Document_and_Entity_Informatio
Document and Entity Information Document (USD $) | 12 Months Ended | ||
Nov. 30, 2013 | Jan. 20, 2014 | Jun. 01, 2013 | |
Entity Information [Line Items] | ' | ' | ' |
Entity Registrant Name | 'CLARCOR INC. | ' | ' |
Entity Central Index Key | '0000020740 | ' | ' |
Current Fiscal Year End Date | '--11-30 | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' |
Document Type | '10-K | ' | ' |
Document Period End Date | 30-Nov-13 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Amendment Flag | 'false | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 50,397,645 | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Public Float | ' | ' | $2,683,117,797 |
Consolidated_Statement_of_Earn
Consolidated Statement of Earnings (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Nov. 30, 2013 | Dec. 01, 2012 | Dec. 03, 2011 |
Net sales | $1,130,770 | $1,121,765 | $1,126,601 |
Cost of sales | 760,561 | 741,433 | 743,180 |
Gross profit | 370,209 | 380,332 | 383,421 |
Selling and administrative expenses | 195,593 | 197,618 | 202,154 |
Operating profit | 174,616 | 182,714 | 181,267 |
Other income (expense): | ' | ' | ' |
Interest expense | -615 | -527 | -469 |
Interest income | 690 | 600 | 649 |
Other, net | -391 | 210 | -139 |
Total other income (expense) | -316 | 283 | 41 |
Earnings before income taxes | 174,300 | 182,997 | 181,308 |
Provision for income taxes | 55,950 | 59,657 | 56,947 |
Net earnings | 118,350 | 123,340 | 124,361 |
Net earnings attributable to noncontrolling interests, net of tax | -274 | -354 | -358 |
Net earnings attributable to CLARCOR Inc. | $118,076 | $122,986 | $124,003 |
Net earnings per common share attributable to CLARCOR Inc. - Basic (in dollars per share) | $2.36 | $2.45 | $2.46 |
Net earnings per common share attributable to CLARCOR Inc. - Diluted (in dollars per share) | $2.34 | $2.42 | $2.42 |
Weighted average number of shares outstanding - Basic (in shares) | 49,988,577 | 50,285,480 | 50,501,842 |
Weighted average number of shares outstanding - Diluted (in shares) | 50,538,947 | 50,882,191 | 51,191,435 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Earnings (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Nov. 30, 2013 | Dec. 01, 2012 | Dec. 03, 2011 |
Statement of Comprehensive Income [Abstract] | ' | ' | ' |
Net earnings | $118,350 | $123,340 | $124,361 |
Pension and other postretirement benefits -- | ' | ' | ' |
Pension and other postretirement benefits liability adjustments | 33,315 | -10,240 | -12,268 |
Pension and other postretirement benefits liability adjustments tax amounts | -12,286 | 4,006 | 4,654 |
Pension and other postretirement benefits liability adjustments, net of tax | 21,029 | -6,234 | -7,614 |
Foreign currency translation -- | ' | ' | ' |
Translation adjustments | 918 | -1,085 | -2,010 |
Translation adjustments tax amounts | 0 | 0 | 0 |
Translation adjustments, net of tax | 918 | -1,085 | -2,010 |
Comprehensive earnings | 140,297 | 116,021 | 114,737 |
Comprehensive earnings attributable to non-redeemable noncontrolling interests | -245 | -155 | -95 |
Comprehensive earnings attributable to redeemable noncontrolling interests | -82 | -197 | 11 |
Comprehensive earnings attributable to CLARCOR Inc. | $139,970 | $115,669 | $114,653 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Nov. 30, 2013 | Dec. 01, 2012 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $411,562 | $185,496 |
Restricted cash | 763 | 566 |
Accounts receivable, less allowance for losses of $9,183 for 2013 and $9,554 for 2012 | 224,829 | 214,474 |
Inventories | 218,786 | 211,251 |
Deferred income taxes | 25,313 | 34,693 |
Income taxes receivable | 1,000 | 0 |
Prepaid expenses and other current assets | 9,868 | 8,114 |
Total current assets | 892,121 | 654,594 |
Property, plant and equipment, at cost, less accumulated depreciation | 208,953 | 195,101 |
Assets held for sale | 0 | 2,000 |
Goodwill | 241,299 | 241,924 |
Acquired intangibles, less accumulated amortization | 89,881 | 95,681 |
Other noncurrent assets | 16,589 | 16,202 |
Total assets | 1,448,843 | 1,205,502 |
Current liabilities: | ' | ' |
Current portion of long-term debt | 50,223 | 201 |
Accounts payable and accrued liabilities | 157,538 | 172,262 |
Income taxes payable | 0 | 2,428 |
Total current liabilities | 207,761 | 174,891 |
Long-term debt, less current portion | 116,413 | 16,391 |
Long-term pension and postretirement healthcare benefits liabilities | 19,792 | 50,680 |
Deferred income taxes | 64,415 | 51,385 |
Other long-term liabilities | 5,753 | 8,571 |
Total liabilities | 414,134 | 301,918 |
Contingencies | ' | ' |
Redeemable noncontrolling interests | 1,836 | 1,754 |
SHAREHOLDERS' EQUITY | ' | ' |
Preferred, par value $1, authorized 5,000,000 shares, none issued | 0 | 0 |
Common, par value $1, authorized 120,000,000 shares, issued 50,370,541 for 2013 and 49,652,737 for 2012 | 50,371 | 49,653 |
Capital in excess of par value | 22,278 | 0 |
Accumulated other comprehensive loss | -29,814 | -51,708 |
Retained earnings | 989,013 | 902,899 |
Total CLARCOR Inc. equity | 1,031,848 | 900,844 |
Noncontrolling interests | 1,025 | 986 |
Total shareholders' equity | 1,032,873 | 901,830 |
Total liabilities and shareholders' equity | $1,448,843 | $1,205,502 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parentheticals) (USD $) | Nov. 30, 2013 | Dec. 01, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Allowance for Doubtful Accounts Receivable, Current | $9,183 | $9,554 |
Preferred Stock, Par or Stated Value Per Share | $1 | $1 |
Preferred Stock, Shares Authorized | 5,000,000 | 5,000,000 |
Preferred Stock, Shares Issued | 0 | 0 |
Common Stock, Par or Stated Value Per Share | $1 | $1 |
Common Stock, Shares Authorized | 120,000,000 | 120,000,000 |
Common Stock, Shares, Issued | 50,370,541 | 49,652,737 |
Consolidated_Statements_of_Sha
Consolidated Statements of Shareholders' Equity (USD $) | Total | Common Stock [Member] | Capital in Excess of Par Value [Member] | Accumulated Other Comprehensive Earnings (Loss) [Member] | Retained Earnings [Member] | CLARCOR Inc. [Member] | Non-redeemable noncontrolling interests [Member] | Stock Options [Member] | Stock Options [Member] | Stock Options [Member] | Stock Options [Member] | Stock Options [Member] | Stock Options [Member] | Stock Options [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] |
In Thousands, except Share data, unless otherwise specified | Common Stock [Member] | Capital in Excess of Par Value [Member] | Accumulated Other Comprehensive Earnings (Loss) [Member] | Retained Earnings [Member] | CLARCOR Inc. [Member] | Non-redeemable noncontrolling interests [Member] | Common Stock [Member] | Capital in Excess of Par Value [Member] | Accumulated Other Comprehensive Earnings (Loss) [Member] | Retained Earnings [Member] | CLARCOR Inc. [Member] | Non-redeemable noncontrolling interests [Member] | |||||||||
Stockholders' equity, including portion attributable to noncontrolling interest, beginning of period at Nov. 27, 2010 | $757,527 | $50,335 | $33,698 | ($35,041) | $707,478 | $756,470 | $1,057 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock, shares outstanding, beginning of period at Nov. 27, 2010 | ' | 50,334,776 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net earnings (excludes redeemable noncontrolling interests) | 124,351 | 0 | 0 | 0 | 124,003 | 124,003 | 348 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other comprehensive earnings (excludes redeemable noncontrolling interests) | -9,603 | 0 | 0 | -9,350 | 0 | -9,350 | -253 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Changes in noncontrolling interests ownership | -321 | 0 | 0 | 0 | 0 | 0 | -321 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock options exercised, shares | ' | 439,582 | ' | ' | ' | ' | ' | 774,661 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock options exercised, value | 3,384 | 440 | 2,944 | 0 | 0 | 3,384 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Tax benefit applicable to stock options | 5,100 | 0 | 5,100 | 0 | 0 | 5,100 | 0 | 5,100 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance and expense of stock under award plans, shares | ' | 54,346 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance and expense of stock under award plans, value | 2,001 | 54 | 1,947 | 0 | 0 | 2,001 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Purchase and retire stock, shares | -683,776 | -683,776 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Purchase and retire stock, value | -29,317 | -684 | -28,633 | 0 | 0 | -29,317 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock option expense | 4,397 | 0 | 4,397 | 0 | 0 | 4,397 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash dividends | -21,961 | 0 | 0 | 0 | -21,961 | -21,961 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stockholders' equity, including portion attributable to noncontrolling interest, end of period at Dec. 03, 2011 | 835,558 | 50,145 | 19,453 | -44,391 | 809,520 | 834,727 | 831 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock, shares outstanding, end of period at Dec. 03, 2011 | ' | 50,144,928 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net earnings (excludes redeemable noncontrolling interests) | 123,101 | 0 | 0 | 0 | 122,986 | 122,986 | 115 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other comprehensive earnings (excludes redeemable noncontrolling interests) | -7,277 | 0 | 0 | -7,317 | 0 | -7,317 | 40 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock options exercised, shares | ' | 248,374 | ' | ' | ' | ' | ' | 353,793 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock options exercised, value | 3,682 | 248 | 3,434 | 0 | 0 | 3,682 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Tax benefit applicable to stock options | 2,007 | 0 | 2,007 | 0 | 0 | 2,007 | 0 | 2,007 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance and expense of stock under award plans, shares | ' | 52,316 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance and expense of stock under award plans, value | 1,868 | 53 | 1,815 | 0 | 0 | 1,868 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Purchase and retire stock, shares | -792,881 | -792,881 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Purchase and retire stock, value | -37,320 | -793 | -31,516 | 0 | -5,011 | -37,320 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock option expense | 4,997 | 0 | 4,997 | 0 | 0 | 4,997 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other | 125 | 0 | -190 | 0 | 315 | 125 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash dividends | -24,911 | 0 | 0 | 0 | -24,911 | -24,911 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stockholders' equity, including portion attributable to noncontrolling interest, end of period at Dec. 01, 2012 | 901,830 | 49,653 | 0 | -51,708 | 902,899 | 900,844 | 986 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock, shares outstanding, end of period at Dec. 01, 2012 | ' | 49,652,737 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net earnings (excludes redeemable noncontrolling interests) | 118,333 | 0 | 0 | 0 | 118,076 | 118,076 | 257 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other comprehensive earnings (excludes redeemable noncontrolling interests) | 21,882 | 0 | 0 | 21,894 | 0 | 21,894 | -12 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock options exercised, shares | ' | 1,128,310 | ' | ' | ' | ' | ' | 1,191,752 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock options exercised, value | 32,800 | 1,128 | 31,672 | 0 | 0 | 32,800 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Tax benefit applicable to stock options | ' | ' | ' | ' | ' | ' | ' | 7,231 | 0 | 7,231 | 0 | 0 | 7,231 | 0 | 1,280 | 0 | 1,280 | 0 | 0 | 1,280 | 0 |
Issuance and expense of stock under award plans, shares | ' | 123,594 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance and expense of stock under award plans, value | 2,963 | 124 | 2,839 | 0 | 0 | 2,963 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Purchase and retire stock, shares | -534,100 | -534,100 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Purchase and retire stock, value | -27,708 | -534 | -23,956 | 0 | -3,218 | -27,708 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock option expense | 3,212 | 0 | 3,212 | 0 | 0 | 3,212 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash dividends | -28,950 | 0 | 0 | 0 | -28,744 | -28,744 | -206 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stockholders' equity, including portion attributable to noncontrolling interest, end of period at Nov. 30, 2013 | $1,032,873 | $50,371 | $22,278 | ($29,814) | $989,013 | $1,031,848 | $1,025 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock, shares outstanding, end of period at Nov. 30, 2013 | ' | 50,370,541 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated_Statements_of_Sha1
Consolidated Statements of Shareholders' Equity (Parentheticals) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Nov. 30, 2013 | Aug. 31, 2013 | Jun. 01, 2013 | Mar. 02, 2013 | Dec. 01, 2012 | Sep. 01, 2012 | Jun. 02, 2012 | Mar. 03, 2012 | Nov. 30, 2013 | Dec. 01, 2012 | Dec. 03, 2011 |
Other | ' | ' | ' | ' | ' | ' | ' | ' | ' | $125 | ' |
Cash dividends paid per common share | $0.17 | $0.14 | $0.14 | $0.14 | $0.14 | $0.12 | $0.12 | $0.12 | $0.57 | $0.50 | $0.44 |
Common Stock [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' |
Accumulated Other Comprehensive Income (Loss) [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0 | ' |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Nov. 30, 2013 | Dec. 01, 2012 | Dec. 03, 2011 |
Cash flows from operating activities: | ' | ' | ' |
Net earnings | $118,350 | $123,340 | $124,361 |
Adjustments to reconcile net earnings to net cash provided by operating activities: | ' | ' | ' |
Depreciation | 26,329 | 25,925 | 26,826 |
Amortization | 5,904 | 5,890 | 5,609 |
Other noncash items | 1,754 | -26 | 368 |
Net loss (gain) on disposition of assets | 3,862 | -725 | 452 |
Stock-based compensation expense | 5,060 | 6,226 | 5,477 |
Excess tax benefit from stock-based compensation | -8,528 | -2,007 | -5,100 |
Deferred income taxes | 1,216 | 9,272 | 9,231 |
Changes in assets and liabilities, net of business acquisitions: | ' | ' | ' |
Accounts receivable | -11,044 | -7,666 | -16,918 |
Inventories | -7,826 | -8,320 | -16,782 |
Prepaid expenses and other current assets | -1,833 | -329 | -1,864 |
Other noncurrent assets | 1,396 | -2,836 | 746 |
Accounts payable, accrued liabilities and other liabilities | 8,363 | -5,650 | -15,954 |
Pension and postretirement healthcare liabilities, net | -20,616 | -13,349 | -5,958 |
Income taxes | 12,854 | 6,104 | 9,055 |
Net cash provided by operating activities | 135,241 | 135,849 | 119,549 |
Cash flows from investing activities: | ' | ' | ' |
Restricted cash | -197 | 240 | 149 |
Business acquisitions, net of cash acquired | 0 | -5,411 | -11,121 |
Payments for purchase of property, plant and equipment | -44,651 | -36,468 | -22,486 |
Proceeds from disposition of plant assets | 3,373 | 534 | 327 |
Investment in affiliate | -615 | -1,023 | -596 |
Proceeds from insurance claims | 0 | 0 | 200 |
Net cash used in investing activities | -42,090 | -42,128 | -33,527 |
Cash flows from financing activities: | ' | ' | ' |
Borrowings under multicurrency revolving credit agreement | 50,000 | 0 | 0 |
Borrowings under term loan facility | 100,000 | 0 | 0 |
Payments on long-term debt, including business acquisition-related seller financing | -4,037 | -10,500 | -7,490 |
Payments of financing costs | -298 | -564 | 0 |
Sale of capital stock under stock option and employee purchase plans | 35,047 | 6,415 | 8,449 |
Payments for repurchase of common stock | -27,708 | -37,320 | -29,317 |
Excess tax benefit from stock-based compensation | 8,528 | 2,007 | 5,100 |
Dividend paid to noncontrolling interests | -206 | 0 | -321 |
Cash dividends paid | -28,744 | -24,911 | -21,961 |
Net cash provided by (used in) financing activities | 132,582 | -64,873 | -45,540 |
Net effect of exchange rate changes on cash | 333 | 649 | -1,505 |
Net change in cash and cash equivalents | 226,066 | 29,497 | 38,977 |
Cash and cash equivalents, beginning of period | 185,496 | 155,999 | 117,022 |
Cash and cash equivalents, end of period | 411,562 | 185,496 | 155,999 |
Cash paid during the period for interest | 374 | 397 | 300 |
Cash paid during the period for income taxes, net of refunds | $42,602 | $43,821 | $37,959 |
Basis_of_Presentation_and_Sign
Basis of Presentation and Significant Accounting Policies | 12 Months Ended | |||||||||||
Nov. 30, 2013 | ||||||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | |||||||||||
Basis of Presentation and Significant Accounting Policies | ' | |||||||||||
BASIS OF PRESENTATION AND SIGNFICIANT ACCOUNTING POLICIES | ||||||||||||
Principles of Consolidation | ||||||||||||
CLARCOR Inc. and its subsidiaries (collectively, the “Company” or “CLARCOR”) is a global provider of filtration products, filtration systems and services, and consumer and industrial packaging products. As discussed further in Note O, the Company has three reportable segments: Engine/Mobile Filtration, Industrial/Environmental Filtration and Packaging. The Consolidated Financial Statements include all domestic and foreign subsidiaries that were more than 50% owned and controlled as of each respective reporting period presented. All intercompany accounts and transactions have been eliminated. | ||||||||||||
Accounting Period | ||||||||||||
The Company's fiscal year-end is the Saturday closest to November 30, typically resulting in a fifty-two week year, but occasionally giving rise to an additional week, resulting in a fifty-three week year. The fiscal years ended November 30, 2013 and December 1, 2012 were comprised of fifty-two weeks. The fiscal year ended December 3, 2011 was a fifty-three week year. For clarity of presentation in the Consolidated Financial Statements, all fiscal years are shown to begin as of December 1 and end as of November 30. | ||||||||||||
Use of Management's Estimates | ||||||||||||
The preparation of the financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results will differ from those estimates. | ||||||||||||
Revisions to Previously Issued Financial Statements | ||||||||||||
The Company revised its Consolidated Statements of Cash Flows for the years ended November 30, 2012 and 2011 to properly reflect payments made for business acquisition-related seller financing amounts. The revisions resulted in decreases in the previously reported caption "Business acquisitions, net of cash acquired," a cash outflow from investing activities, of approximately $9,082 and $5,637 in 2012 and 2011, respectively, and increases in the caption "Payments on long-term debt, including business acquisition-related seller financing," a cash outflow from financing activities, of $9,082 and $5,637 in 2012 and 2011, respectively. The Company will also revise its Consolidated Statements of Cash Flows for the three and six-month periods ended March 2, 2013 and June 1, 2013 by approximately $2,281 and $3,811 respectively, the next time they are filed, to similarly decrease cash outflows from investing activities and increase cash outflows from financing activities. The foregoing revisions are not material to any prior periods' Consolidated Statement of Cash Flows and have no impact on the Consolidated Balance Sheets, Consolidated Statements of Shareholders' Equity, Consolidated Statements of Earnings or Consolidated Statements of Comprehensive Earnings. | ||||||||||||
Foreign Currency Translation and Transactions | ||||||||||||
Financial statements of foreign subsidiaries are translated into U.S. dollars at current rates, except that revenues, costs, expenses and cash flows are translated at average rates during each reporting period and equity accounts are translated at historical rates. Net exchange gains or losses resulting from the translation of foreign financial statements are presented in the Consolidated Statements of Comprehensive Earnings. Transaction gains and losses that arise from exchange rate fluctuations on transactions denominated in a currency other than the functional currency are included in the results of operations as incurred. Other, net, included in Other income (expense), includes net foreign currency transaction (losses) gains of $(520), $(847), and $44 in fiscal years 2013, 2012 and 2011, respectively. | ||||||||||||
Cash and Cash Equivalents and Restricted Cash | ||||||||||||
Highly liquid investments with an original maturity of three months or less when purchased and that are readily saleable are considered to be cash and cash equivalents. Restricted cash represents funds held in escrow and cash balances held by German banks as collateral for certain guarantees of overseas subsidiaries. Restricted cash classified as current corresponds to funds held in escrow that will be used within one year or guarantees that expire within one year. The Company also has $1,896 and $1,839 of noncurrent restricted cash recorded in Other noncurrent assets as of November 30, 2013 and 2012, respectively, corresponding to guarantees and escrow agreements that expire longer than one year from the dates of the Consolidated Balance Sheets. | ||||||||||||
Cash and cash equivalents and restricted cash represent financial instruments with potential credit risk. The Company mitigates the risk by investing the assets with financially strong institutions. | ||||||||||||
Derivatives | ||||||||||||
For the years ended November 30, 2013, 2012 and 2011, the Company did not enter into any material derivative contracts. | ||||||||||||
Accounts Receivable and Allowance for Losses | ||||||||||||
Trade accounts receivable are recorded at the invoiced amount and do not bear interest. Trade accounts receivable represent financial instruments with potential credit risk. The allowance for losses is the Company’s best estimate of the amount of probable credit losses in its existing accounts receivable. The Company determines the allowance based on economic conditions in the industries to which the Company sells and on historical experience by evaluating specific customer accounts for risk of loss, fluctuations in amounts owed and current payment trends. The allowances provided are estimates that may be impacted by economic and market conditions which could have an effect on future allowance requirements and results of operations. The Company reviews its allowance for doubtful accounts monthly. Past due balances over ninety days and over a specified amount are reviewed individually for collectability. Account balances are charged off against the allowance when it is probable the receivable will not be recovered. | ||||||||||||
Inventories | ||||||||||||
Inventories are valued at the lower of cost or market primarily determined on the first-in, first-out (“FIFO”) method of inventory costing, which approximates current cost. The Company periodically assesses its inventories for potential excess, slow movement and obsolescence and adjusts inventory values accordingly. Inventories are summarized as follows: | ||||||||||||
2013 | 2012 | |||||||||||
Raw materials | $ | 80,741 | $ | 75,928 | ||||||||
Work in process | 34,402 | 34,996 | ||||||||||
Finished products | 103,643 | 100,327 | ||||||||||
$ | 218,786 | $ | 211,251 | |||||||||
Property, Plant and Equipment | ||||||||||||
Depreciation is determined by the straight-line method for financial statement purposes and by the accelerated method for tax purposes. The provision for depreciation is based on the estimated useful lives of the assets (15 to 40 years for buildings and improvements, the shorter of the asset life or the life of the lease for leasehold improvements and leased equipment and 3 to 15 years for machinery and equipment). It is the Company’s policy to capitalize the cost of renewals and betterments and to charge to expense the cost of current maintenance and repairs. When property or equipment is retired or otherwise disposed of, the net book value of the asset is removed from the Company’s books and the resulting gain or loss is reflected in operating profit. | ||||||||||||
Plant assets classified as Assets held for sale are initially measured at the lesser of the assets’ carrying amount or the fair value less costs to sell. Gains or losses are recognized for any subsequent changes in the fair value less cost to sell; however, gains are only recognized to the extent of cumulative losses previously recognized. Plant assets classified as Assets held for sale are not depreciated. | ||||||||||||
Goodwill and Acquired Intangible Assets | ||||||||||||
The Company recognizes the excess of the cost of an acquired entity over the net amount assigned to assets acquired and liabilities assumed as goodwill. Goodwill is tested for impairment at the reporting unit level on an annual basis during the fourth quarter and any time events or changes in circumstances indicate that the carrying amount of goodwill and acquired intangible assets might not be recoverable. Impairment losses would be recognized whenever the implied fair value of goodwill is less than its carrying value. | ||||||||||||
The Company recognizes an acquired intangible asset apart from goodwill whenever the asset arises from contractual or other legal rights, or whenever it is capable of being separated or divided from the acquired entity and sold, transferred, licensed, rented or exchanged, either individually or in combination with a related contract, asset or liability. An intangible asset other than goodwill is amortized over its estimated useful life unless that life is determined to be indefinite. Most of the Company’s trade names and trademarks have indefinite useful lives and are subject to impairment testing. All other acquired intangible assets, including patents (average 13 year life), and other identifiable intangible assets with original lives ranging from 1 to 30 years, are being amortized using the straight-line method over the estimated periods to be benefited. The Company reviews the lives of its definite-lived intangible assets at least annually during the fourth quarter, and if necessary, impairment losses are recognized if the carrying amount of an intangible subject to amortization is not recoverable from expected future cash flows and its carrying amount exceeds its fair value. | ||||||||||||
Impairment of Long-Lived Assets | ||||||||||||
The Company determines any impairment losses based on underlying cash flows related to specific groups of acquired long-lived assets, including plant assets, associated identifiable intangible assets and goodwill, when events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. For the years ended November 30, 2013, 2012 and 2011, the Company had no significant impairment losses. | ||||||||||||
Income Taxes | ||||||||||||
The Company provides for income taxes and recognizes deferred tax liabilities and assets for the expected future tax consequences of temporary differences between the financial statement carrying amounts and the tax basis of assets and liabilities. The Company does not provide deferred taxes on unremitted foreign earnings from certain foreign affiliates that are intended to be indefinitely reinvested to finance operations and expansion outside the United States. | ||||||||||||
The Company accounts for uncertain tax positions in accordance with guidance issued by the Financial Accounting Standards Board (“FASB”). This guidance applies broadly to all tax positions taken by a company, including decisions to not report income in a tax return or to classify a transaction as tax exempt. The approach is a two-step benefit recognition model. The amount of benefit to recognize is measured as the largest amount of tax benefit that is greater than 50% likely of being ultimately realized upon settlement. The tax position is derecognized when it is no longer more likely than not of being sustained. The Company recognizes interest and penalties related to unrecognized benefits in income tax expense. | ||||||||||||
Accumulated Other Comprehensive Loss | ||||||||||||
Accumulated other comprehensive loss, net of tax, consists of foreign currency translation adjustments and pension related gains and losses, prior service costs and credits and any remaining transition amounts that have not yet been recognized through net periodic benefit costs. The components of the ending balances of Accumulated other comprehensive loss are as follows: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Pension liability, net of tax | $ | (29,878 | ) | $ | (50,890 | ) | $ | (44,656 | ) | |||
Translation adjustments, net of tax | 64 | (818 | ) | 265 | ||||||||
Accumulated other comprehensive loss | $ | (29,814 | ) | $ | (51,708 | ) | $ | (44,391 | ) | |||
Stock-based Compensation | ||||||||||||
Stock-based employee compensation cost is recognized using the fair-value based method for all awards granted on or after the beginning of fiscal year 2006. The Company issues stock option awards and restricted stock unit awards to employees and issues stock option awards and restricted stock to non-employee directors under its stock-based incentive plans. The fair value of each option grant is estimated on the date of grant using the Black-Scholes option pricing model. Compensation cost related to restricted stock units is recorded based on the market price of the Company’s common stock on the grant date. The Company recognizes compensation expense from the date of grant on a straight-line basis over a four year period or to the date retirement eligibility is achieved, whichever is shorter. For those who are already retirement eligible on the date of grant, compensation expense is recognized immediately. | ||||||||||||
Revenue Recognition | ||||||||||||
Revenue is recognized when product ownership and risk of loss have transferred to the customer or performance of services is complete and the Company has no remaining obligations regarding the transaction. Estimated discounts, rebates and sales returns are recorded as a reduction of sales in the same period revenue is recognized. Shipping and handling costs are recorded as revenue when billed to customers. The related shipping and handling expenses are included in Cost of sales. | ||||||||||||
The Company uses the percentage of completion accounting revenue recognition method for qualifying contracts under which products are manufactured to customer specifications. Approximately $42,002, $34,466 and $40,072 of the Company’s total revenue for fiscal year 2013, 2012 and 2011, respectively, was recognized under the percentage of completion accounting method. Revenue is recognized on contracts utilizing the percentage of completion method based on costs incurred as a percentage of estimated total costs. Revenue recognized on uncompleted contracts in excess of amounts billed to customers is reflected as a current asset. Amounts billed to customers in excess of revenue recognized on uncompleted contracts are reflected as a current liability. When it is estimated that a contract will result in a loss, the entire amount of the estimated loss is accrued. The effect of revisions in costs and profit estimated for contracts is reflected in the accounting period in which the facts requiring the revisions become known. | ||||||||||||
Product Warranties | ||||||||||||
The Company provides for estimated warranty costs when the related products are recorded as sales or for specific items at the time existence of the claims is known and the amounts are reasonably determinable. | ||||||||||||
Research and Development | ||||||||||||
The Company charges research and development costs, relating to the development of new products or the improvement or redesign of its existing products, to expense when incurred. These costs were approximately $11,334 in 2013, $11,811 in 2012 and $10,989 in 2011. | ||||||||||||
Insurance | ||||||||||||
Insurance coverage is obtained for certain property and casualty exposures, workers’ compensation and general liability, as well as risks that require insurance by law or contract. The Company self-insures for certain other insurable risks, primarily employee medical coverage, which the Company carries insurance for certain losses above specified amounts. Liabilities are determined using estimates, including actuarial where applicable, of the aggregate liability for claims incurred and an estimate of incurred but not reported claims, on an undiscounted basis. | ||||||||||||
Guarantees | ||||||||||||
At November 30, 2013 and 2012, the Company had letters of credit totaling $28,541 and $23,307, respectively, issued to various government agencies, primarily related to industrial revenue bonds, and to insurance companies and other entities in support of its obligations. The Company believes that no payments will be required resulting from these obligations. | ||||||||||||
In the ordinary course of business, the Company also provides routine indemnifications and other guarantees whose terms range in duration and often are not explicitly defined. The Company does not believe these will have a material impact on the results of operations or financial condition of the Company. | ||||||||||||
New Pronouncements | ||||||||||||
In February 2013, the Financial Accounting Standards Board ("FASB") issued guidance to improve the reporting of reclassifications out of accumulated other comprehensive income ("AOCI"). The amendments do not change the current requirement for reporting net income or other comprehensive income in financial statements; however, the amendments require an entity to provide information about the amounts reclassified out of AOCI by component. In addition, an entity is required to present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of AOCI by the respective line items of net income, but only if the amount reclassified is required under U.S. GAAP to be reclassified to net income in its entirety in the same reporting period. For other amounts that are not required under U.S. GAAP to be reclassified in their entirety to net income, an entity is required to cross-reference to other disclosures required under U.S. GAAP that provide additional detail about those amounts. The guidance is effective for annual and interim periods beginning after December 15, 2012, although early adoption is permitted. The Company does not expect the adoption of this guidance on the first day of fiscal year 2014 to have a material impact on the Consolidated Financial Statements. | ||||||||||||
In July 2012, the FASB issued amendments to its indefinite-lived intangible assets impairment testing guidance to simplify how entities test for indefinite-lived intangible asset impairments. The objective of the amendments is to reduce cost and complexity by providing an entity with the option to make a qualitative assessment about the likelihood that an indefinite-lived intangible asset is impaired to determine whether it should perform a quantitative impairment test. The amendments also enhance the consistency of impairment testing guidance amount long-lived asset categories by permitting an entity to assess qualitative factors to determine whether it is necessary to calculate the asset's fair value when testing an indefinite-lived intangible asset for impairment, which is equivalent to the impairment testing requirements for other long-lived assets. The amendments are effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012, although early adoption is permitted. The adoption of this guidance on the first day of fiscal year 2013 did not have a material impact on the Consolidated Financial Statements. | ||||||||||||
In September 2011, the FASB issued amendments to its goodwill impairment testing guidance to simplify how entities test for goodwill impairments. The amendments are intended to reduce complexity and cost by providing a company the option of making an initial qualitative evaluation about the likelihood of goodwill impairment in determining whether it should calculate the fair value of a reporting unit. The amendments also include examples of events and circumstances that a company should consider in evaluating whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. The amendments are effective for annual and interim goodwill impairment tests performed for fiscal years beginning after December 15, 2011, although early adoption is permitted. The adoption of this guidance on the first day of fiscal year 2013 did not have a material impact on the Consolidated Financial Statements. | ||||||||||||
In June 2011, the FASB issued amendments to its comprehensive income guidance to (a) improve the comparability, consistency and transparency of financial reporting, (b) increase the prominence of items reported in other comprehensive income and (c) facilitate the convergence of U.S. GAAP with International Financial Reporting Standards ("IFRS"). The amendments require all non-owner changes in shareholders' equity be presented either in a single continuous statement of comprehensive income or in two separate but consecutive statements. The required amendments, pursuant to the guidance, must be applied retrospectively. In December 2011, the FASB issued amendments to defer certain presentation requirements of the initial guidance. The guidance is effective for fiscal years and interim periods within those years, beginning after December 15, 2011, although early adoption is permitted. The adoption of this guidance on the first day of fiscal year 2013 resulted in the presentation of the Consolidated Statements of Comprehensive Earnings, but did not have a material effect on the Company’s financial position or results of operations. |
Business_Acquisitions_Investme
Business Acquisitions, Investments and Redeemable Noncontrolling Interests | 12 Months Ended | |||||||||||
Nov. 30, 2013 | ||||||||||||
Business Acquisitions, Investments and Redeemable Noncontrolling Interests [Abstract] | ' | |||||||||||
Business Acquisitions, Investments and Redeemable Noncontrolling Interests | ' | |||||||||||
BUSINESS ACQUISITIONS, INVESTMENTS AND REDEEMABLE NONCONTROLLING INTERESTS | ||||||||||||
Business Acquisitions | ||||||||||||
On May 9, 2012, the Company acquired 100% of the shares of Modular Engineering Company Pty Ltd. ("Modular") for $7,875. An initial payment of $5,237 was made at closing. On May 8, 2013, another installment of the purchase price in the amount of $1,530 was paid. The remaining purchase price will be paid on the second anniversary of the closing date. Modular, a manufacturer of pressure vessels, process and storage tanks and other natural gas filtration products and distributor of aftermarket elements, is located in Henderson, Western Australia. The acquisition of Modular gave the Company first-fit manufacturing capabilities in Western Australia, as well as a platform for aftermarket growth throughout the region. Modular has been combined into an existing Company subsidiary, which is part of the Company's Industrial/Environmental Filtration segment. An allocation of the purchase price for the acquisition was made to major categories of assets and liabilities. Acquired finite-lived intangible assets of $2,552 were recorded in connection with the purchase. The $5,339 excess of the initial purchase price over the estimated fair value of the assets acquired and liabilities assumed was recorded as goodwill, which is not deductible for income tax purposes. Net sales and Operating profit (loss) attributable to Modular for the years ended November 30, 2013 and 2012 were as follows: | ||||||||||||
2013 | 2012 | |||||||||||
Net sales | $ | 7,035 | $ | 5,314 | ||||||||
Operating profit (loss) | $ | (1,513 | ) | $ | 149 | |||||||
On December 29, 2010, the Company acquired 100% of the outstanding membership interests in TransWeb LLC (“TransWeb”), a privately-owned manufacturer of media used in a variety of end-use applications, including respirators and HVAC filters. Founded in 1996 and based in Vineland, New Jersey, TransWeb supplied media to a subsidiary of the Company for several years. TransWeb was acquired to expand the Company’s technology capabilities in the area of media development and to enhance the product offerings of the Company's filtration operating companies. TransWeb’s results are included in the Industrial/Environmental Filtration segment from the date of acquisition. The base purchase price to acquire TransWeb of $30,017, excluding cash acquired, included a $17,000 liability due to the former owners of TransWeb, which payment could be reduced dollar-for-dollar for qualifying costs incurred by the Company in connection with the 3M litigation (see Note L). Since the acquisition, the Company has expensed legal costs in connection with the 3M litigation and simultaneously recorded the recovery of such costs from the former owners through a reduction of the liability due to the former owners and a corresponding reduction in legal expense. As of the date of this filing, the qualifying costs incurred by the Company have exceeded $17,000, and, as such, no further payments are due to the former owners of TransWeb. The Company incurred legal charges of $2,113, $10,140 and $6,329, respectively, during the years ended November 30, 2013, 2012, and 2011 related to the 3M litigation, of which $17,000 has been applied against the $17,000 liability due to the former owners of TransWeb, and the remaining amount of $1,582 expensed and included in Selling and administrative expenses in the Consolidated Statement of Earnings for the year ended November 30, 2013. Also, a contingent liability for a potential earn-out payment to one of the former owners of $1,018 was recorded on the acquisition date at fair value by applying the income approach. During 2013, the Company reduced the fair value of the contingent earn-out payment to $0, based on changes in the projected earnings of TransWeb. Further, the Company assumed existing long term debt of $1,544, which was immediately repaid in connection with the closing, and paid the balance of the purchase price with available cash. The Company recorded $13,000 of intangible assets in connection with the acquisition, excluding goodwill, and recorded the excess of cost over the fair value of the net tangible and intangible assets acquired of $7,976 as goodwill, which is deductible for income tax purposes. The Company also incurred costs of $141 related to the acquisition which were included in Selling and administrative expenses in the Consolidated Statements of Earnings for the year ended November 30, 2011. Net sales and Operating profit (loss) attributable to TransWeb for the years ended November 30, 2013, 2012 and 2011 were as follows: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Net sales | $ | 5,400 | $ | 8,607 | $ | 13,022 | ||||||
Operating profit (loss) | $ | (2,262 | ) | $ | (378 | ) | $ | 2,552 | ||||
In December 2007, the Company purchased a distributor of engineered filtration products in Canada for $1,402 including acquisition costs. During fiscal year 2008, $811 of the purchase price was paid, $198 of the purchase price was paid during fiscal year 2009, $142 was paid during fiscal year 2010, $99 was paid during fiscal year 2011 and the remaining amount was paid during fiscal year 2012. The business is included in the Industrial/Environmental Filtration segment from the date of acquisition and is not material to the results of the Company. | ||||||||||||
During fiscal year 2010, the Company accrued $666 pursuant to the terms of the purchase agreement related to a 2006 Industrial/Environmental Filtration segment acquisition and recorded additional goodwill. The amount was paid during fiscal year 2011. A final payment of $257 was made during fiscal year 2012 based on the operating performance of the acquired entity and recorded as additional goodwill. | ||||||||||||
Investments | ||||||||||||
The Company owns 30% of BioProcess H2O LLC (“BPH”), a Rhode Island-based manufacturer of industrial waste water and water reuse filtration systems, for $4,000. During the years ended November 30, 2013 and 2012 , the Company did not make any additional investments. During the year ended November 30, 2011, the Company invested an additional $150. Of the additional amounts invested, $21 has not yet been funded and is included in Accounts payable and accrued liabilities in the accompanying Consolidated Balance Sheets. Under the terms of the agreement with BPH, the Company has the right, but not the obligation, to acquire additional ownership shares and eventually complete ownership of BPH over several years at a price based on, among other factors, BPH’s operating income. The investment, with a carrying amount of $3,097 and $3,137, at November 30, 2013 and 2012, respectively, included in Other noncurrent assets in the Consolidated Balance Sheets, is being accounted for under the equity method of accounting. The carrying amount is adjusted each period to recognize the Company’s share of the earnings or losses of BPH based on the percentage of ownership, as well as the receipt of any dividends. The Company did not receive any dividends from BPH during the years ended November 30, 2013, 2012, or 2011 The equity investment is periodically reviewed for indicators of impairment. | ||||||||||||
The Company also owns a 15.62% share in BioProcess Algae LLC (“Algae”), a Delaware-based company developing technology to grow and harvest algae which can be used to consume carbon dioxide and also be used as a renewable energy source. During the years ended November 30, 2013, 2012 and 2011, the Company invested an additional $392, $1,114 and $300, respectively, all of which the Company had funded as of November 30, 2013. The investment, with a carrying amount of $2,204 and $1,812, at November 30, 2013 and November 30, 2012, respectively, included in Other noncurrent assets, is being accounted for under the cost method of accounting. Under the cost method, the Company recognizes dividends as income when received and reviews the cost basis of the investment for impairment if factors indicate that a decrease in value of the investment has occurred. During the years ended November 30, 2013, 2012, and 2011 the Company received dividends of $0, $1,200, and $0 from Algae, which are included in Other, net, in the accompanying Consolidated Statements of Earnings. | ||||||||||||
Redeemable Noncontrolling Interests | ||||||||||||
In March 2007, the Company acquired an 80% ownership share in Sinfa SA ("SINFA"), a manufacturer of automotive and heavy-duty engine filters based in Casablanca, Morocco, which is included in the Engine/Mobile Filtration segment. As part of the purchase agreement, the Company and the noncontrolling owners each have an option to require the purchase of the remaining 20% ownership shares by the Company after December 31, 2012 which would result in SINFA becoming a wholly owned subsidiary. As of November 30, 2013, neither the Company nor the noncontrolling interest owners had exercised the purchase option. The remaining 20% of SINFA owned by the noncontrolling owners has been reported as Redeemable noncontrolling interests and classified as mezzanine equity in the Consolidated Balance Sheets. The Redeemable noncontrolling interests is reflected at its carrying value, which is greater than its estimated redemption price. The Redeemable noncontrolling interests will be accreted to the redemption price, through equity, at the point at which the redemption becomes probable. The Company has not recorded any accretion to date. |
Property_Plant_and_Equipment
Property, Plant and Equipment | 12 Months Ended | |||||||
Nov. 30, 2013 | ||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||
Property, Plant and Equipment | ' | |||||||
PROPERTY, PLANT AND EQUIPMENT | ||||||||
Property, plant and equipment included the following assets at November 30, 2013 and 2012: | ||||||||
2013 | 2012 | |||||||
Land | $ | 9,444 | $ | 9,326 | ||||
Buildings and building fixtures | 119,207 | 107,857 | ||||||
Machinery and equipment | 388,669 | 372,358 | ||||||
Construction in process | 24,420 | 20,578 | ||||||
541,740 | 510,119 | |||||||
Accumulated depreciation | (332,787 | ) | (315,018 | ) | ||||
$ | 208,953 | $ | 195,101 | |||||
At November 30, 2012, land of $398 and building and building fixtures of $1,602 related to one Kentucky plant were classified as Assets held for sale. Those assets were sold on March 29, 2013 for $2,211, resulting in a gain of $211, which is included in Cost of sales in the Consolidated Statement of Earnings for the year ended November 30, 2013. | ||||||||
During the third quarter of 2013, the Company made the decision to dispose of certain equipment at our air filtration operations, resulting in a loss of $4,631, which is included in Cost of sales in the Consolidated Statement of Earnings for the year ended November 30, 2013. | ||||||||
At November 30, 2013 and 2012, additions to property, plant and equipment totaling $1,700 and $1,668 were included in Accounts payable and accrued liabilities. During the years ended November 30, 2013 and 2012, additions to property, plant and equipment of $270 and $826, respectively, were acquired under capitalized leases. |
Goodwill_and_Acquired_Intangib
Goodwill and Acquired Intangible Assets | 12 Months Ended | |||||||||||||||
Nov. 30, 2013 | ||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||||||
Goodwill and Acquired Intangible Assets | ' | |||||||||||||||
GOODWILL AND ACQUIRED INTANGIBLE ASSETS | ||||||||||||||||
The following table reconciles the activity for goodwill by segment for fiscal years 2013 and 2012. All goodwill is stated on a gross basis, as the Company has not recorded any impairment charges against goodwill. | ||||||||||||||||
Engine/Mobile | Industrial/ | Packaging | Total | |||||||||||||
Filtration | Environmental | |||||||||||||||
Filtration | ||||||||||||||||
November 30, 2011 | $ | 21,087 | $ | 214,443 | $ | — | $ | 235,530 | ||||||||
Acquisitions | — | 5,596 | — | 5,596 | ||||||||||||
Currency translation adjustments | 506 | 292 | — | 798 | ||||||||||||
November 30, 2012 | $ | 21,593 | $ | 220,331 | $ | — | $ | 241,924 | ||||||||
Acquisitions | — | — | — | — | ||||||||||||
Currency translation adjustments | 275 | (900 | ) | — | (625 | ) | ||||||||||
November 30, 2013 | $ | 21,868 | $ | 219,431 | $ | — | $ | 241,299 | ||||||||
The Company completed an annual impairment review at each fiscal year-end and concluded there was no impairment of goodwill. In performing the impairment reviews, the Company estimated the fair values of the reporting units using a present value method that discounted future cash flows. Such valuations are sensitive to assumptions associated with cash flow growth, discount rates, terminal value and the aggregation of reporting unit components. The Company further assessed the reasonableness of these estimates by considering relevant market multiples. | ||||||||||||||||
The following table summarizes acquired intangible assets by segment. Other acquired intangible assets include parts manufacturer regulatory approvals, proprietary technology, patents and noncompete agreements. | ||||||||||||||||
Engine/Mobile | Industrial/ | Packaging | Total | |||||||||||||
Filtration | Environmental | |||||||||||||||
Filtration | ||||||||||||||||
November 30, 2013 | ||||||||||||||||
Indefinite Lived Intangibles: | ||||||||||||||||
Trademarks - indefinite lived | $ | 603 | $ | 42,058 | $ | — | $ | 42,661 | ||||||||
Finite Lived Intangibles: | ||||||||||||||||
Trademarks - finite lived, gross | 307 | 488 | — | 795 | ||||||||||||
Accumulated amortization | (104 | ) | (329 | ) | — | (433 | ) | |||||||||
Trademarks - finite lived, net | $ | 203 | $ | 159 | $ | — | $ | 362 | ||||||||
Customer relationships, gross | $ | 4,309 | $ | 45,244 | $ | — | $ | 49,553 | ||||||||
Accumulated amortization | (1,870 | ) | (20,161 | ) | — | (22,031 | ) | |||||||||
Customer relationships, net | $ | 2,439 | $ | 25,083 | $ | — | $ | 27,522 | ||||||||
Other acquired intangibles, gross | $ | 243 | $ | 39,894 | $ | — | $ | 40,137 | ||||||||
Accumulated amortization | (243 | ) | (20,558 | ) | — | (20,801 | ) | |||||||||
Other acquired intangibles, net | $ | — | $ | 19,336 | $ | — | $ | 19,336 | ||||||||
Total finite lived intangible assets, net | $ | 2,642 | $ | 44,578 | $ | — | $ | 47,220 | ||||||||
Acquired intangible assets, less accumulated amortization | $ | 3,245 | $ | 86,636 | $ | — | $ | 89,881 | ||||||||
Engine/Mobile | Industrial/ | Packaging | Total | |||||||||||||
Filtration | Environmental | |||||||||||||||
Filtration | ||||||||||||||||
November 30, 2012 | ||||||||||||||||
Indefinite Lived Intangibles: | ||||||||||||||||
Trademarks - indefinite lived | $ | 603 | $ | 41,729 | $ | — | $ | 42,332 | ||||||||
Finite Lived Intangibles: | ||||||||||||||||
Trademarks - finite lived, gross | 300 | 488 | — | 788 | ||||||||||||
Accumulated amortization | (89 | ) | (316 | ) | — | (405 | ) | |||||||||
Trademarks - finite lived, net | $ | 211 | $ | 172 | $ | — | $ | 383 | ||||||||
Customer relationships, gross | $ | 4,278 | $ | 45,517 | $ | — | $ | 49,795 | ||||||||
Accumulated amortization | (1,701 | ) | (16,813 | ) | — | (18,514 | ) | |||||||||
Customer relationships, net | $ | 2,577 | $ | 28,704 | $ | — | $ | 31,281 | ||||||||
Other acquired intangibles, gross | $ | 243 | $ | 39,885 | $ | — | $ | 40,128 | ||||||||
Accumulated amortization | (243 | ) | (18,200 | ) | — | (18,443 | ) | |||||||||
Other acquired intangibles, net | $ | — | $ | 21,685 | $ | — | $ | 21,685 | ||||||||
Total finite lived intangible assets, net | $ | 2,788 | $ | 50,561 | $ | — | $ | 53,349 | ||||||||
Acquired intangible assets, less accumulated amortization | $ | 3,391 | $ | 92,290 | $ | — | $ | 95,681 | ||||||||
The Company performed annual impairment tests on its indefinite-lived intangible assets at each fiscal year-end using the relief-from-royalty method to determine the fair value of its trademarks and trade names. There was no impairment as the fair value was greater than the carrying value for these indefinite-lived intangible assets as of these dates. In addition, the Company reassessed the useful lives and classification of identifiable finite-lived intangible assets at each year-end and determined that they continue to be appropriate. | ||||||||||||||||
Because of a decline in the net sales of our TransWeb business, in the third quarter of 2013 we also performed an impairment review of the related indefinite-lived intangible assets ($900 carrying value at August 31, 2013) and definite-lived intangible assets ($9,332 carrying value at August 31, 2013) and determined that the estimated future cash flows of the relevant asset group were sufficient to cover the carrying value and no impairment existed. We also performed an impairment review of goodwill at the related reporting unit, and determined that the estimated fair value of the reporting unit exceeded its carrying value and no impairment existed. | ||||||||||||||||
The following tables summarize actual amortization expense for the past three fiscal years and estimated amortization expense for the next five fiscal years. | ||||||||||||||||
Amortization expense for the years ended: | ||||||||||||||||
2013 | $ | 5,904 | ||||||||||||||
2012 | 5,890 | |||||||||||||||
2011 | 5,609 | |||||||||||||||
Estimated amortization expense for the next five years: | ||||||||||||||||
2014 | $ | 5,685 | ||||||||||||||
2015 | 5,623 | |||||||||||||||
2016 | 5,448 | |||||||||||||||
2017 | 5,253 | |||||||||||||||
2018 | 4,589 | |||||||||||||||
Fair_Value_Measurements
Fair Value Measurements | 12 Months Ended | |||||||||||||||
Nov. 30, 2013 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||
Fair Value Measurements | ' | |||||||||||||||
FAIR VALUE MEASUREMENTS | ||||||||||||||||
Fair Value Measurements | ||||||||||||||||
The Company measures certain assets and liabilities at fair value as discussed throughout the notes to its Consolidated Financial Statements. Fair value is the exchange price that would be received for an asset or paid to transfer a liability, an exit price, in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants. Fair value measurements are categorized in a hierarchy based upon the observability of inputs used in valuation techniques. Observable inputs are the highest level and reflect market data obtained from independent sources, while unobservable inputs are the lowest level and reflect internally developed market assumptions. The Company classifies fair value measurements by the following hierarchy: | ||||||||||||||||
• | Level 1 – Quoted active market prices for identical assets; | |||||||||||||||
• | Level 2 – Significant other observable inputs, such as quoted prices for similar (but not identical) instruments in active markets, quoted prices for identical or similar instruments in markets which are not active and model determined valuations in which all significant inputs or significant value-drivers are observable in active markets; and | |||||||||||||||
• | Level 3 – Significant unobservable inputs, such as model determined valuations in which one or more significant inputs or significant value-drivers are unobservable. | |||||||||||||||
Assets or liabilities that have recurring fair value measurements are shown below: | ||||||||||||||||
Fair Value Measurements at Reporting Date | ||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | |||||||||||||
November 30, 2013 | ||||||||||||||||
Restricted trust, included in Other noncurrent assets | ||||||||||||||||
Mutual fund investments - equities | $ | 593 | $ | 593 | $ | — | $ | — | ||||||||
Mutual fund investments - bonds | 400 | 400 | — | — | ||||||||||||
Cash and equivalents | 31 | 31 | — | — | ||||||||||||
Total restricted trust | $ | 1,024 | $ | 1,024 | $ | — | $ | — | ||||||||
TransWeb contingent earn-out, included in Other long-term liabilities | $ | — | $ | — | $ | — | $ | — | ||||||||
November 30, 2012 | ||||||||||||||||
Restricted trust, included in Other noncurrent assets | ||||||||||||||||
Mutual fund investments - equities | $ | 614 | $ | 614 | $ | — | $ | — | ||||||||
Mutual fund investments - bonds | 425 | 425 | — | — | ||||||||||||
Cash and equivalents | 31 | 31 | — | — | ||||||||||||
Total restricted trust | $ | 1,070 | $ | 1,070 | $ | — | $ | — | ||||||||
TransWeb contingent earn-out, included in Other long-term liabilities | $ | 1,292 | $ | — | $ | — | $ | 1,292 | ||||||||
There were no changes in the fair value determination methods or significant assumptions used in those methods during the year ended November 30, 2013. There were no transfers between Level 1 and Level 2 and there were no transfers into or out of Level 3 during the years ended November 30, 2013 and 2012 . The Company's policy is to recognize transfers on the actual date of transfer. The restricted trust, which is used to fund certain payments for the Company’s U.S. combined nonqualified pension plans, consists of actively traded equity and bond funds. The TransWeb contingent earn-out payment was established in connection with the acquisition of TransWeb (see Note B) and the acquisition-date estimated fair value of the earn-out payment to one of the former owners was $1,018. During 2013, the Company reduced the fair value of the contingent earn-out payment to $0, based on changes in the projected earnings of TransWeb. | ||||||||||||||||
Fair Values of Financial Instruments | ||||||||||||||||
The fair values of the Company’s financial instruments, which are cash and cash equivalents, restricted cash, accounts receivable, the restricted trust and accounts payable and accrued liabilities, approximated the carrying values of those financial instruments at both November 30, 2013 and 2012. An expected present value technique is used to estimate the fair value of long-term debt, using a model that discounts future principal and interest payments at interest rates available to the Company at the end of the period for similar debt of the same maturity. A fair value estimate of $166,288 and $16,532 for long-term debt at November 30, 2013 and 2012, respectively, is based on a Level 2 measurement using the current interest rates available to the Company for debt with similar remaining maturities. The carrying value for the long-term debt at November 30, 2013 and 2012 is $166,636 and $16,592 respectively. |
Accounts_Payable_and_Accrued_L
Accounts Payable and Accrued Liabilities | 12 Months Ended | |||||||||||
Nov. 30, 2013 | ||||||||||||
Payables and Accruals [Abstract] | ' | |||||||||||
Accounts Payable and Accrued Liabilities | ' | |||||||||||
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES | ||||||||||||
Accounts payable and accrued liabilities at November 30, 2013 and 2012 were as follows: | ||||||||||||
2013 | 2012 | |||||||||||
Accounts payable | $ | 79,164 | $ | 69,206 | ||||||||
Accrued salaries, wages and commissions | 14,908 | 16,884 | ||||||||||
Pension and postretirement healthcare benefits liabilities | 278 | 21,442 | ||||||||||
Compensated absences | 8,600 | 9,010 | ||||||||||
Accrued insurance liabilities | 7,599 | 7,733 | ||||||||||
Customer deposits | 16,081 | 14,207 | ||||||||||
Other accrued liabilities | 30,908 | 33,780 | ||||||||||
$ | 157,538 | $ | 172,262 | |||||||||
No amounts within the Other accrued liabilities amount shown above exceed 5% of total current liabilities. | ||||||||||||
Accrued pension and postretirement healthcare benefits liabilities at November 30, 2012 included $21,034 related to pension benefits payable in 2013, under our U.S. combined nonqualified pension plan, to our former Executive Chairman, who retired from the Company at the end of 2012. These amounts were paid in 2013. | ||||||||||||
Warranties are recorded as a liability on the balance sheet and as charges to current expense for estimated normal warranty costs and, if applicable, for specific performance issues known to exist on products already sold. The expenses estimated to be incurred are provided at the time of sale, or when a claim arises, and adjusted as needed, based primarily upon experience. Changes in the Company’s warranty accrual, which is included in Other accrued liabilities, for the years ended November 30, 2013, 2012 and 2011 are as follows: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Warranty accrual at beginning of period | $ | 1,533 | $ | 2,580 | $ | 3,499 | ||||||
Accruals for warranties issued during the period | 844 | 514 | 622 | |||||||||
Adjustments related to business acquisitions | — | 32 | — | |||||||||
Adjustments related to pre-existing warranties | (290 | ) | (691 | ) | (846 | ) | ||||||
Settlements made during the period | (500 | ) | (850 | ) | (316 | ) | ||||||
Other adjustments, including currency translation | 12 | (52 | ) | (379 | ) | |||||||
Warranty accrual at end of period | $ | 1,599 | $ | 1,533 | $ | 2,580 | ||||||
LongTerm_Debt
Long-Term Debt | 12 Months Ended | ||||||||
Nov. 30, 2013 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Long-Term Debt | ' | ||||||||
LONG-TERM DEBT | |||||||||
Long-term debt at November 30, 2013 and 2012 consisted of the following: | |||||||||
2013 | 2012 | ||||||||
Credit Facility: | |||||||||
Multicurrency Revolving Credit Facility | $ | 50,000 | $ | — | |||||
Multicurrency Term Loan Facility | 100,000 | — | |||||||
Industrial Revenue Bonds, at weighted average interest rates of 0.23% and 0.35%, respectively, at November 30, 2013 and 2012 | 15,820 | 15,820 | |||||||
Other long-term debt | 816 | 772 | |||||||
Total long-term debt | $ | 166,636 | $ | 16,592 | |||||
Current portion of long-term debt | $ | 50,223 | $ | 201 | |||||
Long-term debt, less current portion | $ | 116,413 | $ | 16,391 | |||||
On April 5, 2012, the Company entered into a five-year multicurrency revolving credit agreement which included a revolving credit facility (the “Credit Facility”) with a group of financial institutions. Under the Credit Facility, the Company may borrow up to $150,000 which includes a $10,000 swing line sub-facility, as well as an accordion feature that allows the Company to increase the Credit Facility by a total of up to $100,000, subject to securing additional commitments from existing lenders or new lending institutions. On November 22, 2013, the Company entered into a credit agreement amendment to include a $100,000 term loan facility (the "Term Loan Facility"), whose maturity date will be the same as the maturity date of the Credit Facility. At the Company's election, loans made under the Credit Facility and Term Loan Facility bear interest at either (1) a defined base rate, which varies with the highest of the defined prime rate, the federal funds rate, or a specified margin over the one-month London Interbank Offered Rate (“LIBOR”), or (2) LIBOR plus an applicable margin. Swing line loans bear interest at the defined base rate plus an applicable margin. Commitment fees and letter of credit fees are also payable under the Credit Facility. Borrowings under the Credit Facility and Term Loan Facility are unsecured, but are guaranteed by substantially all of the Company's material domestic subsidiaries. The credit agreement also contains certain covenants customary to such agreements, including covenants that place limits on our ability to incur additional debt, require us to maintain minimum levels of interest coverage, and restrict certain changes in ownership, as well as customary events of default. At November 30, 2013, there was $100,000 outstanding on the Term Loan Facility with a weighted average interest rate of approximately 0.92% and there was $50,000 outstanding on the Credit Facility with a weighted average interest rate of approximately 0.71% and a remaining borrowing capacity of $133,988. The Company repaid the outstanding balance on the Credit Facility on December 27, 2013. The Credit Facility includes a $50,000 letter of credit sub-facility, against which $16,012 in letters of credit had been issued at November 30, 2013 and 2012. | |||||||||
As of November 30, 2013 and 2012, industrial revenue bonds issued by the Company include $7,410 issued in cooperation with the Campbellsville-Taylor County Industrial Development Authority (Kentucky) due May 1, 2031 and $8,410 re-issued in cooperation with the South Dakota Economic Development Finance Authority due February 1, 2016. The interest rates on these bonds are reset weekly. | |||||||||
Principal maturities of long-term debt as of November 30, 2013 and for the next five fiscal years ending November 30 are as follows: | |||||||||
2014 | $ | 50,223 | |||||||
2015 | 226 | ||||||||
2016 | 8,635 | ||||||||
2017 | 100,113 | ||||||||
2018 | 29 | ||||||||
Thereafter | 7,410 | ||||||||
$ | 166,636 | ||||||||
Leases
Leases | 12 Months Ended | |||
Nov. 30, 2013 | ||||
Leases [Abstract] | ' | |||
Leases | ' | |||
LEASES | ||||
The Company has various lease agreements for offices, warehouses, manufacturing plants and equipment that expire on various dates through December 2034. Some of these lease agreements contain renewal options and provide for payment of property taxes, utilities and certain other expenses. The following table summarizes rent expense for the past three fiscal years and commitments for minimum rentals under noncancelable leases having initial or remaining terms in excess of one year at November 30, 2013. | ||||
Rent expense for the years ended: | ||||
2013 | $ | 16,124 | ||
2012 | 16,699 | |||
2011 | 16,518 | |||
Future minimum rentals under noncancelable leases: | ||||
2014 | $ | 17,221 | ||
2015 | 9,001 | |||
2016 | 5,929 | |||
2017 | 3,320 | |||
2018 | 2,089 | |||
Thereafter | 7,074 | |||
Pension_and_Other_Postretireme
Pension and Other Postretirement Plans | 12 Months Ended | |||||||||||||||
Nov. 30, 2013 | ||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | |||||||||||||||
Pension and Other Postretirement Plans | ' | |||||||||||||||
PENSION AND OTHER POSTRETIREMENT PLANS | ||||||||||||||||
The Company has defined benefit pension plans and a postretirement healthcare benefit plan covering certain current and retired employees. The Company has frozen participation in its defined benefit plans and postretirement healthcare benefit plan. For one of the plans, certain current plan participants continue to participate in the plan, while other current participants do not accrue future benefits under the plan but participate in an enhanced defined contribution plan which offers an increased Company match. | ||||||||||||||||
The Company’s policy is to contribute to its qualified U.S. and non-U.S. pension plans at least the minimum amount required by applicable laws and regulations, to contribute to the U.S. combined nonqualified plans when required for benefit payments, and to contribute to the postretirement healthcare benefit plan an amount equal to the benefit payments. The Company, from time to time, makes voluntary contributions in excess of the minimum amount required as economic conditions warrant. During 2013, 2012 and 2011, the Company made voluntary contributions to its qualified U.S. pension plans of $1,493, $15,793 and $0, respectively. The Company expects to contribute $0 to its U.S. qualified plans, $216 to its U.S. combined nonqualified plans, $409 to its non-U.S. plan and $62 to its postretirement healthcare benefit plan to pay benefits during 2014. | ||||||||||||||||
The projected benefit obligation ("PBO"), accumulated benefit obligation (“ABO”) and fair value of plan assets for qualified pension plans with PBOs and ABOs in excess of plan assets were $174,087, $168,562 and $156,384, respectively, at November 30, 2013. | ||||||||||||||||
The U.S. combined nonqualified plans are unfunded; therefore, there are no plan assets; however, the Company had funded $1,024 and $1,070 at November 30, 2013 and 2012, respectively, into a restricted trust for its U.S. combined nonqualified plans, see Note E. This trust is included in Other noncurrent assets in the Consolidated Balance Sheets. The PBO and ABO for the U.S. combined nonqualified plans were $2,012 and $1,871, at November 30, 2013, respectively. | ||||||||||||||||
A discount rate is used to calculate the present value of the PBO. The Company’s objective in selecting a discount rate is to select the best estimate of the rate at which the benefit obligations could be effectively settled on the measurement date, taking into account the nature and duration of the benefit obligations of the plan. In making this estimate, the Company looks at rates of return on high-quality fixed-income investments currently available and expected to be available during the period to maturity of the benefits. This process includes looking at the bonds available on the measurement date with a quality rating of Aa or better. Similar appropriate benchmarks are used to determine the discount rate for the non-U.S. plan. The difference in the discount rates between the qualified, the nonqualified and the other postretirement plans is due to different expectations as to the period of time in which plan members will participate in the various plans. In general, higher discount rates correspond to longer expected participation periods. The assumptions for the discount rate, rate of compensation increase and expected rate of return and the asset allocations related to the non-U.S. plan are not materially different than for the U.S. qualified plans. | ||||||||||||||||
The rate of compensation increase represents the long-term assumption for expected increases in salaries among continuing active participants accruing benefits in the pay-related plans. The Company considers the impact of profit-sharing payments, merit increases and promotions in setting the salary increase assumption as well as possible future inflation increases and its impact on salaries paid to plan participants at the locations where the Company conducts operations. | ||||||||||||||||
The following tables show reconciliations of the changes in benefit obligations and plan assets for our pension plans and other postretirement benefits plan as of November 30, 2013 and 2012. The accrued pension benefit obligation includes an unfunded benefit obligation of $2,012 and $23,337 as of November 30, 2013 and 2012, respectively, related to the Company’s U.S. combined nonqualified plans. | ||||||||||||||||
Pension Benefits | Other Postretirement Benefits | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Change in benefit obligation | ||||||||||||||||
Benefit obligation at beginning of year | $ | 217,987 | $ | 186,841 | $ | 442 | $ | 550 | ||||||||
Currency translation | 190 | 200 | — | — | ||||||||||||
Service cost | 2,485 | 2,126 | — | — | ||||||||||||
Interest cost | 6,934 | 7,715 | 9 | 17 | ||||||||||||
Plan participants' contributions | 39 | 42 | — | — | ||||||||||||
Actuarial (gains) losses | (22,472 | ) | 28,119 | (73 | ) | (189 | ) | |||||||||
Benefits paid | (29,064 | ) | (7,056 | ) | (251 | ) | (282 | ) | ||||||||
Retiree contributions | — | — | 229 | 346 | ||||||||||||
Benefit obligation at end of year | $ | 176,099 | $ | 217,987 | $ | 356 | $ | 442 | ||||||||
Pension Benefits | Other Postretirement Benefits | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Change in plan assets | ||||||||||||||||
Fair value of plan assets at beginning of year | $ | 146,307 | $ | 112,548 | $ | — | $ | — | ||||||||
Currency translation | 174 | 175 | — | — | ||||||||||||
Actual return on plan assets | 14,305 | 18,325 | — | — | ||||||||||||
Employer contributions | 24,623 | 22,273 | 251 | 282 | ||||||||||||
Plan participants' contributions | 39 | 42 | — | — | ||||||||||||
Benefits paid | (29,064 | ) | (7,056 | ) | (251 | ) | (282 | ) | ||||||||
Fair value of plan assets at end of year | $ | 156,384 | $ | 146,307 | $ | — | $ | — | ||||||||
Funded status | $ | (19,715 | ) | $ | (71,680 | ) | $ | (356 | ) | $ | (442 | ) | ||||
Accumulated benefit obligation at end of year | $ | 170,433 | $ | 209,572 | n/a | n/a | ||||||||||
Assumptions: | ||||||||||||||||
Discount rate - qualified plans | 4.50% | 3.50% | 3.00% | 2.25% | ||||||||||||
Discount rate - nonqualified plans | 3.25% | 1.75% | n/a | n/a | ||||||||||||
Rate of compensation increase - qualified plans | 4.00% | 4.00% | n/a | n/a | ||||||||||||
Rate of compensation increase - nonqualified plans | 4.00% | 4.00% | n/a | n/a | ||||||||||||
Measurement date | 11/30/13 | 11/30/12 | 11/30/13 | 11/30/12 | ||||||||||||
Pension Benefits | Other Postretirement Benefits | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Amounts recognized in the Consolidated Balance Sheets as of November 30 | ||||||||||||||||
Accounts payable and accrued liabilities | $ | (216 | ) | $ | (21,372 | ) | $ | (63 | ) | $ | (70 | ) | ||||
Long-term pension and postretirement healthcare benefits liabilities | (19,499 | ) | (50,308 | ) | (293 | ) | (372 | ) | ||||||||
Funded status | $ | (19,715 | ) | $ | (71,680 | ) | $ | (356 | ) | $ | (442 | ) | ||||
Accumulated other comprehensive loss, pre-tax | $ | 48,902 | $ | 83,392 | $ | (1,632 | ) | $ | (1,832 | ) | ||||||
Amounts recognized in Accumulated Other Comprehensive Loss, as of November 30 | ||||||||||||||||
Unrecognized net actuarial loss (gain) | $ | 48,914 | $ | 83,413 | $ | (1,037 | ) | $ | (1,114 | ) | ||||||
Unrecognized net prior service credit | (12 | ) | (21 | ) | (595 | ) | (718 | ) | ||||||||
Accumulated other comprehensive loss, pre-tax | 48,902 | 83,392 | (1,632 | ) | (1,832 | ) | ||||||||||
Deferred taxes | (17,979 | ) | (31,336 | ) | 587 | 666 | ||||||||||
Accumulated other comprehensive loss, after-tax | $ | 30,923 | $ | 52,056 | $ | (1,045 | ) | $ | (1,166 | ) | ||||||
The amounts affecting Accumulated other comprehensive loss for the years ended November 30, 2013 and 2012 are as follows: | ||||||||||||||||
Pension Benefits | Other Postretirement Benefits | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Amortization of prior service (cost) credit, net of tax of $(6), $(6) and $(44), $(45), respectively | $ | 3 | $ | 3 | $ | 79 | $ | 77 | ||||||||
Amortization of actuarial (losses) gains, net of tax of $3,060, $3,164 and $(54), $(44), respectively | (5,498 | ) | (5,159 | ) | 95 | 77 | ||||||||||
Current year actuarial losses (gains), net of tax of $9,304, $(7,143) and $26, $68, respectively | (16,637 | ) | 11,876 | (46 | ) | (120 | ) | |||||||||
Effect of change in deferred tax rate | 982 | (521 | ) | (7 | ) | 1 | ||||||||||
Total | $ | (21,150 | ) | $ | 6,199 | $ | 121 | $ | 35 | |||||||
The target allocation of invested assets for the U.S. plans is 50% equity securities and 50% debt securities. The target allocation is based on the Company’s desire to maximize total return, considering the long-term funding objectives of the pension plans, but may change in the future. Plan assets are diversified to achieve a balance between risk and return. The Company does not invest plan assets in private equity funds or hedge funds. The Company’s expected long-term rate of return considers historical returns on plan assets as well as future expectation given the current and target asset allocation and current economic conditions with input from investment managers and actuaries. The expected rate of return on plan assets is designed to be a long-term assumption that may be subject to considerable year-to-year variance from actual returns. | ||||||||||||||||
As of the November 30th measurement dates, the fair values of actual pension asset allocations were as follows: | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Equity securities | 51 | % | 60.6 | % | ||||||||||||
Debt securities | 48.7 | % | 38.9 | % | ||||||||||||
Real estate | — | % | — | % | ||||||||||||
Cash and cash equivalents | 0.3 | % | 0.5 | % | ||||||||||||
100 | % | 100 | % | |||||||||||||
The accounting guidance on fair value measurements specifies a fair value hierarchy based upon the observability of inputs used in valuation techniques (Level 1, 2 and 3). See Note E for a discussion of the fair value hierarchy. The following table summarizes the fair value of the pension plans’ assets. | ||||||||||||||||
Fair Value Measurements at Reporting Date | ||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | |||||||||||||
November 30, 2013 | ||||||||||||||||
U.S. equity securities funds | $ | 55,129 | $ | 55,129 | $ | — | $ | — | ||||||||
Non-U.S. equity securities funds | $ | 24,587 | 24,587 | — | — | |||||||||||
Fixed income securities funds | $ | 76,121 | 76,121 | — | — | |||||||||||
Cash and equivalents funds | $ | 547 | 547 | — | — | |||||||||||
Total | $ | 156,384 | $ | 156,384 | $ | — | $ | — | ||||||||
Other items to reconcile to fair value of plan assets | — | |||||||||||||||
Fair value of plan assets | $ | 156,384 | ||||||||||||||
Fair Value Measurements at Reporting Date | ||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | |||||||||||||
November 30, 2012 | ||||||||||||||||
U.S. equity securities funds | $ | 61,272 | $ | 61,272 | $ | — | $ | — | ||||||||
Non-U.S. equity securities funds | $ | 27,422 | 27,422 | — | — | |||||||||||
Fixed income securities funds | $ | 56,854 | 56,854 | — | — | |||||||||||
Cash and equivalents funds | $ | 618 | 618 | — | — | |||||||||||
Total | $ | 146,166 | $ | 146,166 | $ | — | $ | — | ||||||||
Other items to reconcile to fair value of plan assets | 141 | |||||||||||||||
Fair value of plan assets | $ | 146,307 | ||||||||||||||
U.S. equity securities funds consist primarily of large cap and small cap U.S. companies. Non-U.S. equity securities funds consist primarily of equities of non-U.S. developed markets. Funds that are traded on a national exchange are categorized as Level 1. Fixed income securities funds consist primarily of bonds such as governmental agencies, investment grade credit, commercial mortgage backed, residential mortgage backed and asset backed. Funds that are traded on a national exchange are categorized as Level 1. | ||||||||||||||||
Other items to reconcile to fair value of plan assets is the net of interest receivable, amounts due for securities sold, amounts payable for securities purchased and interest payable. | ||||||||||||||||
The following table summarizes changes in the fair value of Level 3 assets for the years ended November 30, 2013 and 2012. Such assets represent real estate funds, consisting of units of other private real estate funds, which are not traded on a national exchange. The net asset value ("NAV") for such funds is calculated on a lag of approximately 30 days by the custodian of the funds. The NAV is based on the fair value of the underlying assets owned by the fund, minus its liabilities then divided by the number of units outstanding. All holdings in real estate funds were sold during 2012, consistent with changes in the target allocation of invested assets. | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Balance at beginning of year | $ | — | $ | 3,782 | ||||||||||||
Unrealized gains | — | — | ||||||||||||||
Realized gains | — | 279 | ||||||||||||||
Sale of assets | — | (4,061 | ) | |||||||||||||
Balance at end of year | $ | — | $ | — | ||||||||||||
The components of net periodic benefit cost for pensions are shown below. Net periodic benefit cost is based on assumptions determined at the prior year-end measurement date. Increases in the liability due to changes in plan benefits are recognized in the net periodic benefit costs through straight-line amortization over the average remaining service period of employees expected to receive benefits. | ||||||||||||||||
Pension Benefits | ||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||
Components of net periodic benefit cost | ||||||||||||||||
Service cost | $ | 2,485 | $ | 2,126 | $ | 1,968 | ||||||||||
Interest cost | 6,934 | 7,715 | 8,133 | |||||||||||||
Expected return on plan assets | (10,795 | ) | (9,181 | ) | (7,674 | ) | ||||||||||
Settlement costs | 3,087 | — | 1,368 | |||||||||||||
Amortization of unrecognized: | ||||||||||||||||
Prior service cost | (9 | ) | (10 | ) | (395 | ) | ||||||||||
Net actuarial loss | 5,471 | 8,323 | 5,110 | |||||||||||||
Net periodic benefit cost | $ | 7,173 | $ | 8,973 | $ | 8,510 | ||||||||||
Assumptions: | ||||||||||||||||
Discount rate - qualified plans | 3.50% | 4.50% | 5.25% | |||||||||||||
Discount rate - nonqualified plans | 3.25% | 1.75% | 2.75% | |||||||||||||
Expected return on plan assets | 7.50% | 7.50% | 7.50% | |||||||||||||
Rate of compensation increase - qualified plans | 4.00% | 4.00% | 4.00% | |||||||||||||
Rate of compensation increase - nonqualified plans | 4.00% | 4.00% | 4.00% | |||||||||||||
Measurement date - qualified plans | 11/30/12 | 11/30/11 | 11/30/10 | |||||||||||||
Measurement date - nonqualified plans | 11/30/13 | 11/30/12 | 11/30/11 | |||||||||||||
For the determination of 2014 expense, the Company changed its assumptions as follows: (a) leave the long-term return on assets for its qualified plans unchanged, (b) increase the discount rates on its qualified plans to 4.50%, and (c) leave the rate of compensation increase unchanged. For its U.S. combined nonqualified plans, the Company expects to leave the discount rates and rate of compensation increase unchanged. | ||||||||||||||||
The changes in the fair value of plan assets, plan liabilities and in the assumptions will result in a net decrease in fiscal year 2014 expense of approximately $2,624 for the qualified U.S. pension plans. The Company also expects a net increase of approximately $187 for the U.S. combined nonqualified plans in fiscal year 2014. | ||||||||||||||||
The postretirement obligations represent a fixed dollar amount per retiree. The Company has the right to modify or terminate these benefits. The participants will assume substantially all future healthcare benefit cost increases, and future increases in healthcare costs will not increase the postretirement benefit obligation or cost to the Company. Therefore, the Company has not assumed any annual rate of increase in the per capita cost of covered healthcare benefits for future years. The Company discontinued the prescription drug benefit portion of its plan effective January 31, 2006. | ||||||||||||||||
The components of net periodic benefit income for postretirement healthcare benefits are shown below. | ||||||||||||||||
Other Postretirement Benefits | ||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||
Components of net periodic benefit income | ||||||||||||||||
Interest cost | 9 | 17 | 23 | |||||||||||||
Amortization of unrecognized: | ||||||||||||||||
Prior service cost | (122 | ) | (122 | ) | (122 | ) | ||||||||||
Net actuarial gain | (149 | ) | (121 | ) | (130 | ) | ||||||||||
Net periodic benefit income | $ | (262 | ) | $ | (226 | ) | $ | (229 | ) | |||||||
Assumptions: | ||||||||||||||||
Discount rate | 2.25 | % | 3.5 | % | 3.75 | % | ||||||||||
Measurement date | 11/30/12 | 11/30/11 | 11/30/10 | |||||||||||||
The Company froze participation in the postretirement healthcare plan to eligible retirees effective January 1, 2007. As a result, unrecognized prior service costs of $1,708 are being amortized over the average remaining years of service for active plan participants. The Company expects to increase its discount rate assumption to 3.00% in 2014 for its other postretirement benefits plan, which will not significantly affect the fiscal year 2014 expense. | ||||||||||||||||
The estimated amounts that will be amortized from Accumulated other comprehensive loss at November 30, 2013 into net periodic benefit cost, pre-tax, in fiscal year 2014 are as follows: | ||||||||||||||||
Pension | Other | |||||||||||||||
Benefits | Postretirement | |||||||||||||||
Benefits | ||||||||||||||||
Prior service cost (credit) | $ | (10 | ) | $ | (123 | ) | ||||||||||
Actuarial loss (gain) | 2,882 | (149 | ) | |||||||||||||
Total | $ | 2,872 | $ | (272 | ) | |||||||||||
The expected cash benefit payments from the plans for the next ten fiscal years are as follows: | ||||||||||||||||
Pension | Other | |||||||||||||||
Benefits | Postretirement | |||||||||||||||
Benefits | ||||||||||||||||
2014 | $ | 8,089 | $ | 62 | ||||||||||||
2015 | 8,441 | 57 | ||||||||||||||
2016 | 8,767 | 46 | ||||||||||||||
2017 | 9,212 | 38 | ||||||||||||||
2018 | 9,646 | 34 | ||||||||||||||
2019-2023 | 56,655 | 105 | ||||||||||||||
The Company also sponsors various defined contribution plans that provide employees with an opportunity to accumulate funds for their retirement. The Company may match, at its discretion, the contributions of participating employees in the respective plans. The Company recognized expense related to these plans for the past three fiscal years as follows: | ||||||||||||||||
2013 | $ | 4,482 | ||||||||||||||
2012 | 4,377 | |||||||||||||||
2011 | 3,933 | |||||||||||||||
Income_Taxes
Income Taxes | 12 Months Ended | |||||||||||
Nov. 30, 2013 | ||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||
Income Taxes | ' | |||||||||||
INCOME TAXES | ||||||||||||
The following is a reconciliation of the beginning and ending amount of gross unrecognized tax benefits for uncertain tax positions, including positions which impact only the timing of tax benefits for the years ended November 30, 2013, 2012 and 2011. | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Unrecognized tax benefits at December 1, | $ | 2,209 | $ | 3,015 | $ | 2,783 | ||||||
Additions for current period tax positions | 668 | 382 | 591 | |||||||||
Reductions for current period tax positions | — | (37 | ) | — | ||||||||
Additions for prior period tax positions | — | — | — | |||||||||
Reductions for prior period tax positions | (40 | ) | (631 | ) | (193 | ) | ||||||
Reductions for lapse of statue of limitations/settlements | (431 | ) | (460 | ) | (203 | ) | ||||||
Changes in interest and penalties | (251 | ) | (60 | ) | 37 | |||||||
Unrecognized tax benefits at November 30, | $ | 2,155 | $ | 2,209 | $ | 3,015 | ||||||
At November 30, 2013 and 2012, the amount of unrecognized tax benefit, that would impact the effective tax rate if recognized, was $1,354 and $1,533, respectively. As of November 30, 2013 and 2012, the Company had $221 and $445, respectively, accrued for the payment of interest and penalties. | ||||||||||||
The Company believes it is reasonably possible that the total amount of unrecognized tax benefits as of November 30, 2013, will decrease by $163 over the next twelve months as a result of expected settlements with taxing authorities. Due to the various jurisdictions in which the Company files tax returns and the uncertainty regarding the timing of settlements it is possible that there could be other significant changes in the amount of unrecognized tax benefits in fiscal year 2014; however, the amount cannot be estimated. | ||||||||||||
The Company is regularly audited by federal, state and foreign tax authorities. The Internal Revenue Service has completed its audits of the Company’s U.S. income tax returns through fiscal year 2009. With few exceptions, the Company is no longer subject to income tax examinations by state or foreign tax jurisdictions for years prior to 2008. | ||||||||||||
The provision for income taxes consisted of: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Current: | ||||||||||||
Federal | $ | 34,414 | $ | 37,673 | $ | 34,374 | ||||||
State | 2,918 | 2,484 | 1,558 | |||||||||
Foreign | 9,096 | 10,228 | 11,784 | |||||||||
Deferred: | ||||||||||||
Federal | 8,676 | 8,763 | 9,196 | |||||||||
State | (165 | ) | 805 | 1,086 | ||||||||
Foreign | 1,011 | (296 | ) | (1,051 | ) | |||||||
$ | 55,950 | $ | 59,657 | $ | 56,947 | |||||||
Earnings before income taxes and noncontrolling interests included the following components: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Domestic income | $ | 141,224 | $ | 145,433 | $ | 139,840 | ||||||
Foreign income | 33,076 | 37,564 | 41,468 | |||||||||
$ | 174,300 | $ | 182,997 | $ | 181,308 | |||||||
The provision for income taxes resulted in effective tax rates that differ from the statutory federal income tax rates. The reasons for these differences are as follows: | ||||||||||||
Percent of Pre-Tax Earnings | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Statutory U.S. tax rates | 35 | % | 35 | % | 35 | % | ||||||
State income taxes, net of federal benefit | 1 | 1.4 | 1.3 | |||||||||
Tax credits | (0.6 | ) | (0.1 | ) | (0.7 | ) | ||||||
Foreign taxes at different rates, net of credits | (1.6 | ) | (2.0 | ) | (2.5 | ) | ||||||
Domestic production activities deduction | (2.2 | ) | (2.6 | ) | (2.4 | ) | ||||||
Other, net | 0.5 | 0.9 | 0.7 | |||||||||
32.1 | % | 32.6 | % | 31.4 | % | |||||||
The components of the net deferred tax liability as of November 30, 2013 and 2012 were as follows: | ||||||||||||
2013 | 2012 | |||||||||||
Deferred tax assets: | ||||||||||||
Deferred compensation | $ | 7,945 | $ | 9,925 | ||||||||
Loss carryforward and tax credit items | 2,529 | 2,603 | ||||||||||
Accounts receivable | 5,973 | 5,911 | ||||||||||
Inventories | 5,000 | 5,062 | ||||||||||
Pensions | 4,781 | 26,222 | ||||||||||
Accrued liabilities and other | 1,219 | 1,403 | ||||||||||
Valuation allowance | (1,102 | ) | (1,911 | ) | ||||||||
Total deferred tax assets, net | 26,345 | 49,215 | ||||||||||
Deferred tax liabilities: | ||||||||||||
Percentage of completion | (539 | ) | (366 | ) | ||||||||
Plant assets | (24,182 | ) | (25,708 | ) | ||||||||
Goodwill and acquired intangible assets | (40,380 | ) | (39,431 | ) | ||||||||
Other deferred tax liabilities | (345 | ) | (402 | ) | ||||||||
Total deferred tax liabilities | (65,446 | ) | (65,907 | ) | ||||||||
Deferred tax liability, net | $ | (39,101 | ) | $ | (16,692 | ) | ||||||
Of the foreign and state loss carryforwards and foreign and state tax credit items, $1,699 expires in 2014 through 2029 and $830 may be carried over indefinitely. | ||||||||||||
The Company decreased the valuation allowance by $809 and $48, respectively in 2013 and 2012 related to foreign and state net operating losses and foreign and state tax credit carryovers. The state valuation allowance was released due to the large cash payout for prior executive pension plans. The valuation allowance reflects the estimated amount of deferred tax assets due to foreign net operating losses that may not be realized. The Company expects to realize the remaining deferred tax assets through the reversal of taxable temporary differences and future earnings. | ||||||||||||
The Company repatriated $54, $54, and $21, respectively, of accumulated foreign earnings in 2013, 2012, and 2011 related to one foreign subsidiary paying a dividend to another foreign subsidiary in those years. For the Company’s other foreign subsidiaries, the Company has not provided deferred taxes on unremitted foreign earnings from certain foreign affiliates of approximately $172,450 that are intended to be indefinitely reinvested to finance operations and expansion outside the United States. If such earnings were distributed beyond the amount for which taxes have been provided, foreign tax credits could offset in part any incremental U.S. tax liability. Determination of the unrecognized deferred taxes related to these undistributed earnings is not practicable. |
Insurance_Claims_and_Settlemen
Insurance Claims and Settlements | 12 Months Ended |
Nov. 30, 2013 | |
Supplementary Insurance Information [Abstract] | ' |
Insurance Claims and Settlements | ' |
INSURANCE CLAIMS AND SETTLEMENTS | |
During August 2011, an Engine/Mobile Filtration segment manufacturing facility that the Company owns was damaged in a weather-related event. A loss of $250, representing the Company's deductible, was recorded in Cost of sales for the quarter ended August 27, 2011. During November 2011, the Company received $200 from the insurance company. The Company does not expect to collect any further amounts related to this claim. |
Contingencies
Contingencies | 12 Months Ended |
Nov. 30, 2013 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Contingencies | ' |
CONTINGENCIES | |
Legal Contingencies | |
From time to time, the Company is subject to lawsuits, investigations and disputes (some of which involve substantial claimed amounts) arising out of the conduct of its business, including matters relating to commercial transactions, product liability, intellectual property and other matters. Items included in these other matters are discussed below. The Company believes recorded reserves in its Consolidated Financial Statements are adequate in light of the probable and estimable outcomes of the items discussed below. Any recorded liabilities were not material to the Company’s financial position, results of operation or liquidity and the Company does not currently believe that any pending claims or litigation, including those identified below, will materially affect its financial position, results of operation or liquidity. | |
TransWeb/3M | |
On May 21, 2010, 3M Company and 3M Innovative Properties (“3M”) brought a lawsuit against TransWeb, LLC ("TransWeb") in the United States District Court for the District of Minnesota, alleging that certain TransWeb products infringe multiple claims of certain 3M patents. Shortly after receiving service of process in this litigation, TransWeb filed its own complaint against 3M in the United States District Court for the District of New Jersey, seeking a declaratory judgment that the asserted patents are invalid and that the products in question do not infringe. 3M withdrew its Minnesota action, and the parties are currently litigating the matter in New Jersey. | |
The litigation in question was filed and underway before the Company acquired TransWeb in December 2010, but the Company assumed the risk of this litigation as a result of the acquisition. On June 3, 2011, TransWeb filed a Second Amended Complaint against 3M, (i) seeking declaratory judgment that the asserted 3M patents are invalid, the TransWeb products in question do not infringe, and the 3M patents are unenforceable due to inequitable conduct by 3M in obtaining the patents, (ii) alleging patent infringement by 3M of a patent held by TransWeb, and (iii) alleging antitrust violations by 3M in connection with certain upstream and downstream markets for fluorinated polymeric filtration media under theories of Walker Process fraud and sham litigation. TransWeb later dropped its patent infringement allegations against 3M, but continued to allege and pursue its inequitable conduct and antitrust claims. Prior to trial, 3M voluntarily dismissed with prejudice the majority of the patent claims 3M had originally brought against TransWeb, but continued to allege infringement by TransWeb of two claims of one of the patents in suit. | |
A jury trial commenced on November 13, 2012. After 10 days of testimony and deliberation, on November 30, 2012, a six-member jury unanimously found that (i) TransWeb does not infringe the asserted claims of the 3M patent in suit, (ii) the asserted claims of the patent in suit are invalid as being obvious, (iii) 3M violated the antitrust laws in trying to enforce patents obtained through fraud on the United States Patent Office (i.e., Walker Process fraud), (iv) TransWeb is entitled to recoup lost profits of approximately $34 plus its attorneys' fees as damages, and (v) 3M did not engage in "sham" litigation. The jury also rendered a unanimous advisory verdict, which is not binding on the court, that 3M's asserted patents were obtained through inequitable conduct, and thus unenforceable. | |
Following the trial, on December 12, 2012, the court ordered a third party Special Master to conduct a review to quantify and qualify TransWeb's attorneys' fees that may be awarded as damages, including those subject to potential trebling under the antitrust laws, and to make a recommendation to the court in this regard. Following 8 months of hearings and submissions by the parties, on September 24, 2013, the Special Master recommended to the court that TransWeb be entitled to approximately $26,147. 3M has moved the court to reject this recommendation, and TransWeb has moved the court to accept it. | |
The court has not yet decided whether to accept the jury's verdict on inequitable conduct or the Special Master's recommendation as to damages and has not yet issued a final judgment in the case, pending (i) resolution of various post-trial motions made by 3M to set aside the jury verdicts adverse to 3M, and (ii) resolution of the issue of the Special Master's recommendation. Following the issuance of a final judgment from the court, the parties will each have an automatic right of appeal to the Federal Circuit. If the court issues a judgment in TransWeb's favor by affirming the actual and advisory jury verdicts, the Company anticipates that 3M will appeal. | |
The Company acquired TransWeb on December 29, 2010 (see Note B). The $30,017 base purchase price included a $17,000 liability due to the former owners of TransWeb, which payment could be reduced dollar-for-dollar for qualifying costs incurred by the Company in connection with the 3M litigation. Since the acquisition date, the Company has expensed legal costs in connection with the 3M litigation and simultaneously recorded the recovery of such costs from the former owners through a reduction of the liability due to the former owners and a corresponding reduction in legal expense. During the years ended November 30, 2013 and 2012, legal costs in connection with the 3M litigation of $531 and $10,140, respectively, were accounted for in this manner. As of the date of this filing, the qualifying costs incurred by the Company have exceeded $17,000 and, as such, no further payments are due to the former owners of TransWeb. The Company does not anticipate incurring any liability in connection with the litigation, due to the fact that, among other factors, as noted above the Special Master has recommended to the court that TransWeb be entitled to approximately $26,147. The Company does anticipate having to expense litigation related amounts due to the significant post-trial activities and anticipated appeal referenced above. The Company does not accrue for such expenses, but recognizes them as they are incurred. | |
Other | |
Additionally, the Company is party to various proceedings relating to environmental issues. The U.S. Environmental Protection Agency and/or other responsible state agencies have designated the Company as a potentially responsible party, along with other companies, in remedial activities for the cleanup of waste sites under the Comprehensive Environmental Response, Compensation, and Liability Act (“the federal Superfund statute”). Although it is not certain what future environmental claims, if any, may be asserted, the Company currently believes that its potential liability for known environmental matters is not material. However, environmental and related remediation costs are difficult to quantify for a number of reasons, including the number of parties involved, the difficulty in determining the nature and extent of the contamination at issue, the length of time remediation may require, the complexity of the environmental regulation and the continuing advancement of remediation technology. Applicable federal law may impose joint and several liability on each potentially responsible party for the cleanup. | |
In addition to the matters cited above, the Company is involved in legal actions arising in the normal course of business. The Company records provisions with respect to identified claims or lawsuits when it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. Claims and lawsuits are reviewed quarterly and provisions are taken or adjusted to reflect the status of a particular matter. No such provisions have been taken in respect of the legal proceedings referred to above. | |
Other Contingencies | |
In the event of a change in control of the Company, termination benefits are likely to be required for certain executive officers and other employees. |
Incentive_Plans_and_StockBased
Incentive Plans and Stock-Based Compensation | 12 Months Ended | ||||||||||||||||||||||||
Nov. 30, 2013 | |||||||||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||||||||||||
Incentive Plans and Stock-Based Compensation | ' | ||||||||||||||||||||||||
INCENTIVE PLANS AND STOCK-BASED COMPENSATION | |||||||||||||||||||||||||
On March 23, 2009, the shareholders of CLARCOR approved the 2009 Incentive Plan, which replaced the 2004 Incentive Plan. The 2009 Incentive Plan allows the Company to grant stock options, restricted stock unit awards, restricted stock and performance awards to officers, directors and key employees of up to 3,800,000 shares during a ten-year period that ends in 2019. Upon share option exercise or restricted stock unit award conversion, the Company issues new shares unless treasury shares are available. | |||||||||||||||||||||||||
Stock Options | |||||||||||||||||||||||||
Nonqualified stock options are granted at exercise prices equal to the market price of CLARCOR common stock at the date of grant, which is the date the Company’s Board of Directors approves the grant and the participants receive it. The Company’s Board of Directors determines the vesting requirements for stock options at the time of grant and may accelerate vesting. In general, options granted to key employees vest 25% per year beginning at the end of the first year; therefore, they become fully exercisable at the end of four years. Vesting may be accelerated in the event of retirement, disability or death of a participant or change in control of the Company. Options granted to non-employee directors vest immediately. Beginning in 2013, stock-based compensation for the Company's Board of Directors has been in the form of restricted stock, rather than stock options. All options expire ten years from the date of grant unless otherwise terminated. Subsequent to the end of fiscal year 2013, the Company issued 441,450 options under the 2009 Incentive Plan with exercise prices of $61.57. | |||||||||||||||||||||||||
The following table summarizes information related to stock options and stock option exercises during the years ended November 30, 2013, 2012 and 2011. | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Pre-tax compensation expense | $ | 3,212 | $ | 4,997 | $ | 4,397 | |||||||||||||||||||
Deferred tax benefits | (1,153 | ) | (1,836 | ) | (1,616 | ) | |||||||||||||||||||
Excess tax benefits associated with tax deductions over the amount of compensation expense recognized in the consolidated financial statements | 7,231 | 2,007 | 5,100 | ||||||||||||||||||||||
Fair value of options granted | 3,868 | 6,407 | 5,803 | ||||||||||||||||||||||
Total intrinsic value of options exercised | 29,384 | 8,793 | 16,732 | ||||||||||||||||||||||
Cash received upon exercise of options | 33,778 | 5,170 | 7,233 | ||||||||||||||||||||||
Addition to capital in excess of par value due to exercise of stock options | 38,903 | 5,440 | 8,045 | ||||||||||||||||||||||
The following table summarizes activity with respect to nonqualified stock options granted by the Company and includes options granted under the 2009, 2004 and 1994 Incentive Plans. | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Options | Weighted | Options | Weighted | Options | Weighted | ||||||||||||||||||||
Granted | Average | Granted | Average | Granted | Average | ||||||||||||||||||||
under | Exercise | under | Exercise | under | Exercise | ||||||||||||||||||||
Incentive | Price | Incentive | Price | Incentive | Price | ||||||||||||||||||||
Plans | Plans | Plans | |||||||||||||||||||||||
Outstanding at beginning of year | 3,037,151 | $ | 36.09 | 2,907,533 | $ | 32.39 | 3,229,410 | $ | 29.07 | ||||||||||||||||
Granted | 387,500 | $ | 45.25 | 512,850 | $ | 49.84 | 494,750 | $ | 43 | ||||||||||||||||
Exercised | (1,191,752 | ) | $ | 30.3 | (353,793 | ) | $ | 25.28 | (774,661 | ) | $ | 25.12 | |||||||||||||
Surrendered | (24,585 | ) | $ | 42.48 | (29,439 | ) | $ | 40.17 | (41,966 | ) | $ | 36.06 | |||||||||||||
Outstanding at end of year | 2,208,314 | $ | 40.76 | 3,037,151 | $ | 36.09 | 2,907,533 | $ | 32.39 | ||||||||||||||||
Exercisable at end of year | 1,413,100 | $ | 38.19 | 2,035,267 | $ | 32.54 | 1,971,197 | $ | 30 | ||||||||||||||||
At November 30, 2013, there was $5,386 of unrecognized compensation cost related to nonvested option awards which the Company expects to recognize over a weighted-average period of 2.42 years. | |||||||||||||||||||||||||
The following table summarizes information about the Company’s outstanding and exercisable options at November 30, 2013. | |||||||||||||||||||||||||
Options Outstanding | Options Exercisable | ||||||||||||||||||||||||
Range of Exercise | Number | Weighted | Intrinsic Value | Weighted | Number | Weighted | Intrinsic Value | Weighted | |||||||||||||||||
Prices | Average | Average | Average | Average | |||||||||||||||||||||
Exercise | Remaining Life | Exercise | Remaining Life | ||||||||||||||||||||||
Price | in Years | Price | in Years | ||||||||||||||||||||||
$22.80 - $28.79 | 157,850 | $ | 26.84 | $ | 5,318 | 2.48 | 157,850 | $ | 26.84 | $ | 5,318 | 2.48 | |||||||||||||
$31.96 - $38.06 | 726,403 | $ | 33.83 | 19,395 | 4.51 | 672,844 | $ | 33.95 | 17,885 | 4.39 | |||||||||||||||
$40.73 - $55.01 | 1,324,061 | $ | 46.22 | 18,954 | 8.19 | 582,406 | $ | 46.16 | 8,368 | 7.7 | |||||||||||||||
2,208,314 | $ | 40.76 | $ | 43,667 | 6.57 | 1,413,100 | $ | 38.19 | $ | 31,571 | 5.54 | ||||||||||||||
The fair value of each option grant is estimated on the date of grant using the Black-Scholes option pricing model with the following weighted average assumptions by grant year. | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Weighted average fair value per option at the date of grant for options granted | $ | 9.98 | $ | 12.49 | $ | 11.73 | |||||||||||||||||||
Risk-free interest rate | 1.19 | % | 1.38 | % | 2.52 | % | |||||||||||||||||||
Expected dividend yield | 1.19 | % | 0.96 | % | 0.98 | % | |||||||||||||||||||
Expected volatility factor | 25.8 | % | 26.52 | % | 25.54 | % | |||||||||||||||||||
Expected option term in years | 5.4 | 6.1 | 6.4 | ||||||||||||||||||||||
The expected option term in years selected for options granted during each period presented represents the period of time that the options are expected to be outstanding based on historical data of option holder exercise and termination behavior. Expected volatilities are based upon historical volatility of the Company’s monthly stock closing prices over a period equal to the expected life of each option grant. The risk-free interest rate is selected based on yields from U.S. Treasury zero-coupon issues with a remaining term approximately equal to the expected term of the options being valued. Expected dividend yield is based on the estimated dividend yield determined on the date of issuance. | |||||||||||||||||||||||||
Restricted Stock Unit Awards | |||||||||||||||||||||||||
The Company’s restricted stock unit awards are considered nonvested share awards. The restricted stock unit awards require no payment from the employee. Compensation cost is recorded based on the market price of the stock on the grant date and is recorded equally over the vesting period of four years. During the vesting period, officers and key employees receive cash compensation equal to the amount of dividends declared on common shares they would have been entitled to receive had the shares been issued. Upon vesting, employees may elect to defer receipt of their shares. There were 14,760 and 131,197 shares which were vested and deferred at November 30, 2013 and 2012. Subsequent to the end of fiscal year 2013, the Company issued 23,808 restricted stock unit awards, each with a fair value of $61.57 at the date of grant. | |||||||||||||||||||||||||
The following table summarizes information related to restricted stock unit awards during the years ended November 30, 2013, 2012 and 2011. | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Pre-tax compensation expense | $ | 888 | $ | 1,229 | $ | 1,079 | |||||||||||||||||||
Deferred tax benefits | (319 | ) | (451 | ) | (396 | ) | |||||||||||||||||||
Excess tax (expense) benefit associated with tax deductions (under) over the amount of compensation expense recognized in the consolidated financial statements | 1,280 | (88 | ) | 3 | |||||||||||||||||||||
Fair value of restricted stock unit awards on date of grant | 1,068 | 1,489 | 1,263 | ||||||||||||||||||||||
Fair value of restricted stock unit awards vested | 621 | 2,359 | 905 | ||||||||||||||||||||||
The following table summarizes the restricted stock unit awards. | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Units | Weighted | Units | Weighted | Units | Weighted | ||||||||||||||||||||
Average | Average | Average | |||||||||||||||||||||||
Grant Date | Grant Date | Grant Date | |||||||||||||||||||||||
Fair Value | Fair Value | Fair Value | |||||||||||||||||||||||
Nonvested at beginning of year | 39,945 | $ | 43.16 | 71,545 | $ | 36.95 | 70,894 | $ | 33.23 | ||||||||||||||||
Granted | 23,624 | $ | 45.19 | 29,839 | $ | 49.91 | 29,467 | $ | 42.86 | ||||||||||||||||
Vested | (15,525 | ) | $ | 40.01 | (60,320 | ) | $ | 39.11 | (26,937 | ) | $ | 33.61 | |||||||||||||
Surrendered | — | $ | — | (1,119 | ) | $ | 44.15 | (1,879 | ) | $ | 37.18 | ||||||||||||||
Nonvested at end of year | 48,044 | $ | 45.18 | 39,945 | $ | 43.16 | 71,545 | $ | 36.95 | ||||||||||||||||
As of November 30, 2013, there was $1,176 of total unrecognized compensation cost related to restricted stock unit awards that the Company expects to recognize over a weighted-average period of 2.50 years. | |||||||||||||||||||||||||
Directors' Restricted Stock Compensation | |||||||||||||||||||||||||
The incentive plans provide for grants of shares of common stock to all non-employee directors for annual incentive awards, and for grants of shares of common stock to all non-employee directors equal to a one-year annual retainer in lieu of cash at the directors’ option. The directors’ rights to the shares vest immediately on the date of grant; however, shares issued on annual retainer fees cannot be sold for a six-month period from the date of grant. The following table summarizes information related to directors' stock compensation during the years ended November 30, 2013, 2012 and 2011. | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Pre-tax compensation expense | $ | 960 | $ | 200 | $ | 200 | |||||||||||||||||||
Shares of Company common stock issued under the plans | 18,256 | 4,055 | 4,540 | ||||||||||||||||||||||
Employee Stock Purchase Plan | |||||||||||||||||||||||||
The Company sponsors an employee stock purchase plan which allows employees to purchase stock at a discount of 5%. Effective January 1, 2006, the plan was amended to be in compliance with safe harbor rules so that the plan is not compensatory, and no expense is recognized related to the plan. The Company issued stock under this plan with fair value upon issuance as follows during the years ended November 30, 2013, 2012 and 2011. | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Company stock issued under the plan | $ | 1,269 | $ | 1,244 | $ | 1,216 | |||||||||||||||||||
Earnings_Per_Share_and_Stock_R
Earnings Per Share and Stock Repurchase Activity | 12 Months Ended | |||||||||||
Nov. 30, 2013 | ||||||||||||
Earnings Per Share and Stock Repurchase Activity [Abstract] | ' | |||||||||||
Earnings Per Share and Stock Repurchase Activity | ' | |||||||||||
EARNINGS PER SHARE AND STOCK REPURCHASE ACTIVITY | ||||||||||||
The Company calculates basic earnings per share by dividing net earnings by the weighted average number of shares outstanding. Diluted earnings per share reflects the impact of outstanding stock options, restricted stock and other stock-based arrangements. The FASB has issued guidance requiring unvested share-based payment awards containing nonforfeitable rights to dividends or dividend equivalents (whether paid or unpaid) be considered participating securities and included in the computation of earnings per share pursuant to the two-class method. The Company’s unvested restricted stock unit awards discussed in Note M qualify as participating securities under this guidance. However, the unvested restricted stock unit awards do not materially impact the calculation of basic or diluted earnings per share; therefore, the Company does not present the two-class method computation. | ||||||||||||
The following table provides a reconciliation of the denominators utilized in the calculation of basic and diluted earnings per share: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Weighted average number of shares outstanding | 49,988,577 | 50,285,480 | 50,501,842 | |||||||||
Dilutive effect of stock-based arrangements | 550,370 | 596,711 | 689,593 | |||||||||
Weighted average number of diluted shares outstanding | 50,538,947 | 50,882,191 | 51,191,435 | |||||||||
Net earnings attributable to CLARCOR Inc. | $ | 118,076 | $ | 122,986 | $ | 124,003 | ||||||
Net earnings per common share attributable to CLARCOR Inc. - Basic | $ | 2.36 | $ | 2.45 | $ | 2.46 | ||||||
Net earnings per common share attributable to CLARCOR Inc. - Diluted | $ | 2.34 | $ | 2.42 | $ | 2.42 | ||||||
The following table provides additional information regarding the calculation of earnings per share and stock repurchase activity. | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Number of antidilutive options with exercise prices greater than the average market price excluded from the computation of dilutive earnings per share | 125,135 | 508,167 | 60,000 | |||||||||
Common stock repurchased and retired pursuant to the Company's stock repurchase program | $ | 27,708 | $ | 37,320 | $ | 29,317 | ||||||
Number of shares repurchased and retired pursuant to the Company's stock repurchase program | 534,100 | 792,881 | 683,776 | |||||||||
On June 25, 2013, the Company’s Board of Directors approved a three-year, $250,000 stock repurchase program. Pursuant to the authorization, the Company may purchase shares from time to time in the open market or through privately negotiated transactions through June 25, 2016. The Company has no obligation to repurchase shares under the authorization, and the timing, actual number and values of shares to be purchased will depend on the Company’s stock price and market conditions. At November 30, 2013, there remained $241,282 authorized for future purchases under the program. |
Segment_Information
Segment Information | 12 Months Ended | |||||||||||
Nov. 30, 2013 | ||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||
Segment Information | ' | |||||||||||
SEGMENT INFORMATION | ||||||||||||
Based on the economic characteristics of the Company’s business activities, the nature of products, customers and markets served and the performance evaluation by management and the Company’s Board of Directors, the Company has identified three reportable segments: Engine/Mobile Filtration, Industrial/Environmental Filtration and Packaging. | ||||||||||||
The Engine/Mobile Filtration segment manufactures and markets a complete line of filters used in the filtration of oils, air, fuel, coolant, hydraulic and transmission fluids in both domestic and international markets. The Engine/Mobile Filtration segment provides filters for certain types of transportation equipment including automobiles, heavy-duty and light trucks, buses and locomotives, marine and mining equipment, industrial equipment and heavy-duty construction and agricultural equipment. The products are sold to aftermarket distributors, original equipment manufacturers and dealer networks, private label accounts and directly to truck service centers and large national accounts. | ||||||||||||
The Industrial/Environmental Filtration segment manufactures and markets a complete line of filters, cartridges, dust collectors, filtration systems, engineered filtration products and technologies used in the filtration of air and industrial fluid processes in both domestic and international markets. The filters and filter systems are used in commercial and industrial buildings, hospitals, manufacturing processes, pharmaceutical processes, clean rooms, airports, shipyards, refineries and other oil and natural gas facilities, power generation plants, petrochemical plants, residences and various other infrastructures. The products are sold to commercial and industrial distributors, original equipment manufacturers and dealer networks, private label accounts, retailers and directly to large national accounts. | ||||||||||||
The Packaging segment manufactures and markets consumer and industrial packaging products including custom-designed plastic and metal containers and closures and lithographed metal sheets in both domestic and international markets. The products are sold directly to consumer and industrial packaging customers. | ||||||||||||
Net sales represent sales to unaffiliated customers. Intersegment sales were not material. No single customer accounted for 10% or more of the Company’s consolidated sales for the years ended November 30, 2013, 2012 and 2011. Unallocated amounts consist of interest expense, interest income and other non-operating income and expense items. Assets are those assets used in each business segment. Corporate assets consist of cash, deferred income taxes, corporate facility and equipment and various other assets that are not specific to an operating segment. The Company operates as a consolidated entity, including cooperation between segments, cost allocating and sharing of certain assets. As such, the Company makes no representation, that if operated on a standalone basis, these segments would report net sales, operating profit and other financial data reflected below. | ||||||||||||
The following tables provides segment data for the years ended November 30, 2013, 2012 and 2011: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Net sales: | ||||||||||||
Engine/Mobile Filtration | $ | 507,024 | $ | 503,607 | $ | 510,012 | ||||||
Industrial/Environmental Filtration | 549,746 | 541,364 | 523,026 | |||||||||
Packaging | 74,000 | 76,794 | 93,563 | |||||||||
$ | 1,130,770 | $ | 1,121,765 | $ | 1,126,601 | |||||||
Operating profit: | ||||||||||||
Engine/Mobile Filtration | $ | 106,345 | $ | 111,653 | $ | 112,839 | ||||||
Industrial/Environmental Filtration | 61,996 | 64,766 | 58,028 | |||||||||
Packaging | 6,275 | 6,295 | 10,400 | |||||||||
174,616 | 182,714 | 181,267 | ||||||||||
Other income (expense), net | (316 | ) | 283 | 41 | ||||||||
Earnings before income taxes | $ | 174,300 | $ | 182,997 | $ | 181,308 | ||||||
2013 | 2012 | 2011 | ||||||||||
Identifiable assets: | ||||||||||||
Engine/Mobile Filtration | $ | 397,545 | $ | 372,011 | $ | 338,197 | ||||||
Industrial/Environmental Filtration | 715,759 | 706,610 | 693,266 | |||||||||
Packaging | 41,030 | 36,350 | 39,571 | |||||||||
Corporate | 294,509 | 90,531 | 63,899 | |||||||||
$ | 1,448,843 | $ | 1,205,502 | $ | 1,134,933 | |||||||
Additions to property, plant and equipment: | ||||||||||||
Engine/Mobile Filtration | $ | 19,809 | $ | 24,062 | $ | 11,406 | ||||||
Industrial/Environmental Filtration | 21,467 | 9,264 | 8,775 | |||||||||
Packaging | 2,467 | 3,250 | 3,824 | |||||||||
Corporate | 908 | 71 | 166 | |||||||||
$ | 44,651 | $ | 36,647 | $ | 24,171 | |||||||
Depreciation and amortization: | ||||||||||||
Engine/Mobile Filtration | $ | 10,488 | $ | 9,327 | $ | 9,325 | ||||||
Industrial/Environmental Filtration | 18,093 | 18,692 | 19,231 | |||||||||
Packaging | 2,859 | 3,090 | 3,166 | |||||||||
Corporate | 793 | 706 | 713 | |||||||||
$ | 32,233 | $ | 31,815 | $ | 32,435 | |||||||
Financial data relating to the geographic areas in which the Company operates are shown for the years ended November 30, 2013, 2012 and 2011. Net sales by geographic area are based on sales to final customers within that region. | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Net sales: | ||||||||||||
United States | $ | 778,952 | $ | 779,811 | $ | 775,987 | ||||||
Europe | 96,255 | 102,144 | 106,712 | |||||||||
Asia | 103,030 | 98,880 | 95,363 | |||||||||
Other International | 152,533 | 140,930 | 148,539 | |||||||||
$ | 1,130,770 | $ | 1,121,765 | $ | 1,126,601 | |||||||
Property, plant and equipment, at cost, less accumulated depreciation: | ||||||||||||
United States | $ | 183,166 | $ | 173,018 | $ | 164,712 | ||||||
Europe | 12,499 | 3,619 | 2,924 | |||||||||
Asia | 2,702 | 8,013 | 7,561 | |||||||||
Other International | 10,586 | 10,451 | 9,795 | |||||||||
$ | 208,953 | $ | 195,101 | $ | 184,992 | |||||||
Selected_Quarterly_Financial_D
Selected Quarterly Financial Data | 12 Months Ended | |||||||||||||||
Nov. 30, 2013 | ||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | |||||||||||||||
Selected Quarterly Financial Data | ' | |||||||||||||||
SELECTED QUARTERLY FINANCIAL DATA (Unaudited) | ||||||||||||||||
The following table provides unaudited quarterly data for 2013 and 2012: | ||||||||||||||||
First | Second | Third | Fourth | |||||||||||||
Quarter | Quarter | Quarter | Quarter | |||||||||||||
2013 | ||||||||||||||||
Net sales | $ | 256,271 | $ | 287,583 | $ | 289,126 | $ | 297,790 | ||||||||
Gross profit | 81,486 | 98,214 | 91,900 | 98,609 | ||||||||||||
Net earnings | 23,528 | 33,153 | 28,773 | 32,896 | ||||||||||||
Net earnings attributable to CLARCOR Inc. | 23,462 | 33,051 | 28,707 | 32,856 | ||||||||||||
Net earnings per common share attributable to CLARCOR Inc. - Basic | $ | 0.47 | $ | 0.66 | $ | 0.57 | $ | 0.65 | ||||||||
Net earnings per common share attributable to CLARCOR Inc. - Diluted | $ | 0.47 | $ | 0.66 | $ | 0.57 | $ | 0.65 | ||||||||
Dividends declared and paid per common share | $ | 0.135 | $ | 0.135 | $ | 0.135 | $ | 0.17 | ||||||||
2012 | ||||||||||||||||
Net sales | $ | 257,264 | $ | 284,855 | $ | 286,733 | $ | 292,913 | ||||||||
Gross profit | 86,215 | 98,185 | 94,888 | 101,044 | ||||||||||||
Net earnings | 23,492 | 33,079 | 30,411 | 36,358 | ||||||||||||
Net earnings attributable to CLARCOR Inc. | 23,479 | 32,927 | 30,270 | 36,310 | ||||||||||||
Net earnings per common share attributable to CLARCOR Inc. - Basic | $ | 0.47 | $ | 0.65 | $ | 0.6 | $ | 0.73 | ||||||||
Net earnings per common share attributable to CLARCOR Inc. - Diluted | $ | 0.46 | $ | 0.65 | $ | 0.6 | $ | 0.72 | ||||||||
Dividends declared and paid per common share | $ | 0.12 | $ | 0.12 | $ | 0.12 | $ | 0.135 | ||||||||
Subsequent_Events
Subsequent Events | 12 Months Ended |
Nov. 30, 2013 | |
Subsequent Events [Abstract] | ' |
Subsequent Events | ' |
SUBSEQUENT EVENTS | |
On December 3, 2013, the Company acquired from NV Bekaert SA, 100% of the outstanding shares of Bekaert Advanced Filtration SA (Belgium), 100% of the outstanding shares of PT Bekaert Advanced Filtration (Indonesia) and certain other assets in India, in China and in the U.S. (collectively, the "Bekaert Business"). The purchase price for the Bekaert Business was approximately $7,402 in cash, subject to a post-closing adjustment based on the working capital of the business as of the closing. The Bekaert Business has manufacturing locations in Belgium and in Indonesia and it is engaged in the manufacture and supply of engineered metal filters and systems used primarily in the polymer fiber and plastics industry. The Bekaert Business is being merged into CLARCOR's Purolator Advanced Filtration Group, headquartered in Greensboro, North Carolina, a component of our Industrial/Environmental Filtration Segment. The business was acquired to expand the technical capabilities of Purolator Advanced Filtration Group, to improve the product offerings that the Company brings to market and help us continue to grow in Europe and in Asia. Results of operations for the Bekaert Business will be included as a part of the Company's Industrial/Environmental Filtration segment from the acquisition date forward. The Company has not yet completed an appraisal of the assets acquired and will finalize the allocation of the purchase price to the assets acquired and liabilities assumed in fiscal 2014. | |
As reported in our Current Report on Form 8-K dated December 16, 2013, on that date the Company completed its acquisition of the Air Filtration business of General Electric Company's ("GE") Power and Water division through the acquisition of certain assets and the assumption of certain liabilities, as well as the acquisition of the stock of a subsidiary of GE. The purchase price paid to GE at closing for this business was approximately $258,692 in cash and is subject to a post-closing adjustment based on the working capital of the business as of the closing. The business is a leading supplier of air filtration systems and filters used in gas turbine applications, as well as industrial air filtration products and membranes. It will operate as "CLARCOR Industrial Air" and it will be headquartered in Overland Park, Kansas, with manufacturing operations in Missouri and in the U.K. The business was acquired to significantly increase our presence in the global gas turbine filtration market, to broaden our industrial air filtration product portfolio, and to afford the Company access to various new technologies and marketplace opportunities. Results of operations for the business will be included as part of CLARCOR’s Industrial/Environmental Filtration Segment from the acquisition date forward. The Company has not yet completed an appraisal of the assets acquired and will finalize the allocation of the purchase price to the assets acquired and liabilities assumed in fiscal 2014. |
Schedule_II_Valuation_and_Qual
Schedule II - Valuation and Qualifying Accounts and Reserves | 12 Months Ended | ||||||||||||||||||||
Nov. 30, 2013 | |||||||||||||||||||||
Valuation and Qualifying Accounts [Abstract] | ' | ||||||||||||||||||||
Schedule II - Valuation and Qualifying Accounts and Reserves | ' | ||||||||||||||||||||
CLARCOR Inc. | |||||||||||||||||||||
SCHEDULE II – VALUATION AND QUALIFYING ACCOUNTS AND RESERVES | |||||||||||||||||||||
For the years ended November 30, 2013, 2012 and 2011 | |||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||
Column A | Column B | Column C | Column D | Column E | |||||||||||||||||
Additions | |||||||||||||||||||||
Description | Balance at | -1 | -2 | Deductions | Balance at | ||||||||||||||||
beginning of | Charged to | Charged | end of | ||||||||||||||||||
period | costs and | to other | period | ||||||||||||||||||
expenses | accounts | ||||||||||||||||||||
2013:00:00 | |||||||||||||||||||||
Allowance for losses on accounts receivable | $ | 9,554 | $ | 1,863 | $ | (1,110 | ) | (A) | $ | (1,124 | ) | (B) | $ | 9,183 | |||||||
2012:00:00 | |||||||||||||||||||||
Allowance for losses on accounts receivable | $ | 9,795 | $ | 1,029 | $ | (96 | ) | (A) | $ | (1,174 | ) | (B) | $ | 9,554 | |||||||
2011:00:00 | |||||||||||||||||||||
Allowance for losses on accounts receivable | $ | 11,428 | $ | (312 | ) | $ | 1,217 | (A) | $ | (2,538 | ) | (B) | $ | 9,795 | |||||||
NOTES: | |||||||||||||||||||||
(A) Due to business acquisitions, reclassifications and currency translation. | |||||||||||||||||||||
(B) Bad debts written off during year, net of recoveries. |
Basis_of_Presentation_and_Sign1
Basis of Presentation and Significant Accounting Policies (Policies) | 12 Months Ended |
Nov. 30, 2013 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
Principles of consolidation | ' |
Principles of Consolidation | |
CLARCOR Inc. and its subsidiaries (collectively, the “Company” or “CLARCOR”) is a global provider of filtration products, filtration systems and services, and consumer and industrial packaging products. As discussed further in Note O, the Company has three reportable segments: Engine/Mobile Filtration, Industrial/Environmental Filtration and Packaging. The Consolidated Financial Statements include all domestic and foreign subsidiaries that were more than 50% owned and controlled as of each respective reporting period presented. All intercompany accounts and transactions have been eliminated. | |
Accounting period | ' |
Accounting Period | |
The Company's fiscal year-end is the Saturday closest to November 30, typically resulting in a fifty-two week year, but occasionally giving rise to an additional week, resulting in a fifty-three week year. The fiscal years ended November 30, 2013 and December 1, 2012 were comprised of fifty-two weeks. The fiscal year ended December 3, 2011 was a fifty-three week year. For clarity of presentation in the Consolidated Financial Statements, all fiscal years are shown to begin as of December 1 and end as of November 30. | |
Use of management's estimates | ' |
Use of Management's Estimates | |
The preparation of the financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results will differ from those estimates. | |
Foreign currency translation and transactions | ' |
Foreign Currency Translation and Transactions | |
Financial statements of foreign subsidiaries are translated into U.S. dollars at current rates, except that revenues, costs, expenses and cash flows are translated at average rates during each reporting period and equity accounts are translated at historical rates. Net exchange gains or losses resulting from the translation of foreign financial statements are presented in the Consolidated Statements of Comprehensive Earnings. Transaction gains and losses that arise from exchange rate fluctuations on transactions denominated in a currency other than the functional currency are included in the results of operations as incurred. | |
Cash and cash equivalents and restricted cash | ' |
Cash and Cash Equivalents and Restricted Cash | |
Highly liquid investments with an original maturity of three months or less when purchased and that are readily saleable are considered to be cash and cash equivalents. Restricted cash represents funds held in escrow and cash balances held by German banks as collateral for certain guarantees of overseas subsidiaries. Restricted cash classified as current corresponds to funds held in escrow that will be used within one year or guarantees that expire within one year. The Company also has $1,896 and $1,839 of noncurrent restricted cash recorded in Other noncurrent assets as of November 30, 2013 and 2012, respectively, corresponding to guarantees and escrow agreements that expire longer than one year from the dates of the Consolidated Balance Sheets. | |
Cash and cash equivalents and restricted cash represent financial instruments with potential credit risk. The Company mitigates the risk by investing the assets with financially strong institutions. | |
Derivatives | ' |
Derivatives | |
For the years ended November 30, 2013, 2012 and 2011, the Company did not enter into any material derivative contracts. | |
Accounts receivable and allowance for losses | ' |
Accounts Receivable and Allowance for Losses | |
Trade accounts receivable are recorded at the invoiced amount and do not bear interest. Trade accounts receivable represent financial instruments with potential credit risk. The allowance for losses is the Company’s best estimate of the amount of probable credit losses in its existing accounts receivable. The Company determines the allowance based on economic conditions in the industries to which the Company sells and on historical experience by evaluating specific customer accounts for risk of loss, fluctuations in amounts owed and current payment trends. The allowances provided are estimates that may be impacted by economic and market conditions which could have an effect on future allowance requirements and results of operations. The Company reviews its allowance for doubtful accounts monthly. Past due balances over ninety days and over a specified amount are reviewed individually for collectability. Account balances are charged off against the allowance when it is probable the receivable will not be recovered. | |
Inventories | ' |
Inventories | |
Inventories are valued at the lower of cost or market primarily determined on the first-in, first-out (“FIFO”) method of inventory costing, which approximates current cost. The Company periodically assesses its inventories for potential excess, slow movement and obsolescence and adjusts inventory values accordingly. | |
Property, plant and equipment | ' |
Property, Plant and Equipment | |
Depreciation is determined by the straight-line method for financial statement purposes and by the accelerated method for tax purposes. The provision for depreciation is based on the estimated useful lives of the assets (15 to 40 years for buildings and improvements, the shorter of the asset life or the life of the lease for leasehold improvements and leased equipment and 3 to 15 years for machinery and equipment). It is the Company’s policy to capitalize the cost of renewals and betterments and to charge to expense the cost of current maintenance and repairs. When property or equipment is retired or otherwise disposed of, the net book value of the asset is removed from the Company’s books and the resulting gain or loss is reflected in operating profit. | |
Plant assets classified as Assets held for sale are initially measured at the lesser of the assets’ carrying amount or the fair value less costs to sell. Gains or losses are recognized for any subsequent changes in the fair value less cost to sell; however, gains are only recognized to the extent of cumulative losses previously recognized. Plant assets classified as Assets held for sale are not depreciated. | |
Goodwill and acquired intangible assets | ' |
Goodwill and Acquired Intangible Assets | |
The Company recognizes the excess of the cost of an acquired entity over the net amount assigned to assets acquired and liabilities assumed as goodwill. Goodwill is tested for impairment at the reporting unit level on an annual basis during the fourth quarter and any time events or changes in circumstances indicate that the carrying amount of goodwill and acquired intangible assets might not be recoverable. Impairment losses would be recognized whenever the implied fair value of goodwill is less than its carrying value. | |
The Company recognizes an acquired intangible asset apart from goodwill whenever the asset arises from contractual or other legal rights, or whenever it is capable of being separated or divided from the acquired entity and sold, transferred, licensed, rented or exchanged, either individually or in combination with a related contract, asset or liability. An intangible asset other than goodwill is amortized over its estimated useful life unless that life is determined to be indefinite. Most of the Company’s trade names and trademarks have indefinite useful lives and are subject to impairment testing. All other acquired intangible assets, including patents (average 13 year life), and other identifiable intangible assets with original lives ranging from 1 to 30 years, are being amortized using the straight-line method over the estimated periods to be benefited. The Company reviews the lives of its definite-lived intangible assets at least annually during the fourth quarter, and if necessary, impairment losses are recognized if the carrying amount of an intangible subject to amortization is not recoverable from expected future cash flows and its carrying amount exceeds its fair value. | |
Impairment of long-lived assets | ' |
Impairment of Long-Lived Assets | |
The Company determines any impairment losses based on underlying cash flows related to specific groups of acquired long-lived assets, including plant assets, associated identifiable intangible assets and goodwill, when events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. | |
Income taxes | ' |
Income Taxes | |
The Company provides for income taxes and recognizes deferred tax liabilities and assets for the expected future tax consequences of temporary differences between the financial statement carrying amounts and the tax basis of assets and liabilities. The Company does not provide deferred taxes on unremitted foreign earnings from certain foreign affiliates that are intended to be indefinitely reinvested to finance operations and expansion outside the United States. | |
Income taxes, uncertainties | ' |
The Company accounts for uncertain tax positions in accordance with guidance issued by the Financial Accounting Standards Board (“FASB”). This guidance applies broadly to all tax positions taken by a company, including decisions to not report income in a tax return or to classify a transaction as tax exempt. The approach is a two-step benefit recognition model. The amount of benefit to recognize is measured as the largest amount of tax benefit that is greater than 50% likely of being ultimately realized upon settlement. The tax position is derecognized when it is no longer more likely than not of being sustained. The Company recognizes interest and penalties related to unrecognized benefits in income tax expense. | |
Accumulated other comprehensive loss | ' |
Accumulated Other Comprehensive Loss | |
Accumulated other comprehensive loss, net of tax, consists of foreign currency translation adjustments and pension related gains and losses, prior service costs and credits and any remaining transition amounts that have not yet been recognized through net periodic benefit costs. | |
Stock-based compensation | ' |
Stock-based Compensation | |
Stock-based employee compensation cost is recognized using the fair-value based method for all awards granted on or after the beginning of fiscal year 2006. The Company issues stock option awards and restricted stock unit awards to employees and issues stock option awards and restricted stock to non-employee directors under its stock-based incentive plans. The fair value of each option grant is estimated on the date of grant using the Black-Scholes option pricing model. Compensation cost related to restricted stock units is recorded based on the market price of the Company’s common stock on the grant date. The Company recognizes compensation expense from the date of grant on a straight-line basis over a four year period or to the date retirement eligibility is achieved, whichever is shorter. For those who are already retirement eligible on the date of grant, compensation expense is recognized immediately. | |
Revenue recognition | ' |
Revenue Recognition | |
Revenue is recognized when product ownership and risk of loss have transferred to the customer or performance of services is complete and the Company has no remaining obligations regarding the transaction. Estimated discounts, rebates and sales returns are recorded as a reduction of sales in the same period revenue is recognized. Shipping and handling costs are recorded as revenue when billed to customers. The related shipping and handling expenses are included in Cost of sales. | |
The Company uses the percentage of completion accounting revenue recognition method for qualifying contracts under which products are manufactured to customer specifications. Approximately $42,002, $34,466 and $40,072 of the Company’s total revenue for fiscal year 2013, 2012 and 2011, respectively, was recognized under the percentage of completion accounting method. Revenue is recognized on contracts utilizing the percentage of completion method based on costs incurred as a percentage of estimated total costs. Revenue recognized on uncompleted contracts in excess of amounts billed to customers is reflected as a current asset. Amounts billed to customers in excess of revenue recognized on uncompleted contracts are reflected as a current liability. When it is estimated that a contract will result in a loss, the entire amount of the estimated loss is accrued. The effect of revisions in costs and profit estimated for contracts is reflected in the accounting period in which the facts requiring the revisions become known. | |
Product warranties | ' |
Product Warranties | |
The Company provides for estimated warranty costs when the related products are recorded as sales or for specific items at the time existence of the claims is known and the amounts are reasonably determinable. | |
Research and development | ' |
Research and Development | |
The Company charges research and development costs, relating to the development of new products or the improvement or redesign of its existing products, to expense when incurred. | |
Insurance | ' |
Insurance | |
Insurance coverage is obtained for certain property and casualty exposures, workers’ compensation and general liability, as well as risks that require insurance by law or contract. The Company self-insures for certain other insurable risks, primarily employee medical coverage, which the Company carries insurance for certain losses above specified amounts. Liabilities are determined using estimates, including actuarial where applicable, of the aggregate liability for claims incurred and an estimate of incurred but not reported claims, on an undiscounted basis. | |
Guarantees | ' |
Guarantees | |
At November 30, 2013 and 2012, the Company had letters of credit totaling $28,541 and $23,307, respectively, issued to various government agencies, primarily related to industrial revenue bonds, and to insurance companies and other entities in support of its obligations. The Company believes that no payments will be required resulting from these obligations. | |
In the ordinary course of business, the Company also provides routine indemnifications and other guarantees whose terms range in duration and often are not explicitly defined. The Company does not believe these will have a material impact on the results of operations or financial condition of the Company. | |
New pronouncements | ' |
New Pronouncements | |
In February 2013, the Financial Accounting Standards Board ("FASB") issued guidance to improve the reporting of reclassifications out of accumulated other comprehensive income ("AOCI"). The amendments do not change the current requirement for reporting net income or other comprehensive income in financial statements; however, the amendments require an entity to provide information about the amounts reclassified out of AOCI by component. In addition, an entity is required to present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of AOCI by the respective line items of net income, but only if the amount reclassified is required under U.S. GAAP to be reclassified to net income in its entirety in the same reporting period. For other amounts that are not required under U.S. GAAP to be reclassified in their entirety to net income, an entity is required to cross-reference to other disclosures required under U.S. GAAP that provide additional detail about those amounts. The guidance is effective for annual and interim periods beginning after December 15, 2012, although early adoption is permitted. The Company does not expect the adoption of this guidance on the first day of fiscal year 2014 to have a material impact on the Consolidated Financial Statements. | |
In July 2012, the FASB issued amendments to its indefinite-lived intangible assets impairment testing guidance to simplify how entities test for indefinite-lived intangible asset impairments. The objective of the amendments is to reduce cost and complexity by providing an entity with the option to make a qualitative assessment about the likelihood that an indefinite-lived intangible asset is impaired to determine whether it should perform a quantitative impairment test. The amendments also enhance the consistency of impairment testing guidance amount long-lived asset categories by permitting an entity to assess qualitative factors to determine whether it is necessary to calculate the asset's fair value when testing an indefinite-lived intangible asset for impairment, which is equivalent to the impairment testing requirements for other long-lived assets. The amendments are effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012, although early adoption is permitted. The adoption of this guidance on the first day of fiscal year 2013 did not have a material impact on the Consolidated Financial Statements. | |
In September 2011, the FASB issued amendments to its goodwill impairment testing guidance to simplify how entities test for goodwill impairments. The amendments are intended to reduce complexity and cost by providing a company the option of making an initial qualitative evaluation about the likelihood of goodwill impairment in determining whether it should calculate the fair value of a reporting unit. The amendments also include examples of events and circumstances that a company should consider in evaluating whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. The amendments are effective for annual and interim goodwill impairment tests performed for fiscal years beginning after December 15, 2011, although early adoption is permitted. The adoption of this guidance on the first day of fiscal year 2013 did not have a material impact on the Consolidated Financial Statements. | |
In June 2011, the FASB issued amendments to its comprehensive income guidance to (a) improve the comparability, consistency and transparency of financial reporting, (b) increase the prominence of items reported in other comprehensive income and (c) facilitate the convergence of U.S. GAAP with International Financial Reporting Standards ("IFRS"). The amendments require all non-owner changes in shareholders' equity be presented either in a single continuous statement of comprehensive income or in two separate but consecutive statements. The required amendments, pursuant to the guidance, must be applied retrospectively. In December 2011, the FASB issued amendments to defer certain presentation requirements of the initial guidance. The guidance is effective for fiscal years and interim periods within those years, beginning after December 15, 2011, although early adoption is permitted. The adoption of this guidance on the first day of fiscal year 2013 resulted in the presentation of the Consolidated Statements of Comprehensive Earnings, but did not have a material effect on the Company’s financial position or results of operations. | |
Basis_of_Presentation_and_Sign2
Basis of Presentation and Significant Accounting Policies (Tables) | 12 Months Ended | |||||||||||
Nov. 30, 2013 | ||||||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | |||||||||||
Schedule of inventory | ' | |||||||||||
Inventories are summarized as follows: | ||||||||||||
2013 | 2012 | |||||||||||
Raw materials | $ | 80,741 | $ | 75,928 | ||||||||
Work in process | 34,402 | 34,996 | ||||||||||
Finished products | 103,643 | 100,327 | ||||||||||
$ | 218,786 | $ | 211,251 | |||||||||
Schedule of accumulated other comprehensive income (loss) | ' | |||||||||||
The components of the ending balances of Accumulated other comprehensive loss are as follows: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Pension liability, net of tax | $ | (29,878 | ) | $ | (50,890 | ) | $ | (44,656 | ) | |||
Translation adjustments, net of tax | 64 | (818 | ) | 265 | ||||||||
Accumulated other comprehensive loss | $ | (29,814 | ) | $ | (51,708 | ) | $ | (44,391 | ) |
Business_Acquisitions_Investme1
Business Acquisitions, Investments and Redeemable Noncontrolling Interests (Tables) | 12 Months Ended | |||||||||||
Nov. 30, 2013 | ||||||||||||
Modular [Member] | ' | |||||||||||
Business Acquisition [Line Items] | ' | |||||||||||
Schedule of pro forma information | ' | |||||||||||
Net sales and Operating profit (loss) attributable to Modular for the years ended November 30, 2013 and 2012 were as follows: | ||||||||||||
2013 | 2012 | |||||||||||
Net sales | $ | 7,035 | $ | 5,314 | ||||||||
Operating profit (loss) | $ | (1,513 | ) | $ | 149 | |||||||
TransWeb [Member] | ' | |||||||||||
Business Acquisition [Line Items] | ' | |||||||||||
Schedule of pro forma information | ' | |||||||||||
Net sales and Operating profit (loss) attributable to TransWeb for the years ended November 30, 2013, 2012 and 2011 were as follows: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Net sales | $ | 5,400 | $ | 8,607 | $ | 13,022 | ||||||
Operating profit (loss) | $ | (2,262 | ) | $ | (378 | ) | $ | 2,552 | ||||
Property_Plant_and_Equipment_T
Property, Plant and Equipment (Tables) | 12 Months Ended | |||||||
Nov. 30, 2013 | ||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||
Schedule of property, plant and equipment | ' | |||||||
Property, plant and equipment included the following assets at November 30, 2013 and 2012: | ||||||||
2013 | 2012 | |||||||
Land | $ | 9,444 | $ | 9,326 | ||||
Buildings and building fixtures | 119,207 | 107,857 | ||||||
Machinery and equipment | 388,669 | 372,358 | ||||||
Construction in process | 24,420 | 20,578 | ||||||
541,740 | 510,119 | |||||||
Accumulated depreciation | (332,787 | ) | (315,018 | ) | ||||
$ | 208,953 | $ | 195,101 | |||||
Goodwill_and_Acquired_Intangib1
Goodwill and Acquired Intangible Assets (Tables) | 12 Months Ended | |||||||||||||||
Nov. 30, 2013 | ||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||||||
Schedule of goodwill | ' | |||||||||||||||
The following table reconciles the activity for goodwill by segment for fiscal years 2013 and 2012. All goodwill is stated on a gross basis, as the Company has not recorded any impairment charges against goodwill. | ||||||||||||||||
Engine/Mobile | Industrial/ | Packaging | Total | |||||||||||||
Filtration | Environmental | |||||||||||||||
Filtration | ||||||||||||||||
November 30, 2011 | $ | 21,087 | $ | 214,443 | $ | — | $ | 235,530 | ||||||||
Acquisitions | — | 5,596 | — | 5,596 | ||||||||||||
Currency translation adjustments | 506 | 292 | — | 798 | ||||||||||||
November 30, 2012 | $ | 21,593 | $ | 220,331 | $ | — | $ | 241,924 | ||||||||
Acquisitions | — | — | — | — | ||||||||||||
Currency translation adjustments | 275 | (900 | ) | — | (625 | ) | ||||||||||
November 30, 2013 | $ | 21,868 | $ | 219,431 | $ | — | $ | 241,299 | ||||||||
Schedule of intangible assets by segment | ' | |||||||||||||||
The following table summarizes acquired intangible assets by segment. Other acquired intangible assets include parts manufacturer regulatory approvals, proprietary technology, patents and noncompete agreements. | ||||||||||||||||
Engine/Mobile | Industrial/ | Packaging | Total | |||||||||||||
Filtration | Environmental | |||||||||||||||
Filtration | ||||||||||||||||
November 30, 2013 | ||||||||||||||||
Indefinite Lived Intangibles: | ||||||||||||||||
Trademarks - indefinite lived | $ | 603 | $ | 42,058 | $ | — | $ | 42,661 | ||||||||
Finite Lived Intangibles: | ||||||||||||||||
Trademarks - finite lived, gross | 307 | 488 | — | 795 | ||||||||||||
Accumulated amortization | (104 | ) | (329 | ) | — | (433 | ) | |||||||||
Trademarks - finite lived, net | $ | 203 | $ | 159 | $ | — | $ | 362 | ||||||||
Customer relationships, gross | $ | 4,309 | $ | 45,244 | $ | — | $ | 49,553 | ||||||||
Accumulated amortization | (1,870 | ) | (20,161 | ) | — | (22,031 | ) | |||||||||
Customer relationships, net | $ | 2,439 | $ | 25,083 | $ | — | $ | 27,522 | ||||||||
Other acquired intangibles, gross | $ | 243 | $ | 39,894 | $ | — | $ | 40,137 | ||||||||
Accumulated amortization | (243 | ) | (20,558 | ) | — | (20,801 | ) | |||||||||
Other acquired intangibles, net | $ | — | $ | 19,336 | $ | — | $ | 19,336 | ||||||||
Total finite lived intangible assets, net | $ | 2,642 | $ | 44,578 | $ | — | $ | 47,220 | ||||||||
Acquired intangible assets, less accumulated amortization | $ | 3,245 | $ | 86,636 | $ | — | $ | 89,881 | ||||||||
Engine/Mobile | Industrial/ | Packaging | Total | |||||||||||||
Filtration | Environmental | |||||||||||||||
Filtration | ||||||||||||||||
November 30, 2012 | ||||||||||||||||
Indefinite Lived Intangibles: | ||||||||||||||||
Trademarks - indefinite lived | $ | 603 | $ | 41,729 | $ | — | $ | 42,332 | ||||||||
Finite Lived Intangibles: | ||||||||||||||||
Trademarks - finite lived, gross | 300 | 488 | — | 788 | ||||||||||||
Accumulated amortization | (89 | ) | (316 | ) | — | (405 | ) | |||||||||
Trademarks - finite lived, net | $ | 211 | $ | 172 | $ | — | $ | 383 | ||||||||
Customer relationships, gross | $ | 4,278 | $ | 45,517 | $ | — | $ | 49,795 | ||||||||
Accumulated amortization | (1,701 | ) | (16,813 | ) | — | (18,514 | ) | |||||||||
Customer relationships, net | $ | 2,577 | $ | 28,704 | $ | — | $ | 31,281 | ||||||||
Other acquired intangibles, gross | $ | 243 | $ | 39,885 | $ | — | $ | 40,128 | ||||||||
Accumulated amortization | (243 | ) | (18,200 | ) | — | (18,443 | ) | |||||||||
Other acquired intangibles, net | $ | — | $ | 21,685 | $ | — | $ | 21,685 | ||||||||
Total finite lived intangible assets, net | $ | 2,788 | $ | 50,561 | $ | — | $ | 53,349 | ||||||||
Acquired intangible assets, less accumulated amortization | $ | 3,391 | $ | 92,290 | $ | — | $ | 95,681 | ||||||||
Schedule of expected amortization expense | ' | |||||||||||||||
The following tables summarize actual amortization expense for the past three fiscal years and estimated amortization expense for the next five fiscal years. | ||||||||||||||||
Amortization expense for the years ended: | ||||||||||||||||
2013 | $ | 5,904 | ||||||||||||||
2012 | 5,890 | |||||||||||||||
2011 | 5,609 | |||||||||||||||
Estimated amortization expense for the next five years: | ||||||||||||||||
2014 | $ | 5,685 | ||||||||||||||
2015 | 5,623 | |||||||||||||||
2016 | 5,448 | |||||||||||||||
2017 | 5,253 | |||||||||||||||
2018 | 4,589 | |||||||||||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 12 Months Ended | |||||||||||||||
Nov. 30, 2013 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||
Schedule of assets or liabilities that have a recurring fair value measurement | ' | |||||||||||||||
Assets or liabilities that have recurring fair value measurements are shown below: | ||||||||||||||||
Fair Value Measurements at Reporting Date | ||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | |||||||||||||
November 30, 2013 | ||||||||||||||||
Restricted trust, included in Other noncurrent assets | ||||||||||||||||
Mutual fund investments - equities | $ | 593 | $ | 593 | $ | — | $ | — | ||||||||
Mutual fund investments - bonds | 400 | 400 | — | — | ||||||||||||
Cash and equivalents | 31 | 31 | — | — | ||||||||||||
Total restricted trust | $ | 1,024 | $ | 1,024 | $ | — | $ | — | ||||||||
TransWeb contingent earn-out, included in Other long-term liabilities | $ | — | $ | — | $ | — | $ | — | ||||||||
November 30, 2012 | ||||||||||||||||
Restricted trust, included in Other noncurrent assets | ||||||||||||||||
Mutual fund investments - equities | $ | 614 | $ | 614 | $ | — | $ | — | ||||||||
Mutual fund investments - bonds | 425 | 425 | — | — | ||||||||||||
Cash and equivalents | 31 | 31 | — | — | ||||||||||||
Total restricted trust | $ | 1,070 | $ | 1,070 | $ | — | $ | — | ||||||||
TransWeb contingent earn-out, included in Other long-term liabilities | $ | 1,292 | $ | — | $ | — | $ | 1,292 | ||||||||
Accounts_Payable_and_Accrued_L1
Accounts Payable and Accrued Liabilities (Tables) | 12 Months Ended | |||||||||||
Nov. 30, 2013 | ||||||||||||
Payables and Accruals [Abstract] | ' | |||||||||||
Schedule of accounts payable and accrued liabilities | ' | |||||||||||
Accounts payable and accrued liabilities at November 30, 2013 and 2012 were as follows: | ||||||||||||
2013 | 2012 | |||||||||||
Accounts payable | $ | 79,164 | $ | 69,206 | ||||||||
Accrued salaries, wages and commissions | 14,908 | 16,884 | ||||||||||
Pension and postretirement healthcare benefits liabilities | 278 | 21,442 | ||||||||||
Compensated absences | 8,600 | 9,010 | ||||||||||
Accrued insurance liabilities | 7,599 | 7,733 | ||||||||||
Customer deposits | 16,081 | 14,207 | ||||||||||
Other accrued liabilities | 30,908 | 33,780 | ||||||||||
$ | 157,538 | $ | 172,262 | |||||||||
Schedule of product warranty liability | ' | |||||||||||
Changes in the Company’s warranty accrual, which is included in Other accrued liabilities, for the years ended November 30, 2013, 2012 and 2011 are as follows: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Warranty accrual at beginning of period | $ | 1,533 | $ | 2,580 | $ | 3,499 | ||||||
Accruals for warranties issued during the period | 844 | 514 | 622 | |||||||||
Adjustments related to business acquisitions | — | 32 | — | |||||||||
Adjustments related to pre-existing warranties | (290 | ) | (691 | ) | (846 | ) | ||||||
Settlements made during the period | (500 | ) | (850 | ) | (316 | ) | ||||||
Other adjustments, including currency translation | 12 | (52 | ) | (379 | ) | |||||||
Warranty accrual at end of period | $ | 1,599 | $ | 1,533 | $ | 2,580 | ||||||
LongTerm_Debt_Tables
Long-Term Debt (Tables) | 12 Months Ended | ||||||||
Nov. 30, 2013 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Schedule of long-term debt | ' | ||||||||
Long-term debt at November 30, 2013 and 2012 consisted of the following: | |||||||||
2013 | 2012 | ||||||||
Credit Facility: | |||||||||
Multicurrency Revolving Credit Facility | $ | 50,000 | $ | — | |||||
Multicurrency Term Loan Facility | 100,000 | — | |||||||
Industrial Revenue Bonds, at weighted average interest rates of 0.23% and 0.35%, respectively, at November 30, 2013 and 2012 | 15,820 | 15,820 | |||||||
Other long-term debt | 816 | 772 | |||||||
Total long-term debt | $ | 166,636 | $ | 16,592 | |||||
Current portion of long-term debt | $ | 50,223 | $ | 201 | |||||
Long-term debt, less current portion | $ | 116,413 | $ | 16,391 | |||||
Schedule of maturities of long-term debt | ' | ||||||||
Principal maturities of long-term debt as of November 30, 2013 and for the next five fiscal years ending November 30 are as follows: | |||||||||
2014 | $ | 50,223 | |||||||
2015 | 226 | ||||||||
2016 | 8,635 | ||||||||
2017 | 100,113 | ||||||||
2018 | 29 | ||||||||
Thereafter | 7,410 | ||||||||
$ | 166,636 | ||||||||
Leases_Tables
Leases (Tables) | 12 Months Ended | |||
Nov. 30, 2013 | ||||
Leases [Abstract] | ' | |||
Schedule of future minimum rental payments for operating leases | ' | |||
The following table summarizes rent expense for the past three fiscal years and commitments for minimum rentals under noncancelable leases having initial or remaining terms in excess of one year at November 30, 2013. | ||||
Rent expense for the years ended: | ||||
2013 | $ | 16,124 | ||
2012 | 16,699 | |||
2011 | 16,518 | |||
Future minimum rentals under noncancelable leases: | ||||
2014 | $ | 17,221 | ||
2015 | 9,001 | |||
2016 | 5,929 | |||
2017 | 3,320 | |||
2018 | 2,089 | |||
Thereafter | 7,074 | |||
Pension_and_Other_Postretireme1
Pension and Other Postretirement Plans (Tables) | 12 Months Ended | |||||||||||||||
Nov. 30, 2013 | ||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | |||||||||||||||
Schedule of Net Funded Status [Table Text Block] | ' | |||||||||||||||
The following tables show reconciliations of the changes in benefit obligations and plan assets for our pension plans and other postretirement benefits plan as of November 30, 2013 and 2012. The accrued pension benefit obligation includes an unfunded benefit obligation of $2,012 and $23,337 as of November 30, 2013 and 2012, respectively, related to the Company’s U.S. combined nonqualified plans. | ||||||||||||||||
Pension Benefits | Other Postretirement Benefits | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Change in benefit obligation | ||||||||||||||||
Benefit obligation at beginning of year | $ | 217,987 | $ | 186,841 | $ | 442 | $ | 550 | ||||||||
Currency translation | 190 | 200 | — | — | ||||||||||||
Service cost | 2,485 | 2,126 | — | — | ||||||||||||
Interest cost | 6,934 | 7,715 | 9 | 17 | ||||||||||||
Plan participants' contributions | 39 | 42 | — | — | ||||||||||||
Actuarial (gains) losses | (22,472 | ) | 28,119 | (73 | ) | (189 | ) | |||||||||
Benefits paid | (29,064 | ) | (7,056 | ) | (251 | ) | (282 | ) | ||||||||
Retiree contributions | — | — | 229 | 346 | ||||||||||||
Benefit obligation at end of year | $ | 176,099 | $ | 217,987 | $ | 356 | $ | 442 | ||||||||
Pension Benefits | Other Postretirement Benefits | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Change in plan assets | ||||||||||||||||
Fair value of plan assets at beginning of year | $ | 146,307 | $ | 112,548 | $ | — | $ | — | ||||||||
Currency translation | 174 | 175 | — | — | ||||||||||||
Actual return on plan assets | 14,305 | 18,325 | — | — | ||||||||||||
Employer contributions | 24,623 | 22,273 | 251 | 282 | ||||||||||||
Plan participants' contributions | 39 | 42 | — | — | ||||||||||||
Benefits paid | (29,064 | ) | (7,056 | ) | (251 | ) | (282 | ) | ||||||||
Fair value of plan assets at end of year | $ | 156,384 | $ | 146,307 | $ | — | $ | — | ||||||||
Funded status | $ | (19,715 | ) | $ | (71,680 | ) | $ | (356 | ) | $ | (442 | ) | ||||
Accumulated benefit obligation at end of year | $ | 170,433 | $ | 209,572 | n/a | n/a | ||||||||||
Assumptions: | ||||||||||||||||
Discount rate - qualified plans | 4.50% | 3.50% | 3.00% | 2.25% | ||||||||||||
Discount rate - nonqualified plans | 3.25% | 1.75% | n/a | n/a | ||||||||||||
Rate of compensation increase - qualified plans | 4.00% | 4.00% | n/a | n/a | ||||||||||||
Rate of compensation increase - nonqualified plans | 4.00% | 4.00% | n/a | n/a | ||||||||||||
Measurement date | 11/30/13 | 11/30/12 | 11/30/13 | 11/30/12 | ||||||||||||
Schedule of Amounts Recognized in Balance Sheet [Table Text Block] | ' | |||||||||||||||
Pension Benefits | Other Postretirement Benefits | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Amounts recognized in the Consolidated Balance Sheets as of November 30 | ||||||||||||||||
Accounts payable and accrued liabilities | $ | (216 | ) | $ | (21,372 | ) | $ | (63 | ) | $ | (70 | ) | ||||
Long-term pension and postretirement healthcare benefits liabilities | (19,499 | ) | (50,308 | ) | (293 | ) | (372 | ) | ||||||||
Funded status | $ | (19,715 | ) | $ | (71,680 | ) | $ | (356 | ) | $ | (442 | ) | ||||
Accumulated other comprehensive loss, pre-tax | $ | 48,902 | $ | 83,392 | $ | (1,632 | ) | $ | (1,832 | ) | ||||||
Amounts recognized in Accumulated Other Comprehensive Loss, as of November 30 | ||||||||||||||||
Unrecognized net actuarial loss (gain) | $ | 48,914 | $ | 83,413 | $ | (1,037 | ) | $ | (1,114 | ) | ||||||
Unrecognized net prior service credit | (12 | ) | (21 | ) | (595 | ) | (718 | ) | ||||||||
Accumulated other comprehensive loss, pre-tax | 48,902 | 83,392 | (1,632 | ) | (1,832 | ) | ||||||||||
Deferred taxes | (17,979 | ) | (31,336 | ) | 587 | 666 | ||||||||||
Accumulated other comprehensive loss, after-tax | $ | 30,923 | $ | 52,056 | $ | (1,045 | ) | $ | (1,166 | ) | ||||||
Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block] | ' | |||||||||||||||
The amounts affecting Accumulated other comprehensive loss for the years ended November 30, 2013 and 2012 are as follows: | ||||||||||||||||
Pension Benefits | Other Postretirement Benefits | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Amortization of prior service (cost) credit, net of tax of $(6), $(6) and $(44), $(45), respectively | $ | 3 | $ | 3 | $ | 79 | $ | 77 | ||||||||
Amortization of actuarial (losses) gains, net of tax of $3,060, $3,164 and $(54), $(44), respectively | (5,498 | ) | (5,159 | ) | 95 | 77 | ||||||||||
Current year actuarial losses (gains), net of tax of $9,304, $(7,143) and $26, $68, respectively | (16,637 | ) | 11,876 | (46 | ) | (120 | ) | |||||||||
Effect of change in deferred tax rate | 982 | (521 | ) | (7 | ) | 1 | ||||||||||
Total | $ | (21,150 | ) | $ | 6,199 | $ | 121 | $ | 35 | |||||||
Schedule of Allocation of Plan Assets [Table Text Block] | ' | |||||||||||||||
As of the November 30th measurement dates, the fair values of actual pension asset allocations were as follows: | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Equity securities | 51 | % | 60.6 | % | ||||||||||||
Debt securities | 48.7 | % | 38.9 | % | ||||||||||||
Real estate | — | % | — | % | ||||||||||||
Cash and cash equivalents | 0.3 | % | 0.5 | % | ||||||||||||
100 | % | 100 | % | |||||||||||||
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | ' | |||||||||||||||
The following table summarizes the fair value of the pension plans’ assets. | ||||||||||||||||
Fair Value Measurements at Reporting Date | ||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | |||||||||||||
November 30, 2013 | ||||||||||||||||
U.S. equity securities funds | $ | 55,129 | $ | 55,129 | $ | — | $ | — | ||||||||
Non-U.S. equity securities funds | $ | 24,587 | 24,587 | — | — | |||||||||||
Fixed income securities funds | $ | 76,121 | 76,121 | — | — | |||||||||||
Cash and equivalents funds | $ | 547 | 547 | — | — | |||||||||||
Total | $ | 156,384 | $ | 156,384 | $ | — | $ | — | ||||||||
Other items to reconcile to fair value of plan assets | — | |||||||||||||||
Fair value of plan assets | $ | 156,384 | ||||||||||||||
Fair Value Measurements at Reporting Date | ||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | |||||||||||||
November 30, 2012 | ||||||||||||||||
U.S. equity securities funds | $ | 61,272 | $ | 61,272 | $ | — | $ | — | ||||||||
Non-U.S. equity securities funds | $ | 27,422 | 27,422 | — | — | |||||||||||
Fixed income securities funds | $ | 56,854 | 56,854 | — | — | |||||||||||
Cash and equivalents funds | $ | 618 | 618 | — | — | |||||||||||
Total | $ | 146,166 | $ | 146,166 | $ | — | $ | — | ||||||||
Other items to reconcile to fair value of plan assets | 141 | |||||||||||||||
Fair value of plan assets | $ | 146,307 | ||||||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | ' | |||||||||||||||
The following table summarizes changes in the fair value of Level 3 assets for the years ended November 30, 2013 and 2012. Such assets represent real estate funds, consisting of units of other private real estate funds, which are not traded on a national exchange. The net asset value ("NAV") for such funds is calculated on a lag of approximately 30 days by the custodian of the funds. The NAV is based on the fair value of the underlying assets owned by the fund, minus its liabilities then divided by the number of units outstanding. All holdings in real estate funds were sold during 2012, consistent with changes in the target allocation of invested assets. | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Balance at beginning of year | $ | — | $ | 3,782 | ||||||||||||
Unrealized gains | — | — | ||||||||||||||
Realized gains | — | 279 | ||||||||||||||
Sale of assets | — | (4,061 | ) | |||||||||||||
Balance at end of year | $ | — | $ | — | ||||||||||||
Schedule of Net Benefit Costs [Table Text Block] | ' | |||||||||||||||
The components of net periodic benefit cost for pensions are shown below. Net periodic benefit cost is based on assumptions determined at the prior year-end measurement date. Increases in the liability due to changes in plan benefits are recognized in the net periodic benefit costs through straight-line amortization over the average remaining service period of employees expected to receive benefits. | ||||||||||||||||
Pension Benefits | ||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||
Components of net periodic benefit cost | ||||||||||||||||
Service cost | $ | 2,485 | $ | 2,126 | $ | 1,968 | ||||||||||
Interest cost | 6,934 | 7,715 | 8,133 | |||||||||||||
Expected return on plan assets | (10,795 | ) | (9,181 | ) | (7,674 | ) | ||||||||||
Settlement costs | 3,087 | — | 1,368 | |||||||||||||
Amortization of unrecognized: | ||||||||||||||||
Prior service cost | (9 | ) | (10 | ) | (395 | ) | ||||||||||
Net actuarial loss | 5,471 | 8,323 | 5,110 | |||||||||||||
Net periodic benefit cost | $ | 7,173 | $ | 8,973 | $ | 8,510 | ||||||||||
Assumptions: | ||||||||||||||||
Discount rate - qualified plans | 3.50% | 4.50% | 5.25% | |||||||||||||
Discount rate - nonqualified plans | 3.25% | 1.75% | 2.75% | |||||||||||||
Expected return on plan assets | 7.50% | 7.50% | 7.50% | |||||||||||||
Rate of compensation increase - qualified plans | 4.00% | 4.00% | 4.00% | |||||||||||||
Rate of compensation increase - nonqualified plans | 4.00% | 4.00% | 4.00% | |||||||||||||
Measurement date - qualified plans | 11/30/12 | 11/30/11 | 11/30/10 | |||||||||||||
Measurement date - nonqualified plans | 11/30/13 | 11/30/12 | 11/30/11 | |||||||||||||
The components of net periodic benefit income for postretirement healthcare benefits are shown below. | ||||||||||||||||
Other Postretirement Benefits | ||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||
Components of net periodic benefit income | ||||||||||||||||
Interest cost | 9 | 17 | 23 | |||||||||||||
Amortization of unrecognized: | ||||||||||||||||
Prior service cost | (122 | ) | (122 | ) | (122 | ) | ||||||||||
Net actuarial gain | (149 | ) | (121 | ) | (130 | ) | ||||||||||
Net periodic benefit income | $ | (262 | ) | $ | (226 | ) | $ | (229 | ) | |||||||
Assumptions: | ||||||||||||||||
Discount rate | 2.25 | % | 3.5 | % | 3.75 | % | ||||||||||
Measurement date | 11/30/12 | 11/30/11 | 11/30/10 | |||||||||||||
Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year [Table Text Block] | ' | |||||||||||||||
The estimated amounts that will be amortized from Accumulated other comprehensive loss at November 30, 2013 into net periodic benefit cost, pre-tax, in fiscal year 2014 are as follows: | ||||||||||||||||
Pension | Other | |||||||||||||||
Benefits | Postretirement | |||||||||||||||
Benefits | ||||||||||||||||
Prior service cost (credit) | $ | (10 | ) | $ | (123 | ) | ||||||||||
Actuarial loss (gain) | 2,882 | (149 | ) | |||||||||||||
Total | $ | 2,872 | $ | (272 | ) | |||||||||||
Schedule of Expected Benefit Payments [Table Text Block] | ' | |||||||||||||||
The expected cash benefit payments from the plans for the next ten fiscal years are as follows: | ||||||||||||||||
Pension | Other | |||||||||||||||
Benefits | Postretirement | |||||||||||||||
Benefits | ||||||||||||||||
2014 | $ | 8,089 | $ | 62 | ||||||||||||
2015 | 8,441 | 57 | ||||||||||||||
2016 | 8,767 | 46 | ||||||||||||||
2017 | 9,212 | 38 | ||||||||||||||
2018 | 9,646 | 34 | ||||||||||||||
2019-2023 | 56,655 | 105 | ||||||||||||||
Schedule of Costs of Retirement Plans [Table Text Block] | ' | |||||||||||||||
The Company also sponsors various defined contribution plans that provide employees with an opportunity to accumulate funds for their retirement. The Company may match, at its discretion, the contributions of participating employees in the respective plans. The Company recognized expense related to these plans for the past three fiscal years as follows: | ||||||||||||||||
2013 | $ | 4,482 | ||||||||||||||
2012 | 4,377 | |||||||||||||||
2011 | 3,933 | |||||||||||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | |||||||||||
Nov. 30, 2013 | ||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||
Summary of income tax contingencies | ' | |||||||||||
The following is a reconciliation of the beginning and ending amount of gross unrecognized tax benefits for uncertain tax positions, including positions which impact only the timing of tax benefits for the years ended November 30, 2013, 2012 and 2011. | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Unrecognized tax benefits at December 1, | $ | 2,209 | $ | 3,015 | $ | 2,783 | ||||||
Additions for current period tax positions | 668 | 382 | 591 | |||||||||
Reductions for current period tax positions | — | (37 | ) | — | ||||||||
Additions for prior period tax positions | — | — | — | |||||||||
Reductions for prior period tax positions | (40 | ) | (631 | ) | (193 | ) | ||||||
Reductions for lapse of statue of limitations/settlements | (431 | ) | (460 | ) | (203 | ) | ||||||
Changes in interest and penalties | (251 | ) | (60 | ) | 37 | |||||||
Unrecognized tax benefits at November 30, | $ | 2,155 | $ | 2,209 | $ | 3,015 | ||||||
Schedule of provisions for income taxes | ' | |||||||||||
The provision for income taxes consisted of: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Current: | ||||||||||||
Federal | $ | 34,414 | $ | 37,673 | $ | 34,374 | ||||||
State | 2,918 | 2,484 | 1,558 | |||||||||
Foreign | 9,096 | 10,228 | 11,784 | |||||||||
Deferred: | ||||||||||||
Federal | 8,676 | 8,763 | 9,196 | |||||||||
State | (165 | ) | 805 | 1,086 | ||||||||
Foreign | 1,011 | (296 | ) | (1,051 | ) | |||||||
$ | 55,950 | $ | 59,657 | $ | 56,947 | |||||||
Schedule of earnings before income taxes and noncontrolling interests | ' | |||||||||||
Earnings before income taxes and noncontrolling interests included the following components: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Domestic income | $ | 141,224 | $ | 145,433 | $ | 139,840 | ||||||
Foreign income | 33,076 | 37,564 | 41,468 | |||||||||
$ | 174,300 | $ | 182,997 | $ | 181,308 | |||||||
Schedule of effective tax rate breakdown | ' | |||||||||||
The provision for income taxes resulted in effective tax rates that differ from the statutory federal income tax rates. The reasons for these differences are as follows: | ||||||||||||
Percent of Pre-Tax Earnings | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Statutory U.S. tax rates | 35 | % | 35 | % | 35 | % | ||||||
State income taxes, net of federal benefit | 1 | 1.4 | 1.3 | |||||||||
Tax credits | (0.6 | ) | (0.1 | ) | (0.7 | ) | ||||||
Foreign taxes at different rates, net of credits | (1.6 | ) | (2.0 | ) | (2.5 | ) | ||||||
Domestic production activities deduction | (2.2 | ) | (2.6 | ) | (2.4 | ) | ||||||
Other, net | 0.5 | 0.9 | 0.7 | |||||||||
32.1 | % | 32.6 | % | 31.4 | % | |||||||
Components of net deferred tax liabilities | ' | |||||||||||
The components of the net deferred tax liability as of November 30, 2013 and 2012 were as follows: | ||||||||||||
2013 | 2012 | |||||||||||
Deferred tax assets: | ||||||||||||
Deferred compensation | $ | 7,945 | $ | 9,925 | ||||||||
Loss carryforward and tax credit items | 2,529 | 2,603 | ||||||||||
Accounts receivable | 5,973 | 5,911 | ||||||||||
Inventories | 5,000 | 5,062 | ||||||||||
Pensions | 4,781 | 26,222 | ||||||||||
Accrued liabilities and other | 1,219 | 1,403 | ||||||||||
Valuation allowance | (1,102 | ) | (1,911 | ) | ||||||||
Total deferred tax assets, net | 26,345 | 49,215 | ||||||||||
Deferred tax liabilities: | ||||||||||||
Percentage of completion | (539 | ) | (366 | ) | ||||||||
Plant assets | (24,182 | ) | (25,708 | ) | ||||||||
Goodwill and acquired intangible assets | (40,380 | ) | (39,431 | ) | ||||||||
Other deferred tax liabilities | (345 | ) | (402 | ) | ||||||||
Total deferred tax liabilities | (65,446 | ) | (65,907 | ) | ||||||||
Deferred tax liability, net | $ | (39,101 | ) | $ | (16,692 | ) |
Incentive_Plans_and_StockBased1
Incentive Plans and Stock-Based Compensation (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Nov. 30, 2013 | |||||||||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||||||||||||
Allocation of share-based compensation costs | ' | ||||||||||||||||||||||||
The following table summarizes information related to restricted stock unit awards during the years ended November 30, 2013, 2012 and 2011. | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Pre-tax compensation expense | $ | 888 | $ | 1,229 | $ | 1,079 | |||||||||||||||||||
Deferred tax benefits | (319 | ) | (451 | ) | (396 | ) | |||||||||||||||||||
Excess tax (expense) benefit associated with tax deductions (under) over the amount of compensation expense recognized in the consolidated financial statements | 1,280 | (88 | ) | 3 | |||||||||||||||||||||
Fair value of restricted stock unit awards on date of grant | 1,068 | 1,489 | 1,263 | ||||||||||||||||||||||
Fair value of restricted stock unit awards vested | 621 | 2,359 | 905 | ||||||||||||||||||||||
The following table summarizes information related to directors' stock compensation during the years ended November 30, 2013, 2012 and 2011. | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Pre-tax compensation expense | $ | 960 | $ | 200 | $ | 200 | |||||||||||||||||||
Shares of Company common stock issued under the plans | 18,256 | 4,055 | 4,540 | ||||||||||||||||||||||
The following table summarizes information related to stock options and stock option exercises during the years ended November 30, 2013, 2012 and 2011. | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Pre-tax compensation expense | $ | 3,212 | $ | 4,997 | $ | 4,397 | |||||||||||||||||||
Deferred tax benefits | (1,153 | ) | (1,836 | ) | (1,616 | ) | |||||||||||||||||||
Excess tax benefits associated with tax deductions over the amount of compensation expense recognized in the consolidated financial statements | 7,231 | 2,007 | 5,100 | ||||||||||||||||||||||
Fair value of options granted | 3,868 | 6,407 | 5,803 | ||||||||||||||||||||||
Total intrinsic value of options exercised | 29,384 | 8,793 | 16,732 | ||||||||||||||||||||||
Cash received upon exercise of options | 33,778 | 5,170 | 7,233 | ||||||||||||||||||||||
Addition to capital in excess of par value due to exercise of stock options | 38,903 | 5,440 | 8,045 | ||||||||||||||||||||||
Schedule of nonqualified stock option activity | ' | ||||||||||||||||||||||||
The following table summarizes activity with respect to nonqualified stock options granted by the Company and includes options granted under the 2009, 2004 and 1994 Incentive Plans. | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Options | Weighted | Options | Weighted | Options | Weighted | ||||||||||||||||||||
Granted | Average | Granted | Average | Granted | Average | ||||||||||||||||||||
under | Exercise | under | Exercise | under | Exercise | ||||||||||||||||||||
Incentive | Price | Incentive | Price | Incentive | Price | ||||||||||||||||||||
Plans | Plans | Plans | |||||||||||||||||||||||
Outstanding at beginning of year | 3,037,151 | $ | 36.09 | 2,907,533 | $ | 32.39 | 3,229,410 | $ | 29.07 | ||||||||||||||||
Granted | 387,500 | $ | 45.25 | 512,850 | $ | 49.84 | 494,750 | $ | 43 | ||||||||||||||||
Exercised | (1,191,752 | ) | $ | 30.3 | (353,793 | ) | $ | 25.28 | (774,661 | ) | $ | 25.12 | |||||||||||||
Surrendered | (24,585 | ) | $ | 42.48 | (29,439 | ) | $ | 40.17 | (41,966 | ) | $ | 36.06 | |||||||||||||
Outstanding at end of year | 2,208,314 | $ | 40.76 | 3,037,151 | $ | 36.09 | 2,907,533 | $ | 32.39 | ||||||||||||||||
Exercisable at end of year | 1,413,100 | $ | 38.19 | 2,035,267 | $ | 32.54 | 1,971,197 | $ | 30 | ||||||||||||||||
Schedule of outstanding and exercisable options | ' | ||||||||||||||||||||||||
The following table summarizes information about the Company’s outstanding and exercisable options at November 30, 2013. | |||||||||||||||||||||||||
Options Outstanding | Options Exercisable | ||||||||||||||||||||||||
Range of Exercise | Number | Weighted | Intrinsic Value | Weighted | Number | Weighted | Intrinsic Value | Weighted | |||||||||||||||||
Prices | Average | Average | Average | Average | |||||||||||||||||||||
Exercise | Remaining Life | Exercise | Remaining Life | ||||||||||||||||||||||
Price | in Years | Price | in Years | ||||||||||||||||||||||
$22.80 - $28.79 | 157,850 | $ | 26.84 | $ | 5,318 | 2.48 | 157,850 | $ | 26.84 | $ | 5,318 | 2.48 | |||||||||||||
$31.96 - $38.06 | 726,403 | $ | 33.83 | 19,395 | 4.51 | 672,844 | $ | 33.95 | 17,885 | 4.39 | |||||||||||||||
$40.73 - $55.01 | 1,324,061 | $ | 46.22 | 18,954 | 8.19 | 582,406 | $ | 46.16 | 8,368 | 7.7 | |||||||||||||||
2,208,314 | $ | 40.76 | $ | 43,667 | 6.57 | 1,413,100 | $ | 38.19 | $ | 31,571 | 5.54 | ||||||||||||||
Schedule of Black-Scholes option pricing model on options granted | ' | ||||||||||||||||||||||||
The fair value of each option grant is estimated on the date of grant using the Black-Scholes option pricing model with the following weighted average assumptions by grant year. | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Weighted average fair value per option at the date of grant for options granted | $ | 9.98 | $ | 12.49 | $ | 11.73 | |||||||||||||||||||
Risk-free interest rate | 1.19 | % | 1.38 | % | 2.52 | % | |||||||||||||||||||
Expected dividend yield | 1.19 | % | 0.96 | % | 0.98 | % | |||||||||||||||||||
Expected volatility factor | 25.8 | % | 26.52 | % | 25.54 | % | |||||||||||||||||||
Expected option term in years | 5.4 | 6.1 | 6.4 | ||||||||||||||||||||||
Schedule of restricted stock unit awards | ' | ||||||||||||||||||||||||
The following table summarizes the restricted stock unit awards. | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Units | Weighted | Units | Weighted | Units | Weighted | ||||||||||||||||||||
Average | Average | Average | |||||||||||||||||||||||
Grant Date | Grant Date | Grant Date | |||||||||||||||||||||||
Fair Value | Fair Value | Fair Value | |||||||||||||||||||||||
Nonvested at beginning of year | 39,945 | $ | 43.16 | 71,545 | $ | 36.95 | 70,894 | $ | 33.23 | ||||||||||||||||
Granted | 23,624 | $ | 45.19 | 29,839 | $ | 49.91 | 29,467 | $ | 42.86 | ||||||||||||||||
Vested | (15,525 | ) | $ | 40.01 | (60,320 | ) | $ | 39.11 | (26,937 | ) | $ | 33.61 | |||||||||||||
Surrendered | — | $ | — | (1,119 | ) | $ | 44.15 | (1,879 | ) | $ | 37.18 | ||||||||||||||
Nonvested at end of year | 48,044 | $ | 45.18 | 39,945 | $ | 43.16 | 71,545 | $ | 36.95 | ||||||||||||||||
Schedule of shares issues under employee stock purchase plans | ' | ||||||||||||||||||||||||
The Company issued stock under this plan with fair value upon issuance as follows during the years ended November 30, 2013, 2012 and 2011. | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Company stock issued under the plan | $ | 1,269 | $ | 1,244 | $ | 1,216 | |||||||||||||||||||
Earnings_Per_Share_and_Stock_R1
Earnings Per Share and Stock Repurchase Activity (Tables) | 12 Months Ended | |||||||||||
Nov. 30, 2013 | ||||||||||||
Earnings Per Share and Stock Repurchase Activity [Abstract] | ' | |||||||||||
Schedule of Weighted Average Number of Shares [Table Text Block] | ' | |||||||||||
The following table provides a reconciliation of the denominators utilized in the calculation of basic and diluted earnings per share: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Weighted average number of shares outstanding | 49,988,577 | 50,285,480 | 50,501,842 | |||||||||
Dilutive effect of stock-based arrangements | 550,370 | 596,711 | 689,593 | |||||||||
Weighted average number of diluted shares outstanding | 50,538,947 | 50,882,191 | 51,191,435 | |||||||||
Net earnings attributable to CLARCOR Inc. | $ | 118,076 | $ | 122,986 | $ | 124,003 | ||||||
Net earnings per common share attributable to CLARCOR Inc. - Basic | $ | 2.36 | $ | 2.45 | $ | 2.46 | ||||||
Net earnings per common share attributable to CLARCOR Inc. - Diluted | $ | 2.34 | $ | 2.42 | $ | 2.42 | ||||||
Additional Information Earnings Per Share and Stock Repurchase Activity [Table Text Block] | ' | |||||||||||
The following table provides additional information regarding the calculation of earnings per share and stock repurchase activity. | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Number of antidilutive options with exercise prices greater than the average market price excluded from the computation of dilutive earnings per share | 125,135 | 508,167 | 60,000 | |||||||||
Common stock repurchased and retired pursuant to the Company's stock repurchase program | $ | 27,708 | $ | 37,320 | $ | 29,317 | ||||||
Number of shares repurchased and retired pursuant to the Company's stock repurchase program | 534,100 | 792,881 | 683,776 | |||||||||
Segment_Information_Tables
Segment Information (Tables) | 12 Months Ended | |||||||||||
Nov. 30, 2013 | ||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||
Schedule of Segment Reporting Information, by Segment [Table Text Block] | ' | |||||||||||
The following tables provides segment data for the years ended November 30, 2013, 2012 and 2011: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Net sales: | ||||||||||||
Engine/Mobile Filtration | $ | 507,024 | $ | 503,607 | $ | 510,012 | ||||||
Industrial/Environmental Filtration | 549,746 | 541,364 | 523,026 | |||||||||
Packaging | 74,000 | 76,794 | 93,563 | |||||||||
$ | 1,130,770 | $ | 1,121,765 | $ | 1,126,601 | |||||||
Operating profit: | ||||||||||||
Engine/Mobile Filtration | $ | 106,345 | $ | 111,653 | $ | 112,839 | ||||||
Industrial/Environmental Filtration | 61,996 | 64,766 | 58,028 | |||||||||
Packaging | 6,275 | 6,295 | 10,400 | |||||||||
174,616 | 182,714 | 181,267 | ||||||||||
Other income (expense), net | (316 | ) | 283 | 41 | ||||||||
Earnings before income taxes | $ | 174,300 | $ | 182,997 | $ | 181,308 | ||||||
2013 | 2012 | 2011 | ||||||||||
Identifiable assets: | ||||||||||||
Engine/Mobile Filtration | $ | 397,545 | $ | 372,011 | $ | 338,197 | ||||||
Industrial/Environmental Filtration | 715,759 | 706,610 | 693,266 | |||||||||
Packaging | 41,030 | 36,350 | 39,571 | |||||||||
Corporate | 294,509 | 90,531 | 63,899 | |||||||||
$ | 1,448,843 | $ | 1,205,502 | $ | 1,134,933 | |||||||
Additions to property, plant and equipment: | ||||||||||||
Engine/Mobile Filtration | $ | 19,809 | $ | 24,062 | $ | 11,406 | ||||||
Industrial/Environmental Filtration | 21,467 | 9,264 | 8,775 | |||||||||
Packaging | 2,467 | 3,250 | 3,824 | |||||||||
Corporate | 908 | 71 | 166 | |||||||||
$ | 44,651 | $ | 36,647 | $ | 24,171 | |||||||
Depreciation and amortization: | ||||||||||||
Engine/Mobile Filtration | $ | 10,488 | $ | 9,327 | $ | 9,325 | ||||||
Industrial/Environmental Filtration | 18,093 | 18,692 | 19,231 | |||||||||
Packaging | 2,859 | 3,090 | 3,166 | |||||||||
Corporate | 793 | 706 | 713 | |||||||||
$ | 32,233 | $ | 31,815 | $ | 32,435 | |||||||
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area [Table Text Block] | ' | |||||||||||
Financial data relating to the geographic areas in which the Company operates are shown for the years ended November 30, 2013, 2012 and 2011. Net sales by geographic area are based on sales to final customers within that region. | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Net sales: | ||||||||||||
United States | $ | 778,952 | $ | 779,811 | $ | 775,987 | ||||||
Europe | 96,255 | 102,144 | 106,712 | |||||||||
Asia | 103,030 | 98,880 | 95,363 | |||||||||
Other International | 152,533 | 140,930 | 148,539 | |||||||||
$ | 1,130,770 | $ | 1,121,765 | $ | 1,126,601 | |||||||
Property, plant and equipment, at cost, less accumulated depreciation: | ||||||||||||
United States | $ | 183,166 | $ | 173,018 | $ | 164,712 | ||||||
Europe | 12,499 | 3,619 | 2,924 | |||||||||
Asia | 2,702 | 8,013 | 7,561 | |||||||||
Other International | 10,586 | 10,451 | 9,795 | |||||||||
$ | 208,953 | $ | 195,101 | $ | 184,992 | |||||||
Selected_Quarterly_Financial_D1
Selected Quarterly Financial Data (Tables) | 12 Months Ended | |||||||||||||||
Nov. 30, 2013 | ||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | |||||||||||||||
Schedule of Quarterly Financial Information [Table Text Block] | ' | |||||||||||||||
The following table provides unaudited quarterly data for 2013 and 2012: | ||||||||||||||||
First | Second | Third | Fourth | |||||||||||||
Quarter | Quarter | Quarter | Quarter | |||||||||||||
2013 | ||||||||||||||||
Net sales | $ | 256,271 | $ | 287,583 | $ | 289,126 | $ | 297,790 | ||||||||
Gross profit | 81,486 | 98,214 | 91,900 | 98,609 | ||||||||||||
Net earnings | 23,528 | 33,153 | 28,773 | 32,896 | ||||||||||||
Net earnings attributable to CLARCOR Inc. | 23,462 | 33,051 | 28,707 | 32,856 | ||||||||||||
Net earnings per common share attributable to CLARCOR Inc. - Basic | $ | 0.47 | $ | 0.66 | $ | 0.57 | $ | 0.65 | ||||||||
Net earnings per common share attributable to CLARCOR Inc. - Diluted | $ | 0.47 | $ | 0.66 | $ | 0.57 | $ | 0.65 | ||||||||
Dividends declared and paid per common share | $ | 0.135 | $ | 0.135 | $ | 0.135 | $ | 0.17 | ||||||||
2012 | ||||||||||||||||
Net sales | $ | 257,264 | $ | 284,855 | $ | 286,733 | $ | 292,913 | ||||||||
Gross profit | 86,215 | 98,185 | 94,888 | 101,044 | ||||||||||||
Net earnings | 23,492 | 33,079 | 30,411 | 36,358 | ||||||||||||
Net earnings attributable to CLARCOR Inc. | 23,479 | 32,927 | 30,270 | 36,310 | ||||||||||||
Net earnings per common share attributable to CLARCOR Inc. - Basic | $ | 0.47 | $ | 0.65 | $ | 0.6 | $ | 0.73 | ||||||||
Net earnings per common share attributable to CLARCOR Inc. - Diluted | $ | 0.46 | $ | 0.65 | $ | 0.6 | $ | 0.72 | ||||||||
Dividends declared and paid per common share | $ | 0.12 | $ | 0.12 | $ | 0.12 | $ | 0.135 | ||||||||
Basis_of_Presentation_and_Sign3
Basis of Presentation and Significant Accounting Policies (Details 1) (USD $) | 12 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||||||||
In Thousands, unless otherwise specified | Nov. 30, 2013 | Dec. 01, 2012 | Dec. 03, 2011 | Nov. 30, 2013 | Nov. 30, 2013 | Nov. 30, 2013 | Nov. 30, 2013 | Nov. 30, 2013 | Nov. 30, 2013 | Nov. 30, 2013 | Mar. 02, 2013 | Jun. 01, 2013 | Dec. 01, 2012 | Dec. 03, 2011 |
segments | Patents [Member] | Other Acquired Intangibles [Member] | Other Acquired Intangibles [Member] | Building and Building Improvements [Member] | Building and Building Improvements [Member] | Machinery and Equipment [Member] | Machinery and Equipment [Member] | Adjustment [Member] | Adjustment [Member] | Adjustment [Member] | Adjustment [Member] | |||
Weighted Average [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | ||||||||
Schedule of Consolidated Financial Disclosures [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of segments | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business acquisitions, net of cash acquired | $0 | ($5,411) | ($11,121) | ' | ' | ' | ' | ' | ' | ' | ' | ' | $9,082 | $5,637 |
Payments on long-term debt, including business acquisition-related seller financing | -4,037 | -10,500 | -7,490 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9,082 | 5,637 |
Net cash used in investing activities | -42,090 | -42,128 | -33,527 | ' | ' | ' | ' | ' | ' | ' | 2,281 | 3,811 | ' | ' |
Net cash provided by (used in) financing activities | 132,582 | -64,873 | -45,540 | ' | ' | ' | ' | ' | ' | ' | 2,281 | 3,811 | ' | ' |
Foreign currency transaction gain (loss) | -520 | -847 | 44 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restricted cash, noncurrent | 1,896 | 1,839 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Components of Inventory [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Raw materials | 80,741 | 75,928 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Work in process | 34,402 | 34,996 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Finished products | 103,643 | 100,327 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Inventories | 218,786 | 211,251 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Useful life of property, plant and equipment (in years) | ' | ' | ' | ' | ' | ' | '15 years | '40 years | '3 years | '15 years | ' | ' | ' | ' |
Useful life of intangible assets (in years) | ' | ' | ' | '13 years | '1 year | '30 years | ' | ' | ' | ' | ' | ' | ' | ' |
Recognition period of compensation expenses from date of grant (in years) | '4 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue recognized under percentage of completion method | 42,002 | 34,466 | 40,072 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Research and development expense | 11,334 | 11,811 | 10,989 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Letters of credit outstanding, amount | $28,541 | $23,307 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basis_of_Presentation_and_Sign4
Basis of Presentation and Significant Accounting Policies (Details 2) (USD $) | Nov. 30, 2013 | Dec. 01, 2012 | Dec. 03, 2011 |
In Thousands, unless otherwise specified | |||
Basis of Presentation and Significant Accounting Policies [Abstract] | ' | ' | ' |
Pension liability, net of tax | ($29,878) | ($50,890) | ($44,656) |
Translation adjustments, net of tax | 64 | -818 | 265 |
Accumulated other comprehensive loss | ($29,814) | ($51,708) | ($44,391) |
Business_Acquisitions_Investme2
Business Acquisitions, Investments and Redeemable Noncontrolling Interests (Details 1) (USD $) | 12 Months Ended | 0 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||||
In Thousands, unless otherwise specified | Nov. 30, 2013 | Dec. 01, 2012 | Dec. 03, 2011 | 8-May-13 | 9-May-12 | Dec. 29, 2010 | Nov. 30, 2013 | Dec. 31, 2007 | Dec. 03, 2011 | Nov. 27, 2010 | Nov. 28, 2009 | Nov. 27, 2008 | Dec. 03, 2007 | Dec. 01, 2012 | Nov. 27, 2010 | Mar. 31, 2007 | Nov. 30, 2013 | Mar. 07, 2007 | Nov. 30, 2013 | 1-May-08 | Nov. 30, 2013 | Dec. 01, 2012 | Dec. 03, 2011 | 1-May-08 | Dec. 01, 2012 | Nov. 30, 2013 | Nov. 30, 2013 | Dec. 01, 2012 | Dec. 03, 2011 |
Modular [Member] | Modular [Member] | TransWeb [Member] | TransWeb [Member] | Canadian Distributor [Member] | Canadian Distributor [Member] | Canadian Distributor [Member] | Canadian Distributor [Member] | Canadian Distributor [Member] | Canadian Distributor [Member] | 2006 I/E Acquisition [Member] | 2006 I/E Acquisition [Member] | SINFA [Member] | SINFA [Member] | SINFA [Member] | Selling and Administrative Expense [Member] | Cost-method Investments [Member] | Cost-method Investments [Member] | Cost-method Investments [Member] | Cost-method Investments [Member] | Equity Method Investee [Member] | Equity Method Investee [Member] | Equity Method Investee [Member] | Pending Litigation [Member] | Pending Litigation [Member] | Pending Litigation [Member] | ||||
TransWeb [Member] | TransWeb [Member] | TransWeb [Member] | TransWeb [Member] | ||||||||||||||||||||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Name of Investment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'BioProcess Algae LLC | ' | ' | ' | 'BioProcess H2O LLC | ' | ' | ' | ' | ' |
Business acquisition, effective date of acquisition | ' | ' | ' | ' | 9-May-12 | 29-Dec-10 | ' | 1-Dec-07 | ' | ' | ' | ' | ' | ' | ' | 7-Mar-07 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business acquisition, percentage of voting interests acquired | ' | ' | ' | ' | 100.00% | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business acquisition, name of acquired entity | ' | ' | ' | ' | 'Modular Engineering Company Pty Ltd. | 'TransWeb LLC | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'Sinfa SA | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Purchase price excluding cash acquired | ' | ' | ' | ' | $7,875 | $30,017 | ' | ' | ' | ' | ' | ' | $1,402 | ' | $666 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments to acquire businesses | ' | ' | ' | ' | 5,237 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments for Previous Acquisition | ' | ' | ' | 1,530 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 257 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business acquisition, description of acquired entity | ' | ' | ' | ' | 'a manufacturer of pressure vessels, process and storage tanks and other natural gas filtration products and distributor of aftermarket elements | 'a privately-owned manufacturer of media used in a variety of end-use applications, including respirators and HVAC filters | ' | 'a distributor of engineered filtration products in Canada | ' | ' | ' | ' | ' | ' | ' | 'manufacturer of automotive and heavy-duty engine filters | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business acquisition, reason for business acquisition | ' | ' | ' | ' | 'acquisition of Modular gave the Company first-fit manufacturing capabilities in Western Australia, as well as a platform for aftermarket growth throughout the region | 'to expand the Companybs technology capabilities in the area of media development and to enhance the product offerings of the Company's filtration operating companies | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill | 241,299 | 241,924 | 235,530 | ' | 5,339 | ' | 7,976 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business acquisition, purchase price withheld | ' | ' | ' | ' | ' | ' | 17,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Legal Fees | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,582 | ' | ' | ' | ' | ' | ' | ' | 2,113 | ' | ' |
Business acquisition, legal charges paid and applied against purchase price withheld | ' | ' | ' | ' | ' | ' | 17,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 531 | 10,140 | 6,329 |
Contingent earn-out, fair value, included in other long-term liabilities | 0 | 1,292 | ' | ' | ' | 1,018 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Change in fair value of TransWeb contingent earn-out | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business acquisition, long-term debt assumed | ' | ' | ' | ' | ' | 1,544 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Finite-lived intangible assets acquired | ' | ' | ' | ' | 2,552 | ' | 13,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Transaction costs | ' | ' | ' | ' | ' | ' | 141 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business acquisition, purchase price paid in fiscal year | ' | ' | ' | ' | ' | ' | ' | ' | 99 | 142 | 198 | 811 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity method investment, ownership percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30.00% | ' | ' | ' | ' | ' |
Equity method investments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,137 | 3,097 | ' | ' | ' |
Equity method investment, aggregate cost | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,000 | ' | ' | ' | ' | ' |
Investment in affiliate | 615 | 1,023 | 596 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 392 | 1,114 | 300 | ' | 150 | ' | ' | ' | ' |
Investment-related liabilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 21 | ' | ' | ' |
Cost method investment, ownership percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15.62% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost method investments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,204 | 1,812 | ' | ' | ' | ' | ' | ' | ' |
Investment income, dividend | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0 | $1,200 | $0 | ' | ' | ' | ' | ' | ' |
Noncontrolling interest, percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 80.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Noncontrolling interest held by noncontrolling owners | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Temporary equity, accounting treatment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'The Redeemable noncontrolling interests will be accreted to the redemption price, through equity, at the point at which the redemption becomes probable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business_Acquisitions_Investme3
Business Acquisitions, Investments and Redeemable Noncontrolling Interests (Details 2) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Nov. 30, 2013 | Aug. 31, 2013 | Jun. 01, 2013 | Mar. 02, 2013 | Dec. 01, 2012 | Sep. 01, 2012 | Jun. 02, 2012 | Mar. 03, 2012 | Nov. 30, 2013 | Dec. 01, 2012 | Dec. 03, 2011 |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | $297,790 | $289,126 | $287,583 | $256,271 | $292,913 | $286,733 | $284,855 | $257,264 | $1,130,770 | $1,121,765 | $1,126,601 |
Operating Income (Loss) | ' | ' | ' | ' | ' | ' | ' | ' | 174,616 | 182,714 | 181,267 |
TransWeb [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 5,400 | 8,607 | 13,022 |
Operating Income (Loss) | ' | ' | ' | ' | ' | ' | ' | ' | -2,262 | -378 | 2,552 |
Modular [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 7,035 | 5,314 | ' |
Operating Income (Loss) | ' | ' | ' | ' | ' | ' | ' | ' | ($1,513) | $149 | ' |
Property_Plant_and_Equipment_D
Property, Plant and Equipment (Details 1) (USD $) | 0 Months Ended | 12 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Mar. 29, 2013 | Nov. 30, 2013 | Dec. 01, 2012 | Dec. 03, 2011 | Dec. 01, 2012 | Dec. 01, 2012 | Nov. 30, 2013 | Aug. 31, 2013 | Nov. 30, 2013 | Dec. 01, 2012 |
Land [Member] | Building and Building Improvements [Member] | Cost of Sales [Member] | Air Filtration [Member] | Accounts Payable and Accrued Liabilities [Member] | Accounts Payable and Accrued Liabilities [Member] | |||||
Cost of Sales [Member] | ||||||||||
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Land | ' | $9,444 | $9,326 | ' | ' | ' | ' | ' | ' | ' |
Buildings and building fixtures | ' | 119,207 | 107,857 | ' | ' | ' | ' | ' | ' | ' |
Machinery and equipment | ' | 388,669 | 372,358 | ' | ' | ' | ' | ' | ' | ' |
Construction in process | ' | 24,420 | 20,578 | ' | ' | ' | ' | ' | ' | ' |
Property, plant and equipment, at cost, gross | ' | 541,740 | 510,119 | ' | ' | ' | ' | ' | ' | ' |
Accumulated depreciation | ' | -332,787 | -315,018 | ' | ' | ' | ' | ' | ' | ' |
Property, plant and equipment, at cost, less accumulated depreciation | ' | 208,953 | 195,101 | 184,992 | ' | ' | ' | ' | ' | ' |
Assets held for sale | ' | 0 | 2,000 | ' | 398 | 1,602 | ' | ' | ' | ' |
Proceeds from disposition of plant assets | 2,211 | 3,373 | 534 | 327 | ' | ' | ' | ' | ' | ' |
Gain on the sale of assets | ' | -3,862 | 725 | -452 | ' | ' | 211 | 4,631 | ' | ' |
Expenses capitalized | ' | ' | ' | ' | ' | ' | ' | ' | 1,700 | 1,668 |
Capital Lease Obligations Incurred | ' | $270 | $826 | ' | ' | ' | ' | ' | ' | ' |
Goodwill_and_Acquired_Intangib2
Goodwill and Acquired Intangible Assets (Details 1) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Nov. 30, 2013 | Dec. 01, 2012 |
Goodwill [Roll Forward] | ' | ' |
Goodwill, beginning of period | $241,924 | $235,530 |
Acquisitions | 0 | 5,596 |
Currency translation adjustments | -625 | 798 |
Goodwill, end of period | 241,299 | 241,924 |
Engine Mobile Filtration [Member] | ' | ' |
Goodwill [Roll Forward] | ' | ' |
Goodwill, beginning of period | 21,593 | 21,087 |
Acquisitions | 0 | 0 |
Currency translation adjustments | 275 | 506 |
Goodwill, end of period | 21,868 | 21,593 |
Industrial Environmental Filtration [Member] | ' | ' |
Goodwill [Roll Forward] | ' | ' |
Goodwill, beginning of period | 220,331 | 214,443 |
Acquisitions | 0 | 5,596 |
Currency translation adjustments | -900 | 292 |
Goodwill, end of period | 219,431 | 220,331 |
Packaging [Member] | ' | ' |
Goodwill [Roll Forward] | ' | ' |
Goodwill, beginning of period | 0 | 0 |
Acquisitions | 0 | 0 |
Currency translation adjustments | 0 | 0 |
Goodwill, end of period | $0 | $0 |
Goodwill_and_Acquired_Intangib3
Goodwill and Acquired Intangible Assets (Details 2) (USD $) | Nov. 30, 2013 | Dec. 01, 2012 |
In Thousands, unless otherwise specified | ||
Indefinite and Finite-Lived Intangible Assets [Line Items] | ' | ' |
Trademarks - indefinite lived | $42,661 | $42,332 |
Intangible asset, net - finite lived | 47,220 | 53,349 |
Acquired intangible assets, less accumulated amortization | 89,881 | 95,681 |
Trademarks [Member] | ' | ' |
Indefinite and Finite-Lived Intangible Assets [Line Items] | ' | ' |
Intangible asset, gross - finite lived | 795 | 788 |
Accumulated amortization - finite lived intangible asset | -433 | -405 |
Intangible asset, net - finite lived | 362 | 383 |
Customer relationships [Member] | ' | ' |
Indefinite and Finite-Lived Intangible Assets [Line Items] | ' | ' |
Intangible asset, gross - finite lived | 49,553 | 49,795 |
Accumulated amortization - finite lived intangible asset | -22,031 | -18,514 |
Intangible asset, net - finite lived | 27,522 | 31,281 |
Other Acquired Intangibles [Member] | ' | ' |
Indefinite and Finite-Lived Intangible Assets [Line Items] | ' | ' |
Intangible asset, gross - finite lived | 40,137 | 40,128 |
Accumulated amortization - finite lived intangible asset | -20,801 | -18,443 |
Intangible asset, net - finite lived | 19,336 | 21,685 |
Engine Mobile Filtration [Member] | ' | ' |
Indefinite and Finite-Lived Intangible Assets [Line Items] | ' | ' |
Trademarks - indefinite lived | 603 | 603 |
Intangible asset, net - finite lived | 2,642 | 2,788 |
Acquired intangible assets, less accumulated amortization | 3,245 | 3,391 |
Engine Mobile Filtration [Member] | Trademarks [Member] | ' | ' |
Indefinite and Finite-Lived Intangible Assets [Line Items] | ' | ' |
Intangible asset, gross - finite lived | 307 | 300 |
Accumulated amortization - finite lived intangible asset | -104 | -89 |
Intangible asset, net - finite lived | 203 | 211 |
Engine Mobile Filtration [Member] | Customer relationships [Member] | ' | ' |
Indefinite and Finite-Lived Intangible Assets [Line Items] | ' | ' |
Intangible asset, gross - finite lived | 4,309 | 4,278 |
Accumulated amortization - finite lived intangible asset | -1,870 | -1,701 |
Intangible asset, net - finite lived | 2,439 | 2,577 |
Engine Mobile Filtration [Member] | Other Acquired Intangibles [Member] | ' | ' |
Indefinite and Finite-Lived Intangible Assets [Line Items] | ' | ' |
Intangible asset, gross - finite lived | 243 | 243 |
Accumulated amortization - finite lived intangible asset | -243 | -243 |
Intangible asset, net - finite lived | 0 | 0 |
Industrial Environmental Filtration [Member] | ' | ' |
Indefinite and Finite-Lived Intangible Assets [Line Items] | ' | ' |
Trademarks - indefinite lived | 42,058 | 41,729 |
Intangible asset, net - finite lived | 44,578 | 50,561 |
Acquired intangible assets, less accumulated amortization | 86,636 | 92,290 |
Industrial Environmental Filtration [Member] | Trademarks [Member] | ' | ' |
Indefinite and Finite-Lived Intangible Assets [Line Items] | ' | ' |
Intangible asset, gross - finite lived | 488 | 488 |
Accumulated amortization - finite lived intangible asset | -329 | -316 |
Intangible asset, net - finite lived | 159 | 172 |
Industrial Environmental Filtration [Member] | Customer relationships [Member] | ' | ' |
Indefinite and Finite-Lived Intangible Assets [Line Items] | ' | ' |
Intangible asset, gross - finite lived | 45,244 | 45,517 |
Accumulated amortization - finite lived intangible asset | -20,161 | -16,813 |
Intangible asset, net - finite lived | 25,083 | 28,704 |
Industrial Environmental Filtration [Member] | Other Acquired Intangibles [Member] | ' | ' |
Indefinite and Finite-Lived Intangible Assets [Line Items] | ' | ' |
Intangible asset, gross - finite lived | 39,894 | 39,885 |
Accumulated amortization - finite lived intangible asset | -20,558 | -18,200 |
Intangible asset, net - finite lived | 19,336 | 21,685 |
Packaging [Member] | ' | ' |
Indefinite and Finite-Lived Intangible Assets [Line Items] | ' | ' |
Trademarks - indefinite lived | 0 | 0 |
Intangible asset, net - finite lived | 0 | 0 |
Acquired intangible assets, less accumulated amortization | 0 | 0 |
Packaging [Member] | Trademarks [Member] | ' | ' |
Indefinite and Finite-Lived Intangible Assets [Line Items] | ' | ' |
Intangible asset, gross - finite lived | 0 | 0 |
Accumulated amortization - finite lived intangible asset | 0 | 0 |
Intangible asset, net - finite lived | 0 | 0 |
Packaging [Member] | Customer relationships [Member] | ' | ' |
Indefinite and Finite-Lived Intangible Assets [Line Items] | ' | ' |
Intangible asset, gross - finite lived | 0 | 0 |
Accumulated amortization - finite lived intangible asset | 0 | 0 |
Intangible asset, net - finite lived | 0 | 0 |
Packaging [Member] | Other Acquired Intangibles [Member] | ' | ' |
Indefinite and Finite-Lived Intangible Assets [Line Items] | ' | ' |
Intangible asset, gross - finite lived | 0 | 0 |
Accumulated amortization - finite lived intangible asset | 0 | 0 |
Intangible asset, net - finite lived | $0 | $0 |
Goodwill_and_Acquired_Intangib4
Goodwill and Acquired Intangible Assets (Details 3) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Nov. 30, 2013 | Dec. 01, 2012 | Dec. 03, 2011 |
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ' | ' |
Amortization | $5,904 | $5,890 | $5,609 |
Goodwill_and_Acquired_Intangib5
Goodwill and Acquired Intangible Assets (Details 4) (USD $) | Nov. 30, 2013 |
In Thousands, unless otherwise specified | |
Estimated amortization expense for the next five years: | ' |
2014 | $5,685 |
2015 | 5,623 |
2016 | 5,448 |
2017 | 5,253 |
2018 | $4,589 |
Goodwill_and_Acquired_Intangib6
Goodwill and Acquired Intangible Assets (Details 5) (USD $) | Nov. 30, 2013 | Dec. 01, 2012 | Aug. 31, 2013 |
In Thousands, unless otherwise specified | TransWeb [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Trademarks - indefinite lived | $42,661 | $42,332 | $900 |
Intangible asset, gross - finite lived | ' | ' | $9,332 |
Fair_Value_Measurements_Detail
Fair Value Measurements (Details 1) (USD $) | Nov. 30, 2013 | Dec. 01, 2012 | Nov. 30, 2013 | Dec. 01, 2012 | Nov. 30, 2013 | Dec. 01, 2012 | Nov. 30, 2013 | Dec. 01, 2012 | Nov. 30, 2013 | Dec. 01, 2012 | Nov. 30, 2013 | Dec. 01, 2012 | Nov. 30, 2013 | Dec. 01, 2012 | Nov. 30, 2013 | Dec. 01, 2012 | Nov. 30, 2013 | Dec. 01, 2012 | Nov. 30, 2013 | Dec. 01, 2012 | Nov. 30, 2013 | Dec. 01, 2012 | Nov. 30, 2013 | Dec. 01, 2012 | Nov. 30, 2013 | Dec. 01, 2012 | Nov. 30, 2013 | Dec. 01, 2012 | Nov. 30, 2013 | Dec. 01, 2012 | Nov. 30, 2013 | Dec. 01, 2012 | Nov. 30, 2013 | Dec. 29, 2010 |
In Thousands, unless otherwise specified | Mutual fund investments - equities [Member] | Mutual fund investments - equities [Member] | Mutual fund investments - bonds [Member] | Mutual fund investments - bonds [Member] | Cash and equivalents [Member] | Cash and equivalents [Member] | Level 1 [Member] | Level 1 [Member] | Level 1 [Member] | Level 1 [Member] | Level 1 [Member] | Level 1 [Member] | Level 1 [Member] | Level 1 [Member] | Level 2 [Member] | Level 2 [Member] | Level 2 [Member] | Level 2 [Member] | Level 2 [Member] | Level 2 [Member] | Level 2 [Member] | Level 2 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | TransWeb [Member] | TransWeb [Member] | ||
Mutual fund investments - equities [Member] | Mutual fund investments - equities [Member] | Mutual fund investments - bonds [Member] | Mutual fund investments - bonds [Member] | Cash and equivalents [Member] | Cash and equivalents [Member] | Mutual fund investments - equities [Member] | Mutual fund investments - equities [Member] | Mutual fund investments - bonds [Member] | Mutual fund investments - bonds [Member] | Cash and equivalents [Member] | Cash and equivalents [Member] | Mutual fund investments - equities [Member] | Mutual fund investments - equities [Member] | Mutual fund investments - bonds [Member] | Mutual fund investments - bonds [Member] | Cash and equivalents [Member] | Cash and equivalents [Member] | |||||||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restricted trust, included in other noncurrent assets | $1,024 | $1,070 | $593 | $614 | $400 | $425 | $31 | $31 | $1,024 | $1,070 | $593 | $614 | $400 | $425 | $31 | $31 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | ' | ' |
TransWeb contingent earn-out, included in other long-term liabilities | 0 | 1,292 | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ' | ' | ' | 0 | 1,292 | ' | ' | ' | ' | ' | ' | ' | 1,018 |
Change in fair value of TransWeb contingent earn-out | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0 | ' |
Fair_Value_Measurements_Detail1
Fair Value Measurements (Details 2) (USD $) | Nov. 30, 2013 | Dec. 01, 2012 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Long-term debt carrying value | $166,636,000 | $16,592,000 |
Estimate of Fair Value, Fair Value Disclosure [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Long-term debt fair value estimate | $166,288,000 | $16,532,000 |
Accounts_Payable_and_Accrued_L2
Accounts Payable and Accrued Liabilities (Details 1) (USD $) | Nov. 30, 2013 | Dec. 01, 2012 |
In Thousands, unless otherwise specified | ||
Accounts Payable and Accrued Liabilities [Line Items] | ' | ' |
Accounts payable | $79,164 | $69,206 |
Accrued salaries, wages and commissions | 14,908 | 16,884 |
Pension and postretirement healthcare benefits liabilities | 278 | 21,442 |
Compensated absences | 8,600 | 9,010 |
Accrued insurance liabilities | 7,599 | 7,733 |
Customer deposits | 16,081 | 14,207 |
Other accrued liabilities | 30,908 | 33,780 |
Accounts payable and accrued liabilities | 157,538 | 172,262 |
Chief Executive Officer, Retired [Member] | ' | ' |
Accounts Payable and Accrued Liabilities [Line Items] | ' | ' |
Pension and postretirement healthcare benefits liabilities | ' | $21,034 |
Accounts_Payable_and_Accrued_L3
Accounts Payable and Accrued Liabilities (Details 2) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Nov. 30, 2013 | Dec. 01, 2012 | Dec. 03, 2011 |
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward] | ' | ' | ' |
Warranty accrual at beginning of period | $1,533 | $2,580 | $3,499 |
Accruals for warranties issued during the period | 844 | 514 | 622 |
Adjustments related to business acquisitions | 0 | 32 | 0 |
Adjustments related to pre-existing warranties | -290 | -691 | -846 |
Settlements made during the period | -500 | -850 | -316 |
Other adjustments, including currency translation | 12 | -52 | -379 |
Warranty accrual at end of period | $1,599 | $1,533 | $2,580 |
LongTerm_Debt_Details_1
Long-Term Debt (Details 1) (USD $) | Nov. 30, 2013 | Nov. 22, 2013 | Dec. 01, 2012 |
Debt Instrument [Line Items] | ' | ' | ' |
Current portion of long-term debt | $50,223,000 | ' | $201,000 |
Long-term debt, less current portion | 116,413,000 | ' | 16,391,000 |
Maturities of Long-term Debt [Abstract] | ' | ' | ' |
2014 | 50,223,000 | ' | ' |
2015 | 226,000 | ' | ' |
2016 | 8,635,000 | ' | ' |
2017 | 100,113,000 | ' | ' |
2018 | 29,000 | ' | ' |
Thereafter | 7,410,000 | ' | ' |
Long-term debt | 166,636,000 | ' | 16,592,000 |
Letters of credit outstanding, amount | 28,541,000 | ' | 23,307,000 |
Industrial Revenue Bonds [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Weighted average interest rate | 0.23% | ' | 0.35% |
Maturities of Long-term Debt [Abstract] | ' | ' | ' |
Long-term debt | 15,820,000 | ' | 15,820,000 |
Other long-term debt [Member] | ' | ' | ' |
Maturities of Long-term Debt [Abstract] | ' | ' | ' |
Long-term debt | 816,000 | ' | 772,000 |
Revolving Credit Facility [Member] | ' | ' | ' |
Maturities of Long-term Debt [Abstract] | ' | ' | ' |
Long-term debt | 50,000,000 | ' | 0 |
Term Loan [Member] | ' | ' | ' |
Maturities of Long-term Debt [Abstract] | ' | ' | ' |
Long-term debt | 100,000,000 | 100,000,000 | 0 |
Credit Facility 2012 [Member] | Letter of Credit Subline [Member] | ' | ' | ' |
Maturities of Long-term Debt [Abstract] | ' | ' | ' |
Letters of credit outstanding, amount | $16,012,000 | ' | $16,012,000 |
LongTerm_Debt_Details_2
Long-Term Debt (Details 2) (USD $) | Nov. 30, 2013 | Dec. 01, 2012 | Nov. 30, 2013 | Nov. 22, 2013 | Dec. 01, 2012 | Nov. 30, 2013 | Dec. 01, 2012 | Nov. 30, 2013 | Apr. 05, 2012 | Apr. 05, 2012 | Apr. 05, 2012 | Nov. 30, 2013 | Dec. 01, 2012 | Nov. 30, 2013 | Dec. 01, 2012 | Nov. 30, 2013 | Dec. 01, 2012 | Nov. 30, 2013 | Dec. 01, 2012 |
Term Loan [Member] | Term Loan [Member] | Term Loan [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Credit Facility 2012 [Member] | Credit Facility 2012 [Member] | Credit Facility 2012 [Member] | Credit Facility 2012 [Member] | Credit Facility 2012 [Member] | Credit Facility 2012 [Member] | Bonds [Member] | Bonds [Member] | Bonds [Member] | Bonds [Member] | Bonds [Member] | Bonds [Member] | |||
Credit Facility - Swing Line [Member] | Credit Facility - Accordion [Member] | Letter of Credit Sub-Facility [Member] | Letter of Credit Sub-Facility [Member] | Campbellsville-Taylor County Industrial Development Authority (Kentucky) [Member] | Campbellsville-Taylor County Industrial Development Authority (Kentucky) [Member] | South Dakota Economic Development Finance Authority [Member] | South Dakota Economic Development Finance Authority [Member] | ||||||||||||
Line of Credit Facility [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of credit, term | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum borrowing capacity | ' | ' | ' | ' | ' | ' | ' | ' | $150,000,000 | $10,000,000 | $100,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term debt | 166,636,000 | 16,592,000 | 100,000,000 | 100,000,000 | 0 | 50,000,000 | 0 | ' | ' | ' | ' | ' | ' | 15,820,000 | 15,820,000 | 7,410,000 | 7,410,000 | 8,410,000 | 8,410,000 |
Weighted average interest rate | ' | ' | 0.92% | ' | ' | 0.71% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Remaining borrowing capacity | ' | ' | ' | ' | ' | 133,988,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sub-facility letters of credit maximum capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50,000,000 | ' | ' | ' | ' | ' | ' | ' |
Letters of credit outstanding, amount | $28,541,000 | $23,307,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $16,012,000 | $16,012,000 | ' | ' | ' | ' | ' | ' |
Debt instrument, maturity date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1-May-31 | ' | 1-Feb-16 | ' |
Leases_Details_1
Leases (Details 1) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Nov. 30, 2013 | Dec. 01, 2012 | Dec. 03, 2011 |
Rent expense for the years ended: | ' | ' | ' |
Rent expense | $16,124 | $16,699 | $16,518 |
Future minimum rentals under noncancelable leases: | ' | ' | ' |
2014 | 17,221 | ' | ' |
2015 | 9,001 | ' | ' |
2016 | 5,929 | ' | ' |
2017 | 3,320 | ' | ' |
2018 | 2,089 | ' | ' |
Thereafter | $7,074 | ' | ' |
Pension_and_Other_Postretireme2
Pension and Other Postretirement Plans (Details 1) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Nov. 30, 2013 | Dec. 01, 2012 | Dec. 03, 2011 |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Restricted trust, included in other noncurrent assets | $1,024 | $1,070 | ' |
Qualified U.S. Pension Plans [Member] | Voluntary Contribution [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Voluntary Contributions | 1,493 | 15,793 | 0 |
United States Pension Plans of US Entity, Defined Benefit [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets, Aggregate Projected Benefit Obligation | 174,087 | ' | ' |
Defined Benefit Plan, Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets, Aggregate Accumulated Benefit Obligation | 168,562 | ' | ' |
Defined Benefit Plan, Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets, Aggregate Fair Value of Plan Assets | 156,384 | ' | ' |
U.S. Combined Nonqualified Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets, Aggregate Projected Benefit Obligation | 2,012 | ' | ' |
Defined Benefit Plan, Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets, Aggregate Accumulated Benefit Obligation | 1,871 | ' | ' |
Forecast [Member] | United States Pension Plans of US Entity, Defined Benefit [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan Estimated Employer Contributions In Next Fiscal Year | 0 | ' | ' |
Forecast [Member] | U.S. Combined Nonqualified Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan Estimated Employer Contributions In Next Fiscal Year | 216 | ' | ' |
Forecast [Member] | Foreign Pension Plans, Defined Benefit [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan Estimated Employer Contributions In Next Fiscal Year | 409 | ' | ' |
Forecast [Member] | Other Postretirement Benefit Plans, Defined Benefit [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan Estimated Employer Contributions In Next Fiscal Year | $62 | ' | ' |
Pension_and_Other_Postretireme3
Pension and Other Postretirement Plans (Details 2) (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Nov. 30, 2013 | Dec. 01, 2012 | Dec. 03, 2011 | Jan. 01, 2007 |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' | ' |
Fair value of plan assets at beginning of year | $146,307 | ' | ' | ' |
Fair value of plan assets at end of year | 156,384 | 146,307 | ' | ' |
Defined Benefit Plan, Amounts Recognized in Balance Sheet [Abstract] | ' | ' | ' | ' |
Long-term pension and postretirement healthcare benefits liabilities | -19,792 | -50,680 | ' | ' |
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), before Tax [Abstract] | ' | ' | ' | ' |
Accumulated other comprehensive loss, after-tax | 29,878 | 50,890 | 44,656 | ' |
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income (Loss) [Abstract] | ' | ' | ' | ' |
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax | -21,029 | 6,234 | 7,614 | ' |
Pension Plans, Defined Benefit [Member] | ' | ' | ' | ' |
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | ' | ' | ' | ' |
Benefit obligation at beginning of year | 217,987 | 186,841 | ' | ' |
Currency translation | 190 | 200 | ' | ' |
Service cost | 2,485 | 2,126 | 1,968 | ' |
Interest cost | 6,934 | 7,715 | 8,133 | ' |
Plan participants' contributions | 39 | 42 | ' | ' |
Actuarial losses (gains) | -22,472 | 28,119 | ' | ' |
Benefits paid | -29,064 | -7,056 | ' | ' |
Retiree contributions | 0 | 0 | ' | ' |
Benefit obligation at end of year | 176,099 | 217,987 | 186,841 | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' | ' |
Fair value of plan assets at beginning of year | 146,307 | 112,548 | ' | ' |
Currency translation | 174 | 175 | ' | ' |
Actual return on plan assets | 14,305 | 18,325 | ' | ' |
Employer contributions | 24,623 | 22,273 | ' | ' |
Plan participants' contributions | 39 | 42 | ' | ' |
Benefits paid | -29,064 | -7,056 | ' | ' |
Fair value of plan assets at end of year | 156,384 | 146,307 | 112,548 | ' |
Funded status | -19,715 | -71,680 | ' | ' |
Accumulated benefit obligation at end of year | 170,433 | 209,572 | ' | ' |
Defined Benefit Plan, Amounts Recognized in Balance Sheet [Abstract] | ' | ' | ' | ' |
Accounts payable and accrued liabilities | -216 | -21,372 | ' | ' |
Long-term pension and postretirement healthcare benefits liabilities | -19,499 | -50,308 | ' | ' |
Funded status | -19,715 | -71,680 | ' | ' |
Accumulated other comprehensive loss, pre-tax | 48,902 | 83,392 | ' | ' |
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), before Tax [Abstract] | ' | ' | ' | ' |
Net actuarial loss (gain) | 48,914 | 83,413 | ' | ' |
Net prior service cost (credit) | -12 | -21 | ' | ' |
Accumulated other comprehensive loss, pre-tax | 48,902 | 83,392 | ' | ' |
Deferred taxes | -17,979 | -31,336 | ' | ' |
Accumulated other comprehensive loss, after-tax | 30,923 | 52,056 | ' | ' |
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income (Loss) [Abstract] | ' | ' | ' | ' |
Amortization of unrecognized prior service (cost) credit, net of tax | 3 | 3 | ' | ' |
Amortization of unrecognized actuarial (losses) gains, net of tax | -5,498 | -5,159 | ' | ' |
Current year actuarial losses (gains), net of tax | -16,637 | 11,876 | ' | ' |
Effect of change in deferred tax rate | 982 | -521 | ' | ' |
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax | -21,150 | 6,199 | ' | ' |
Defined Benefit Plan, Tax Amounts [Abstract] | ' | ' | ' | ' |
Amortization of prior service (cost) credit, tax amount | -6 | -149 | ' | ' |
Amortization of actuarial (losses) gains, tax amount | 3,164 | 2,403 | ' | ' |
Current year actuarial losses (gains), tax amount | -7,143 | -6,825 | ' | ' |
Pension Plans, Defined Benefit [Member] | Change in Plan Obligation and Assets [Member] | ' | ' | ' | ' |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract] | ' | ' | ' | ' |
Measurement date | '11/30/2013 | '11/30/2012 | ' | ' |
Pension Plans, Defined Benefit [Member] | Qualified Pension Plans [Member] | ' | ' | ' | ' |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract] | ' | ' | ' | ' |
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate | 4.50% | 3.50% | ' | ' |
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Rate of Compensation Increase | 4.00% | 4.00% | ' | ' |
Pension Plans, Defined Benefit [Member] | U.S. Combined Nonqualified Plans [Member] | ' | ' | ' | ' |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract] | ' | ' | ' | ' |
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate | 3.25% | 1.75% | ' | ' |
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Rate of Compensation Increase | 4.00% | 4.00% | ' | ' |
Other Postretirement Benefit Plans, Defined Benefit [Member] | ' | ' | ' | ' |
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | ' | ' | ' | ' |
Benefit obligation at beginning of year | 442 | 550 | ' | ' |
Currency translation | 0 | 0 | ' | ' |
Service cost | 0 | 0 | ' | ' |
Interest cost | 9 | 17 | 23 | ' |
Plan participants' contributions | 0 | 0 | ' | ' |
Actuarial losses (gains) | -73 | -189 | ' | ' |
Benefits paid | -251 | -282 | ' | ' |
Retiree contributions | 229 | 346 | ' | ' |
Benefit obligation at end of year | 356 | 442 | 550 | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' | ' |
Fair value of plan assets at beginning of year | 0 | 0 | ' | ' |
Currency translation | 0 | 0 | ' | ' |
Actual return on plan assets | 0 | 0 | ' | ' |
Employer contributions | 251 | 282 | ' | ' |
Plan participants' contributions | 0 | 0 | ' | ' |
Benefits paid | -251 | -282 | ' | ' |
Fair value of plan assets at end of year | 0 | 0 | 0 | ' |
Funded status | -356 | -442 | ' | ' |
Defined Benefit Plan, Amounts Recognized in Balance Sheet [Abstract] | ' | ' | ' | ' |
Accounts payable and accrued liabilities | -63 | -70 | ' | ' |
Long-term pension and postretirement healthcare benefits liabilities | -293 | -372 | ' | ' |
Funded status | -356 | -442 | ' | ' |
Accumulated other comprehensive loss, pre-tax | -1,632 | -1,832 | ' | ' |
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), before Tax [Abstract] | ' | ' | ' | ' |
Net actuarial loss (gain) | -1,037 | -1,114 | ' | ' |
Net prior service cost (credit) | -595 | -718 | ' | 1,708 |
Accumulated other comprehensive loss, pre-tax | -1,632 | -1,832 | ' | ' |
Deferred taxes | 587 | 666 | ' | ' |
Accumulated other comprehensive loss, after-tax | -1,045 | -1,166 | ' | ' |
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income (Loss) [Abstract] | ' | ' | ' | ' |
Amortization of unrecognized prior service (cost) credit, net of tax | 79 | 77 | ' | ' |
Amortization of unrecognized actuarial (losses) gains, net of tax | 95 | 77 | ' | ' |
Current year actuarial losses (gains), net of tax | -46 | -120 | ' | ' |
Effect of change in deferred tax rate | -7 | 1 | ' | ' |
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax | 121 | 35 | ' | ' |
Defined Benefit Plan, Tax Amounts [Abstract] | ' | ' | ' | ' |
Amortization of prior service (cost) credit, tax amount | -45 | -45 | ' | ' |
Amortization of actuarial (losses) gains, tax amount | -44 | -47 | ' | ' |
Current year actuarial losses (gains), tax amount | 68 | 9 | ' | ' |
Other Postretirement Benefit Plans, Defined Benefit [Member] | Change in Plan Obligation and Assets [Member] | ' | ' | ' | ' |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract] | ' | ' | ' | ' |
Measurement date | '11/30/2013 | '11/30/2012 | ' | ' |
Other Postretirement Benefit Plans, Defined Benefit [Member] | Qualified Pension Plans [Member] | ' | ' | ' | ' |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract] | ' | ' | ' | ' |
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate | 3.00% | 2.25% | ' | ' |
Unfunded Pension Benefit Obligation [Member] | ' | ' | ' | ' |
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | ' | ' | ' | ' |
Benefit obligation at end of year | $2,012 | $23,337 | ' | ' |
Pension_and_Other_Postretireme4
Pension and Other Postretirement Plans (Details 3) | 12 Months Ended | |
Nov. 30, 2013 | Dec. 01, 2012 | |
Defined Benefit Plan, Assets, Target Allocations [Abstract] | ' | ' |
Defined Benefit Plan, Actual Plan Asset Allocations | 100.00% | 100.00% |
Equity Securities [Member] | ' | ' |
Defined Benefit Plan, Assets, Target Allocations [Abstract] | ' | ' |
Defined Benefit Plan, Target Allocation Percentage of Assets, Equity Securities | 50.00% | ' |
Defined Benefit Plan, Actual Plan Asset Allocations | 51.00% | 60.60% |
Debt Securities [Member] | ' | ' |
Defined Benefit Plan, Assets, Target Allocations [Abstract] | ' | ' |
Defined Benefit Plan, Target Allocation Percentage of Assets, Equity Securities | 50.00% | ' |
Defined Benefit Plan, Actual Plan Asset Allocations | 48.70% | 38.90% |
Real estate funds [Member] | ' | ' |
Defined Benefit Plan, Assets, Target Allocations [Abstract] | ' | ' |
Defined Benefit Plan, Actual Plan Asset Allocations | 0.00% | 0.00% |
Cash and equivalents [Member] | ' | ' |
Defined Benefit Plan, Assets, Target Allocations [Abstract] | ' | ' |
Defined Benefit Plan, Actual Plan Asset Allocations | 0.30% | 0.50% |
Pension_and_Other_Postretireme5
Pension and Other Postretirement Plans (Details 4) (USD $) | Nov. 30, 2013 | Dec. 01, 2012 | Dec. 03, 2011 |
In Thousands, unless otherwise specified | |||
Fair Value Disclosures [Abstract] | ' | ' | ' |
Defined Benefit Plan Fair Value Of Plan Assets Before Reconciling Items | $156,384 | $146,166 | ' |
Defined Benefit Plan Fair Value Of Plan Assets Reconciling Items to Fair Value of Plan Assets | 0 | 141 | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 156,384 | 146,307 | ' |
Level 1 [Member] | ' | ' | ' |
Fair Value Disclosures [Abstract] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 156,384 | 146,166 | ' |
Level 2 [Member] | ' | ' | ' |
Fair Value Disclosures [Abstract] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | ' |
Level 3 [Member] | ' | ' | ' |
Fair Value Disclosures [Abstract] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | ' |
U.S. equity securities funds [Member] | ' | ' | ' |
Fair Value Disclosures [Abstract] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 55,129 | 61,272 | ' |
U.S. equity securities funds [Member] | Level 1 [Member] | ' | ' | ' |
Fair Value Disclosures [Abstract] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 55,129 | 61,272 | ' |
U.S. equity securities funds [Member] | Level 2 [Member] | ' | ' | ' |
Fair Value Disclosures [Abstract] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | ' |
U.S. equity securities funds [Member] | Level 3 [Member] | ' | ' | ' |
Fair Value Disclosures [Abstract] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | ' |
Non-U.S. equity securities funds [Member] | ' | ' | ' |
Fair Value Disclosures [Abstract] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 24,587 | 27,422 | ' |
Non-U.S. equity securities funds [Member] | Level 1 [Member] | ' | ' | ' |
Fair Value Disclosures [Abstract] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 24,587 | 27,422 | ' |
Non-U.S. equity securities funds [Member] | Level 2 [Member] | ' | ' | ' |
Fair Value Disclosures [Abstract] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | ' |
Non-U.S. equity securities funds [Member] | Level 3 [Member] | ' | ' | ' |
Fair Value Disclosures [Abstract] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | ' |
Fixed income securities funds [Member] | ' | ' | ' |
Fair Value Disclosures [Abstract] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 76,121 | 56,854 | ' |
Fixed income securities funds [Member] | Level 1 [Member] | ' | ' | ' |
Fair Value Disclosures [Abstract] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 76,121 | 56,854 | ' |
Fixed income securities funds [Member] | Level 2 [Member] | ' | ' | ' |
Fair Value Disclosures [Abstract] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | ' |
Fixed income securities funds [Member] | Level 3 [Member] | ' | ' | ' |
Fair Value Disclosures [Abstract] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | ' |
Real estate funds [Member] | Level 3 [Member] | ' | ' | ' |
Fair Value Disclosures [Abstract] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | 3,782 |
Cash and equivalents [Member] | ' | ' | ' |
Fair Value Disclosures [Abstract] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 547 | 618 | ' |
Cash and equivalents [Member] | Level 1 [Member] | ' | ' | ' |
Fair Value Disclosures [Abstract] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 547 | 618 | ' |
Cash and equivalents [Member] | Level 2 [Member] | ' | ' | ' |
Fair Value Disclosures [Abstract] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | ' |
Cash and equivalents [Member] | Level 3 [Member] | ' | ' | ' |
Fair Value Disclosures [Abstract] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | $0 | $0 | ' |
Pension_and_Other_Postretireme6
Pension and Other Postretirement Plans (Details 5) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Nov. 30, 2013 | Dec. 01, 2012 |
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unobservable Input [Roll Forward] | ' | ' |
Fair value of plan assets at end of year | $156,384 | $146,307 |
Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unobservable Input [Roll Forward] | ' | ' |
Fair value of plan assets at end of year | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Real estate funds [Member] | ' | ' |
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unobservable Input [Roll Forward] | ' | ' |
Fair value of plan assets at beginning of year | 0 | 3,782 |
Unrealized gains | 0 | 0 |
Realized gains | 0 | 279 |
Sale of assets | 0 | -4,061 |
Fair value of plan assets at end of year | $0 | $0 |
Pension_and_Other_Postretireme7
Pension and Other Postretirement Plans (Details 6) (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Nov. 30, 2013 | Dec. 01, 2012 | Dec. 03, 2011 | Jan. 01, 2007 |
Defined Benefit Plan, Estimated Future Benefit Payments [Abstract] | ' | ' | ' | ' |
Defined Contribution Plan, Cost Recognized | $4,482 | $4,377 | $3,933 | ' |
Pension Plans, Defined Benefit [Member] | ' | ' | ' | ' |
Components of net periodic benefit cost (income): | ' | ' | ' | ' |
Service cost | 2,485 | 2,126 | 1,968 | ' |
Interest cost | 6,934 | 7,715 | 8,133 | ' |
Expected return on plan assets | -10,795 | -9,181 | -7,674 | ' |
Settlement cost | 3,087 | 0 | 1,368 | ' |
Amortization of unrecognized: | ' | ' | ' | ' |
Prior service cost | -9 | -10 | -395 | ' |
Net actuarial loss (gain) | 5,471 | 8,323 | 5,110 | ' |
Net periodic benefit cost (income) | 7,173 | 8,973 | 8,510 | ' |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ' | ' | ' | ' |
Expected return on assets | 7.50% | 7.50% | 7.50% | ' |
Defined Benefit Plan Weighted Average Next Fiscal Year Assumptions Used In Calculating Net Periodic Benefit Cost [Abstract] | ' | ' | ' | ' |
Net prior service cost (credit) | -12 | -21 | ' | ' |
Pension and Other Postretirement Benefit Plans, Amounts that Will be Amortized from Accumulated Other Comprehensive Loss in Next Fiscal Year [Abstract] | ' | ' | ' | ' |
Prior service cost (credit) | -10 | ' | ' | ' |
Actuarial loss (gain) | 2,882 | ' | ' | ' |
Pension and Other Postretirement Benefit Plans, Amounts that Will be Amortized from Accumulated Other Comprehensive Loss in Next Fiscal Year | 2,872 | ' | ' | ' |
Defined Benefit Plan, Estimated Future Benefit Payments [Abstract] | ' | ' | ' | ' |
2014 | 8,089 | ' | ' | ' |
2015 | 8,441 | ' | ' | ' |
2016 | 8,767 | ' | ' | ' |
2017 | 9,212 | ' | ' | ' |
2018 | 9,646 | ' | ' | ' |
2019 - 2023 | 56,655 | ' | ' | ' |
Pension Plans, Defined Benefit [Member] | Qualified Pension Plans [Member] | ' | ' | ' | ' |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ' | ' | ' | ' |
Discount rate | 3.50% | 4.50% | 5.25% | ' |
Rate of compensation increase | 4.00% | 4.00% | 4.00% | ' |
Defined Benefit Plan Weighted Average Next Fiscal Year Assumptions Used In Calculating Net Periodic Benefit Cost [Abstract] | ' | ' | ' | ' |
Defined Benefit Plan Next Fiscal Year Assumptions For Calculating Net Periodic Benefit Cost Expected Long Term Return On Assets | 7.50% | ' | ' | ' |
Defined Benefit Plan Next Fiscal Year Assumptions For Calculating Net Periodic Benefit Cost Rate Of Compensation Increase | 4.00% | ' | ' | ' |
Pension Plans, Defined Benefit [Member] | Qualified Pension Plans [Member] | Net Periodic Benefit Expense (Income) [Member] | ' | ' | ' | ' |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ' | ' | ' | ' |
Measurement date | '11/30/2012 | '11/30/2011 | '11/30/2010 | ' |
Pension Plans, Defined Benefit [Member] | U.S. Combined Nonqualified Plans [Member] | ' | ' | ' | ' |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ' | ' | ' | ' |
Discount rate | 3.25% | 1.75% | 2.75% | ' |
Rate of compensation increase | 4.00% | 4.00% | 4.00% | ' |
Defined Benefit Plan Weighted Average Next Fiscal Year Assumptions Used In Calculating Net Periodic Benefit Cost [Abstract] | ' | ' | ' | ' |
Defined Benefit Plan, Next Fiscal Year Assumptions for Calculating Net Periodic Benefit Cost, Discount Rate | 1.75% | ' | ' | ' |
Defined Benefit Plan Next Fiscal Year Assumptions For Calculating Net Periodic Benefit Cost Rate Of Compensation Increase | 4.00% | ' | ' | ' |
Pension Plans, Defined Benefit [Member] | U.S. Combined Nonqualified Plans [Member] | Net Periodic Benefit Expense (Income) [Member] | ' | ' | ' | ' |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ' | ' | ' | ' |
Measurement date | '11/30/2013 | '11/30/2012 | '11/30/2011 | ' |
Other Postretirement Benefit Plans, Defined Benefit [Member] | ' | ' | ' | ' |
Components of net periodic benefit cost (income): | ' | ' | ' | ' |
Service cost | 0 | 0 | ' | ' |
Interest cost | 9 | 17 | 23 | ' |
Amortization of unrecognized: | ' | ' | ' | ' |
Prior service cost | -122 | -122 | -122 | ' |
Net actuarial loss (gain) | -149 | -121 | -130 | ' |
Net periodic benefit cost (income) | -262 | -226 | -229 | ' |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ' | ' | ' | ' |
Discount rate | 2.25% | 3.50% | 3.75% | ' |
Defined Benefit Plan Weighted Average Next Fiscal Year Assumptions Used In Calculating Net Periodic Benefit Cost [Abstract] | ' | ' | ' | ' |
Defined Benefit Plan, Next Fiscal Year Assumptions for Calculating Net Periodic Benefit Cost, Discount Rate | 3.00% | ' | ' | ' |
Net prior service cost (credit) | -595 | -718 | ' | 1,708 |
Pension and Other Postretirement Benefit Plans, Amounts that Will be Amortized from Accumulated Other Comprehensive Loss in Next Fiscal Year [Abstract] | ' | ' | ' | ' |
Prior service cost (credit) | -123 | ' | ' | ' |
Actuarial loss (gain) | -149 | ' | ' | ' |
Pension and Other Postretirement Benefit Plans, Amounts that Will be Amortized from Accumulated Other Comprehensive Loss in Next Fiscal Year | -272 | ' | ' | ' |
Defined Benefit Plan, Estimated Future Benefit Payments [Abstract] | ' | ' | ' | ' |
2014 | 62 | ' | ' | ' |
2015 | 57 | ' | ' | ' |
2016 | 46 | ' | ' | ' |
2017 | 38 | ' | ' | ' |
2018 | 34 | ' | ' | ' |
2019 - 2023 | 105 | ' | ' | ' |
Other Postretirement Benefit Plans, Defined Benefit [Member] | Net Periodic Benefit Expense (Income) [Member] | ' | ' | ' | ' |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ' | ' | ' | ' |
Measurement date | '11/30/2012 | '11/30/2011 | '11/30/2010 | ' |
Forecast [Member] | Pension Plans, Defined Benefit [Member] | Qualified Pension Plans [Member] | ' | ' | ' | ' |
Defined Benefit Plan Weighted Average Next Fiscal Year Assumptions Used In Calculating Net Periodic Benefit Cost [Abstract] | ' | ' | ' | ' |
Defined Benefit Plan, Next Fiscal Year Assumptions for Calculating Net Periodic Benefit Cost, Discount Rate | 4.50% | ' | ' | ' |
Defined Benefit Plan Effect on Next Fiscal Year Net Periodic Benefit Cost From Changes in Assumptions | -2,624 | ' | ' | ' |
Forecast [Member] | Pension Plans, Defined Benefit [Member] | U.S. Combined Nonqualified Plans [Member] | ' | ' | ' | ' |
Defined Benefit Plan Weighted Average Next Fiscal Year Assumptions Used In Calculating Net Periodic Benefit Cost [Abstract] | ' | ' | ' | ' |
Defined Benefit Plan Effect on Next Fiscal Year Net Periodic Benefit Cost From Changes in Assumptions | $187 | ' | ' | ' |
Income_Taxes_Details_1
Income Taxes (Details 1) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Nov. 30, 2013 | Dec. 01, 2012 | Dec. 03, 2011 |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | ' | ' | ' |
Unrecognized tax benefits at December 1, | $2,209 | $3,015 | $2,783 |
Additions for current period tax positions | 668 | 382 | 591 |
Reductions for current period tax positions | 0 | -37 | 0 |
Additions for prior period tax positions | 0 | 0 | 0 |
Reductions for prior period tax positions | -40 | -631 | -193 |
Reductions for lapse of statue of limitations/settlements | -431 | -460 | -203 |
Changes in interest and penalties | -251 | -60 | 37 |
Unrecognized tax benefits at November 30, | $2,155 | $2,209 | $3,015 |
Income_Taxes_Details_2
Income Taxes (Details 2) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Nov. 30, 2013 | Dec. 01, 2012 | Dec. 03, 2011 |
Current: | ' | ' | ' |
Federal | $34,414 | $37,673 | $34,374 |
State | 2,918 | 2,484 | 1,558 |
Foreign | 9,096 | 10,228 | 11,784 |
Deferred: | ' | ' | ' |
Federal | 8,676 | 8,763 | 9,196 |
State | -165 | 805 | 1,086 |
Foreign | 1,011 | -296 | -1,051 |
Income Tax Expense | $55,950 | $59,657 | $56,947 |
Income_Taxes_Details_3
Income Taxes (Details 3) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Nov. 30, 2013 | Dec. 01, 2012 | Dec. 03, 2011 |
Income Taxes [Abstract] | ' | ' | ' |
Domestic income | $141,224 | $145,433 | $139,840 |
Foreign income | 33,076 | 37,564 | 41,468 |
Earnings before income taxes | $174,300 | $182,997 | $181,308 |
Income_Taxes_Details_4
Income Taxes (Details 4) | 12 Months Ended | ||
Nov. 30, 2013 | Dec. 01, 2012 | Dec. 03, 2011 | |
Income Taxes [Abstract] | ' | ' | ' |
Statutory U.S. tax rates | 35.00% | 35.00% | 35.00% |
State income taxes, net of federal benefit | 1.00% | 1.40% | 1.30% |
Tax credits | -0.60% | -0.10% | -0.70% |
Foreign taxes at different rates, net of credits | -1.60% | -2.00% | -2.50% |
Domestic production activities deduction | -2.20% | -2.60% | -2.40% |
Other, net | 0.50% | 0.90% | 0.70% |
Effective Income Tax Rate, Continuing Operations | 32.10% | 32.60% | 31.40% |
Income_Taxes_Details_5
Income Taxes (Details 5) (USD $) | Nov. 30, 2013 | Dec. 01, 2012 |
In Thousands, unless otherwise specified | ||
Deferred tax assets: | ' | ' |
Deferred compensation | $7,945 | $9,925 |
Loss carryforward and tax credit items | 2,529 | 2,603 |
Accounts receivable | 5,973 | 5,911 |
Inventories | 5,000 | 5,062 |
Pensions | 4,781 | 26,222 |
Accrued liabilities and other | 1,219 | 1,403 |
Valuation allowance | -1,102 | -1,911 |
Total deferred tax assets, net | 26,345 | 49,215 |
Deferred tax liabilities: | ' | ' |
Percentage of completion | -539 | -366 |
Plant assets | -24,182 | -25,708 |
Goodwill and acquired intangible assets | -40,380 | -39,431 |
Other deferred tax liabilities | -345 | -402 |
Total deferred tax liabilities | -65,446 | -65,907 |
Deferred tax liability, net | ($39,101) | ($16,692) |
Income_Taxes_Details_6
Income Taxes (Details 6) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Nov. 30, 2013 | Dec. 01, 2012 | Dec. 03, 2011 |
Income Tax Disclosures [Line Items] | ' | ' | ' |
Unrecognized tax benefits that would impact the effective tax rate if recognized | $1,354 | $1,533 | ' |
Accrued for the payment of interest and penalties | 221 | 445 | ' |
Significant change in unrecognized tax benefits is reasonably possible, amount of unrecorded benefit | -163 | ' | ' |
Operating loss carryforwards, subject to expiration | 1,699 | ' | ' |
Operating loss carryforwards, not subject to expiration | 830 | ' | ' |
Valuation allowance, deferred tax asset, change in amount | -809 | -48 | ' |
Repatriated foreign earnings | 54 | 54 | 21 |
Undistributed foreign earnings | $172,450 | ' | ' |
Carryforward Expiration - Minimum [Member] | ' | ' | ' |
Income Tax Disclosures [Line Items] | ' | ' | ' |
Operating loss carryforwards, expiration dates | 30-Nov-14 | ' | ' |
Carryforward Expiration - Maximum [Member] | ' | ' | ' |
Income Tax Disclosures [Line Items] | ' | ' | ' |
Operating loss carryforwards, expiration dates | 30-Nov-29 | ' | ' |
Insurance_Claims_and_Settlemen1
Insurance Claims and Settlements (Details 1) (USD $) | 12 Months Ended | 1 Months Ended | 3 Months Ended | ||
In Thousands, unless otherwise specified | Nov. 30, 2013 | Dec. 01, 2012 | Dec. 03, 2011 | Nov. 30, 2011 | Aug. 27, 2011 |
Insurance Claim - August 2011 [Member] | Insurance Claim - August 2011 [Member] | ||||
Engine Mobile Filtration [Member] | Engine Mobile Filtration [Member] | ||||
Insurance Claim [Line Items] | ' | ' | ' | ' | ' |
Gain (loss) on disposition of property | ' | ' | ' | ' | ($250) |
Proceeds from insurance claims | $0 | $0 | $200 | $200 | ' |
Contingencies_Details_1
Contingencies (Details 1) (USD $) | 0 Months Ended | 12 Months Ended | 12 Months Ended | ||||
In Thousands, unless otherwise specified | Dec. 29, 2010 | Nov. 30, 2013 | Nov. 30, 2013 | Sep. 24, 2013 | Nov. 30, 2013 | Dec. 01, 2012 | Dec. 03, 2011 |
TransWeb [Member] | TransWeb [Member] | TransWeb [Member] | TransWeb [Member] | Pending Litigation [Member] | Pending Litigation [Member] | Pending Litigation [Member] | |
TransWeb [Member] | TransWeb [Member] | TransWeb [Member] | |||||
Loss Contingency [Abstract] | ' | ' | ' | ' | ' | ' | ' |
Litigation settlement | ' | ' | $34 | ' | ' | ' | ' |
Gain contingency not yet recognized | ' | ' | ' | 26,147 | ' | ' | ' |
Business acquisition, effective date of acquisition | 29-Dec-10 | ' | ' | ' | ' | ' | ' |
Purchase price excluding cash acquired | 30,017 | ' | ' | ' | ' | ' | ' |
Business acquisition, purchase price withheld | ' | 17,000 | ' | ' | ' | ' | ' |
Business acquisition, legal charges paid and applied against purchase price withheld | ' | $17,000 | ' | ' | $531 | $10,140 | $6,329 |
Incentive_Plans_and_StockBased2
Incentive Plans and Stock-Based Compensation (Details 1) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Nov. 30, 2013 | Dec. 01, 2012 | Dec. 03, 2011 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Excess tax benefits associated with tax deductions over the amount of compensation expense recognized in the consolidated financial statements | ' | ($2,007) | ($5,100) |
Stock Options [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Pre-tax compensation expense | 3,212 | 4,997 | 4,397 |
Deferred tax benefits | -1,153 | -1,836 | -1,616 |
Excess tax benefits associated with tax deductions over the amount of compensation expense recognized in the consolidated financial statements | -7,231 | -2,007 | -5,100 |
Fair value of options granted | 3,868 | 6,407 | 5,803 |
Total intrinsic value of options exercised | 29,384 | 8,793 | 16,732 |
Cash received upon exercise of options | 33,778 | 5,170 | 7,233 |
Addition to capital in excess of par value due to exercise of stock options | 38,903 | 5,440 | 8,045 |
Restricted Stock Units (RSUs) [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Pre-tax compensation expense | 888 | 1,229 | 1,079 |
Deferred tax benefits | -319 | -451 | -396 |
Excess tax benefits associated with tax deductions over the amount of compensation expense recognized in the consolidated financial statements | 1,280 | -88 | 3 |
Fair value of restricted stock unit awards on date of grant | 1,068 | 1,489 | 1,263 |
Fair value of restricted stock unit awards vested | $621 | $2,359 | $905 |
Incentive_Plans_and_StockBased3
Incentive Plans and Stock-Based Compensation (Details 2) (USD $) | 12 Months Ended | ||
Nov. 30, 2013 | Dec. 01, 2012 | Dec. 03, 2011 | |
Stock Option Activity in Shares [Abstract] | ' | ' | ' |
Outstanding at end of year | 2,208,314 | ' | ' |
Exercisable at end of year | 1,413,100 | ' | ' |
Weighted Average Exercise Prices - Stock Options [Roll Forward] | ' | ' | ' |
Weighted Average Exercise Price - Outstanding End of Period | $40.76 | ' | ' |
Weighted Average Exercise Price - Exercisable | $38.19 | ' | ' |
Stock Options [Member] | ' | ' | ' |
Stock Option Activity in Shares [Abstract] | ' | ' | ' |
Outstanding at beginning of year | 3,037,151 | 2,907,533 | 3,229,410 |
Granted | 387,500 | 512,850 | 494,750 |
Exercised | -1,191,752 | -353,793 | -774,661 |
Surrendered | -24,585 | -29,439 | -41,966 |
Outstanding at end of year | 2,208,314 | 3,037,151 | 2,907,533 |
Exercisable at end of year | 1,413,100 | 2,035,267 | 1,971,197 |
Weighted Average Exercise Prices - Stock Options [Roll Forward] | ' | ' | ' |
Weighted Average Exercise Price - Outstanding Beginning of Year | $36.09 | $32.39 | $29.07 |
Weighted Average Exercise Price - Granted | $45.25 | $49.84 | $43 |
Weighted Average Exercise Price - Exercised | $30.30 | $25.28 | $25.12 |
Weighted Average Exercise Price - Surrendered | $42.48 | $40.17 | $36.06 |
Weighted Average Exercise Price - Outstanding End of Period | $40.76 | $36.09 | $32.39 |
Weighted Average Exercise Price - Exercisable | $38.19 | $32.54 | $30 |
Incentive_Plans_and_StockBased4
Incentive Plans and Stock-Based Compensation (Details 3) (USD $) | 12 Months Ended |
In Thousands, except Share data, unless otherwise specified | Nov. 30, 2013 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Options Outstanding - Number (in shares) | 2,208,314 |
Options Outstanding - Weighted Average Exercise Price (in dollars per share) | $40.76 |
Options Outstanding - Intrinsic Value | $43,667 |
Options Outstanding - Weighted Average Remaining Life (in years) | '6 years 6 months 27 days |
Options Exercisable - Number (in shares) | 1,413,100 |
Options Exercisable - Weighted Average Exercise Price (in dollars per share) | $38.19 |
Options Exercisable - Intrinsic Value | 31,571 |
Options Exercisable - Weighted Average Remaining Life (in years) | '5 years 6 months 16 days |
$22.80 - $28.79 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Options Outstanding - Number (in shares) | 157,850 |
Options Outstanding - Weighted Average Exercise Price (in dollars per share) | $26.84 |
Options Outstanding - Intrinsic Value | 5,318 |
Options Outstanding - Weighted Average Remaining Life (in years) | '2 years 5 months 24 days |
Options Exercisable - Number (in shares) | 157,850 |
Options Exercisable - Weighted Average Exercise Price (in dollars per share) | $26.84 |
Options Exercisable - Intrinsic Value | 5,318 |
Options Exercisable - Weighted Average Remaining Life (in years) | '2 years 5 months 24 days |
$31.96 - $38.06 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Options Outstanding - Number (in shares) | 726,403 |
Options Outstanding - Weighted Average Exercise Price (in dollars per share) | $33.83 |
Options Outstanding - Intrinsic Value | 19,395 |
Options Outstanding - Weighted Average Remaining Life (in years) | '4 years 6 months 5 days |
Options Exercisable - Number (in shares) | 672,844 |
Options Exercisable - Weighted Average Exercise Price (in dollars per share) | $33.95 |
Options Exercisable - Intrinsic Value | 17,885 |
Options Exercisable - Weighted Average Remaining Life (in years) | '4 years 4 months 22 days |
$40.73 - $55.01 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Options Outstanding - Number (in shares) | 1,324,061 |
Options Outstanding - Weighted Average Exercise Price (in dollars per share) | $46.22 |
Options Outstanding - Intrinsic Value | 18,954 |
Options Outstanding - Weighted Average Remaining Life (in years) | '8 years 2 months 9 days |
Options Exercisable - Number (in shares) | 582,406 |
Options Exercisable - Weighted Average Exercise Price (in dollars per share) | $46.16 |
Options Exercisable - Intrinsic Value | $8,368 |
Options Exercisable - Weighted Average Remaining Life (in years) | '7 years 8 months 13 days |
Incentive_Plans_and_StockBased5
Incentive Plans and Stock-Based Compensation (Details 4) (Stock Options [Member], USD $) | 12 Months Ended | ||
Nov. 30, 2013 | Dec. 01, 2012 | Dec. 03, 2011 | |
Stock Options [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Weighted average fair value per option at the date of grant for option granted (in dollars per share) | $9.98 | $12.49 | $11.73 |
Risk-free interest rate | 1.19% | 1.38% | 2.52% |
Expected dividend yield | 1.19% | 0.96% | 0.98% |
Expected volatility factor | 25.80% | 26.52% | 25.54% |
Expected option term (in years) | '5 years 4 months 23 days | '6 years 1 month 6 days | '6 years 4 months 24 days |
Incentive_Plans_and_StockBased6
Incentive Plans and Stock-Based Compensation (Details 5) (Restricted Stock Units (RSUs) [Member], USD $) | 12 Months Ended | ||
Nov. 30, 2013 | Dec. 01, 2012 | Dec. 03, 2011 | |
Restricted Stock Units (RSUs) [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward] | ' | ' | ' |
Nonvested at beginning of year (in shares) | 39,945 | 71,545 | 70,894 |
Granted (in shares) | 23,624 | 29,839 | 29,467 |
Vested (in shares) | -15,525 | -60,320 | -26,937 |
Surrendered (in shares) | 0 | -1,119 | -1,879 |
Nonvested at end of period (in shares) | 48,044 | 39,945 | 71,545 |
Weighted Average Grant Date Fair Value - Restricted Stock Unit Awards [Roll Forward] | ' | ' | ' |
Weighted Average Grant Date Fair Value - Beginning of Year (in dollars per share) | $43.16 | $36.95 | $33.23 |
Weighted average grant date fair value - granted (in dollars per share) | $45.19 | $49.91 | $42.86 |
Weighted Average Grant Date Fair Value - Vested (in dollars per share) | $40.01 | $39.11 | $33.61 |
Weighted Average Grant Date Fair Value - Surrendered (in dollars per share) | $0 | $44.15 | $37.18 |
Weighted Average Grant Date Fair Value - End of Year (in dollars per share) | $45.18 | $43.16 | $36.95 |
Incentive_Plans_and_StockBased7
Incentive Plans and Stock-Based Compensation (Details 6) (USD $) | 12 Months Ended | 0 Months Ended | 12 Months Ended | 2 Months Ended | 12 Months Ended | 2 Months Ended | 12 Months Ended | |||||||||||
In Thousands, except Share data, unless otherwise specified | Nov. 30, 2013 | Dec. 01, 2012 | Dec. 03, 2011 | Mar. 23, 2009 | Nov. 30, 2013 | Dec. 01, 2012 | Dec. 03, 2011 | Jan. 24, 2014 | Nov. 30, 2013 | Dec. 01, 2012 | Dec. 03, 2011 | Jan. 24, 2014 | Nov. 30, 2013 | Dec. 01, 2012 | Dec. 03, 2011 | Nov. 30, 2013 | Dec. 01, 2012 | Dec. 03, 2011 |
Stock Options [Member] | Stock Options [Member] | Stock Options [Member] | Stock Options [Member] | Stock Options [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Directors' Restricted Stock [Member] | Directors' Restricted Stock [Member] | Directors' Restricted Stock [Member] | Employee Stock [Member] | Employee Stock [Member] | Employee Stock [Member] | ||||
Subsequent Event [Member] | Subsequent Event [Member] | |||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares granted in performance awards to officers, directors and key employees | ' | ' | ' | 3,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of years which shares can be granted under the Plan | ' | ' | ' | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Incentive plan end date | ' | ' | ' | 1-Dec-19 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Annual employee vesting percentage | ' | ' | ' | ' | 25.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Award vesting period (in years) | ' | ' | ' | ' | '4 years | ' | ' | ' | '4 years | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expiration period and term of equity award (in years) | ' | ' | ' | ' | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Granted (in options) | ' | ' | ' | ' | 387,500 | 512,850 | 494,750 | 441,450 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average exercise price - granted (in dollars per share) | ' | ' | ' | ' | $45.25 | $49.84 | $43 | $61.57 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrecognized compensation cost related to share-based awards which the Company expects to recognize | ' | ' | ' | ' | $5,386 | ' | ' | ' | $1,176 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted-average period, over which the Company expects to recognize compensation cost related to share-based arrangements (in years) | '4 years | ' | ' | ' | '2 years 4 months 30 days | ' | ' | ' | '2 years 6 months | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restricted stock unit awards - shares vested and deferred | ' | ' | ' | ' | ' | ' | ' | ' | 14,760 | 131,197 | ' | ' | ' | ' | ' | ' | ' | ' |
Granted (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 23,624 | 29,839 | 29,467 | 23,808 | ' | ' | ' | ' | ' | ' |
Weighted average grant date fair value - granted (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | $45.19 | $49.91 | $42.86 | $61.57 | ' | ' | ' | ' | ' | ' |
Employee stock purchase plan, discount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.00% | ' | ' |
Pre-tax compensation expense | ' | ' | ' | ' | 3,212 | 4,997 | 4,397 | ' | 888 | 1,229 | 1,079 | ' | 960 | 200 | 200 | ' | ' | ' |
Shares of Company common stock issued under the plans (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 18,256 | 4,055 | 4,540 | ' | ' | ' |
Company stock issued under the plan | $2,963 | $1,868 | $2,001 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,269 | $1,244 | $1,216 |
Earnings_Per_Share_and_Treasur
Earnings Per Share and Treasury Stock Transactions (Details 1) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Share data, unless otherwise specified | Nov. 30, 2013 | Aug. 31, 2013 | Jun. 01, 2013 | Mar. 02, 2013 | Dec. 01, 2012 | Sep. 01, 2012 | Jun. 02, 2012 | Mar. 03, 2012 | Nov. 30, 2013 | Dec. 01, 2012 | Dec. 03, 2011 |
Earnings Per Share and Stock Repurchase Activity [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average number of shares outstanding - Basic (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 49,988,577 | 50,285,480 | 50,501,842 |
Dilutive effect of stock-based arrangements (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 550,370 | 596,711 | 689,593 |
Weighted average number of shares outstanding - Diluted (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 50,538,947 | 50,882,191 | 51,191,435 |
Net earnings attributable to CLARCOR Inc. | $32,856 | $28,707 | $33,051 | $23,462 | $36,310 | $30,270 | $32,927 | $23,479 | $118,076 | $122,986 | $124,003 |
Net earnings per common share attributable to CLARCOR Inc. - Basic (in dollars per share) | $0.65 | $0.57 | $0.66 | $0.47 | $0.73 | $0.60 | $0.65 | $0.47 | $2.36 | $2.45 | $2.46 |
Net earnings per common share attributable to CLARCOR Inc. - Diluted (in dollars per share) | $0.65 | $0.57 | $0.66 | $0.47 | $0.72 | $0.60 | $0.65 | $0.46 | $2.34 | $2.42 | $2.42 |
Earnings_Per_Share_and_Stock_R2
Earnings Per Share and Stock Repurchase Activity (Details 2) (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Nov. 30, 2013 | Dec. 01, 2012 | Dec. 03, 2011 |
Earnings Per Share and Stock Repurchase Activity [Abstract] | ' | ' | ' |
Number of antidilutive options with exercise prices greater than the average market price excluded from the computation of dilutive earnings per share | 125,135 | 508,167 | 60,000 |
Common stock repurchased and retired pursuant to the Company's stock repurchase program | $27,708 | $37,320 | $29,317 |
Number of shares repurchased and retired pursuant to the Company's stock repurchase program | 534,100 | 792,881 | 683,776 |
Earnings_Per_Share_and_Stock_R3
Earnings Per Share and Stock Repurchase Activity (Details 3) (USD $) | 0 Months Ended | 12 Months Ended |
Jun. 25, 2013 | Nov. 30, 2013 | |
Earnings Per Share and Stock Repurchase Activity [Abstract] | ' | ' |
Stock repurchase program, period in force | '3 years | ' |
Stock repurchase program, authorized amount | $250,000,000 | ' |
Stock repurchase program, remaining authorized repurchase amount | ' | $241,282,000 |
Segment_Information_Details_1
Segment Information (Details 1) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Nov. 30, 2013 | Aug. 31, 2013 | Jun. 01, 2013 | Mar. 02, 2013 | Dec. 01, 2012 | Sep. 01, 2012 | Jun. 02, 2012 | Mar. 03, 2012 | Nov. 30, 2013 | Dec. 01, 2012 | Dec. 03, 2011 |
segments | |||||||||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of segments | ' | ' | ' | ' | ' | ' | ' | ' | 3 | ' | ' |
Net sales | $297,790 | $289,126 | $287,583 | $256,271 | $292,913 | $286,733 | $284,855 | $257,264 | $1,130,770 | $1,121,765 | $1,126,601 |
Operating profit | ' | ' | ' | ' | ' | ' | ' | ' | 174,616 | 182,714 | 181,267 |
Other income (expense), net | ' | ' | ' | ' | ' | ' | ' | ' | -316 | 283 | 41 |
Earnings before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 174,300 | 182,997 | 181,308 |
Assets | 1,448,843 | ' | ' | ' | 1,205,502 | ' | ' | ' | 1,448,843 | 1,205,502 | 1,134,933 |
Additions to property, plant, and equipment | ' | ' | ' | ' | ' | ' | ' | ' | 44,651 | 36,647 | 24,171 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 32,233 | 31,815 | 32,435 |
Engine Mobile Filtration [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 507,024 | 503,607 | 510,012 |
Operating profit | ' | ' | ' | ' | ' | ' | ' | ' | 106,345 | 111,653 | 112,839 |
Assets | 397,545 | ' | ' | ' | 372,011 | ' | ' | ' | 397,545 | 372,011 | 338,197 |
Additions to property, plant, and equipment | ' | ' | ' | ' | ' | ' | ' | ' | 19,809 | 24,062 | 11,406 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 10,488 | 9,327 | 9,325 |
Industrial Environmental Filtration [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 549,746 | 541,364 | 523,026 |
Operating profit | ' | ' | ' | ' | ' | ' | ' | ' | 61,996 | 64,766 | 58,028 |
Assets | 715,759 | ' | ' | ' | 706,610 | ' | ' | ' | 715,759 | 706,610 | 693,266 |
Additions to property, plant, and equipment | ' | ' | ' | ' | ' | ' | ' | ' | 21,467 | 9,264 | 8,775 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 18,093 | 18,692 | 19,231 |
Packaging [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 74,000 | 76,794 | 93,563 |
Operating profit | ' | ' | ' | ' | ' | ' | ' | ' | 6,275 | 6,295 | 10,400 |
Assets | 41,030 | ' | ' | ' | 36,350 | ' | ' | ' | 41,030 | 36,350 | 39,571 |
Additions to property, plant, and equipment | ' | ' | ' | ' | ' | ' | ' | ' | 2,467 | 3,250 | 3,824 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 2,859 | 3,090 | 3,166 |
Corporate [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Assets | 294,509 | ' | ' | ' | 90,531 | ' | ' | ' | 294,509 | 90,531 | 63,899 |
Additions to property, plant, and equipment | ' | ' | ' | ' | ' | ' | ' | ' | 908 | 71 | 166 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | $793 | $706 | $713 |
Segment_Information_Details_2
Segment Information (Details 2) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Nov. 30, 2013 | Aug. 31, 2013 | Jun. 01, 2013 | Mar. 02, 2013 | Dec. 01, 2012 | Sep. 01, 2012 | Jun. 02, 2012 | Mar. 03, 2012 | Nov. 30, 2013 | Dec. 01, 2012 | Dec. 03, 2011 |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | $297,790 | $289,126 | $287,583 | $256,271 | $292,913 | $286,733 | $284,855 | $257,264 | $1,130,770 | $1,121,765 | $1,126,601 |
Property, plant and equipment, at cost, less accumulated depreciation | 208,953 | ' | ' | ' | 195,101 | ' | ' | ' | 208,953 | 195,101 | 184,992 |
United States [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 778,952 | 779,811 | 775,987 |
Property, plant and equipment, at cost, less accumulated depreciation | 183,166 | ' | ' | ' | 173,018 | ' | ' | ' | 183,166 | 173,018 | 164,712 |
Europe [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 96,255 | 102,144 | 106,712 |
Property, plant and equipment, at cost, less accumulated depreciation | 12,499 | ' | ' | ' | 3,619 | ' | ' | ' | 12,499 | 3,619 | 2,924 |
Asia [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 103,030 | 98,880 | 95,363 |
Property, plant and equipment, at cost, less accumulated depreciation | 2,702 | ' | ' | ' | 8,013 | ' | ' | ' | 2,702 | 8,013 | 7,561 |
Other International [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 152,533 | 140,930 | 148,539 |
Property, plant and equipment, at cost, less accumulated depreciation | $10,586 | ' | ' | ' | $10,451 | ' | ' | ' | $10,586 | $10,451 | $9,795 |
Selected_Quarterly_Financial_D2
Selected Quarterly Financial Data (Details 1) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Nov. 30, 2013 | Aug. 31, 2013 | Jun. 01, 2013 | Mar. 02, 2013 | Dec. 01, 2012 | Sep. 01, 2012 | Jun. 02, 2012 | Mar. 03, 2012 | Nov. 30, 2013 | Dec. 01, 2012 | Dec. 03, 2011 |
Quarterly Financial Information Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | $297,790 | $289,126 | $287,583 | $256,271 | $292,913 | $286,733 | $284,855 | $257,264 | $1,130,770 | $1,121,765 | $1,126,601 |
Gross profit | 98,609 | 91,900 | 98,214 | 81,486 | 101,044 | 94,888 | 98,185 | 86,215 | 370,209 | 380,332 | 383,421 |
Net earnings | 32,896 | 28,773 | 33,153 | 23,528 | 36,358 | 30,411 | 33,079 | 23,492 | 118,350 | 123,340 | 124,361 |
Net earnings attributable to CLARCOR Inc. | $32,856 | $28,707 | $33,051 | $23,462 | $36,310 | $30,270 | $32,927 | $23,479 | $118,076 | $122,986 | $124,003 |
Net earnings per common share attributable to CLARCOR Inc. - Basic (in dollars per share) | $0.65 | $0.57 | $0.66 | $0.47 | $0.73 | $0.60 | $0.65 | $0.47 | $2.36 | $2.45 | $2.46 |
Net earnings per common share attributable to CLARCOR Inc. - Diluted (in dollars per share) | $0.65 | $0.57 | $0.66 | $0.47 | $0.72 | $0.60 | $0.65 | $0.46 | $2.34 | $2.42 | $2.42 |
Cash dividends paid per common share | $0.17 | $0.14 | $0.14 | $0.14 | $0.14 | $0.12 | $0.12 | $0.12 | $0.57 | $0.50 | $0.44 |
Subsequent_Events_Details
Subsequent Events (Details) (Subsequent Event [Member], USD $) | 0 Months Ended | 0 Months Ended | |
In Thousands, unless otherwise specified | Dec. 03, 2013 | Dec. 03, 2013 | Dec. 16, 2013 |
Bekaert Business [Member] | PT Bekaert Advanced Filtration [Member] | General Electric Company Power and Water Division [Member] | |
Subsequent Event [Line Items] | ' | ' | ' |
Business acquisition, effective date of acquisition | 3-Dec-13 | ' | ' |
Business acquisition, percentage of voting interests acquired | 100.00% | 100.00% | ' |
Payments to acquire businesses | $7,402 | ' | $258,692 |
Schedule_of_Valuation_and_Qual
Schedule of Valuation and Qualifying Accounts Disclosure (Details 1) (USD $) | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Nov. 30, 2013 | Dec. 01, 2012 | Dec. 03, 2011 | |||
Movement in Valuation Allowances and Reserves [Roll Forward] | ' | ' | ' | |||
Balance at beginning of period | $9,554 | $9,795 | $11,428 | |||
Charged to costs and expenses | 1,863 | 1,029 | -312 | |||
Charged to other accounts | -1,110 | [1] | -96 | [1] | 1,217 | [1] |
Deductions | -1,124 | [2] | -1,174 | [2] | -2,538 | [2] |
Balance at end of period | $9,183 | $9,554 | $9,795 | |||
[1] | Due to business acquisitions, reclassifications and currency translation. | |||||
[2] | Bad debts written off during year, net of recoveries. |