H.B. Fuller (FUL) 10-Q 5 Apr 16 2016 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Feb. 27, 2016	Mar. 24, 2016
Entity Registrant Name	FULLER H B CO
Entity Central Index Key	39,368
Trading Symbol	ful
Current Fiscal Year End Date	--12-03
Entity Filer Category	Large Accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	Yes
Entity Common Stock, Shares Outstanding (in shares)		49,997,265
Document Type	10-Q
Document Period End Date	Feb. 27, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Amendment Flag	false

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Feb. 27, 2016	Feb. 28, 2015
Net revenue	$ 474,326	$ 470,661
Cost of sales	(336,721)	(354,455)
Gross profit	137,605	116,206
Selling, general and administrative expenses	(99,767)	(94,833)
Special charges, net	(413)	(2,361)
Other (expense) income, net	(5,082)	363
Interest expense	(6,308)	(6,102)
Income before income taxes and income from equity method investments	26,035	13,273
Income taxes	(8,760)	(4,769)
Income from equity method investments	1,692	1,291
Net income including non-controlling interests	18,967	9,795
Net income attributable to non-controlling interests	(49)	(85)
Net income attributable to H.B. Fuller	$ 18,918	$ 9,710
Basic (in dollars per share)	$ 0.38	$ 0.19
Diluted (in dollars per share)	$ 0.37	$ 0.19
Weighted-average common shares outstanding:
Basic (in shares)	49,958	50,188
Diluted (in shares)	50,995	51,379
Dividends declared per common share (in dollars per share)	$ 0.13	$ 0.12

Condensed Consolidated Stateme3

Condensed Consolidated Statements of Comprehesive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Feb. 27, 2016	Feb. 28, 2015
Net income including non-controlling interests	$ 18,967	$ 9,795
Other comprehensive income (loss)
Foreign currency translation	(950)	(33,269)
Defined benefit pension plans adjustment, net of tax	2,665	1,527
Interest rate swaps, net of tax	10	10
Cash-flow hedges, net of tax	249	(25)
Other comprehensive income (loss)	1,974	(31,757)
Comprehensive income (loss)	20,941	(21,962)
Less: Comprehensive income attributable to non-controlling interests	44	95
Comprehensive income (loss) attributable to H.B. Fuller	$ 20,897	$ (22,057)

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Feb. 27, 2016	Nov. 28, 2015
Current assets:
Cash and cash equivalents	$ 126,771	$ 119,168
Trade receivables (net of allowances of $12,015 and $11,893, as of February 27, 2016 and November 28, 2015, respectively)	335,403	364,704
Inventories	264,837	248,504
Other current assets	64,049	68,675
Total current assets	791,060	801,051
Property, plant and equipment	1,127,802	1,111,987
Accumulated depreciation	(615,899)	(599,127)
Property, plant and equipment, net	511,903	512,860
Goodwill	354,901	354,204
Other intangibles, net	206,403	212,993
Other assets	159,069	161,144
Total assets	2,023,336	2,042,252
Current liabilities:
Notes payable	36,921	30,757
Current maturities of long-term debt	75,484	22,500
Trade payables	162,513	177,864
Accrued compensation	39,046	52,079
Income taxes payable	12,988	8,970
Other accrued expenses	52,134	57,355
Total current liabilities	379,086	349,525
Long-term debt, excluding current maturities	610,969	669,606
Accrued pension liabilities	74,596	76,324
Other liabilities	68,896	69,272
Total liabilities	1,133,547	1,164,727
Redeemable non-controlling interest	$ 4,376	$ 4,199
H.B. Fuller stockholders' equity:
Preferred stock (no shares outstanding) shares authorized – 10,045,900
Common stock, par value $1.00 per share, shares authorized – 160,000,000, shares outstanding – 49,989,167 and 50,074,310, as of February 27, 2016 and November 28, 2015, respectively	$ 49,989	$ 50,074
Additional paid-in capital	53,356	55,522
Retained earnings	1,006,964	994,608
Accumulated other comprehensive loss	(225,305)	(227,284)
Total H.B. Fuller stockholders' equity	885,004	872,920
Non-controlling interests	409	406
Total equity	885,413	873,326
Total liabilities, redeemable non-controlling interest and total equity	$ 2,023,336	$ 2,042,252

Condensed Consolidated Balance5

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands	Feb. 27, 2016	Nov. 28, 2015
Allowance for Doubtful Accounts	$ 12,015	$ 11,893
Preferred stock, shares authorized (in shares)	10,045,900	10,045,900
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, shares authorized (in shares)	160,000,000	160,000,000
Common stock, shares outstanding (in shares)	49,989,167	50,074,310

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Total Equity (Unaudited) - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Noncontrolling Interest [Member]	Total
Balance at Nov. 29, 2014	$ 50,311	$ 53,269	$ 933,819	$ (147,352)	$ 403	$ 890,450
Comprehensive income (loss)			86,680	(79,932)	400	7,148
Dividends			(25,891)			(25,891)
Stock option exercises	234	4,397				4,631
Share-based compensation plans other, net	83	15,159				15,242
Tax benefit on share-based compensation plans		1,433				1,433
Repurchases of common stock	(554)	(18,736)				(19,290)
Non-controlling interest assumed					14,197	14,197
Recognition of non-controlling interest redemption liability					(11,773)	(11,773)
Purchase of non-controlling interest					(2,424)	(2,424)
Non-controlling interest					(76)	(76)
Redeemable non-controlling interest					(321)	(321)
Balance at Nov. 28, 2015	50,074	55,522	994,608	(227,284)	406	873,326
Comprehensive income (loss)			18,918	1,979	44	20,941
Dividends			(6,562)			(6,562)
Stock option exercises	1	31				32
Share-based compensation plans other, net	105	4,471				4,576
Tax benefit on share-based compensation plans		(341)				(341)
Repurchases of common stock	(191)	(6,327)				(6,518)
Redeemable non-controlling interest					(41)	(41)
Balance at Feb. 27, 2016	$ 49,989	$ 53,356	$ 1,006,964	$ (225,305)	$ 409	$ 885,413

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Feb. 27, 2016	Feb. 28, 2015
Cash flows from operating activities:
Net income including non-controlling interests	$ 18,967	$ 9,795
Adjustments to reconcile net income including non-controlling interests to net cash provided by operating activities:
Depreciation	13,258	11,676
Amortization	6,698	6,148
Deferred income taxes	63	(212)
Income from equity method investments, net of dividends received	(1,692)	(1,291)
Share-based compensation	4,267	4,261
Excess tax benefit from share-based compensation	$ 341	(397)
Non-cash charge for the sale of inventories revalued at the date of acquisition		2,701
Trade receivables, net	$ 28,947	25,114
Inventories	(15,861)	(22,399)
Other assets	9,298	(14,395)
Trade payables	(4,301)	32,885
Accrued compensation	(13,235)	(10,986)
Other accrued expenses	(5,258)	7,482
Income taxes payable	5,673	(3,126)
Accrued / prepaid pensions	662	(4,542)
Other liabilities	(1,445)	603
Other	(3,821)	22,896
Net cash provided by operating activities	42,561	66,213
Cash flows from investing activities:
Purchased property, plant and equipment	$ (23,361)	(28,381)
Purchased businesses, net of cash acquired		(217,638)
Proceeds from sale of property, plant and equipment	$ 863	1,303
Net cash used in investing activities	$ (22,498)	(244,716)
Cash flows from financing activities:
Proceeds from long-term debt		317,000
Repayment of long-term debt	$ (5,625)	(130,000)
Net proceeds from (payments on) notes payable	6,378	(4,748)
Dividends paid	(6,498)	(6,044)
Proceeds from stock options exercised	32	1,684
Excess tax benefit from share-based compensation	(341)	397
Repurchases of common stock	(6,518)	(2,203)
Net cash provided by (used in) financing activities	(12,572)	176,086
Effect of exchange rate changes	112	(3,578)
Net change in cash and cash equivalents	7,603	(5,995)
Cash and cash equivalents at beginning of period	119,168	77,569
Cash and cash equivalents at end of period	126,771	71,574
Supplemental disclosure of cash flow information:
Dividends paid with company stock	64	47
Cash paid for interest, net of amount capitalized of $117 and $10 for the periods ended February 27, 2016 and February 28, 2015, respectively	5,566	5,561
Cash paid for income taxes, net of refunds	$ 4,066	$ 3,616

Condensed Consolidated Stateme8

Condensed Consolidated Statements of Cash Flows (Unaudited) (Parentheticals) - USD ($) $ in Thousands	3 Months Ended
	Feb. 27, 2016	Feb. 28, 2015
Capitalized interest costs	$ 117	$ 10

Note 1 - Nature of Business and

Note 1 - Nature of Business and Summary of Significant Accounting Policies	3 Months Ended
	Feb. 27, 2016
Notes to Financial Statements
Nature of Operations [Text Block]	Note 1 : Basis of Presentation The accompanying unaudited interim Condensed Consolidated Financial Statements of H.B. Fuller Company and Subsidiaries have been prepared in accordance with U.S. generally accepted accounting principles for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information necessary for a fair presentation of results of operations, comprehensive income, financial position, and cash flows in conformity with U.S. generally accepted accounting principles. In our opinion, the unaudited interim Condensed Consolidated Financial Statements reflect all adjustments of a normal recurring nature considered necessary for the fair presentation of the results for the periods presented. Operating results for interim periods are not necessarily indicative of results that may be expected for the fiscal year as a whole. The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires us to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, expenses, and related disclosures at the date of the financial statements and during the reporting period. Actual results could differ from these estimates. These unaudited interim Condensed Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and Notes thereto included in our Annual Report on Form 10-K for the year ended November 28, 2015 as filed with the Securities and Exchange Commission. As of the beginning of the first quarter ending February 27, 2016, we created a new global operating segment named Engineering Adhesives, which includes the electronics, automotive and Tonsan businesses from around the world. We will also begin reporting our Construction Products business on a global basis by combining our EIMEA and Asia Pacific construction businesses with our Construction Products operating segment. We now have five reportable segments: Americas Adhesives, EIMEA, Asia Pacific, Construction Products and Engineering Adhesives. New Accounting Pronouncements In March 2016, the FASB issued ASU No. 2016-08, Revenue from Contracts with Customers (Topic 606), Principal v ersus Agent Considerations (Reporting Revenue Gross versus Net) In February 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-05, Derivatives and Hedging (Topic 815). . We have evaluated the effect that this guidance will have on our Consolidated Financial Statements and related disclosures and determined it will not have a material impact. In February 2016, the FASB issued ASU No. 2016-02, Leases (Subtopic 842). . The new guidance must be adopted using a modified retrospective transition approach, and provides for certain practical expedients. We are currently evaluating the impact that the new guidance will have on our consolidated financial statements. In June 2014, the FASB issued ASU No. 2014-12, Compensation - Stock Compensation (Topic 718), Accounting for Share-Based Payments When the Terms of an Award That a Performance Target Could Be Achieved after the Requisite Service Period, e elected to early adopt this guidance as of our first quarter ended February 27, 2016. The adoption of this guidance did not have a material impact on our Consolidated Financial Statements. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606),

Note 2 - Acquisitions

Note 2 - Acquisitions	3 Months Ended
	Feb. 27, 2016
Notes to Financial Statements
Business Combination Disclosure [Text Block]	Note 2 : Acquisitions Continental Products Limited On February 3, 2015 we acquired the equity of Continental Products Limited, a provider of industrial adhesives, based in Nairobi, Kenya. The purchase price of €1,459, or approximately $1,647, net of cash acquired of $371, was funded through existing cash. Tonsan Adhesive, Inc . On February 2, 2015 we acquired 95 percent of the equity of Tonsan Adhesive, Inc., an independent engineering adhesives provider based in Beijing, China. The purchase price was 1.4 billion Chinese renminbi, or approximately $215,925, net of cash acquired of $7,754, which was financed with the proceeds from our October 31, 2014 term loan, drawn in conjunction with the acquisition. Concurrent with the acquisition, we entered into an agreement to acquire the remaining 5 percent of Tonsan’s equity beginning February 1, 2019 for 82 million Chinese renminbi or approximately $13,038. In addition, the agreement requires us to pay up to 418 million Chinese renminbi or approximately $66,848 in contingent consideration based upon a formula related to Tonsan’s gross profit in fiscal 2018. The fair values of the agreement to purchase the remaining equity and the contingent consideration based upon a discounted cash flow model as of the date of acquisition were $11,773 and $7,714, respectively. See Note 14 for further discussion of the fair value of the contingent consideration. The following table summarizes the final fair value measurement of the assets acquired and liabilities assumed as of the date of acquisition: Preliminary Valuation November 28, 2015 Purchase Price and Fair Value Adjustments Final Valuation February 27, 2016 Current assets $ 49,839 $ - $ 49,839 Property, plant and equipment 59,142 - 59,142 Goodwill 125,090 700 1 125,790 Other intangibles Developed technology 18,600 - 18,600 Customer relationships 25,700 - 25,700 Trademarks/trade names 11,000 - 11,000 Other assets 13,540 - 13,540 Current liabilities (38,068 ) - (38,068 ) Other liabilities (37,145 ) (700 ) 1 (37,845 ) Redeemable non-controlling interests (11,773 ) - (11,773 ) Total purchase price $ 215,925 $ - $ 215,925 1

Note 3 - Accounting for Share-B

Note 3 - Accounting for Share-Based Compensation	3 Months Ended
	Feb. 27, 2016
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	Note 3: Accounting for Share-Based Compensation Overview We have various share-based compensation programs, which provide for equity awards including stock options, incentive stock options, restricted stock shares, restricted stock units, performance awards and deferred compensation. These equity awards fall under several plans and are described in detail in our Annual Report on Form 10-K for the year ended November 28, 2015. Grant-Date Fair Value We use the Black-Scholes option pricing model to calculate the grant-date fair value of an award. The fair value of options granted during the quarter ended February 27, 2016 and February 28, 2015 were calculated using the following weighted average assumptions: Quarter Ended February 27, 2016 February 28, 2015 Expected life (in years) 4.75 4.61 Weighted-average expected volatility 29.03% 30.91% Expected volatility 29.03% - 29.23 25.50% - 31.67% Risk-free interest rate 1.44% 1.26% Expected dividend yield 1.56% 1.17% Weighted-average fair value of grants $ 7.64 $ 10.21 Expected life – We use historical employee exercise and option expiration data to estimate the expected life assumption for the Black-Scholes grant-date valuation. We believe that this historical data is currently the best estimate of the expected term of a new option. We use a weighted-average expected life for all awards. Expected volatility – Volatility is calculated using our historical volatility for the same period of time as the expected life. We have no reason to believe that our future volatility will differ materially from historical volatility. Risk-free interest rate – The rate is based on the U.S. Treasury yield curve in effect at the time of the grant for the same period of time as the expected life. Expected dividend yield – The calculation is based on the total expected annual dividend payout divided by the average stock price. Expense Recognition We use the straight-line attribution method to recognize share-based compensation expense for option awards, restricted stock shares and restricted stock units with graded and cliff vesting. Incentive stock options and performance awards are based on certain performance-based metrics and the expense is adjusted quarterly, based on our projections of the achievement of those metrics. The amount of share-based compensation expense recognized during a period is based on the value of the portion of the awards that are ultimately expected to vest. Total share-based compensation expense of $4,267 and $4,261 was included in our Condensed Consolidated Statements of Income for the quarter ended February 27, 2016 and February 28, 2015, respectively. All share-based compensation expense was recorded as selling, general and administrative expense. For the quarter ended February 27, 2016, there was $341 charged against the APIC Pool for tax deficiencies. For the quarter ended February 28, 2015, there was $397 of excess tax benefit recognized. As of February 27, 2016, there was $10,748 of unrecognized compensation costs related to unvested stock option awards, which is expected to be recognized over a weighted-average period of 1.6 years. Unrecognized compensation costs related to unvested restricted stock shares was $436 which is expected to be recognized over a weighted-average period of 0.9 years. Unrecognized compensation costs related to unvested restricted stock units was $11,631 which is expected to be recognized over a weighted-average period of 1.7 years. Share-based Activity A summary of option activity as of February 27, 2016 and changes during the quarter then ended is presented below: Options Weighted- Average Exercise Price Outstanding at November 28, 2015 2,912,073 $ 33.37 Granted 803,869 33.40 Exercised (1,206 ) 26.79 Forfeited or cancelled (86,897 ) 37.57 Outstanding at February 27, 2016 3,627,839 $ 33.28 The total fair value of options granted during the quarter ended February 27, 2016 and February 28, 2015 were $6,138 and $7,180, respectively. Total intrinsic value of options exercised during the quarter ended February 27, 2016 and February 28, 2015 were $11 and $1,326, respectively. Intrinsic value is the difference between our closing stock price on the respective trading day and the exercise price, multiplied by the number of options exercised. Proceeds received from option exercises during the quarter ended February 27, 2016 and February 28, 2015 were $32 and $1,684, respectively. A summary of nonvested restricted stock as of February 27, 2016 and changes during the quarter then ended is presented below: Units Shares Total Weighted- Average Grant Date Fair Value Weighted- Average Remaining Contractual Life (in Years) Nonvested at November 28, 2015 237,013 110,160 347,173 $ 42.17 0.8 Granted 203,668 - 203,668 33.65 2.1 Vested (99,135 ) (68,737 ) (167,872 ) 41.88 - Forfeited (19,942 ) (179 ) (20,121 ) 38.11 2.3 Nonvested at February 27, 2016 321,604 41,244 362,848 $ 37.78 1.6 Total fair value of restricted stock vested during the quarter ended February 27, 2016 and February 28, 2015 were $5,833 and $6,000, respectively. The total fair value of nonvested restricted stock at February 27, 2016 was $13,707. We repurchased 66,447 and 53,917 restricted stock shares during the quarter ended February 27, 2016 and February 28, 2015, respectively. The repurchases relate to statutory minimum tax withholding. We have a Directors’ Deferred Compensation plan that allows non-employee directors to defer all or a portion of their directors’ compensation in a number of investment choices, including units representing shares of our common stock. We also have a Key Employee Deferred Compensation Plan that allows key employees to defer a portion of their eligible compensation in a number of investment choices, including units, representing shares of our common stock. We provide a 10 percent match on deferred compensation invested into units, representing shares of our common stock. A summary of deferred compensation units as of February 27, 2016, and changes during the quarter then ended is presented below: Non-employee Directors Employees Total Units outstanding November 28, 2015 380,170 45,906 426,076 Participant contributions 9,742 2,118 11,860 Company match contributions 975 212 1,187 Payouts - (4,351 ) (4,351 ) Units outstanding February 27, 2016 390,887 43,885 434,772 Deferred compensation units are fully vested at the date of contribution.

Note 4 - Earnings Per Share

Note 4 - Earnings Per Share	3 Months Ended
	Feb. 27, 2016
Notes to Financial Statements
Earnings Per Share [Text Block]	Note 4: Earnings Per Share A reconciliation of the common share components for the basic and diluted earnings per share calculations is as follows: Quarter Ended February 27, February 28, (Shares in thousands) 2016 2015 Weighted-average common shares - basic 49,958 50,188 Equivalent shares from share-based compensations plans 1,037 1,191 Weighted-average common and common equivalent shares - diluted 50,995 51,379 Basic earnings per share is calculated by dividing net income attributable to H.B. Fuller by the weighted-average number of common shares outstanding during the applicable period. Diluted earnings per share is based upon the weighted-average number of common and common equivalent shares outstanding during the applicable period. The difference between basic and diluted earnings per share is attributable to share-based compensation awards. We use the treasury stock method to calculate the effect of outstanding shares, which computes total employee proceeds as the sum of (a) the amount the employee must pay upon exercise of the award, (b) the amount of unearned share-based compensation costs attributed to future services and (c) the amount of tax benefits, if any, that would be credited to additional paid-in capital assuming exercise of the award. Share-based compensation awards for which total employee proceeds exceed the average market price over the applicable period have an antidilutive effect on earnings per share, and accordingly, are excluded from the calculation of diluted earnings per share. Options to purchase 1,495,004 and 447,433 shares of common stock at a weighted-average exercise price of $42.88 and $48.59 for the quarter ended February 27, 2016 and February 28, 2015, respectively, were excluded from the diluted earnings per share calculations because they were antidilutive.

Note 5 - Accumulated Other Comp

Note 5 - Accumulated Other Comprehensive Income (Loss)	3 Months Ended
	Feb. 27, 2016
Notes to Financial Statements
Accumulated Other Comprehensive Income (Loss) Disclosure [Text Block]	Note 5: Accumulated Other Comprehensive Income (Loss) The following table provides details of total comprehensive income (loss): Quarter Ended February 27, 2016 Quarter Ended February 28, 2015 H.B. Fuller Stockholders Non- controlling Interests H.B. Fuller Stockholders Non- controlling Interests Pretax Tax Net Net Pretax Tax Net Net Net income including non-controlling interests - - $ 18,918 $ 49 - - $ 9,710 $ 85 Foreign currency translation adjustment ¹ $ (945 ) - (945 ) (5 ) $ (33,279 ) - (33,279 ) 10 Reclassification to earnings: Defined benefit pension plans adjustment ² 3,997 $ (1,332 ) 2,665 - 2,325 $ (798 ) 1,527 - Interest rate swap ³ 13 (3 ) 10 - 16 (6 ) 10 - Cash-flow hedges ³ 403 (154 ) 249 - (31 ) 6 (25 ) - Other comprehensive income (loss) $ 3,468 $ (1,489 ) 1,979 (5 ) $ (30,969 ) $ (798 ) (31,767 ) 10 Comprehensive income (loss) $ 20,897 $ 44 $ (22,057 ) $ 95 ¹ Income taxes are not provided for foreign currency translation relating to permanent investments in international subsidiaries. ² Loss reclassified from accumulated other comprehensive income (AOCI) into earnings as part of net periodic cost related to pension and other postretirement benefit plans is reported in cost of sales, selling, general and administrative (SG&A) and special charges, net. ³ Loss reclassified from AOCI into earnings is reported in other income (expense), net. The components of accumulated other comprehensive loss is as follows: February 27, 2016 Total H.B. Fuller Stockholders Non- controlling Interests Foreign currency translation adjustment $ (52,542 ) $ (52,499 ) $ (43 ) Defined benefit pension plans adjustment, net of taxes of $60,593 (171,735 ) (171,735 ) - Interest rate swap, net of taxes of $2 (3 ) (3 ) - Cash-flow hedges, net of taxes of $657 (1,068 ) (1,068 ) - Accumulated other comprehensive income (loss) $ (225,348 ) $ (225,305 ) $ (43 ) November 28, 2015 Total H.B. Fuller Stockholders Non- controlling Interests Foreign currency translation adjustment $ (51,592 ) $ (51,554 ) $ (38 ) Defined benefit pension plans adjustment, net of taxes of $93,012 (174,400 ) (174,400 ) - Interest rate swap, net of taxes of $5 (13 ) (13 ) - Cash-flow hedges, net of taxes of $811 (1,317 ) (1,317 ) - Accumulated other comprehensive (loss) income $ (227,322 ) $ (227,284 ) $ (38 )

Note 6 - Special Charges, Net

Note 6 - Special Charges, Net	3 Months Ended
	Feb. 27, 2016
Notes to Financial Statements
Special Charges [Text Block]	Note 6 : Special Charges , net The integration of the industrial adhesives business we acquired in March 2012 involved a significant amount of restructuring and capital investment to optimize the new combined entity. In addition, we have taken a series of actions in our existing EIMEA operating segment to improve the profitability and future growth prospects of this operating segment. We combined these two initiatives into a single project which we refer to as the “Business Integration Project”. During the quarter ended February 27, 2016 and February 28, 2015 , we incurred special charges, net of $413 and $2,361, respectively, for costs related to the Business Integration Project. The following table provides detail of special charges, net: Quarter Ended February 27, 2016 February 28, 2015 Acquisition and transformation related costs $ 105 $ 472 Workforce reduction costs (1 ) 56 Facility exit costs 273 1,529 Other related costs 36 304 Special charges, net $ 413 $ 2,361

Note 7 - Components of Net Peri

Note 7 - Components of Net Periodic Cost (Benefit) Related to Pension and Other Postretirement Benefit Plans	3 Months Ended
	Feb. 27, 2016
Notes to Financial Statements
Pension and Other Postretirement Benefits Disclosure [Text Block]	Note 7: Components of Net Periodic Cost (Benefit) related to Pension and Other Postretirement Benefit Plans Quarter Ended February 27, 2016 and February 28, 2015 Other Pension Benefits Postretirement U.S. Plans Non-U.S. Plans Benefits Net periodic cost (benefit): 2016 2015 2016 2015 2016 2015 Service cost $ 27 $ 27 $ 480 $ 507 $ 84 $ 112 Interest cost 3,767 4,081 1,367 1,516 480 510 Expected return on assets (6,077 ) (6,420 ) (2,482 ) (2,667 ) (1,342 ) (1,377 ) Amortization: Prior service cost 7 7 (1 ) (1 ) (10 ) (626 ) Actuarial loss (gain) 1,293 1,407 752 831 532 608 Net periodic (benefit) cost $ (983 ) $ (898 ) $ 116 $ 186 $ (256 ) $ (773 )

Note 8 - Inventories

Note 8 - Inventories	3 Months Ended
	Feb. 27, 2016
Notes to Financial Statements
Inventory Disclosure [Text Block]	Note 8: Inventories The composition of inventories is as follows: February 27, November 28, 2016 2015 Raw materials $ 128,305 $ 121,545 Finished goods 151,569 142,195 LIFO reserve (15,037 ) (15,236 ) Total inventories $ 264,837 $ 248,504

Note 9 - Financial Instruments

Note 9 - Financial Instruments	3 Months Ended
	Feb. 27, 2016
Notes to Financial Statements
Derivative Instruments and Hedging Activities Disclosure [Text Block]	Note 9: Financial Instruments Foreign Currency Derivative Instruments As a result of being a global enterprise, our earnings, cash flows and financial position are exposed to foreign currency risk from foreign currency denominated receivables and payables. These items are denominated in various foreign currencies, including the Euro, British pound sterling, Canadian dollar, Chinese renminbi, Japanese yen, Australian dollar, Argentine peso, Brazilian real, Colombian peso, Mexican peso, Turkish lira, Egyptian pound, Indian rupee and Malaysian ringgit. Our objective is to balance, where possible, local currency denominated assets to local currency denominated liabilities to have a natural hedge and minimize foreign exchange impacts. We take steps to minimize risks from foreign currency exchange rate fluctuations through normal operating and financing activities and, when deemed appropriate, through the use of derivative instruments. We do not enter into any speculative positions with regard to derivative instruments. We enter into derivative contracts with a group of investment grade multinational commercial banks. We evaluate the credit quality of each of these banks on a periodic basis as warranted. Effective October 7, 2015, we entered into three cross-currency swap agreements to convert a notional amount of $134,736 of foreign currency denominated intercompany loans into US dollars. The first swap matures in 2017, the second swap matures in 2018 and the third swap matures in 2019. As of February 27, 2016, the combined fair value of the swaps was an asset of $1,741 and was included in other assets in the Condensed Consolidated Balance Sheets. The swaps were designated as cash-flow hedges for accounting treatment. The lesser amount between the cumulative change in the fair value of the actual swaps and the cumulative change in the fair value of hypothetical swaps is recorded in accumulated other comprehensive income (loss) in the Condensed Consolidated Balance Sheets. The difference between the cumulative change in the fair value of the actual swaps and the cumulative change in the fair value of hypothetical swaps are recorded as other income (expense), net in the Condensed Consolidated Statements of Income. In a perfectly effective hedge relationship, the two fair value calculations would exactly offset each other. Any difference in the calculation represents hedge ineffectiveness. The ineffectiveness calculations as of February 27, 2016 resulted in additional pre-tax loss of $31 for the quarter ended February 27, 2016 as the change in fair value of the cross-currency swaps was less than the change in the fair value of the hypothetical swaps. The amount in accumulated other comprehensive income (loss) related to cross-currency swaps was a loss of $1,068 as of February 27, 2016. The estimated net amount of the existing loss that is reported in accumulated other comprehensive income (loss) as of February 27, 2016 that is expected to be reclassified into earnings within the next twelve months is $603. As of February 27, 2016, we do not believe any gains or losses will be reclassified into earnings as a result of the discontinuance of these cash flow hedges because the original forecasted transaction will not occur. The following table summarizes the cross-currency swaps outstanding as of February 27, 2016: Fiscal Year of Expiration Interest Rate Notional Value Fair Value Pay EUR 2017 3.05 % $ 44,912 $ 767 Receive USD 3.9145 % Pay EUR 2018 3.45 % $ 44,912 $ 568 Receive USD 4.5374 % Pay EUR 2019 3.80 % $ 44,912 $ 406 Receive USD 5.0530 % Total $ 134,736 $ 1,741 Except for the cross-currency swap agreements listed above, foreign currency derivative instruments outstanding are not designated as hedges for accounting purposes. The gains and losses related to mark-to-market adjustments are recognized as other income or expense in the Condensed Consolidated Statements of Income during the periods in which the derivative instruments are outstanding. See Note 14 for fair value amounts of these derivative instruments. As of February 27, 2016, we had forward foreign currency contracts maturing between March 15, 2016 and February 24, 2017. The mark-to-market effect associated with these contracts, on a net basis, was a gain of $1,384 at February 27, 2016. These gains were largely offset by the underlying transaction gains and losses resulting from the foreign currency exposures for which these contracts relate. Interest Rate Swaps We have interest rate swap agreements to convert $75,000 of our senior notes to variable interest rates. The change in fair value of the senior notes, attributable to the change in the risk being hedged, was a liability of $3,328 at February 27, 2016 and was included in long-term debt and current maturities of long-term debt in the Condensed Consolidated Balance Sheets. The combined fair value of the swaps were an asset of $3,510 at February 27, 2016 and were included in other assets in the Condensed Consolidated Balance Sheets. The swaps were designated for hedge accounting treatment as fair value hedges. The changes in the fair value of the swap and the fair value of the senior notes attributable to the change in the risk being hedged are recorded as other income (expense), net in the Condensed Consolidated Statements of Income. In a perfectly effective hedge relationship, the two fair value calculations would exactly offset each other. Any difference in the calculation represents hedge ineffectiveness. The calculation as of February 27, 2016 resulted in a pretax gain of $143 for the quarter ended February 27, 2016 as the fair value of the senior notes decreased by more than the change in the fair value of the interest rate swaps attributable to the change in the risk being hedged. The calculations as of February 28, 2015 resulted in a pre-tax gain of $59 for the quarter ended February 28, 2015 as the fair value of the interest rate swaps increased by more than the change in the fair value of the senior notes attributable to the change in the risk being hedged. Concentrations of credit risk with respect to trade accounts receivable are limited due to the large number of entities in the customer base and their dispersion across many different industries and countries. As of February 27, 2016, there were no significant concentrations of credit risk.

Note 10 - Commitments and Conti

Note 10 - Commitments and Contingencies	3 Months Ended
	Feb. 27, 2016
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	Note 10 : Commitments and Contingencies Environmental Matters From time to time, we become aware of compliance matters relating to, or receive notices from, federal, state or local entities regarding possible or alleged violations of environmental, health or safety laws and regulations. We review the circumstances of each individual site, considering the number of parties involved, the level of potential liability or our contribution relative to the other parties, the nature and magnitude of the hazardous substances involved, the method and extent of remediation, the estimated legal and consulting expense with respect to each site and the time period over which any costs would likely be incurred. Also, from time to time, we are identified as a potentially responsible party (PRP) under the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA) and/or similar state laws that impose liability for costs relating to the clean up of contamination resulting from past spills, disposal or other release of hazardous substances. We are also subject to similar laws in some of the countries where current and former facilities are located. Our environmental, health and safety department monitors compliance with applicable laws on a global basis. To the extent we can reasonably estimate the amount of our probable liabilities for environmental matters, we establish a financial provision. Currently we are involved in various environmental investigations, clean up activities and administrative proceedings and lawsuits. In particular, we are currently deemed a PRP in conjunction with numerous other parties, in a number of government enforcement actions associated with landfills and/or hazardous waste sites. As a PRP, we may be required to pay a share of the costs of investigation and clean up of these sites. In addition, we are engaged in environmental remediation and monitoring efforts at a number of current and former operating facilities. While uncertainties exist with respect to the amounts and timing of the ultimate environmental liabilities, based on currently available information, we have concluded that these matters, individually or in the aggregate, will not have a material adverse effect on our results of operations, financial condition or cash flow. Other Legal Proceedings From time to time and in the ordinary course of business, we are a party to, or a target of, lawsuits, claims, investigations and proceedings, including product liability, personal injury, contract, patent and intellectual property, environmental, health and safety, tax and employment matters. While we are unable to predict the outcome of these matters, we have concluded, based upon currently available information, that the ultimate resolution of any pending matter, individually or in the aggregate, including the asbestos litigation described in the following paragraphs, will not have a material adverse effect on our results of operations, financial condition or cash flow. We have been named as a defendant in lawsuits in which plaintiffs have alleged injury due to products containing asbestos manufactured more than 30 years ago. The plaintiffs generally bring these lawsuits against multiple defendants and seek damages (both actual and punitive) in very large amounts. In many cases, plaintiffs are unable to demonstrate that they have suffered any compensable injuries or that the injuries suffered were the result of exposure to products manufactured by us. We are typically dismissed as a defendant in such cases without payment. If the plaintiff presents evidence indicating that compensable injury occurred as a result of exposure to our products, the case is generally settled for an amount that reflects the seriousness of the injury, the length, intensity and character of exposure to products containing asbestos, the number and solvency of other defendants in the case, and the jurisdiction in which the case has been brought. A significant portion of the defense costs and settlements in asbestos-related litigation is paid by third parties, including indemnification pursuant to the provisions of a 1976 agreement under which we acquired a business from a third party. Currently, this third party is defending and paying settlement amounts, under a reservation of rights, in most of the asbestos cases tendered to the third party. In addition to the indemnification arrangements with third parties, we have insurance policies that generally provide coverage for asbestos liabilities, including defense costs. Historically, insurers have paid a significant portion of our defense costs and settlements in asbestos-related litigation. However, certain of our insurers are insolvent. We have entered into cost-sharing agreements with our insurers that provide for the allocation of defense costs and settlements and judgments in asbestos-related lawsuits. These agreements require, among other things, that we fund a share of settlements and judgments allocable to years in which the responsible insurer is insolvent A summary of the number of and settlement amounts for asbestos-related lawsuits and claims is as follows: Quarter Ended 3 Years Ended ($ in thousands) February 27, 2016 February 28, 2015 November 28, 2015 Lawsuits and claims settled 2 1 25 Settlement amounts $ 75 $ 50 $ 2,072 Insurance payments received or expected to be received $ 56 $ 37 $ 1,648 We do not believe that it would be meaningful to disclose the aggregate number of asbestos-related lawsuits filed against us because relatively few of these lawsuits are known to involve exposure to asbestos-containing products that we manufactured. Rather, we believe it is more meaningful to disclose the number of lawsuits that are settled and result in a payment to the plaintiff. To the extent we can reasonably estimate the amount of our probable liabilities for pending asbestos-related claims, we establish a financial provision and a corresponding receivable for insurance recoveries. Based on currently available information, we have concluded that the resolution of any pending matter, including asbestos-related litigation, individually or in the aggregate, will not have a material adverse effect on our results of operations, financial condition or cash flow.

Note 11 - Operating Segments

Note 11 - Operating Segments	3 Months Ended
	Feb. 27, 2016
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	Note 11 : Operating Segments We are required to report segment information in the same way that we internally organize our business for assessing performance and making decisions regarding allocation of resources. We evaluate the performance of each of our operating segments based on segment operating income, which is defined as gross profit less SG&A expenses. Segment operating income excludes special charges, net. Corporate expenses are fully allocated to each operating segment. Inter-segment revenues are recorded at cost plus a markup for administrative costs. Operating results of each segment are regularly reviewed by our chief operating decision maker to make decisions about resources to be allocated to the segments and assess their performance. Through the fourth quarter of 2015, our business was reported in four operating segments: Americas Adhesives, Europe, India, Middle East and Africa (EIMEA), Asia Pacific and Construction Products. Changes in our management reporting structure during the first quarter of 2016 required us to conduct an operating segment assessment in accordance with ASC Topic 280, Segment Reporting The table below provides certain information regarding net revenue and segment operating income for each of our operating segments: Quarter Ended February 27, 2016 February 28, 2015 Inter- Segment Inter- Segment Trade Segment Operating Trade Segment Operating Revenue Revenue Income Revenue Revenue Income Americas Adhesives $ 183,319 $ 3,630 $ 26,259 $ 194,073 $ 5,383 $ 21,677 EIMEA 124,291 5,271 6,163 134,115 4,551 685 Asia Pacific 53,860 951 3,753 55,343 3,466 3,145 Construction Products 60,074 104 785 58,456 176 1,014 Engineering Adhesives 52,782 - 878 28,674 - (5,148 ) Total $ 474,326 $ 37,838 $ 470,661 $ 21,373 Reconciliation of segment operating income to income before income taxes and income from equity method investments: Quarter Ended February 27, February 28, 2016 2015 Segment operating income $ 37,838 $ 21,373 Special charges, net (413 ) (2,361 ) Other income (expense), net (5,082 ) 363 Interest expense (6,308 ) (6,102 ) Income before income taxes and income from equity method investments $ 26,035 $ 13,273 The table below provides total assets of each of our operating segments as of November 28, 2015: Total assets November 28, 2015 Americas Adhesives $ 436,526 EIMEA 628,780 Asia Pacific 213,025 Construction Products 218,897 Engineering Adhesives 387,206 Corporate 157,818 Total $ 2,042,252

Note 12 - Income Taxes

Note 12 - Income Taxes	3 Months Ended
	Feb. 27, 2016
Notes to Financial Statements
Income Tax Disclosure [Text Block]	Note 12 : Income Taxes As of February 27, 2016, we had a liability of $5,124 recorded under FASB ASC 740, Income Taxes ,

Note 13 - Goodwill and Other In

Note 13 - Goodwill and Other Intangible Assets	3 Months Ended
	Feb. 27, 2016
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	Note 13 : Goodwill and Other Intangible Assets A summary of goodwill activity during the quarter ended February 27, 2016 is presented below: Americas Asia Construction Engineering Adhesives EIMEA Pacific Products Adhesives Total Balance at November 28, 2015 $ 59,706 $ 100,638 $ 17,329 $ 22,668 $ 153,863 $ 354,204 Acquisition adjustment - - - - 700 700 Currency impact (44 ) 2,154 143 35 (2,291 ) (3 ) Balance at February 27, 2016 $ 59,662 $ 102,792 $ 17,472 $ 22,703 $ 152,272 $ 354,901 As discussed in Note 11, during the first quarter of fiscal year 2016, we changed our operating segments as a result of a change in our management reporting structure. This resulted in a change in our reporting units. We allocated goodwill to our new reporting units using the relative fair value approach. Balances of amortizable identifiable intangible assets, excluding goodwill and other non-amortizable intangible assets, as of February 27, 2016 are as follows: Amortizable Intangible Assets Purchased Technology & Patents Customer Relationships All Other Total Original cost $ 69,813 $ 235,067 $ 49,578 $ 354,458 Accumulated amortization (19,618 ) (102,928 ) (25,971 ) (148,517 ) Net identifiable intangibles $ 50,195 $ 132,139 $ 23,607 $ 205,941 Amortization expense with respect to amortizable intangible assets was $6,698 and $6,148 for the first three months of 2016 and 2015, respectively. Estimated aggregate amortization expense based on the current carrying value of amortizable intangible assets for the next five fiscal years are as follows: Remainder of Fiscal Year 2016 2017 2018 2019 2020 Thereafter Amortization Expense $ 18,721 $ 25,057 $ 24,664 $ 22,740 $ 21,769 $ 92,990 Non-amortizable intangible assets as of February 27, 2016 are $462 and are related to trademarks and trade names.

Note 14 - Fair Value Measuremen

Note 14 - Fair Value Measurements	3 Months Ended
	Feb. 27, 2016
Notes to Financial Statements
Fair Value Disclosures [Text Block]	Note 14: Fair Value Measurements Estimates of fair value for financial assets and liabilities are based on the framework established in the accounting guidance for fair value measurements. The framework defines fair value, provides guidance for measuring fair value and requires certain disclosures. The framework discusses valuation techniques, such as the market approach (comparable market prices), the income approach (present value of future income or cash flow) and the cost approach (cost to replace the service capacity of an asset or replacement cost). The framework utilizes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The following is a brief description of those three levels: ● Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2: Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active. Level 3: Unobservable inputs that reflect management’s assumptions, and include situations where there is little, if any, market activity for the asset or liability. Balances Measured at Fair Value on a Recurring Basis The following table presents information about our financial assets and liabilities that are measured at fair value on a recurring basis as of February 27, 2016 and November 28, 2015, and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value. February 27, Fair Value Measurements Using: Description 2016 Level 1 Level 2 Level 3 Assets: Marketable securities $ 3,620 $ 3,620 $ - $ - Derivative assets 3,527 - 3,527 - Interest rate swaps 3,510 - 3,510 - Cash-flow hedges 1,741 - 1,741 - Liabilities: Derivative liabilities $ 2,143 $ - $ 2,143 $ - Contingent consideration liability 11,794 - - 11,794 November 28, Fair Value Measurements Using: Description 2015 Level 1 Level 2 Level 3 Assets: Marketable securities $ 1,698 $ 1,698 $ - $ - Derivative assets 15,185 - 15,185 - Interest rate swaps 3,395 - 3,395 - Cash-flow hedges 5,384 - 5,384 - Liabilities: Derivative liabilities $ 4,744 $ - $ 4,744 $ - Contingent consideration liability 10,854 - - 10,854 We use the income approach in calculating the fair value of our contingent consideration liabilities using a discounted cash flow model and Level 3 inputs. The expected cash flows are affected by various significant judgments and assumptions, including revenue growth rates, profit margin percentages and discount rate, which are sensitive to change. Estimates of fair value are inherently uncertain and represent only management’s reasonable expectation regarding future developments. These estimates and the judgments and assumptions upon which the estimates are based will, in all likelihood, differ in some respects from actual future results. The valuation of our contingent consideration related to the acquisition of Tonsan Adhesive, Inc. as of February 27, 2016 resulted in a fair value of $11,644 and a $487 net mark to market adjustment recorded to SG&A in the Condensed Consolidated Statement of Income as of February 27, 2016. Contingent consideration liabilities Level 3 balance November 28, 2015 $ 10,854 Opening balance sheet adjustment 700 Mark to market adjustment 487 Foreign currency translation adjustment (247 ) Level 3 balance February 27, 2016 $ 11,794

Note 15 - Share Repurchase Prog

Note 15 - Share Repurchase Program	3 Months Ended
	Feb. 27, 2016
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	Note 15 : Share Repurchase Program On September 30, 2010, the Board of Directors authorized a share repurchase program of up to $100,000 of our outstanding common shares. Under the program, we are authorized to repurchase shares for cash on the open market, from time to time, in privately negotiated transactions or block transactions, or through an accelerated repurchase agreement. The timing of such repurchases is dependent on price, market conditions and applicable regulatory requirements. Upon repurchase of the shares, we reduced our common stock for the par value of the shares with the excess being applied against additional paid-in capital. During the quarter ended February 27, 2016, we repurchased shares under this program, with an aggregate value of $4,210. Of this amount, $125 reduced common stock and $4,085 reduced additional paid-in capital. We did not repurchase any shares during the quarter ended February 28, 2015.

Note 16 - Redeemable Non-Contro

Note 16 - Redeemable Non-Controlling Interest	3 Months Ended
	Feb. 27, 2016
Notes to Financial Statements
Noncontrolling Interest Disclosure [Text Block]	Note 16 : Redeemable Non-Controlling Interest We account for the non-controlling interest in H.B. Fuller Kimya Sanayi Ticaret A.S. (HBF Kimya) as a redeemable non-controlling interest because both the non-controlling shareholder and H.B. Fuller have an option, exercisable beginning August 1, 2018, to require the redemption of the shares owned by the non-controlling shareholder at a price determined by a formula based on 24 months trailing EBITDA. Since the option makes the redemption of the non-controlling ownership shares of HBF Kimya outside of our control, these shares are classified as a redeemable non-controlling interest in temporary equity in the Condensed Consolidated Balance Sheets. The non-controlling shareholder is entitled to increase his ownership by 1 percent per year for 5 years up to a maximum of 13 percent ownership based on the achievement of profitability targets in each year. The option is subject to a minimum price of €3,500. The redemption value of the option, if it were currently redeemable, is estimated to be €3,500. The results of operations for the HBF Kimya non-controlling interest is consolidated in our financial statements. Both the non-controlling interest and the accretion adjustment to redemption value are included in net income attributable to non-controlling interests in the Condensed Consolidated Statements of Income and in the carrying value of the redeemable non-controlling interest on the Condensed Consolidated Balance Sheets. HBF Kimya’s functional currency is the Turkish lira and changes in exchange rates will affect the reported amount of the redeemable non-controlling interest. Redeemable Non-Controlling Interest Balance at November 28, 2015 $ 4,199 Net income (loss) attributed to redeemable non-controlling interest 41 Foreign currency translation adjustment 136 Balance at February 27, 2016 $ 4,376

Note 17 - Subsequent Event

Note 17 - Subsequent Event	3 Months Ended
	Feb. 27, 2016
Notes to Financial Statements
Subsequent Events [Text Block]	Note 17 : Subsequent Event On April 5, 2016, we entered into an agreement to purchase the equity of Advanced Adhesives Pty Limited and the business assets of Advanced Adhesives (New Zealand) Limited for a combined 12 million Australian dollars, or approximately $9,000, subject to certain closing conditions. These entities develop, manufacture and distribute hot melt and water-based adhesives for packaging, woodworking and durable assembly applications in Australia and New Zealand.

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Feb. 27, 2016
Accounting Policies [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	New Accounting Pronouncements In March 2016, the FASB issued ASU No. 2016-08, Revenue from Contracts with Customers (Topic 606), Principal v ersus Agent Considerations (Reporting Revenue Gross versus Net) In February 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-05, Derivatives and Hedging (Topic 815). . We have evaluated the effect that this guidance will have on our Consolidated Financial Statements and related disclosures and determined it will not have a material impact. In February 2016, the FASB issued ASU No. 2016-02, Leases (Subtopic 842). . The new guidance must be adopted using a modified retrospective transition approach, and provides for certain practical expedients. We are currently evaluating the impact that the new guidance will have on our consolidated financial statements. In June 2014, the FASB issued ASU No. 2014-12, Compensation - Stock Compensation (Topic 718), Accounting for Share-Based Payments When the Terms of an Award That a Performance Target Could Be Achieved after the Requisite Service Period, e elected to early adopt this guidance as of our first quarter ended February 27, 2016. The adoption of this guidance did not have a material impact on our Consolidated Financial Statements. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606),

Note 2 - Acquisitions (Tables)

Note 2 - Acquisitions (Tables)	3 Months Ended
	Feb. 27, 2016
Tonsan Adhesive [Member]
Notes Tables
Schedule of Business Acquisitions, by Acquisition [Table Text Block]	Preliminary Valuation November 28, 2015 Purchase Price and Fair Value Adjustments Final Valuation February 27, 2016 Current assets $ 49,839 $ - $ 49,839 Property, plant and equipment 59,142 - 59,142 Goodwill 125,090 700 1 125,790 Other intangibles Developed technology 18,600 - 18,600 Customer relationships 25,700 - 25,700 Trademarks/trade names 11,000 - 11,000 Other assets 13,540 - 13,540 Current liabilities (38,068 ) - (38,068 ) Other liabilities (37,145 ) (700 ) 1 (37,845 ) Redeemable non-controlling interests (11,773 ) - (11,773 ) Total purchase price $ 215,925 $ - $ 215,925

Note 3 - Accounting for Share28

Note 3 - Accounting for Share-Based Compensation (Tables)	3 Months Ended
	Feb. 27, 2016
Notes Tables
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value [Table Text Block]	Quarter Ended February 27, 2016 February 28, 2015 Expected life (in years) 4.75 4.61 Weighted-average expected volatility 29.03% 30.91% Expected volatility 29.03% - 29.23 25.50% - 31.67% Risk-free interest rate 1.44% 1.26% Expected dividend yield 1.56% 1.17% Weighted-average fair value of grants $ 7.64 $ 10.21
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	Options Weighted- Average Exercise Price Outstanding at November 28, 2015 2,912,073 $ 33.37 Granted 803,869 33.40 Exercised (1,206 ) 26.79 Forfeited or cancelled (86,897 ) 37.57 Outstanding at February 27, 2016 3,627,839 $ 33.28
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block]	Units Shares Total Weighted- Average Grant Date Fair Value Weighted- Average Remaining Contractual Life (in Years) Nonvested at November 28, 2015 237,013 110,160 347,173 $ 42.17 0.8 Granted 203,668 - 203,668 33.65 2.1 Vested (99,135 ) (68,737 ) (167,872 ) 41.88 - Forfeited (19,942 ) (179 ) (20,121 ) 38.11 2.3 Nonvested at February 27, 2016 321,604 41,244 362,848 $ 37.78 1.6
Schedule of Deferred Compensation Arrangement with Individual, Share-based Payments [Table Text Block]	Non-employee Directors Employees Total Units outstanding November 28, 2015 380,170 45,906 426,076 Participant contributions 9,742 2,118 11,860 Company match contributions 975 212 1,187 Payouts - (4,351 ) (4,351 ) Units outstanding February 27, 2016 390,887 43,885 434,772

Note 4 - Earnings Per Share (Ta

Note 4 - Earnings Per Share (Tables)	3 Months Ended
	Feb. 27, 2016
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Quarter Ended February 27, February 28, (Shares in thousands) 2016 2015 Weighted-average common shares - basic 49,958 50,188 Equivalent shares from share-based compensations plans 1,037 1,191 Weighted-average common and common equivalent shares - diluted 50,995 51,379

Note 5 - Accumulated Other Co30

Note 5 - Accumulated Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Feb. 27, 2016
Notes Tables
Comprehensive Income (Loss) [Table Text Block]	Quarter Ended February 27, 2016 Quarter Ended February 28, 2015 H.B. Fuller Stockholders Non- controlling Interests H.B. Fuller Stockholders Non- controlling Interests Pretax Tax Net Net Pretax Tax Net Net Net income including non-controlling interests - - $ 18,918 $ 49 - - $ 9,710 $ 85 Foreign currency translation adjustment ¹ $ (945 ) - (945 ) (5 ) $ (33,279 ) - (33,279 ) 10 Reclassification to earnings: Defined benefit pension plans adjustment ² 3,997 $ (1,332 ) 2,665 - 2,325 $ (798 ) 1,527 - Interest rate swap ³ 13 (3 ) 10 - 16 (6 ) 10 - Cash-flow hedges ³ 403 (154 ) 249 - (31 ) 6 (25 ) - Other comprehensive income (loss) $ 3,468 $ (1,489 ) 1,979 (5 ) $ (30,969 ) $ (798 ) (31,767 ) 10 Comprehensive income (loss) $ 20,897 $ 44 $ (22,057 ) $ 95
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	February 27, 2016 Total H.B. Fuller Stockholders Non- controlling Interests Foreign currency translation adjustment $ (52,542 ) $ (52,499 ) $ (43 ) Defined benefit pension plans adjustment, net of taxes of $60,593 (171,735 ) (171,735 ) - Interest rate swap, net of taxes of $2 (3 ) (3 ) - Cash-flow hedges, net of taxes of $657 (1,068 ) (1,068 ) - Accumulated other comprehensive income (loss) $ (225,348 ) $ (225,305 ) $ (43 ) November 28, 2015 Total H.B. Fuller Stockholders Non- controlling Interests Foreign currency translation adjustment $ (51,592 ) $ (51,554 ) $ (38 ) Defined benefit pension plans adjustment, net of taxes of $93,012 (174,400 ) (174,400 ) - Interest rate swap, net of taxes of $5 (13 ) (13 ) - Cash-flow hedges, net of taxes of $811 (1,317 ) (1,317 ) - Accumulated other comprehensive (loss) income $ (227,322 ) $ (227,284 ) $ (38 )

Note 6 - Special Charges, Net (

Note 6 - Special Charges, Net (Tables)	3 Months Ended
	Feb. 27, 2016
Notes Tables
Business Acquisition, Integration, Restructuring and Other Related Costs [Text Block]	Quarter Ended February 27, 2016 February 28, 2015 Acquisition and transformation related costs $ 105 $ 472 Workforce reduction costs (1 ) 56 Facility exit costs 273 1,529 Other related costs 36 304 Special charges, net $ 413 $ 2,361

Note 7 - Components of Net Pe32

Note 7 - Components of Net Periodic Cost (Benefit) Related to Pension and Other Postretirement Benefit Plans (Tables)	3 Months Ended
	Feb. 27, 2016
Notes Tables
Schedule of Net Benefit Costs [Table Text Block]	Quarter Ended February 27, 2016 and February 28, 2015 Other Pension Benefits Postretirement U.S. Plans Non-U.S. Plans Benefits Net periodic cost (benefit): 2016 2015 2016 2015 2016 2015 Service cost $ 27 $ 27 $ 480 $ 507 $ 84 $ 112 Interest cost 3,767 4,081 1,367 1,516 480 510 Expected return on assets (6,077 ) (6,420 ) (2,482 ) (2,667 ) (1,342 ) (1,377 ) Amortization: Prior service cost 7 7 (1 ) (1 ) (10 ) (626 ) Actuarial loss (gain) 1,293 1,407 752 831 532 608 Net periodic (benefit) cost $ (983 ) $ (898 ) $ 116 $ 186 $ (256 ) $ (773 )

Note 8 - Inventories (Tables)

Note 8 - Inventories (Tables)	3 Months Ended
	Feb. 27, 2016
Notes Tables
Schedule of Inventory, Current [Table Text Block]	February 27, November 28, 2016 2015 Raw materials $ 128,305 $ 121,545 Finished goods 151,569 142,195 LIFO reserve (15,037 ) (15,236 ) Total inventories $ 264,837 $ 248,504

Note 9 - Financial Instruments

Note 9 - Financial Instruments (Tables)	3 Months Ended
	Feb. 27, 2016
Notes Tables
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]	Fiscal Year of Expiration Interest Rate Notional Value Fair Value Pay EUR 2017 3.05 % $ 44,912 $ 767 Receive USD 3.9145 % Pay EUR 2018 3.45 % $ 44,912 $ 568 Receive USD 4.5374 % Pay EUR 2019 3.80 % $ 44,912 $ 406 Receive USD 5.0530 % Total $ 134,736 $ 1,741

Note 10 - Commitments and Con35

Note 10 - Commitments and Contingencies (Tables)	3 Months Ended
	Feb. 27, 2016
Notes Tables
Schedule of Loss Contingencies by Contingency [Table Text Block]	Quarter Ended 3 Years Ended ($ in thousands) February 27, 2016 February 28, 2015 November 28, 2015 Lawsuits and claims settled 2 1 25 Settlement amounts $ 75 $ 50 $ 2,072 Insurance payments received or expected to be received $ 56 $ 37 $ 1,648

Note 11 - Operating Segments (T

Note 11 - Operating Segments (Tables)	3 Months Ended
	Feb. 27, 2016
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Quarter Ended February 27, 2016 February 28, 2015 Inter- Segment Inter- Segment Trade Segment Operating Trade Segment Operating Revenue Revenue Income Revenue Revenue Income Americas Adhesives $ 183,319 $ 3,630 $ 26,259 $ 194,073 $ 5,383 $ 21,677 EIMEA 124,291 5,271 6,163 134,115 4,551 685 Asia Pacific 53,860 951 3,753 55,343 3,466 3,145 Construction Products 60,074 104 785 58,456 176 1,014 Engineering Adhesives 52,782 - 878 28,674 - (5,148 ) Total $ 474,326 $ 37,838 $ 470,661 $ 21,373
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block]	Quarter Ended February 27, February 28, 2016 2015 Segment operating income $ 37,838 $ 21,373 Special charges, net (413 ) (2,361 ) Other income (expense), net (5,082 ) 363 Interest expense (6,308 ) (6,102 ) Income before income taxes and income from equity method investments $ 26,035 $ 13,273
Reconciliation of Assets from Segment to Consolidated [Table Text Block]	Total assets November 28, 2015 Americas Adhesives $ 436,526 EIMEA 628,780 Asia Pacific 213,025 Construction Products 218,897 Engineering Adhesives 387,206 Corporate 157,818 Total $ 2,042,252

Note 13 - Goodwill and Other 37

Note 13 - Goodwill and Other Intangible Assets (Tables)	3 Months Ended
	Feb. 27, 2016
Notes Tables
Schedule of Goodwill [Table Text Block]	Americas Asia Construction Engineering Adhesives EIMEA Pacific Products Adhesives Total Balance at November 28, 2015 $ 59,706 $ 100,638 $ 17,329 $ 22,668 $ 153,863 $ 354,204 Acquisition adjustment - - - - 700 700 Currency impact (44 ) 2,154 143 35 (2,291 ) (3 ) Balance at February 27, 2016 $ 59,662 $ 102,792 $ 17,472 $ 22,703 $ 152,272 $ 354,901
Schedule of Acquired Finite-Lived Intangible Assets by Major Class [Table Text Block]	Amortizable Intangible Assets Purchased Technology & Patents Customer Relationships All Other Total Original cost $ 69,813 $ 235,067 $ 49,578 $ 354,458 Accumulated amortization (19,618 ) (102,928 ) (25,971 ) (148,517 ) Net identifiable intangibles $ 50,195 $ 132,139 $ 23,607 $ 205,941
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	Remainder of Fiscal Year 2016 2017 2018 2019 2020 Thereafter Amortization Expense $ 18,721 $ 25,057 $ 24,664 $ 22,740 $ 21,769 $ 92,990

Note 14 - Fair Value Measurem38

Note 14 - Fair Value Measurements (Tables)	3 Months Ended
	Feb. 27, 2016
Notes Tables
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	February 27, Fair Value Measurements Using: Description 2016 Level 1 Level 2 Level 3 Assets: Marketable securities $ 3,620 $ 3,620 $ - $ - Derivative assets 3,527 - 3,527 - Interest rate swaps 3,510 - 3,510 - Cash-flow hedges 1,741 - 1,741 - Liabilities: Derivative liabilities $ 2,143 $ - $ 2,143 $ - Contingent consideration liability 11,794 - - 11,794 November 28, Fair Value Measurements Using: Description 2015 Level 1 Level 2 Level 3 Assets: Marketable securities $ 1,698 $ 1,698 $ - $ - Derivative assets 15,185 - 15,185 - Interest rate swaps 3,395 - 3,395 - Cash-flow hedges 5,384 - 5,384 - Liabilities: Derivative liabilities $ 4,744 $ - $ 4,744 $ - Contingent consideration liability 10,854 - - 10,854
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	Contingent consideration liabilities Level 3 balance November 28, 2015 $ 10,854 Opening balance sheet adjustment 700 Mark to market adjustment 487 Foreign currency translation adjustment (247 ) Level 3 balance February 27, 2016 $ 11,794

Note 16 - Redeemable Non-Cont39

Note 16 - Redeemable Non-Controlling Interest (Tables)	3 Months Ended
	Feb. 27, 2016
Notes Tables
Redeemable Noncontrolling Interest [Table Text Block]	Redeemable Non-Controlling Interest Balance at November 28, 2015 $ 4,199 Net income (loss) attributed to redeemable non-controlling interest 41 Foreign currency translation adjustment 136 Balance at February 27, 2016 $ 4,376

Note 2 - Acquisitions (Details

Note 2 - Acquisitions (Details Textual) € in Thousands, $ in Thousands, ¥ in Millions	Feb. 03, 2015EUR (€)	Feb. 03, 2015USD ($)	Feb. 02, 2015USD ($)	Feb. 02, 2015CNY (¥)	Feb. 27, 2016USD ($)	Feb. 28, 2015USD ($)	Nov. 28, 2015USD ($)	Feb. 02, 2015CNY (¥)
Continental Products Limited [Member]
Payments to Acquire Businesses, Net of Cash Acquired	€ 1,459	$ 1,647
Cash Acquired from Acquisition		$ 371
Tonsan Adhesive [Member] | Trademarks and Trade Names [Member]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life			14 years	14 years
Tonsan Adhesive [Member]
Payments to Acquire Businesses, Net of Cash Acquired			$ 215,925	¥ 1,400
Cash Acquired from Acquisition			$ 7,754
Business Acquisition, Percentage of Voting Interests Acquired			95.00%					95.00%
Business Combination, Agreement to Purchase Remaining Equity					$ 11,773		$ 11,773
Tonson Adhesive [Member]
Business Acquisition, Remaining Percentage of Voting Interests to Be Acquired			5.00%					5.00%
Business Combination, Agreement to Purchase Remaining Equity			$ 13,038		$ 11,773		$ 7,714	¥ 82
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High			$ 66,848					¥ 418
Payments to Acquire Businesses, Net of Cash Acquired						$ 217,638

Note 2 - Purchase Price Allocat

Note 2 - Purchase Price Allocation of Assets and Liabilities Assumed of Tonsan Adhesive (Details) - USD ($) $ in Thousands		3 Months Ended
		Feb. 27, 2016	Nov. 28, 2015
Tonsan Adhesive [Member] | Intellectual Property [Member]
Other inangibles		$ 18,600	$ 18,600
Other inangibles
Tonsan Adhesive [Member] | Customer Relationships [Member]
Other inangibles		$ 25,700	25,700
Other inangibles
Tonsan Adhesive [Member] | Trademarks and Trade Names [Member]
Other inangibles		$ 11,000	11,000
Other inangibles
Tonsan Adhesive [Member]
Current assets		$ 49,839	49,839
Current assets
Property, plant and equipment		$ 59,142	59,142
Property, plant and equipment
Goodwill		$ 125,790	125,090
Goodwill	[1]	700
Other assets		$ 13,540	13,540
Other assets
Current liabilities		$ (38,068)	(38,068)
Current liabilities
Other liabilities		$ (37,845)	(37,145)
Other liabilities	[1]	(700)
Redeemable non-controlling interests		$ (11,773)	(11,773)
Redeemable non-controlling interests
Total purchase price		$ 215,925	215,925
Goodwill		354,901	$ 354,204
Goodwill		$ 700
[1]	Relates to an adjustment to the contingent consideration liability discussed above.

Note 3 - Accounting for Share42

Note 3 - Accounting for Share-Based Compensation (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Feb. 27, 2016	Feb. 28, 2015
Employee Stock Option [Member]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options	$ 10,748
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	1 year 219 days
Restricted Stock [Member]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	328 days
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options	$ 436
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value	$ 5,833	$ 6,000
Restricted Stock Units (RSUs) [Member]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	1 year 255 days
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options	$ 11,631
Employees [Member]
Deferred Compensation Plan, Matching Percentage	10.00%
Allocated Share-based Compensation Expense	$ 4,267	4,261
Adjustments to Additional Paid in Capital, Income Tax Deficiency from Share-based Compensation	341
Employee Service Share-based Compensation, Tax Benefit Realized from Exercise of Stock Options		397
Fair Value Options Granted During Period Value Share-based Compensation	6,138	7,180
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value	11	1,326
Proceeds from Issuance of Shares under Incentive and Share-based Compensation Plans, Including Stock Options	32	$ 1,684
Total Fair Value of Nonvested Restricted Stock	$ 13,707
Repurchased Restricted Stock Shares	66,447	53,917

Note 3 - Fair Value of Options

Note 3 - Fair Value of Options Granted (Details) - $ / shares	3 Months Ended
	Feb. 27, 2016	Feb. 28, 2015
Minimum [Member]
Expected volatility	29.03%	25.50%
Maximum [Member]
Expected volatility	29.23%	31.67%
Expected life (in years)	4 years 273 days	4 years 222 days
Weighted-average expected volatility	29.03%	30.91%
Risk-free interest rate	1.44%	1.26%
Expected dividend yield	1.56%	1.17%
Weighted-average fair value of grants (in dollars per share)	$ 7.64	$ 10.21

Note 3 - Stock Option Activity

Note 3 - Stock Option Activity (Details)	3 Months Ended
	Feb. 27, 2016$ / sharesshares
Outstanding Options (in shares) | shares	2,912,073
Outstanding Options (in dollars per share) | $ / shares	$ 33.37
Granted (in shares) | shares	803,869
Granted (in dollars per share) | $ / shares	$ 33.40
Exercised (in shares) | shares	(1,206)
Exercised (in dollars per share) | $ / shares	$ 26.79
Forfeited or cancelled (in shares) | shares	(86,897)
Forfeited or cancelled (in dollars per share) | $ / shares	$ 37.57
Outstanding Options (in shares) | shares	3,627,839
Outstanding Options (in dollars per share) | $ / shares	$ 33.28

Note 3 - Nonvested Restricted S

Note 3 - Nonvested Restricted Stock Activity (Details) - $ / shares	3 Months Ended	12 Months Ended
	Feb. 27, 2016	Nov. 28, 2015
Restricted Stock Units (RSUs) [Member]
Nonvested (in shares)	237,013
Granted (in shares)	203,668
Vested (in shares)	(99,135)
Forfeited (in shares)	(19,942)
Nonvested (in shares)	321,604	237,013
Restricted Stock [Member]
Nonvested (in shares)	110,160
Granted (in shares)
Vested (in shares)	(68,737)
Forfeited (in shares)	(179)
Nonvested (in shares)	41,244	110,160
Nonvested (in shares)	347,173
Nonvested (in dollars per share)	$ 42.17
Nonvested	1 year 219 days	292 days
Granted (in shares)	203,668
Granted (in dollars per share)	$ 33.65
Granted	2 years 36 days
Vested (in shares)	(167,872)
Vested (in dollars per share)	$ 41.88
Forfeited (in shares)	(20,121)
Forfeited (in dollars per share)	$ 38.11
Forfeited	2 years 109 days
Nonvested (in shares)	362,848	347,173
Nonvested (in dollars per share)	$ 37.78	$ 42.17

Note 3 - Deferred Compensation

Note 3 - Deferred Compensation Units (Details)	3 Months Ended
	Feb. 27, 2016shares
Non Employee Directors [Member]
Units outstanding (in shares)	380,170
Participant contributions (in shares)	9,742
Company match contributions (in shares)	975
Payouts (in shares)
Units outstanding (in shares)	390,887
Employees [Member]
Units outstanding (in shares)	45,906
Participant contributions (in shares)	2,118
Company match contributions (in shares)	212
Payouts (in shares)	(4,351)
Units outstanding (in shares)	43,885
Units outstanding (in shares)	426,076
Participant contributions (in shares)	11,860
Company match contributions (in shares)	1,187
Payouts (in shares)	(4,351)
Units outstanding (in shares)	434,772

Note 4 - Earnings Per Share (De

Note 4 - Earnings Per Share (Details Textual) - $ / shares	3 Months Ended
	Feb. 27, 2016	Feb. 28, 2015
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	1,495,004	447,433
Antidilutive Weighted Average Share Price Excluded from Computation of Earnings Per Share Amount	$ 42.88	$ 48.59

Note 4 - Earnings Per Share (48

Note 4 - Earnings Per Share (Details) - shares shares in Thousands	3 Months Ended
	Feb. 27, 2016	Feb. 28, 2015
Weighted-average common shares - basic (in shares)	49,958	50,188
Equivalent shares from share-based compensations plans (in shares)	1,037	1,191
Weighted-average common and common equivalent shares - diluted (in shares)	50,995	51,379

Note 5 - Comprehensive Income (

Note 5 - Comprehensive Income (Loss) Information (Details) - USD ($) $ in Thousands		3 Months Ended
		Feb. 27, 2016	Feb. 28, 2015
Net income attributable to H.B. Fuller		$ 18,918	$ 9,710
Net income including non-controlling interests		49	85
Foreign currency translation adjustment¹	[1]	$ (945)	$ (33,279)
Foreign currency translation adjustment¹	[1]
Foreign currency translation adjustment¹	[1]	$ (945)	$ (33,279)
Foreign currency translation adjustment¹	[1]	(5)	10
Defined benefit pension plans adjustment²	[2]	3,997	2,325
Defined benefit pension plans adjustment²	[2]	(1,332)	(798)
Defined benefit pension plans adjustment²	[2]	2,665	1,527
Interest rate swap³	[3]	13	16
Interest rate swap³	[3]	(3)	(6)
Interest rate swap³	[3]	10	10
Cash-flow hedges³	[3]	403	(31)
Cash-flow hedges³	[3]	(154)	6
Cash-flow hedges³	[3]	249	(25)
Other comprehensive income (loss)		3,468	(30,969)
Other comprehensive income (loss)		(1,489)	(798)
Other comprehensive income (loss)		1,979	(31,767)
Other comprehensive income (loss)		(5)	10
Comprehensive income (loss)		20,897	(22,057)
Comprehensive income (loss)		$ 44	$ 95
[1]	Income taxes are not provided for foreign currency translation relating to permanent investments in international subsidiaries.
[2]	Loss reclassified from AOCI into earnings as part of net periodic cost related to pension and other postretirement benefit plans is reported in cost of sales, SG&A and special charges.
[3]	Loss reclassified from AOCI into earnings is reported in other income (expense), net.

Note 5 - Components of Accumula

Note 5 - Components of Accumulaed Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	Feb. 27, 2016	Nov. 28, 2015
AOCI Including Portion Attributable to Noncontrolling Interest [Member]
Foreign currency translation adjustment	$ (52,542)	$ (51,592)
Defined benefit pension plans adjustment, net of taxes of $60,593	(171,735)	(174,400)
Interest rate swap, net of taxes of $2	(3)	(13)
Accumulated Other Comprehensive Income (Loss), Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Effect Net of Tax	(1,068)	(1,317)
Accumulated other comprehensive income (loss)	(225,348)	(227,322)
AOCI Attributable to Parent [Member]
Foreign currency translation adjustment	(52,499)	(51,554)
Defined benefit pension plans adjustment, net of taxes of $60,593	(171,735)	(174,400)
Interest rate swap, net of taxes of $2	(3)	(13)
Accumulated Other Comprehensive Income (Loss), Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Effect Net of Tax	(1,068)	(1,317)
Accumulated other comprehensive income (loss)	(225,305)	(227,284)
AOCI Attributable to Noncontrolling Interest [Member]
Foreign currency translation adjustment	$ (43)	$ (38)
Defined benefit pension plans adjustment, net of taxes of $60,593
Interest rate swap, net of taxes of $2
Accumulated Other Comprehensive Income (Loss), Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Effect Net of Tax
Accumulated other comprehensive income (loss)	$ (43)	$ (38)
Accumulated other comprehensive income (loss)	$ (225,305)	$ (227,284)

Note 5 - Components of Accumu51

Note 5 - Components of Accumulaed Other Comprehensive Income (Loss) (Details) (Parentheticals) - USD ($) $ in Thousands	Feb. 27, 2016	Nov. 28, 2015
Taxes on defined benefit pension plans adjustment	$ 60,593	$ 93,012
Tax on interest rate swap	2	5
Tax on cash-flow hedges	$ 658	$ 811

Note 6 - Special Charges, Net52

Note 6 - Special Charges, Net (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Feb. 27, 2016	Feb. 28, 2015
Business Integration Project [Member]
Other Nonrecurring (Income) Expense	$ 413	$ 2,361
Other Nonrecurring (Income) Expense	$ 413	$ 2,361

Note 6 - Special Charges (Detai

Note 6 - Special Charges (Details) - USD ($) $ in Thousands	3 Months Ended
	Feb. 27, 2016	Feb. 28, 2015
Business Integration Project [Member]
Acquisition and transformation related costs	$ 105	$ 472
Workforce reduction costs	(1)
Workforce reduction costs		56
Facility exit costs	273	1,529
Other related costs	36	304
Special charges, net	413	2,361
Special charges, net	$ 413	$ 2,361

Note 7 - Components of Net Pe54

Note 7 - Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands	3 Months Ended
	Feb. 27, 2016	Feb. 28, 2015
United States Pension Plan of US Entity [Member]
Service cost	$ 27	$ 27
Interest cost	3,767	4,081
Expected return on assets	(6,077)	(6,420)
Prior service cost	7	7
Actuarial loss (gain)	1,293	1,407
Net periodic (benefit) cost	(983)	(898)
Foreign Pension Plan [Member]
Service cost	480	507
Interest cost	1,367	1,516
Expected return on assets	(2,482)	(2,667)
Prior service cost	(1)	(1)
Actuarial loss (gain)	752	831
Net periodic (benefit) cost	116	186
Other Postretirement Benefit Plan [Member]
Service cost	84	112
Interest cost	480	510
Expected return on assets	(1,342)	(1,377)
Prior service cost	(10)	(626)
Actuarial loss (gain)	532	608
Net periodic (benefit) cost	$ (256)	$ (773)

Note 8 - Inventories (Details)

Note 8 - Inventories (Details) - USD ($) $ in Thousands	Feb. 27, 2016	Nov. 28, 2015
Raw materials	$ 128,305	$ 121,545
Finished goods	151,569	142,195
LIFO reserve	(15,037)	(15,236)
Total inventories	$ 264,837	$ 248,504

Note 9 - Financial Instrument56

Note 9 - Financial Instruments (Details Textual) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Feb. 27, 2016	Nov. 28, 2015	Oct. 07, 2015
Cross Currency Interest Rate Contract [Member]
Derivative, Notional Amount	$ 134,736		$ 134,736
Foreign Currency Cash Flow Hedge Asset at Fair Value	1,741
Gain (Loss) on Foreign Currency Cash Flow Hedge Ineffectiveness	(31)
Accumulated Other Comprehensive Income (Loss), Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Effect Net of Tax	1,068
Foreign Currency Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months	603
Interest Rate Swap [Member]
Derivative, Amount of Hedged Item	75,000
Interest Rate Fair Value Hedge Liability at Fair Value	3,328
Interest Rate Fair Value Hedge Asset at Fair Value	3,510
Derivative, Net Hedge Ineffectiveness Gain (Loss)	143	$ 59
Forward Contracts [Member]
Gain (Loss) on Foreign Currency Derivatives Recorded in Earnings, Net	1,384
Foreign Currency Cash Flow Hedge Asset at Fair Value	1,741	5,384
Interest Rate Fair Value Hedge Asset at Fair Value	$ 3,510	$ 3,395

Note 9 - Swaps Outstanding (Det

Note 9 - Swaps Outstanding (Details) $ in Thousands	3 Months Ended
	Feb. 27, 2016USD ($)
Cross Currency Interest Rate Contract [Member] | Currency Swap 1 [Member]
Fiscal Year of Expiration	2,017
Interest rate minimum	3.05%
Derivative, Notional Amount	$ 44,912
Foreign Currency Cash Flow Hedge Asset at Fair Value	$ 767
Interest rate maximum	3.9145%
Cross Currency Interest Rate Contract [Member] | Currency Swap 2 [Member]
Fiscal Year of Expiration	2,018
Interest rate minimum	3.45%
Derivative, Notional Amount	$ 44,912
Foreign Currency Cash Flow Hedge Asset at Fair Value	$ 568
Interest rate maximum	4.5374%
Cross Currency Interest Rate Contract [Member] | Currency Swap 3 [Member]
Fiscal Year of Expiration	2,019
Interest rate minimum	3.80%
Derivative, Notional Amount	$ 44,912
Foreign Currency Cash Flow Hedge Asset at Fair Value	$ 406
Interest rate maximum	5.053%
Cross Currency Interest Rate Contract [Member]
Derivative, Notional Amount	$ 134,736
Foreign Currency Cash Flow Hedge Asset at Fair Value	1,741
Foreign Currency Cash Flow Hedge Asset at Fair Value	$ 1,741

Note 10 - Asbestos Related Laws

Note 10 - Asbestos Related Lawsuits and Claims (Details) - Asbestos Related Lawsuits And Claims [Member] $ in Thousands	3 Months Ended		36 Months Ended
	Feb. 27, 2016USD ($)	Feb. 28, 2015USD ($)	Nov. 28, 2015USD ($)
Lawsuits and claims settled	2	1	25
Settlement amounts	$ 75	$ 50	$ 2,072
Insurance payments received or expected to be received	$ 56	$ 37	$ 1,648

Note 11 - Operating Segments (D

Note 11 - Operating Segments (Details Textual)	3 Months Ended	12 Months Ended
	Feb. 27, 2016	Nov. 28, 2015
Number of Reportable Segments	5	4

Note 11 - Reportable Operating

Note 11 - Reportable Operating Segment Financial Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Feb. 27, 2016	Feb. 28, 2015
Operating Segments [Member] | Americas Adhesives [Member]
Trade Revenue	$ 183,319	$ 194,073
Segment operating income	26,259	21,677
Operating Segments [Member] | EIMEA [Member]
Trade Revenue	124,291	134,115
Segment operating income	6,163	685
Operating Segments [Member] | Asia Pacific [Member]
Trade Revenue	53,860	55,343
Segment operating income	3,753	3,145
Operating Segments [Member] | Construction Products [Member]
Trade Revenue	60,074	58,456
Segment operating income	785	1,014
Operating Segments [Member] | Engineering Adhesives [Member]
Trade Revenue	52,782	28,674
Segment operating income	878	(5,148)
Operating Segments [Member]
Trade Revenue	474,326	470,661
Segment operating income	37,838	21,373
Intersegment Eliminations [Member] | Americas Adhesives [Member]
Trade Revenue	3,630	5,383
Intersegment Eliminations [Member] | EIMEA [Member]
Trade Revenue	5,271	4,551
Intersegment Eliminations [Member] | Asia Pacific [Member]
Trade Revenue	951	3,466
Intersegment Eliminations [Member] | Construction Products [Member]
Trade Revenue	104	176
Trade Revenue	474,326	470,661
Segment operating income	$ 37,838	$ 21,373

Note 11 - Reconciliation of Seg

Note 11 - Reconciliation of Segment Operating Income to Income from Continuing Operations Before Income Taxes and Income from Equity Method Investments (Details) - USD ($) $ in Thousands	3 Months Ended
	Feb. 27, 2016	Feb. 28, 2015
Segment operating income	$ 37,838	$ 21,373
Special charges, net	(413)	(2,361)
Other income (expense), net	(5,082)	363
Interest expense	(6,308)	(6,102)
Income before income taxes and income from equity method investments	$ 26,035	$ 13,273

Note 11 - Assets By Segment (De

Note 11 - Assets By Segment (Details) $ in Thousands	Nov. 28, 2015USD ($)
Americas Adhesives [Member] | Operating Segments [Member]
Assets	$ 436,526
EIMEA [Member] | Operating Segments [Member]
Assets	628,780
Asia Pacific [Member] | Operating Segments [Member]
Assets	213,025
Construction Products [Member] | Operating Segments [Member]
Assets	218,897
Engineering Adhesives [Member] | Operating Segments [Member]
Assets	387,206
Corporate, Non-Segment [Member]
Assets	157,818
Assets	$ 2,042,252

Note 12 - Income Taxes (Details

Note 12 - Income Taxes (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Feb. 27, 2016	Nov. 28, 2015
Unrecognized Tax Benefits	$ 5,124	$ 4,870
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued	667
Unrecognized Tax Benefits, Period Increase (Decrease)	$ 254

Note 13 - Goodwill and Other 64

Note 13 - Goodwill and Other Intangible Assets (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Feb. 27, 2016	Feb. 28, 2015
Amortization of Intangible Assets	$ 6,698	$ 6,148
Indefinite Lived Trademarks and Trade Names	$ 462

Note 13 - Goodwill By Segment (

Note 13 - Goodwill By Segment (Details) $ in Thousands	3 Months Ended
	Feb. 27, 2016USD ($)
Americas Adhesives [Member]
Goodwill	$ 59,706
Acquisition adjustment
Currency impact	$ (44)
Goodwill	59,662
EIMEA [Member]
Goodwill	$ 100,638
Acquisition adjustment
Currency impact	$ 2,154
Goodwill	102,792
Asia Pacific [Member]
Goodwill	$ 17,329
Acquisition adjustment
Currency impact	$ 143
Goodwill	17,472
Construction Products [Member]
Goodwill	$ 22,668
Acquisition adjustment
Currency impact	$ 35
Goodwill	22,703
Engineering Adhesives [Member]
Goodwill	153,863
Acquisition adjustment	700
Currency impact	(2,291)
Goodwill	152,272
Goodwill	354,204
Acquisition adjustment	700
Currency impact	(3)
Goodwill	$ 354,901

Note 13 - Amortizable Intangibl

Note 13 - Amortizable Intangible Assets (Details) $ in Thousands	Feb. 27, 2016USD ($)
Purchased Technology And Patents [Member]
Original cost	$ 69,813
Accumulated amortization	(19,618)
Net identifiable intangibles	50,195
Customer Relationships [Member]
Original cost	235,067
Accumulated amortization	(102,928)
Net identifiable intangibles	132,139
Other Intangible Assets [Member]
Original cost	49,578
Accumulated amortization	(25,971)
Net identifiable intangibles	23,607
Original cost	354,458
Accumulated amortization	(148,517)
Net identifiable intangibles	$ 205,941

Note 13 - Estimated Aggregate A

Note 13 - Estimated Aggregate Amortization Expense (Details) $ in Thousands	Feb. 27, 2016USD ($)
2,016	$ 18,721
2,017	25,057
2,018	24,664
2,019	22,740
2,020	21,769
Thereafter	$ 92,990

Note 14 - Fair Value Measurem68

Note 14 - Fair Value Measurements (Details Textual) - Tonsan Adhesive [Member] $ in Thousands	3 Months Ended
	Feb. 27, 2016USD ($)
Portion at Fair Value Measurement [Member]
Business Combination, Contingent Consideration, Liability	$ 11,644
Selling, General and Administrative Expenses [Member]
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability	$ 487

Note 14 - Fair Value Measurem69

Note 14 - Fair Value Measurements (Details) - USD ($) $ in Thousands	Feb. 27, 2016	Nov. 28, 2015
Fair Value, Inputs, Level 1 [Member]
Assets:
Marketable securities	$ 3,620	$ 1,698
Derivative assets
Interest Rate Fair Value Hedge Asset at Fair Value
Foreign Currency Cash Flow Hedge Asset at Fair Value
Liabilities:
Derivative liabilities
Contingent consideration liability
Fair Value, Inputs, Level 2 [Member]
Assets:
Marketable securities
Derivative assets	$ 3,527	$ 15,185
Interest Rate Fair Value Hedge Asset at Fair Value	3,510	3,395
Foreign Currency Cash Flow Hedge Asset at Fair Value	1,741	5,384
Liabilities:
Derivative liabilities	$ 2,143	$ 4,744
Contingent consideration liability
Fair Value, Inputs, Level 3 [Member]
Assets:
Marketable securities
Derivative assets
Interest Rate Fair Value Hedge Asset at Fair Value
Foreign Currency Cash Flow Hedge Asset at Fair Value
Liabilities:
Derivative liabilities
Contingent consideration liability	$ 11,794	$ 10,854
Marketable securities	3,620	1,698
Derivative assets	3,527	15,185
Interest Rate Fair Value Hedge Asset at Fair Value	3,510	3,395
Foreign Currency Cash Flow Hedge Asset at Fair Value	1,741	5,384
Derivative liabilities	2,143	4,744
Contingent consideration liability	$ 11,794	$ 10,854

Note 14 - Schedule of Contingen

Note 14 - Schedule of Contingent Consideration Liabilities (Details) - Fair Value, Inputs, Level 3 [Member] $ in Thousands	3 Months Ended
	Feb. 27, 2016USD ($)
Level 3 balance beginning of period	$ 10,854
Opening balance sheet adjustment	700
Mark to market adjustment	487
Foreign currency translation adjustment	(247)
Level 3 balance end of period	$ 11,794

Note 15 - Share Repurchase Pr71

Note 15 - Share Repurchase Program (Details Textual) - USD ($)	3 Months Ended		12 Months Ended
	Feb. 27, 2016	Feb. 28, 2015	Nov. 28, 2015	Sep. 30, 2010
2010 Share Repurchase Program [Member]
Stock Repurchased During Period, Value	$ 4,210,000	$ 0
Decreased Value of Common Stock Shares Repurchased	125,000	0
Decreased Value of Additional Paid in Capital for Shares Repurchased	4,085,000	$ 0
Stock Repurchase Program, Authorized Amount				$ 100,000,000
Stock Repurchased During Period, Value	$ 6,518,000		$ 19,290,000

Note 16 - Redeemable Non-Cont72

Note 16 - Redeemable Non-Controlling Interest (Details Textual) € in Millions	3 Months Ended
	Feb. 27, 2016EUR (€)
Noncontrolling Interest, Increase in Ownership Percentage Per Year	1.00%
Noncontrolling Interest, Number of Years Ownership can Be Increased	5 years
Noncontrolling Interest, Maximum Ownership Percentage by Noncontrolling Shareholder	13.00%
Redeemable Noncontrolling Interest, Equity, Minimum Redemption Value	€ 3.5
Redeemable Noncontrolling Interest, Equity, Redemption Value	€ 3.5

Note 16 - Redeemable Non-Cont73

Note 16 - Redeemable Non-Controlling Interests (Details) $ in Thousands	3 Months Ended
	Feb. 27, 2016USD ($)
Balance at beginning of period	$ 4,199
Net income (loss) attributed to redeemable non-controlling interest	41
Foreign currency translation adjustment	136
Balance at end of period	$ 4,376

Note 17 - Subsequent Event (Det

Note 17 - Subsequent Event (Details Textual) - Apr. 04, 2016 AUD in Millions, $ in Millions	AUD	USD ($)
Subsequent Event [Member] | Advanced Adhesives Pty Limited and Advance Adhesives (New Zealand) [Member]
Business Combination, Purchase Agreement Amount	AUD 12	$ 9