0000063754-21-000150 | 10-Q | XBRL Viewer

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Document and Entity Information	9 Months Ended
Document and Entity Information	Aug. 31, 2021 shares
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Aug. 31, 2021
Document Transition Report	false
Entity File Number	001-14920
Entity Registrant Name	MCCORMICK & CO INC
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	52-0408290
Entity Address, Address Line One	24 Schilling Road, Suite 1,
Entity Address, City or Town	Hunt Valley,
Entity Address, State or Province	MD
Entity Address, Postal Zip Code	21031
City Area Code	410
Local Phone Number	771-7301
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0000063754
Current Fiscal Year End Date	--11-30
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Amendment Flag	false
Common Stock
Document Information [Line Items]
Title of 12(b) Security	Common Stock
Trading Symbol	MKC-V
Security Exchange Name	NYSE
Entity Common Stock, Shares Outstanding	17,965,491
Nonvoting Common Stock
Document Information [Line Items]
Title of 12(b) Security	Common Stock Non-Voting
Trading Symbol	MKC
Security Exchange Name	NYSE
Entity Common Stock, Shares Outstanding	249,352,103

CONDENSED CONSOLIDATED INCOME STATEMENT (UNAUDITED) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Aug. 31, 2021	Aug. 31, 2020	Aug. 31, 2021	Aug. 31, 2020
Net sales	$ 1,549.4	$ 1,430.3	$ 4,587.6	$ 4,043.4
Cost of goods sold	949.8	840.0	2,795.9	2,403.7
Gross profit	599.6	590.3	1,791.7	1,639.7
Selling, general and administrative expense	327.3	317.2	1,005.2	911.1
Transaction and integration expenses	1.3	0.0	27.0	0.0
Special charges	5.8	0.1	20.6	4.0
Operating income	265.2	273.0	738.9	724.6
Interest expense	33.9	33.5	103.3	103.2
Other income, net	3.5	3.9	12.0	12.5
Income from consolidated operations before income taxes	234.8	243.4	647.6	633.9
Income tax expense	31.5	46.9	135.5	117.4
Net income from consolidated operations	203.3	196.5	512.1	516.5
Income from unconsolidated operations (including, for the nine months ended August 31, 2021, after-tax gain on sale of unconsolidated operation of $13.4)	9.1	9.6	45.8	30.2
Net income	$ 212.4	$ 206.1	$ 557.9	$ 546.7
Earnings per share - basic (usd per share)	$ 0.79	$ 0.77	$ 2.09	$ 2.05
Earnings per share - diluted (usd per share)	$ 0.79	$ 0.76	$ 2.07	$ 2.03
Average shares outstanding - basic (shares)	267.4	266.7	267.2	266.3
Average shares outstanding - diluted (shares)	270.0	269.6	270.0	269.0
Eastern
Supplemental Income Statement Elements [Abstract]
Gain on Sale of Investments			$ 13.4
Common Stock
Cash dividends paid per common share (usd per share)	$ 0.34	$ 0.31	$ 1.02	$ 0.93
Common Stock, Dividends, Per Share, Declared	$ 0.34	$ 0.31	$ 0.68	$ 0.62

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Aug. 31, 2021	Aug. 31, 2020	Aug. 31, 2021	Aug. 31, 2020
CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME [Abstract]
Net income	$ 212.4	$ 206.1	$ 557.9	$ 546.7
Net income attributable to non-controlling interest	0.7	1.6	3.5	3.1
Other comprehensive income (loss):
Unrealized components of pension and postretirement plans	5.8	(2.1)	8.4	3.6
Currency translation adjustments	(78.4)	146.7	21.5	65.8
Change in derivative financial instruments	2.5	(0.7)	3.1	0.2
Deferred taxes	(2.8)	3.2	1.4	(1.6)
Comprehensive income	(72.9)	147.1	34.4	68.0
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	$ 140.2	$ 354.8	$ 595.8	$ 617.8

CONDENSED CONSOLIDATED BALANCE SHEET - USD ($) $ in Millions	Aug. 31, 2021	Nov. 30, 2020
Current Assets
Cash and cash equivalents	$ 312.6	$ 423.6
Trade accounts receivable, net	541.0	528.5
Inventories, net
Finished products	606.9	499.3
Raw materials and work-in-process	595.5	533.3
Total inventory	1,202.4	1,032.6
Prepaid expenses and other current assets	104.9	98.9
Total current assets	2,160.9	2,083.6
Property, plant and equipment, net	1,113.5	1,028.4
Goodwill	5,379.5	4,986.3
Intangible assets, net	3,478.3	3,239.4
Other long-term assets	752.2	752.0
Total assets	12,884.4	12,089.7
Current Liabilities
Short-term borrowings	767.4	886.7
Current portion of long-term debt	768.5	263.9
Trade accounts payable	1,023.1	1,032.3
Other accrued liabilities	602.3	863.6
Total current liabilities	3,161.3	3,046.5
Long-term debt	3,985.0	3,753.8
Deferred taxes	752.6	727.2
Other long-term liabilities	582.4	622.2
Total liabilities	8,481.3	8,149.7
Shareholders’ Equity
Retained earnings	2,780.0	2,415.6
Accumulated other comprehensive loss	(435.6)	(470.8)
Non-controlling interests	16.6	13.9
Total shareholders’ equity	4,403.1	3,940.0
Total liabilities and shareholders’ equity	12,884.4	12,089.7
Stockholders' Equity Attributable to Parent [Abstract]
Stockholders' Equity Attributable to Parent	4,386.5	3,926.1
Common Stock
Shareholders’ Equity
Common stock	523.0	484.0
Nonvoting Common Stock
Shareholders’ Equity
Common stock	$ 1,519.1	$ 1,497.3

CONDENSED CONSOLIDATED CASH FLOW STATEMENT (UNAUDITED) - USD ($) $ in Millions	9 Months Ended
	Aug. 31, 2021	Aug. 31, 2020
Operating activities
Net income	$ 557.9	$ 546.7
Adjustments to reconcile net income to net cash flow provided by operating activities:
Depreciation and amortization	139.1	123.9
Stock-based compensation	54.2	37.8
Asset Impairment Charges	6.5
Amortization of inventory fair value adjustments associated with acquisitions	6.3	0.0
Income from unconsolidated operations	(45.8)	(30.2)
Trade accounts receivable	1.3	18.4
Inventories	(156.5)	(129.4)
Trade accounts payable	(16.7)	47.4
Other assets and liabilities	(195.2)	(11.3)
Dividends from unconsolidated affiliates	21.8	23.4
Net cash flow provided by operating activities	372.9	626.7
Investing activities
Acquisition of businesses (net of cash acquired)	(706.4)	0.0
Proceeds from sale of unconsolidated operation	65.4
Capital expenditures (including software)	(189.9)	(145.6)
Other investing activities	0.3	2.3
Net cash flow used in investing activities	(830.6)	(143.3)
Financing activities
Short-term borrowings, net	(118.9)	(432.0)
Long-term debt borrowings	1,001.5	506.4
Payment of debt issuance costs	(1.9)	(1.1)
Long-term debt repayments	(255.3)	(256.0)
Proceeds from exercised stock options	10.5	54.1
Taxes withheld and paid on employee stock awards	(13.3)	(10.7)
Common stock acquired by purchase	(3.2)	(46.0)
Dividends paid	(272.4)	(247.4)
Net cash flow provided by (used in) financing activities	347.0	(432.7)
Effect of exchange rate changes on cash and cash equivalents	(0.3)	14.9
(Decrease) increase in cash and cash equivalents	(111.0)	65.6
Cash and cash equivalents at beginning of period	423.6	155.4
Cash and cash equivalents at end of period	$ 312.6	$ 221.0

Consolidated Statement Of Shareholders' Equity - USD ($) shares in Millions, $ in Millions	Total	Common Stock	Retained Earnings [Member]	Accumulated Other Comprehensive (Loss) Income [Member]	Non-Controlling Interests [Member]	Nonvoting Common Stock Common Stock
Balance, Shares at Nov. 30, 2019		18.6				247.2
Balance, Value at Nov. 30, 2019	$ 3,456.7	$ 1,888.6	$ 2,055.8	$ (500.2)	$ 12.5
Comprehensive income:
Net income	546.7		546.7
Net income attributable to non-controlling interest	3.1				3.1
Other comprehensive income (loss), net of tax	68.0			70.3	(2.3)
Currency translation adjustments	65.8
Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition	37.8	$ 37.8
Shares purchased and retired, Shares		(0.5)				(0.2)
Shares purchased and retired, Value	(59.1)	$ (12.6)	(46.5)
Equal exchange, shares		(1.7)				1.7
Balance, Shares at Aug. 31, 2020		18.1				248.7
Balance, Value at Aug. 31, 2020	3,946.0	$ 1,971.6	2,391.0	(429.9)	13.3
Comprehensive income:
Stock Issued During Period, Shares, New Issues		1.7				0.0
Stock Issued During Period, Value, New Issues	57.8	$ 57.8
Dividends	(165.0)		(165.0)
Balance, Shares at May. 31, 2020		18.6				247.9
Balance, Value at May. 31, 2020	3,662.3	$ 1,938.9	2,288.7	(577.7)	12.4
Comprehensive income:
Net income	206.1		206.1
Net income attributable to non-controlling interest	1.6				1.6
Other comprehensive income (loss), net of tax	147.1			147.8	(0.7)
Currency translation adjustments	146.7
Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition	10.7	$ 10.7
Shares purchased and retired, Shares		(0.4)				0.0
Shares purchased and retired, Value	(28.6)	$ (7.4)	(21.2)
Equal exchange, shares		(0.8)				0.8
Balance, Shares at Aug. 31, 2020		18.1				248.7
Balance, Value at Aug. 31, 2020	3,946.0	$ 1,971.6	2,391.0	(429.9)	13.3
Comprehensive income:
Stock Issued During Period, Shares, New Issues		0.7				0.0
Stock Issued During Period, Value, New Issues	29.4	$ 29.4
Dividends	(82.6)		(82.6)
Balance, Shares at Nov. 30, 2020		18.0				248.9
Balance, Value at Nov. 30, 2020	3,940.0	$ 1,981.3	2,415.6	(470.8)	13.9
Comprehensive income:
Net income	557.9		557.9
Net income attributable to non-controlling interest	3.5				3.5
Other comprehensive income (loss), net of tax	34.4			35.2	(0.8)
Currency translation adjustments	21.5
Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition	54.2	$ 54.2
Shares purchased and retired, Shares		(0.2)				0.0
Shares purchased and retired, Value	(17.1)	$ (5.3)	(11.8)
Equal exchange, shares		(0.4)				0.4
Balance, Shares at Aug. 31, 2021		18.0				249.3
Balance, Value at Aug. 31, 2021	4,403.1	$ 2,042.1	2,780.0	(435.6)	16.6
Comprehensive income:
Stock Issued During Period, Shares, New Issues		0.6				0.0
Stock Issued During Period, Value, New Issues	11.9	$ 11.9
Dividends	(181.7)		(181.7)
Balance, Shares at May. 31, 2021		18.1				249.2
Balance, Value at May. 31, 2021	4,340.8	$ 2,027.1	2,660.5	(362.3)	15.5
Comprehensive income:
Net income	212.4		212.4
Net income attributable to non-controlling interest	0.7				0.7
Other comprehensive income (loss), net of tax	(72.9)			(73.3)	0.4
Currency translation adjustments	(78.4)
Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition	11.6	$ 11.6
Shares purchased and retired, Shares		(0.1)				0.0
Shares purchased and retired, Value	(2.9)	$ (0.9)	(2.0)
Equal exchange, shares		(0.1)				0.1
Balance, Shares at Aug. 31, 2021		18.0				249.3
Balance, Value at Aug. 31, 2021	4,403.1	$ 2,042.1	2,780.0	$ (435.6)	$ 16.6
Comprehensive income:
Stock Issued During Period, Shares, New Issues		0.1				0.0
Stock Issued During Period, Value, New Issues	4.3	$ 4.3
Dividends	$ (90.9)		$ (90.9)

Consolidated Statement Of Shareholders' Equity (Parenthetical) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Aug. 31, 2020	Aug. 31, 2021	Aug. 31, 2020
Statement of Stockholders' Equity [Abstract]
Shares issued, tax benefit	$ 7.3	$ 2.2	$ 13.0

Accounting Policies	9 Months Ended
Accounting Policies	Aug. 31, 2021
Accounting Policies [Abstract]
Accounting Policies	ACCOUNTING POLICIES Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and do not include all the information and notes required by United States generally accepted accounting principles (U.S. GAAP) for complete financial statements. In our opinion, the accompanying condensed consolidated financial statements contain all adjustments, which are of a normal and recurring nature, necessary to present fairly the financial position and the results of operations for the interim periods presented. In September 2020, our Board of Directors approved a 2-for-1 stock split in the form of a stock dividend on all shares of the Company's two classes of stock, Common stock and Common stock non-voting. Trading of the Company's common stock began on a split-adjusted basis on December 1, 2020. All common stock and per-share data prior to that date have been retroactively adjusted for the impact of the stock split. The results of consolidated operations for the nine-month period ended August 31, 2021 are not necessarily indicative of the results to be expected for the full year. Historically, our Net sales, Net income and Cash flow from operations have been lower in the first half of the fiscal year and higher in the second half. The historical increase in Net sales, Net income and Cash flow from operations in the second half of the year has largely been due to the consumer business cycle in the U.S., where customers typically purchase more products in the fourth quarter due to the Thanksgiving and Christmas holiday seasons. For further information, refer to the consolidated financial statements and notes included in our Annual Report on Form 10-K for the year ended November 30, 2020. Recent Events Recent events impacting our business include COVID-19, the acquisitions of Cholula and FONA, the inflationary cost environment and supply chain disruption, each of which are further discussed in these notes to condensed consolidated financial statements. As more fully described below, we expect the largest factors impacting our fiscal 2021 performance to be the relative balance of at-home versus away-from-home consumption and the inflationary cost environment, both which remain uncertain. COVID-19: On March 11, 2020, the World Health Organization designated a new coronavirus (“COVID-19”) as a global pandemic. Governments around the world either recommended or mandated actions to slow the transmission of the virus that included shelter-in-place orders, quarantines, limitations on crowd size, closures of dine-in restaurants and bars, and significant restrictions on travel, as well as work restrictions that prohibited many employees from going to work. Uncertainty with respect to the economic effects of the pandemic has significantly impacted not only our operating results but also the global economy. The extent and nature of government actions varied during the three and nine-months ended August 31, 2021 and 2020, based upon the then-current extent and severity of the COVID-19 pandemic within their respective countries and localities. We are actively monitoring the impact of COVID-19 on all aspects of our business. The effects of COVID-19 on consumer behavior have impacted the relative balance of at-home versus away-from-home food demand. The impact of COVID-19, since the onset of the pandemic, has resulted in net sales growth as the increase in at-home consumption has more than offset declines in away-from-home demand. The impact of COVID-19 on our consumer segment since the beginning of the COVID-19 pandemic has resulted in a significant increase in at-home consumption and related demand for our products. The impact of COVID-19 on our flavor solutions segment has been two-fold, including both (i) an unfavorable impact attributable to decreased demand from certain customers that were affected by government measures related to COVID-19 mitigation in many of our markets that reduced away-from-home food demand; and (ii) a favorable impact attributable to increased at-home consumption from certain customers that use our products to flavor their own brands for at-home consumption. The COVID-19 mitigation measures impacting certain of our flavor solutions customers included the following: (i) with respect to dine-in restaurants, closures, limitations on dine-in capacity, or restrictions on the operations of those restaurants to carry-out or delivery only; and (ii) with respect to quick service restaurants, limitations on operations to drive-through pick-up or delivery. The extent of the at-home consumption and away-from-home demand has varied during the pandemic and has impacted our results, as compared to the prior year results, at different levels in any individual quarter. While we continue to see strong levels of consumer demand compared to the pre-pandemic levels, during the three months ended August 31, 2021 retail demand declined when compared to the comparable quarter of the prior year based on strong consumer demand at the beginning of the pandemic. We continue to see recovery in away-from-home demand associated with the COVID-19 recovery. During the three months ended August 31, 2021 our flavor solutions sales and operating results improved as away-from-home consumption increased as compared to the comparable quarter in 2020, in part, due to the lifting of much more restrictive COVID-19 mitigation measures that were in place in the early stages of the pandemic. The impact of the COVID-19 pandemic on our consolidated operating results during the three months ended February 29, 2020 was limited, in all material respects, to our operations in China where the Chinese government mandated numerous measures, including closures of businesses, limitations on movements of individuals and goods, and the imposition of other restrictive measures, in its efforts to mitigate the spread of COVID-19 within the country. The pace and shape of the COVID-19 recovery as well as the impact and extent of COVID-19 variants or potential resurgences is not presently known. Inflationary Cost Environment and Supply Chain Disruption: During fiscal 2021, we have experienced inflationary cost increases in our commodities, packaging materials and transportation costs. We expect that these inflationary cost increases will be partially mitigated by pricing actions we expect to implement in the fourth quarter of fiscal 2021 and by our CCI-led cost savings. We are also experiencing additional pressure in our supply chain due to strained transportation capacity, as well as due to labor shortages and absenteeism associated with COVID-19, together with the impact of the continued elevated demand. Revenue Recognition The following supplements the description of our accounting policies with respect to revenue recognition contained in note 1 of the notes to the consolidated financial statements included in our Annual Report on Form 10-K for the year ended November 30, 2020: Our revenue arrangements generally include a single performance obligation relating to the fulfillment of a customer order, which in some cases are governed by a master sales agreement, for the purchase of our products. We recognize revenue at a point in time when control of the ordered products passes to the customer, which principally occurs either upon shipment or delivery to the customer or upon pick-up by the customer, depending upon terms included in the particular customer arrangement. Accounting Pronouncements Adopted in 2021 In January 2017, the FASB issued ASU No. 2017-04 Intangibles—Goodwill and Other Topics (Topic 350)—Simplifying the Test for Goodwill Impairment. This guidance eliminates the requirement to calculate the implied fair value of goodwill of a reporting unit to measure a goodwill impairment charge. Instead, a company will record an impairment charge based on the excess of a reporting unit's carrying amount over its fair value. This new standard was adopted effective December 1, 2020 and will be applied upon recognition of any future goodwill impairment charge. We do not expect this ASU to have a material impact on our financial statements. In June 2016, the FASB issued ASU No. 2016-13 Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which instituted a new model for recognizing credit losses on financial instruments that are not measured at fair value. This standard was adopted by the Company on December 1, 2020. As this ASU did not have a material impact on our consolidated financial statements upon adoption, a cumulative-effect adjustment to retained earnings was not necessary. Recently Issued Accounting Pronouncements — Pending Adoption In December 2019, the FASB issued ASU No. 2019-12 Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. The new guidance removes certain exceptions to the general principles for income taxes and also improves consistent application of accounting by clarifying or amending existing guidance. The new standard is effective for the first quarter of our fiscal year ending November 30, 2022, and interim periods within those years. We are currently evaluating the impact that the new guidance will have on our consolidated financial statements. In March 2020, the FASB issued ASU No. 2020-04 Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting that provides optional expedients for a limited period of time for accounting for contracts, hedging relationship, and other transactions affected by the London Interbank Offered Rate (LIBOR) or other reference rates expected to be discontinued. These optional expedients can be applied from March 2020 through December 31, 2022. We are currently evaluating the impact that the new guidance will have on our consolidated financial statements.

Business Combinations

9 Months Ended

Aug. 31, 2021

Business Combination and Asset Acquisition [Abstract]

ACQUISITIONS

ACQUISITIONS AND DISPOSITIONS

Acquisitions are part of our strategy to increase sales and profits. Dispositions are made when deemed in our strategic interest.

Acquisition of Cholula Hot Sauce

On November 30, 2020, we completed the acquisition of the parent company of Cholula Hot Sauce® (Cholula) from L Catterton. The purchase price was approximately $801.2 million, net of cash acquired. That purchase price is also net of $1.5 million received during the second quarter of 2021 associated with the final working capital adjustment. The acquisition was funded with cash and short-term borrowings. Cholula, a premium Mexican hot sauce brand, is a strong addition to McCormick’s global branded flavor portfolio, which we believe broadens our offerings in the high growth hot sauce category to consumers and foodservice operators and accelerates our condiment growth opportunities with a complementary authentic Mexican flavor hot sauce. At the time of the acquisition, annual sales of Cholula were approximately $96 million. The results of Cholula’s operations have been included in our financial statements as a component of our consumer and flavor solutions segments from the date of acquisition.

The purchase price of Cholula was preliminarily allocated to the underlying assets acquired and liabilities assumed based upon their estimated fair values at the date of acquisition as further described in note 2 of the notes to the consolidated financial statements included in our Annual Report on Form 10-K for the year ended November 30, 2020. We valued finished goods and work-in-process inventory using a net realizable value approach, which resulted in a step-up of $4.9 million that was recognized in Cost of goods sold during the nine months ended August 31, 2021, as the related inventory was sold.

During the nine months ended August 31, 2021, we completed the Cholula purchase price allocation which resulted in an increase in goodwill of $0.8 million. The final purchase price allocation for Cholula resulted in the following fair value allocations, net of cash acquired (in millions):


Trade accounts receivable	$	15.0
Inventories	16.5
Goodwill	411.3
Intangible assets	401.0
Other assets	10.5
Trade accounts payable	(7.0)
Other accrued liabilities	(8.1)
Deferred taxes	(35.1)
Other long-term liabilities	(2.9)
Total	$	801.2

Acquisition of FONA International, LLC

On December 30, 2020, we purchased FONA International, LLC and certain of its affiliates (FONA), a privately held company, for a purchase price of approximately $708.2 million, net of cash acquired. That purchase price includes the payment of $2.6 million during the second quarter 2021 associated with the final working capital adjustment. FONA is a leading manufacturer of clean and natural flavors providing solutions for a diverse customer base across various applications for the food, beverage and nutritional markets. The acquisition of FONA in fiscal 2021 expands the breadth of our flavor solutions segment into attractive categories, as well as extends our technology platform and strengthens our capabilities. The acquisition was funded with cash and commercial paper. At the time of the acquisition, annual sales of FONA were approximately $114 million. The results of FONA’s operations have been included in our financial statements as a component of our flavor solutions segments from the date of acquisition.

The purchase price of FONA was preliminarily allocated to the underlying assets acquired and liabilities assumed based upon their estimated fair values at the date of acquisition. We estimated the fair values based on in-process independent valuations, discounted cash flow analyses, quoted market prices, and estimates made by management, a number of which are subject to finalization. The preliminary allocation, net of cash acquired, of the fair value of the FONA acquisition is summarized in the table below (in millions):


Trade accounts receivable	$	12.4
Inventories	10.3
Goodwill	389.4
Intangible assets	266.0
Property, plant and equipment	36.3
Other assets	5.5
Trade accounts payable	(3.7)
Other accrued liabilities	(8.0)


Total	$	708.2

We determined the preliminary fair value of intangible assets using the following methodologies. We valued the acquired brand names and trademarks and intellectual property using the relief from royalty method, an income approach. We valued the acquired customer relationships using the excess earnings method, an income approach. Some of the more significant assumptions inherent in developing the preliminary valuations included the estimated annual net cash flows for each indefinite-lived or definite-lived intangible asset (including net sales, operating profit margin, and working capital/contributory asset charges), royalty rates, the discount rate that appropriately reflects the risk inherent in each future cash flow stream, the assessment of each asset’s life cycle, and competitive trends, as well as other factors. We determined the assumptions used in the financial forecasts using historical data, supplemented by current and anticipated market conditions, estimated product category growth rates, management plans, and market comparables.

We used carrying values to value trade receivables and payables, as well as certain other current and non-current assets and liabilities, as we determined that they represented the fair value of those items. We valued finished goods and work-in-process inventory using a net realizable value approach, which resulted in a step-up of $1.4 million that was recognized in Cost of goods sold during the nine months ended August 31, 2021, as the related inventory was sold. Raw materials and packaging inventory was valued using the replacement cost approach.

The preliminary valuation of the acquired net assets of FONA includes $49.0 million allocated to indefinite-lived brand assets, $173.0 million allocated to customer relationships with a weighted-average life of 15 years and $44.0 million allocated to intellectual property with a weighted-average life of 12 years. As a result of the acquisition, we recognized a total of $389.4 million of goodwill. That goodwill primarily represents the intangible assets that do not qualify for separate recognition, such as the value of leveraging our brand building expertise, our insights in demand from customers for value-added flavor solutions, and our supply chain capabilities, as well as expected synergies from the combined operations and assembled workforce. Our aggregate income tax basis in the acquired intangible assets and goodwill approximates their aggregate book value at the acquisition date. The final allocation of the fair value of the acquired net assets of FONA, including the residual amount of goodwill, was not complete as of August 31, 2021, but will be finalized within the allowable measurement period.

Transaction and Integration Expenses Associated with the Cholula and FONA Acquisitions

We expect Transaction and integration expenses related to our acquisitions of Cholula and FONA to total approximately $30 million and $25 million, respectively. Of the total expected Transaction and integration expenses, transaction expenses of $12.4 million were incurred in 2020. We incurred an additional $1.3 million and $33.3 million of Transaction and integration costs related to Cholula and FONA during the three and nine months ended August 31, 2021, respectively. We anticipate incurring the remainder of those Transaction and integration expenses by May 31, 2022.

The following are the Transaction and integration expenses recognized during the three and nine months ended August 31, 2021 relating to the Cholula and FONA acquisitions (in millions):


	Three months ended August 31, 2021		Nine months ended August 31, 2021
Transaction-related expenses included in cost of goods sold	$	—	$	6.3
Other transaction expenses	—		13.8
Integration expenses	1.3		13.2
Total transaction and integration expenses	$	1.3	$	33.3

Sale of Unconsolidated Operation

On March 1, 2021, we sold our 26% interest in Eastern Condiments Private Ltd (Eastern) for $65.4 million in cash, net of transaction expenses of $1.4 million. Eastern was accounted for as an equity method investment with our proportionate share of earnings, prior to the sale, reflected in Income from unconsolidated operations before income taxes in our consolidated income statement. The sale of Eastern resulted in a gain of $13.4 million, net of tax of $5.7 million. That gain is included in Income from unconsolidated operations before income taxes in our consolidated income statement. That gain also reflects a write-off of $1.4 million of foreign currency translation adjustment, a component of Accumulated other comprehensive loss.

Special Charges

9 Months Ended

Aug. 31, 2021

Special Charges [Abstract]

Special Charges [Text Block]

SPECIAL CHARGES

In our consolidated income statement, we include a separate line item captioned Special charges in arriving at our consolidated operating income. Special charges consist of expenses associated with certain actions undertaken by the Company to reduce fixed costs, simplify or improve processes, and improve our competitiveness and are of such significance in terms of both up-front costs and organizational/structural impact to require advance approval by our Management Committee, comprised of our senior management, including our Chairman, President and Chief Executive Officer. Upon presentation of any such proposed action (generally including details with respect to estimated costs, which typically consist principally of employee severance and related benefits, together with ancillary costs associated with the action that may include a non-cash component or a component which relates to inventory adjustments that are included in Cost of goods sold; impacted employees or operations; expected timing; and expected savings) to the Management Committee and the Committee’s advance approval, expenses associated with the approved action are classified as Special charges upon recognition and monitored on an on-going basis through completion.

The following is a summary of Special charges recognized in the three and nine months ended August 31, 2021 and 2020

(in millions):


	Three months ended August 31,				Nine months ended August 31,
	2021		2020		2021		2020
Employee severance and related benefits	$	2.8	$	—	$	7.6	$	2.2
Other costs	3.0		0.1		13.0		1.8
Total	$	5.8	$	0.1	$	20.6	$	4.0

We continue to evaluate changes to our organization structure to enable us to reduce fixed costs, simplify or improve processes, and improve our competitiveness.

In 2017, our Management Committee approved a multi-year initiative during which we expect to execute significant changes to our global processes, capabilities and operating model to provide a scalable platform for future growth. We expect this initiative to enable us to accelerate our ability to work globally and cross-functionally by aligning and simplifying processes throughout McCormick, in part building upon our current shared services foundation and expanding the end-to-end processes presently under that foundation. We expect this initiative, which we refer to as Global Enablement ("GE"), to enable this scalable platform for future growth while reducing costs, enabling faster decision making, increasing agility and creating capacity within our organization.

We expect the cost of the GE initiative—to be recognized as Special charges in our consolidated income statement over its expected multi-year course—to range from approximately $60 million to $65 million. Of that $60 million to $65 million, we estimate that approximately sixty percent will be attributable to cash payments associated with the related costs of GE implementation and transition, including outside consulting and other costs, and approximately forty percent will be attributable to severance and related benefit payments, all directly related to the initiative. We have spent a cumulative total of $41.1 million on this initiative through August 31, 2021.

During the three months ended August 31, 2021, we recorded $5.8 million of Special charges, consisting principally of streamlining actions of $1.8 million in the Americas region, $1.7 million in the Europe, Middle East, and Africa (EMEA) region and $0.8 million in the Asia Pacific (APAC) region, and $0.7 million related to our GE initiative.

During the nine months ended August 31, 2021, we recorded $20.6 million of Special charges, consisting principally of streamlining actions of $7.0 million in the Americas region, $3.0 million in the EMEA region and $0.8 million in the APAC region, and $0.7 million related to our GE initiative, together with a non-cash asset impairment charge of $6.5 million associated with an administrative site that will be exited in conjunction with our decision to employ a hybrid work environment.

During the three months ended August 31, 2020, we recorded $0.1 million of Special charges, consisting primarily of streamlining actions in the EMEA region.

During the nine months ended August 31, 2020, we recorded $4.0 million of Special charges, consisting of $2.9 million of streamlining actions in the EMEA region and $1.1 million related to our GE initiative.

As of August 31, 2021, reserves associated with Special charges, which are expected to be paid during the next six months, are included in Trade accounts payable and Other accrued liabilities in our consolidated balance sheet.

The following is a breakdown by business segment of Special charges for the three and nine months ended August 31, 2021 and 2020 (in millions):


	Three months ended August 31,				Nine months ended August 31,
	2021		2020		2021		2020
Consumer segment	$	3.5	$	—	$	13.1	$	3.1
Flavor solutions segment	2.3		0.1		7.5		0.9
Total special charges	$	5.8	$	0.1	$	20.6	$	4.0

Goodwill

9 Months Ended

Aug. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill Disclosure

GOODWILL

The changes in the carrying amount of goodwill by business segment for the nine months ended August 31, 2021 are as follows (in millions):



	Consumer		Flavor Solutions
Beginning of the year	$	3,711.2	$	1,275.1

Increases in goodwill from acquisition	—		389.4
Changes in preliminary purchase price allocation	0.5		0.3
Foreign currency fluctuations	0.3		2.7
Balance as of the end of period	$	3,712.0	$	1,667.5

During the nine months ended August 31, 2021, a preliminary valuation of the net assets of FONA acquired in December 2020, resulted in the assignment of $389.4 million of goodwill to the flavor solutions segment. During the nine months ended August 31, 2021, we finalized the allocation of the purchase price of Cholula, which resulted in an increase in goodwill of $0.5 million to the consumer segment and $0.3 million to the flavor solutions segment.

Financial Instruments

9 Months Ended

Aug. 31, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Financing Arrangements and Financial Instruments

FINANCING ARRANGEMENTS AND FINANCIAL INSTRUMENTS

In February 2021, we issued $500.0 million of 0.90% notes due February 15, 2026, with cash proceeds received of $495.7 million, net of discounts and underwriters' fees. Also, in February 2021, we issued $500.0 million of 1.85% notes due February 15, 2031, with cash proceeds received of $492.8 million, net of discounts and underwriters' fees. Interest is payable semiannually on both of these notes in arrears in February and August of each year. The net proceeds from these issuances were used to pay down short-term borrowings, including a portion of the $1,443.0 million of commercial paper issued to finance our acquisitions of Cholula and FONA, and for general corporate purposes.

During the three months ended August 31, 2021, we repaid our $250 million, 3.90% notes that matured on July 8, 2021.

In June 2021, we entered into a five-year $1.5 billion revolving credit facility, which will expire in June 2026. The current pricing for the credit facility, on a fully drawn basis, is LIBOR plus 1.25%. The pricing of the credit facility is based on a credit rating grid that contains a fully drawn maximum pricing of the credit facility equal to LIBOR plus 1.75%. The provisions of this new revolving credit facility restrict subsidiary indebtedness and require us to maintain a minimum interest coverage ratio. We do not expect that this covenant would limit our access to this revolving credit facility for the foreseeable future. This facility replaced the following prior revolving credit facilities: (i) a five-year $1.0 billion revolving credit facility that was due to expire in August 2022, and (ii) a 364-day $1.0 billion revolving facility, which we entered into in the first quarter of 2021 and that was due to expire in December 2021. The terms of those revolving credit facilities are more fully described in note 6 of the notes to the consolidated financial statements included in our Annual Report on Form 10-K for the year ended November 30, 2020.

We use derivative financial instruments to enhance our ability to manage risk, including foreign currency, net investment and interest rate exposures, which exist as part of our ongoing business operations. We do not enter into contracts for trading

purposes, nor are we a party to any leveraged derivative instrument, and all derivatives are designated as hedges. We are not a party to master netting arrangements, and we do not offset the fair value of derivative contracts with the same counterparty in our financial statement disclosures. The use of derivative financial instruments is monitored through regular communication with senior management and the use of written guidelines.

Foreign currency exchange risk. We are potentially exposed to foreign currency fluctuations affecting net investments in subsidiaries, transactions (both third-party and intercompany) and earnings denominated in foreign currencies. Management assesses foreign currency risk based on transactional cash flows and translational volatility and may enter into forward contract and currency swaps to reduce fluctuations in the long or short currency positions. Forward contracts are generally less than 18 months duration.

At August 31, 2021, we had foreign currency exchange contracts to purchase or sell $598.1 million of foreign currencies as compared to $383.8 million at November 30, 2020. All of these contracts were designated as hedges of anticipated purchases denominated in a foreign currency or hedges of foreign currency denominated assets or liabilities. All foreign currency exchange contracts outstanding at August 31, 2021 have durations of less than 18 months, including $232.9 million of notional contracts that have durations of less than one month and are used to hedge short-term cash flow funding.

Contracts which are designated as hedges of anticipated purchases denominated in a foreign currency (generally purchases of raw materials in U.S. dollars by operating units outside the U.S.) are considered cash flow hedges. The gains and losses on these contracts are deferred in Accumulated other comprehensive loss until the hedged item is recognized in Cost of goods sold, at which time the net amount deferred in Accumulated other comprehensive loss is also recognized in Cost of goods sold. Gains and losses from contracts that are designated as hedges of assets, liabilities or firm commitments are recognized through income, offsetting the change in fair value of the hedged item.

We also enter into fair value foreign currency exchange contracts to manage both exposure to currency fluctuations in certain intercompany loans between subsidiaries as well as currency exposure to third-party non-functional currency assets or liabilities. At August 31, 2021, the notional value of these contracts was $391.7 million. Any gains or losses recorded based on both the change in fair value of these contracts and the change in the currency component of the underlying loans are recognized in our consolidated income statement as Other income, net.

We also utilize cross currency interest rate swap contracts that are designated as net investment hedges. As of August 31, 2021, we had cross currency interest rate swap contracts of (i) $250 million notional value to receive $250 million at three-month U.S. LIBOR plus 0.685% and pay £194.1 million at three-month GBP LIBOR plus 0.740% and (ii) £194.1 million notional value to receive £194.1 million at three-month GBP LIBOR plus 0.740% and pay €221.8 million at three-month Euro EURIBOR plus 0.808%. These cross currency interest rate swap contracts expire in August 2027. Any gains or losses on net investment hedges are included in foreign currency translation adjustments in Accumulated other comprehensive loss.

Interest rate risk. We finance a portion of our operations with both fixed and variable rate debt instruments, principally commercial paper, notes and bank loans. We utilize interest rate swap agreements to minimize worldwide financing costs and to achieve a desired mix of variable and fixed rate debt.

As of August 31, 2021, we have outstanding interest rate swap contracts for a notional amount of $350 million. Those interest rate swap contracts include a $100 million notional value of interest rate swap contracts, where we receive interest at 3.25% and pay a variable rate of interest based on three-month LIBOR plus 1.22%, which expire in November 2025, and are designated as fair value hedges of the changes in fair value of $100 million of the $250 million 3.25% medium-term notes due 2025. We also have $250 million notional interest rate swap contracts where we receive interest at 3.40% and pay a variable rate of interest based on three-month LIBOR plus 0.685%, which expire in August 2027, and are designated as fair value hedges of the changes in fair value of $250 million of the $750 million 3.40% term notes due 2027. The fair value of these swap contracts is offset by a corresponding increase or decrease of the value of the hedged debt.

All derivatives are recognized at fair value in our consolidated balance sheet and recorded in either Prepaid expenses and other current assets, Other long-term assets, Other accrued liabilities or Other long-term liabilities, depending upon their nature and maturity. Hedge ineffectiveness was not material.

The following table discloses the notional amount and fair values of derivative instruments on our balance sheet (in millions):



As of August 31, 2021	Asset Derivatives					Liability Derivatives
	Balance sheet location	Notional amount		Fair value		Balance sheet location	Notional amount		Fair value
Interest rate contracts	Other current assets / Other long-term assets	$	350.0	$	30.0	Other accrued liabilities	$	—	$	—
Foreign exchange contracts	Other current assets	444.0		6.2		Other accrued liabilities	154.1		1.6
Cross currency contracts	Other current assets / Other long-term assets	261.9		2.8		Other long-term liabilities	266.8		17.2
Total				$	39.0				$	18.8

As of November 30, 2020	Asset Derivatives					Liability Derivatives
	Balance sheet location	Notional amount		Fair value		Balance sheet location	Notional amount		Fair value
Interest rate contracts	Other current assets / Other long-term assets	$	350.0	$	43.1	Other accrued liabilities	$	—	$	—
Foreign exchange contracts	Other current assets	27.5		1.4		Other accrued liabilities	356.3		8.2
Cross currency contracts	Other current assets / Other long-term assets	—		—		Other long-term liabilities	524.4		18.8
Total				$	44.5				$	27.0

The following tables disclose the impact of derivative instruments on our Other comprehensive income (OCI), Accumulated other comprehensive loss (AOCI) and our consolidated income statement for the three- and nine-months ended August 31, 2021 and 2020 (in millions):


Fair Value Hedges

Derivative	Income statement location	Income (expense)
		Three months ended August 31, 2021		Three months ended August 31, 2020		Nine months ended August 31, 2021		Nine months ended August 31, 2020

Interest rate contracts	Interest expense	$	2.1	$	1.8	$	6.1	$	3.2


Three months ended August 31,	Income statement location	Gain (loss) recognized in income					Income statement location	Gain (loss) recognized in income
Derivative		2021		2020		Hedged item		2021		2020
Foreign exchange contracts	Other income, net	$	5.6	$	(7.6)	Intercompany loans	Other income, net	$	(5.4)	$	7.3


Nine months ended August 31,	Income statement location	Gain (loss) recognized in income					Income statement location	Gain (loss) recognized in income
Derivative		2021		2020		Hedged item		2021		2020
Foreign exchange contracts	Other income, net	$	(0.3)	$	(4.1)	Intercompany loans	Other income, net	$	1.1	$	3.1

The gains (losses) recognized on fair value hedges relating to currency exposure on third-party non-functional currency assets or liabilities were not material during the three- and nine-months ended August 31, 2021 and 2020.


Cash Flow Hedges
Three months ended August 31,
Derivative	Gain (loss) recognized in OCI				Income statement location	Gain (loss) reclassified from AOCI
	2021		2020			2021		2020
Interest rate contracts	$	—	$	—	Interest expense	$	0.2	$	0.2
Foreign exchange contracts	1.5		(0.6)		Cost of goods sold	(0.3)		1.1
Total	$	1.5	$	(0.6)		$	(0.1)	$	1.3

Nine months ended August 31,
Derivative	Gain (loss) recognized in OCI				Income statement location	Gain (loss) reclassified from AOCI
	2021		2020			2021		2020
Interest rate contracts	$	0.3	$	—	Interest expense	$	0.4	$	0.4
Foreign exchange contracts	(0.9)		2.3		Cost of goods sold	(0.6)		1.2
Total	$	(0.6)	$	2.3		$	(0.2)	$	1.6

For all cash flow and settled interest rate fair value hedge derivatives, the net amount of Accumulated other comprehensive loss expected to be reclassified in the next 12 months is $0.7 million as an increase to earnings.


Net Investment Hedges
Three months ended August 31,
Derivative	Gain (loss) recognized in OCI				Income statement location	Gain (loss) excluded from the assessment of hedge effectiveness
	2021		2020			2021		2020
Cross currency contracts	$	8.4	$	(17.4)	Interest expense	$	0.4	$	0.3

Nine months ended August 31,
Derivative	Gain (loss) recognized in OCI				Income statement location	Gain (loss) excluded from the assessment of hedge effectiveness
	2021		2020			2021		2020
Cross currency contracts	$	4.9	$	(20.7)	Interest expense	$	1.1	$	2.7

For all net investment hedges, no amounts have been reclassified out of Accumulated other comprehensive loss. The amounts noted in the tables above for OCI do not include any adjustments for the impact of deferred income taxes.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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+ Details

Fair Value Measurements

9 Months Ended

Aug. 31, 2021

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

Fair value can be measured using valuation techniques, such as the market approach (comparable market prices), the income approach (present value of future income or cash flow), and the cost approach (cost to replace the service capacity of an asset or replacement cost). Accounting standards utilize a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The following is a brief description of those three levels:

•Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities.

•Level 2: Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active.

•Level 3: Unobservable inputs that reflect the reporting entity’s own assumptions.

At August 31, 2021 and November 30, 2020, we had no financial assets or liabilities that were subject to a level 3 fair value measurement. Our population of financial assets and liabilities subject to fair value measurements on a recurring basis are as follows (in millions):


			August 31, 2021
	Fair Value		Level 1		Level 2
Assets
Cash and cash equivalents	$	312.6	$	312.6	$	—
Insurance contracts	138.8		—		138.8
Bonds and other long-term investments	2.0		2.0		—
Interest rate derivatives	30.0		—		30.0
Foreign currency derivatives	6.2		—		6.2
Cross currency contracts	2.8		—		2.8
Total	$	492.4	$	314.6	$	177.8
Liabilities
Foreign currency derivatives	$	1.6	$	—	$	1.6

Cross currency contracts	17.2		—		17.2
Total	$	18.8	$	—	$	18.8


			November 30, 2020
	Fair Value		Level 1		Level 2
Assets
Cash and cash equivalents	$	423.6	$	423.6	$	—
Insurance contracts	126.0		—		126.0
Bonds and other long-term investments	3.9		3.9		—
Interest rate derivatives	43.1		—		43.1
Foreign currency derivatives	1.4		—		1.4

Total	$	598.0	$	427.5	$	170.5
Liabilities
Foreign currency derivatives	$	8.2	$	—	$	8.2

Cross currency contracts	18.8		—		18.8
Total	$	27.0	$	—	$	27.0

Because of their short-term nature, the amounts reported in our consolidated balance sheet for Cash and cash equivalents, Trade accounts receivable, Short-term borrowings and Trade accounts payable approximate fair value. The fair values of insurance contracts are based upon the underlying values of the securities in which they are invested and are from quoted market prices from various stock and bond exchanges for similar-type assets. The fair values of bonds and other long-term investments are based on quoted market prices from various stock and bond exchanges. The fair values for interest rate derivatives, foreign

currency derivatives, and cross currency contracts are based on values for similar instruments using models with market-based inputs.

The following table sets forth the carrying amounts and fair values of our long-term debt including the current portion thereof (in millions):


	August 31, 2021		November 30, 2020
Carrying amount	$	4,753.5	$	4,017.7
Fair value	5,009.5		4,357.1

Level 1 valuation techniques	$	4,807.4	$	4,161.3
Level 2 valuation techniques	202.1		195.8
Total fair value	$	5,009.5	$	4,357.1

The fair value for Level 2 long-term debt is determined by using quoted prices for similar debt instruments.

Employee Benefit and Retirement Plans

9 Months Ended

Aug. 31, 2021

Retirement Benefits [Abstract]

EMPLOYEE BENEFIT AND RETIREMENT PLANS

We sponsor defined benefit pension plans in the U.S. and certain foreign locations. In addition, we sponsor defined contribution plans in the U.S. We also contribute to defined contribution plans in locations outside the U.S., including government-sponsored retirement plans. We also currently provide postretirement medical and life insurance benefits to certain U.S. employees and retirees. During fiscal years 2018 and 2017, we made significant changes to our employee benefit and retirement plans that froze the accrual of future benefits under certain defined benefit pension plans in the U.S. and certain foreign locations. Although our defined benefit plans in the U.S., United Kingdom and Canada have been frozen, employees who are participants in the plans retained benefits accumulated up to the date of the freeze, based on credited service and eligible earnings, in accordance with the terms of the plans.

The following table presents the components of our pension expense (income) of the defined benefit plans for the three months ended August 31, 2021 and 2020 (in millions):


	United States				International
	2021		2020		2021		2020
Defined benefit plans
Service cost	$	0.9	$	0.8	$	0.3	$	0.2
Interest costs	6.5		7.3		1.8		1.9
Expected return on plan assets	(10.3)		(10.2)		(3.5)		(3.7)
Amortization of prior service costs	0.2		0.2		—		0.1
Amortization of net actuarial losses	2.7		2.0		0.6		0.5
Settlement loss	—		—		0.2		0.7
Total pension expense (income)	$	—	$	0.1	$	(0.6)	$	(0.3)

The following table presents the components of our pension expense (income) of the defined benefit plans for the nine months ended August 31, 2021 and 2020 (in millions):


	United States				International
	2021		2020		2021		2020
Defined benefit plans
Service cost	$	2.8	$	2.4	$	0.8	$	0.7
Interest costs	19.5		22.0		5.3		5.6
Expected return on plan assets	(30.9)		(30.5)		(10.5)		(11.2)
Amortization of prior service costs	0.4		0.4		0.1		0.1
Amortization of net actuarial losses	8.2		5.9		1.7		1.5
Settlement loss	—		—		0.6		1.2
Total pension expense (income)	$	—	$	0.2	$	(2.0)	$	(2.1)

During the nine months ended August 31, 2021 and 2020, we contributed $7.5 million and $9.3 million, respectively, to our pension plans. Total contributions to our pension plans in fiscal year 2020 were $11.9 million.

The following table presents the components of our other postretirement benefits expense (income) (in millions):


	Three months ended August 31,				Nine months ended August 31,
	2021		2020		2021		2020
Other postretirement benefits
Service cost	$	0.5	$	0.5	$	1.5	$	1.4
Interest costs	0.4		0.5		1.2		1.5
Amortization of prior service credits	(0.1)		(1.2)		(0.3)		(3.5)
Amortization of net actuarial gains	—		—		—		(0.1)

Total other postretirement benefits expense (income)	$	0.8	$	(0.2)	$	2.4	$	(0.7)

All of the amounts in the tables above for pension expense and other postretirement benefits expense, other than service cost, were included in Other income, net within our consolidated income statements. The aggregate amount of pension and other

postretirement benefits (income) expenses, excluding service cost components, were $(1.5) million and $(1.9) million for the three months ended August 31, 2021 and 2020, respectively and $(4.7) million and $(7.1) million for the nine months ended August 31, 2021 and 2020, respectively.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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+ Details

Stock-based Compensation

9 Months Ended

Aug. 31, 2021

Share-based Payment Arrangement [Abstract]

Stock-Based Compensation

STOCK-BASED COMPENSATION

We have four types of stock-based compensation awards: restricted stock units ("RSUs"), stock options, company stock awarded as part of our long-term performance plan ("LTPP") and, beginning in the fourth quarter of 2020, price-vested stock options. The following table sets forth the stock-based compensation expense recorded in Selling, general and administrative ("SG&A") expense (in millions):


	Three months ended August 31,				Nine months ended August 31,
	2021		2020		2021		2020
Stock-based compensation expense	$	11.6	$	10.7	$	54.2	$	37.8

Our 2021 annual grant of stock options and RSUs occurred in the second quarter, similar to the 2020 annual grant. The weighted-average grant-date fair value of each stock option granted in 2021 was $18.36 and in 2020 was $13.26 as calculated under a lattice pricing model. Substantially all of the stock options and RSUs granted in 2021 and 2020 vest ratably over a three-year period or, if earlier, upon the retirement eligibility date of the holder. The fair values of stock option grants in the stated periods were computed using the following range of assumptions for our various stock compensation plans:


	2021	2020
Risk-free interest rates	0.0 - 1.8%	0.0 - 0.6%
Dividend yield	1.5%	1.8%
Expected volatility	21.3%	22.8%
Expected lives (in years)	7.9	7.9

The following is a summary of our stock option activity for the nine months ended August 31, 2021 and 2020:


	2021			2020
(shares in millions)	Number of Shares	Weighted- Average Exercise Price		Number of Shares	Weighted- Average Exercise Price
Outstanding at beginning of period	4.5	$	53.56	5.2	$	48.09
Granted	0.8	89.16		0.8	69.31
Exercised	(0.2)	48.60		(1.4)	40.94
Outstanding at end of the period	5.1	$	59.44	4.6	$	53.44
Exercisable at end of the period	3.7	$	51.19	3.2	$	47.67

As of August 31, 2021, the intrinsic value (the difference between the exercise price and the market price) for all options outstanding was $138.9 million and for options currently exercisable was $130.1 million. The total intrinsic value of all options exercised during the nine months ended August 31, 2021 and 2020 was $7.3 million and $65.3 million, respectively.

The following is a summary of our RSU activity for the nine months ended August 31, 2021 and 2020:


	2021			2020
(shares in thousands)	Number of Shares	Weighted- Average Grant-Date Fair Value		Number of Shares	Weighted- Average Grant-Date Fair Value
Outstanding at beginning of period	714	$	61.74	762	$	57.95
Granted	219	86.86		296	67.03
Vested	(284)	62.31		(274)	54.99
Forfeited	(28)	75.02		(14)	62.15
Outstanding at end of period	621	$	69.75	770	$	62.41

The following is a summary of our Price-Vested Stock Options activity for the nine months ended August 31, 2021:



(shares in thousands)	Number of Shares	Weighted- Average Grant-Date Fair Value
Outstanding at beginning of period	2,482	$	9.40
Granted	15	9.66

Forfeited	(245)	9.42
Outstanding at end of period	2,252	$	9.40

The following is a summary of our LTPP activity for the nine months ended August 31, 2021 and 2020:


	2021			2020
(shares in thousands)	Number of Shares	Weighted- Average Grant-Date Fair Value		Number of Shares	Weighted- Average Grant-Date Fair Value
Outstanding at beginning of period	382	$	71.20	392	$	57.98
Granted	141	98.30		130	86.14
Vested	(124)	51.73		(88)	44.98
Forfeited	(23)	89.44		(6)	63.73
Outstanding at end of period	376	$	86.73	428	$	69.13

Income Taxes	9 Months Ended
Income Taxes	Aug. 31, 2021
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Income tax expense for the three months ended August 31, 2021 included $22.9 million of net discrete tax benefits consisting principally of the following: (i) $13.3 million of tax benefits due to the partial release of certain reserves for an unrecognized tax benefit and related interest in a non-U.S. jurisdiction based on a change in our assessment of the technical merits of that position associated with the availability of new information, (ii) $4.3 million of tax benefits from the resolution of other tax uncertainties, including the reversal of certain reserves for unrecognized tax benefits and related interest associated with the expiration of statutes of limitations, (iii) $2.4 million of tax benefits related to the revaluation of deferred taxes resulting from enacted legislation, (iv) $1.1 million of tax benefits resulting from an adjustment to a prior year tax accrual based on the final return filed, and (v) $1.0 million of tax benefits resulting from a refinement of deferred state taxes directly related to our December 2020 acquisition of FONA. Income tax expense for the nine months ended August 31, 2021 included $22.9 million of net discrete tax benefits consisting primarily of the following: (i) $13.3 million of tax benefits due to the partial release of certain reserves for an unrecognized tax benefit and related interest in a non-U.S. jurisdiction based on a change in our assessment of the technical merits of that position associated with the availability of new information, (ii) $9.2 million of tax benefits from the resolution of other tax uncertainties, including the reversal of certain reserves for unrecognized tax benefits and related interest associated with the expiration of statutes of limitations, (iii) $10.4 million of deferred state tax expense directly related to our December 2020 acquisition of FONA, (iv) $4.5 million of tax benefits associated with the release of a valuation allowance due to a change in judgment about realizability of deferred tax assets, (v) $2.2 million of excess tax benefits associated with share-based compensation, (vi) $2.5 million of tax benefits related to the revaluation of deferred taxes resulting from enacted legislation, and (vii) $1.1 million of tax benefits resulting from an adjustment to a prior year tax accrual based on the final return filed. Income taxes for the three months ended August 31, 2020 included $13.2 million of discrete tax benefits consisting principally of the following: (i) $7.3 million of excess tax benefits associated with share-based compensation, (ii) $2.1 million of tax benefits related to the reversal of unrecognized tax benefits and related interest associated with the expiration of statutes of limitations, (iii) $2.0 million for an adjustment to a prior year tax accrual based on the final return filed, and (iv) $1.1 million related to the revaluation of deferred taxes resulting from enacted legislation. Income taxes for the nine months ended August 31, 2020 included $40.1 million of discrete tax benefits consisting principally of the following: (i) $13.0 million of excess tax benefits associated with share-based compensation, (ii) $9.9 million of tax benefits associated with an intra-entity asset transfer that occurred during the first quarter, (iii) $9.3 million of tax benefits associated with the release of a valuation allowance due to a change in judgment about realizability of deferred tax assets, (iv) $5.5 million of tax benefits related to the reversal of unrecognized tax benefits and related interest associated with the expiration of statutes of limitations in various jurisdictions, and (v) $2.0 million for an adjustment to a prior year tax accrual based on the final return filed. Other than additions for current year tax positions and the reversal of unrecognized tax benefits and related interest noted above, there were no significant changes to unrecognized tax benefits during the nine months ended August 31, 2021. As of August 31, 2021, we believe the reasonably possible total amount of unrecognized tax benefits that could increase or decrease in the next 12 months as a result of various statute expirations, audit closures, and/or tax settlements would not be material to our consolidated financial statements.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Earnings Per Share and Stock Issuances

9 Months Ended

Aug. 31, 2021

Earnings Per Share, Basic and Diluted [Abstract]

EARNINGS PER SHARE AND STOCK ISSUANCES

CAPITAL STOCK AND EARNINGS PER SHARE

On April 5, 2021, following approval by the Company’s shareholders on March 31, 2021, amendments to the Company’s Charter became effective that increased the number of authorized shares of each class of common stock from 320,000,000 to 640,000,000 and established the par value of each class of common stock at $0.01 per share. The par value and additional paid in capital associated with each class of common stock is recorded in Common stock and Common stock non-voting in our consolidated balance sheet.

The following table sets forth the reconciliation of average shares outstanding (in millions):


	Three months ended August 31,		Nine months ended August 31,
	2021	2020	2021	2020
Average shares outstanding – basic	267.4	266.7	267.2	266.3
Effect of dilutive securities:
Stock options/RSUs/LTPP	2.6	2.9	2.8	2.7
Average shares outstanding – diluted	270.0	269.6	270.0	269.0

The following table sets forth the stock options and RSUs that were not considered in our earnings per share calculation since they were anti-dilutive (in millions):


	Three months ended August 31,		Nine months ended August 31,
	2021	2020	2021	2020
Anti-dilutive securities	0.8	—	0.6	0.2

The following table sets forth the common stock activity (in millions):


	Three months ended August 31,		Nine months ended August 31,
	2021	2020	2021	2020
Shares issued under stock options, RSUs, LTPP and employee stock purchase plans	0.1	0.7	0.6	1.7
Shares repurchased under the stock repurchase program and shares withheld for taxes under stock options, RSUs, LTPP and employee stock purchase plans	0.1	0.4	0.2	0.7

As of August 31, 2021, $581.4 million remained of the $600 million share repurchase program authorization approved by our Board of Directors in November 2019.

Accumulated Other Comprehensive Income (Loss)

9 Months Ended

Aug. 31, 2021

Other Comprehensive Income (Loss), Net of Tax [Abstract]

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

ACCUMULATED OTHER COMPREHENSIVE LOSS

The following table sets forth the components of accumulated other comprehensive loss, net of tax, where applicable (in millions):


	August 31, 2021		November 30, 2020
Foreign currency translation adjustment (1)	$	(147.0)	$	(174.0)
Unrealized gain (loss) on foreign currency exchange contracts	1.9		(0.4)

Unamortized value of settled interest rate swaps	(0.2)		(0.1)
Pension and other postretirement costs	(290.3)		(296.3)
Accumulated other comprehensive loss	$	(435.6)	$	(470.8)

(1)During the nine months ended August 31, 2021, the foreign currency translation adjustment of Accumulated other comprehensive loss decreased on a net basis by $27.0 million, including the impact of a $4.9 million decrease associated with net investment hedges. These net investment hedges are more fully described in note 5.

The following table sets forth the amounts reclassified from Accumulated other comprehensive income (loss) and into consolidated net income (in millions):


	Three months ended				Nine months ended				Affected Line Items in the Condensed Consolidated Income Statement
Accumulated other comprehensive income (loss) components	August 31, 2021		August 31, 2020		August 31, 2021		August 31, 2020
(Gains)/losses on cash flow hedges:
Interest rate derivatives	$	(0.2)	$	(0.2)	$	(0.4)	$	(0.4)	Interest expense
Foreign exchange contracts	0.3		(1.1)		0.6		(1.2)		Cost of goods sold
Total before tax	0.1		(1.3)		0.2		(1.6)
Tax effect	—		0.3		—		0.4		Income tax expense
Net, after tax	$	0.1	$	(1.0)	$	0.2	$	(1.2)

Amortization of pension and postretirement benefit adjustments:
Amortization of prior service costs (credit) (1)	$	0.1	$	(0.9)	$	0.2	$	(3.0)	Other income, net
Amortization of net actuarial losses (1)	3.5		3.2		10.5		8.5		Other income, net
Total before tax	3.6		2.3		10.7		5.5
Tax effect	(0.8)		(0.6)		(2.5)		(1.3)		Income tax expense
Net, after tax	$	2.8	$	1.7	$	8.2	$	4.2

(1)This Accumulated other comprehensive income (loss) component is included in the computation of total pension expense and other postretirement benefits expense (refer to note 7 for additional details). Amortization of net actuarial losses includes settlement losses.

Business Segments

9 Months Ended

Aug. 31, 2021

Segment Reporting [Abstract]

BUSINESS SEGMENTS

We operate in two business segments: consumer and flavor solutions. The consumer and flavor solutions segments manufacture, market and distribute spices, herbs, seasoning mixes, condiments and other flavorful products throughout the world. Our consumer segment sells to retail channels, including grocery, mass merchandise, warehouse clubs, discount and drug stores, and e-commerce under the “McCormick” brand and a variety of brands around the world, including “French’s”, “Frank’s RedHot”, “OLD BAY”, “Lawry’s”, “Zatarain’s”, “Simply Asia”, “Thai Kitchen”, “Ducros”, “Vahine”, “Cholula”, “Schwartz”, “Club House”, “Kamis”, “Kohinoor”, “DaQiao”, “La Drogheria”, “Stubb's”, and “Gourmet Garden”. Our flavor solutions segment sells to food manufacturers and the foodservice industry both directly and indirectly through distributors, with the exception of our businesses in China and India, where foodservice sales are managed by and reported in our consumer segment.

In each of our segments, we produce and sell many individual products which are similar in composition and nature. With their primary attribute being flavor, we regard the products within each of our segments to be fairly homogenous. It is impracticable to segregate and identify sales and profits for each of these individual product lines.

We measure segment performance based on operating income excluding special charges, as this activity is managed separately from the business segments. We also exclude transaction and integration expenses related to our acquisitions of Cholula and FONA from our measure of segment performance as these expenses are similarly managed separately from the business segments. These transaction and integration expenses excluded from our segment performance measure include the amortization of the acquisition-date fair value adjustment of inventories that is included in Cost of goods sold, costs directly associated with that acquisition and costs associated with integrating the businesses.

Although the segments are managed separately due to their distinct distribution channels and marketing strategies, manufacturing and warehousing are often integrated to maximize cost efficiencies. We do not segregate jointly utilized assets by individual segment for internal reporting, evaluating performance or allocating capital. Because of manufacturing integration for certain products within the segments, products are not sold from one segment to another but rather inventory is transferred at cost. Intersegment sales are not material.


	Consumer		Flavor Solutions		Total
			(in millions)
Three months ended August 31, 2021
Net sales	$	921.9	$	627.5	$	1,549.4
Operating income excluding special charges and transaction and integration expenses	187.8		84.5		272.3
Income from unconsolidated operations	6.7		2.4		9.1

Three months ended August 31, 2020
Net sales	$	910.9	$	519.4	$	1,430.3
Operating income excluding special charges	209.0		64.1		273.1
Income from unconsolidated operations	8.5		1.1		9.6

Nine months ended August 31, 2021
Net sales	$	2,813.9	$	1,773.7	$	4,587.6
Operating income excluding special charges and transaction and integration expenses	554.5		238.3		792.8
Income from unconsolidated operations	39.7		6.1		45.8

Nine months ended August 31, 2020
Net sales	$	2,573.0	$	1,470.4	$	4,043.4
Operating income excluding special charges	560.2		168.4		728.6
Income from unconsolidated operations	24.7		5.5		30.2

A reconciliation of operating income excluding special charges and, for 2021, transaction and integration expenses, to operating income is as follows (in millions):


	Consumer		Flavor Solutions		Total
Three months ended August 31, 2021
Operating income excluding special charges and transaction and integration expenses	$	187.8	$	84.5	$	272.3
Less: Special charges	3.5		2.3		5.8

Less: Other transaction and integration expenses	0.2		1.1		1.3
Operating income	$	184.1	$	81.1	$	265.2

Three months ended August 31, 2020
Operating income excluding special charges	$	209.0	$	64.1	$	273.1

Less: Special charges	—		0.1		0.1
Operating income	$	209.0	$	64.0	$	273.0

Nine months ended August 31, 2021
Operating income excluding special charges and transaction and integration expenses	$	554.5	$	238.3	$	792.8
Less: Special charges	13.1		7.5		20.6
Less: Transaction-related expenses included in cost of goods sold	4.0		2.3		6.3
Less: Other transaction and integration expenses	7.5		19.5		27.0
Operating income	$	529.9	$	209.0	$	738.9

Nine months ended August 31, 2020
Operating income excluding special charges	$	560.2	$	168.4	$	728.6
Less: Special charges	3.1		0.9		4.0
Operating income	$	557.1	$	167.5	$	724.6

The following table sets forth our net sales, by geographic area, for the three and nine months ended August 31, 2021 and 2020 (in millions):


	Americas		EMEA		Asia/Pacific		Total

Three months ended August 31, 2021	$	1,084.5	$	283.4	$	181.5	$	1,549.4
Three months ended August 31, 2020	1,010.5		262.7		157.1		1,430.3

Nine months ended August 31, 2021	3,130.7		890.7		566.2		4,587.6
Nine months ended August 31, 2020	2,855.5		756.7		431.2		4,043.4

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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-Publisher FASB
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-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599

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+ Details

Accounting Policies (Policies)	9 Months Ended
Accounting Policies (Policies)	Aug. 31, 2021
Accounting Policies [Abstract]
Accounting and disclosure charges	Revenue Recognition The following supplements the description of our accounting policies with respect to revenue recognition contained in note 1 of the notes to the consolidated financial statements included in our Annual Report on Form 10-K for the year ended November 30, 2020: Our revenue arrangements generally include a single performance obligation relating to the fulfillment of a customer order, which in some cases are governed by a master sales agreement, for the purchase of our products. We recognize revenue at a point in time when control of the ordered products passes to the customer, which principally occurs either upon shipment or delivery to the customer or upon pick-up by the customer, depending upon terms included in the particular customer arrangement. Accounting Pronouncements Adopted in 2021 In January 2017, the FASB issued ASU No. 2017-04 Intangibles—Goodwill and Other Topics (Topic 350)—Simplifying the Test for Goodwill Impairment. This guidance eliminates the requirement to calculate the implied fair value of goodwill of a reporting unit to measure a goodwill impairment charge. Instead, a company will record an impairment charge based on the excess of a reporting unit's carrying amount over its fair value. This new standard was adopted effective December 1, 2020 and will be applied upon recognition of any future goodwill impairment charge. We do not expect this ASU to have a material impact on our financial statements. In June 2016, the FASB issued ASU No. 2016-13 Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which instituted a new model for recognizing credit losses on financial instruments that are not measured at fair value. This standard was adopted by the Company on December 1, 2020. As this ASU did not have a material impact on our consolidated financial statements upon adoption, a cumulative-effect adjustment to retained earnings was not necessary. Recently Issued Accounting Pronouncements — Pending Adoption In December 2019, the FASB issued ASU No. 2019-12 Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. The new guidance removes certain exceptions to the general principles for income taxes and also improves consistent application of accounting by clarifying or amending existing guidance. The new standard is effective for the first quarter of our fiscal year ending November 30, 2022, and interim periods within those years. We are currently evaluating the impact that the new guidance will have on our consolidated financial statements. In March 2020, the FASB issued ASU No. 2020-04 Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting that provides optional expedients for a limited period of time for accounting for contracts, hedging relationship, and other transactions affected by the London Interbank Offered Rate (LIBOR) or other reference rates expected to be discontinued. These optional expedients can be applied from March 2020 through December 31, 2022. We are currently evaluating the impact that the new guidance will have on our consolidated financial statements.

Business Combinations (Tables)

9 Months Ended

Aug. 31, 2021

Business Combination and Asset Acquisition [Abstract]

Schedule of Business Acquisitions, by Acquisition

The final purchase price allocation for Cholula resulted in the following fair value allocations, net of cash acquired (in millions):


Trade accounts receivable	$	15.0
Inventories	16.5
Goodwill	411.3
Intangible assets	401.0
Other assets	10.5
Trade accounts payable	(7.0)
Other accrued liabilities	(8.1)
Deferred taxes	(35.1)
Other long-term liabilities	(2.9)
Total	$	801.2

The preliminary allocation, net of cash acquired, of the fair value of the FONA acquisition is summarized in the table below (in millions):


Trade accounts receivable	$	12.4
Inventories	10.3
Goodwill	389.4
Intangible assets	266.0
Property, plant and equipment	36.3
Other assets	5.5
Trade accounts payable	(3.7)
Other accrued liabilities	(8.0)


Total	$	708.2

Business Combination, Separately Recognized Transactions

The following are the Transaction and integration expenses recognized during the three and nine months ended August 31, 2021 relating to the Cholula and FONA acquisitions (in millions):


	Three months ended August 31, 2021		Nine months ended August 31, 2021
Transaction-related expenses included in cost of goods sold	$	—	$	6.3
Other transaction expenses	—		13.8
Integration expenses	1.3		13.2
Total transaction and integration expenses	$	1.3	$	33.3

Special Charges (Tables)

9 Months Ended

Aug. 31, 2021

Segment Reporting Information [Line Items]

Special Charges Summary [Table Text Block]

The following is a summary of Special charges recognized in the three and nine months ended August 31, 2021 and 2020

(in millions):


	Three months ended August 31,				Nine months ended August 31,
	2021		2020		2021		2020
Employee severance and related benefits	$	2.8	$	—	$	7.6	$	2.2
Other costs	3.0		0.1		13.0		1.8
Total	$	5.8	$	0.1	$	20.6	$	4.0

Special Charges Summary by Segment [Table Text Block]

The following is a breakdown by business segment of Special charges for the three and nine months ended August 31, 2021 and 2020 (in millions):


	Three months ended August 31,				Nine months ended August 31,
	2021		2020		2021		2020
Consumer segment	$	3.5	$	—	$	13.1	$	3.1
Flavor solutions segment	2.3		0.1		7.5		0.9
Total special charges	$	5.8	$	0.1	$	20.6	$	4.0

Goodwill (Tables)

9 Months Ended

Aug. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The changes in the carrying amount of goodwill by business segment for the nine months ended August 31, 2021 are as follows (in millions):



	Consumer		Flavor Solutions
Beginning of the year	$	3,711.2	$	1,275.1

Increases in goodwill from acquisition	—		389.4
Changes in preliminary purchase price allocation	0.5		0.3
Foreign currency fluctuations	0.3		2.7
Balance as of the end of period	$	3,712.0	$	1,667.5

Financial Arrangements and Financial Instruments (Tables)

9 Months Ended

Aug. 31, 2021

Fair values of derivative instruments on balance sheet

The following table discloses the notional amount and fair values of derivative instruments on our balance sheet (in millions):



As of August 31, 2021	Asset Derivatives					Liability Derivatives
	Balance sheet location	Notional amount		Fair value		Balance sheet location	Notional amount		Fair value
Interest rate contracts	Other current assets / Other long-term assets	$	350.0	$	30.0	Other accrued liabilities	$	—	$	—
Foreign exchange contracts	Other current assets	444.0		6.2		Other accrued liabilities	154.1		1.6
Cross currency contracts	Other current assets / Other long-term assets	261.9		2.8		Other long-term liabilities	266.8		17.2
Total				$	39.0				$	18.8

As of November 30, 2020	Asset Derivatives					Liability Derivatives
	Balance sheet location	Notional amount		Fair value		Balance sheet location	Notional amount		Fair value
Interest rate contracts	Other current assets / Other long-term assets	$	350.0	$	43.1	Other accrued liabilities	$	—	$	—
Foreign exchange contracts	Other current assets	27.5		1.4		Other accrued liabilities	356.3		8.2
Cross currency contracts	Other current assets / Other long-term assets	—		—		Other long-term liabilities	524.4		18.8
Total				$	44.5				$	27.0

Impact of fair value and cash flow hedges on other comprehensive income, accumulated other comprehensive income and income statement


Fair Value Hedges

Derivative	Income statement location	Income (expense)
		Three months ended August 31, 2021		Three months ended August 31, 2020		Nine months ended August 31, 2021		Nine months ended August 31, 2020

Interest rate contracts	Interest expense	$	2.1	$	1.8	$	6.1	$	3.2


Three months ended August 31,	Income statement location	Gain (loss) recognized in income					Income statement location	Gain (loss) recognized in income
Derivative		2021		2020		Hedged item		2021		2020
Foreign exchange contracts	Other income, net	$	5.6	$	(7.6)	Intercompany loans	Other income, net	$	(5.4)	$	7.3


Nine months ended August 31,	Income statement location	Gain (loss) recognized in income					Income statement location	Gain (loss) recognized in income
Derivative		2021		2020		Hedged item		2021		2020
Foreign exchange contracts	Other income, net	$	(0.3)	$	(4.1)	Intercompany loans	Other income, net	$	1.1	$	3.1


Cash Flow Hedges
Three months ended August 31,
Derivative	Gain (loss) recognized in OCI				Income statement location	Gain (loss) reclassified from AOCI
	2021		2020			2021		2020
Interest rate contracts	$	—	$	—	Interest expense	$	0.2	$	0.2
Foreign exchange contracts	1.5		(0.6)		Cost of goods sold	(0.3)		1.1
Total	$	1.5	$	(0.6)		$	(0.1)	$	1.3

Nine months ended August 31,
Derivative	Gain (loss) recognized in OCI				Income statement location	Gain (loss) reclassified from AOCI
	2021		2020			2021		2020
Interest rate contracts	$	0.3	$	—	Interest expense	$	0.4	$	0.4
Foreign exchange contracts	(0.9)		2.3		Cost of goods sold	(0.6)		1.2
Total	$	(0.6)	$	2.3		$	(0.2)	$	1.6


Net Investment Hedges
Three months ended August 31,
Derivative	Gain (loss) recognized in OCI				Income statement location	Gain (loss) excluded from the assessment of hedge effectiveness
	2021		2020			2021		2020
Cross currency contracts	$	8.4	$	(17.4)	Interest expense	$	0.4	$	0.3

Nine months ended August 31,
Derivative	Gain (loss) recognized in OCI				Income statement location	Gain (loss) excluded from the assessment of hedge effectiveness
	2021		2020			2021		2020
Cross currency contracts	$	4.9	$	(20.7)	Interest expense	$	1.1	$	2.7

Fair Value Measurements (Tables)

9 Months Ended

Aug. 31, 2021

Fair Value Disclosures [Abstract]

Assets and liabilities measured at fair value on recurring basis

Our population of financial assets and liabilities subject to fair value measurements on a recurring basis are as follows (in millions):


			August 31, 2021
	Fair Value		Level 1		Level 2
Assets
Cash and cash equivalents	$	312.6	$	312.6	$	—
Insurance contracts	138.8		—		138.8
Bonds and other long-term investments	2.0		2.0		—
Interest rate derivatives	30.0		—		30.0
Foreign currency derivatives	6.2		—		6.2
Cross currency contracts	2.8		—		2.8
Total	$	492.4	$	314.6	$	177.8
Liabilities
Foreign currency derivatives	$	1.6	$	—	$	1.6

Cross currency contracts	17.2		—		17.2
Total	$	18.8	$	—	$	18.8


			November 30, 2020
	Fair Value		Level 1		Level 2
Assets
Cash and cash equivalents	$	423.6	$	423.6	$	—
Insurance contracts	126.0		—		126.0
Bonds and other long-term investments	3.9		3.9		—
Interest rate derivatives	43.1		—		43.1
Foreign currency derivatives	1.4		—		1.4

Total	$	598.0	$	427.5	$	170.5
Liabilities
Foreign currency derivatives	$	8.2	$	—	$	8.2

Cross currency contracts	18.8		—		18.8
Total	$	27.0	$	—	$	27.0

Fair Value, by Balance Sheet Grouping

The following table sets forth the carrying amounts and fair values of our long-term debt including the current portion thereof (in millions):


	August 31, 2021		November 30, 2020
Carrying amount	$	4,753.5	$	4,017.7
Fair value	5,009.5		4,357.1

Level 1 valuation techniques	$	4,807.4	$	4,161.3
Level 2 valuation techniques	202.1		195.8
Total fair value	$	5,009.5	$	4,357.1

Employee Benefit and Retirement Plans (Tables)

9 Months Ended

Aug. 31, 2021

Retirement Benefits [Abstract]

Schedule of defined benefit plans disclosures

The following table presents the components of our pension expense (income) of the defined benefit plans for the three months ended August 31, 2021 and 2020 (in millions):


	United States				International
	2021		2020		2021		2020
Defined benefit plans
Service cost	$	0.9	$	0.8	$	0.3	$	0.2
Interest costs	6.5		7.3		1.8		1.9
Expected return on plan assets	(10.3)		(10.2)		(3.5)		(3.7)
Amortization of prior service costs	0.2		0.2		—		0.1
Amortization of net actuarial losses	2.7		2.0		0.6		0.5
Settlement loss	—		—		0.2		0.7
Total pension expense (income)	$	—	$	0.1	$	(0.6)	$	(0.3)

The following table presents the components of our pension expense (income) of the defined benefit plans for the nine months ended August 31, 2021 and 2020 (in millions):


	United States				International
	2021		2020		2021		2020
Defined benefit plans
Service cost	$	2.8	$	2.4	$	0.8	$	0.7
Interest costs	19.5		22.0		5.3		5.6
Expected return on plan assets	(30.9)		(30.5)		(10.5)		(11.2)
Amortization of prior service costs	0.4		0.4		0.1		0.1
Amortization of net actuarial losses	8.2		5.9		1.7		1.5
Settlement loss	—		—		0.6		1.2
Total pension expense (income)	$	—	$	0.2	$	(2.0)	$	(2.1)

Schedule of costs of retirement plans

The following table presents the components of our other postretirement benefits expense (income) (in millions):


	Three months ended August 31,				Nine months ended August 31,
	2021		2020		2021		2020
Other postretirement benefits
Service cost	$	0.5	$	0.5	$	1.5	$	1.4
Interest costs	0.4		0.5		1.2		1.5
Amortization of prior service credits	(0.1)		(1.2)		(0.3)		(3.5)
Amortization of net actuarial gains	—		—		—		(0.1)

Total other postretirement benefits expense (income)	$	0.8	$	(0.2)	$	2.4	$	(0.7)

Stock-Based Compensation (Tables)

9 Months Ended

Aug. 31, 2021

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock Based Compensation in Selling, General and Administrative Expense

The following table sets forth the stock-based compensation expense recorded in Selling, general and administrative ("SG&A") expense (in millions):


	Three months ended August 31,				Nine months ended August 31,
	2021		2020		2021		2020
Stock-based compensation expense	$	11.6	$	10.7	$	54.2	$	37.8

Summary of Option Activity

The following is a summary of our stock option activity for the nine months ended August 31, 2021 and 2020:


	2021			2020
(shares in millions)	Number of Shares	Weighted- Average Exercise Price		Number of Shares	Weighted- Average Exercise Price
Outstanding at beginning of period	4.5	$	53.56	5.2	$	48.09
Granted	0.8	89.16		0.8	69.31
Exercised	(0.2)	48.60		(1.4)	40.94
Outstanding at end of the period	5.1	$	59.44	4.6	$	53.44
Exercisable at end of the period	3.7	$	51.19	3.2	$	47.67

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]


	2021	2020
Risk-free interest rates	0.0 - 1.8%	0.0 - 0.6%
Dividend yield	1.5%	1.8%
Expected volatility	21.3%	22.8%
Expected lives (in years)	7.9	7.9

Schedule of Share-based Compensation, Restricted Stock Units Award Activity

The following is a summary of our RSU activity for the nine months ended August 31, 2021 and 2020:


	2021			2020
(shares in thousands)	Number of Shares	Weighted- Average Grant-Date Fair Value		Number of Shares	Weighted- Average Grant-Date Fair Value
Outstanding at beginning of period	714	$	61.74	762	$	57.95
Granted	219	86.86		296	67.03
Vested	(284)	62.31		(274)	54.99
Forfeited	(28)	75.02		(14)	62.15
Outstanding at end of period	621	$	69.75	770	$	62.41

Schedule of Share Based Compensation, Performance Shares, Activity

The following is a summary of our LTPP activity for the nine months ended August 31, 2021 and 2020:


	2021			2020
(shares in thousands)	Number of Shares	Weighted- Average Grant-Date Fair Value		Number of Shares	Weighted- Average Grant-Date Fair Value
Outstanding at beginning of period	382	$	71.20	392	$	57.98
Granted	141	98.30		130	86.14
Vested	(124)	51.73		(88)	44.98
Forfeited	(23)	89.44		(6)	63.73
Outstanding at end of period	376	$	86.73	428	$	69.13

Price Vested Stock Options

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Share-based Payment Arrangement, Activity

The following is a summary of our Price-Vested Stock Options activity for the nine months ended August 31, 2021:



(shares in thousands)	Number of Shares	Weighted- Average Grant-Date Fair Value
Outstanding at beginning of period	2,482	$	9.40
Granted	15	9.66

Forfeited	(245)	9.42
Outstanding at end of period	2,252	$	9.40

Earnings Per Share and Stock Issuances (Tables)

9 Months Ended

Aug. 31, 2021

Earnings Per Share, Basic and Diluted [Abstract]

Reconciliation of average shares outstanding

The following table sets forth the reconciliation of average shares outstanding (in millions):


	Three months ended August 31,		Nine months ended August 31,
	2021	2020	2021	2020
Average shares outstanding – basic	267.4	266.7	267.2	266.3
Effect of dilutive securities:
Stock options/RSUs/LTPP	2.6	2.9	2.8	2.7
Average shares outstanding – diluted	270.0	269.6	270.0	269.0

Anti-dilutive securities not considered in earnings per share calculation

The following table sets forth the stock options and RSUs that were not considered in our earnings per share calculation since they were anti-dilutive (in millions):


	Three months ended August 31,		Nine months ended August 31,
	2021	2020	2021	2020
Anti-dilutive securities	0.8	—	0.6	0.2

Common stock activity

The following table sets forth the common stock activity (in millions):


	Three months ended August 31,		Nine months ended August 31,
	2021	2020	2021	2020
Shares issued under stock options, RSUs, LTPP and employee stock purchase plans	0.1	0.7	0.6	1.7
Shares repurchased under the stock repurchase program and shares withheld for taxes under stock options, RSUs, LTPP and employee stock purchase plans	0.1	0.4	0.2	0.7

Accumulated Other Comprehensive Income (Loss) (Tables)

9 Months Ended

Aug. 31, 2021

Other Comprehensive Income (Loss), Net of Tax [Abstract]

Schedule of accumulated other comprehensive income (loss)

The following table sets forth the components of accumulated other comprehensive loss, net of tax, where applicable (in millions):


	August 31, 2021		November 30, 2020
Foreign currency translation adjustment (1)	$	(147.0)	$	(174.0)
Unrealized gain (loss) on foreign currency exchange contracts	1.9		(0.4)

Unamortized value of settled interest rate swaps	(0.2)		(0.1)
Pension and other postretirement costs	(290.3)		(296.3)
Accumulated other comprehensive loss	$	(435.6)	$	(470.8)

Reclassification out of Accumulated Other Comprehensive Income

The following table sets forth the amounts reclassified from Accumulated other comprehensive income (loss) and into consolidated net income (in millions):


	Three months ended				Nine months ended				Affected Line Items in the Condensed Consolidated Income Statement
Accumulated other comprehensive income (loss) components	August 31, 2021		August 31, 2020		August 31, 2021		August 31, 2020
(Gains)/losses on cash flow hedges:
Interest rate derivatives	$	(0.2)	$	(0.2)	$	(0.4)	$	(0.4)	Interest expense
Foreign exchange contracts	0.3		(1.1)		0.6		(1.2)		Cost of goods sold
Total before tax	0.1		(1.3)		0.2		(1.6)
Tax effect	—		0.3		—		0.4		Income tax expense
Net, after tax	$	0.1	$	(1.0)	$	0.2	$	(1.2)

Amortization of pension and postretirement benefit adjustments:
Amortization of prior service costs (credit) (1)	$	0.1	$	(0.9)	$	0.2	$	(3.0)	Other income, net
Amortization of net actuarial losses (1)	3.5		3.2		10.5		8.5		Other income, net
Total before tax	3.6		2.3		10.7		5.5
Tax effect	(0.8)		(0.6)		(2.5)		(1.3)		Income tax expense
Net, after tax	$	2.8	$	1.7	$	8.2	$	4.2

Business Segments (Tables)

9 Months Ended

Aug. 31, 2021

Segment Reporting [Abstract]

Business segments


	Consumer		Flavor Solutions		Total
			(in millions)
Three months ended August 31, 2021
Net sales	$	921.9	$	627.5	$	1,549.4
Operating income excluding special charges and transaction and integration expenses	187.8		84.5		272.3
Income from unconsolidated operations	6.7		2.4		9.1

Three months ended August 31, 2020
Net sales	$	910.9	$	519.4	$	1,430.3
Operating income excluding special charges	209.0		64.1		273.1
Income from unconsolidated operations	8.5		1.1		9.6

Nine months ended August 31, 2021
Net sales	$	2,813.9	$	1,773.7	$	4,587.6
Operating income excluding special charges and transaction and integration expenses	554.5		238.3		792.8
Income from unconsolidated operations	39.7		6.1		45.8

Nine months ended August 31, 2020
Net sales	$	2,573.0	$	1,470.4	$	4,043.4
Operating income excluding special charges	560.2		168.4		728.6
Income from unconsolidated operations	24.7		5.5		30.2

Reconciliation of Operating Profit (Loss) from Segments to Consolidated

A reconciliation of operating income excluding special charges and, for 2021, transaction and integration expenses, to operating income is as follows (in millions):


	Consumer		Flavor Solutions		Total
Three months ended August 31, 2021
Operating income excluding special charges and transaction and integration expenses	$	187.8	$	84.5	$	272.3
Less: Special charges	3.5		2.3		5.8

Less: Other transaction and integration expenses	0.2		1.1		1.3
Operating income	$	184.1	$	81.1	$	265.2

Three months ended August 31, 2020
Operating income excluding special charges	$	209.0	$	64.1	$	273.1

Less: Special charges	—		0.1		0.1
Operating income	$	209.0	$	64.0	$	273.0

Nine months ended August 31, 2021
Operating income excluding special charges and transaction and integration expenses	$	554.5	$	238.3	$	792.8
Less: Special charges	13.1		7.5		20.6
Less: Transaction-related expenses included in cost of goods sold	4.0		2.3		6.3
Less: Other transaction and integration expenses	7.5		19.5		27.0
Operating income	$	529.9	$	209.0	$	738.9

Nine months ended August 31, 2020
Operating income excluding special charges	$	560.2	$	168.4	$	728.6
Less: Special charges	3.1		0.9		4.0
Operating income	$	557.1	$	167.5	$	724.6

Schedule of Disclosure on Geographic Areas

The following table sets forth our net sales, by geographic area, for the three and nine months ended August 31, 2021 and 2020 (in millions):


	Americas		EMEA		Asia/Pacific		Total

Three months ended August 31, 2021	$	1,084.5	$	283.4	$	181.5	$	1,549.4
Three months ended August 31, 2020	1,010.5		262.7		157.1		1,430.3

Nine months ended August 31, 2021	3,130.7		890.7		566.2		4,587.6
Nine months ended August 31, 2020	2,855.5		756.7		431.2		4,043.4

Business Combinations - Additional Information (Details) - USD ($)	3 Months Ended	9 Months Ended	12 Months Ended
	Aug. 31, 2021	Aug. 31, 2021	Nov. 30, 2020	May 31, 2021
Business Acquisition [Line Items]
Goodwill	$ 5,379,500,000	$ 5,379,500,000	$ 4,986,300,000
Finite-Lived Intangible Asset, Useful Life		12 years
Business Acquisition, Transaction Costs			12,400,000
Total transaction and integration costs	1,300,000	$ 33,300,000
Proceeds from sale of unconsolidated operation		65,400,000
Cholula
Business Acquisition [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired		801,200,000	801,200,000
Business Acquisition, Pro Forma Revenue			$ 96,000,000
Goodwill	800,000	800,000
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Inventory		4,900,000
Increases in goodwill from acquisitions		411,300,000
Estimated business combination costs		30,000,000
working capital adjustemts				$ (1,500,000)
FONA
Business Acquisition [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired		708,200,000
Business Acquisition, Pro Forma Revenue		114,000,000
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Inventory		1,400,000
Indefinite-lived Intangible Assets Acquired		49,000,000
Finite-lived Intangible Assets Acquired		$ 173,000,000
Finite-Lived Intangible Asset, Useful Life		15 years
Other Finite-Lived Intangible Assets, Gross	44,000,000	$ 44,000,000
Increases in goodwill from acquisitions		389,400,000
Estimated business combination costs		25,000,000
working capital adjustemts				$ 2,600,000
Eastern
Business Acquisition [Line Items]
Business Acquisition, Transaction Costs	$ 1,400,000	1,400,000
Proceeds from sale of unconsolidated operation		$ 65,400,000
Equity Method Investment, Ownership Percentage	26.00%	26.00%
Gain on Sale of Investments		$ 13,400,000
Income Taxes on Sale of Investment		5,700,000
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment from AOCI, Realized upon Sale or Liquidation, before Tax		$ 1,400,000

Business Combinations - Transaction and Integration Expenses (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Aug. 31, 2021	Aug. 31, 2020	Aug. 31, 2021	Aug. 31, 2020
Business Combination, Separately Recognized Transactions [Line Items]
Business Combination, Integration Related Costs	$ 1.3		$ 13.2
Total transaction and integration costs	1.3		33.3
Transaction and integration expenses	1.3	$ 0.0	27.0	$ 0.0
Cost of Sales
Business Combination, Separately Recognized Transactions [Line Items]
Transaction and integration expenses	0.0		6.3
Selling, General and Administrative Expenses
Business Combination, Separately Recognized Transactions [Line Items]
Transaction and integration expenses	$ 0.0		$ 13.8

Business Combinations (Details) - USD ($)	9 Months Ended	12 Months Ended
Business Combinations (Details) - USD ($)	Aug. 31, 2021	Nov. 30, 2020
FONA
Business Acquisition [Line Items]
Business Combination, Acquired Receivables, Gross Contractual Amount	$ 12,400,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory	10,300,000
Increases in goodwill from acquisitions	389,400,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	266,000,000.0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Equipment	36,300,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets	5,500,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable	(3,700,000)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other	(8,000,000.0)
Payments to Acquire Businesses, Net of Cash Acquired	708,200,000
Cholula
Business Acquisition [Line Items]
Business Combination, Acquired Receivables, Gross Contractual Amount	15,000,000.0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory	16,500,000
Increases in goodwill from acquisitions	411,300,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	401,000,000.0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets	10,500,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable	(7,000,000.0)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other	(8,100,000)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities	(35,100,000)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other	(2,900,000)
Payments to Acquire Businesses, Net of Cash Acquired	$ 801,200,000	$ 801,200,000

Special Charges (Details) - USD ($)	3 Months Ended		9 Months Ended
Special Charges (Details) - USD ($)	Aug. 31, 2021	Aug. 31, 2020	Aug. 31, 2021	Aug. 31, 2020
Special Charges [Line Items]
Special charges	$ 5,800,000	$ 100,000	$ 20,600,000	$ 4,000,000.0
Consumer
Special Charges [Line Items]
Special charges	3,500,000	0	13,100,000	3,100,000
Flavor Solutions
Special Charges [Line Items]
Special charges	2,300,000	100,000	7,500,000	900,000
Employee Severance Charges [Member]
Special Charges [Line Items]
Special charges	2,800,000	0	7,600,000	2,200,000
Other exit costs [Member]
Special Charges [Line Items]
Special charges	3,000,000.0	100,000	13,000,000.0	1,800,000
GE_Project [Member]
Special Charges [Line Items]
Special charges	700,000		700,000	1,100,000
Special Charges cash paid			41,100,000
GE_Project [Member] \| Minimum [Member]
Special Charges [Line Items]
Special charges			60,000,000
GE_Project [Member] \| Maximum [Member]
Special Charges [Line Items]
Special charges			65,000,000
total special charges [Member]
Special Charges [Line Items]
Special charges	5,800,000	100,000	20,600,000	4,000,000.0
Special Charges Impairment			6,500,000
total special charges [Member] \| Consumer
Special Charges [Line Items]
Special charges	3,500,000	0	13,100,000	3,100,000
total special charges [Member] \| Flavor Solutions
Special Charges [Line Items]
Special charges	2,300,000	100,000	7,500,000	900,000
EMEA [Member]
Special Charges [Line Items]
Special charges	1,700,000	$ 100,000	3,000,000	$ 2,900,000
Americas [Member]
Special Charges [Line Items]
Special charges	1,800,000		7,000,000
Asia Pacific [Member]
Special Charges [Line Items]
Special charges	$ 800,000		$ 800,000

Goodwill - Segment Goodwill Rollforward (Details) $ in Millions	9 Months Ended
	Aug. 31, 2021 USD ($)
Goodwill [Line Items]
Beginning of year	$ 4,986.3
Ending of year	5,379.5
Consumer
Goodwill [Line Items]
Beginning of year	3,711.2
Increases in goodwill from acquisitions	0.0
Changes in preliminary purchase price allocation	0.5
Foreign currency fluctuations	0.3
Ending of year	3,712.0
Flavor Solutions Segment
Goodwill [Line Items]
Beginning of year	1,275.1
Increases in goodwill from acquisitions	389.4
Changes in preliminary purchase price allocation	0.3
Foreign currency fluctuations	2.7
Ending of year	$ 1,667.5

Goodwill - Additional Disclosures (Details) $ in Millions	9 Months Ended
Goodwill - Additional Disclosures (Details) $ in Millions	Aug. 31, 2021 USD ($)
Flavor Solutions Segment
Goodwill [Line Items]
Increases in goodwill from acquisitions	$ 389.4
Changes in preliminary purchase price allocation	0.3
Consumer
Goodwill [Line Items]
Increases in goodwill from acquisitions	0.0
Changes in preliminary purchase price allocation	$ 0.5

Financial Arrangements and Financial Instruments - Additional Information (Details)	3 Months Ended		9 Months Ended
	Aug. 31, 2021 USD ($)	Aug. 31, 2020 USD ($)	Aug. 31, 2021 USD ($)	Aug. 31, 2020 USD ($)	Aug. 31, 2021 GBP (£)	Aug. 31, 2021 EUR (€)	Nov. 30, 2020 USD ($)
Debt Instrument [Line Items]
Investment Foreign Currency, Contract, Foreign Currency Amount	$ 598,100,000		$ 598,100,000				$ 383,800,000
Total derivative assets, Fair Value	39,000,000.0		$ 39,000,000.0				$ 44,500,000
Maximum time frame for foreign exchange contracts, months			18 months
Amount of accumulated other comprehensive income expected to be reclassified to earnings in next 12 months	700,000		$ 700,000
Long-term debt borrowings			1,001,500,000	$ 506,400,000
Repayments of Commercial Paper			$ 1,443,000,000
Repayments of Notes Payable	250,000,000.0
Revolving Credit Facility \| Credit Facility Expiring December 2021
Debt Instrument [Line Items]
Debt Instrument, Term			364 days
Long-term Line of Credit	1,000,000,000		$ 1,000,000,000
Revolving Credit Facility \| Credit Facility Expiring June 2026 [Member]
Debt Instrument [Line Items]
Debt Instrument, Term			5 years
Long-term Line of Credit	1,500,000,000		$ 1,500,000,000
Debt Instrument, Basis Spread on Variable Rate			1.25%
Revolving Credit Facility \| Credit Facility Expiring August 2022
Debt Instrument [Line Items]
Debt Instrument, Term			5 years
Long-term Line of Credit	1,000,000,000		$ 1,000,000,000
0.90% Notes due February 2026
Debt Instrument [Line Items]
Notes Payable	$ 500,000,000		$ 500,000,000
Stated Note interest rate	0.90%		0.90%		0.90%	0.90%
Long-term debt borrowings			$ 495,700,000
1.85% Notes due February 2031
Debt Instrument [Line Items]
Notes Payable	$ 500,000,000		$ 500,000,000
Stated Note interest rate	1.85%		1.85%		1.85%	1.85%
Long-term debt borrowings			$ 492,800,000
Three Point Two Five Zero Notes Due On Two Thousand Twenty Five [Member]
Debt Instrument [Line Items]
Stated Note interest rate	3.25%		3.25%		3.25%	3.25%
Three Point Four Zero Notes Due Two Thousand Twenty Seven [Member]
Debt Instrument [Line Items]
Stated Note interest rate	3.40%		3.40%		3.40%	3.40%
3.90% Notes due July 2021
Debt Instrument [Line Items]
Notes Payable	$ 250,000,000		$ 250,000,000
Stated Note interest rate	3.90%		3.90%		3.90%	3.90%
Short-term Contract with Customer [Member]
Debt Instrument [Line Items]
Investment Foreign Currency, Contract, Foreign Currency Amount	$ 232,900,000		$ 232,900,000
Fair Value Hedging \| Foreign exchange contracts
Debt Instrument [Line Items]
Derivative, Notional Amount	391,700,000		391,700,000
Net Investment Hedging \| Cross currency contracts
Debt Instrument [Line Items]
Derivative, Notional Amount	250,000,000		250,000,000
Total derivative assets, Fair Value	250,000,000		250,000,000
Derivative, Collateral, Obligation to Return Cash \| £					£ 194,100,000
Net Investment Hedging \| Cross currency contract II
Debt Instrument [Line Items]
Derivative, Notional Amount \| £					194,100,000
Total derivative assets, Fair Value \| £					£ 194,100,000
Derivative, Collateral, Obligation to Return Cash \| €						€ 221,800,000
Other Income \| Fair Value Hedging \| Foreign exchange contracts
Debt Instrument [Line Items]
Foreign Currency Transaction Gain (Loss), Realized	5,600,000	$ (7,600,000)	(300,000)	(4,100,000)
Other Income \| Fair Value Hedging \| Loans Payable
Debt Instrument [Line Items]
Foreign Currency Transaction Gain (Loss), Realized	(5,400,000)	$ 7,300,000	1,100,000	$ 3,100,000
Interest Rate Swap \| Treasury Lock [Member]
Debt Instrument [Line Items]
Derivative, Notional Amount	350,000,000		350,000,000
Interest Rate Swap \| Treasury Lock [Member] \| Three Point Two Five Zero Notes Due On Two Thousand Twenty Five [Member]
Debt Instrument [Line Items]
Derivative, Notional Amount	$ 100,000,000		$ 100,000,000
Derivative, Fixed Interest Rate	3.25%		3.25%		3.25%	3.25%
Derivative, Basis Spread on Variable Rate	1.22%		1.22%		1.22%	1.22%
Interest Rate Swap \| Treasury Lock [Member] \| Three Point Four Zero Notes Due Two Thousand Twenty Seven [Member]
Debt Instrument [Line Items]
Derivative, Notional Amount	$ 250,000,000		$ 250,000,000
Notes Payable	750,000,000		750,000,000
Interest Rate Swap 3.40% \| Treasury Lock [Member] \| Three Point Four Zero Notes Due Two Thousand Twenty Seven [Member]
Debt Instrument [Line Items]
Derivative, Notional Amount	$ 250,000,000		$ 250,000,000
Derivative, Fixed Interest Rate	3.40%		3.40%		3.40%	3.40%
Derivative, Basis Spread on Variable Rate	0.685%		0.685%		0.685%	0.685%
Interest Rate Swap 3.25% \| Treasury Lock [Member] \| Three Point Two Five Zero Notes Due On Two Thousand Twenty Five [Member]
Debt Instrument [Line Items]
Derivative, Notional Amount	$ 100,000,000		$ 100,000,000
Notes Payable	$ 250,000,000		$ 250,000,000
Maximum [Member] \| Revolving Credit Facility \| Credit Facility Expiring June 2026 [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate			1.75%
United States LIBOR \| Net Investment Hedging \| Cross currency contracts
Debt Instrument [Line Items]
Derivative, Variable Interest Rate	0.685%		0.685%		0.685%	0.685%
Great Britain LIBOR \| Net Investment Hedging \| Cross currency contracts
Debt Instrument [Line Items]
Derivative, Variable Interest Rate	0.74%		0.74%		0.74%	0.74%
Great Britain LIBOR \| Net Investment Hedging \| Cross currency contract II
Debt Instrument [Line Items]
Derivative, Variable Interest Rate	0.74%		0.74%		0.74%	0.74%
EURIBOR \| Net Investment Hedging \| Cross currency contract II
Debt Instrument [Line Items]
Derivative, Variable Interest Rate	0.808%		0.808%		0.808%	0.808%

Financial Arrangements and Financial Instruments - Fair Value of Derivative Instruments on Balance Sheet (Detail) - USD ($) $ in Millions	Aug. 31, 2021	Nov. 30, 2020
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total derivative assets, Fair Value	$ 39.0	$ 44.5
Total derivative liabilities, Fair Value	18.8	27.0
Interest rate contracts \| Other current assets / Other long-term assets
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative Asset, Notional Amount		350.0
Interest rate contracts \| Other accrued liabilities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate contracts, Fair Value	0.0
Derivative Liability, Notional Amount	0.0	0.0
Interest rate contracts \| Other Long-term Investments [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate contracts, Fair Value		43.1
Derivative Asset, Notional Amount	350.0
Foreign exchange contracts \| Other current assets / Other long-term assets
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative Asset, Notional Amount	444.0	27.5
Foreign exchange contracts \| Other accrued liabilities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative Liability, Notional Amount	154.1	356.3
Cross currency contracts \| Other accrued liabilities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative Liability, Notional Amount	266.8	524.4
Cross currency contracts \| Other Long-term Investments [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative Asset, Notional Amount	$ 261.9	0.0
Three Point Two Five Zero Notes Due On Two Thousand Twenty Five [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated Note interest rate	3.25%
Three Point Two Five Zero Notes Due On Two Thousand Twenty Five [Member] \| Interest Rate Swap \| Treasury Lock [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative, Basis Spread on Variable Rate	1.22%
Derivative, Fixed Interest Rate	3.25%
Three Point Two Five Zero Notes Due On Two Thousand Twenty Five [Member] \| Interest Rate Swap 3.25% \| Treasury Lock [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes Payable	$ 250.0
Three Point Four Zero Notes Due Two Thousand Twenty Seven [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated Note interest rate	3.40%
Three Point Four Zero Notes Due Two Thousand Twenty Seven [Member] \| Interest Rate Swap \| Treasury Lock [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes Payable	$ 750.0
Three Point Four Zero Notes Due Two Thousand Twenty Seven [Member] \| Interest Rate Swap 3.40% \| Treasury Lock [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative, Basis Spread on Variable Rate	0.685%
Derivative, Fixed Interest Rate	3.40%
Fair Value, Measurements, Recurring [Member] \| Interest rate contracts \| Other accrued liabilities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate contracts, Fair Value		0.0
Fair Value, Measurements, Recurring [Member] \| Interest rate contracts \| Other Long-term Investments [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate contracts, Fair Value	$ 30.0
Fair Value, Measurements, Recurring [Member] \| Foreign exchange contracts \| Other current assets / Other long-term assets
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Foreign Currency Fair Value Hedge Derivative at Fair Value, Net	6.2	1.4
Fair Value, Measurements, Recurring [Member] \| Foreign exchange contracts \| Other accrued liabilities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Foreign Currency Fair Value Hedge Derivative at Fair Value, Net	1.6	8.2
Fair Value, Measurements, Recurring [Member] \| Cross currency contracts \| Liability [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Foreign Currency Fair Value Hedge Derivative at Fair Value, Net		18.8
Cross currency contracts	17.2	18.8
Fair Value, Measurements, Recurring [Member] \| Cross currency contracts \| Assets [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cross currency contracts	$ 2.8	$ 0.0

Financial Arrangements and Financial Instruments - Impact of Fair Value Hedges on Other Comprehensive Income, Accumulated Other Comprehensive Income and Income Statement (Details) - Fair Value Hedging - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Aug. 31, 2021	Aug. 31, 2020	Aug. 31, 2021	Aug. 31, 2020
Interest Expense \| Interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Interest income (expense)	$ 2.1	$ 1.8	$ 6.1	$ 3.2
Other Income \| Foreign exchange contracts
Derivative Instruments, Gain (Loss) [Line Items]
Foreign Currency Transaction Gain (Loss), Realized	5.6	(7.6)	(0.3)	(4.1)
Other Income \| Loans Payable
Derivative Instruments, Gain (Loss) [Line Items]
Foreign Currency Transaction Gain (Loss), Realized	$ (5.4)	$ 7.3	$ 1.1	$ 3.1

Financial Arrangements and Financial Instruments - Impact of Cash Flow Hedges on Other Comprehensive Income, Accumulated Other Comprehensive Income and Income Statement (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Aug. 31, 2021	Aug. 31, 2020	Aug. 31, 2021	Aug. 31, 2020
Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Gain or (Loss) recognized in OCI	$ 1.5	$ (0.6)	$ (0.6)	$ 2.3
Gain or (Loss) reclassified from AOCI	(0.1)	1.3	(0.2)	1.6
Cash Flow Hedging \| Interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain or (Loss) recognized in OCI	0.0	0.0	0.3	0.0
Cash Flow Hedging \| Interest rate contracts \| Interest Expense
Derivative Instruments, Gain (Loss) [Line Items]
Gain or (Loss) reclassified from AOCI	0.2	0.2	0.4	0.4
Cash Flow Hedging \| Foreign exchange contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain or (Loss) recognized in OCI	1.5	(0.6)	(0.9)	2.3
Cash Flow Hedging \| Foreign exchange contracts \| Cost of Sales
Derivative Instruments, Gain (Loss) [Line Items]
Gain or (Loss) reclassified from AOCI	(0.3)	1.1	(0.6)	1.2
Net Investment Hedging \| Cross currency contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain or (Loss) recognized in OCI	8.4	(17.4)	4.9	(20.7)
Net Investment Hedging \| Cross currency contracts \| Interest Expense
Derivative Instruments, Gain (Loss) [Line Items]
Gain or (Loss) reclassified from AOCI	$ 0.4	$ 0.3	$ 1.1	$ 2.7

Fair Value Measurements - Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Millions	Aug. 31, 2021	Nov. 30, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents at fair value	$ 312.6	$ 423.6
Long-term debt	4,753.5	4,017.7
Long-term debt, fair value	5,009.5	4,357.1
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	4,807.4	4,161.3
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	202.1	195.8
Fair Value, Measurements, Recurring [Member]
Assets [Abstract]
Cash and cash equivalents		423.6
Insurance contracts	138.8	126.0
Bonds and other long-term investments	2.0	3.9
Assets, Fair Value Disclosure	492.4	598.0
Liabilities [Abstract]
Total	18.8	27.0
Fair Value, Measurements, Recurring [Member] \| Level 1
Assets [Abstract]
Cash and cash equivalents	312.6	423.6
Insurance contracts	0.0	0.0
Bonds and other long-term investments	2.0	3.9
Interest Rate Derivative Assets, at Fair Value	0.0
Foreign currency derivatives	0.0	0.0
Assets, Fair Value Disclosure	314.6	427.5
Liabilities [Abstract]
Foreign currency derivatives	0.0	0.0
Interest rate derivatives	0.0
Total	0.0	0.0
Fair Value, Measurements, Recurring [Member] \| Level 2
Assets [Abstract]
Cash and cash equivalents	0.0	0.0
Insurance contracts	138.8	126.0
Bonds and other long-term investments	0.0	0.0
Interest Rate Derivative Assets, at Fair Value	30.0	43.1
Foreign currency derivatives	6.2	1.4
Assets, Fair Value Disclosure	177.8	170.5
Liabilities [Abstract]
Foreign currency derivatives	1.6	8.2
Cross currency contracts	17.2	18.8
Total	18.8	27.0
Assets [Member] \| Fair Value, Measurements, Recurring [Member] \| Level 2
Liabilities [Abstract]
Cross currency contracts	2.8
Interest rate contracts \| Other accrued liabilities
Assets [Abstract]
Interest rate contracts, Fair Value	0.0
Interest rate contracts \| Other accrued liabilities \| Fair Value, Measurements, Recurring [Member]
Assets [Abstract]
Interest rate contracts, Fair Value		0.0
Foreign exchange contracts \| Other current assets / Other long-term assets \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign Currency Fair Value Hedge Derivative at Fair Value, Net	6.2	1.4
Foreign exchange contracts \| Other accrued liabilities \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign Currency Fair Value Hedge Derivative at Fair Value, Net	1.6	8.2
Cross currency contracts \| Assets [Member] \| Fair Value, Measurements, Recurring [Member]
Liabilities [Abstract]
Cross currency contracts	2.8	0.0
Cross currency contracts \| Liability [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign Currency Fair Value Hedge Derivative at Fair Value, Net		18.8
Liabilities [Abstract]
Cross currency contracts	$ 17.2	$ 18.8

Employee Benefit And Retirement Plans - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Aug. 31, 2021	Aug. 31, 2020	Aug. 31, 2021	Aug. 31, 2020	Nov. 30, 2020
Defined Benefit Plan Disclosure [Line Items]
Other income, net	$ 3.5	$ 3.9	$ 12.0	$ 12.5
Payment for Pension Benefits			7.5	9.3	$ 11.9
Pension and other postretirement costs	290.3		290.3		$ 296.3
Accounting Standards Update 2017-07 [Member]
Defined Benefit Plan Disclosure [Line Items]
Other income, net	$ (1.5)	$ (1.9)	$ (4.7)	$ (7.1)

Employee Benefit And Retirement Plans - Components of Pension Expense of Defined benefit plans (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Aug. 31, 2021	Aug. 31, 2020	Aug. 31, 2021	Aug. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Other income, net	$ 3.5	$ 3.9	$ 12.0	$ 12.5
Domestic Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	0.9	0.8	2.8	2.4
Interest costs	6.5	7.3	19.5	22.0
Expected return on plan assets	(10.3)	(10.2)	(30.9)	(30.5)
Amortization of prior service costs	0.2	0.2	0.4	0.4
Defined Benefit Plan, Amortization of Gain (Loss)	(2.7)	(2.0)	(8.2)	(5.9)
Total pension expense	0.0	0.1	0.0	0.2
Foreign Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	0.3	0.2	0.8	0.7
Interest costs	1.8	1.9	5.3	5.6
Expected return on plan assets	(3.5)	(3.7)	(10.5)	(11.2)
Amortization of prior service costs	0.0	0.1	0.1	0.1
Defined Benefit Plan, Amortization of Gain (Loss)	(0.6)	(0.5)	(1.7)	(1.5)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement	0.2	0.7	0.6	1.2
Total pension expense	(0.6)	(0.3)	(2.0)	(2.1)
Accounting Standards Update 2017-07 [Member]
Defined Benefit Plan Disclosure [Line Items]
Other income, net	$ (1.5)	$ (1.9)	$ (4.7)	$ (7.1)

Employee Benefit and Retirement Plans - Components of Other Postretirement Benefit Expenses (Details) - Other Postretirement Benefit Plan - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Aug. 31, 2021	Aug. 31, 2020	Aug. 31, 2021	Aug. 31, 2020
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	$ 0.5	$ 0.5	$ 1.5	$ 1.4
Interest costs	0.4	0.5	1.2	1.5
Amortization of prior service costs	(0.1)	(1.2)	(0.3)	(3.5)
Defined Benefit Plan, Amortization of Gain (Loss)	0.0	0.0	0.0	0.1
Total other postretirement expense	$ 0.8	$ (0.2)	$ 2.4	$ (0.7)

Stock-Based Compensation - Additional Information (Detail) $ / shares in Units, $ in Millions	9 Months Ended
	Aug. 31, 2021 USD ($) award_type $ / shares	Aug. 31, 2020 USD ($) $ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of stock-based compensation award types \| award_type	4
Intrinsic value for all options outstanding	$ 138.9
Intrinsic value for exercisable options	130.1
Total Intrinsic Value of all options exercised	$ 7.3	$ 65.3
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Weighted Average Grant Date Fair Value \| $ / shares	$ 18.36	$ 13.26

Stock-Based Compensation - Selling, General and Administrative Expense (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Aug. 31, 2021	Aug. 31, 2020	Aug. 31, 2021	Aug. 31, 2020
Share-based Payment Arrangement [Abstract]
Total stock-based compensation expense	$ 11.6	$ 10.7	$ 54.2	$ 37.8

Stock-Based Compensation - Range of Assumptions for Various Stock Compensation Plans (Details)	9 Months Ended
	Aug. 31, 2021	Aug. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Minimum	0.00%	0.00%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Maximum	1.80%	0.60%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate	1.50%	1.80%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate	21.30%	22.80%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term	7 years 10 months 24 days	7 years 10 months 24 days

Stock-Based Compensation - Summary of Stock Option Activity (Details) - Stock Options - $ / shares shares in Millions	9 Months Ended
	Aug. 31, 2021	Aug. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding at beginning of period, Number of Shares	4.5	5.2
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures	0.8	0.8
Exercised, Number of Shares	0.2	1.4
Outstanding at end of period, Number of Shares	5.1	4.6
Excercisable at end of the period, Number of Shares	3.7	3.2
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward]
Outstanding at beginning of period, Weighted-Average Exercise Price	$ 53.56	$ 48.09
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price	89.16	69.31
Exercised, Weighted-Average Exercise Price	48.60	40.94
Outstanding at end of period, Weighted-Average Exercise Price	59.44	53.44
Exercisable at end of the period, Weighted-Average Exercise Price	$ 51.19	$ 47.67

Stock-Based Compensation - Summary of Restricted Stock Unit Activity (Details) - Restricted Stock Units (RSUs) - $ / shares shares in Thousands	9 Months Ended
	Aug. 31, 2021	Aug. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Outstanding at beginning of period, Number of Shares	714	762
Granted, Number of Shares	219	296
Vested, Number of Shares	(284)	(274)
Forfeited, Number of Shares	(28)	(14)
Outstanding at end of period, Number of Shares	621	770
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Outstanding at beginning of period, Weighted-Average Grant-Date Fair Value	$ 61.74	$ 57.95
Granted, Weighted-Average Grant-Date Fair Value	86.86	67.03
Vested, Weighted-Average Grant-Date Fair Value	62.31	54.99
Forfeited, Weighted-Average Grant-Date Fair Value	75.02	62.15
Outstanding at end of period, Weighted-Average Grant-Date Fair Value	$ 69.75	$ 62.41

Stock-Based Compensation (Details) - Price Vested Stock Options shares in Thousands	9 Months Ended
	Aug. 31, 2021 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Outstanding at beginning of period, Number of Shares \| shares	2,482
Granted, Number of Shares \| shares	15
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period \| shares	(245)
Outstanding at end of period, Number of Shares \| shares	2,252
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Outstanding at beginning of period, Weighted-Average Grant-Date Fair Value \| $ / shares	$ 9.40
Granted, Weighted-Average Grant-Date Fair Value \| $ / shares	9.66
Forfeited, Weighted-Average Grant-Date Fair Value \| $ / shares	9.42
Outstanding at end of period, Weighted-Average Grant-Date Fair Value \| $ / shares	$ 9.40

Stock-Based Compensation - Summary of LTPP awards (Details) - Performance Shares - $ / shares shares in Thousands	9 Months Ended
	Aug. 31, 2021	Aug. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Outstanding at beginning of period, Number of Shares	382	392
Granted, Number of Shares	141	130
Vested, Number of Shares	(124)	(88)
Forfeited, Number of Shares	(23)	(6)
Outstanding at end of period, Number of Shares	376	428
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Outstanding at beginning of period, Weighted-Average Grant-Date Fair Value	$ 71.20	$ 57.98
Granted, Weighted-Average Grant-Date Fair Value	98.30	86.14
Vested, Weighted-Average Grant-Date Fair Value	51.73	44.98
Forfeited, Weighted-Average Grant-Date Fair Value	89.44	63.73
Outstanding at end of period, Weighted-Average Grant-Date Fair Value	$ 86.73	$ 69.13

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Aug. 31, 2021	Aug. 31, 2020	Aug. 31, 2021	Aug. 31, 2020
Income Tax Disclosure [Abstract]
Effective income tax rate reconciliation, tax credit, amount	$ (22.9)	$ (13.2)	$ (22.9)	$ (40.1)
Shares issued, tax benefit		7.3	2.2	13.0
Effective income tax rate reconciliation, change in deferred tax assets valuation allowance, amount			4.5	9.3
Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations	4.3	2.1	9.2	5.5
Effective Income Tax Rate Reconciliation, Disposition of Asset, Amount				$ 9.9
Unrecognized Tax Benefits, Decrease Resulting from Acquisition			10.4
Unrecognized Tax Benefits, Increase Resulting from Prior Period Tax Positions	2.0		2.0
Unrecognized Tax Benefits, Increase Resulting from Acquisition	1.0
Unrecognized Tax Benefits, Decrease Resulting from Prior Period Tax Positions	1.1		1.1
Unrecognized Tax Benefits, Period Increase (Decrease)	13.3		13.3
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability	$ 2.4	$ 1.1	$ 2.5

Earnings Per Share and Stock Issuances - Additional Information (Details) $ / shares in Units, shares in Millions, $ in Millions	Aug. 31, 2021 USD ($) $ / shares shares
Class of Stock [Line Items]
Common Stock, Par or Stated Value Per Share \| $ / shares	$ 0.01
Minimum [Member]
Class of Stock [Line Items]
Common Stock, Shares Authorized \| shares	320.0
Maximum [Member]
Class of Stock [Line Items]
Common Stock, Shares Authorized \| shares	640.0
November 2019 [Member]
Class of Stock [Line Items]
Stock repurchase program, remaining authorized repurchase amount \| $	$ 581.4
Stock repurchase program, authorized amount \| $	$ 600.0

Earnings Per Share and Stock Issuances - Reconciliation of Average Shares Outstanding (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Aug. 31, 2021	Aug. 31, 2020	Aug. 31, 2021	Aug. 31, 2020
Earnings Per Share, Basic and Diluted [Abstract]
Average shares outstanding - basic (shares)	267.4	266.7	267.2	266.3
Effect of dilutive securities: [Abstract]
Stock options/Restricted Stock Units (RSUs)/MTIP	2.6	2.9	2.8	2.7
Average shares outstanding-diluted	270.0	269.6	270.0	269.0

Earnings Per Share and Stock Issuances - Antidilutive Securities not Considered in Earnings Per Share Calculation (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Aug. 31, 2021	Aug. 31, 2020	Aug. 31, 2021	Aug. 31, 2020
Earnings Per Share, Basic and Diluted [Abstract]
Anti-dilutive securities	0.8	0.0	0.6	0.2

Earnings Per Share and Stock Issuances - Common Stock Activity (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Aug. 31, 2021	Aug. 31, 2020	Aug. 31, 2021	Aug. 31, 2020
Stock Options And Restricted Stock Units
Employee Stock Purchase Plan [Line Items]
Shares issued under stock options, RSUs, LTPP and employee stock purchase plans	0.1	0.7	0.6	1.7
Share Repurchase Program
Employee Stock Purchase Plan [Line Items]
Shares repurchased under the stock repurchase program and shares withheld for taxes under stock options, RSUs, LTPP and employee stock purchase plans	0.1	0.4	0.2	0.7

Accumulated Other Comprehensive Income (Loss) - Components of Accumulated Other Comprehensive Income, Net of Tax (Details) - USD ($)

3 Months Ended

9 Months Ended

Aug. 31, 2021

Aug. 31, 2020

Aug. 31, 2021

Aug. 31, 2020

Nov. 30, 2020

Other Comprehensive Income (Loss), Net of Tax [Abstract]

Foreign currency translation adjustment (1)

$ (147,000,000.0)

$ (174,000,000.0)

Unrealized gain (loss) on foreign currency exchange contracts

1,900,000

(400,000)

Unamortized value of settled interest rate swaps

(200,000)

(100,000)

Pension and other postretirement costs

(290,300,000)

(296,300,000)

Accumulated other comprehensive loss

(435,600,000)

(470,800,000)

Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]

Reclassification adjustment from AOCI on derivatives, before tax

100,000

$ (1,300,000)

200,000

$ (1,600,000)

Reclassification adjustment from AOCI on derivatives, tax

300,000

400,000

Reclassification adjustment from AOCI on derivatives, net of tax

100,000

(1,000,000.0)

200,000

(1,200,000)

Amortization adjustment from AOCI, pension and other postretirement benefit plans, for net prior service cost (credit), before tax

^[1]

100,000

(900,000)

200,000

(3,000,000.0)

Reclassification adjustment from AOCI, pension and other postretirement benefit plans, for net gain (loss), before tax

^[1]

3,500,000

3,200,000

10,500,000

8,500,000

Reclassification adjustment from AOCI, pension and other postretirement benefit plans, before tax

3,600,000

2,300,000

10,700,000

5,500,000

Reclassification adjustment from AOCI, pension and other postretirement benefit plans, for net (gain) loss, tax

(800,000)

(600,000)

(2,500,000)

(1,300,000)

Reclassification adjustment from AOCI, pension and other postretirement benefit plans, for net (gain) loss, net of tax

2,800,000

1,700,000

8,200,000

4,200,000

Other Comprehensive Income, Other, Net of Tax

27,000,000

Foreign currency translation adjustment (1)

(147,000,000.0)

$ (174,000,000.0)

Interest rate contracts | Cash Flow Hedging | Interest Expense

Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]

Reclassification adjustment from AOCI on derivatives, before tax

(200,000)

(400,000)

Foreign exchange contracts | Cash Flow Hedging | Cost of Sales

Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]

Reclassification adjustment from AOCI on derivatives, before tax

300,000

$ (1,100,000)

600,000

$ (1,200,000)

Cross currency contracts

Other Comprehensive Income (Loss), Net of Tax [Abstract]

Foreign currency translation adjustment (1)

4,900,000

Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]

Foreign currency translation adjustment (1)

$ 4,900,000

[1]	This Accumulated other comprehensive income (loss) component is included in the computation of total pension expense and other postretirement benefits expense (refer to note 7 for additional details). Amortization of net actuarial losses includes settlement losses.

Business Segments - Additional Information (Detail) $ in Millions	3 Months Ended		9 Months Ended
	Aug. 31, 2021 USD ($)	Aug. 31, 2020 USD ($)	Aug. 31, 2021 USD ($) segment	Aug. 31, 2020 USD ($)
Revenues	$ 1,549.4	$ 1,430.3	$ 4,587.6	$ 4,043.4
Number of operating segments \| segment			2
Europe Middle East And Africa [Member]
Revenues	283.4	262.7	$ 890.7	756.7
Asia Pacific [Member]
Revenues	181.5	157.1	566.2	431.2
Americas [Member]
Revenues	$ 1,084.5	$ 1,010.5	$ 3,130.7	$ 2,855.5

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Business Segments (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Business Segments (Detail) - USD ($) $ in Millions	Aug. 31, 2021	Aug. 31, 2020	Aug. 31, 2021	Aug. 31, 2020
Segment Reporting Information [Line Items]
Revenues	$ 1,549.4	$ 1,430.3	$ 4,587.6	$ 4,043.4
Operating income	265.2	273.0	738.9	724.6
Less: Special charges	5.8	0.1	20.6	4.0
Operating income excluding special charges	272.3	273.1	792.8	728.6
Income from unconsolidated operations (including, for the nine months ended August 31, 2021, after-tax gain on sale of unconsolidated operation of $13.4)	9.1	9.6	45.8	30.2
Transaction and integration expenses	1.3	0.0	27.0	0.0
Cost of Sales
Segment Reporting Information [Line Items]
Transaction and integration expenses	0.0		6.3
Consumer
Segment Reporting Information [Line Items]
Revenues	921.9	910.9	2,813.9	2,573.0
Operating income	184.1	209.0	529.9	557.1
Less: Special charges	3.5	0.0	13.1	3.1
Operating income excluding special charges	187.8	209.0	554.5	560.2
Income from unconsolidated operations (including, for the nine months ended August 31, 2021, after-tax gain on sale of unconsolidated operation of $13.4)	6.7	8.5	39.7	24.7
Transaction and integration expenses	0.2		7.5
Consumer \| Cost of Sales
Segment Reporting Information [Line Items]
Transaction and integration expenses			4.0
Flavor Solutions
Segment Reporting Information [Line Items]
Revenues	627.5	519.4	1,773.7	1,470.4
Operating income	81.1	64.0	209.0	167.5
Less: Special charges	2.3	0.1	7.5	0.9
Operating income excluding special charges	84.5	64.1	238.3	168.4
Income from unconsolidated operations (including, for the nine months ended August 31, 2021, after-tax gain on sale of unconsolidated operation of $13.4)	2.4	1.1	6.1	5.5
Transaction and integration expenses	1.1		19.5
Flavor Solutions \| Cost of Sales
Segment Reporting Information [Line Items]
Transaction and integration expenses			2.3
Americas [Member]
Segment Reporting Information [Line Items]
Revenues	1,084.5	1,010.5	3,130.7	2,855.5
Europe Middle East And Africa [Member]
Segment Reporting Information [Line Items]
Revenues	283.4	262.7	890.7	756.7
Asia Pacific [Member]
Segment Reporting Information [Line Items]
Revenues	$ 181.5	$ 157.1	$ 566.2	$ 431.2