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10-K true 2025-11-30 --11-30 false 001-14920 McCORMICK & COMPANY, INCORPORATED MD 52-0408290 24 Schilling Road, Suite 1, Hunt Valley, MD 21031 410 771-7301 Common Stock, Par Value $0.01 per share MKC.V NYSE Common Stock Non-Voting, Par Value $0.01 per share MKC NYSE Yes No Yes Yes Large Accelerated Filer false false true false false 1099419345 18403576766 14851729 253586510 <div style="text-align:center">DOCUMENTS INCORPORATED BY REFERENCE<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:44.434%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:53.366%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Document</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Part of 10-K into Which Incorporated</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Proxy Statement for McCormick’s March 25, 2026 Annual Meeting of Stockholders (the “2026 Proxy Statement”)</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Part III</td></tr></table></div> <div style="margin-top:9pt">Risk Management and Strategy</div><div style="margin-top:9pt;text-align:justify">Cybersecurity risk management is overseen both as a critical component of our overall Enterprise Risk Management program and as a standalone program. We have implemented a risk-based, multilayered approach to assessing, identifying, and managing cybersecurity threats and incidents, while also implementing controls and procedures that provide for the prompt escalation of certain cybersecurity incidents.</div><div style="margin-top:9pt;text-align:justify">The team devotes significant resources to our cybersecurity risk management, which focuses on developing and implementing strategies and processes to protect the confidentiality, integrity, and availability of our assets and those of our consumers, customers and employees and seeks to continually improve our policies and practices to protect our platforms, adapt to changes in regulations, identify potential and emerging security risks such as those due to the increased availability of artificial intelligence and develop mitigation strategies for those risks. As part of this effort, the team periodically benchmarks our practices against the NIST Cyber Security and Privacy Frameworks, and other good practice control methods, which include updating technology, developing data privacy and security policies and procedures, implementing and assessing the effectiveness of controls, monitoring and routine testing of our information systems, conducting risk assessments of third-party service providers, providing data privacy and cybersecurity awareness training to employees and designing business processes to protect private data and mitigate the risk of cybersecurity incidents. We periodically conduct tests on our systems to help discover potential vulnerabilities, which enable improved decision-making and prioritization and promote monitoring and reporting across compliance functions. We believe that these actions provide adequate measures of protection against security breaches and generally reduce our cybersecurity risks, and we have not had a material cybersecurity threat or attack to date.</div><div style="margin-top:9pt;text-align:justify">Our processes also address cybersecurity risks associated with our use of third-party service providers including suppliers, and software and cloud-based service providers. We proactively evaluate the cybersecurity risk of our third-party service providers by utilizing a repository of risk assessments, external monitoring sources, threat intelligence and predictive analytics to better inform ourselves during contracting and vendor selection processes. Third-party service providers security issues are documented, tracked, and monitored in order to mitigate risk.</div><div style="margin-top:9pt;text-align:justify">Our employees, including part-time and temporary employees, undertake an annual cybersecurity training program, which is augmented by additional training and communications on information security and data privacy matters throughout the year. </div><div style="margin-top:9pt;text-align:justify">We have adopted an incident response plan that applies in the event of a cybersecurity threat or incident to provide a standardized framework for responding to such cybersecurity threats or incidents. The plan sets out a coordinated approach to investigating, containing, documenting, and mitigating incidents, including reporting findings and keeping our Management Committee, the Audit Committee, the Board, and other key stakeholders informed and involved as appropriate. The plan is aligned to NIST guidance. It also includes the involvement of any personnel who may detect incidents, respond to incidents, resolve incidents, and manage communications and responsibilities with authorities about those incidents. The plan applies to all personnel (including third-party contractors, vendors, and partners) that perform functions or services requiring access to secure Company information, and to all devices and network services that are owned or managed by us.</div><div style="margin-top:9pt;text-align:justify">Further, we currently maintain a cybersecurity insurance that provides coverage for certain types of incidents; however, such insurance may not be sufficient in type or amount to cover claims related to all cyber threats or risks.</div><div style="margin-top:9pt;text-align:justify">While we have not experienced any material cybersecurity threats or incidents that have materially affected or are reasonably likely to materially affect us, including our business strategy, results of operations or financial condition, as of the date of this Annual Report on Form 10-K, there can be no guarantee that we will not be the subject of future threats or incidents. Additional information on cybersecurity risks we face can be found in Item 1A, Risk Factors, which should be read in conjunction with the foregoing information.</div> <div style="margin-top:9pt;text-align:justify">The team devotes significant resources to our cybersecurity risk management, which focuses on developing and implementing strategies and processes to protect the confidentiality, integrity, and availability of our assets and those of our consumers, customers and employees and seeks to continually improve our policies and practices to protect our platforms, adapt to changes in regulations, identify potential and emerging security risks such as those due to the increased availability of artificial intelligence and develop mitigation strategies for those risks. As part of this effort, the team periodically benchmarks our practices against the NIST Cyber Security and Privacy Frameworks, and other good practice control methods, which include updating technology, developing data privacy and security policies and procedures, implementing and assessing the effectiveness of controls, monitoring and routine testing of our information systems, conducting risk assessments of third-party service providers, providing data privacy and cybersecurity awareness training to employees and designing business processes to protect private data and mitigate the risk of cybersecurity incidents. We periodically conduct tests on our systems to help discover potential vulnerabilities, which enable improved decision-making and prioritization and promote monitoring and reporting across compliance functions. We believe that these actions provide adequate measures of protection against security breaches and generally reduce our cybersecurity risks, and we have not had a material cybersecurity threat or attack to date.</div><div style="margin-top:9pt;text-align:justify">Our processes also address cybersecurity risks associated with our use of third-party service providers including suppliers, and software and cloud-based service providers. We proactively evaluate the cybersecurity risk of our third-party service providers by utilizing a repository of risk assessments, external monitoring sources, threat intelligence and predictive analytics to better inform ourselves during contracting and vendor selection processes. Third-party service providers security issues are documented, tracked, and monitored in order to mitigate risk.</div> true true true false <div style="margin-top:9pt">Governance and Oversight</div><div style="margin-top:9pt;text-align:justify">Our Board and the Audit Committee are actively engaged in the oversight of our cybersecurity and data privacy program. The Board, at least annually, and the Audit Committee, periodically throughout the year, receive regular reports from our Chief Information Security Officer (“CISO”) and members of the information security team on, among other things, recent developments, the state of the information security program, assessments of risks and threats to our information security systems, information security considerations arising with respect to our peers and </div><div style="margin-top:9pt;text-align:justify">third parties, third-party and independent reviews, and processes to maintain and strengthen information security systems. Under the oversight of the Audit Committee, we engage third-party experts to assess the state of our cybersecurity and data privacy program. The Audit Committee also provides regular updates to the Board, and the Board would be notified between such updates regarding significant new cybersecurity threats or incidents.</div><div style="margin-top:9pt;text-align:justify">We have protocols by which certain cybersecurity incidents that meet established reporting thresholds are escalated internally and, where appropriate, reported to the Management Committee, the Audit Committee or the Board in a timely manner.</div><div style="margin-top:9pt;text-align:justify">We have an Executive Cybersecurity Steering Committee that is facilitated by our CISO, which is designed to engage business leadership and employ best practices, including ongoing enhancements to governance, risk and compliance. We have adopted governance policies and procedures related to artificial intelligence development, deployment and monitoring. Our internal audit function also performs independent testing on aspects of the operations of our cybersecurity program and the supporting controls based upon its risk-based internal audit plan and reports the results of these audits in its periodic reports to the Audit Committee. Our CISO currently reports to our Chief Information and Digital Officer and is responsible for training and leading a dedicated information security team tasked with protecting data and preventing, identifying, and appropriately addressing cybersecurity threats. The CISO is a Certified Information Systems Security Professional with over 20 years of experience developing and maturing information security programs, including experience with leading privacy, enterprise risk, records management, business continuity and operational risk programs, among others.</div> <div style="margin-top:9pt;text-align:justify">Our Board and the Audit Committee are actively engaged in the oversight of our cybersecurity and data privacy program. The Board, at least annually, and the Audit Committee, periodically throughout the year, receive regular reports from our Chief Information Security Officer (“CISO”) and members of the information security team on, among other things, recent developments, the state of the information security program, assessments of risks and threats to our information security systems, information security considerations arising with respect to our peers and </div>third parties, third-party and independent reviews, and processes to maintain and strengthen information security systems. Under the oversight of the Audit Committee, we engage third-party experts to assess the state of our cybersecurity and data privacy program. The Audit Committee also provides regular updates to the Board, and the Board would be notified between such updates regarding significant new cybersecurity threats or incidents <div style="margin-top:9pt;text-align:justify">We have protocols by which certain cybersecurity incidents that meet established reporting thresholds are escalated internally and, where appropriate, reported to the Management Committee, the Audit Committee or the Board in a timely manner.</div> <div style="margin-top:9pt;text-align:justify">We have protocols by which certain cybersecurity incidents that meet established reporting thresholds are escalated internally and, where appropriate, reported to the Management Committee, the Audit Committee or the Board in a timely manner.</div> <div style="margin-top:9pt;text-align:justify">We have an Executive Cybersecurity Steering Committee that is facilitated by our CISO, which is designed to engage business leadership and employ best practices, including ongoing enhancements to governance, risk and compliance. We have adopted governance policies and procedures related to artificial intelligence development, deployment and monitoring. Our internal audit function also performs independent testing on aspects of the operations of our cybersecurity program and the supporting controls based upon its risk-based internal audit plan and reports the results of these audits in its periodic reports to the Audit Committee. Our CISO currently reports to our Chief Information and Digital Officer and is responsible for training and leading a dedicated information security team tasked with protecting data and preventing, identifying, and appropriately addressing cybersecurity threats. The CISO is a Certified Information Systems Security Professional with over 20 years of experience developing and maturing information security programs, including experience with leading privacy, enterprise risk, records management, business continuity and operational risk programs, among others.</div> <div style="margin-top:9pt;text-align:justify">We have an Executive Cybersecurity Steering Committee that is facilitated by our CISO, which is designed to engage business leadership and employ best practices, including ongoing enhancements to governance, risk and compliance. We have adopted governance policies and procedures related to artificial intelligence development, deployment and monitoring. Our internal audit function also performs independent testing on aspects of the operations of our cybersecurity program and the supporting controls based upon its risk-based internal audit plan and reports the results of these audits in its periodic reports to the Audit Committee. Our CISO currently reports to our Chief Information and Digital Officer and is responsible for training and leading a dedicated information security team tasked with protecting data and preventing, identifying, and appropriately addressing cybersecurity threats. The CISO is a Certified Information Systems Security Professional with over 20 years of experience developing and maturing information security programs, including experience with leading privacy, enterprise risk, records management, business continuity and operational risk programs, among others.</div> true true The CISO is a Certified Information Systems Security Professional with over 20 years of experience developing and maturing information security programs, including experience with leading privacy, enterprise risk, records management, business continuity and operational risk programs, among others.

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES<div style="margin-top:5pt">Basis of Presentation</div><div>The financial statements include the accounts of our majority-owned or controlled subsidiaries and affiliates. Intercompany transactions have been eliminated. Investments in unconsolidated affiliates, over which we exercise significant influence, but not control, are accounted for by the equity method. Accordingly, our share of net income or loss from unconsolidated affiliates is included in net income. Certain prior period amounts have been reclassified to conform with the current period presentation. </div><div style="margin-top:9pt">Foreign Currency Translation </div><div style="margin-bottom:9pt">For majority-owned or controlled subsidiaries and affiliates located outside of the U.S. that use functional currencies other than the U.S. dollar, asset and liability accounts are translated at the exchange rates in effect at the balance sheet date. The resulting translation adjustments are included in accumulated other comprehensive income (loss), which is a separate component of shareholders’ equity. Income and expense items are translated at average monthly exchange rates. Gains and losses from foreign currency transactions of these majority-owned or controlled subsidiaries and affiliates—specifically, transactions denominated in currencies other than their functional currency—are included in net income, except for intercompany transactions designated as long-term investments.</div><div style="margin-bottom:9pt">Our unconsolidated affiliates located outside the U.S. generally use their local currencies as their functional currencies. The asset and liability accounts of those unconsolidated affiliates are translated at the rates of exchange at the balance sheet date, with the resultant translation adjustments included in accumulated other comprehensive income (loss) of those affiliates. Income and expense items of those affiliates are translated at average monthly rates of exchange. We record our ownership share of the net assets and accumulated other comprehensive income (loss) of our unconsolidated affiliates in our consolidated balance sheet on the lines entitled “Other long-term assets” and “Accumulated other comprehensive loss,” respectively. We record our ownership share of the net income of our unconsolidated affiliates, or a gain or loss associated with the sale of our ownership interest in our unconsolidated affiliates, in our consolidated income statement on the line entitled “Income from unconsolidated operations.”</div><div style="margin-top:9pt">Use of Estimates</div><div>Preparation of financial statements that follow accounting principles generally accepted in the U.S. requires us to make estimates and assumptions that affect the amounts reported in the financial statements and notes. Actual amounts could differ from these estimates.</div><div style="margin-top:9pt">Cash and Cash Equivalents</div><div>All highly liquid investments purchased with an original maturity of three months or less are classified as cash equivalents.</div><div style="margin-top:9pt">Inventories</div><div>Inventories are stated at the lower of cost or net realizable value. Cost is determined under the first-in, first-out costing method (FIFO), including the use of average costs which approximate FIFO.</div><div style="margin-top:9pt">Property, Plant and Equipment</div><div>Property, plant and equipment is stated at historical cost and depreciated over its estimated useful life using the straight-line method for financial reporting and both accelerated and straight-line methods for tax reporting. The estimated useful lives range from 20 to 50 years for buildings and 3 to 15 years for machinery, equipment and other assets. Assets leased under finance leases are depreciated over the shorter of the lease term or their estimated useful lives unless it is reasonably certain that we will obtain ownership by the end of the lease term. Repairs and maintenance costs are expensed as incurred.</div><div style="margin-top:9pt">Computer Software</div><div>We capitalize costs of software developed or obtained for internal use. Capitalized software development costs include only (1) direct costs paid to others for materials and services to develop or buy the software, (2) payroll and payroll-related costs for employees who work directly on the software development project, and (3) interest costs while developing the software. Capitalization of these costs stops, and amortization begins, when the project is substantially complete and ready for use. </div><div style="margin-top:9pt">Capitalized software is classified within "Other long-term assets" in the consolidated balance sheet. Software is amortized using the straight-line method over estimated useful lives ranging from 3 to 13 years, but not exceeding the expected life of the product. </div><div style="margin-top:9pt">Goodwill and Other Intangible Assets</div><div>We review the carrying value of goodwill and indefinite-lived intangible assets and conduct tests of impairment on an annual basis as described below. We also test goodwill for impairment if events or circumstances indicate it is more likely than not that the fair value of a reporting unit is below its carrying amount and test indefinite-lived intangible assets for impairment if events or changes in circumstances indicate that the asset might be impaired. Separable intangible assets that have finite useful lives are amortized over those lives.</div><div style="margin-top:9pt">Determining the fair value of a reporting unit or an indefinite-lived purchased intangible asset is judgmental in nature and involves the use of significant estimates and assumptions. These estimates and assumptions include revenue growth rates and operating margins used to calculate projected future cash flows, risk-adjusted discount rates, assumed royalty rates, future economic and market conditions and determination of appropriate market comparables. We base our fair value estimates on assumptions we believe to be reasonable but that are unpredictable and inherently uncertain. Actual future results may differ from these estimates.</div><div style="margin-top:9pt">Goodwill Impairment</div><div>Our reporting units used to assess potential goodwill impairment are the same as our business segments. We estimate the fair value of a reporting unit by using a discounted cash flow model and then compare that to the carrying amount of the reporting unit, including intangible assets and goodwill. An impairment charge would be recognized to the extent that the carrying amount of the reporting unit exceeds the estimated fair value of the reporting unit. </div><div style="margin-top:9pt">Indefinite-lived Intangible Asset Impairment</div><div>Our indefinite-lived intangible assets consist of acquired brand names and trademarks. We estimate fair value by using a relief-from-royalty method and then compare that to the carrying amount of the indefinite-lived intangible asset. If the carrying amount of the indefinite-lived intangible asset exceeds its estimated fair value, an impairment charge would be recorded to the extent the recorded indefinite-lived intangible asset exceeds the fair value.</div><div style="margin-top:9pt">Long-lived Asset Impairment</div><div>Fixed assets and amortizable intangible assets are reviewed for impairment as events or changes in circumstances occur indicating that the carrying value of the asset may not be recoverable. Undiscounted cash flow analyses are used to determine if an impairment exists. If an impairment is determined to exist, the loss would be calculated based on the excess of the asset’s carrying value over its estimated fair value.</div><div> </div><div>Accounts Payable - Supplier Finance Program</div><div>In order to manage our cash flow and related liquidity, we work with our suppliers to optimize our terms and conditions, which include the extension of payment terms. We offer certain suppliers access to a third-party Supply Chain Finance program (SCF) with several global financial institutions (SCF Banks). The terms of our payment obligation are not impacted by a supplier’s participation in the SCF. Under the SCF, qualifying suppliers may elect to sell their receivables from us to a SCF Bank. These participating suppliers negotiate their receivables sales arrangements directly with the respective SCF Bank. While we are not party to those agreements, the SCF Banks allow the participating suppliers to utilize our creditworthiness in establishing credit spreads and associated costs. This generally provides the suppliers with more favorable terms than they would be able to secure on their own. We have no economic interest in a supplier’s decision to sell a receivable. Once a qualifying supplier elects to participate in the SCF and reaches an agreement with a SCF Bank, the supplier elects which of our individual invoices they sell to the SCF bank. Regardless of whether an individual invoice is sold by the supplier to the SCF Bank, all of our payments to participating suppliers are paid to the SCF Bank on the invoice due date. The SCF Bank pays the supplier on the invoice due date for any invoices that were not previously sold by the supplier to the SCF Bank. </div><div style="margin-top:9pt">Our current payment terms with our suppliers, which we deem to be commercially reasonable, generally range from zero to 180 days dependent upon their respective industry and geography. All outstanding amounts related to suppliers participating in the SCF are recorded within the line entitled "Trade accounts payable" in our consolidated balance sheets, and the associated payments are included in operating activities within our consolidated cash flow statement. </div><div style="margin-top:9pt">The following table presents a roll forward of our obligations relating to suppliers participating in the SCF program for the year ended November 30, 2025:</div><div style="margin-top:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:97.953%"><tr><td style="width:1.0%"></td><td style="width:72.183%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:25.617%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">(millions)</td><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Obligation at beginning of year</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">417.4 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Invoice amounts added </td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,124.8 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Invoice amounts paid </td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(1,209.7)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Foreign currency translation and other adjustments</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(0.4)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Obligation at end of year</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">332.1 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:9pt">Leases </div><div>We determine whether a contract is or contains a lease at contract inception based on the presence of identified assets and our right to obtain substantially all the economic benefit from or to direct the use of such assets. When we determine a lease exists, we record a right-of-use (“ROU”) asset and corresponding lease liability on our consolidated balance sheet. ROU assets represent our right to use an underlying asset for the lease term. Lease liabilities represent our obligation to make lease payments arising from the lease. ROU assets are recognized at the lease commencement date at the value of the lease liability and are adjusted for any prepayments, lease incentives received, and initial direct costs incurred. Lease liabilities are recognized at the lease commencement date based on the present value of remaining lease payments over the lease term. As the discount rate implicit in the lease is not readily determinable in most of our leases, we use our incremental borrowing rate based on the information available at the lease commencement date in determining the present value of lease payments. Our lease terms include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. We do not record lease contracts with a term of 12 months or less on our consolidated balance sheets.</div><div style="margin-top:9pt;text-align:justify">When our real estate lease arrangements include lease and non-lease components (for example, common area maintenance), we account for each component separately, based on their relative standalone prices. For all other asset categories, we combine lease components and non-lease components into a single lease commitment.</div><div style="margin-top:9pt;text-align:justify">We recognize fixed lease expense for operating leases on a straight-line basis over the lease term. For finance leases, we recognize amortization expense over the shorter of the estimated useful life of the underlying assets or the lease term. In instances of title transfer, expense is recognized over the useful life. Interest expense on a finance lease is recognized using the effective interest method over the lease term.</div><div style="margin-top:9pt">Revenue Recognition</div><div>We manufacture, market, and distribute spices, seasoning mixes, condiments and other flavorful products to the entire food industry—retailers, food manufacturers, and foodservice businesses. Our revenue arrangements generally include a single performance obligation relating to the fulfillment of a customer order, which in some cases is 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. Revenues are recorded net of trade and sales incentives and estimated product returns. Known or expected pricing or revenue adjustments, such as trade discounts, rebates and returns, are estimated at the time of sale. All taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction and collected by us from a customer for sales, value added and other excise taxes are excluded from net sales. We account for product shipping and handling activities that occur before the customer has obtained control of a good as fulfillment activities (i.e., an expense) rather than as a promised service with costs for these activities recorded within Cost of goods sold. We expense any incremental costs of obtaining a contract when the contract is for a period of one year or less. </div><div style="margin-top:9pt">Amounts billed and due from our customers are classified as accounts receivable on the balance sheet and require payment on a short-term basis. Our allowance for doubtful accounts represents our estimate of probable non-payments and credit losses in our existing receivables, as determined based on a review of past due balances and other specific account data.</div><div style="margin-top:9pt">The following table sets forth our net sales by the Americas, Europe, Middle East and Africa (EMEA), and Asia/Pacific (APAC) geographic regions: <table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:49.339%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.216%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.363%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.216%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.366%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">(millions)</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Americas</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">EMEA</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">APAC</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Total</td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">2025</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">4,867.8 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">1,268.5 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">704.0 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">6,840.3 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">2024</td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">4,801.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">1,239.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">682.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">6,723.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">2023</td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">4,756.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">1,212.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">692.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">6,662.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:9pt">Performance Obligations</div><div>Our revenues primarily result from contracts or purchase orders with customers, which generally are both short-term in nature and have a single performance obligation—the delivery of our products to customers. We assess the goods and services promised in our customers’ contracts or purchase orders and identify a performance obligation for each promise to transfer a good or service (or bundle of goods or services) that is distinct. To identify the performance obligations, we consider all the goods or services promised, whether explicitly stated or implied based on customary business practices.</div><div style="margin-top:9pt;text-align:justify">Significant Judgments</div><div>Sales are recorded net of trade and sales incentives and estimated product returns. Known or expected pricing or revenue adjustments, such as trade discounts, rebates or returns, are estimated at the time of sale. Where applicable, future reimbursements are estimated based on a combination of historical patterns and the Company's then-current expectations regarding what was earned through these programs as of the balance sheet date. Key sales terms, such as pricing and quantities ordered, are established on a frequent basis such that most customer arrangements and related incentives have a one-year or shorter duration. Estimates that affect revenue, such as trade incentives and product returns, are monitored and adjusted each period until the incentives or product returns are realized. The adjustments recognized during the years ended November 30, 2025, 2024, and 2023 resulting from updated estimates of revenue for prior year product sales were not significant. The unsettled portion remaining in accrued liabilities for these activities was $228.8 million and $206.4 million at November 30, 2025 and 2024, respectively.</div><div style="margin-top:9pt">Shipping and Handling </div><div>Shipping and handling costs on our products sold to customers related to activities that occur before the customer has obtained control of a good are included in cost of goods sold in the consolidated income statement.</div><div style="margin-top:9pt">Brand Marketing Support</div><div>Total brand marketing support costs, which are included in our consolidated income statement in the line entitled "Selling, general and administrative expense," were $276.7 million, $265.0 million, and $247.1 million for 2025, 2024, and 2023, respectively. Brand marketing support costs include advertising and promotions but exclude trade funds paid to customers for such activities. All trade funds paid to customers are reflected in the consolidated income statement as a reduction of net sales. Promotion costs include public relations, shopper marketing, social marketing activities, general consumer promotion activities and depreciation of assets used in these promotional activities. Advertising costs include the development, production and communication of advertisements through television, digital, print and radio. Development and production costs are expensed in the period in which the advertisement is first run. All other costs of advertising are expensed as incurred. Advertising expense was $225.1 million, $218.8 million, and $198.1 million for 2025, 2024, and 2023, respectively.</div><div style="margin-top:9pt">Research and Development</div><div>Research and development costs are expensed as incurred and are included in our consolidated income statement in the line entitled "Selling, general and administrative expense." Research and development expense was $106.1 million, $102.9 million, and $94.9 million for 2025, 2024, and 2023, respectively.</div><div style="margin-top:9pt">Income Taxes</div><div>Income taxes are recognized in accordance with the liability method of accounting. Deferred taxes are recognized for the estimated taxes ultimately payable or recoverable based on enacted tax law. Inherent in determining our annual tax rate are judgments regarding business plans, planning opportunities, and expectations about future outcomes. Realization of certain deferred tax assets, primarily net operating loss and other carryforwards, is dependent upon generating sufficient taxable income in the appropriate jurisdiction prior to the expiration of the carryforward periods. Changes in enacted tax rates are reflected in the tax provision as they occur. </div><div style="margin-top:9pt">We record valuation allowances to reduce deferred tax assets to the amount that is more likely than not to be realized. When assessing the need for valuation allowances, we consider future taxable income and ongoing </div><div style="margin-top:9pt">prudent and feasible tax planning strategies. Should a change in circumstances lead to a change in judgment about the realizability of deferred tax assets in future years, we would adjust related valuation allowances in the period that the change in circumstances occurs, along with a corresponding adjustment to our provision for income taxes. </div><div style="margin-top:9pt">We recognize a tax position in our financial statements when it is more likely than not that the position will be sustained upon examination based on the technical merits of the position. That position is then measured at the largest amount of benefit that is greater than 50 percent likely of being realized upon ultimate settlement. The resolution of tax reserves and changes in valuation allowances could be material to our results of operations for any period but is not expected to be material to our financial position.</div><div style="margin-top:9pt">We are subject to a U.S. tax requirement that certain income earned by foreign subsidiaries, referred to as Global Intangible Low-Taxed Income (GILTI), must be included in the gross income of the subsidiary’s U.S. shareholder. Accounting principles generally accepted in the U.S. provide for an accounting policy election of either recognizing deferred taxes for temporary differences expected to reverse as GILTI in future years or recognizing such taxes as a current period expense when incurred. We have elected to treat GILTI as a current period expense when incurred.</div><div style="margin-top:9pt">Stock-Based Compensation </div><div>We recognize stock-based compensation expense associated with options and restricted stock units (RSUs), which contain provisions that such awards fully vest upon an employee’s retirement, ratably over the shorter of the vesting period or the employees’ retirement eligibility date. Accordingly, we recognize stock-based compensation associated with options and RSUs subject to immediate retirement eligible vesting provisions on the date of grant.</div><div style="margin-top:9pt">Compensation expense associated with our long-term performance plan (LTPP) is recorded in the income statement over the three-year period of the program based on the number of shares ultimately expected to be awarded using our estimate of the most likely outcome of achieving the performance objectives. </div><div style="margin-top:9pt">We recognize stock-based compensation expense associated with price-vested stock options ratably over the vesting period as such options do not contain provisions that fully vest these awards upon an employee becoming retirement eligible.</div><div style="margin-top:9pt">We estimate forfeitures associated with all stock-based compensation at the time of grant based on historical experience and revise this estimate in subsequent periods if actual forfeitures differ.</div><div style="margin-top:9pt">Derivative Instruments</div><div>We record all derivatives on our balance sheet at fair value. The fair value of derivative instruments is recorded in our consolidated balance sheet on the lines entitled “Other current assets," "Other long-term assets," "Other accrued liabilities," or "Other long-term liabilities" depending on their fair value and maturity. Gains and losses representing either hedge ineffectiveness, hedge components excluded from the assessment of effectiveness, or hedges of translational exposure are recorded in our consolidated income statement in the lines entitled "Other income (expense), net" or "Interest expense." In our consolidated cash flow statement, settlements of cash flow and fair value hedges are classified as operating activities; settlements of all other derivative instruments, including instruments for which hedge accounting has been discontinued, are classified consistent with the nature of the instruments.</div><div style="margin-top:9pt">Cash flow hedges. Qualifying derivatives are accounted for as cash flow hedges when the hedged item is a forecasted transaction. Gains and losses on these instruments are recorded in our consolidated balance sheet on the line entitled “Accumulated other comprehensive income (loss)" until the underlying transaction is recorded in earnings. When the hedged item is realized, gains or losses are reclassified from "Accumulated other comprehensive income (loss)" in our consolidated balance sheet to our consolidated income statement on the same line items as the underlying transactions.</div><div> </div><div>Fair value hedges. Qualifying derivatives are accounted for as fair value hedges when the hedged item is a recognized asset, liability, or firm commitment. Gains and losses on these instruments are recorded in earnings, offsetting gains and losses on the hedged item.</div><div> </div><div>Net investment hedges. Qualifying derivative and nonderivative financial instruments are accounted for as net investment hedges when the hedged item is a nonfunctional currency investment in a subsidiary. Gains and losses on these instruments are included in foreign currency translation adjustments, a component of “Accumulated other comprehensive income (loss)" in our consolidated balance sheet.</div><div style="margin-top:9pt">Employee Benefit and Retirement Plans</div><div>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 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. </div><div style="margin-top:9pt">We recognize the overfunded or underfunded status of our defined benefit pension plans as an asset or a liability in our balance sheet, with changes in the funded status recorded through other comprehensive income in the year in which those changes occur.</div><div style="margin-top:9pt">The expected return on plan assets is determined using the expected rate of return and a calculated value of plan assets referred to as the market-related value of plan assets. Differences between assumed and actual returns are amortized to the market-related value of assets on a straight-line basis over five years.</div><div style="margin-top:9pt">We use the corridor approach in the valuation of defined benefit pension and postretirement benefit plans. The corridor approach defers all actuarial gains and losses resulting from variances between actual results and actuarial assumptions. Those unrecognized gains and losses are amortized when the net gains and losses exceed 10% of the greater of the market-related value of plan assets or the projected benefit obligation at the beginning of the year. The amount in excess of the corridor is amortized over the average remaining life expectancy of retired plan participants, for plans whose benefits have been frozen, or the average remaining service period to retirement date of active plan participants.</div><div style="margin-top:9pt">Accounting Pronouncements Adopted in 2023</div><div style="margin-bottom:9pt">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 relationships, and other transactions affected by the London Interbank Offered Rate (LIBOR) or other reference rates expected to be discontinued. These optional expedients could be applied from March 2020 through December 31, 2022. In December 2022, the FASB issued ASU No. 2022-06 Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848 which deferred the sunset date of Topic 848 from December 31, 2022 to December 31, 2024. The phase out of LIBOR reference rates occurred at different times and began on January 1, 2022. During 2022 and 2023, we amended our interest rate swaps expiring in November 2025 and August 2027, the cross-currency interest rate swap expiring in August 2027, and our five-year revolving credit facility expiring in July 2026 to no longer use LIBOR. Our adoption of this standard was completed during 2023. There was no material impact to our consolidated financial statements associated with adopting this new standard.</div><div style="margin-top:9pt">Accounting Pronouncements Adopted in 2023 and 2025</div><div style="margin-bottom:9pt">In September 2022, the FASB issued ASU No. 2022-04: Liabilities - Supplier Finance Programs (Topic 450-50): Disclosure of Supplier Finance Program Obligations that requires entities that use supplier finance programs in connection with the purchase of goods and services to disclose the key terms of the programs and information about obligations outstanding at the end of the reporting period, including a roll-forward of those obligations. The guidance does not affect the recognition, measurement, or financial statement presentation of supplier finance program obligations. We met the requirements to disclose the key terms of the programs and information about obligations outstanding effective November 30, 2023. The requirement to include a roll-forward of the obligations is effective for our annual period ending November 30, 2025. We include disclosure regarding the key terms of our program and a roll forward of the obligation outstanding in Note 1. The adoption of the new standard did not have a material impact on our consolidated financial statements.</div><div style="margin-top:9pt">Accounting Pronouncements Adopted in 2025</div><div style="margin-bottom:9pt">In November 2023, the FASB issued ASU No. 2023-07: Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures that requires entities to report incremental information about significant segment expenses included in a segment’s profit or loss measure as well as the position and title of the chief operating decision maker. The guidance also requires interim disclosures related to reportable segment profit or loss and assets that had previously only been disclosed annually. The new standard requirements are effective for our annual period ending November 30, 2025 and interim periods of our fiscal year ending November 30, 2026. We include significant segment expenses and the required disclosure about our chief operating decision maker in Note 15. The adoption of the new standard did not have a material impact on our consolidated financial statements.</div><div style="margin-top:9pt">Recently Issued Accounting Pronouncements — Pending Adoption</div><div style="margin-bottom:9pt">In December 2023, the FASB issued ASU No. 2023-09: Income Taxes (Topic 740): Improvements to Income Tax Disclosures that requires entities to disclose additional information about federal, state, and foreign income taxes primarily related to the income tax rate reconciliation and income taxes paid. The new standard also eliminates certain existing disclosure requirements related to uncertain tax positions and unrecognized deferred tax liabilities. The guidance is effective for our fiscal year ending November 30, 2026. The guidance does not affect recognition or measurement in our consolidated financial statements.</div><div style="margin-top:9pt">In November 2024, the FASB issued ASU No. 2024-03: Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40) that requires more detailed disclosure about certain costs and expenses presented in the income statement, including inventory purchases, employee compensation, selling expense and depreciation expense. The guidance is effective for our annual period ending November 30, 2028 and our interim periods during the fiscal year ending November 30, 2029. The guidance does not affect recognition or measurement in our consolidated financial statements.</div><div style="margin-top:9pt">In September 2025, the FASB issued ASU No. 2025-06: Intangibles - Goodwill and Other - Internal-Use Software (Topic 350-40): Targeted Improvements to the Accounting for Internal-Use Software that changes the guidance on when to begin capitalizing costs to develop internal-use software. The guidance does not change the types of costs that are capitalizable. The guidance permits prospective adoption for our fiscal year ending November 30, 2028. We are currently evaluating the impact that the new guidance will have on our consolidated financial statements. </div>In November 2025, the FASB issued ASU No. 2025-09: Derivatives and Hedging (Topic 815), Hedge Accounting Improvements that better aligns the hedge accounting model with risk management activities. The guidance is effective for our fiscal year ending November 30, 2028, with early adoption permitted. We are currently evaluating the impact that the new guidance will have on our consolidated financial statements and our date of adoption.

The financial statements include the accounts of our majority-owned or controlled subsidiaries and affiliates. Intercompany transactions have been eliminated. Investments in unconsolidated affiliates, over which we exercise significant influence, but not control, are accounted for by the equity method. Accordingly, our share of net income or loss from unconsolidated affiliates is included in net income. Certain prior period amounts have been reclassified to conform with the current period presentation.

<div style="margin-top:9pt">Foreign Currency Translation </div><div style="margin-bottom:9pt">For majority-owned or controlled subsidiaries and affiliates located outside of the U.S. that use functional currencies other than the U.S. dollar, asset and liability accounts are translated at the exchange rates in effect at the balance sheet date. The resulting translation adjustments are included in accumulated other comprehensive income (loss), which is a separate component of shareholders’ equity. Income and expense items are translated at average monthly exchange rates. Gains and losses from foreign currency transactions of these majority-owned or controlled subsidiaries and affiliates—specifically, transactions denominated in currencies other than their functional currency—are included in net income, except for intercompany transactions designated as long-term investments.</div><div style="margin-bottom:9pt">Our unconsolidated affiliates located outside the U.S. generally use their local currencies as their functional currencies. The asset and liability accounts of those unconsolidated affiliates are translated at the rates of exchange at the balance sheet date, with the resultant translation adjustments included in accumulated other comprehensive income (loss) of those affiliates. Income and expense items of those affiliates are translated at average monthly rates of exchange. We record our ownership share of the net assets and accumulated other comprehensive income (loss) of our unconsolidated affiliates in our consolidated balance sheet on the lines entitled “Other long-term assets” and “Accumulated other comprehensive loss,” respectively. We record our ownership share of the net income of our unconsolidated affiliates, or a gain or loss associated with the sale of our ownership interest in our unconsolidated affiliates, in our consolidated income statement on the line entitled “Income from unconsolidated operations.”</div>

<div style="margin-top:9pt">Use of Estimates</div><div>Preparation of financial statements that follow accounting principles generally accepted in the U.S. requires us to make estimates and assumptions that affect the amounts reported in the financial statements and notes. Actual amounts could differ from these estimates.</div>

<div style="margin-top:9pt">Cash and Cash Equivalents</div><div>All highly liquid investments purchased with an original maturity of three months or less are classified as cash equivalents.</div>

<div style="margin-top:9pt">Inventories</div><div>Inventories are stated at the lower of cost or net realizable value. Cost is determined under the first-in, first-out costing method (FIFO), including the use of average costs which approximate FIFO.</div>

<div style="margin-top:9pt">Property, Plant and Equipment</div><div>Property, plant and equipment is stated at historical cost and depreciated over its estimated useful life using the straight-line method for financial reporting and both accelerated and straight-line methods for tax reporting. The estimated useful lives range from 20 to 50 years for buildings and 3 to 15 years for machinery, equipment and other assets. Assets leased under finance leases are depreciated over the shorter of the lease term or their estimated useful lives unless it is reasonably certain that we will obtain ownership by the end of the lease term. Repairs and maintenance costs are expensed as incurred.</div>

P20Y

P50Y

P3Y

P15Y

<div style="margin-top:9pt">Computer Software</div><div>We capitalize costs of software developed or obtained for internal use. Capitalized software development costs include only (1) direct costs paid to others for materials and services to develop or buy the software, (2) payroll and payroll-related costs for employees who work directly on the software development project, and (3) interest costs while developing the software. Capitalization of these costs stops, and amortization begins, when the project is substantially complete and ready for use. </div>Capitalized software is classified within "Other long-term assets" in the consolidated balance sheet. Software is amortized using the straight-line method over estimated useful lives ranging from 3 to 13 years, but not exceeding the expected life of the product.

P3Y

P13Y

<div style="margin-top:9pt">Goodwill and Other Intangible Assets</div><div>We review the carrying value of goodwill and indefinite-lived intangible assets and conduct tests of impairment on an annual basis as described below. We also test goodwill for impairment if events or circumstances indicate it is more likely than not that the fair value of a reporting unit is below its carrying amount and test indefinite-lived intangible assets for impairment if events or changes in circumstances indicate that the asset might be impaired. Separable intangible assets that have finite useful lives are amortized over those lives.</div><div style="margin-top:9pt">Determining the fair value of a reporting unit or an indefinite-lived purchased intangible asset is judgmental in nature and involves the use of significant estimates and assumptions. These estimates and assumptions include revenue growth rates and operating margins used to calculate projected future cash flows, risk-adjusted discount rates, assumed royalty rates, future economic and market conditions and determination of appropriate market comparables. We base our fair value estimates on assumptions we believe to be reasonable but that are unpredictable and inherently uncertain. Actual future results may differ from these estimates.</div><div style="margin-top:9pt">Goodwill Impairment</div><div>Our reporting units used to assess potential goodwill impairment are the same as our business segments. We estimate the fair value of a reporting unit by using a discounted cash flow model and then compare that to the carrying amount of the reporting unit, including intangible assets and goodwill. An impairment charge would be recognized to the extent that the carrying amount of the reporting unit exceeds the estimated fair value of the reporting unit. </div><div style="margin-top:9pt">Indefinite-lived Intangible Asset Impairment</div><div>Our indefinite-lived intangible assets consist of acquired brand names and trademarks. We estimate fair value by using a relief-from-royalty method and then compare that to the carrying amount of the indefinite-lived intangible asset. If the carrying amount of the indefinite-lived intangible asset exceeds its estimated fair value, an impairment charge would be recorded to the extent the recorded indefinite-lived intangible asset exceeds the fair value.</div><div style="margin-top:9pt">Long-lived Asset Impairment</div><div>Fixed assets and amortizable intangible assets are reviewed for impairment as events or changes in circumstances occur indicating that the carrying value of the asset may not be recoverable. Undiscounted cash flow analyses are used to determine if an impairment exists. If an impairment is determined to exist, the loss would be calculated based on the excess of the asset’s carrying value over its estimated fair value.</div>

<div style="margin-top:9pt">The following table presents a roll forward of our obligations relating to suppliers participating in the SCF program for the year ended November 30, 2025:</div><div style="margin-top:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:97.953%"><tr><td style="width:1.0%"></td><td style="width:72.183%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:25.617%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">(millions)</td><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Obligation at beginning of year</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">417.4 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Invoice amounts added </td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,124.8 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Invoice amounts paid </td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(1,209.7)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Foreign currency translation and other adjustments</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(0.4)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Obligation at end of year</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">332.1 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

417400000

1124800000

1209700000 -400000

332100000

<div style="margin-top:9pt">Leases </div><div>We determine whether a contract is or contains a lease at contract inception based on the presence of identified assets and our right to obtain substantially all the economic benefit from or to direct the use of such assets. When we determine a lease exists, we record a right-of-use (“ROU”) asset and corresponding lease liability on our consolidated balance sheet. ROU assets represent our right to use an underlying asset for the lease term. Lease liabilities represent our obligation to make lease payments arising from the lease. ROU assets are recognized at the lease commencement date at the value of the lease liability and are adjusted for any prepayments, lease incentives received, and initial direct costs incurred. Lease liabilities are recognized at the lease commencement date based on the present value of remaining lease payments over the lease term. As the discount rate implicit in the lease is not readily determinable in most of our leases, we use our incremental borrowing rate based on the information available at the lease commencement date in determining the present value of lease payments. Our lease terms include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. We do not record lease contracts with a term of 12 months or less on our consolidated balance sheets.</div><div style="margin-top:9pt;text-align:justify">When our real estate lease arrangements include lease and non-lease components (for example, common area maintenance), we account for each component separately, based on their relative standalone prices. For all other asset categories, we combine lease components and non-lease components into a single lease commitment.</div><div style="margin-top:9pt;text-align:justify">We recognize fixed lease expense for operating leases on a straight-line basis over the lease term. For finance leases, we recognize amortization expense over the shorter of the estimated useful life of the underlying assets or the lease term. In instances of title transfer, expense is recognized over the useful life. Interest expense on a finance lease is recognized using the effective interest method over the lease term.</div>

<div style="margin-top:9pt">Revenue Recognition</div><div>We manufacture, market, and distribute spices, seasoning mixes, condiments and other flavorful products to the entire food industry—retailers, food manufacturers, and foodservice businesses. Our revenue arrangements generally include a single performance obligation relating to the fulfillment of a customer order, which in some cases is 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. Revenues are recorded net of trade and sales incentives and estimated product returns. Known or expected pricing or revenue adjustments, such as trade discounts, rebates and returns, are estimated at the time of sale. All taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction and collected by us from a customer for sales, value added and other excise taxes are excluded from net sales. We account for product shipping and handling activities that occur before the customer has obtained control of a good as fulfillment activities (i.e., an expense) rather than as a promised service with costs for these activities recorded within Cost of goods sold. We expense any incremental costs of obtaining a contract when the contract is for a period of one year or less. </div><div style="margin-top:9pt">Amounts billed and due from our customers are classified as accounts receivable on the balance sheet and require payment on a short-term basis. Our allowance for doubtful accounts represents our estimate of probable non-payments and credit losses in our existing receivables, as determined based on a review of past due balances and other specific account data.</div><div style="margin-top:9pt">The following table sets forth our net sales by the Americas, Europe, Middle East and Africa (EMEA), and Asia/Pacific (APAC) geographic regions: <table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:49.339%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.216%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.363%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.216%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.366%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">(millions)</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Americas</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">EMEA</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">APAC</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Total</td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">2025</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">4,867.8 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">1,268.5 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">704.0 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">6,840.3 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">2024</td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">4,801.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">1,239.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">682.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">6,723.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">2023</td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">4,756.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">1,212.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">692.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">6,662.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:9pt">Performance Obligations</div><div>Our revenues primarily result from contracts or purchase orders with customers, which generally are both short-term in nature and have a single performance obligation—the delivery of our products to customers. We assess the goods and services promised in our customers’ contracts or purchase orders and identify a performance obligation for each promise to transfer a good or service (or bundle of goods or services) that is distinct. To identify the performance obligations, we consider all the goods or services promised, whether explicitly stated or implied based on customary business practices.</div><div style="margin-top:9pt;text-align:justify">Significant Judgments</div><div>Sales are recorded net of trade and sales incentives and estimated product returns. Known or expected pricing or revenue adjustments, such as trade discounts, rebates or returns, are estimated at the time of sale. Where applicable, future reimbursements are estimated based on a combination of historical patterns and the Company's then-current expectations regarding what was earned through these programs as of the balance sheet date. Key sales terms, such as pricing and quantities ordered, are established on a frequent basis such that most customer arrangements and related incentives have a one-year or shorter duration. Estimates that affect revenue, such as trade incentives and product returns, are monitored and adjusted each period until the incentives or product returns are realized. The adjustments recognized during the years ended November 30, 2025, 2024, and 2023 resulting from updated estimates of revenue for prior year product sales were not significant. The unsettled portion remaining in accrued liabilities for these activities was $228.8 million and $206.4 million at November 30, 2025 and 2024, respectively.</div>

<div style="margin-top:9pt">The following table sets forth our net sales by the Americas, Europe, Middle East and Africa (EMEA), and Asia/Pacific (APAC) geographic regions: <table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:49.339%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.216%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.363%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.216%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.366%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">(millions)</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Americas</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">EMEA</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">APAC</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Total</td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">2025</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">4,867.8 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">1,268.5 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">704.0 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">6,840.3 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">2024</td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">4,801.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">1,239.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">682.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">6,723.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">2023</td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">4,756.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">1,212.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">692.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">6,662.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

4867800000

1268500000

704000000.0

6840300000

4801900000

1239300000

682500000

6723700000

4756900000

1212800000

692500000

6662200000

228800000 206400000

<div style="margin-top:9pt">Shipping and Handling </div><div>Shipping and handling costs on our products sold to customers related to activities that occur before the customer has obtained control of a good are included in cost of goods sold in the consolidated income statement.</div>

<div style="margin-top:9pt">Brand Marketing Support</div><div>Total brand marketing support costs, which are included in our consolidated income statement in the line entitled "Selling, general and administrative expense," were $276.7 million, $265.0 million, and $247.1 million for 2025, 2024, and 2023, respectively. Brand marketing support costs include advertising and promotions but exclude trade funds paid to customers for such activities. All trade funds paid to customers are reflected in the consolidated income statement as a reduction of net sales. Promotion costs include public relations, shopper marketing, social marketing activities, general consumer promotion activities and depreciation of assets used in these promotional activities. Advertising costs include the development, production and communication of advertisements through television, digital, print and radio. Development and production costs are expensed in the period in which the advertisement is first run. All other costs of advertising are expensed as incurred. Advertising expense was $225.1 million, $218.8 million, and $198.1 million for 2025, 2024, and 2023, respectively.</div>

276700000

265000000.0

247100000

225100000

218800000

198100000

<div style="margin-top:9pt">Research and Development</div><div>Research and development costs are expensed as incurred and are included in our consolidated income statement in the line entitled "Selling, general and administrative expense." Research and development expense was $106.1 million, $102.9 million, and $94.9 million for 2025, 2024, and 2023, respectively.</div>

106100000

102900000

94900000

<div style="margin-top:9pt">Income Taxes</div><div>Income taxes are recognized in accordance with the liability method of accounting. Deferred taxes are recognized for the estimated taxes ultimately payable or recoverable based on enacted tax law. Inherent in determining our annual tax rate are judgments regarding business plans, planning opportunities, and expectations about future outcomes. Realization of certain deferred tax assets, primarily net operating loss and other carryforwards, is dependent upon generating sufficient taxable income in the appropriate jurisdiction prior to the expiration of the carryforward periods. Changes in enacted tax rates are reflected in the tax provision as they occur. </div><div style="margin-top:9pt">We record valuation allowances to reduce deferred tax assets to the amount that is more likely than not to be realized. When assessing the need for valuation allowances, we consider future taxable income and ongoing </div><div style="margin-top:9pt">prudent and feasible tax planning strategies. Should a change in circumstances lead to a change in judgment about the realizability of deferred tax assets in future years, we would adjust related valuation allowances in the period that the change in circumstances occurs, along with a corresponding adjustment to our provision for income taxes. </div><div style="margin-top:9pt">We recognize a tax position in our financial statements when it is more likely than not that the position will be sustained upon examination based on the technical merits of the position. That position is then measured at the largest amount of benefit that is greater than 50 percent likely of being realized upon ultimate settlement. The resolution of tax reserves and changes in valuation allowances could be material to our results of operations for any period but is not expected to be material to our financial position.</div><div style="margin-top:9pt">We are subject to a U.S. tax requirement that certain income earned by foreign subsidiaries, referred to as Global Intangible Low-Taxed Income (GILTI), must be included in the gross income of the subsidiary’s U.S. shareholder. Accounting principles generally accepted in the U.S. provide for an accounting policy election of either recognizing deferred taxes for temporary differences expected to reverse as GILTI in future years or recognizing such taxes as a current period expense when incurred. We have elected to treat GILTI as a current period expense when incurred.</div>

<div style="margin-top:9pt">Stock-Based Compensation </div><div>We recognize stock-based compensation expense associated with options and restricted stock units (RSUs), which contain provisions that such awards fully vest upon an employee’s retirement, ratably over the shorter of the vesting period or the employees’ retirement eligibility date. Accordingly, we recognize stock-based compensation associated with options and RSUs subject to immediate retirement eligible vesting provisions on the date of grant.</div><div style="margin-top:9pt">Compensation expense associated with our long-term performance plan (LTPP) is recorded in the income statement over the three-year period of the program based on the number of shares ultimately expected to be awarded using our estimate of the most likely outcome of achieving the performance objectives. </div><div style="margin-top:9pt">We recognize stock-based compensation expense associated with price-vested stock options ratably over the vesting period as such options do not contain provisions that fully vest these awards upon an employee becoming retirement eligible.</div><div style="margin-top:9pt">We estimate forfeitures associated with all stock-based compensation at the time of grant based on historical experience and revise this estimate in subsequent periods if actual forfeitures differ.</div>

P3Y

<div style="margin-top:9pt">Derivative Instruments</div><div>We record all derivatives on our balance sheet at fair value. The fair value of derivative instruments is recorded in our consolidated balance sheet on the lines entitled “Other current assets," "Other long-term assets," "Other accrued liabilities," or "Other long-term liabilities" depending on their fair value and maturity. Gains and losses representing either hedge ineffectiveness, hedge components excluded from the assessment of effectiveness, or hedges of translational exposure are recorded in our consolidated income statement in the lines entitled "Other income (expense), net" or "Interest expense." In our consolidated cash flow statement, settlements of cash flow and fair value hedges are classified as operating activities; settlements of all other derivative instruments, including instruments for which hedge accounting has been discontinued, are classified consistent with the nature of the instruments.</div><div style="margin-top:9pt">Cash flow hedges. Qualifying derivatives are accounted for as cash flow hedges when the hedged item is a forecasted transaction. Gains and losses on these instruments are recorded in our consolidated balance sheet on the line entitled “Accumulated other comprehensive income (loss)" until the underlying transaction is recorded in earnings. When the hedged item is realized, gains or losses are reclassified from "Accumulated other comprehensive income (loss)" in our consolidated balance sheet to our consolidated income statement on the same line items as the underlying transactions.</div><div> </div><div>Fair value hedges. Qualifying derivatives are accounted for as fair value hedges when the hedged item is a recognized asset, liability, or firm commitment. Gains and losses on these instruments are recorded in earnings, offsetting gains and losses on the hedged item.</div><div> </div><div>Net investment hedges. Qualifying derivative and nonderivative financial instruments are accounted for as net investment hedges when the hedged item is a nonfunctional currency investment in a subsidiary. Gains and losses on these instruments are included in foreign currency translation adjustments, a component of “Accumulated other comprehensive income (loss)" in our consolidated balance sheet.</div>

<div style="margin-top:9pt">Employee Benefit and Retirement Plans</div><div>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 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. </div><div style="margin-top:9pt">We recognize the overfunded or underfunded status of our defined benefit pension plans as an asset or a liability in our balance sheet, with changes in the funded status recorded through other comprehensive income in the year in which those changes occur.</div><div style="margin-top:9pt">The expected return on plan assets is determined using the expected rate of return and a calculated value of plan assets referred to as the market-related value of plan assets. Differences between assumed and actual returns are amortized to the market-related value of assets on a straight-line basis over five years.</div><div style="margin-top:9pt">We use the corridor approach in the valuation of defined benefit pension and postretirement benefit plans. The corridor approach defers all actuarial gains and losses resulting from variances between actual results and actuarial assumptions. Those unrecognized gains and losses are amortized when the net gains and losses exceed 10% of the greater of the market-related value of plan assets or the projected benefit obligation at the beginning of the year. The amount in excess of the corridor is amortized over the average remaining life expectancy of retired plan participants, for plans whose benefits have been frozen, or the average remaining service period to retirement date of active plan participants.</div>

<div style="margin-top:9pt">Accounting Pronouncements Adopted in 2023</div><div style="margin-bottom:9pt">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 relationships, and other transactions affected by the London Interbank Offered Rate (LIBOR) or other reference rates expected to be discontinued. These optional expedients could be applied from March 2020 through December 31, 2022. In December 2022, the FASB issued ASU No. 2022-06 Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848 which deferred the sunset date of Topic 848 from December 31, 2022 to December 31, 2024. The phase out of LIBOR reference rates occurred at different times and began on January 1, 2022. During 2022 and 2023, we amended our interest rate swaps expiring in November 2025 and August 2027, the cross-currency interest rate swap expiring in August 2027, and our five-year revolving credit facility expiring in July 2026 to no longer use LIBOR. Our adoption of this standard was completed during 2023. There was no material impact to our consolidated financial statements associated with adopting this new standard.</div><div style="margin-top:9pt">Accounting Pronouncements Adopted in 2023 and 2025</div><div style="margin-bottom:9pt">In September 2022, the FASB issued ASU No. 2022-04: Liabilities - Supplier Finance Programs (Topic 450-50): Disclosure of Supplier Finance Program Obligations that requires entities that use supplier finance programs in connection with the purchase of goods and services to disclose the key terms of the programs and information about obligations outstanding at the end of the reporting period, including a roll-forward of those obligations. The guidance does not affect the recognition, measurement, or financial statement presentation of supplier finance program obligations. We met the requirements to disclose the key terms of the programs and information about obligations outstanding effective November 30, 2023. The requirement to include a roll-forward of the obligations is effective for our annual period ending November 30, 2025. We include disclosure regarding the key terms of our program and a roll forward of the obligation outstanding in Note 1. The adoption of the new standard did not have a material impact on our consolidated financial statements.</div><div style="margin-top:9pt">Accounting Pronouncements Adopted in 2025</div><div style="margin-bottom:9pt">In November 2023, the FASB issued ASU No. 2023-07: Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures that requires entities to report incremental information about significant segment expenses included in a segment’s profit or loss measure as well as the position and title of the chief operating decision maker. The guidance also requires interim disclosures related to reportable segment profit or loss and assets that had previously only been disclosed annually. The new standard requirements are effective for our annual period ending November 30, 2025 and interim periods of our fiscal year ending November 30, 2026. We include significant segment expenses and the required disclosure about our chief operating decision maker in Note 15. The adoption of the new standard did not have a material impact on our consolidated financial statements.</div><div style="margin-top:9pt">Recently Issued Accounting Pronouncements — Pending Adoption</div><div style="margin-bottom:9pt">In December 2023, the FASB issued ASU No. 2023-09: Income Taxes (Topic 740): Improvements to Income Tax Disclosures that requires entities to disclose additional information about federal, state, and foreign income taxes primarily related to the income tax rate reconciliation and income taxes paid. The new standard also eliminates certain existing disclosure requirements related to uncertain tax positions and unrecognized deferred tax liabilities. The guidance is effective for our fiscal year ending November 30, 2026. The guidance does not affect recognition or measurement in our consolidated financial statements.</div><div style="margin-top:9pt">In November 2024, the FASB issued ASU No. 2024-03: Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40) that requires more detailed disclosure about certain costs and expenses presented in the income statement, including inventory purchases, employee compensation, selling expense and depreciation expense. The guidance is effective for our annual period ending November 30, 2028 and our interim periods during the fiscal year ending November 30, 2029. The guidance does not affect recognition or measurement in our consolidated financial statements.</div><div style="margin-top:9pt">In September 2025, the FASB issued ASU No. 2025-06: Intangibles - Goodwill and Other - Internal-Use Software (Topic 350-40): Targeted Improvements to the Accounting for Internal-Use Software that changes the guidance on when to begin capitalizing costs to develop internal-use software. The guidance does not change the types of costs that are capitalizable. The guidance permits prospective adoption for our fiscal year ending November 30, 2028. We are currently evaluating the impact that the new guidance will have on our consolidated financial statements. </div>In November 2025, the FASB issued ASU No. 2025-09: Derivatives and Hedging (Topic 815), Hedge Accounting Improvements that better aligns the hedge accounting model with risk management activities. The guidance is effective for our fiscal year ending November 30, 2028, with early adoption permitted. We are currently evaluating the impact that the new guidance will have on our consolidated financial statements and our date of adoption.

SPECIAL CHARGES<div style="margin-top:5pt">The following is a summary of special charges, including transaction and integration expenses, recognized for the years ended November 30 (in millions):</div><div style="margin-top:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:84.795%"><tr><td style="width:1.0%"></td><td style="width:55.624%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.382%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.210%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.384%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"> </td><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2023</td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">Employee severance and related benefits</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">15.9 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">2.7 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">34.4 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Other costs</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3.3 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">6.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">26.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Transaction and integration expenses</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1.9 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;text-indent:9pt;vertical-align:bottom">Special charges</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">21.1 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">9.5 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">61.2 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Transaction and integration expenses included in cost of goods sold</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2.1 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top">Total special charges</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">23.2 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">9.5 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">61.2 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:9pt">Special Charges</div><div style="margin-top:9pt">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 to reduce fixed costs, simplify or improve processes, and improve our competitiveness. These charges 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. Expenses associated with the approved action are classified as special charges upon recognition and monitored on an ongoing basis through completion. Certain ancillary expenses related to these actions approved by our Management Committee do not qualify for accrual upon approval but are included as special charges as incurred during the course of the actions.</div><div style="margin-top:9pt">We continue to evaluate changes to our organizational structure to reduce fixed costs, simplify or improve processes, and improve our competitiveness. </div><div style="margin-top:9pt">During 2025, we recognized $19.2 million of special charges, consisting of $15.9 million in employee severance and related benefit costs related to global selling, general and administrative streamlining actions approved by our Management Committee and $3.3 million associated with other actions.</div><div style="margin-top:9pt">During 2024, we recognized $9.5 million of special charges, consisting of $4.5 million associated with our GOE program, as more fully described below, and $5.0 million associated with the transition of a manufacturing facility in EMEA, as more fully described below.</div><div style="margin-top:9pt">During 2023, we recognized $61.2 million of special charges, consisting principally of $42.8 million associated with our GOE program, as more fully described below, $8.7 million associated with the transition of a manufacturing facility in EMEA, as more fully described below, and streamlining actions of $8.8 million in the Americas region, and $0.9 million in the EMEA region.</div><div style="margin-top:9pt">As of November 30, 2025 and 2024, reserves associated with special charges of $4.7 million and $2.7 million respectively, are included in "Other accrued liabilities" in our consolidated balance sheet.</div><div style="margin-top:9pt">In 2022, our Management Committee approved the Global Operating Effectiveness (GOE) program. The GOE program included a voluntary retirement plan, which included enhanced separation benefits to certain U.S. employees aged 55 years or older with at least ten years of service to the Company. This voluntary retirement plan commenced in November 2022 and participants were required to submit their notifications by December 30, 2022. The total cost of the GOE program, which was recognized as special charges in our consolidated income statement during the three year period ending November 30, 2024, was $52.9 million, primarily including employee severance and related benefit costs. Special charges recognized during the year ended November 30, 2024 included $4.2 million in severance and related benefit costs and $0.3 million of third-party expenses and other costs. Special charges recognized during the year ended November 30, 2023 included $19.7 million associated with the voluntary retirement plan, $13.4 million of employee severance and related benefit costs and $9.7 million of third-party expenses and other costs. </div><div style="margin-top:9pt">In 2022, our Management Committee approved an initiative to consolidate our manufacturing operations in the United Kingdom into a net-zero carbon condiments manufacturing and distribution center facility with state-of-the-art technology. These changes to our supply chain operations were implemented to improve profitability by consolidating our operations into a scalable platform while expanding our capacity. The total cost of this initiative was $41.4 million which was recognized as special charges in our consolidated income statement through 2024, including employee severance and related benefit costs, accelerated depreciation, equipment relocation costs, decommissioning and other property related lease exit costs. During 2024, we recognized a reversal of $1.5 million associated with severance and related benefit costs, based on a change in estimate, and $6.5 million in third-party expenses and other costs. During 2023, we recognized $1.6 million in accelerated depreciation and $7.1 million in third party expenses and other costs.</div><div style="margin-top:9pt">Transaction and Integration Expenses</div><div style="margin-top:9pt">On March 31, 2025, we purchased substantially all of the assets of Jurado, Inc. (Jurado), a supplier of chili mash located in Las Cruces, New Mexico. The purchase price for Jurado was $38.1 million, including $14.3 million associated with a customary purchase price adjustment and $4.0 million of payments to be made in $2.0 million installments on the first and second anniversary of the acquisition date. The valuation of the acquired assets resulted in $32.3 million allocated to tangible assets acquired, $2.7 million allocated to other intangible assets, and $3.1 million allocated to goodwill, which is deductible for tax purposes. Tangible assets principally consist of $26.4 million of raw material and work-in-process inventory which were valued using a net realizable value approach, resulting in a step-up of $2.1 million that was recognized in cost of goods sold as the related inventory was sold, and property, plant and equipment of $5.8 million. The determination of the fair value of the acquired Jurado assets was finalized during 2025. The results of Jurado’s operations have been included in our financial statements from the date of the acquisition and are not material. </div><div style="margin-top:9pt">During 2025, we recorded $4.0 million of transaction and integration costs which includes the step-up of acquired Jurado inventory recognized in cost of goods sold of $2.1 million and transaction costs of $1.9 million recognized in special charges. </div><div style="margin-top:9pt">The following is a summary of special charges by business segments for the years ended November 30 (in millions):</div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:84.795%"><tr><td style="width:1.0%"></td><td style="width:55.624%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.382%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.210%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.384%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"> </td><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2023</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">Consumer segment</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">13.6 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">3.4 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">35.8 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Flavor Solutions segment</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">9.6 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">6.1 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">25.4 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top">Total special charges</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">23.2 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">9.5 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">61.2 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div> <div style="margin-top:5pt">The following is a summary of special charges, including transaction and integration expenses, recognized for the years ended November 30 (in millions):</div><div style="margin-top:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:84.795%"><tr><td style="width:1.0%"></td><td style="width:55.624%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.382%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.210%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.384%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"> </td><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2023</td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">Employee severance and related benefits</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">15.9 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">2.7 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">34.4 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Other costs</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3.3 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">6.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">26.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Transaction and integration expenses</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1.9 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;text-indent:9pt;vertical-align:bottom">Special charges</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">21.1 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">9.5 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">61.2 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Transaction and integration expenses included in cost of goods sold</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2.1 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top">Total special charges</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">23.2 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">9.5 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">61.2 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div> 15900000 2700000 34400000 3300000 6800000 26800000 1900000 0 0 21100000 9500000 61200000

-2100000

23200000 9500000 61200000 19200000 15900000 3300000 9500000 4500000 5000000.0 61200000 42800000 8700000 8800000 900000 4700000 2700000 52900000 4200000

300000

19700000 13400000

9700000

41400000

-1500000

6500000

1600000

7100000

38100000

14300000 4000000 2000000 32300000 2700000 3100000 26400000 2100000

5800000

4000000

2100000 1900000 <div style="margin-top:9pt">The following is a summary of special charges by business segments for the years ended November 30 (in millions):</div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:84.795%"><tr><td style="width:1.0%"></td><td style="width:55.624%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.382%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.210%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.384%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"> </td><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2023</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">Consumer segment</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">13.6 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">3.4 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">35.8 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Flavor Solutions segment</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">9.6 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">6.1 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">25.4 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top">Total special charges</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">23.2 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">9.5 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">61.2 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div> 13600000 3400000 35800000 9600000 6100000 25400000 23200000 9500000 61200000

GOODWILL AND INTANGIBLE ASSETS<div style="margin-top:5pt">The following table displays intangible assets as of November 30:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:52.926%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.173%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.466%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.466%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.469%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"><div> </div></td><td colspan="6" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2025</td><td colspan="6" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2024</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">(millions)</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Gross carrying amount</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Accumulated amortization</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Gross carrying amount</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Accumulated amortization</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Definite-lived intangible assets</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">546.9 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">302.6 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">537.5 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">262.5 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Indefinite-lived intangible assets:</td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top">Goodwill</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">5,301.3 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">5,227.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top">Brand names and trademarks</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3,048.8 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3,043.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="2" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">8,350.1 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">8,271.4 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Total goodwill and intangible assets</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">8,897.0 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">302.6 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">8,808.9 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">262.5 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:9pt">Intangible asset amortization expense was $35.2 million, $35.0 million, and $34.9 million for 2025, 2024, and 2023, respectively. At November 30, 2025, definite-lived intangible assets had a weighted-average remaining life of approximately 8 years.</div><div style="margin-top:9pt">Amortization expense for the next five years, based on intangible asset balances as of November 30, 2025, is estimated to be as follows: </div><div style="margin-top:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:89.529%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.271%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">2026</td><td style="border-top:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:2pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">35.7 </td><td style="border-top:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">2027</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">33.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">2028</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">32.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">2029</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">28.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">2030</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">25.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:9pt">The changes in the carrying amount of goodwill by segment for the years ended November 30 were as follows:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.701%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.449%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.449%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.449%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.452%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"><div> </div></td><td colspan="6" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2025</td><td colspan="6" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2024</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">(millions)</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Consumer</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Flavor Solutions</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Consumer</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Flavor Solutions</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">Beginning of year</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">3,583.1 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">1,644.4 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">3,609.6 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">1,650.5 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Acquisition</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1.6 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1.5 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Foreign currency fluctuations</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">60.9 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">9.8 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(26.5)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(6.1)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">End of year</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">3,645.6 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">1,655.7 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">3,583.1 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">1,644.4 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

<div style="margin-top:5pt">The following table displays intangible assets as of November 30:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:52.926%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.173%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.466%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.466%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.469%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"><div> </div></td><td colspan="6" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2025</td><td colspan="6" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2024</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">(millions)</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Gross carrying amount</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Accumulated amortization</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Gross carrying amount</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Accumulated amortization</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Definite-lived intangible assets</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">546.9 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">302.6 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">537.5 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">262.5 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Indefinite-lived intangible assets:</td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top">Goodwill</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">5,301.3 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">5,227.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top">Brand names and trademarks</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3,048.8 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3,043.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="2" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">8,350.1 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">8,271.4 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Total goodwill and intangible assets</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">8,897.0 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">302.6 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">8,808.9 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">262.5 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

546900000

302600000

537500000

262500000

5301300000

5227500000

3048800000

3043900000

8350100000 8271400000 8897000000 302600000 8808900000 262500000

35200000

35000000.0

34900000

P8Y

<div style="margin-top:9pt">Amortization expense for the next five years, based on intangible asset balances as of November 30, 2025, is estimated to be as follows: </div><div style="margin-top:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:89.529%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.271%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">2026</td><td style="border-top:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:2pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">35.7 </td><td style="border-top:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">2027</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">33.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">2028</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">32.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">2029</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">28.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">2030</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">25.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

35700000

33900000

32700000

28000000.0

25900000

<div style="margin-top:9pt">The changes in the carrying amount of goodwill by segment for the years ended November 30 were as follows:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.701%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.449%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.449%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.449%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.452%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"><div> </div></td><td colspan="6" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2025</td><td colspan="6" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2024</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">(millions)</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Consumer</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Flavor Solutions</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Consumer</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Flavor Solutions</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">Beginning of year</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">3,583.1 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">1,644.4 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">3,609.6 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">1,650.5 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Acquisition</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1.6 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1.5 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Foreign currency fluctuations</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">60.9 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">9.8 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(26.5)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(6.1)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">End of year</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">3,645.6 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">1,655.7 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">3,583.1 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">1,644.4 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

3583100000

1644400000

3609600000

1650500000

1600000

1500000

60900000

9800000

-26500000

-6100000

3645600000

1655700000

3583100000

1644400000

INVESTMENTS IN AFFILIATES<div style="margin-top:5pt">Income from unconsolidated operations was $72.2 million, $74.2 million, and $56.4 million in 2025, 2024, and 2023, respectively. Our principal earnings from unconsolidated affiliates are from our 50% interest in McCormick de Mexico. Profit from this joint venture represented 93% of income from unconsolidated operations in 2025 and 95% in both 2024 and 2023. </div><div style="margin-top:9pt">Summarized annual and year-end information from the financial statements of unconsolidated affiliates representing 100% of the businesses follows:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:58.782%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.372%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">(millions)</td><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2023</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Net sales</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">1,233.3 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">1,281.5 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">1,193.2 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Gross profit</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">504.9 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">519.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">446.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Net income</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">157.6 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">162.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">124.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Current assets</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">565.2 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">497.4 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">522.1 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Noncurrent assets</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">134.4 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">112.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">122.4 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Current liabilities</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">352.1 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">304.4 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">336.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Noncurrent liabilities</td><td colspan="2" style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">8.4 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">6.9 </td><td style="border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">7.6 </td><td style="border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:9pt">Royalty income from unconsolidated affiliates was $35.6 million, $37.0 million, and $35.1 million for 2025, 2024, and 2023, respectively.</div><div>On January 2, 2026, we acquired an additional 25% ownership interest in McCormick de Mexico from Grupo Herdez, for a purchase price of $750 million, which increases our ownership to a 75% controlling interest. We believe the acquisition creates opportunities for further growth in the Mexican market and provides a strategic platform for further expansion in Latin America. McCormick de Mexico is a prominent food company in Mexico, with a broad portfolio, including mayonnaise, spices, marmalades, mustard, hot sauce, and tea, sold under McCormick brands.</div>

72200000

74200000

56400000

0.50

0.93 0.95

<div style="margin-top:9pt">Summarized annual and year-end information from the financial statements of unconsolidated affiliates representing 100% of the businesses follows:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:58.782%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.372%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">(millions)</td><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2023</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Net sales</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">1,233.3 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">1,281.5 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">1,193.2 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Gross profit</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">504.9 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">519.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">446.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Net income</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">157.6 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">162.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">124.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Current assets</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">565.2 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">497.4 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">522.1 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Noncurrent assets</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">134.4 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">112.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">122.4 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Current liabilities</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">352.1 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">304.4 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">336.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Noncurrent liabilities</td><td colspan="2" style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">8.4 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">6.9 </td><td style="border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">7.6 </td><td style="border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

1233300000

1281500000

1193200000

504900000

519300000

446900000

157600000

162800000

124300000

565200000

497400000

522100000

134400000

112700000

122400000

352100000

304400000

336500000

8400000

6900000

7600000

35600000

37000000.0

35100000

0.25

750000000

0.75

FINANCING ARRANGEMENTS<div style="margin-top:5pt">Our outstanding debt, including finance leases, was as follows at November 30:</div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:76.319%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.190%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.191%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">(millions)</td><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Short-term borrowings</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"> </td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"> </td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Commercial paper</td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">351.8 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">431.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Other</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">29.6 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">51.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"> </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">381.4 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">483.1 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Weighted-average interest rate of short-term borrowings at year-end</td><td colspan="2" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4.1 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4.7 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td></tr><tr style="height:12pt"><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Long-term debt</td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:4.5pt">3.25% notes due 11/15/2025</div></td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">250.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:4.5pt">0.90% notes due 2/15/2026 </div></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">500.0 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">500.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:4.5pt">3.40% notes due 8/15/2027(1)</div></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">750.0 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">750.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:4.5pt">2.50% notes due 4/15/2030(2)</div></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">500.0 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">500.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:4.5pt">1.85% notes due 2/15/2031</div></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">500.0 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">500.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:4.5pt">4.95% notes due 4/15/2033(3)</div></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">500.0 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">500.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:4.5pt">4.70% notes due 10/15/2034(4)</div></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">500.0 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">500.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:4.5pt">4.20% notes due 8/15/2047</div></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">300.0 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">300.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 5.5pt;text-align:left;vertical-align:top">Other, including finance leases</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">104.7 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">119.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div>Unamortized discounts, premiums, debt issuance costs and fair value adjustments(5)</div></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(39.8)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(61.0)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="2" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3,614.9 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3,858.8 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Less current portion</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">509.1 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">265.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top"> </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">3,105.8 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">3,593.6 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="padding-left:15.75pt"> </div><div style="padding-left:15.75pt;text-indent:-18pt">(1)Interest rate swaps, settled upon the issuance of these notes, effectively set the interest rate on the $750 million notes at a weighted-average fixed rate of 3.44%. Separately, the fixed interest rate on $250 million of the 3.40% notes due in 2027 is effectively converted to a variable rate by interest rate swaps through 2027. Net interest payments are based on USD SOFR plus 0.907% (previously U.S. three-month LIBOR plus 0.685%) with an effective rate of 4.98% as of November 30, 2025.</div><div style="padding-left:15.75pt;text-indent:-18pt">(2)Interest rate swaps, settled upon the issuance of these notes, effectively set the interest rate on the $500 million notes at a weighted-average fixed rate of 2.62%. Separately, the fixed interest rate on $250 million of the 2.50% notes due in 2030 is effectively converted to a variable rate by interest rate swaps through 2030. Net interest payments are based on USD SOFR plus 0.684% with an effective rate of 4.53% as of November 30, 2025.</div><div style="padding-left:15.75pt;text-indent:-18pt">(3)Treasury lock agreements, settled upon issuance of these notes, effectively set the interest rate on these $500 million notes at a weighted-average fixed rate of 5.00%. </div><div style="padding-left:15.75pt;text-indent:-18pt">(4)Treasury lock agreements, settled upon issuance of these notes, effectively set the interest rate on these $500 million notes at a weighted-average fixed rate of 4.68%. </div><div style="padding-left:15.75pt;text-indent:-18pt">(5)Includes unamortized discounts, premiums, and debt issuance costs of $(21.1) million and $(26.0) million as of November 30, 2025 and 2024, respectively. Includes fair value adjustment associated with interest rate swaps designated as fair value hedges of $(18.7) million and $(35.0) million as of November 30, 2025 and 2024, respectively.</div><div style="margin-top:9pt">Maturities of long-term debt, including finance leases, during the fiscal years subsequent to November 30, 2025 are as follows (in millions):<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:89.529%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.271%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">2026</td><td style="border-top:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:2pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">509.1 </td><td style="border-top:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">2027</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">759.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">2028</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">10.4 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">2029</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">20.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">2030</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">511.6 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Thereafter</td><td colspan="2" style="border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,843.1 </td><td style="border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:9pt">In October 2024, we issued $500 million aggregate principal amount of 4.70% unsecured senior notes due 2034. Interest is payable semi-annually in April and October each year, beginning on April 15, 2025. As part of the issuance of new debt, we entered and settled treasury locks in a notional amount of $150 million to manage our interest rate risk associated with the issuance of the unsecured senior notes. We designated the treasury lock arrangements as cash flow hedges with the realized gain of $0.9 million to be amortized to interest expense over the life of the underlying debt.</div><div style="margin-top:9pt">We have available credit facilities with domestic and foreign banks for various purposes. Some of these lines are committed lines and others are uncommitted lines and could be withdrawn at various times.</div><div style="margin-top:9pt">In May 2025, we entered into a five-year $2.0 billion revolving credit facility which will expire in May 2030. The current pricing for the five-year credit facility, on a fully drawn basis, is Term Secured Overnight Financing Rate (SOFR) plus 1.125%. The pricing of the revolving credit facility is based on a credit rating grid that contains a fully drawn maximum pricing of the credit facility equal to Term SOFR plus 1.50%. Upon entering into the May 2025 five-year $2.0 billion revolving credit facility, we simultaneously cancelled our existing five-year $1.5 billion revolving credit facility which was set to expire in June 2026 and the 364-day $500 million revolving credit facility which was set to expire in August 2025. We previously maintained a 364-day $500 million revolving credit facility that was entered into in June 2023 and expired in June 2024. In the second quarter of 2023, we amended our five-year revolving credit facility expiring in June 2026 to no longer use LIBOR. The pricing for the five-year credit facility, on a fully drawn basis, was Term SOFR plus 1.25% (previously LIBOR plus 1.25%). The pricing of that credit facility was based on a credit rating grid that contains a fully drawn maximum pricing of the credit facility equal to Term SOFR plus 1.75% (previously LIBOR plus 1.75%). The pricing for the 364-day credit facility, on a fully drawn basis, was Term SOFR plus 1.23%. The pricing of that 364-day credit facility was also based on a credit rating grid that contained a fully drawn maximum pricing of Term SOFR plus 1.60%. These credit facilities require a fee, and commitment fees were $2.2 million, $2.3 million and $2.4 million for 2025, 2024, and 2023, respectively. </div><div style="margin-top:9pt">Our revolving credit facilities support our commercial paper program and, after $351.8 million was used to support issued commercial paper, we have $1,648.2 million of capacity at November 30, 2025. The provisions of our revolving credit facilities restrict subsidiary indebtedness and require us to maintain a minimum interest coverage ratio. As of November 30, 2025, our capacity under our revolving credit facility was not affected by these covenants. We do not expect that these covenants would limit our access to our revolving credit facility for the foreseeable future. </div><div style="margin-top:9pt">In addition, we have several uncommitted lines totaling $346.9 million, which have a total unused capacity at November 30, 2025 of $346.9 million. These lines, by their nature, can be withdrawn based on the lenders’ discretion. </div><div style="margin-top:9pt">In January 2026, we entered into a 364-day $500 million revolving credit facility, which will expire in January 2027. The current pricing for the 364-day credit facility, on a fully drawn basis, is Term SOFR plus 1.125%. 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 Term SOFR plus 1.50%. </div><div> </div><div>We maintain a nonrecourse accounts receivable sale program whereby certain eligible U.S. receivables are sold to third party financial institution in exchange for cash. The program provides us with an additional means for managing liquidity. We account for the transfer of receivables as a sale at the point control is transferred and remove the sold receivables from our consolidated balance sheet. The proceeds from the sales of receivables are included in cash from operating activities in the consolidated cash flow statement. The outstanding amount of receivables sold under this program were approximately $430.0 million and $106.9 million as of November 30, 2025 and 2024, respectively. As collecting agent on the sold receivables, we had $45.4 million and $9.6 million of cash collected that was not yet remitted to the third party financial institution as of November 30, 2025 and 2024, respectively. This obligation is reported within other accrued liabilities on the consolidated balance sheet and within </div><div>cash flows from financing activities on the consolidated cash flow statement. The incremental costs of factoring receivables under this arrangement were insignificant in 2025, 2024, and 2023. </div>As of November 30, 2025 and 2024, we had outstanding letters of credit of $64.2 million and $61.5 million, respectively. These letters of credit typically act as a guarantee of payment to certain third parties in accordance with specified terms and conditions. At November 30, 2025, we had no other outstanding guarantees. The unused portion of our letter of credit facility was $13.8 million at November 30, 2025.

<div style="margin-top:5pt">Our outstanding debt, including finance leases, was as follows at November 30:</div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:76.319%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.190%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.191%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">(millions)</td><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Short-term borrowings</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"> </td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"> </td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Commercial paper</td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">351.8 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">431.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Other</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">29.6 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">51.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"> </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">381.4 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">483.1 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Weighted-average interest rate of short-term borrowings at year-end</td><td colspan="2" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4.1 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4.7 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td></tr><tr style="height:12pt"><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Long-term debt</td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:4.5pt">3.25% notes due 11/15/2025</div></td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">250.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:4.5pt">0.90% notes due 2/15/2026 </div></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">500.0 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">500.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:4.5pt">3.40% notes due 8/15/2027(1)</div></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">750.0 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">750.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:4.5pt">2.50% notes due 4/15/2030(2)</div></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">500.0 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">500.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:4.5pt">1.85% notes due 2/15/2031</div></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">500.0 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">500.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:4.5pt">4.95% notes due 4/15/2033(3)</div></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">500.0 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">500.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:4.5pt">4.70% notes due 10/15/2034(4)</div></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">500.0 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">500.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:4.5pt">4.20% notes due 8/15/2047</div></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">300.0 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">300.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 5.5pt;text-align:left;vertical-align:top">Other, including finance leases</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">104.7 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">119.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div>Unamortized discounts, premiums, debt issuance costs and fair value adjustments(5)</div></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(39.8)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(61.0)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="2" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3,614.9 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3,858.8 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Less current portion</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">509.1 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">265.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top"> </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">3,105.8 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">3,593.6 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="padding-left:15.75pt"> </div><div style="padding-left:15.75pt;text-indent:-18pt">(1)Interest rate swaps, settled upon the issuance of these notes, effectively set the interest rate on the $750 million notes at a weighted-average fixed rate of 3.44%. Separately, the fixed interest rate on $250 million of the 3.40% notes due in 2027 is effectively converted to a variable rate by interest rate swaps through 2027. Net interest payments are based on USD SOFR plus 0.907% (previously U.S. three-month LIBOR plus 0.685%) with an effective rate of 4.98% as of November 30, 2025.</div><div style="padding-left:15.75pt;text-indent:-18pt">(2)Interest rate swaps, settled upon the issuance of these notes, effectively set the interest rate on the $500 million notes at a weighted-average fixed rate of 2.62%. Separately, the fixed interest rate on $250 million of the 2.50% notes due in 2030 is effectively converted to a variable rate by interest rate swaps through 2030. Net interest payments are based on USD SOFR plus 0.684% with an effective rate of 4.53% as of November 30, 2025.</div><div style="padding-left:15.75pt;text-indent:-18pt">(3)Treasury lock agreements, settled upon issuance of these notes, effectively set the interest rate on these $500 million notes at a weighted-average fixed rate of 5.00%. </div><div style="padding-left:15.75pt;text-indent:-18pt">(4)Treasury lock agreements, settled upon issuance of these notes, effectively set the interest rate on these $500 million notes at a weighted-average fixed rate of 4.68%. </div><div style="padding-left:15.75pt;text-indent:-18pt">(5)Includes unamortized discounts, premiums, and debt issuance costs of $(21.1) million and $(26.0) million as of November 30, 2025 and 2024, respectively. Includes fair value adjustment associated with interest rate swaps designated as fair value hedges of $(18.7) million and $(35.0) million as of November 30, 2025 and 2024, respectively.</div>

351800000

431300000

29600000

51800000

381400000

483100000

0.041

0.047

0.0325

250000000.0

0.0090

500000000.0

0.0340

750000000.0

0.0250

500000000.0

0.0185

500000000.0

0.0495

500000000.0

0.0470

500000000.0

0.0420

300000000.0

104700000

119800000

-39800000

-61000000.0

3614900000

3858800000

509100000

265200000

3105800000

3593600000

750000000

0.0344

250000000

0.0340

0.00907 0.00685

0.0498

500000000

0.0262

250000000

0.0250

0.00684

0.0453

500000000

0.0500

500000000

0.0468

21100000

26000000.0

-18700000

-35000000.0

<div style="margin-top:9pt">Maturities of long-term debt, including finance leases, during the fiscal years subsequent to November 30, 2025 are as follows (in millions):<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:89.529%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.271%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">2026</td><td style="border-top:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:2pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">509.1 </td><td style="border-top:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">2027</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">759.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">2028</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">10.4 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">2029</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">20.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">2030</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">511.6 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Thereafter</td><td colspan="2" style="border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,843.1 </td><td style="border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

509100000

759800000

10400000

20700000

511600000

1843100000

500000000

0.0470

150000000

900000

P5Y

2000000000

P5Y

0.01125

0.0150

P5Y

2000000000

P5Y

1500000000

P364D

500000000

P364D

500000000

P5Y

0.0125

0.0175

P364D

0.0123

P364D

0.0160

2200000

2300000

2400000

351800000

1648200000

346900000

P364D

500000000

P364D

0.01125

0.0150

430000000 106900000 45400000 9600000

64200000

61500000

13800000

LEASES<div style="margin-top:5pt">Our lease portfolio primarily consists of (i) certain real estate, including those related to a number of administrative, distribution and manufacturing locations; (ii) certain machinery and equipment, including forklifts; and (iii) automobiles, delivery trucks and other vehicles. A limited number of our lease agreements include rental payments that are adjusted periodically based on a market rate or index. Our lease agreements generally do not contain residual value guarantees or material restrictive covenants, with the exception of the non-cancellable synthetic lease discussed below. </div><div style="margin-top:9pt">The following presents the components of our lease expense for the years ended November 30 (in millions):</div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:89.766%"><tr><td style="width:1.0%"></td><td style="width:33.264%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:20.561%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:20.886%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:20.889%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2023</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">Operating lease cost</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">77.0 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">75.7 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">74.6 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Finance lease cost:</td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom">Amortization of ROU assets</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">9.1 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">9.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">9.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom">Interest on lease liabilities</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3.4 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Net lease cost (1)</div></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">89.5 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">88.4 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">87.5 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:9pt"><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom">(1) Net lease cost does not include short-term leases or sublease income, both of which are immaterial.</td></tr></table></div><div> </div><div>Supplemental balance sheet information related to leases as of November 30 were as follows (in millions):</div><div style="margin-bottom:3pt;margin-top:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:95.029%"><tr><td style="width:1.0%"></td><td style="width:27.053%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.876%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:29.053%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:19.207%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:19.211%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:middle">Leases</td><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Classification</td><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Assets:</td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom">Operating lease ROU assets</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Other long-term assets</td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">216.8 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">211.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom">Finance lease ROU assets</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Property, plant and equipment, net</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">77.5 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">86.1 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">Total leased assets</td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">294.3 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">297.1 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Liabilities:</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom">Current</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom">Operating </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Other accrued liabilities </td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">58.9 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">55.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom">Finance</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Current portion of long-term debt</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">9.3 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">8.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Non-current</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom">Operating </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Other long-term liabilities</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">167.7 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">166.6 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom">Finance</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Long-term debt</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">85.7 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">94.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">Total lease liabilities</td><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:0 1pt"></td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">321.6 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">325.6 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:9pt">In October 2020, we entered into a non-cancellable synthetic lease to consolidate, as well as expand, our distribution footprint in the mid-Atlantic region. We began to utilize this facility in September 2022. The five-year lease term will expire in November 2027. As of November 30, 2025, the total ROU asset associated with this facility was $34.5 million with a related lease obligation of $35.6 million, of which $17.5 million was included in the other accrued liabilities and $18.1 million was included in other long-term liabilities. As of November 30, 2024, the total ROU asset associated with this building was $50.6 million with a related lease obligation of $52.5 million, of which $16.9 million was included in other accrued liabilities and $35.6 million was included in other long-term liabilities. Rental payments include both a fixed and a variable component. The variable component is based on SOFR plus a margin, based on our credit rating. During the years ended November 30, 2025, 2024, and 2023, we recognized $25.1 million, $28.8 million, and $27.9 million, respectively, of rent expense related to the leased asset. The lease </div><div style="margin-top:9pt">contains options to negotiate a renewal of the lease or to purchase or request the lessor to sell the facility at the end of the lease term. The lease arrangement contains a residual value guarantee of 76.5% of the lessor’s total construction cost, which approximated $310 million. We do not believe it is probable that any material amounts will be owed under these guarantees. Therefore, no amounts related to the residual value guarantees are included in the lease payments used to measure the right-of-use assets and lease liabilities. The lease also contains covenants that are consistent with our revolving credit facility, as disclosed in Note 5.</div><div style="margin-top:9pt">Our Corporate functions, Americas' leadership, and U.S. staff operate out of our Hunt Valley, Maryland headquarters office building. The 15-year lease for that building began in April 2019 and is recognized as a finance lease. During each of the years ended November 30, 2025, 2024, and 2023, we recognized amortization expense of $8.7 million related to the leased asset. As of November 30, 2025, the total lease obligation associated with this building was $92.4 million, of which $9.0 million was included in the current portion of long-term debt and $83.4 million was included in long-term debt. As of November 30, 2024, the total lease obligation was $100.9 million, of which $8.5 million was included in the current portion of long-term debt and $92.4 million was included in long-term debt. </div><div style="margin-top:9pt">Information regarding our lease terms and discount rates as of November 30 were as follows:</div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:92.105%"><tr><td style="width:1.0%"></td><td style="width:22.868%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.788%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.947%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.947%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.950%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="6" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2025</td><td colspan="6" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2024</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">Weighted-average remaining lease term (years)</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">Weighted-average discount rate</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">Weighted-average remaining lease term (years)</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">Weighted-average discount rate</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Operating leases</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:right;vertical-align:bottom">5.5</td><td colspan="2" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4.2 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:right;vertical-align:bottom">5.2</td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3.9 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">Finance leases</td><td colspan="3" style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;padding:2px 1pt;text-align:right;vertical-align:bottom">9.3</td><td colspan="2" style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3.5 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="3" style="border-bottom:2pt solid #00539b;padding:2px 1pt;text-align:right;vertical-align:bottom">10.2</td><td colspan="2" style="border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3.4 </td><td style="border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td></tr></table></div><div> </div><div style="margin-bottom:3pt">The future maturity of our lease liabilities as of November 30, 2025 were as follows (in millions):</div><div style="margin-bottom:3pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:87.280%"><tr><td style="width:1.0%"></td><td style="width:44.293%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.320%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.972%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.320%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.972%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.323%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Operating leases</td><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Finance leases</td><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Total</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">2026</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">66.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">12.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">78.7 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">2027</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">62.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">12.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">74.9 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">2028</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">31.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">12.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">44.0 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">2029</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">22.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">12.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">35.6 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">2030</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">18.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">13.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">31.0 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Thereafter</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">52.6 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">56.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">108.8 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">Total lease payments</td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">254.4 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">118.6 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="2" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">373.0 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Less: Imputed interest</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">27.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">23.6 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">51.4 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom">Total lease liabilities</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">226.6 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:0 1pt"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">95.0 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:0 1pt"></td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">321.6 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div> </div><div>Supplemental cash flow and other information related to leases for the years ended November 30 were as follows (in millions):</div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:49.777%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.274%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.274%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.275%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2023</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:middle">Cash paid for amounts included in the measurements of lease liabilities:</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom">Operating cash flows used for operating leases</td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">68.3 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">66.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">64.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom">Operating cash flows used for finance leases</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3.4 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom">Financing cash flows used for finance leases</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">8.4 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">8.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">7.6 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">ROU assets obtained in exchange for lease liabilities </td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom">Operating leases</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">60.0 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">47.6 </td><td style="border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">52.1 </td><td style="border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

<div style="margin-top:9pt">The following presents the components of our lease expense for the years ended November 30 (in millions):</div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:89.766%"><tr><td style="width:1.0%"></td><td style="width:33.264%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:20.561%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:20.886%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:20.889%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2023</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">Operating lease cost</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">77.0 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">75.7 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">74.6 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Finance lease cost:</td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom">Amortization of ROU assets</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">9.1 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">9.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">9.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom">Interest on lease liabilities</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3.4 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Net lease cost (1)</div></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">89.5 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">88.4 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">87.5 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:9pt"><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom">(1) Net lease cost does not include short-term leases or sublease income, both of which are immaterial.</td></tr></table></div><div>Supplemental cash flow and other information related to leases for the years ended November 30 were as follows (in millions):</div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:49.777%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.274%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.274%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.275%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2023</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:middle">Cash paid for amounts included in the measurements of lease liabilities:</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom">Operating cash flows used for operating leases</td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">68.3 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">66.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">64.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom">Operating cash flows used for finance leases</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3.4 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom">Financing cash flows used for finance leases</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">8.4 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">8.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">7.6 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">ROU assets obtained in exchange for lease liabilities </td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom">Operating leases</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">60.0 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">47.6 </td><td style="border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">52.1 </td><td style="border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

77000000.0

75700000

74600000

9100000

9000000.0

3400000

3700000

3900000

89500000

88400000

87500000

<div>Supplemental balance sheet information related to leases as of November 30 were as follows (in millions):</div><div style="margin-bottom:3pt;margin-top:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:95.029%"><tr><td style="width:1.0%"></td><td style="width:27.053%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.876%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:29.053%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:19.207%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:19.211%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:middle">Leases</td><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Classification</td><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Assets:</td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom">Operating lease ROU assets</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Other long-term assets</td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">216.8 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">211.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom">Finance lease ROU assets</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Property, plant and equipment, net</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">77.5 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">86.1 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">Total leased assets</td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">294.3 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">297.1 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Liabilities:</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom">Current</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom">Operating </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Other accrued liabilities </td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">58.9 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">55.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom">Finance</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Current portion of long-term debt</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">9.3 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">8.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Non-current</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom">Operating </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Other long-term liabilities</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">167.7 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">166.6 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom">Finance</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Long-term debt</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">85.7 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">94.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">Total lease liabilities</td><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:0 1pt"></td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">321.6 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">325.6 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

216800000

211000000.0

77500000

86100000

294300000 297100000

58900000

55700000

9300000

8800000

167700000

166600000

85700000

94500000

321600000 325600000

P5Y

34500000

35600000

17500000

18100000

50600000

52500000

16900000

35600000

25100000

28800000

27900000

0.765 310000000

P15Y

8700000

92400000

9000000

83400000

100900000

8500000

92400000

<div style="margin-top:9pt">Information regarding our lease terms and discount rates as of November 30 were as follows:</div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:92.105%"><tr><td style="width:1.0%"></td><td style="width:22.868%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.788%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.947%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.947%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.950%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="6" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2025</td><td colspan="6" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2024</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">Weighted-average remaining lease term (years)</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">Weighted-average discount rate</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">Weighted-average remaining lease term (years)</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">Weighted-average discount rate</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Operating leases</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:right;vertical-align:bottom">5.5</td><td colspan="2" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4.2 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:right;vertical-align:bottom">5.2</td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3.9 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">Finance leases</td><td colspan="3" style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;padding:2px 1pt;text-align:right;vertical-align:bottom">9.3</td><td colspan="2" style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3.5 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="3" style="border-bottom:2pt solid #00539b;padding:2px 1pt;text-align:right;vertical-align:bottom">10.2</td><td colspan="2" style="border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3.4 </td><td style="border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td></tr></table></div>

P5Y6M

0.042

P5Y2M12D

0.039

P9Y3M18D

0.035

P10Y2M12D

0.034

<div style="margin-bottom:3pt">The future maturity of our lease liabilities as of November 30, 2025 were as follows (in millions):</div><div style="margin-bottom:3pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:87.280%"><tr><td style="width:1.0%"></td><td style="width:44.293%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.320%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.972%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.320%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.972%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.323%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Operating leases</td><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Finance leases</td><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Total</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">2026</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">66.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">12.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">78.7 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">2027</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">62.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">12.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">74.9 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">2028</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">31.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">12.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">44.0 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">2029</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">22.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">12.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">35.6 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">2030</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">18.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">13.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">31.0 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Thereafter</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">52.6 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">56.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">108.8 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">Total lease payments</td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">254.4 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">118.6 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="2" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">373.0 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Less: Imputed interest</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">27.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">23.6 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">51.4 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom">Total lease liabilities</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">226.6 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:0 1pt"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">95.0 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:0 1pt"></td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">321.6 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

66700000

12000000.0

78700000

62700000

12200000

74900000

31500000

12500000

44000000.0

22900000

12700000

35600000

18000000.0

13000000.0

31000000.0

52600000

56200000

108800000

254400000

118600000

373000000.0

27800000

23600000

51400000

226600000

95000000.0

321600000

68300000

66800000

64500000

3400000

3700000

3900000

8400000

8000000.0

7600000

60000000.0

47600000

52100000

FINANCIAL INSTRUMENTS<div style="margin-top:5pt">We use derivative financial instruments to enhance our ability to manage risk, including foreign currency 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 </div><div style="margin-top:5pt">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.</div><div style="margin-top:9pt">Foreign Currency</div><div>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 with highly-rated financial institutions to reduce fluctuations in the long or short currency positions. Forward contracts are generally less than 18 months duration. Currency swap agreements are established in conjunction with the terms of the underlying debt issues. </div><div> </div><div>The following is a summary of the notional amounts of outstanding foreign currency exchange contracts as of November 30, 2025 and 2024:</div><div> </div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:40.420%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:28.139%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:28.141%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:middle">(millions)</td><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"> Fair value hedges</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">877.3 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">818.1 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"> Cash flow hedges</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">140.9 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">216.1 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">Total</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">1,018.2 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">1,034.2 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:9pt">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. Hedge ineffectiveness was not material. All foreign currency exchange contracts outstanding at November 30, 2025 have durations of less than 12 months, including $250.2 million of notional contracts that have durations of less than one month and are used to hedge short-term cash flow funding.</div><div style="margin-top:9pt">Contracts which are designated as hedges of foreign currency denominated assets are considered fair value hedges. These foreign currency exchange contracts 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. 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. 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 income until the hedged item is recognized in cost of goods sold, at which time the net amount deferred in accumulated other comprehensive income is also recognized in cost of goods sold. </div><div style="margin-top:9pt">We also utilize cross currency interest rate swap contracts that are designated as net investment hedges. Any gains or losses on net investment hedges are included in foreign currency translation adjustments in accumulated other comprehensive loss. Net interest accruals excluded from the assessment of hedge effectiveness are included in earnings as interest expense.</div><div style="margin-top:9pt">As of November 30, 2025 and 2024, we had cross currency interest rate swap contracts of (i) $250 million notional value to receive $250 million at USD SOFR plus 0.907% and pay £194.1 million at three-month GBP SONIA plus 0.859% and (ii) £194.1 million notional value to receive £194.1 million at three-month GBP SONIA plus 0.859% and pay €221.8 million at three-month Euro EURIBOR plus 0.808%. These cross-currency interest rate swap contracts expire in August 2027. In conjunction with the phase-out of LIBOR, during 2023 we amended the terms of this cross currency swap such that, effective February 15, 2023, we pay and receive at USD SOFR plus 0.907% (previously USD LIBOR plus 0.685%). </div><div style="margin-top:9pt">As of November 30, 2025 and 2024, we also had cross currency interest rate swap contracts of $250 million notional value to receive $250 million at USD SOFR plus 0.684% and pay £184.1 million at GBP SONIA plus 0.574% and (ii) £184.1 million notional value to receive £184.1 million at GBP SONIA plus 0.574% and pay €219.2 million at Euro ESTR plus 0.667%, both of which expire in April 2030. </div><div style="margin-top:9pt">Interest Rates</div><div>We finance a portion of our operations with both fixed and variable rate debt instruments, primarily commercial paper, notes and bank loans. We utilize interest rate swap agreements to minimize worldwide financing costs and to achieve a desired mix of variable and fixed rate debt.</div><div style="margin-top:9pt">The following is a summary of our outstanding interest rate swaps as of November 30, 2025 and 2024 ($ amounts in millions).</div><div style="margin-top:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:91.374%"><tr><td style="width:1.0%"></td><td style="width:20.660%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.920%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:24.020%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.440%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:24.020%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.920%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:24.020%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="18" style="background-color:#e0e3f1;padding:2px 1pt;text-align:center;vertical-align:bottom">Fair value hedge of changes in fair value of:</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">$250 3.25% notes due 2025</div></td><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">$750 3.40% notes due 2027</div></td><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">$500 2.50% notes due 2030</div></td></tr><tr><td colspan="3" style="border-top:1pt solid #0a2299;padding:2px 1pt;text-align:left;vertical-align:bottom">Notional</td><td colspan="3" style="border-top:1pt solid #0a2299;padding:0 1pt"></td><td style="border-top:1pt solid #0a2299;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #0a2299;padding:2px 0;text-align:right;vertical-align:bottom">100.0 </td><td style="border-top:1pt solid #0a2299;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #0a2299;padding:0 1pt"></td><td style="border-top:1pt solid #0a2299;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #0a2299;padding:2px 0;text-align:right;vertical-align:bottom">250.0 </td><td style="border-top:1pt solid #0a2299;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #0a2299;padding:0 1pt"></td><td style="border-top:1pt solid #0a2299;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #0a2299;padding:2px 0;text-align:right;vertical-align:bottom">250.0 </td><td style="border-top:1pt solid #0a2299;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Receive rate</td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3.25 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3.40 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2.50 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Pay rate</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">SOFR + 1.487%(1)</div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">SOFR + 0.907%(2)</div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">SOFR + 0.684%</div></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">Expiration</td><td colspan="3" style="border-bottom:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">November 2025</td><td colspan="3" style="border-bottom:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">August 2027</td><td colspan="3" style="border-bottom:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">April 2030</td></tr></table></div><div style="margin-top:9pt;padding-left:15.75pt;text-indent:-18pt">(1)In 2023, we amended our $100 million interest rate swaps which expired in November 2025 such that, effective February 15, 2023, we paid and received at USD SOFR plus 1.487% (previously U.S. three-month LIBOR plus 1.22%).</div><div style="margin-top:9pt;padding-left:15.75pt;text-indent:-18pt">(2)In 2023, we amended our $250 million interest rate swaps which expire in August 2027 such that, effective February 15, 2023, we paid and received at USD SOFR plus 0.907% (previously U.S. three-month LIBOR plus 0.685%).</div><div style="margin-top:9pt">Any unrealized gain or loss on these swaps was offset by a corresponding increase or decrease in the value of the hedged debt. Hedge ineffectiveness was not material. </div><div style="margin-top:9pt">The following tables disclose the notional amount and fair values of derivative instruments on our consolidated balance sheet:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:22.695%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.600%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.600%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.600%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.600%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.600%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.605%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>As of</div><div>November 30, 2025:</div></td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:bottom">(millions)</td><td colspan="9" style="background-color:#e0e3f1;padding:2px 1pt;text-align:center;vertical-align:bottom">Asset Derivatives</td><td colspan="9" style="background-color:#e0e3f1;padding:2px 1pt;text-align:center;vertical-align:bottom">Liability Derivatives</td></tr><tr><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">Derivatives</td><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Balance sheet location</td><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Notional amount</td><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Fair value</td><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Balance sheet location</td><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Notional amount</td><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Fair value</td></tr><tr><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">Interest rate contracts</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Other current assets/Other long-term assets</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Other accrued liabilities/Other long-term liabilities</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">500.0 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">20.8 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:bottom">Foreign exchange contracts</td><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:center;vertical-align:bottom">Other current assets</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">894.6 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">6.5 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:center;vertical-align:bottom">Other accrued liabilities</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">123.6 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.7 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:bottom">Cross currency contracts</td><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:center;vertical-align:bottom">Other current assets/Other long-term assets</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">500.8 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">8.5 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:center;vertical-align:bottom">Other accrued liabilities/Other long-term liabilities</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">511.1 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">18.1 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Total</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"> </td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"> </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">15.0 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"> </td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"> </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">39.6 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>As of</div><div>November 30, 2024:</div></td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"> </td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"> </td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"> </td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"> </td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"> </td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"> </td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">(millions)</td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Asset Derivatives</td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Liability Derivatives</td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">Derivatives</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Balance sheet location</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Notional amount</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Fair value</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Balance sheet location</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Notional amount</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Fair value</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">Interest rate contracts</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Other current assets/Other long-term assets</td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Other accrued liabilities/Other long-term liabilities</td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">600.0 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">37.9 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Foreign exchange contracts</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Other current assets</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">374.4 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">5.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Other accrued liabilities</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">659.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">12.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Cross currency contracts</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Other current assets/Other long-term assets</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">945.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">36.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Other accrued liabilities/Other long-term liabilities</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Total</td><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"> </td><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"> </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">42.0 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"> </td><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"> </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">50.4 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:9pt">The following tables disclose the impact of derivative instruments on our consolidated income statement, other comprehensive income (OCI), and accumulated other comprehensive income (AOCI) for the years ended November 30, 2025, 2024, and 2023:</div><div style="margin-top:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:47.580%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.536%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.363%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.363%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.658%"></td><td style="width:0.1%"></td></tr><tr><td colspan="15" style="border-bottom:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">Fair value hedges (millions)</td></tr><tr style="height:15pt"><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"> </td><td colspan="3" rowspan="2" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Income statement location</td><td colspan="9" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Expense</td></tr><tr style="height:12pt"><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Derivative</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2025</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2024</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2023</td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Interest rate contracts</td><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Interest expense</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">(14.1)</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">(19.7)</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">(17.7)</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div> <table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:13.102%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.198%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.952%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.513%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.659%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.637%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.659%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.952%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.105%"></td><td style="width:0.1%"></td></tr><tr style="height:24pt"><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"> </td><td colspan="3" rowspan="2" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Income statement location</td><td colspan="9" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Loss recognized in income</td><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" rowspan="2" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Income statement location</td><td colspan="9" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Gain recognized in income</td></tr><tr style="height:12pt"><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Derivative</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2025</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2024</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2023</td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Hedged Item</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2025</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2024</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2023</td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">Foreign exchange contracts</td><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">Other income, net</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">(8.6)</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">(9.0)</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">(16.2)</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">Intercompany loans</td><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">Other income, net</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">7.6 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">4.0 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">15.6 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:25.177%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.681%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.681%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.681%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.936%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.681%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.681%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.682%"></td><td style="width:0.1%"></td></tr><tr><td colspan="24" style="border-bottom:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">Cash flow hedges (millions)</td></tr><tr style="height:24pt"><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"> </td><td colspan="9" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Loss recognized in OCI</td><td colspan="3" rowspan="2" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Income statement location </td><td colspan="9" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Gain (loss) reclassified from AOCI </td></tr><tr style="height:14pt"><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Derivative</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2025</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2024</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2023</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2025</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2024</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2023</td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Interest rate contracts</td><td style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:2pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="border-top:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:2pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">(2.6)</td><td style="border-top:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Interest expense, Other income, net</td><td style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">(0.6)</td><td style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:2pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">(0.6)</td><td style="border-top:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:2pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">0.1 </td><td style="border-top:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Foreign exchange contracts</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(0.1)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(0.7)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Cost of goods sold </td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(0.6)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1.6 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Total</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">(0.1)</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">(3.3)</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"> </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">(1.2)</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">1.0 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">0.3 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:9pt">The amount of gain or loss recognized in income on the ineffective portion of derivative instruments is not material. For all cash flow and settled interest rate fair value hedge derivatives, the net amount of accumulated other comprehensive income expected to be reclassified into income related to these contracts in the next twelve months is a $0.7 million increase to earnings.</div><div style="margin-top:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.198%"><tr><td style="width:1.0%"></td><td style="width:20.328%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.082%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.234%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.234%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.769%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.082%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.234%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.237%"></td><td style="width:0.1%"></td></tr><tr><td colspan="18" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Net investment hedges (millions)</td><td colspan="3" style="border-bottom:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"> </td><td colspan="9" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Gain (loss) recognized in OCI</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Income statement location </td><td colspan="9" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Gain excluded from the assessment of hedge effectiveness</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Derivative</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2025</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2024</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2023</td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2025</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2024</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2023</td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Cross currency contracts</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">(46.6)</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">19.5 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">(18.4)</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">Interest expense </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">10.2 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">9.1 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">11.2 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:9pt">For all net investment hedges, no amounts have been reclassified out of other comprehensive income (loss). The amounts noted in the tables above for OCI do not include any adjustments for the impact of deferred income taxes. </div><div style="margin-top:9pt">Concentrations of Credit Risk</div><div>We are potentially exposed to concentrations of credit risk with trade accounts receivable and financial instruments. The customers of our Consumer segment are predominantly food retailers and food wholesalers. Consolidations in these industries have created larger customers. In addition, competition has increased with the growth in alternative channels including mass merchandisers, dollar stores, warehouse clubs, discount chains and e-commerce. This has caused some customers to be less profitable and increased our exposure to credit risk. We generally have a large and diverse customer base which limits our concentration of credit risk. At November 30, 2025, we did not have amounts due from any single customer that exceed 10% of consolidated trade accounts receivable. Credit markets are volatile and some of our customers and counterparties are highly leveraged. We continue to closely monitor the credit worthiness of our customers and counterparties and generally do not require collateral. We believe that the allowance for doubtful accounts properly recognized trade receivables at realizable value. We consider nonperformance credit risk for other financial instruments to be insignificant.</div>

P18M

<div>The following is a summary of the notional amounts of outstanding foreign currency exchange contracts as of November 30, 2025 and 2024:</div><div> </div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:40.420%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:28.139%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:28.141%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:middle">(millions)</td><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"> Fair value hedges</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">877.3 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">818.1 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"> Cash flow hedges</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">140.9 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">216.1 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">Total</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">1,018.2 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">1,034.2 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

877300000

818100000

140900000

216100000

1018200000

1034200000

P12M

250200000

250000000

0.00907

194100000

0.00859

194100000

0.00859

221800000

0.00808

0.00907

0.00685

250000000

0.00684

184100000

0.00574

184100000

0.00574

219200000

0.00667

<div style="margin-top:9pt">The following is a summary of our outstanding interest rate swaps as of November 30, 2025 and 2024 ($ amounts in millions).</div><div style="margin-top:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:91.374%"><tr><td style="width:1.0%"></td><td style="width:20.660%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.920%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:24.020%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.440%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:24.020%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.920%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:24.020%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="18" style="background-color:#e0e3f1;padding:2px 1pt;text-align:center;vertical-align:bottom">Fair value hedge of changes in fair value of:</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">$250 3.25% notes due 2025</div></td><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">$750 3.40% notes due 2027</div></td><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">$500 2.50% notes due 2030</div></td></tr><tr><td colspan="3" style="border-top:1pt solid #0a2299;padding:2px 1pt;text-align:left;vertical-align:bottom">Notional</td><td colspan="3" style="border-top:1pt solid #0a2299;padding:0 1pt"></td><td style="border-top:1pt solid #0a2299;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #0a2299;padding:2px 0;text-align:right;vertical-align:bottom">100.0 </td><td style="border-top:1pt solid #0a2299;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #0a2299;padding:0 1pt"></td><td style="border-top:1pt solid #0a2299;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #0a2299;padding:2px 0;text-align:right;vertical-align:bottom">250.0 </td><td style="border-top:1pt solid #0a2299;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #0a2299;padding:0 1pt"></td><td style="border-top:1pt solid #0a2299;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #0a2299;padding:2px 0;text-align:right;vertical-align:bottom">250.0 </td><td style="border-top:1pt solid #0a2299;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Receive rate</td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3.25 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3.40 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2.50 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Pay rate</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">SOFR + 1.487%(1)</div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">SOFR + 0.907%(2)</div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">SOFR + 0.684%</div></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">Expiration</td><td colspan="3" style="border-bottom:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">November 2025</td><td colspan="3" style="border-bottom:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">August 2027</td><td colspan="3" style="border-bottom:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">April 2030</td></tr></table></div><div style="margin-top:9pt;padding-left:15.75pt;text-indent:-18pt">(1)In 2023, we amended our $100 million interest rate swaps which expired in November 2025 such that, effective February 15, 2023, we paid and received at USD SOFR plus 1.487% (previously U.S. three-month LIBOR plus 1.22%).</div><div style="margin-top:9pt;padding-left:15.75pt;text-indent:-18pt">(2)In 2023, we amended our $250 million interest rate swaps which expire in August 2027 such that, effective February 15, 2023, we paid and received at USD SOFR plus 0.907% (previously U.S. three-month LIBOR plus 0.685%).</div>

250000000

0.0325

750000000

0.0340

500000000

0.0250

100000000.0 250000000.0 250000000.0

0.0325

0.0340

0.0250

0.01487

0.00907

0.00684

100000000

0.01487

0.0122

250000000

0.00907

0.00685

<div style="margin-top:9pt">The following tables disclose the notional amount and fair values of derivative instruments on our consolidated balance sheet:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:22.695%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.600%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.600%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.600%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.600%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.600%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.605%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>As of</div><div>November 30, 2025:</div></td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:bottom">(millions)</td><td colspan="9" style="background-color:#e0e3f1;padding:2px 1pt;text-align:center;vertical-align:bottom">Asset Derivatives</td><td colspan="9" style="background-color:#e0e3f1;padding:2px 1pt;text-align:center;vertical-align:bottom">Liability Derivatives</td></tr><tr><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">Derivatives</td><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Balance sheet location</td><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Notional amount</td><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Fair value</td><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Balance sheet location</td><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Notional amount</td><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Fair value</td></tr><tr><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">Interest rate contracts</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Other current assets/Other long-term assets</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Other accrued liabilities/Other long-term liabilities</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">500.0 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">20.8 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:bottom">Foreign exchange contracts</td><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:center;vertical-align:bottom">Other current assets</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">894.6 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">6.5 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:center;vertical-align:bottom">Other accrued liabilities</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">123.6 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.7 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:bottom">Cross currency contracts</td><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:center;vertical-align:bottom">Other current assets/Other long-term assets</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">500.8 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">8.5 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:center;vertical-align:bottom">Other accrued liabilities/Other long-term liabilities</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">511.1 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">18.1 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Total</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"> </td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"> </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">15.0 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"> </td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"> </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">39.6 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>As of</div><div>November 30, 2024:</div></td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"> </td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"> </td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"> </td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"> </td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"> </td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"> </td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">(millions)</td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Asset Derivatives</td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Liability Derivatives</td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">Derivatives</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Balance sheet location</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Notional amount</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Fair value</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Balance sheet location</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Notional amount</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Fair value</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">Interest rate contracts</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Other current assets/Other long-term assets</td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Other accrued liabilities/Other long-term liabilities</td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">600.0 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">37.9 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Foreign exchange contracts</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Other current assets</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">374.4 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">5.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Other accrued liabilities</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">659.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">12.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Cross currency contracts</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Other current assets/Other long-term assets</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">945.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">36.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Other accrued liabilities/Other long-term liabilities</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Total</td><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"> </td><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"> </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">42.0 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"> </td><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"> </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">50.4 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

500000000.0

20800000

894600000

6500000

123600000

700000

500800000

8500000

511100000

18100000

15000000.0

39600000

600000000.0

37900000

374400000

5200000

659800000

12500000

945500000

36800000

42000000.0

50400000

<div style="margin-top:9pt">The following tables disclose the impact of derivative instruments on our consolidated income statement, other comprehensive income (OCI), and accumulated other comprehensive income (AOCI) for the years ended November 30, 2025, 2024, and 2023:</div><div style="margin-top:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:47.580%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.536%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.363%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.363%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.658%"></td><td style="width:0.1%"></td></tr><tr><td colspan="15" style="border-bottom:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">Fair value hedges (millions)</td></tr><tr style="height:15pt"><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"> </td><td colspan="3" rowspan="2" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Income statement location</td><td colspan="9" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Expense</td></tr><tr style="height:12pt"><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Derivative</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2025</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2024</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2023</td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Interest rate contracts</td><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Interest expense</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">(14.1)</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">(19.7)</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">(17.7)</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div> <table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:13.102%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.198%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.952%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.513%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.659%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.637%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.659%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.952%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.105%"></td><td style="width:0.1%"></td></tr><tr style="height:24pt"><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"> </td><td colspan="3" rowspan="2" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Income statement location</td><td colspan="9" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Loss recognized in income</td><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" rowspan="2" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Income statement location</td><td colspan="9" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Gain recognized in income</td></tr><tr style="height:12pt"><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Derivative</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2025</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2024</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2023</td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Hedged Item</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2025</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2024</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2023</td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">Foreign exchange contracts</td><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">Other income, net</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">(8.6)</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">(9.0)</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">(16.2)</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">Intercompany loans</td><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">Other income, net</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">7.6 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">4.0 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">15.6 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:25.177%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.681%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.681%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.681%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.936%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.681%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.681%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.682%"></td><td style="width:0.1%"></td></tr><tr><td colspan="24" style="border-bottom:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">Cash flow hedges (millions)</td></tr><tr style="height:24pt"><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"> </td><td colspan="9" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Loss recognized in OCI</td><td colspan="3" rowspan="2" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Income statement location </td><td colspan="9" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Gain (loss) reclassified from AOCI </td></tr><tr style="height:14pt"><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Derivative</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2025</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2024</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2023</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2025</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2024</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2023</td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Interest rate contracts</td><td style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:2pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="border-top:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:2pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">(2.6)</td><td style="border-top:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Interest expense, Other income, net</td><td style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">(0.6)</td><td style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:2pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">(0.6)</td><td style="border-top:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:2pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">0.1 </td><td style="border-top:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Foreign exchange contracts</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(0.1)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(0.7)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Cost of goods sold </td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(0.6)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1.6 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Total</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">(0.1)</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">(3.3)</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"> </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">(1.2)</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">1.0 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">0.3 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

-14100000

-19700000

-17700000

-8600000

-9000000.0

-16200000

7600000

4000000.0

15600000

-2600000

-600000

100000

-100000

-700000

-600000

1600000

200000

-100000

-3300000

-1200000

1000000.0

300000

700000

<div style="margin-top:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.198%"><tr><td style="width:1.0%"></td><td style="width:20.328%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.082%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.234%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.234%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.769%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.082%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.234%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.237%"></td><td style="width:0.1%"></td></tr><tr><td colspan="18" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Net investment hedges (millions)</td><td colspan="3" style="border-bottom:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"> </td><td colspan="9" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Gain (loss) recognized in OCI</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Income statement location </td><td colspan="9" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Gain excluded from the assessment of hedge effectiveness</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Derivative</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2025</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2024</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2023</td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2025</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2024</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2023</td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Cross currency contracts</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">(46.6)</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">19.5 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">(18.4)</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">Interest expense </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">10.2 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">9.1 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">11.2 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

-46600000

19500000

-18400000

10200000

9100000

11200000

0.10

FAIR VALUE MEASUREMENTS<div style="margin-top:5pt">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:</div><div> </div><div style="padding-left:15.75pt;text-indent:-18pt">•Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities.</div><div style="padding-left:15.75pt;text-indent:-18pt">•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.</div><div style="padding-left:15.75pt;text-indent:-18pt">•Level 3: Unobservable inputs that reflect management’s own assumptions.</div><div style="margin-top:9pt">Our population of assets and liabilities subject to fair value measurements on a recurring basis are as follows:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:86.988%"><tr><td style="width:1.0%"></td><td style="width:54.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.689%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.689%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.692%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:middle"> </td><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:bottom"> </td><td colspan="6" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center">Fair value measurements using fair</div><div style="text-align:center">value hierarchy as of </div><div style="text-align:center">November 30, 2025</div></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:bottom">(millions)</td><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:center;vertical-align:bottom">Fair value</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Level 1</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Level 2</td></tr><tr><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Assets:</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Cash and cash equivalents</td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">95.9 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">95.9 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Insurance contracts</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">131.0 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">131.0 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Bonds and money market fund</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1.9 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1.9 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Foreign currency derivatives</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">6.5 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">6.5 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Cross currency contracts</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">8.5 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">8.5 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top">Total</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">243.8 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">97.8 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">146.0 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Liabilities:</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Interest rate derivatives</td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">20.8 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">20.8 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Foreign currency derivatives</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.7 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.7 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Cross currency contracts</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">18.1 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">18.1 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top">Total</td><td style="background-color:#e0e3f1;border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">39.6 </td><td style="background-color:#e0e3f1;border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">39.6 </td><td style="background-color:#e0e3f1;border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:86.988%"><tr><td style="width:1.0%"></td><td style="width:54.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.689%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.689%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.692%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"> </td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"> </td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center">Fair value measurements using fair</div><div style="text-align:center">value hierarchy as of </div><div style="text-align:center">November 30, 2024</div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">(millions)</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Fair value</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Level 1</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Level 2</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Assets:</td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Cash and cash equivalents</td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">186.1 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">186.1 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Insurance contracts</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">129.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">129.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Bonds and money market fund</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Foreign currency derivatives</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">5.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">5.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Cross currency contracts</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">36.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">36.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top">Total</td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">358.6 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">187.4 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">171.2 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Liabilities:</td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Interest rate derivatives</td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">37.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">37.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Foreign currency derivatives</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">12.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">12.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top">Total</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">50.4 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">50.4 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:9pt">At November 30, 2025 and 2024, we had no financial assets or liabilities that were subject to a level 3 fair value measurement.</div><div style="margin-top:9pt">At November 30, 2025 and 2024, the carrying amount of interest rate derivatives, foreign currency derivatives, cross currency contracts, insurance contracts, and bonds and money market fund investments are equal to their respective fair values. Because of their short-term nature, the amounts reported in the balance sheet for cash and cash equivalents, receivables, short-term borrowings, and trade accounts payable approximate fair value. Investments in affiliates are not readily marketable, and it is not practicable to estimate their fair value. </div><div style="margin-top:9pt">Insurance contracts, bonds, and money market fund investments are comprised of fixed income and equity securities held for certain non-qualified U.S. employee benefit plans and are stated at fair value on the balance sheet. The fair values of insurance contracts and bonds and money market fund investments 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 for interest rate derivatives, foreign currency derivatives, and cross currency contracts are based on values for similar instruments using models with market-based inputs. </div><div style="margin-top:9pt">The carrying amount and fair value of long-term debt, including the current portion, as of November 30 were as follows:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:54.178%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.043%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.043%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.043%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.193%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"> (millions)</td><td colspan="6" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2025</td><td colspan="6" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2024</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Carrying amount</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Fair value</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Carrying amount</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Fair value</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Long-term debt (including current portion)</td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">3,614.9 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">3,505.9 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">3,858.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">3,677.1 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Level 1 valuation techniques</td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3,401.1 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3,557.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Level 2 valuation techniques</td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">104.8 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">119.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div>The fair value for Level 2 long-term debt is determined by using quoted prices for similar debt instruments.

<div style="margin-top:9pt">Our population of assets and liabilities subject to fair value measurements on a recurring basis are as follows:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:86.988%"><tr><td style="width:1.0%"></td><td style="width:54.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.689%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.689%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.692%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:middle"> </td><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:bottom"> </td><td colspan="6" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center">Fair value measurements using fair</div><div style="text-align:center">value hierarchy as of </div><div style="text-align:center">November 30, 2025</div></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:bottom">(millions)</td><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:center;vertical-align:bottom">Fair value</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Level 1</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Level 2</td></tr><tr><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Assets:</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Cash and cash equivalents</td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">95.9 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">95.9 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Insurance contracts</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">131.0 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">131.0 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Bonds and money market fund</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1.9 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1.9 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Foreign currency derivatives</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">6.5 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">6.5 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Cross currency contracts</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">8.5 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">8.5 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top">Total</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">243.8 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">97.8 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">146.0 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Liabilities:</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Interest rate derivatives</td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">20.8 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">20.8 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Foreign currency derivatives</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.7 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.7 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Cross currency contracts</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">18.1 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">18.1 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top">Total</td><td style="background-color:#e0e3f1;border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">39.6 </td><td style="background-color:#e0e3f1;border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">39.6 </td><td style="background-color:#e0e3f1;border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:86.988%"><tr><td style="width:1.0%"></td><td style="width:54.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.689%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.689%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.692%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"> </td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"> </td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center">Fair value measurements using fair</div><div style="text-align:center">value hierarchy as of </div><div style="text-align:center">November 30, 2024</div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">(millions)</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Fair value</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Level 1</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Level 2</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Assets:</td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Cash and cash equivalents</td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">186.1 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">186.1 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Insurance contracts</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">129.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">129.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Bonds and money market fund</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Foreign currency derivatives</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">5.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">5.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Cross currency contracts</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">36.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">36.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top">Total</td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">358.6 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">187.4 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">171.2 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Liabilities:</td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Interest rate derivatives</td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">37.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">37.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Foreign currency derivatives</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">12.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">12.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top">Total</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">50.4 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">50.4 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

95900000

131000000.0

1900000

6500000

8500000 0 8500000

243800000

97800000

146000000.0

20800000

700000

18100000 0 18100000

39600000

186100000

129200000

1300000

5200000

36800000 0 36800000

358600000

187400000

171200000

37900000

12500000

50400000

<div style="margin-top:9pt">The carrying amount and fair value of long-term debt, including the current portion, as of November 30 were as follows:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:54.178%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.043%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.043%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.043%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.193%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"> (millions)</td><td colspan="6" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2025</td><td colspan="6" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2024</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Carrying amount</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Fair value</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Carrying amount</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Fair value</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Long-term debt (including current portion)</td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">3,614.9 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">3,505.9 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">3,858.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">3,677.1 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Level 1 valuation techniques</td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3,401.1 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3,557.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Level 2 valuation techniques</td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">104.8 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">119.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

3614900000

3505900000

3858800000

3677100000

3401100000

3557300000

104800000

119800000

ACCUMULATED OTHER COMPREHENSIVE LOSS<div style="margin-top:5pt">The following table sets forth the components of accumulated other comprehensive loss, net of tax where applicable, as of November 30 (in millions):<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.415%"><tr><td style="width:1.0%"></td><td style="width:68.164%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.194%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.342%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Accumulated other comprehensive loss, net of tax where applicable</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.25pt">Foreign currency translation adjustment (1)</div></td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">(269.9)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">(392.0)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom">Unrealized net (loss) gain on foreign currency exchange contracts</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(3.2)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2.1 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom">Unamortized value of settled interest rate swaps</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(1.1)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(1.6)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom">Pension and other postretirement costs</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(88.9)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(99.7)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top"> </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">(363.1)</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">(491.2)</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="padding-left:15.75pt;text-indent:-18pt">(1)During the year ended November 30, 2025, the foreign currency translation adjustment of accumulated other comprehensive loss decreased on a net basis by $122.1 million, inclusive of $46.6 million of unrealized losses associated with net investment hedges. During the year ended November 30, 2024, the foreign currency translation adjustment of accumulated other comprehensive loss increased on a net basis by $86.3 million, inclusive of $19.5 million of unrealized gains associated with net investment hedges. These net investment hedges are more fully described in Note 7.</div><div style="margin-top:9pt">The following table sets forth the amounts reclassified from accumulated other comprehensive income (loss) and into consolidated net income for the years ended November 30:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:97.368%"><tr><td style="width:1.0%"></td><td style="width:46.497%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.550%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.659%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.550%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.110%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.550%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.659%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.550%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.758%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.717%"></td><td style="width:0.1%"></td></tr><tr style="height:11pt"><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">(millions)</td><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="6" rowspan="2" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Affected line items in the consolidated income statement</td></tr><tr style="height:21pt"><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Accumulated other comprehensive income (loss) components</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">2023</td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom">(Gains)/losses on cash flow hedges:</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom">Interest rate derivatives</td><td colspan="3" style="padding:0 1pt"></td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">0.6 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">0.6 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">(0.1)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Interest expense</td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom">Foreign exchange contracts</td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.6 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(1.6)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(0.2)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Cost of goods sold</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">Total before taxes</td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1.2 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(1.0)</td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(0.3)</td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">Tax effect</td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(0.3)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.1 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Income taxes</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">Net, after tax</td><td colspan="3" style="padding:0 1pt"></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">0.9 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">(0.8)</td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">(0.2)</td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Amortization of pension and postretirement benefit adjustments:</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:18pt">Amortization of prior service costs (1)</div></td><td colspan="3" style="padding:0 1pt"></td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">0.4 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">0.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">0.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Other income, net</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:18pt">Amortization of net actuarial gains(1)</div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(1.6)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(3.4)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(2.1)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Other income, net</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">Total before taxes</td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(1.2)</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(3.1)</td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(1.8)</td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">Tax effect</td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.3 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.4 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Income taxes</td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:right;vertical-align:top">Net, after tax</td><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:0 1pt"></td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">(0.9)</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:2pt solid #00539b;padding:0 1pt"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">(2.3)</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:0 1pt"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">(1.4)</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt solid #00539b;padding:0 1pt"></td></tr></table></div><div> </div><div style="padding-left:18pt;text-indent:-18pt"> (1) This accumulated other comprehensive income (loss) component is included in the computation of total pension expense and total other postretirement expense (refer to Note 10 for additional details).</div>

<div style="margin-top:5pt">The following table sets forth the components of accumulated other comprehensive loss, net of tax where applicable, as of November 30 (in millions):<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.415%"><tr><td style="width:1.0%"></td><td style="width:68.164%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.194%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.342%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Accumulated other comprehensive loss, net of tax where applicable</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.25pt">Foreign currency translation adjustment (1)</div></td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">(269.9)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">(392.0)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom">Unrealized net (loss) gain on foreign currency exchange contracts</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(3.2)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2.1 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom">Unamortized value of settled interest rate swaps</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(1.1)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(1.6)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom">Pension and other postretirement costs</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(88.9)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(99.7)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top"> </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">(363.1)</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">(491.2)</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="padding-left:15.75pt;text-indent:-18pt">(1)During the year ended November 30, 2025, the foreign currency translation adjustment of accumulated other comprehensive loss decreased on a net basis by $122.1 million, inclusive of $46.6 million of unrealized losses associated with net investment hedges. During the year ended November 30, 2024, the foreign currency translation adjustment of accumulated other comprehensive loss increased on a net basis by $86.3 million, inclusive of $19.5 million of unrealized gains associated with net investment hedges. These net investment hedges are more fully described in Note 7.</div>

-269900000

-392000000.0

-3200000 2100000

1100000

1600000

88900000

99700000

-363100000

-491200000

122100000

-46600000

86300000

19500000

<div style="margin-top:9pt">The following table sets forth the amounts reclassified from accumulated other comprehensive income (loss) and into consolidated net income for the years ended November 30:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:97.368%"><tr><td style="width:1.0%"></td><td style="width:46.497%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.550%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.659%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.550%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.110%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.550%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.659%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.550%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.758%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.717%"></td><td style="width:0.1%"></td></tr><tr style="height:11pt"><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">(millions)</td><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="6" rowspan="2" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Affected line items in the consolidated income statement</td></tr><tr style="height:21pt"><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Accumulated other comprehensive income (loss) components</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">2023</td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom">(Gains)/losses on cash flow hedges:</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom">Interest rate derivatives</td><td colspan="3" style="padding:0 1pt"></td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">0.6 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">0.6 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">(0.1)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Interest expense</td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom">Foreign exchange contracts</td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.6 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(1.6)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(0.2)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Cost of goods sold</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">Total before taxes</td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1.2 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(1.0)</td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(0.3)</td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">Tax effect</td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(0.3)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.1 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Income taxes</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">Net, after tax</td><td colspan="3" style="padding:0 1pt"></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">0.9 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">(0.8)</td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">(0.2)</td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Amortization of pension and postretirement benefit adjustments:</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:18pt">Amortization of prior service costs (1)</div></td><td colspan="3" style="padding:0 1pt"></td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">0.4 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">0.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">0.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Other income, net</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:18pt">Amortization of net actuarial gains(1)</div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(1.6)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(3.4)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(2.1)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Other income, net</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">Total before taxes</td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(1.2)</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(3.1)</td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(1.8)</td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">Tax effect</td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.3 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.4 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Income taxes</td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:right;vertical-align:top">Net, after tax</td><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:0 1pt"></td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">(0.9)</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:2pt solid #00539b;padding:0 1pt"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">(2.3)</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:0 1pt"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">(1.4)</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt solid #00539b;padding:0 1pt"></td></tr></table></div><div> </div><div style="padding-left:18pt;text-indent:-18pt"> (1) This accumulated other comprehensive income (loss) component is included in the computation of total pension expense and total other postretirement expense (refer to Note 10 for additional details).</div>

-600000

100000

600000

-1600000

-200000

1200000

-1000000.0

-300000

200000

100000

900000

-800000

-200000

400000

300000

1600000

3400000

-2100000

1200000

3100000

-1800000

300000

800000

-400000

900000

2300000

-1400000

EMPLOYEE BENEFIT AND RETIREMENT PLANS<div style="margin-top:5pt">We sponsor defined benefit pension plans in the U.S. and certain foreign locations. Additionally, we sponsor defined contribution plans in the U.S. and contribute to defined contribution plans in various locations outside the U.S., including government-sponsored retirement plans. We also provide postretirement medical and life insurance benefits to certain U.S. employees and retirees. We previously 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 generally 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.</div><div style="margin-top:9pt">Included in our consolidated balance sheet as of November 30, 2025 on the line entitled "Accumulated other comprehensive loss" was $111.6 million ($88.9 million net of tax) related to net unrecognized actuarial losses that have not yet been recognized in net periodic pension or postretirement benefit cost. </div><div style="margin-top:9pt">Defined Benefit Pension Plans</div><div>The significant assumptions used to determine benefit obligations are as follows as of November 30:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:51.099%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.776%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.776%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.776%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.073%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"><div> </div></td><td colspan="6" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">United States</td><td colspan="6" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">International</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"><div> </div></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Discount rate—funded plans</td><td colspan="2" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">5.5 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">5.3 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">5.1 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4.7 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Discount rate—unfunded plan</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">5.4 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">5.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Salary scale</td><td colspan="2" style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2.9 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2.9 </td><td style="border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td></tr></table></div><div> </div><div>The significant assumptions used to determine pension expense for the years ended November 30 are as follows:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.561%"><tr><td style="width:1.0%"></td><td style="width:41.924%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.297%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.444%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.444%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.297%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.444%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.450%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"><div> </div></td><td colspan="9" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">United States</td><td colspan="9" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">International</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"><div> </div></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2023</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2023</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Discount rate—funded plans</td><td colspan="2" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">5.3 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">6.0 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">5.4 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4.7 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">5.1 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4.5 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Discount rate—unfunded plan</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">5.3 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">6.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">5.4 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Salary scale</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2.9 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Expected return on plan assets</td><td colspan="2" style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">5.8 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">6.3 </td><td style="border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">6.8 </td><td style="border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4.7 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">5.2 </td><td style="border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4.9 </td><td style="border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td></tr></table></div><div style="margin-top:9pt">Annually, we undertake a process, with the assistance of our external investment consultants, to evaluate the appropriate projected rates of return to use for our pension plans’ assumptions. We engage our investment consultants' research teams to develop capital market assumptions for each asset category in our plans to project investment returns into the future. The specific methods used to develop expected return assumptions vary by asset category. We adjust the outcomes for the fact that plan assets are invested with actively managed funds and subject to tactical asset reallocation.</div><div style="margin-top:9pt">Our pension expense (income) for the years ended November 30 was as follows:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:31.891%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.043%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.043%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.043%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.043%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.043%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.194%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"><div> </div></td><td colspan="9" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">United States</td><td colspan="9" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">International</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">(millions)</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2023</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2023</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Service cost</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">1.6 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">1.5 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">2.0 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">0.7 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">0.6 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">0.6 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Interest costs</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">35.5 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">37.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">36.1 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">10.2 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">10.6 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">9.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Expected return on plan assets</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(37.2)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(39.6)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(42.3)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(14.3)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(16.1)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(15.1)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Amortization of prior service costs</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.5 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.1 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.1 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.1 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Amortization of net actuarial loss (gain)</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1.1 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(0.4)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(0.1)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(0.3)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(0.1)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Total pension expense (income)</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">1.5 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">(0.7)</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">(3.5)</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">(3.4)</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">(5.1)</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">(4.6)</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:9pt">A roll forward of the benefit obligation, fair value of plan assets and a reconciliation of the pension plans’ funded status as of November 30, the measurement date, follows:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:44.061%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.536%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.536%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.536%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.831%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"><div> </div></td><td colspan="6" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">United States</td><td colspan="6" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">International</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">(millions)</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Change in benefit obligation:</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top">Benefit obligation at beginning of year</td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">695.0 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">645.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">216.9 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">214.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 37pt;text-align:left;vertical-align:top">Service cost</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1.6 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.7 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.6 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 37pt;text-align:left;vertical-align:top">Interest costs</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">35.5 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">37.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">10.2 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">10.6 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 37pt;text-align:left;vertical-align:top">Actuarial (gain) loss</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(12.4)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">56.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(9.7)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">7.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 37pt;text-align:left;vertical-align:top">Benefits paid</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(46.4)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(45.4)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(14.2)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(13.5)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 37pt;text-align:left;vertical-align:top">Foreign currency impact</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">7.2 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(2.6)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Benefit obligation at end of year</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">673.3 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">695.0 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">211.1 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">216.9 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Change in fair value of plan assets:</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top">Fair value of plan assets at beginning of year</td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">670.7 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">630.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">272.4 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">267.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 37pt;text-align:left;vertical-align:top">Actual return on plan assets</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">44.1 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">76.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2.3 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">21.1 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 37pt;text-align:left;vertical-align:top">Employer contributions</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">8.3 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">9.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.9 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 37pt;text-align:left;vertical-align:top">Benefits paid</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(46.4)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(45.4)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(14.2)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(13.5)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 37pt;text-align:left;vertical-align:top">Foreign currency impact</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">8.0 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(3.0)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Fair value of plan assets at end of year</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">676.7 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">670.7 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">269.4 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">272.4 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Funded status</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">3.4 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">(24.3)</td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">58.3 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">55.5 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Pension plans in which accumulated benefit obligation exceeded plan assets</td><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 37pt;text-align:left;vertical-align:top">Projected benefit obligation</td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">72.3 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">116.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">15.2 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">14.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 37pt;text-align:left;vertical-align:top">Accumulated benefit obligation</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">72.3 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">113.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">12.7 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">12.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:top">Fair value of plan assets</td><td colspan="2" style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">38.0 </td><td style="border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1.9 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1.8 </td><td style="border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:9pt">The accumulated benefit obligation is the present value of pension benefits (whether vested or unvested) attributed to employee service rendered before the measurement date and based on employee service and compensation prior to that date. The accumulated benefit obligation differs from the projected benefit obligation in that it includes no assumption about future compensation or service levels. The accumulated benefit obligation for the U.S. pension plans was $670.0 million and $692.0 million as of November 30, 2025 and 2024, respectively. The accumulated benefit obligation for the international pension plans was $208.6 million and $214.5 million as of November 30, 2025 and 2024, respectively.</div><div style="margin-top:9pt">Included in the U.S. in the preceding table is a benefit obligation of $72.3 million and $75.1 million for 2025 and 2024, respectively, related to our Supplemental Executive Retirement Plan (SERP). The assets related to this plan, which totaled $69.5 million and $73.1 million as of November 30, 2025 and 2024, respectively, are held in a rabbi trust and accordingly have not been included in the preceding table. </div><div style="margin-top:9pt">Amounts recorded in the balance sheet for all defined benefit pension plans as of November 30 consist of the following:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:41.715%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.122%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.122%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.122%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.419%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"><div> </div></td><td colspan="6" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">United States</td><td colspan="6" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">International </td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">(millions)</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Non-current pension asset</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">75.6 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">54.0 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">71.6 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">68.4 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Accrued pension liability</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">72.2 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">78.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">13.3 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">12.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Deferred income tax assets</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">23.8 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">28.6 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4.5 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Accumulated other comprehensive loss, net of tax</td><td colspan="2" style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">68.7 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">84.8 </td><td style="border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">33.8 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">31.1 </td><td style="border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:9pt">Our defined benefit pension plans investment strategy is subject to the asset/liability profiles of the plans in each individual country. The investment objectives of the defined benefit pension plans are to provide assets to meet the current and future obligations of the plans at a reasonable cost to us. Our goal is to optimize the long-term return on plan assets at a moderate level of risk. The investment policy specifies the type of investment vehicles appropriate for the plans, asset allocation guidelines, criteria for the selection of investment managers, procedures to monitor overall investment performance as well as investment manager performance. Higher-returning assets include mutual, co-mingled and other funds comprised of equity securities, utilizing both active and passive investment styles. These more volatile assets are balanced with less volatile assets, primarily mutual, co-mingled and other funds comprised of fixed income securities. Professional investment firms are engaged to provide advice on the selection and monitoring of investment funds, and to provide advice on the allocation of plan assets across the various fund managers. This advice is based in part on the duration of each plan’s liability.</div><div style="margin-top:9pt">The allocations of U.S. pension plan assets as of November 30, by asset category, were as follows:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:59.457%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.949%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.949%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.245%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"><div> </div></td><td colspan="6" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">Actual</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">Asset Category</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Target</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Equity securities</td><td colspan="2" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">20.3 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">22.1 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">24.2 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Fixed income securities</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">73.1 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">69.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">70.6 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Other</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">6.6 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">8.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">5.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Total</td><td colspan="2" style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">100.0 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">100.0 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">100.0 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td></tr></table></div><div style="margin-top:9pt">The allocations of the international pension plans’ assets as of November 30, by asset category, were as follows:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:59.457%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.949%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.949%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.245%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"><div> </div></td><td colspan="6" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">Actual</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">Asset Category</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Target </td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Equity securities</td><td colspan="2" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">6.6 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">7.9 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">6.2 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Fixed income securities</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">88.3 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">86.4 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">88.4 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Other</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">5.1 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">5.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">5.4 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Total</td><td colspan="2" style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">100.0 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">100.0 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">100.0 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td></tr></table></div><div style="margin-top:9pt">The following tables set forth by level, within the fair value hierarchy as described in Note 8, pension plan assets at their fair value as of November 30 for the United States and international plans:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:87.573%"><tr><td style="width:1.0%"></td><td style="width:58.332%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.422%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.422%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.424%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">As of November 30, 2025</td><td colspan="9" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">United States</td></tr><tr><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">(millions)</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Total fair value</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Level 1</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Level 2</td></tr><tr><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">Cash and cash equivalents</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">4.5 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">4.5 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:bottom">Equity securities:</td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:9pt">U.S. equity securities(a)</div></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">81.6 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">81.6 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:9pt">International equity securities(b)</div></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">48.7 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">48.7 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:bottom">Fixed income securities:</td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:9pt">U.S. government/corporate bonds(c)</div></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">439.6 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">439.6 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:9pt">High yield bonds(d)</div></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">42.6 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">42.6 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:9pt">Insurance contracts(f)</div></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1.2 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1.2 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">Total</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">618.2 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">4.5 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">613.7 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Investments measured at net asset value(h)</div></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.25pt">Hedge funds(i)</div></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">18.3 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.25pt">Private equity funds(j)</div></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">7.1 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.25pt">Private debt funds(k)</div></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">10.9 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.25pt">Real estate (l)</div></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">22.2 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Total investments</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">676.7 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:0 1pt"></td></tr></table></div><div> <table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:87.573%"><tr><td style="width:1.0%"></td><td style="width:58.332%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.422%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.422%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.424%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">As of November 30, 2025</td><td colspan="9" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">International</td></tr><tr><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">(millions)</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Total fair value</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Level 1</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Level 2</td></tr><tr><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Cash and cash equivalents</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">4.6 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">4.6 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>International equity securities(b)</div></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">17.8 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">17.8 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:top">Fixed income securities:</td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6pt">International/government/corporate bonds(e)</div></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">223.4 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">223.4 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6pt">Insurance contracts(f)</div></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">14.5 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">14.5 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6pt">Real estate(g)</div></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">9.1 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">9.1 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Total investments</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">269.4 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">4.6 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">264.8 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:87.573%"><tr><td style="width:1.0%"></td><td style="width:58.332%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.422%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.422%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.424%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">As of November 30, 2024</td><td colspan="9" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">United States</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">(millions)</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Total fair value </td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Level 1</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Level 2</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Cash and cash equivalents</td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">4.4 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">4.4 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Equity securities:</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:9pt">U.S. equity securities(a)</div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">81.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">81.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:9pt">International equity securities(b)</div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">50.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">50.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Fixed income securities:</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:9pt">U.S./government/ corporate bonds(c)</div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">417.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">417.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:9pt">High yield bonds(d)</div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">42.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">42.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:9pt">Insurance contracts(f)</div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">Total </td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">597.0 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">4.4 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">592.6 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Investments measured at net asset value(h)</div></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.25pt">Hedge funds(i)</div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">29.6 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.25pt">Private equity funds(j)</div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">16.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom">Private debt funds(k)</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">8.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom">Real estate (l)</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">19.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Total investments</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">670.7 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:0 1pt"></td></tr></table></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:87.573%"><tr><td style="width:1.0%"></td><td style="width:58.332%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.422%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.422%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.424%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">As of November 30, 2024</td><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">International</td><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">(millions)</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Total fair value </td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Level 1</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Level 2</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Cash and cash equivalents</td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">6.4 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">6.4 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div>International equity securities(b)</div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">21.6 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">21.6 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Fixed income securities:</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:9pt">International/government/corporate bonds(e)</div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">220.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">220.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:9pt">Insurance contracts(f)</div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">14.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">14.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom">Real estate (g)</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">9.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">9.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Total investments</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">272.4 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">6.4 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">266.0 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="padding-left:20.25pt;text-indent:-18pt">(a)This category comprises equity funds and collective equity trust funds that most closely track the S&P index and other equity indices.</div><div style="padding-left:20.25pt;text-indent:-18pt">(b)This category comprises international equity funds with varying benchmark indices.</div><div style="padding-left:20.25pt;text-indent:-18pt">(c)This category comprises funds consisting of U.S. government and U.S. corporate bonds and other fixed income securities. An appropriate benchmark is the Barclays Capital Aggregate Bond Index.</div><div style="padding-left:20.25pt;text-indent:-18pt">(d)This category comprises funds consisting of a variety of fixed income securities with varying benchmark indices.</div><div style="padding-left:20.25pt;text-indent:-18pt">(e)This category comprises funds consisting of international government/corporate bonds and other fixed income securities with varying benchmark indices.</div><div style="padding-left:20.25pt;text-indent:-18pt">(f)This category comprises insurance contracts, the majority of which have a guaranteed investment return.</div><div style="padding-left:20.25pt;text-indent:-18pt">(g)This category comprises funds investing in real estate investment trusts (REIT). Appropriate benchmarks are the MSCI REALPAC Canada Property Index International holding.</div><div style="padding-left:20.25pt;text-indent:-18pt">(h)Certain investments that are valued using the net asset value per share (or its equivalent) as a practical expedient have not been classified in the fair value hierarchy. These are included to permit reconciliation of the fair value hierarchy to the aggregate pension plan assets. </div><div style="padding-left:20.25pt;text-indent:-18pt">(i)This category comprises hedge funds investing in strategies represented in various HFRI Fund Indices. The net asset value is generally based on the valuation of the underlying investment. Limitations exist on the timing from notice by the plan of its intent to redeem and actual redemptions of these funds and generally range from a minimum of one month to several months.</div><div style="padding-left:20.25pt;text-indent:-18pt">(j)This category comprises private equity, venture capital and limited partnerships. The net asset is based on valuation models of the underlying securities as determined by the general partner or general partner's designee. These valuation models include unobservable inputs that cannot be corroborated using verifiable observable market data. These funds typically have redemption periods of approximately 10 years. </div><div style="padding-left:20.25pt;text-indent:-18pt">(k)This category comprises limited partnerships funds investing in senior loans, mezzanine and distressed debt. The net asset is based on valuation models of the underlying securities as determined by the general partner or general partner's designee. These valuation models include unobservable inputs that cannot be corroborated using verifiable observable market data. These funds typically have redemption periods of approximately 10 years. </div><div style="padding-left:20.25pt;text-indent:-18pt">(l)This category comprises private real estate funds. The net asset is based on valuation models of the underlying securities as determined by the general partner or general partner's designee. These valuation models include unobservable inputs that cannot be corroborated using verifiable observable market data. These funds have no redemption restrictions. </div><div style="margin-top:9pt">For the plans’ hedge funds, private equity funds and private debt funds, we engage an independent advisor to compare the funds’ returns to other funds with similar strategies. Each fund is required to have an annual audit by an independent accountant, which is provided to the independent advisor. This provides a basis of comparability relative to similar assets.</div><div style="margin-top:9pt">The U.S. pension plans previously held McCormick stock. Dividends paid on these shares were $0.8 million in 2024.</div><div style="margin-top:9pt">Pension benefit payments in our most significant plans are made from assets of the pension plans. It is anticipated that future benefit payments for the U.S. and international plans for the next 10 fiscal years will be as follows:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:65.762%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.468%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.470%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">(millions)</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">United States</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">International</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">2026</td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">51.0 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">13.1 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">2027</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">51.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">13.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">2028</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">52.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">12.4 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">2029</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">52.6 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">13.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">2030</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">52.4 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">14.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">2031-2036</td><td colspan="2" style="border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">256.5 </td><td style="border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">71.9 </td><td style="border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:9pt">U.S. Defined Contribution Retirement Plans</div><div>For our U.S. qualified and non-qualified defined contribution retirement plans, we match 100% of a participant’s contribution up to the first 3% of the participant’s eligible compensation, and 66.7% of the next 3% of the participant’s salary. In addition, we make contributions of 3% of the participant's eligible compensation for all U.S. employees who are employed on December 31 of each year. Our contributions charged to expense under all U.S. defined contribution retirement plans were $34.9 million, $34.7 million and $29.7 million in 2025, 2024, and 2023, respectively.</div><div style="margin-top:9pt">At the participants' election, 401(k) retirement plans held 1.8 million shares of McCormick stock, with a fair value of $122.1 million, at November 30, 2025. Dividends paid on the shares held in the 401(k) retirement plans in 2025 and 2024 were $3.5 million and $3.6 million, respectively.</div><div style="margin-top:9pt">Postretirement Benefits Other Than Pensions</div><div>We currently provide postretirement medical and life insurance benefits to certain U.S. employees who were covered under the active employees’ plan and retire after age 55 with at least five years of service. The subsidy provided under these plans is based primarily on age at date of retirement. These benefits are not pre-funded but paid as incurred. Employees hired after December 31, 2008 are not eligible for a company subsidy. They are eligible for coverage on an access-only basis.</div><div style="margin-top:9pt">Our other postretirement benefit expense for the years ended November 30 follows:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:59.457%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.949%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.949%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.245%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">(millions)</td><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2023</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Service cost</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">0.8 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">0.8 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">1.3 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Interest costs</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2.2 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2.4 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2.6 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Amortization of prior service credits</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(0.2)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(0.3)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(0.3)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Amortization of actuarial gains</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(2.6)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(2.7)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(2.2)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Postretirement benefit expense </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">0.2 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">0.2 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">1.4 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:9pt">Roll forwards of the benefit obligation, fair value of plan assets and a reconciliation of the plans’ funded status at November 30, the measurement date, follow:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:72.800%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.949%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.951%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:middle">(millions)</td><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">Change in benefit obligation:</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Benefit obligation at beginning of year</td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">45.0 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">47.1 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom">Service cost</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.8 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom">Interest costs</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2.2 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2.4 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom">Participant contributions</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2.6 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom">Actuarial gain</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(0.9)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(1.1)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom">Benefits paid</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(6.3)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(7.0)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Benefit obligation at end of year</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">43.4 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">45.0 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">Change in fair value of plan assets:</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:9pt">Fair value of plan assets at beginning of year</div></td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom">Employer contributions</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3.7 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom">Participant contributions</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2.6 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom">Benefits paid</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(6.3)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(7.0)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Fair value of plan assets at end of year</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Other postretirement benefit liability</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">43.4 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">45.0 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:9pt">Estimated future benefit payments (net of employee contributions) for the next 10 fiscal years are as follows:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:58.284%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.389%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.389%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.538%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">(millions)</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Retiree medical</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Retiree life insurance</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Total</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">2026</td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">2.7 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">1.4 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">4.1 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">2027</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4.1 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">2028</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">2029</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">2030</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">2031-2036</td><td colspan="2" style="border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">12.7 </td><td style="border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">5.4 </td><td style="border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">18.1 </td><td style="border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:9pt">The assumed discount rate in determining the benefit obligation was 5.1% and 5.2% for 2025 and 2024, respectively.</div>For 2025, the assumed annual rate of increase in the cost of covered health care benefits is 13.8% (7.6% last year). It is assumed to decrease gradually to 4.5% in the year 2034 (4.5% in 2034 last year) and remain at that level thereafter.

111600000

88900000

<div>The significant assumptions used to determine benefit obligations are as follows as of November 30:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:51.099%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.776%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.776%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.776%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.073%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"><div> </div></td><td colspan="6" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">United States</td><td colspan="6" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">International</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"><div> </div></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Discount rate—funded plans</td><td colspan="2" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">5.5 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">5.3 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">5.1 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4.7 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Discount rate—unfunded plan</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">5.4 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">5.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Salary scale</td><td colspan="2" style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2.9 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2.9 </td><td style="border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td></tr></table></div><div> </div><div>The significant assumptions used to determine pension expense for the years ended November 30 are as follows:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.561%"><tr><td style="width:1.0%"></td><td style="width:41.924%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.297%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.444%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.444%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.297%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.444%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.450%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"><div> </div></td><td colspan="9" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">United States</td><td colspan="9" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">International</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"><div> </div></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2023</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2023</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Discount rate—funded plans</td><td colspan="2" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">5.3 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">6.0 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">5.4 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4.7 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">5.1 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4.5 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Discount rate—unfunded plan</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">5.3 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">6.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">5.4 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Salary scale</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2.9 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Expected return on plan assets</td><td colspan="2" style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">5.8 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">6.3 </td><td style="border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">6.8 </td><td style="border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4.7 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">5.2 </td><td style="border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4.9 </td><td style="border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td></tr></table></div>

0.055

0.053

0.051

0.047

0.054

0.053

0.029

0.053

0.060

0.054

0.047

0.051

0.045

0.053

0.060

0.054

0.029

0.058

0.063

0.068

0.047

0.052

0.049

<div style="margin-top:9pt">Our pension expense (income) for the years ended November 30 was as follows:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:31.891%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.043%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.043%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.043%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.043%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.043%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.194%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"><div> </div></td><td colspan="9" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">United States</td><td colspan="9" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">International</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">(millions)</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2023</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2023</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Service cost</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">1.6 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">1.5 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">2.0 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">0.7 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">0.6 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">0.6 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Interest costs</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">35.5 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">37.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">36.1 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">10.2 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">10.6 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">9.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Expected return on plan assets</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(37.2)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(39.6)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(42.3)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(14.3)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(16.1)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(15.1)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Amortization of prior service costs</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.5 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.1 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.1 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.1 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Amortization of net actuarial loss (gain)</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1.1 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(0.4)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(0.1)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(0.3)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(0.1)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Total pension expense (income)</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">1.5 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">(0.7)</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">(3.5)</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">(3.4)</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">(5.1)</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">(4.6)</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:9pt">Our other postretirement benefit expense for the years ended November 30 follows:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:59.457%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.949%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.949%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.245%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">(millions)</td><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2023</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Service cost</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">0.8 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">0.8 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">1.3 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Interest costs</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2.2 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2.4 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2.6 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Amortization of prior service credits</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(0.2)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(0.3)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(0.3)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Amortization of actuarial gains</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(2.6)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(2.7)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(2.2)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Postretirement benefit expense </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">0.2 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">0.2 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">1.4 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

1600000

1500000

2000000.0

700000

600000

35500000

37300000

36100000

10200000

10600000

9900000

Expected return on plan assets Expected return on plan assets Expected return on plan assets

37200000

39600000

42300000

14300000

16100000

15100000

500000

100000

Amortization of net actuarial loss (gain) Amortization of net actuarial loss (gain) Amortization of net actuarial loss (gain)

-1100000

400000

-200000

100000

300000

100000

1500000

-700000

-3500000

-3400000

-5100000

-4600000

<div style="margin-top:9pt">A roll forward of the benefit obligation, fair value of plan assets and a reconciliation of the pension plans’ funded status as of November 30, the measurement date, follows:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:44.061%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.536%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.536%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.536%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.831%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"><div> </div></td><td colspan="6" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">United States</td><td colspan="6" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">International</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">(millions)</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Change in benefit obligation:</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top">Benefit obligation at beginning of year</td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">695.0 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">645.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">216.9 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">214.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 37pt;text-align:left;vertical-align:top">Service cost</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1.6 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.7 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.6 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 37pt;text-align:left;vertical-align:top">Interest costs</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">35.5 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">37.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">10.2 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">10.6 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 37pt;text-align:left;vertical-align:top">Actuarial (gain) loss</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(12.4)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">56.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(9.7)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">7.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 37pt;text-align:left;vertical-align:top">Benefits paid</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(46.4)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(45.4)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(14.2)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(13.5)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 37pt;text-align:left;vertical-align:top">Foreign currency impact</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">7.2 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(2.6)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Benefit obligation at end of year</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">673.3 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">695.0 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">211.1 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">216.9 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Change in fair value of plan assets:</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top">Fair value of plan assets at beginning of year</td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">670.7 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">630.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">272.4 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">267.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 37pt;text-align:left;vertical-align:top">Actual return on plan assets</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">44.1 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">76.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2.3 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">21.1 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 37pt;text-align:left;vertical-align:top">Employer contributions</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">8.3 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">9.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.9 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 37pt;text-align:left;vertical-align:top">Benefits paid</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(46.4)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(45.4)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(14.2)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(13.5)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 37pt;text-align:left;vertical-align:top">Foreign currency impact</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">8.0 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(3.0)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Fair value of plan assets at end of year</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">676.7 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">670.7 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">269.4 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">272.4 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Funded status</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">3.4 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">(24.3)</td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">58.3 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">55.5 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Pension plans in which accumulated benefit obligation exceeded plan assets</td><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 37pt;text-align:left;vertical-align:top">Projected benefit obligation</td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">72.3 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">116.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">15.2 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">14.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 37pt;text-align:left;vertical-align:top">Accumulated benefit obligation</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">72.3 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">113.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">12.7 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">12.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:top">Fair value of plan assets</td><td colspan="2" style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">38.0 </td><td style="border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1.9 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1.8 </td><td style="border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:9pt">Roll forwards of the benefit obligation, fair value of plan assets and a reconciliation of the plans’ funded status at November 30, the measurement date, follow:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:72.800%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.949%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.951%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:middle">(millions)</td><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">Change in benefit obligation:</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Benefit obligation at beginning of year</td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">45.0 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">47.1 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom">Service cost</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.8 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom">Interest costs</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2.2 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2.4 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom">Participant contributions</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2.6 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom">Actuarial gain</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(0.9)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(1.1)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom">Benefits paid</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(6.3)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(7.0)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Benefit obligation at end of year</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">43.4 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">45.0 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">Change in fair value of plan assets:</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:9pt">Fair value of plan assets at beginning of year</div></td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom">Employer contributions</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3.7 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom">Participant contributions</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2.6 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom">Benefits paid</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(6.3)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(7.0)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Fair value of plan assets at end of year</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Other postretirement benefit liability</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">43.4 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">45.0 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

695000000.0

645300000

216900000

214000000.0

1600000

1500000

700000

600000

35500000

37300000

10200000

10600000

12400000

-56300000

9700000

-7800000

46400000

45400000

14200000

13500000

7200000

-2600000

673300000

695000000.0

211100000

216900000

670700000

630700000

272400000

267000000.0

44100000

76200000

2300000

21100000

8300000

9200000

900000

800000

46400000

45400000

14200000

13500000

8000000.0

-3000000.0

676700000

670700000

269400000

272400000

3400000

-24300000

58300000

55500000

72300000

116300000

15200000

14700000

72300000

113300000

12700000

12300000

38000000.0

1900000

1800000

670000000.0

692000000.0

208600000

214500000

72300000

75100000

69500000

73100000

<div style="margin-top:9pt">Amounts recorded in the balance sheet for all defined benefit pension plans as of November 30 consist of the following:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:41.715%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.122%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.122%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.122%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.419%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"><div> </div></td><td colspan="6" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">United States</td><td colspan="6" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">International </td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">(millions)</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Non-current pension asset</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">75.6 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">54.0 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">71.6 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">68.4 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Accrued pension liability</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">72.2 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">78.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">13.3 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">12.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Deferred income tax assets</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">23.8 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">28.6 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4.5 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Accumulated other comprehensive loss, net of tax</td><td colspan="2" style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">68.7 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">84.8 </td><td style="border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">33.8 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">31.1 </td><td style="border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

75600000

54000000.0

71600000

68400000

72200000

78300000

13300000

12900000

23800000 28600000 4500000 3800000

68700000

84800000

33800000

31100000

<div style="margin-top:9pt">The allocations of U.S. pension plan assets as of November 30, by asset category, were as follows:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:59.457%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.949%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.949%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.245%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"><div> </div></td><td colspan="6" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">Actual</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">Asset Category</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Target</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Equity securities</td><td colspan="2" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">20.3 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">22.1 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">24.2 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Fixed income securities</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">73.1 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">69.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">70.6 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Other</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">6.6 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">8.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">5.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Total</td><td colspan="2" style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">100.0 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">100.0 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">100.0 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td></tr></table></div><div style="margin-top:9pt">The allocations of the international pension plans’ assets as of November 30, by asset category, were as follows:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:59.457%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.949%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.949%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.245%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"><div> </div></td><td colspan="6" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">Actual</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">Asset Category</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Target </td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Equity securities</td><td colspan="2" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">6.6 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">7.9 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">6.2 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Fixed income securities</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">88.3 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">86.4 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">88.4 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Other</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">5.1 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">5.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">5.4 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Total</td><td colspan="2" style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">100.0 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">100.0 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">100.0 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td></tr></table></div>

0.203

0.221

0.242

0.731

0.699

0.706

0.066

0.080

0.052

1.000

0.066

0.079

0.062

0.883

0.864

0.884

0.051

0.057

0.054

1.000

<div style="margin-top:9pt">The following tables set forth by level, within the fair value hierarchy as described in Note 8, pension plan assets at their fair value as of November 30 for the United States and international plans:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:87.573%"><tr><td style="width:1.0%"></td><td style="width:58.332%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.422%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.422%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.424%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">As of November 30, 2025</td><td colspan="9" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">United States</td></tr><tr><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">(millions)</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Total fair value</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Level 1</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Level 2</td></tr><tr><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">Cash and cash equivalents</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">4.5 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">4.5 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:bottom">Equity securities:</td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:9pt">U.S. equity securities(a)</div></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">81.6 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">81.6 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:9pt">International equity securities(b)</div></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">48.7 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">48.7 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:bottom">Fixed income securities:</td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:9pt">U.S. government/corporate bonds(c)</div></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">439.6 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">439.6 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:9pt">High yield bonds(d)</div></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">42.6 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">42.6 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:9pt">Insurance contracts(f)</div></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1.2 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1.2 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">Total</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">618.2 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">4.5 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">613.7 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Investments measured at net asset value(h)</div></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.25pt">Hedge funds(i)</div></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">18.3 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.25pt">Private equity funds(j)</div></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">7.1 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.25pt">Private debt funds(k)</div></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">10.9 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.25pt">Real estate (l)</div></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">22.2 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Total investments</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">676.7 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:0 1pt"></td></tr></table></div><div> <table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:87.573%"><tr><td style="width:1.0%"></td><td style="width:58.332%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.422%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.422%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.424%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">As of November 30, 2025</td><td colspan="9" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">International</td></tr><tr><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">(millions)</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Total fair value</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Level 1</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Level 2</td></tr><tr><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Cash and cash equivalents</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">4.6 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">4.6 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>International equity securities(b)</div></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">17.8 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">17.8 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:top">Fixed income securities:</td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6pt">International/government/corporate bonds(e)</div></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">223.4 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">223.4 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6pt">Insurance contracts(f)</div></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">14.5 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">14.5 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6pt">Real estate(g)</div></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">9.1 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">9.1 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Total investments</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">269.4 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">4.6 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">264.8 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:87.573%"><tr><td style="width:1.0%"></td><td style="width:58.332%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.422%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.422%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.424%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">As of November 30, 2024</td><td colspan="9" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">United States</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">(millions)</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Total fair value </td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Level 1</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Level 2</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Cash and cash equivalents</td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">4.4 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">4.4 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Equity securities:</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:9pt">U.S. equity securities(a)</div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">81.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">81.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:9pt">International equity securities(b)</div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">50.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">50.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Fixed income securities:</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:9pt">U.S./government/ corporate bonds(c)</div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">417.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">417.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:9pt">High yield bonds(d)</div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">42.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">42.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:9pt">Insurance contracts(f)</div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">Total </td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">597.0 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">4.4 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">592.6 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Investments measured at net asset value(h)</div></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.25pt">Hedge funds(i)</div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">29.6 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.25pt">Private equity funds(j)</div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">16.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom">Private debt funds(k)</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">8.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom">Real estate (l)</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">19.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Total investments</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">670.7 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:0 1pt"></td></tr></table></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:87.573%"><tr><td style="width:1.0%"></td><td style="width:58.332%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.422%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.422%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.424%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">As of November 30, 2024</td><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">International</td><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">(millions)</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Total fair value </td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Level 1</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Level 2</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Cash and cash equivalents</td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">6.4 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">6.4 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div>International equity securities(b)</div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">21.6 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">21.6 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Fixed income securities:</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:9pt">International/government/corporate bonds(e)</div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">220.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">220.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:9pt">Insurance contracts(f)</div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">14.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">14.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom">Real estate (g)</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">9.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">9.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Total investments</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">272.4 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">6.4 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">266.0 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="padding-left:20.25pt;text-indent:-18pt">(a)This category comprises equity funds and collective equity trust funds that most closely track the S&P index and other equity indices.</div><div style="padding-left:20.25pt;text-indent:-18pt">(b)This category comprises international equity funds with varying benchmark indices.</div><div style="padding-left:20.25pt;text-indent:-18pt">(c)This category comprises funds consisting of U.S. government and U.S. corporate bonds and other fixed income securities. An appropriate benchmark is the Barclays Capital Aggregate Bond Index.</div><div style="padding-left:20.25pt;text-indent:-18pt">(d)This category comprises funds consisting of a variety of fixed income securities with varying benchmark indices.</div><div style="padding-left:20.25pt;text-indent:-18pt">(e)This category comprises funds consisting of international government/corporate bonds and other fixed income securities with varying benchmark indices.</div><div style="padding-left:20.25pt;text-indent:-18pt">(f)This category comprises insurance contracts, the majority of which have a guaranteed investment return.</div><div style="padding-left:20.25pt;text-indent:-18pt">(g)This category comprises funds investing in real estate investment trusts (REIT). Appropriate benchmarks are the MSCI REALPAC Canada Property Index International holding.</div><div style="padding-left:20.25pt;text-indent:-18pt">(h)Certain investments that are valued using the net asset value per share (or its equivalent) as a practical expedient have not been classified in the fair value hierarchy. These are included to permit reconciliation of the fair value hierarchy to the aggregate pension plan assets. </div><div style="padding-left:20.25pt;text-indent:-18pt">(i)This category comprises hedge funds investing in strategies represented in various HFRI Fund Indices. The net asset value is generally based on the valuation of the underlying investment. Limitations exist on the timing from notice by the plan of its intent to redeem and actual redemptions of these funds and generally range from a minimum of one month to several months.</div><div style="padding-left:20.25pt;text-indent:-18pt">(j)This category comprises private equity, venture capital and limited partnerships. The net asset is based on valuation models of the underlying securities as determined by the general partner or general partner's designee. These valuation models include unobservable inputs that cannot be corroborated using verifiable observable market data. These funds typically have redemption periods of approximately 10 years. </div><div style="padding-left:20.25pt;text-indent:-18pt">(k)This category comprises limited partnerships funds investing in senior loans, mezzanine and distressed debt. The net asset is based on valuation models of the underlying securities as determined by the general partner or general partner's designee. These valuation models include unobservable inputs that cannot be corroborated using verifiable observable market data. These funds typically have redemption periods of approximately 10 years. </div>(l)This category comprises private real estate funds. The net asset is based on valuation models of the underlying securities as determined by the general partner or general partner's designee. These valuation models include unobservable inputs that cannot be corroborated using verifiable observable market data. These funds have no redemption restrictions.

4500000

81600000

48700000

439600000

42600000

1200000

618200000

4500000

613700000

18300000

7100000

10900000

22200000

676700000

4600000

17800000

223400000

14500000

9100000

269400000

4600000

264800000

4400000

81200000

50300000

417000000.0

42900000

1200000

597000000.0

4400000

592600000

29600000

16800000

8000000.0

19300000

670700000

6400000

21600000

220700000

14700000

9000000.0

272400000

6400000

266000000.0

800000

<div style="margin-top:9pt">Pension benefit payments in our most significant plans are made from assets of the pension plans. It is anticipated that future benefit payments for the U.S. and international plans for the next 10 fiscal years will be as follows:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:65.762%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.468%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.470%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">(millions)</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">United States</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">International</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">2026</td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">51.0 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">13.1 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">2027</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">51.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">13.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">2028</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">52.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">12.4 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">2029</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">52.6 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">13.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">2030</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">52.4 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">14.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">2031-2036</td><td colspan="2" style="border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">256.5 </td><td style="border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">71.9 </td><td style="border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:9pt">Estimated future benefit payments (net of employee contributions) for the next 10 fiscal years are as follows:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:58.284%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.389%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.389%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.538%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">(millions)</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Retiree medical</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Retiree life insurance</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Total</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">2026</td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">2.7 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">1.4 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">4.1 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">2027</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4.1 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">2028</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">2029</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">2030</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">2031-2036</td><td colspan="2" style="border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">12.7 </td><td style="border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">5.4 </td><td style="border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">18.1 </td><td style="border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

51000000.0

13100000

51500000

13000000.0

52000000.0

12400000

52600000

13700000

52400000

14200000

256500000

71900000

1 0.03 0.667 0.03

0.03

34900000

34700000

29700000

1800000

122100000

3500000

3600000

P55Y P5Y

800000

1300000

2200000

2400000

2600000

-200000

-300000

2600000

2700000

2200000

200000

1400000

45000000.0

47100000

800000

2200000

2400000

2600000

2800000

900000

1100000

6300000

7000000.0

43400000

45000000.0

3700000

4200000

2600000

2800000

6300000

7000000.0

43400000

45000000.0

2700000

1400000

4100000

2800000

1300000

4100000

2700000

1300000

4000000.0

2700000

1300000

4000000.0

2700000

1200000

3900000

12700000

5400000

18100000

0.051

0.052

0.138

0.076

0.045

STOCK-BASED COMPENSATION<div style="margin-top:5pt">We have four types of stock-based compensation awards: restricted stock units (RSUs), stock options, and company stock awarded as part of our long-term performance plan (LTPP) and price-vested stock options. Total stock-based compensation expense for 2025, 2024, and 2023 was $46.2 million, $47.4 million and $63.4 million, </div><div style="margin-top:5pt">respectively. Total unrecognized stock-based compensation expense related to our RSUs and stock options at November 30, 2025 was $26.9 million and the weighted-average period over which this will be recognized is 1.8 years. Total unrecognized stock-based compensation expense related to our LTPP is variable in nature and is dependent on the Company's execution against established performance metrics under performance cycles related to this plan. All stock-based compensation expense related to our price-vested stock options was fully recognized as of November 30, 2023. As of November 30, 2025, we have 4.6 million shares of common stock remaining available for future issuance under our stock-based compensation programs.</div><div style="margin-top:9pt">The following summarizes the key terms, a summary of activity, and the methods of valuation for each of our stock-based compensation awards.</div><div style="margin-top:9pt">RSUs</div><div>RSUs are valued at the market price of the underlying stock, discounted by foregone dividends, on the date of grant. Substantially all of the RSUs granted vest over a three-year term or, if earlier, upon the retirement eligibility</div><div>date of the holder. </div><div style="margin-top:9pt">A summary of our RSU activity for the years ended November 30 follows:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:36.180%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.426%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.280%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.280%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.426%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.280%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.428%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">(shares in thousands)</td><td colspan="6" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="6" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td><td colspan="6" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2023</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"><div> </div></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Shares</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Weighted- average price </td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Shares</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Weighted- average price</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Shares</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Weighted- average price</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Beginning of year</td><td colspan="2" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">533 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">73.68 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">494 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">76.94 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">480 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">77.62 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Granted</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">543 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">74.56 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">282 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">72.77 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">264 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">77.53 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Vested</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(250)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">77.11 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(214)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">79.13 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(225)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">78.16 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Forfeited</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(55)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">74.63 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(29)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">79.73 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(25)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">85.21 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Outstanding—end of year</td><td colspan="2" style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">771 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">73.11 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">533 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">73.68 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">494 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">76.94 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:9pt">Stock Options (Other than Price-Vested Stock Options)</div><div style="margin-top:6pt">Stock options are granted with an exercise price equal to the market price of the stock on the date of grant. Substantially all of the options, with the exception of price-vested options detailed below, vest ratably over a three-year period or, if earlier, upon the retirement-eligibility dates of the holders and are exercisable over a 10-year period. Upon exercise of the option, shares are issued from our authorized and unissued shares.</div><div style="margin-top:9pt">The fair value of the options is estimated with a lattice option pricing model which uses the assumptions in the following table. We believe the lattice model provides an appropriate estimate of fair value of our options as it allows for a range of possible outcomes over an option term and can be adjusted for changes in certain assumptions over time. Expected volatilities are based primarily on the historical performance of our stock. We also use historical data to estimate the timing and amount of option exercises and forfeitures within the valuation model. The expected term of the options is an output of the option pricing model and estimates the period of time that options are expected to remain unexercised. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant. Compensation expense is calculated based on the fair value of the options on the date of grant. </div><div style="margin-top:9pt">The per share weighted-average fair value for all options granted was $17.63 and $19.35 in 2024 and 2023, respectively. No stock option awards were granted during 2025. These fair values were computed using the following range of assumptions for the years ended November 30:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:86.257%"><tr><td style="width:1.0%"></td><td style="width:66.696%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.001%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.003%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2023</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Risk-free interest rates</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right">4.1% - 5.5%</div></td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right">3.5% - 4.9%</div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Dividend yield</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Expected volatility</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">22.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">21.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Expected lives</td><td colspan="3" style="border-bottom:2pt solid #00539b;padding:2px 1pt;text-align:right;vertical-align:bottom">7.1 years</td><td colspan="3" style="border-bottom:2pt solid #00539b;padding:2px 1pt;text-align:right;vertical-align:bottom">7.3 years</td></tr></table></div><div style="margin-top:9pt">Under our stock option plans, we may issue shares on a net basis at the request of the option holder. This occurs by netting the option cost in shares from the shares exercised.</div><div style="margin-top:9pt">A summary of our stock option activity for the years ended November 30 follows:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:36.473%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.280%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.280%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.280%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.280%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.280%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.427%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">(shares in millions)</td><td colspan="6" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="6" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td><td colspan="6" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2023</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"><div> </div></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Shares</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Weighted- average exercise price </td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Shares</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Weighted- average exercise price</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Shares</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Weighted- average exercise price</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Beginning of year</td><td colspan="2" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">6.1 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">72.25 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">5.3 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">70.43 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4.8 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">67.08 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Granted</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">72.88 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">81.79 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Exercised</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(0.4)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">50.28 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(0.3)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">45.69 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(0.3)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">47.86 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Forfeited</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(0.2)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">72.11 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(0.1)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">84.00 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(0.1)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">87.11 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Outstanding—end of year</td><td colspan="2" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">5.5 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">73.92 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">6.1 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">72.25 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">5.3 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">70.43 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Exercisable—end of year</td><td colspan="2" style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4.7 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">73.54 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4.4 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">69.91 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4.0 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">64.74 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:9pt">As of November 30, 2025, the intrinsic value (the difference between the exercise price and the market price) for options currently outstanding was $21.5 million and for options exercisable was $21.3 million. At November 30, 2025 the differences between options outstanding and options expected to vest and their related weighted-average exercise prices, aggregate intrinsic values, and weighted-average remaining lives were not material. The total intrinsic value of all options exercised during the years ended November 30, 2025, 2024, and 2023 was $11.0 million, $10.7 million, and $11.3 million, respectively. </div><div style="margin-top:9pt">A summary of our stock options outstanding and exercisable at November 30, 2025 follows:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.561%"><tr><td style="width:1.0%"></td><td style="width:34.876%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.619%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.472%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.619%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.472%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.619%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.623%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">(shares in millions)</td><td colspan="9" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Options outstanding</td><td colspan="9" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Options exercisable</td></tr><tr><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">Range of exercise price</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Shares</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Weighted- average remaining life (yrs.)</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Weighted- average exercise price</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Shares</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Weighted- average remaining life (yrs.)</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Weighted- average exercise price </td></tr><tr><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top"><div>$48.00 - $65.00</div></td><td colspan="2" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1.2 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">1.4</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">50.50 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1.2 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">1.4</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">50.50 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:top"><div>$65.01 - $82.00</div></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2.9 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:center;vertical-align:bottom">6.4</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">74.82 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2.1 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:center;vertical-align:bottom">5.7</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">74.31 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:top"><div>$82.01 - $99.00</div></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1.4 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:center;vertical-align:bottom">5.2</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">92.81 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1.4 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:center;vertical-align:bottom">5.2</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">92.81 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="2" style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">5.5 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">5.0</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">73.92 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4.7 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">4.4</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">73.54 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:9pt">LTPP</div><div>LTPP awards granted in 2025, 2024, and 2023 will be delivered in company stock, with the award attainment calculated as a percentage of target based on a combination of a performance-based component and a market-based total shareholder return. These awards are valued based on the fair value of the underlying stock and the estimated fair value associated with the total shareholder return on the date of grant. </div><div style="margin-top:9pt">A summary of the LTPP award activity for the years ended November 30 follows:</div><div style="margin-top:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:36.528%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.295%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.295%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.295%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.295%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.295%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.297%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">(shares in thousands)</td><td colspan="6" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="6" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td><td colspan="6" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2023</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"> </td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Shares</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Weighted- average price </td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Shares</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Weighted- average price</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Shares</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Weighted- average price</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">Beginning of year</td><td colspan="2" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">539 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">83.45 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">474 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">94.34 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">451 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">106.32 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Granted</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">177 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">86.92 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">192 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">66.49 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">167 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">89.00 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Vested</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(206)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">95.00 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(181)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">98.30 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(176)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">86.14 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Performance adjustment</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">53 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">89.00 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">73 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">95.00 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">61 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">98.30 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Forfeited</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(40)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">80.03 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(19)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">84.71 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(29)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">92.31 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Outstanding—end of year</td><td colspan="2" style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">523 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">80.88 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">539 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">83.45 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">474 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">94.34 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:9pt">Price-Vested Stock Options</div><div>In November 2020, we granted approximately 2,482,000 price-vested stock options to certain employees. The price-vested stock options were granted with an exercise price of $93.49 which was equal to the market price of our stock on the date of grant. The price-vested options were not exercisable until a three year service condition was achieved, and were exercisable after that time period only if the average closing price of our stock price was equal to or exceeded thresholds of 60%, 80% or 100% appreciation from the exercise price for 30 consecutive trading days within a five-year period from the date of grant. The market conditions were not met in the five-year period from the date of grant and all price-vested options were forfeited in November 2025.</div><div style="margin-top:12pt">The following is a summary of our Price-Vested Stock Options activity for the years ended November 30:</div><div style="margin-top:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.684%"><tr><td style="width:1.0%"></td><td style="width:21.566%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.788%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.788%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.788%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.788%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.788%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.794%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">(shares in thousands)</td><td colspan="6" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="6" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td><td colspan="6" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2023</td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Number of Shares</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Weighted- Average Grant-Date Fair Value</td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Number of Shares</td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Weighted- Average Grant-Date Fair Value</td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Number of Shares</td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Weighted- Average Grant-Date Fair Value</td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Beginning of year</td><td colspan="2" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,055 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">9.40 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,055 </td><td style="background-color:#ffffff;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#ffffff;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">9.40 </td><td style="background-color:#ffffff;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,107 </td><td style="background-color:#ffffff;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#ffffff;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">9.40 </td><td style="background-color:#ffffff;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Forfeited</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(2,055)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">9.40 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(52)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">9.40 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Outstanding—end of year</td><td colspan="2" style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,055 </td><td style="background-color:#ffffff;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#ffffff;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">9.40 </td><td style="background-color:#ffffff;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,055 </td><td style="background-color:#ffffff;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#ffffff;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">9.40 </td><td style="background-color:#ffffff;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div>

46200000

47400000

63400000

26900000

P1Y9M18D

4600000

P3Y

<div style="margin-top:9pt">A summary of our RSU activity for the years ended November 30 follows:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:36.180%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.426%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.280%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.280%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.426%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.280%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.428%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">(shares in thousands)</td><td colspan="6" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="6" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td><td colspan="6" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2023</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"><div> </div></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Shares</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Weighted- average price </td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Shares</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Weighted- average price</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Shares</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Weighted- average price</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Beginning of year</td><td colspan="2" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">533 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">73.68 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">494 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">76.94 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">480 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">77.62 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Granted</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">543 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">74.56 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">282 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">72.77 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">264 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">77.53 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Vested</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(250)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">77.11 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(214)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">79.13 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(225)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">78.16 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Forfeited</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(55)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">74.63 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(29)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">79.73 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(25)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">85.21 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Outstanding—end of year</td><td colspan="2" style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">771 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">73.11 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">533 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">73.68 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">494 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">76.94 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

533000

73.68

494000

76.94

480000

77.62

543000

74.56

282000

72.77

264000

77.53

250000

77.11

214000

79.13

225000

78.16

55000

74.63

29000

79.73

25000

85.21

771000

73.11

533000

73.68

494000

76.94

P3Y

P10Y

17.63

19.35

These fair values were computed using the following range of assumptions for the years ended November 30:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:86.257%"><tr><td style="width:1.0%"></td><td style="width:66.696%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.001%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.003%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2023</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Risk-free interest rates</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right">4.1% - 5.5%</div></td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right">3.5% - 4.9%</div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Dividend yield</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Expected volatility</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">22.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">21.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Expected lives</td><td colspan="3" style="border-bottom:2pt solid #00539b;padding:2px 1pt;text-align:right;vertical-align:bottom">7.1 years</td><td colspan="3" style="border-bottom:2pt solid #00539b;padding:2px 1pt;text-align:right;vertical-align:bottom">7.3 years</td></tr></table>

0.041

0.055

0.035

0.049

0.023

0.019

0.228

0.218

P7Y1M6D

P7Y3M18D

<div style="margin-top:9pt">A summary of our stock option activity for the years ended November 30 follows:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:36.473%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.280%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.280%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.280%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.280%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.280%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.427%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">(shares in millions)</td><td colspan="6" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="6" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td><td colspan="6" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2023</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"><div> </div></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Shares</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Weighted- average exercise price </td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Shares</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Weighted- average exercise price</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Shares</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Weighted- average exercise price</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Beginning of year</td><td colspan="2" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">6.1 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">72.25 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">5.3 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">70.43 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4.8 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">67.08 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Granted</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">72.88 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">81.79 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Exercised</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(0.4)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">50.28 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(0.3)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">45.69 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(0.3)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">47.86 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Forfeited</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(0.2)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">72.11 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(0.1)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">84.00 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(0.1)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">87.11 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Outstanding—end of year</td><td colspan="2" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">5.5 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">73.92 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">6.1 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">72.25 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">5.3 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">70.43 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Exercisable—end of year</td><td colspan="2" style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4.7 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">73.54 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4.4 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">69.91 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4.0 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">64.74 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:12pt">The following is a summary of our Price-Vested Stock Options activity for the years ended November 30:</div><div style="margin-top:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.684%"><tr><td style="width:1.0%"></td><td style="width:21.566%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.788%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.788%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.788%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.788%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.788%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.794%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">(shares in thousands)</td><td colspan="6" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="6" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td><td colspan="6" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2023</td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Number of Shares</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Weighted- Average Grant-Date Fair Value</td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Number of Shares</td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Weighted- Average Grant-Date Fair Value</td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Number of Shares</td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Weighted- Average Grant-Date Fair Value</td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Beginning of year</td><td colspan="2" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,055 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">9.40 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,055 </td><td style="background-color:#ffffff;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#ffffff;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">9.40 </td><td style="background-color:#ffffff;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,107 </td><td style="background-color:#ffffff;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#ffffff;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">9.40 </td><td style="background-color:#ffffff;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Forfeited</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(2,055)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">9.40 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(52)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">9.40 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Outstanding—end of year</td><td colspan="2" style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,055 </td><td style="background-color:#ffffff;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#ffffff;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">9.40 </td><td style="background-color:#ffffff;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,055 </td><td style="background-color:#ffffff;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#ffffff;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">9.40 </td><td style="background-color:#ffffff;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div>

6100000

72.25

5300000

70.43

4800000

67.08

1200000

72.88

900000

81.79

400000

50.28

300000

45.69

300000

47.86

200000

72.11

100000

84.00

100000

87.11

5500000

73.92

6100000

72.25

5300000

70.43

4700000

73.54

4400000

69.91

4000000.0

64.74

21500000

21300000

11000000.0

10700000

11300000

48.00

65.00

1200000

P1Y4M24D

50.50

1200000

P1Y4M24D

50.50

65.01

82.00

2900000

P6Y4M24D

74.82

2100000

P5Y8M12D

74.31

82.01

99.00

1400000

P5Y2M12D

92.81

1400000

P5Y2M12D

92.81

5500000

P5Y

73.92

4700000

P4Y4M24D

73.54

<div style="margin-top:9pt">A summary of the LTPP award activity for the years ended November 30 follows:</div><div style="margin-top:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:36.528%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.295%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.295%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.295%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.295%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.295%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.297%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">(shares in thousands)</td><td colspan="6" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="6" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td><td colspan="6" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2023</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"> </td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Shares</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Weighted- average price </td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Shares</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Weighted- average price</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Shares</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Weighted- average price</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">Beginning of year</td><td colspan="2" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">539 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">83.45 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">474 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">94.34 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">451 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">106.32 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Granted</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">177 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">86.92 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">192 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">66.49 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">167 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">89.00 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Vested</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(206)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">95.00 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(181)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">98.30 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(176)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">86.14 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Performance adjustment</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">53 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">89.00 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">73 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">95.00 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">61 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">98.30 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Forfeited</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(40)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">80.03 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(19)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">84.71 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(29)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">92.31 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Outstanding—end of year</td><td colspan="2" style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">523 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">80.88 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">539 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">83.45 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">474 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">94.34 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

539000

83.45

474000

94.34

451000

106.32

177000

86.92

192000

66.49

167000

89.00

206000

95.00

181000

98.30

176000

86.14

53000

89.00

73000

95.00

61000

98.30

40000

80.03

19000

84.71

29000

92.31

523000

80.88

539000

83.45

474000

94.34

2482000

93.49

P3Y

0.60

0.80

2055000

9.40

2055000

9.40

2107000

9.40

2055000

9.40

52000

9.40

2055000

9.40

2055000

9.40

INCOME TAXES<div style="margin-top:5pt">The provision for income taxes for the years ended November 30 consists of the following:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:58.137%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.389%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.536%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.538%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">(millions)</td><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2023</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Income taxes</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Current</td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top">Federal</td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">76.6 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">103.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">82.4 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top">State</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">17.0 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">16.6 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">15.1 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top">International</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">108.7 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">94.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">82.4 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="2" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">202.3 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">214.3 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">179.9 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Deferred</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top">Federal</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2.6 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(15.2)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(2.2)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top">State</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(9.6)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(6.3)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top">International</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.5 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(8.8)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(5.9)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="2" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(6.5)</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(30.3)</td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(5.4)</td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Total income tax expense</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">195.8 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">184.0 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">174.5 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:9pt">The components of income from consolidated operations before income taxes for the years ended November 30 follow:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:58.284%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.389%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.389%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.538%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">(millions)</td><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2023</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Pretax income</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">United States</td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">620.4 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">634.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">569.6 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">International</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">292.6 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">263.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">229.1 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top"> </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">913.0 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">898.3 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">798.7 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:9pt">A reconciliation of the U.S. federal statutory rate with the effective tax rate for the years ended November 30 follows:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:58.284%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.389%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.389%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.538%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">2023</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Federal statutory tax rate</td><td colspan="2" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">21.0 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">21.0 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">21.0 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">State income taxes, net of federal benefits</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.7 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">International tax at different effective rates</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.7 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.6 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">U.S. tax on remitted and unremitted earnings</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2.1 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Changes in prior year tax contingencies</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(1.1)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(1.4)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(0.8)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Legal entity reorganization</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(2.3)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Valuation allowances</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(0.4)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">U.S. research credits</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(1.4)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(1.3)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(1.5)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Other, net</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(0.6)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.4 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Total</td><td colspan="2" style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">21.4 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">20.5 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">21.8 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td></tr></table></div><div style="margin-top:18pt">Deferred tax assets and liabilities are comprised of the following as of November 30:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:68.738%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.980%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.982%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">(millions)</td><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2025</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2024</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Deferred tax assets</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Employee benefit liabilities</td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">39.4 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">48.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Other accrued liabilities</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">37.9 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">36.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Inventory</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">17.9 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">18.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Tax loss and credit carryforwards</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">76.4 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">69.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Lease liabilities</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">10.9 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">10.6 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Research expenditures</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">86.3 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">64.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Other</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">27.8 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">28.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Valuation allowance</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(41.1)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(33.5)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="2" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">255.5 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">241.3 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Deferred tax liabilities</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Depreciation</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">107.7 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">96.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Intangible assets</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">852.1 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">849.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Lease ROU assets</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">20.0 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">16.1 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Other</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">12.6 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">19.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="2" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">992.4 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">982.1 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Net deferred tax liability</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">(736.9)</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">(740.8)</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:9pt">At November 30, 2025, we have tax loss carryforwards of $166.5 million. Of these carryforwards, $4.9 million expire in 2026, $13.8 million from 2027 through 2028, $35.5 million from 2029 through 2042, and $112.3 million may be carried forward indefinitely. At November 30, 2025, we also have U.S. foreign tax credit carryforwards of $32.5 million. Of these carryforwards, $6.4 million expires in 2030, $8.1 million from 2031 through 2032, and $18.0 million from 2033 through 2035.</div><div style="margin-top:9pt">A valuation allowance has been provided to cover deferred tax assets that are not more likely than not realizable. The net increase of $7.6 million in the valuation allowance from November 30, 2024 to November 30, 2025 resulted primarily from the net increase of valuation allowances for net operating losses and other tax attributes in the U.S. and certain non-U.S. jurisdictions.</div><div style="margin-top:9pt">Income taxes are not provided for unremitted earnings of our non-U.S. subsidiaries and joint ventures where our intention is to reinvest those earnings indefinitely. As of November 30, 2025, we have $1.7 billion of earnings that are considered indefinitely reinvested. We have not provided any deferred taxes with respect to items such as foreign withholding taxes, other income taxes, or foreign exchange gain or loss with respect to those earnings. It is not practicable for us to determine the amount of unrecognized tax expense on these reinvested international earnings.</div><div style="margin-top:9pt">The following table summarizes the activity related to our gross unrecognized tax benefits for the years ended November 30:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:58.987%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.204%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.204%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.205%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">(millions)</td><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2025</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2024</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2023</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Balance at beginning of year</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">17.8 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">24.0 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">25.1 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Additions for current year tax positions</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2.9 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4.4 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Additions for prior year tax positions</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.1 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Reductions of prior year tax positions</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(4.0)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(3.6)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Statute expirations</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(4.6)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(10.5)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(1.3)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Settlements</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(1.3)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Foreign currency translation</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.1 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(0.1)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(0.1)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Balance at November 30</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">12.3 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">17.8 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">24.0 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:9pt">As of November 30, 2025, 2024, and 2023, if recognized, $12.3 million, $17.8 million, and $24.0 million, respectively, of the unrecognized tax benefits would affect the effective rate.</div><div style="margin-top:9pt">We record interest and penalties on income taxes in income tax expense. We recognized interest and penalty expense (benefit) of $(0.8) million, $(0.9) million, and $(0.5) million in 2025, 2024, and 2023, respectively. As of November 30, 2025 and 2024, we had accrued $2.1 million and $2.9 million, respectively, of interest and penalties related to unrecognized tax benefits.</div><div style="margin-top:9pt">Tax settlements or statute of limitation expirations could result in a change to our uncertain tax positions. We believe that the reasonably possible total amount of unrecognized tax benefits as of November 30, 2025 that could </div><div style="margin-top:9pt">decrease in the next 12 months as a result of various statute expirations, audit closures and/or tax settlements would not be material.</div><div style="margin-top:9pt">We file income tax returns in the U.S. federal jurisdiction and various state and non-U.S. jurisdictions. The open years subject to tax audits vary depending on the tax jurisdictions. In the U.S federal jurisdiction, we are no longer subject to income tax audits by taxing authorities for years before 2022. In other major jurisdictions, we are no longer subject to income tax audits by taxing authorities for years before 2014. </div><div style="margin-top:9pt">We are under normal recurring tax audits in the U.S. and in several jurisdictions outside the U.S. While it is often difficult to predict the final outcome or the timing of resolution of any particular uncertain tax position, we believe that our reserves for uncertain tax positions are adequate to cover existing risks and exposures.</div>

<div style="margin-top:5pt">The provision for income taxes for the years ended November 30 consists of the following:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:58.137%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.389%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.536%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.538%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">(millions)</td><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2023</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Income taxes</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Current</td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top">Federal</td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">76.6 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">103.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">82.4 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top">State</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">17.0 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">16.6 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">15.1 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top">International</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">108.7 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">94.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">82.4 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="2" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">202.3 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">214.3 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">179.9 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Deferred</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top">Federal</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2.6 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(15.2)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(2.2)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top">State</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(9.6)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(6.3)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top">International</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.5 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(8.8)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(5.9)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="2" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(6.5)</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(30.3)</td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(5.4)</td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Total income tax expense</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">195.8 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">184.0 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">174.5 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

76600000

103000000.0

82400000

17000000.0

16600000

15100000

108700000

94700000

82400000

202300000

214300000

179900000

2600000

-15200000

-2200000

-9600000

-6300000

2700000

500000

-8800000

-5900000

-6500000

-30300000

-5400000

195800000

184000000.0

174500000

<div style="margin-top:9pt">The components of income from consolidated operations before income taxes for the years ended November 30 follow:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:58.284%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.389%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.389%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.538%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">(millions)</td><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2023</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Pretax income</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">United States</td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">620.4 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">634.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">569.6 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">International</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">292.6 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">263.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">229.1 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top"> </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">913.0 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">898.3 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">798.7 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

620400000

634800000

569600000

292600000

263500000

229100000

913000000.0

898300000

798700000

<div style="margin-top:9pt">A reconciliation of the U.S. federal statutory rate with the effective tax rate for the years ended November 30 follows:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:58.284%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.389%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.389%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.538%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">2023</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Federal statutory tax rate</td><td colspan="2" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">21.0 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">21.0 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">21.0 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">State income taxes, net of federal benefits</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.7 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">International tax at different effective rates</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.7 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.6 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">U.S. tax on remitted and unremitted earnings</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2.1 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Changes in prior year tax contingencies</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(1.1)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(1.4)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(0.8)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Legal entity reorganization</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(2.3)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Valuation allowances</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(0.4)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">U.S. research credits</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(1.4)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(1.3)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(1.5)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Other, net</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(0.6)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.4 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Total</td><td colspan="2" style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">21.4 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">20.5 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">21.8 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td></tr></table></div>

0.210

0.007

0.009

0.019

0.007

0.006

0.003

0.021 0.018 0.009

-0.011

-0.014

-0.008

-0.023

0.007

-0.004

-0.014 -0.013 -0.015

-0.006

0.005

0.004

0.214

0.205

0.218

<div style="margin-top:18pt">Deferred tax assets and liabilities are comprised of the following as of November 30:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:68.738%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.980%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.982%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">(millions)</td><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2025</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2024</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Deferred tax assets</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Employee benefit liabilities</td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">39.4 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">48.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Other accrued liabilities</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">37.9 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">36.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Inventory</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">17.9 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">18.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Tax loss and credit carryforwards</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">76.4 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">69.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Lease liabilities</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">10.9 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">10.6 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Research expenditures</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">86.3 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">64.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Other</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">27.8 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">28.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Valuation allowance</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(41.1)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(33.5)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="2" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">255.5 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">241.3 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Deferred tax liabilities</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Depreciation</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">107.7 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">96.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Intangible assets</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">852.1 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">849.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Lease ROU assets</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">20.0 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">16.1 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Other</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">12.6 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">19.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="2" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">992.4 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">982.1 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Net deferred tax liability</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">(736.9)</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">(740.8)</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

39400000

48900000

37900000

36000000.0

17900000

18300000

76400000

69000000.0

10900000 10600000

86300000

64000000.0

27800000

28000000.0

41100000

33500000

255500000

241300000

107700000 96800000

852100000

849500000

20000000.0

16100000

12600000

19700000

992400000

982100000

736900000

740800000

166500000

4900000 13800000 35500000

112300000

32500000

6400000

8100000

18000000

-7600000

1700000000

<div style="margin-top:9pt">The following table summarizes the activity related to our gross unrecognized tax benefits for the years ended November 30:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:58.987%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.204%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.204%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.205%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">(millions)</td><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2025</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2024</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2023</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Balance at beginning of year</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">17.8 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">24.0 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">25.1 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Additions for current year tax positions</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2.9 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4.4 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Additions for prior year tax positions</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.1 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Reductions of prior year tax positions</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(4.0)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(3.6)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Statute expirations</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(4.6)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(10.5)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(1.3)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Settlements</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(1.3)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Foreign currency translation</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.1 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(0.1)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(0.1)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Balance at November 30</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">12.3 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">17.8 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">24.0 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

17800000

24000000.0

25100000

2900000

4400000

3900000

100000

1300000

4000000.0

3600000

4600000

10500000

1300000

100000 -100000 -100000

12300000

17800000

24000000.0

12300000

17800000

24000000

-800000

-900000

-500000

2100000

2900000

CAPITAL STOCK AND EARNINGS PER SHARE<div style="margin-top:5pt">We have 640,000,000 authorized shares of each class of common stock with an established the par value for 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.</div><div style="margin-top:5pt">Holders of Common Stock have full voting rights except that (1) the voting rights of persons who are deemed to own beneficially 10% or more of the outstanding shares of Common Stock are limited to 10% of the votes entitled to be cast by all holders of shares of Common Stock regardless of how many shares in excess of 10% are held by such person; (2) we have the right to redeem any or all shares of Common Stock owned by such person unless such person acquires more than 90% of the outstanding shares of each class of our common stock; and (3) at such time as such person controls more than 50% of the votes entitled to be cast by the holders of outstanding shares of Common Stock, automatically, on a share-for-share basis, all shares of Common Stock Non-Voting will convert into shares of Common Stock.</div><div style="margin-top:9pt">Holders of Common Stock Non-Voting will vote as a separate class on all matters on which they are entitled to vote. Holders of Common Stock Non-Voting are entitled to vote on reverse mergers and statutory share exchanges where our capital stock is converted into other securities or property, dissolution of the Company and the sale of substantially all of our assets, as well as forward mergers and consolidation of the Company or any amendment to our charter repealing the right of the Common Stock Non-Voting to vote on any such matters.</div><div style="margin-top:9pt">The reconciliation of shares outstanding used in the calculation of basic and diluted earnings per share for the years ended November 30 follows:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:58.987%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.204%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.204%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.205%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">(millions)</td><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2023</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Average shares outstanding—basic</td><td colspan="2" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">268.5 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">268.5 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">268.4 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Effect of dilutive securities:</td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Stock options/RSUs/LTPP</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.9 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1.1 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1.4 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Average shares outstanding—diluted</td><td colspan="2" style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">269.4 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">269.6 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">269.8 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:9pt">The following table sets forth the stock options and RSUs for the years ended November 30 which were not considered in our earnings per share calculation since they were antidilutive:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:59.457%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.949%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.949%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.245%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">(millions)</td><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2023</td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Antidilutive securities</td><td colspan="2" style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3.5 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3.4 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2.2 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

640000000

0.01

0.10 0.90 0.50

<div style="margin-top:9pt">The reconciliation of shares outstanding used in the calculation of basic and diluted earnings per share for the years ended November 30 follows:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:58.987%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.204%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.204%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.205%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">(millions)</td><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2023</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Average shares outstanding—basic</td><td colspan="2" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">268.5 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">268.5 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">268.4 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Effect of dilutive securities:</td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Stock options/RSUs/LTPP</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.9 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1.1 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1.4 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Average shares outstanding—diluted</td><td colspan="2" style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">269.4 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">269.6 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">269.8 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

268500000

268400000

900000

1100000

1400000

269400000

269600000

269800000

<div style="margin-top:9pt">The following table sets forth the stock options and RSUs for the years ended November 30 which were not considered in our earnings per share calculation since they were antidilutive:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:59.457%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.949%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.949%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.245%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">(millions)</td><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">2023</td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Antidilutive securities</td><td colspan="2" style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3.5 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3.4 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2.2 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

3500000

3400000

2200000

COMMITMENTS AND CONTINGENCIES<div style="margin-top:5pt">During the normal course of our business, we are involved with various claims and litigation. Reserves are established in connection with such matters when a loss is probable and the amount of such loss can be reasonably estimated. At November 30, 2025 and 2024, no material reserves were recorded. The determination of probability and the estimation of the actual amount of any such loss are inherently unpredictable, and it is therefore possible that the eventual outcome of such claims and litigation could exceed the estimated reserves, if any. However, we do not expect the outcome of the matters currently pending will have a material adverse effect on our financial statements.</div>

BUSINESS SEGMENTS AND GEOGRAPHIC AREAS<div style="margin-top:9pt">Business Segments</div><div>We operate in two business segments: Consumer and Flavor Solutions. The Consumer and Flavor Solutions segments manufacture, market and distribute herbs, spices, 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,” “Lawry’s,” “Zatarain’s,” “Simply Asia,” “Thai Kitchen,” “Ducros,” “Vahiné,” "Cholula," “Schwartz,” “Club House,” “Kamis,” "DaQiao," "La Drogheria," "Stubb's," "OLD BAY," 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 where foodservice sales are managed by and reported in our Consumer segment.</div><div> </div><div>Our CODM is our Chairman, President & Chief Executive Officer. Our CODM uses operating income excluding special charges and transaction and integration expenses related to our acquisitions to manage segment performance and allocate resources across segments and considers variances of actual performance to our annual budget and periodic forecasts as well as year over year performance when making decisions. Special charges and transaction and integration expenses are excluded from operating income in our internal reporting to the CODM as this activity is managed separately from the business segments. Activity related to special charges, including transaction and integration expenses, is described in Note 2. Transaction and integration expenses include the amortization of the acquisition-date fair value adjustment of inventories included in cost of goods sold, costs directly associated with that acquisition and costs associated with integrating the businesses</div><div> </div><div>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. As a result, jointly utilized assets, including fixed assets, and depreciation and amortization expense are not maintained by individual segment. Depreciation and amortization expense is allocated to the segments except for amounts that are recognized in interest.</div><div> </div><div>We have a large number of customers for our products. Sales to one of our Consumer segment customers, Wal-Mart Stores, Inc., accounted for approximately 12% of consolidated sales in 2025, 2024, and 2023. Sales to one of our Flavor Solutions segment customers, PepsiCo, Inc., accounted for approximately 12%, 13%, and 13% of consolidated sales in 2025, 2024, and 2023, respectively. </div><div style="margin-top:9pt">Accounting policies for measuring segment operating income and assets are consistent with those described in Note 1. Because of integrated manufacturing for certain products within the segments, products are not sold from one segment to another but rather inventory is transferred at cost. Inter-segment transfers are not material. Corporate assets include cash, deferred taxes, investments, and certain fixed assets.</div><div style="margin-top:9pt">Business Segment Results<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:41.151%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.449%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.449%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.449%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.449%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.453%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">(millions)</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Consumer</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Flavor Solutions</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Total segments</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Corporate & other</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Total</td></tr><tr><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">2025</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:top">Net sales</td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">3,950.3 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">2,890.0 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">6,840.3 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">6,840.3 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt 2px 14.5pt;text-align:left;text-indent:-13.5pt;vertical-align:top">Cost of goods sold excluding special charges</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,187.4 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,058.6 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4,246.0 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4,246.0 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt 2px 14.5pt;text-align:left;text-indent:-13.5pt;vertical-align:top">SG&A expense</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,028.0 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">472.3 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,500.3 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,500.3 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt 2px 14.5pt;text-align:left;text-indent:-13.5pt;vertical-align:top">Operating income excluding special charges</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">734.9 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">359.1 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,094.0 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,094.0 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:top">Income from unconsolidated operations</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">68.7 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3.5 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">72.2 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">72.2 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:top">Assets</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">12,511.6 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">688.8 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">13,200.4 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:top">Capital expenditures</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">176.4 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">45.4 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">221.8 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:top">Depreciation and amortization</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">227.2 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4.1 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">231.3 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">2024</td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Net sales</td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">3,848.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">2,875.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">6,723.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">6,723.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 14.5pt;text-align:left;text-indent:-13.5pt;vertical-align:top">Cost of goods sold</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,074.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,058.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4,132.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4,132.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 14.5pt;text-align:left;text-indent:-13.5pt;vertical-align:top">SG&A expense</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,034.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">487.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,521.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,521.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 14.5pt;text-align:left;text-indent:-13.5pt;vertical-align:top">Operating income excluding special charges</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">740.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">329.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,069.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,069.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Income from unconsolidated operations</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">71.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">74.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">74.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Assets</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">12,359.4 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">710.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">13,070.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Capital expenditures</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">234.1 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">40.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">274.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Depreciation and amortization</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">204.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4.1 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">208.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">2023</td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Net sales</td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">3,807.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">2,854.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">6,662.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">6,662.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 14.5pt;text-align:left;text-indent:-13.5pt;vertical-align:top">Cost of goods sold</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,044.4 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,115.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4,159.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4,159.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 14.5pt;text-align:left;text-indent:-13.5pt;vertical-align:top">SG&A expense</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,027.4 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">450.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,478.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,478.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 14.5pt;text-align:left;text-indent:-13.5pt;vertical-align:top">Operating income excluding special charges</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">735.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">288.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,024.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,024.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Income from unconsolidated operations</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">54.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">56.4 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">56.4 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Assets</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">12,233.1 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">629.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">12,862.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Capital expenditures</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">234.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">29.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">263.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Depreciation and amortization</td><td colspan="2" style="border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">194.8 </td><td style="border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4.5 </td><td style="border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">199.3 </td><td style="border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div> </div><div>A reconciliation of cost of goods sold excluding special charges and operating income excluding special charges to cost of goods sold and operating income for 2025, 2024, and 2023 is as follows:</div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.415%"><tr><td style="width:1.0%"></td><td style="width:53.605%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.458%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.535%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.458%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.535%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.609%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">(millions)</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Consumer</td><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Flavor Solutions</td><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Total</td></tr><tr><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">2025</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:top">Cost of goods sold excluding special charges</td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">2,187.4 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">2,058.6 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">4,246.0 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:top">Special charges</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1.3 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.8 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2.1 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Cost of goods sold</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">2,188.7 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">2,059.4 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">4,248.1 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Operating income excluding special charges</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">734.9 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">359.1 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">1,094.0 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:top">Less: Special charges</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">13.6 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">9.6 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">23.2 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Operating income</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">721.3 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">349.5 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">1,070.8 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"> </td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">2024</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Operating income excluding special charges</td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">740.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">329.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">1,069.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Less: Special charges</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3.4 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">6.1 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">9.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">Operating income</td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">736.9 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">323.4 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">1,060.3 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:14pt"><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">2023</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Operating income excluding special charges expenses</td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">735.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">288.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">1,024.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Less: Special charges</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">35.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">25.4 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">61.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">Operating income</td><td style="border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">699.7 </td><td style="border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:0 1pt"></td><td style="border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">263.3 </td><td style="border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:0 1pt"></td><td style="border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">963.0 </td><td style="border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div>Total segment operating income as disclosed in the preceding table represents our consolidated operating income. The reconciliation of that operating income to income from consolidated operations before income taxes, which includes interest expense and other income, net is presented on the consolidated income statement.</div><div style="margin-top:9pt">Geographic Areas</div><div>We have net sales and long-lived assets in the following geographic areas:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:49.339%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.216%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.363%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.216%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.366%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">(millions)</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">United States</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">EMEA</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Other countries</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Total</td></tr><tr><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">2025</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:top">Net sales</td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">4,168.3 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">1,268.5 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">1,403.5 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">6,840.3 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:top">Long-lived assets</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">8,016.0 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,196.2 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">831.0 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">10,043.2 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">2024</td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Net sales</td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">4,103.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">1,239.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">1,380.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">6,723.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Long-lived assets</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">8,017.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,117.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">824.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">9,959.4 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">2023</td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Net sales</td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">4,083.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">1,212.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">1,365.6 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">6,662.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Long-lived assets</td><td colspan="2" style="border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">7,946.1 </td><td style="border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,138.6 </td><td style="border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">856.8 </td><td style="border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">9,941.5 </td><td style="border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:9pt">Long-lived assets include property, plant and equipment, goodwill and intangible assets, net of accumulated depreciation and amortization.</div><div style="margin-top:9pt">Product Categories</div><div>Our net sales by product categories consist of the following:</div><div style="margin-top:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:58.284%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.389%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.389%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.538%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">For the year ended November 30 (millions)</td><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2025</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2024</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2023</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Consumer segment:</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Spices & seasoning</td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">1,707.6 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">1,651.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">1,578.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Recipe mixes</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">439.1 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">437.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">430.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Condiments & sauces</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">950.9 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">936.6 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">921.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Regional leaders</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">852.7 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">823.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">877.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:top">Flavor Solutions segment:</td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Flavors</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,619.9 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,618.6 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,585.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Branded foodservice</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">614.1 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">615.1 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">598.4 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Custom condiments</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">329.3 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">336.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">317.1 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom">Coatings, bulk spices & herbs</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">326.7 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">304.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">353.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">Total net sales</td><td style="background-color:#e0e3f1;border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">6,840.3 </td><td style="background-color:#e0e3f1;border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">6,723.7 </td><td style="border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">6,662.2 </td><td style="border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

0.12

0.13

<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:41.151%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.449%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.449%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.449%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.449%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.453%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">(millions)</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Consumer</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Flavor Solutions</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Total segments</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Corporate & other</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Total</td></tr><tr><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">2025</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:top">Net sales</td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">3,950.3 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">2,890.0 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">6,840.3 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">6,840.3 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt 2px 14.5pt;text-align:left;text-indent:-13.5pt;vertical-align:top">Cost of goods sold excluding special charges</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,187.4 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,058.6 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4,246.0 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4,246.0 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt 2px 14.5pt;text-align:left;text-indent:-13.5pt;vertical-align:top">SG&A expense</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,028.0 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">472.3 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,500.3 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,500.3 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt 2px 14.5pt;text-align:left;text-indent:-13.5pt;vertical-align:top">Operating income excluding special charges</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">734.9 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">359.1 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,094.0 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,094.0 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:top">Income from unconsolidated operations</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">68.7 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3.5 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">72.2 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">72.2 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:top">Assets</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">12,511.6 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">688.8 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">13,200.4 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:top">Capital expenditures</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">176.4 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">45.4 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">221.8 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:top">Depreciation and amortization</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">227.2 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4.1 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">231.3 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">2024</td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Net sales</td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">3,848.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">2,875.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">6,723.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">6,723.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 14.5pt;text-align:left;text-indent:-13.5pt;vertical-align:top">Cost of goods sold</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,074.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,058.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4,132.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4,132.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 14.5pt;text-align:left;text-indent:-13.5pt;vertical-align:top">SG&A expense</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,034.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">487.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,521.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,521.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 14.5pt;text-align:left;text-indent:-13.5pt;vertical-align:top">Operating income excluding special charges</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">740.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">329.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,069.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,069.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Income from unconsolidated operations</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">71.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">74.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">74.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Assets</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">12,359.4 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">710.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">13,070.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Capital expenditures</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">234.1 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">40.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">274.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Depreciation and amortization</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">204.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4.1 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">208.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">2023</td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Net sales</td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">3,807.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">2,854.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">6,662.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">6,662.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 14.5pt;text-align:left;text-indent:-13.5pt;vertical-align:top">Cost of goods sold</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,044.4 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,115.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4,159.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4,159.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 14.5pt;text-align:left;text-indent:-13.5pt;vertical-align:top">SG&A expense</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,027.4 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">450.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,478.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,478.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 14.5pt;text-align:left;text-indent:-13.5pt;vertical-align:top">Operating income excluding special charges</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">735.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">288.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,024.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,024.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Income from unconsolidated operations</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">54.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">56.4 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">56.4 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Assets</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">12,233.1 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">629.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">12,862.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Capital expenditures</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">234.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">29.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">263.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Depreciation and amortization</td><td colspan="2" style="border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">194.8 </td><td style="border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4.5 </td><td style="border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">199.3 </td><td style="border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table>

3950300000

2890000000

6840300000

2187400000 2058600000 4246000000 4246000000

1028000000

472300000

1500300000

734900000 359100000 1094000000 1094000000

68700000

3500000

72200000

12511600000

688800000

13200400000

176400000

45400000

221800000

227200000

4100000

231300000

3848500000

2875200000

6723700000

2074200000

2058500000

4132700000

1034000000

487200000

1521200000

740300000 329500000 1069800000 1069800000

71200000

3000000.0

74200000

12359400000

710900000

13070300000

234100000

40800000

274900000

204700000

4100000

208800000

3807300000

2854900000

6662200000

2044400000

2115300000

4159700000

1027400000

450900000

1478300000

735500000 288700000 1024200000 1024200000

54700000

1700000

56400000

12233100000

629200000

12862300000

234900000

29000000.0

263900000

194800000

4500000

199300000

<div>A reconciliation of cost of goods sold excluding special charges and operating income excluding special charges to cost of goods sold and operating income for 2025, 2024, and 2023 is as follows:</div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.415%"><tr><td style="width:1.0%"></td><td style="width:53.605%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.458%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.535%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.458%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.535%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.609%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">(millions)</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Consumer</td><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Flavor Solutions</td><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Total</td></tr><tr><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">2025</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:top">Cost of goods sold excluding special charges</td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">2,187.4 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">2,058.6 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">4,246.0 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:top">Special charges</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1.3 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.8 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2.1 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Cost of goods sold</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">2,188.7 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">2,059.4 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">4,248.1 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Operating income excluding special charges</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">734.9 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">359.1 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">1,094.0 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:top">Less: Special charges</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">13.6 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">9.6 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">23.2 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Operating income</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">721.3 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">349.5 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">1,070.8 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"> </td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">2024</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Operating income excluding special charges</td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">740.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">329.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">1,069.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Less: Special charges</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3.4 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">6.1 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">9.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">Operating income</td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">736.9 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">323.4 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">1,060.3 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:14pt"><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">2023</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Operating income excluding special charges expenses</td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">735.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">288.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">1,024.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Less: Special charges</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">35.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">25.4 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">61.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">Operating income</td><td style="border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">699.7 </td><td style="border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:0 1pt"></td><td style="border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">263.3 </td><td style="border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:0 1pt"></td><td style="border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">963.0 </td><td style="border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

2187400000 2058600000 4246000000 1300000 800000 2100000

2188700000

2059400000

4248100000

734900000 359100000 1094000000 13600000 9600000 23200000

721300000

349500000

1070800000

740300000 329500000 1069800000 3400000 6100000 9500000

736900000

323400000

1060300000

735500000 288700000 1024200000 35800000 25400000 61200000

699700000

263300000

963000000.0

<div>We have net sales and long-lived assets in the following geographic areas:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:49.339%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.216%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.363%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.216%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.366%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">(millions)</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">United States</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">EMEA</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Other countries</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Total</td></tr><tr><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">2025</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:top">Net sales</td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">4,168.3 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">1,268.5 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">1,403.5 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">6,840.3 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:top">Long-lived assets</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">8,016.0 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,196.2 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">831.0 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">10,043.2 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">2024</td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Net sales</td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">4,103.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">1,239.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">1,380.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">6,723.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Long-lived assets</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">8,017.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,117.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">824.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">9,959.4 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">2023</td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Net sales</td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">4,083.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">1,212.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">1,365.6 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">6,662.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Long-lived assets</td><td colspan="2" style="border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">7,946.1 </td><td style="border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,138.6 </td><td style="border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">856.8 </td><td style="border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">9,941.5 </td><td style="border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:9pt">Long-lived assets include property, plant and equipment, goodwill and intangible assets, net of accumulated depreciation and amortization.</div>

4168300000

1268500000

1403500000

6840300000

8016000000

1196200000

831000000.0

10043200000

4103900000

1239300000

1380500000

6723700000

8017900000

1117000000

824500000

9959400000

4083800000

1212800000

1365600000

6662200000

7946100000

1138600000

856800000

9941500000

<div>Our net sales by product categories consist of the following:</div><div style="margin-top:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:58.284%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.389%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.389%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.538%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">For the year ended November 30 (millions)</td><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2025</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2024</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2023</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Consumer segment:</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Spices & seasoning</td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">1,707.6 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">1,651.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">1,578.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Recipe mixes</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">439.1 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">437.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">430.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Condiments & sauces</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">950.9 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">936.6 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">921.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Regional leaders</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">852.7 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">823.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">877.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:top">Flavor Solutions segment:</td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Flavors</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,619.9 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,618.6 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,585.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Branded foodservice</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">614.1 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">615.1 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">598.4 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Custom condiments</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">329.3 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">336.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">317.1 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom">Coatings, bulk spices & herbs</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">326.7 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">304.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">353.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">Total net sales</td><td style="background-color:#e0e3f1;border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">6,840.3 </td><td style="background-color:#e0e3f1;border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">6,723.7 </td><td style="border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">6,662.2 </td><td style="border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

1707600000

1651000000

1578300000

439100000

437700000

430500000

950900000

936600000

921000000.0

852700000

823200000

877500000

1619900000

1618600000

1585700000

614100000

615100000

598400000

329300000

336800000

317100000

326700000

304700000

353700000

6840300000

6723700000

6662200000

SUPPLEMENTAL FINANCIAL STATEMENT DATA<div style="margin-bottom:9pt;margin-top:5pt">Supplemental consolidated information with respect to our income statement, balance sheet, and cash flow follow:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:58.284%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.389%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.389%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.538%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">For the year ended November 30 (millions)</td><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2025</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2024</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2023</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Other income, net</td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Interest income</td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">40.1 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">45.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">36.6 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Pension and other postretirement benefit income</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4.8 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">8.4 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">10.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Other</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(6.5)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(6.9)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(3.4)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:0 1pt"></td><td style="background-color:#e0e3f1;border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">38.4 </td><td style="background-color:#e0e3f1;border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">47.4 </td><td style="border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">43.9 </td><td style="border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table> </div><div style="margin-top:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:59.385%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.199%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.327%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.689%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">At November 30 (millions)</td><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2025</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2024</td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Trade accounts receivable allowance for doubtful accounts</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">4.1 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">4.7 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Inventories</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Finished products</td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">629.1 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">618.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Raw materials and work-in-process</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">642.9 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">621.6 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top"> </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">1,272.0 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">1,239.9 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Prepaid expenses</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">53.2 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">51.5 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Other current assets</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">88.1 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">74.1 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top"> </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">141.3 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">125.6 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Property, plant and equipment</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Land and improvements</td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">98.6 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">94.1 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Buildings (including finance leases)</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">925.1 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">835.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Machinery, equipment and other</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,747.5 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,571.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Construction-in-progress</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">186.8 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">247.1 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Accumulated depreciation</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(1,509.2)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(1,335.2)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top"> </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">1,448.8 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">1,413.0 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Other long-term assets</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Investments in affiliates</td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">167.8 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">152.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Long-term investments</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">132.9 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">130.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Right of use asset</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">216.8 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">211.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt">Software, net of accumulated amortization of $307.1 for 2025 and $288.4 for 2024</div></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">208.7 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">179.1 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Pension asset</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">147.3 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">122.4 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Other</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">145.6 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">176.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top"> </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">1,019.1 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">971.9 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Other accrued liabilities</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Payroll and employee benefits</td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">168.2 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">192.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Sales allowances</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">228.8 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">206.4 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Dividends payable</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">128.9 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">120.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Other</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">386.4 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">376.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top"> </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">912.3 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">896.4 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Other long-term liabilities</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Pension</td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">79.1 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">84.4 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Postretirement benefits</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">39.3 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">40.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Operating lease liability</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">167.7 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">166.6 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Other</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">142.4 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">145.1 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top"> </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">428.5 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">436.6 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div> <table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:58.284%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.389%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.389%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.538%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">For the year ended November 30 (millions)</td><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2025</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2024</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2023</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Depreciation</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">163.2 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">143.3 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">135.3 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Software amortization</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">24.3 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">21.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">19.1 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Interest paid</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">192.8 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">210.1 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">203.6 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Income taxes paid</td><td colspan="2" style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">239.6 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">221.0 </td><td style="border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">118.3 </td><td style="border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:9pt">Dividends paid per share were $1.80 in 2025, $1.68 in 2024, and $1.56 in 2023. Dividends declared per share were $1.83 in 2025, $1.71 in 2024, and $1.59 in 2023.</div>

<div style="margin-bottom:9pt;margin-top:5pt">Supplemental consolidated information with respect to our income statement, balance sheet, and cash flow follow:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:58.284%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.389%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.389%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.538%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">For the year ended November 30 (millions)</td><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2025</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2024</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2023</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Other income, net</td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Interest income</td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">40.1 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">45.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">36.6 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Pension and other postretirement benefit income</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4.8 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">8.4 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">10.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Other</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(6.5)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(6.9)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(3.4)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:0 1pt"></td><td style="background-color:#e0e3f1;border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">38.4 </td><td style="background-color:#e0e3f1;border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">47.4 </td><td style="border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">43.9 </td><td style="border-bottom:1pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table> </div><div style="margin-top:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:59.385%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.199%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.327%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.689%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">At November 30 (millions)</td><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2025</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2024</td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Trade accounts receivable allowance for doubtful accounts</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">4.1 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">4.7 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Inventories</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Finished products</td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">629.1 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">618.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Raw materials and work-in-process</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">642.9 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">621.6 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top"> </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">1,272.0 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">1,239.9 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Prepaid expenses</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">53.2 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">51.5 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Other current assets</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">88.1 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">74.1 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top"> </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">141.3 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">125.6 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Property, plant and equipment</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Land and improvements</td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">98.6 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">94.1 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Buildings (including finance leases)</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">925.1 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">835.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Machinery, equipment and other</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,747.5 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,571.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Construction-in-progress</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">186.8 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">247.1 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Accumulated depreciation</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(1,509.2)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(1,335.2)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top"> </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">1,448.8 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">1,413.0 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Other long-term assets</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Investments in affiliates</td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">167.8 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">152.2 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Long-term investments</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">132.9 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">130.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Right of use asset</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">216.8 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">211.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt">Software, net of accumulated amortization of $307.1 for 2025 and $288.4 for 2024</div></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">208.7 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">179.1 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Pension asset</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">147.3 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">122.4 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Other</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">145.6 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">176.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top"> </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">1,019.1 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">971.9 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Other accrued liabilities</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Payroll and employee benefits</td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">168.2 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">192.8 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Sales allowances</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">228.8 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">206.4 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Dividends payable</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">128.9 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">120.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Other</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">386.4 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">376.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top"> </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">912.3 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">896.4 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Other long-term liabilities</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Pension</td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">79.1 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">84.4 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Postretirement benefits</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">39.3 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">40.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Operating lease liability</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">167.7 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">166.6 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Other</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">142.4 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">145.1 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top"> </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">428.5 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">436.6 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div> <table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:58.284%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.389%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.389%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.538%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">For the year ended November 30 (millions)</td><td colspan="3" style="background-color:#e0e3f1;border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2025</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2024</td><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:middle">2023</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Depreciation</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">163.2 </td><td style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">143.3 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">135.3 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Software amortization</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">24.3 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">21.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">19.1 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Interest paid</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">192.8 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">210.1 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">203.6 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Income taxes paid</td><td colspan="2" style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">239.6 </td><td style="background-color:#e0e3f1;border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">221.0 </td><td style="border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #00539b;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">118.3 </td><td style="border-bottom:2pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

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false false false false Ernst & Young LLP Baltimore, Maryland 42 true <div style="margin-top:9pt;text-align:center">Supplemental Financial Schedule II Consolidated</div><div style="margin-top:9pt;text-align:center">McCORMICK & COMPANY, INCORPORATED</div><div style="text-align:center">VALUATION AND QUALIFYING ACCOUNTS</div><div style="text-align:center">(IN MILLIONS)<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:38.081%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.034%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.034%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.034%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.034%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.183%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Column A</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Column B</td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Column C Additions</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Column D</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Column E</td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">Description</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Balance at beginning of period</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Charged to costs and expenses</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Charged to other accounts</td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Deductions (1)</div></td><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:center;vertical-align:bottom">Balance at end of period</td></tr><tr><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">Deducted from asset accounts:</td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;border-top:1pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt">Year ended November 30, 2025:</div></td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td><td colspan="3" style="background-color:#e0e3f1;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top">Allowance for doubtful receivables</td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">4.7 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">(0.2)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">(0.1)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">(0.3)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#e0e3f1;padding:2px 0;text-align:right;vertical-align:bottom">4.1 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e0e3f1;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom">Valuation allowance on net deferred tax assets</td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">33.5 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">9.9 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.5 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(2.8)</td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e0e3f1;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">41.1 </td><td style="background-color:#e0e3f1;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:right;vertical-align:bottom"> </td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">38.2 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">9.7 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">0.4 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">(3.1)</td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">45.2 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:bottom">Deducted from asset accounts:</td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt">Year ended November 30, 2024:</div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top">Allowance for doubtful receivables</td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">5.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">0.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">(1.2)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">(0.3)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">4.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom">Valuation allowance on net deferred tax assets</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">25.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">8.0 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">0.1 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(0.5)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">33.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #00539b;padding:0 1pt"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">31.8 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">8.3 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">(1.1)</td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">(0.8)</td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">38.2 </td><td style="border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #00539b;padding:2px 1pt;text-align:left;vertical-align:top">Deducted from asset accounts:</td><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #00539b;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt">Year ended November 30, 2023:</div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top">Allowance for doubtful receivables</td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">7.3 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">(0.7)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">(1.2)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">0.5 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">5.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top">Valuation allowance on net deferred tax assets</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">26.4 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3.7 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(4.2)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">25.9 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:0 1pt"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">33.7 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">3.0 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">(1.2)</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">(3.7)</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 0;text-align:right;vertical-align:bottom">31.8 </td><td style="border-bottom:2pt solid #00539b;border-top:1pt solid #00539b;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

4700000

-200000

100000

300000

4100000

33500000

9900000

-500000

2800000

41100000

38200000

9700000

-400000

3100000

45200000

5900000

300000

1200000

300000

4700000

25900000

8000000.0

-100000

500000

33500000

31800000

8300000

1100000

800000

38200000

7300000

-700000

1200000

-500000

5900000

26400000

3700000

4200000

25900000

33700000

3000000.0

1200000

3700000

31800000