| Schedule of other nonoperating income (expense) |
The following table summarizes significant components of
“Other income (expense), net”:
|
|
|
|
|
|
|
|
|
| |
|
Three Months Ended |
|
| |
|
February 26,
2017 |
|
|
February 28,
2016 |
|
| |
|
(Dollars in
thousands) |
|
|
Foreign exchange management (losses) gains(1)
|
|
$ |
(10,244 |
) |
|
$ |
3,736 |
|
|
Foreign currency transaction gains (losses)(2)
|
|
|
9,676 |
|
|
|
(8,203 |
) |
|
Interest income
|
|
|
617 |
|
|
|
209 |
|
|
Investment income
|
|
|
353 |
|
|
|
708 |
|
|
Other
|
|
|
6 |
|
|
|
1,331 |
|
|
|
|
|
|
|
|
|
|
|
Total other income (expense), net
|
|
$ |
408 |
|
|
$ |
(2,219 |
) |
|
|
|
|
|
|
|
|
|
| (1) |
Gains and losses on forward foreign
exchange contracts primarily result from currency fluctuations
relative to negotiated contract rates. Losses in the three-month
period ended February 26, 2017 were primarily due to
unfavorable currency fluctuations relative to negotiated contract
rates on positions to sell the Mexican Peso. Gains in the
three-month period ended 2016 were primarily due to favorable
currency fluctuations relative to negotiated contract rates on
positions to sell the Mexican Peso, partially offset by unfavorable
currency fluctuations relative to negotiated contract rates on
positions to sell the Euro. |
| (2) |
Foreign currency transaction gains
and losses reflect the impact of foreign currency fluctuation on
the Company’s foreign currency denominated balances. Gains in
2017 were primarily due to the strengthening of the Mexican Peso
and Euro against the US dollar. Losses in 2016 were primarily due
to the weakening of various foreign currencies against the
Euro. |
|
The following table summarizes significant components of
“Other income (expense), net”:
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Year Ended |
|
| |
|
November 27,
2016 |
|
|
November 29,
2015 |
|
|
November 30,
2014 |
|
| |
|
(Dollars in
thousands) |
|
|
Foreign exchange management gains (losses)(1)
|
|
$ |
15,860 |
|
|
$ |
34,106 |
|
|
$ |
(11,104 |
) |
|
Foreign currency transaction (losses) gains(2)
|
|
|
(7,166 |
) |
|
|
(64,161 |
) |
|
|
(15,331 |
) |
|
Interest income
|
|
|
1,376 |
|
|
|
1,253 |
|
|
|
1,930 |
|
|
Investment income
|
|
|
976 |
|
|
|
697 |
|
|
|
562 |
|
|
Other(3)
|
|
|
7,177 |
|
|
|
2,672 |
|
|
|
1,886 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total other income (expense), net
|
|
$ |
18,223 |
|
|
$ |
(25,433 |
) |
|
$ |
(22,057 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
| (1) |
Gains and losses on forward foreign
exchange contracts primarily result from currency fluctuations
relative to negotiated contract rates. Gains in 2016 and 2015 were
primarily due to favorable currency fluctuations relative to
negotiated contract rates on positions to sell the Mexican Peso.
Losses in 2014 were primarily due to unfavorable currency
fluctuations on embedded foreign currency derivatives in certain of
the Company’s operating leases in Russia. |
| (2) |
Foreign currency transaction gains
and losses reflect the impact of foreign currency fluctuation on
the Company’s foreign currency denominated balances. Losses
in 2016, 2015 and 2014 were primarily due to the weakening of
various currencies against the U.S. Dollar. |
| (3) |
Income in 2016 principally relates to
business insurance recoveries. |
|