Levi Strauss & Co. (LEVI) 10-Q 10 Apr 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Feb. 25, 2018	Apr. 05, 2018
Document and Entity Information [Abstract]
Entity Registrant Name	LEVI STRAUSS & CO
Entity Central Index Key	94,845
Current Fiscal Year End Date	--11-25
Entity Filer Category	Non-accelerated Filer
Document Type	10-Q
Document Period End Date	Feb. 25, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		37,676,588
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Feb. 25, 2018	Nov. 26, 2017
Current Assets:
Cash and cash equivalents	$ 590,230	$ 633,622
Trade receivables, net of allowance for doubtful accounts of $11,282 and $11,726	428,469	485,485
Inventories:
Raw materials	3,437	3,858
Work-in-process	3,576	3,008
Finished goods	819,430	752,530
Total inventories	826,443	759,396
Other current assets	137,922	118,724
Total current assets	1,983,064	1,997,227
Property, plant and equipment, net of accumulated depreciation of $972,035 and $951,249	414,952	424,463
Goodwill	238,734	237,327
Other intangible assets, net	42,885	42,893
Deferred tax assets, net	413,486	537,923
Other non-current assets	125,188	118,005
Total assets	3,218,309	3,357,838
Current Liabilities:
Short-term debt	24,850	38,451
Accounts payable	305,219	289,505
Accrued salaries, wages and employee benefits	182,933	227,251
Restructuring liabilities	757	786
Accrued interest payable	17,076	6,327
Accrued income taxes	42,374	16,020
Other accrued liabilities	336,607	300,730
Total current liabilities	909,816	879,070
Long-term debt	1,062,355	1,038,860
Long-term capital leases	16,340	16,524
Postretirement medical benefits	86,551	89,248
Pension liability	247,501	314,525
Long-term employee related benefits	81,602	90,998
Long-term income tax liabilities	21,712	20,457
Other long-term liabilities	75,796	78,733
Total liabilities	2,501,673	2,528,415
Commitments and contingencies
Temporary equity	160,036	127,035
Levi Strauss & Co. stockholders’ equity
Common stock — $.01 par value; 270,000,000 shares authorized; 37,678,685 shares and 37,521,447 shares issued and outstanding	377	375
Accumulated other comprehensive loss	(399,214)	(404,381)
Retained earnings	949,315	1,100,916
Total Levi Strauss & Co. stockholders’ equity	550,478	696,910
Noncontrolling interest	6,122	5,478
Total stockholders’ equity	556,600	702,388
Total liabilities, temporary equity and stockholders’ equity	$ 3,218,309	$ 3,357,838

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Feb. 25, 2018	Nov. 26, 2017
ASSETS
Accumulated depreciation	$ 972,035	$ 951,249
Current Assets:
Allowance for doubtful accounts	$ 11,282	$ 11,726
Levi Strauss & Co. stockholders’ equity
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	270,000,000	270,000,000
Common stock, shares issued	37,678,685	37,521,447
Common stock, shares outstanding	37,678,685	37,521,447

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended
	Feb. 25, 2018	Feb. 26, 2017
Income Statement [Abstract]
Net revenues	$ 1,343,685	$ 1,101,991
Cost of goods sold	605,561	537,438
Gross profit	738,124	564,553
Selling, general and administrative expenses	564,025	456,213
Operating income	174,099	108,340
Interest expense	(15,497)	(19,934)
Other (expense) income, net	(9,577)	408
Income before income taxes	149,025	88,814
Income tax expense (benefit)	167,654	28,693
Net (loss) income	(18,629)	60,121
Net (income) loss attributable to noncontrolling interest	(383)	22
Net (loss) income attributable to Levi Strauss & Co.	$ (19,012)	$ 60,143

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Feb. 25, 2018	Feb. 26, 2017
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (18,629)	$ 60,121
Other comprehensive income (loss), before related income taxes:
Pension and postretirement benefits	3,360	3,691
Net investment hedge losses	(22,848)	0
Foreign currency translation gains	19,781	7,684
Unrealized gains on marketable securities	290	1,000
Total other comprehensive income, before related income taxes	583	12,375
Income taxes benefit (expense) related to items of other comprehensive income	4,846	(2,811)
Comprehensive (loss) income, net of income taxes	(13,200)	69,685
Comprehensive (income) loss attributable to noncontrolling interest	(644)	214
Comprehensive (loss) income attributable to Levi Strauss & Co.	$ (13,844)	$ 69,899

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Feb. 25, 2018	Feb. 26, 2017
Cash Flows from Operating Activities:
Net (loss) income	$ (18,629)	$ 60,121
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	32,821	27,386
Unrealized foreign exchange losses	10,022	5,373
Realized loss (gain) on settlement of forward foreign exchange contracts not designated for hedge accounting	10,303	(9,076)
Employee benefit plans’ amortization from accumulated other comprehensive loss and settlement loss	3,360	3,682
Stock-based compensation	5,256	2,350
Other, net	1,624	1,554
Provision for deferred income taxes	129,542	12,952
Change in operating assets and liabilities:
Trade receivables	59,497	69,935
Inventories	(61,867)	(53,432)
Other current assets	(16,100)	(1,961)
Other non-current assets	(3,405)	(2,928)
Accounts payable and other accrued liabilities	14,659	4,611
Restructuring liabilities	(44)	(2,652)
Income tax liabilities	26,194	4,780
Accrued salaries, wages and employee benefits and long-term employee related benefits	(126,939)	(72,555)
Other long-term liabilities	(124)	(1,091)
Net cash provided by operating activities	66,170	49,049
Cash Flows from Investing Activities:
Purchases of property, plant and equipment	(30,996)	(25,073)
(Payments) proceeds on settlement of forward foreign exchange contracts not designated for hedge accounting	(10,303)	9,076
Net cash used for investing activities	(41,299)	(15,997)
Cash Flows from Financing Activities:
Proceeds from short-term credit facilities	17,511	9,911
Repayments of short-term credit facilities	(16,944)	(7,774)
Other short-term borrowings, net	(14,537)	(8,288)
Repurchase of common stock, including shares surrendered for tax withholdings on equity award exercises	(14,844)	(193)
Dividend to stockholders	(45,000)	(35,000)
Other financing, net	(41)	(1,158)
Net cash used for financing activities	(73,855)	(42,502)
Effect of exchange rate changes on cash and cash equivalents	5,592	2,510
Net decrease in cash and cash equivalents	(43,392)	(6,940)
Beginning cash and cash equivalents	633,622	375,563
Ending cash and cash equivalents	590,230	368,623
Noncash Investing Activity:
Property, plant and equipment acquired and not yet paid at end of period	10,574	7,103
Property, plant and equipment additions due to build-to-suit lease transactions	723	0
Supplemental disclosure of cash flow information:
Cash paid for interest during the period	1,628	1,456
Cash paid for income taxes during the period, net of refunds	$ 11,939	$ 11,677

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
	Feb. 25, 2018
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	SIGNIFICANT ACCOUNTING POLICIES Nature of Operations Levi Strauss & Co. (the "Company") is one of the world’s largest brand-name apparel companies. The Company designs, markets and sells – directly or through third parties and licensees – products that include jeans, casual and dress pants, tops, shorts, skirts, jackets, footwear and related accessories for men, women and children around the world under the Levi’s ® , Dockers ® , Signature by Levi Strauss & Co.™ and Denizen ® brands. The Company operates its business through three geographic regions: Americas, Europe and Asia. Basis of Presentation and Principles of Consolidation The unaudited consolidated financial statements of the Company and its wholly-owned and majority-owned foreign and domestic subsidiaries are prepared in conformity with generally accepted accounting principles in the United States ("U.S. GAAP") for interim financial information. In the opinion of management, all adjustments necessary for a fair statement of the financial position and the results of operations for the periods presented have been included. These unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements of the Company for the year ended November 26, 2017 , included in the Annual Report on Form 10-K filed with the Securities and Exchange Commission ("SEC") on February 7, 2018. The unaudited consolidated financial statements include the accounts of the Company and its subsidiaries. All significant intercompany transactions have been eliminated. Management believes the disclosures are adequate to make the information presented herein not misleading. The results of operations for the three months ended February 25, 2018 may not be indicative of the results to be expected for any other interim period or the year ending November 25, 2018 . The Company’s fiscal year ends on the last Sunday of November in each year, although the fiscal years of certain foreign subsidiaries end on November 30. Each quarter of both fiscal years 2018 and 2017 consists of 13 weeks. All references to years relate to fiscal years rather than calendar years. Subsequent events have been evaluated through the issuance date of these financial statements. Certain insignificant amounts on the Consolidated Balance Sheets and Consolidated Statements of Cash Flows have been conformed to the February 25, 2018 presentation. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and the related notes to the consolidated financial statements. Estimates are based upon historical factors, current circumstances and the experience and judgment of the Company’s management. Management evaluates its estimates and assumptions on an ongoing basis and may employ outside experts to assist in its evaluations. Changes in such estimates, based on more accurate future information, or different assumptions or conditions, may affect amounts reported in future periods. Recently Issued Accounting Standards There have been no developments to recently issued accounting standards, including the expected dates of adoption and estimated effects on the Company’s consolidated financial statements and footnote disclosures, from those disclosed in the Company’s 2017 Annual Report on Form 10-K, except for the following, which have been grouped by their effective dates for the Company: First Quarter of 2019 • In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) . ASU 2014-09 outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance. The updated guidance, and subsequent clarifications, require an entity to recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration they expect to receive in exchange for those goods or services. In addition, the guidance requires disclosure of the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. The Company is in the process of evaluating the new standard against its existing accounting policies to determine the effect the guidance will have on its consolidated financial statements. Based on the assessment to date, the Company believes that some of the potential impacts of implementing this standard will be that allowances for estimated returns, discounts and retailer promotions and other similar incentives will be presented as other accrued liabilities rather than netted within accounts receivable and the estimated cost of inventory associated with allowances for estimated returns will be included as other current assets rather than inventories. The Company continues to assess the new standard, including the impact on processes, disclosures and internal control over financial reporting. First Quarter of 2020 • In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) which requires the identification of arrangements that should be accounted for as leases by lessees. In general, for operating or financing lease arrangements exceeding a twelve month term, a right-of-use asset and a lease obligation will be recognized on the balance sheet of the lessee while the income statement will reflect lease expense for operating leases and amortization and interest expense for financing leases. The Company is in the process of gathering information to evaluate real estate, personal property, and other arrangements that may meet the definition of a lease. Given the significant number of leases, the Company anticipates the new guidance will have a material impact on the consolidated balance sheets. • In February 2018, the FASB issued ASU 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220) . ASU 2018-02 addresses the effect of the change in the U.S. federal corporate tax rate due to the enactment of the December 22, 2017 Tax Cuts and Jobs Act (the "Tax Act") on items within accumulated other comprehensive income (loss). The guidance will be effective for the Company in the first quarter of fiscal 2020 with early adoption permitted. The Company is currently assessing the impact that adopting this new accounting standard will have on its consolidated financial statements.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Feb. 25, 2018
Fair Value Disclosures [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	FAIR VALUE OF FINANCIAL INSTRUMENTS The following table presents the Company’s financial instruments that are carried at fair value: February 25, 2018 November 26, 2017 Fair Value Estimated Using Fair Value Estimated Using Fair Value Level 1 Inputs (1) Level 2 Inputs (2) Fair Value Level 1 Inputs (1) Level 2 Inputs (2) (Dollars in thousands) Financial assets carried at fair value Rabbi trust assets $ 31,857 $ 31,857 $ — $ 31,139 $ 31,139 $ — Forward foreign exchange contracts (3) 9,875 — 9,875 6,296 — 6,296 Total $ 41,732 $ 31,857 $ 9,875 $ 37,435 $ 31,139 $ 6,296 Financial liabilities carried at fair value Forward foreign exchange contracts (3) $ 33,148 $ — $ 33,148 $ 23,799 $ — $ 23,799 _____________ (1) Fair values estimated using Level 1 inputs are inputs which consist of quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Rabbi trust assets consist of a diversified portfolio of equity, fixed income and other securities. (2) Fair values estimated using Level 2 inputs are inputs, other than quoted prices, that are observable for the asset or liability, either directly or indirectly and include among other things, quoted prices for similar assets or liabilities in markets that are active or inactive as well as inputs other than quoted prices that are observable. For forward foreign exchange contracts, inputs include foreign currency exchange and interest rates and, where applicable, credit default swap prices. (3) The Company’s over-the-counter forward foreign exchange contracts are subject to International Swaps and Derivatives Association, Inc. master agreements. These agreements permit the net settlement of these contracts on a per-institution basis. Effective as of the first quarter of 2018, the Company recorded and presented the fair values of derivative over-the-counter forward foreign exchange contracts on a gross basis in its consolidated balance sheets, including those subject to master netting arrangements. The comparative period was revised to reflect the change from a net basis to a gross basis. The following table presents the carrying value, including related accrued interest, and estimated fair value of the Company’s financial instruments that are carried at adjusted historical cost: February 25, 2018 November 26, 2017 Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value (Dollars in thousands) Financial liabilities carried at adjusted historical cost 5.00% senior notes due 2025 (1) $ 492,071 $ 501,754 $ 485,419 $ 507,185 3.375% senior notes due 2027 (1) 586,855 606,369 559,037 590,266 Short-term borrowings 25,181 25,181 38,727 38,727 Total $ 1,104,107 $ 1,133,304 $ 1,083,183 $ 1,136,178 _____________ (1) Fair values are estimated using Level 1 inputs and incorporate mid-market price quotes. Level 1 inputs are inputs which consist of quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date.

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	3 Months Ended
	Feb. 25, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES As of February 25, 2018 , the Company had forward foreign exchange contracts to buy $681.6 million and to sell $250.7 million against various foreign currencies. These contracts are at various exchange rates and expire at various dates through May 2019 . Effective as of the first quarter of 2018, the Company recorded and presented the fair value of its derivative assets and liabilities on a gross basis in the consolidated balance sheets based on contractual maturity dates, including those subject to master netting arrangements. The comparative period was revised to reflect the change from a net basis to a gross basis. The table below provides data about the carrying values of derivative instruments and non-derivative instruments: February 25, 2018 November 26, 2017 Assets (Liabilities) Derivative Net Carrying Value Assets (Liabilities) Derivative Net Carrying Value Carrying Value Carrying Value Carrying Value Carrying Value (Dollars in thousands) Derivatives not designated as hedging instruments Forward foreign exchange contracts (1) $ 9,875 $ — $ 9,875 $ 6,296 $ — $ 6,296 Forward foreign exchange contracts (2) — (33,148 ) (33,148 ) — (23,799 ) (23,799 ) Total $ 9,875 $ (33,148 ) $ 6,296 $ (23,799 ) Non-derivatives designated as hedging instruments Euro senior notes $ — $ (585,628 ) $ — $ (562,780 ) _____________ (1) Included in "Other current assets" or "Other non-current assets" on the Company’s consolidated balance sheets. (2) Included in "Other accrued liabilities" or "Other long-term liabilities" on the Company’s consolidated balance sheets. The Company's over-the-counter forward foreign exchange contracts are subject to International Swaps and Derivatives Association, Inc. master agreements. These agreements permit the net settlement of these contracts on a per-institution basis; however, the Company records the fair value on a gross basis on its consolidated balance sheets based on maturity dates, including those subject to master netting arrangements. The table below presents the gross and net amounts of these contracts recognized on the Company's consolidated balance sheets by type of financial instrument: February 25, 2018 November 26, 2017 Gross Amounts of Assets / (Liabilities) Presented in the Balance Sheet Gross Amounts Not Offset in the Balance Sheet Net Amounts of Assets / (Liabilities) Gross Amounts of Assets / (Liabilities) Presented in the Balance Sheet Gross Amounts Not Offset in the Balance Sheet Net Amounts of Assets / (Liabilities) (Dollars in thousands) Over-the-counter forward foreign exchange contracts Financial assets $ 5,760 $ (5,760 ) $ — $ 3,218 $ (3,146 ) $ 72 Financial liabilities (30,747 ) 5,760 (24,987 ) (20,876 ) 3,146 (17,730 ) Total $ (24,987 ) $ (17,658 ) Embedded derivative contracts Financial assets $ 4,115 $ — $ 4,115 $ 3,078 $ — $ 3,078 Financial liabilities (2,401 ) — (2,401 ) (2,923 ) — (2,923 ) Total $ 1,714 $ 155 The table below provides data about the amount of gains and losses related to derivative instruments and non-derivative instruments designated as net investment hedges included in "Accumulated other comprehensive loss" ("AOCI") on the Company’s consolidated balance sheets, and in "Other income (expense), net" in the Company's consolidated statements of income: Gain or (Loss) Recognized in AOCI (Effective Portion) Gain or (Loss) Recognized in Other Income (Expense), Net (Ineffective Portion and Amount Excluded from Effectiveness Testing) As of As of Three Months Ended February 25, November 26, February 25, February 26, (Dollars in thousands) Forward foreign exchange contracts $ 4,637 $ 4,637 Yen-denominated Eurobonds (19,811 ) (19,811 ) $ — $ — Euro-denominated senior notes (98,544 ) (75,697 ) — — Cumulative income taxes 41,304 35,253 Total $ (72,414 ) $ (55,618 ) The table below provides data about the amount of gains and losses related to derivatives not designated as hedging instruments included in "Other income (expense), net" in the Company's consolidated statements of income: Three Months Ended February 25, February 26, (Dollars in thousands) Forward foreign exchange contracts: Realized (loss) gain $ (10,303 ) $ 9,076 Unrealized loss (5,784 ) (19,320 ) Total $ (16,087 ) $ (10,244 )

Debt

Debt	3 Months Ended
	Feb. 25, 2018
Debt Disclosure [Abstract]
DEBT	DEBT The following table presents the Company's debt: February 25, November 26, (Dollars in thousands) Long-term debt 5.00% senior notes due 2025 $ 484,154 $ 483,683 3.375% senior notes due 2027 578,201 555,177 Total long-term debt $ 1,062,355 $ 1,038,860 Short-term debt Short-term borrowings $ 24,850 $ 38,451 Total debt $ 1,087,205 $ 1,077,311 Senior Revolving Credit Facility The C ompany's unused availability under its senior secured revolving credit facility was $744.6 million at February 25, 2018 , as the Company's total availability of $789.5 million was reduced by $44.9 million of letters of credit and other credit usage allocated under the credit facility. Interest Rates on Borrowings The Company’s weighted-average interest rate on average borrowings outstanding during the three months ended February 25, 2018 was 4.77% , as compared to 6.67% in the same period of 2017 .

Employee Benefit Plans

Employee Benefit Plans	3 Months Ended
	Feb. 25, 2018
Retirement Benefits [Abstract]
EMPLOYEE BENEFIT PLANS	EMPLOYEE BENEFIT PLANS The following table summarizes the total net periodic benefit cost for the Company's defined pension plans and postretirement benefit plans: Three Months Ended February 25, February 26, (Dollars in thousands) Net periodic benefit cost: Pension Benefits $ 849 $ 2,892 Postretirement Benefits 926 1,148 Net periodic benefit cost $ 1,775 $ 4,040

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Feb. 25, 2018
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Forward Foreign Exchange Contracts The Company uses over-the-counter derivative instruments to manage its exposure to foreign currencies. The Company is exposed to credit loss in the event of nonperformance by the counterparties to the forward foreign exchange contracts. However, the Company believes that its exposures are appropriately diversified across counterparties and that these counterparties are creditworthy financial institutions. See Note 3 for additional information. Other Contingencies Litigation. In the ordinary course of business, the Company has various pending cases involving contractual matters, facility and employee-related matters, distribution matters, product liability claims, trademark infringement and other matters. The Company does not believe any of these pending legal proceedings will have a material impact on its financial condition, results of operations or cash flows. Customs Duty Audits. The Company imports both raw materials and finished garments into all of the operating regions and as such, is subject to numerous countries complex customs laws and regulations with respect to our import and export activity. The Company is currently undergoing audit assessments and the related legal appeal processes with various customs authorities. While the Company is vigorously defending its position and does not believe any of the claims for customs duty and related charges have merit, the ultimate resolution of these assessments and legal proceedings are subject to risk and uncertainty.

Dividend

Dividend	3 Months Ended
	Feb. 25, 2018
Dividends [Abstract]
DIVIDEND	DIVIDEND In the first quarter of 2018, the Company's Board of Directors declared a cash dividend of $90 million , payable in two $45 million installments. The Company paid the first installment in the first quarter of 2018 . The second installment of $45 million is expected to be paid in the fourth quarter of 2018 based on the holders of record on October 5, 2018, and was recorded in "Other accrued liabilities" in the Company's consolidated balance sheets. The Company does not have an established dividend policy. The Company will continue to review its ability to pay cash dividends at least annually, and dividends may be declared at the discretion of the Company's Board of Directors depending upon, among other factors, the Company's financial condition and compliance with the terms of the Company's debt agreements.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	3 Months Ended
	Feb. 25, 2018
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE LOSS	ACCUMULATED OTHER COMPREHENSIVE LOSS The following is a summary of the components of "Accumulated other comprehensive loss," net of related income taxes: February 25, November 26, (Dollars in thousands) Pension and postretirement benefits $ (229,722 ) $ (232,181 ) Net investment hedge losses (72,414 ) (55,618 ) Foreign currency translation losses (91,539 ) (111,092 ) Unrealized gains on marketable securities 4,261 4,048 Accumulated other comprehensive loss (389,414 ) (394,843 ) Accumulated other comprehensive income attributable to noncontrolling interest 9,800 9,538 Accumulated other comprehensive loss attributable to Levi Strauss & Co. $ (399,214 ) $ (404,381 ) No material amounts were reclassified out of "Accumulated other comprehensive loss" into net income other than insignificant amounts that pertain to the Company's pension and postretirement benefit plans. These amounts are included in "Selling, general and administrative expenses" in the Company's consolidated statements of income.

Other Income (Expense), Net

Other Income (Expense), Net	3 Months Ended
	Feb. 25, 2018
Other Income and Expenses [Abstract]
OTHER INCOME (EXPENSE), NET	OTHER INCOME (EXPENSE), NET The following table summarizes significant components of "Other income (expense), net": Three Months Ended February 25, February 26, (Dollars in thousands) Foreign exchange management losses (1) $ (16,087 ) $ (10,244 ) Foreign currency transaction gains (2) 3,317 9,676 Interest income 2,429 617 Investment income 428 353 Other, net 336 6 Total other (expense) income, net $ (9,577 ) $ 408 _____________ (1) Gains and losses on forward foreign exchange contracts primarily result from currency fluctuations relative to negotiated contract rates. Losses in the three-month period ended February 25, 2018 were primarily due to unfavorable currency fluctuations relative to negotiated contract rates on positions to sell the Euro and the British Pound. Losses in the three-month period ended February 26, 2017 were primarily due to unfavorable currency fluctuations relative to negotiated contract rates on positions to sell the Mexican Peso. (2) Foreign currency transaction gains and losses reflect the impact of foreign currency fluctuation on the Company's foreign currency denominated balances. Gains in the three-month period ended February 25, 2018 were primarily due to the strengthening of the Euro against the US dollar. Gains in the three-month period ended February 26, 2017 were primarily due to the strengthening of the Mexican Peso and Euro against the US dollar.

Income Taxes

Income Taxes	3 Months Ended
	Feb. 25, 2018
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES On December 22, 2017, the Tax Act was enacted in the U.S. This U.S. tax reform introduced many changes, including lowering the U.S. corporate tax rate to 21 percent, changes in incentives, provisions to prevent U.S. base erosion and significant changes in the taxation of international income, including provisions which allow for the repatriation of foreign earnings without U.S. tax. By operation of tax law, the Company will apply a blended U.S. statutory federal income tax rate of 22.4% for fiscal year 2018 based on the pro rata number of days in the fiscal year before and after the effective date of the Tax Act. The enactment of U.S. tax reform resulted in a provisional charge of $136 million to tax expense in the first-quarter of fiscal year 2018. This charge was primarily comprised of a $99 million re-measurement of the Company's deferred tax assets and liabilities based on the lower rates at which they are expected to reverse in the future as well as a $37 million one-time U.S. transition tax on undistributed foreign earnings. The provisions in the Tax Act are complex and broad. All components of the provisional charge of $136 million are based on the Company’s estimates as of February 25, 2018. Specifically, the transition tax and the re-measurement of deferred tax balances are provisional and have been calculated based on existing tax law and the best information available as of February 25, 2018. The final impact of U.S. tax reform may differ, possibly materially, due to factors such as changes in interpretations of the Tax Act, any legislative action to address uncertainties that arise because of the Tax Act, changes to estimates the Company has utilized to calculate the provisional impacts, and additional guidance that may be issued by the U.S. government, among other items. As these various factors are finalized, any change will be recorded as an adjustment to the provision for income taxes in the period the amounts are determined during a measurement period granted by the Securities and Exchange Commission of up to one year after the enactment date of the Tax Act to finalize the accounting of the related income tax impacts, not to exceed 12 months from the date of U.S. tax reform enactment. In addition, the Company is still evaluating the Global Intangible Low Tax Income ("GILTI") provisions of the Tax Act and their impact, if any, on the consolidated financial statements beginning fiscal year 2019, including whether the Company adopts an accounting policy to treat such taxes as a current-period expense when incurred or whether such amounts should be factored into the Company's measurement of deferred taxes. As a result, the Company has not included an estimate of the tax expense related to this item as of February 25, 2018. The effective income tax rate was 112.5% for the three months ended February 25, 2018 , compared to 32.3% for the same period ended February 26, 2017 . The increase in the effective tax rate in 2018 as compared to 2017 was driven by a 91% one-time tax charge related to the impact of U.S. tax reform described above, partially offset by a 4.4% discrete tax benefit recognized in the quarter attributable to excess tax benefits on equity compensation.

Related Parties

Related Parties	3 Months Ended
	Feb. 25, 2018
Related Party Transactions [Abstract]
RELATED PARTIES	RELATED PARTIES Charles V. Bergh, President and Chief Executive Officer, Peter E. Haas Jr., a director of the Company, and Kelly McGinnis, Senior Vice President of Corporate Affairs and Chief Communications Officer, and Elizabeth O'Neill, Senior Vice President and Chief Supply Chain Officer, are board members of the Levi Strauss Foundation, which is not a consolidated entity of the Company. Seth R. Jaffe, Executive Vice President and General Counsel, is Vice President of the Levi Strauss Foundation. During the three-month period ended February 25, 2018 , the Company donated $6.5 million to the Levi Strauss Foundation as compared to $6.3 million for the same prior-year period.

Business Segment Information

Business Segment Information	3 Months Ended
	Feb. 25, 2018
Segment Reporting [Abstract]
BUSINESS SEGMENT INFORMATION	BUSINESS SEGMENT INFORMATION The Company manages its business according to three regional segments: the Americas, Europe and Asia. The Company considers its chief executive officer to be the Company’s chief operating decision maker. The Company’s chief operating decision maker manages business operations, evaluates performance and allocates resources based on the regional segments’ net revenues and operating income. Business segment information for the Company is as follows: Three Months Ended February 25, February 26, (Dollars in thousands) Net revenues: Americas $ 657,197 $ 577,907 Europe 452,722 310,317 Asia 233,766 213,767 Total net revenues $ 1,343,685 $ 1,101,991 Operating income: Americas $ 111,245 $ 90,342 Europe 115,286 64,539 Asia 40,709 35,941 Regional operating income 267,240 190,822 Corporate: Other corporate staff costs and expenses 93,141 82,482 Corporate expenses 93,141 82,482 Total operating income 174,099 108,340 Interest expense (15,497 ) (19,934 ) Other (expense) income, net (9,577 ) 408 Income before income taxes $ 149,025 $ 88,814

Significant Accounting Polici19

Significant Accounting Policies (Policies)	3 Months Ended
	Feb. 25, 2018
Accounting Policies [Abstract]
Basis of accounting	The unaudited consolidated financial statements of the Company and its wholly-owned and majority-owned foreign and domestic subsidiaries are prepared in conformity with generally accepted accounting principles in the United States ("U.S. GAAP") for interim financial information.
Consolidated entities policy	The unaudited consolidated financial statements include the accounts of the Company and its subsidiaries. All significant intercompany transactions have been eliminated.
Fiscal period	The Company’s fiscal year ends on the last Sunday of November in each year, although the fiscal years of certain foreign subsidiaries end on November 30. Each quarter of both fiscal years 2018 and 2017 consists of 13 weeks. All references to years relate to fiscal years rather than calendar years.
Subsequent events	Subsequent events have been evaluated through the issuance date of these financial statements.
Use of estimates	The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and the related notes to the consolidated financial statements. Estimates are based upon historical factors, current circumstances and the experience and judgment of the Company’s management. Management evaluates its estimates and assumptions on an ongoing basis and may employ outside experts to assist in its evaluations. Changes in such estimates, based on more accurate future information, or different assumptions or conditions, may affect amounts reported in future periods.
New accounting pronouncements	There have been no developments to recently issued accounting standards, including the expected dates of adoption and estimated effects on the Company’s consolidated financial statements and footnote disclosures, from those disclosed in the Company’s 2017 Annual Report on Form 10-K, except for the following, which have been grouped by their effective dates for the Company: First Quarter of 2019 • In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) . ASU 2014-09 outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance. The updated guidance, and subsequent clarifications, require an entity to recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration they expect to receive in exchange for those goods or services. In addition, the guidance requires disclosure of the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. The Company is in the process of evaluating the new standard against its existing accounting policies to determine the effect the guidance will have on its consolidated financial statements. Based on the assessment to date, the Company believes that some of the potential impacts of implementing this standard will be that allowances for estimated returns, discounts and retailer promotions and other similar incentives will be presented as other accrued liabilities rather than netted within accounts receivable and the estimated cost of inventory associated with allowances for estimated returns will be included as other current assets rather than inventories. The Company continues to assess the new standard, including the impact on processes, disclosures and internal control over financial reporting. First Quarter of 2020 • In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) which requires the identification of arrangements that should be accounted for as leases by lessees. In general, for operating or financing lease arrangements exceeding a twelve month term, a right-of-use asset and a lease obligation will be recognized on the balance sheet of the lessee while the income statement will reflect lease expense for operating leases and amortization and interest expense for financing leases. The Company is in the process of gathering information to evaluate real estate, personal property, and other arrangements that may meet the definition of a lease. Given the significant number of leases, the Company anticipates the new guidance will have a material impact on the consolidated balance sheets. • In February 2018, the FASB issued ASU 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220) . ASU 2018-02 addresses the effect of the change in the U.S. federal corporate tax rate due to the enactment of the December 22, 2017 Tax Cuts and Jobs Act (the "Tax Act") on items within accumulated other comprehensive income (loss). The guidance will be effective for the Company in the first quarter of fiscal 2020 with early adoption permitted. The Company is currently assessing the impact that adopting this new accounting standard will have on its consolidated financial statements.

Fair Value of Financial Instr20

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Feb. 25, 2018
Fair Value Disclosures [Abstract]
Financial assets and liabilities carried at fair value	The following table presents the Company’s financial instruments that are carried at fair value: February 25, 2018 November 26, 2017 Fair Value Estimated Using Fair Value Estimated Using Fair Value Level 1 Inputs (1) Level 2 Inputs (2) Fair Value Level 1 Inputs (1) Level 2 Inputs (2) (Dollars in thousands) Financial assets carried at fair value Rabbi trust assets $ 31,857 $ 31,857 $ — $ 31,139 $ 31,139 $ — Forward foreign exchange contracts (3) 9,875 — 9,875 6,296 — 6,296 Total $ 41,732 $ 31,857 $ 9,875 $ 37,435 $ 31,139 $ 6,296 Financial liabilities carried at fair value Forward foreign exchange contracts (3) $ 33,148 $ — $ 33,148 $ 23,799 $ — $ 23,799 _____________ (1) Fair values estimated using Level 1 inputs are inputs which consist of quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Rabbi trust assets consist of a diversified portfolio of equity, fixed income and other securities. (2) Fair values estimated using Level 2 inputs are inputs, other than quoted prices, that are observable for the asset or liability, either directly or indirectly and include among other things, quoted prices for similar assets or liabilities in markets that are active or inactive as well as inputs other than quoted prices that are observable. For forward foreign exchange contracts, inputs include foreign currency exchange and interest rates and, where applicable, credit default swap prices. (3) The Company’s over-the-counter forward foreign exchange contracts are subject to International Swaps and Derivatives Association, Inc. master agreements. These agreements permit the net settlement of these contracts on a per-institution basis. Effective as of the first quarter of 2018, the Company recorded and presented the fair values of derivative over-the-counter forward foreign exchange contracts on a gross basis in its consolidated balance sheets, including those subject to master netting arrangements. The comparative period was revised to reflect the change from a net basis to a gross basis.
Financial liabilities carried at adjusted historical cost	The following table presents the carrying value, including related accrued interest, and estimated fair value of the Company’s financial instruments that are carried at adjusted historical cost: February 25, 2018 November 26, 2017 Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value (Dollars in thousands) Financial liabilities carried at adjusted historical cost 5.00% senior notes due 2025 (1) $ 492,071 $ 501,754 $ 485,419 $ 507,185 3.375% senior notes due 2027 (1) 586,855 606,369 559,037 590,266 Short-term borrowings 25,181 25,181 38,727 38,727 Total $ 1,104,107 $ 1,133,304 $ 1,083,183 $ 1,136,178 _____________ (1) Fair values are estimated using Level 1 inputs and incorporate mid-market price quotes. Level 1 inputs are inputs which consist of quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date.

Derivative Instruments and He21

Derivative Instruments and Hedging Activities (Tables)	3 Months Ended
	Feb. 25, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Carrying values of derivative instruments and non-derivative instruments	The table below provides data about the carrying values of derivative instruments and non-derivative instruments: February 25, 2018 November 26, 2017 Assets (Liabilities) Derivative Net Carrying Value Assets (Liabilities) Derivative Net Carrying Value Carrying Value Carrying Value Carrying Value Carrying Value (Dollars in thousands) Derivatives not designated as hedging instruments Forward foreign exchange contracts (1) $ 9,875 $ — $ 9,875 $ 6,296 $ — $ 6,296 Forward foreign exchange contracts (2) — (33,148 ) (33,148 ) — (23,799 ) (23,799 ) Total $ 9,875 $ (33,148 ) $ 6,296 $ (23,799 ) Non-derivatives designated as hedging instruments Euro senior notes $ — $ (585,628 ) $ — $ (562,780 ) _____________ (1) Included in "Other current assets" or "Other non-current assets" on the Company’s consolidated balance sheets. (2) Included in "Other accrued liabilities" or "Other long-term liabilities" on the Company’s consolidated balance sheets.
Offsetting assets and liabilities	The Company's over-the-counter forward foreign exchange contracts are subject to International Swaps and Derivatives Association, Inc. master agreements. These agreements permit the net settlement of these contracts on a per-institution basis; however, the Company records the fair value on a gross basis on its consolidated balance sheets based on maturity dates, including those subject to master netting arrangements. The table below presents the gross and net amounts of these contracts recognized on the Company's consolidated balance sheets by type of financial instrument: February 25, 2018 November 26, 2017 Gross Amounts of Assets / (Liabilities) Presented in the Balance Sheet Gross Amounts Not Offset in the Balance Sheet Net Amounts of Assets / (Liabilities) Gross Amounts of Assets / (Liabilities) Presented in the Balance Sheet Gross Amounts Not Offset in the Balance Sheet Net Amounts of Assets / (Liabilities) (Dollars in thousands) Over-the-counter forward foreign exchange contracts Financial assets $ 5,760 $ (5,760 ) $ — $ 3,218 $ (3,146 ) $ 72 Financial liabilities (30,747 ) 5,760 (24,987 ) (20,876 ) 3,146 (17,730 ) Total $ (24,987 ) $ (17,658 ) Embedded derivative contracts Financial assets $ 4,115 $ — $ 4,115 $ 3,078 $ — $ 3,078 Financial liabilities (2,401 ) — (2,401 ) (2,923 ) — (2,923 ) Total $ 1,714 $ 155
Gains and losses included in AOCI	The table below provides data about the amount of gains and losses related to derivative instruments and non-derivative instruments designated as net investment hedges included in "Accumulated other comprehensive loss" ("AOCI") on the Company’s consolidated balance sheets, and in "Other income (expense), net" in the Company's consolidated statements of income: Gain or (Loss) Recognized in AOCI (Effective Portion) Gain or (Loss) Recognized in Other Income (Expense), Net (Ineffective Portion and Amount Excluded from Effectiveness Testing) As of As of Three Months Ended February 25, November 26, February 25, February 26, (Dollars in thousands) Forward foreign exchange contracts $ 4,637 $ 4,637 Yen-denominated Eurobonds (19,811 ) (19,811 ) $ — $ — Euro-denominated senior notes (98,544 ) (75,697 ) — — Cumulative income taxes 41,304 35,253 Total $ (72,414 ) $ (55,618 )
Gains and losses included in statements of income	The table below provides data about the amount of gains and losses related to derivatives not designated as hedging instruments included in "Other income (expense), net" in the Company's consolidated statements of income: Three Months Ended February 25, February 26, (Dollars in thousands) Forward foreign exchange contracts: Realized (loss) gain $ (10,303 ) $ 9,076 Unrealized loss (5,784 ) (19,320 ) Total $ (16,087 ) $ (10,244 )

Debt (Tables)

Debt (Tables)	3 Months Ended
	Feb. 25, 2018
Debt Disclosure [Abstract]
Schedule of long-term and short-term debt instruments	The following table presents the Company's debt: February 25, November 26, (Dollars in thousands) Long-term debt 5.00% senior notes due 2025 $ 484,154 $ 483,683 3.375% senior notes due 2027 578,201 555,177 Total long-term debt $ 1,062,355 $ 1,038,860 Short-term debt Short-term borrowings $ 24,850 $ 38,451 Total debt $ 1,087,205 $ 1,077,311

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	3 Months Ended
	Feb. 25, 2018
Retirement Benefits [Abstract]
Schedule of defined benefit plans disclosures	The following table summarizes the total net periodic benefit cost for the Company's defined pension plans and postretirement benefit plans: Three Months Ended February 25, February 26, (Dollars in thousands) Net periodic benefit cost: Pension Benefits $ 849 $ 2,892 Postretirement Benefits 926 1,148 Net periodic benefit cost $ 1,775 $ 4,040

Accumulated Other Comprehensi24

Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Feb. 25, 2018
Equity [Abstract]
Schedule of accumulated other comprehensive loss	The following is a summary of the components of "Accumulated other comprehensive loss," net of related income taxes: February 25, November 26, (Dollars in thousands) Pension and postretirement benefits $ (229,722 ) $ (232,181 ) Net investment hedge losses (72,414 ) (55,618 ) Foreign currency translation losses (91,539 ) (111,092 ) Unrealized gains on marketable securities 4,261 4,048 Accumulated other comprehensive loss (389,414 ) (394,843 ) Accumulated other comprehensive income attributable to noncontrolling interest 9,800 9,538 Accumulated other comprehensive loss attributable to Levi Strauss & Co. $ (399,214 ) $ (404,381 )

Other Income (Expense), Net (Ta

Other Income (Expense), Net (Tables)	3 Months Ended
	Feb. 25, 2018
Other Income and Expenses [Abstract]
Schedule of other nonoperating income (expense)	The following table summarizes significant components of "Other income (expense), net": Three Months Ended February 25, February 26, (Dollars in thousands) Foreign exchange management losses (1) $ (16,087 ) $ (10,244 ) Foreign currency transaction gains (2) 3,317 9,676 Interest income 2,429 617 Investment income 428 353 Other, net 336 6 Total other (expense) income, net $ (9,577 ) $ 408 _____________ (1) Gains and losses on forward foreign exchange contracts primarily result from currency fluctuations relative to negotiated contract rates. Losses in the three-month period ended February 25, 2018 were primarily due to unfavorable currency fluctuations relative to negotiated contract rates on positions to sell the Euro and the British Pound. Losses in the three-month period ended February 26, 2017 were primarily due to unfavorable currency fluctuations relative to negotiated contract rates on positions to sell the Mexican Peso. (2) Foreign currency transaction gains and losses reflect the impact of foreign currency fluctuation on the Company's foreign currency denominated balances. Gains in the three-month period ended February 25, 2018 were primarily due to the strengthening of the Euro against the US dollar. Gains in the three-month period ended February 26, 2017 were primarily due to the strengthening of the Mexican Peso and Euro against the US dollar.

Business Segment Information (T

Business Segment Information (Tables)	3 Months Ended
	Feb. 25, 2018
Segment Reporting [Abstract]
Reconciliation of Operating Profit (Loss) from Segments to Consolidated	Business segment information for the Company is as follows: Three Months Ended February 25, February 26, (Dollars in thousands) Net revenues: Americas $ 657,197 $ 577,907 Europe 452,722 310,317 Asia 233,766 213,767 Total net revenues $ 1,343,685 $ 1,101,991 Operating income: Americas $ 111,245 $ 90,342 Europe 115,286 64,539 Asia 40,709 35,941 Regional operating income 267,240 190,822 Corporate: Other corporate staff costs and expenses 93,141 82,482 Corporate expenses 93,141 82,482 Total operating income 174,099 108,340 Interest expense (15,497 ) (19,934 ) Other (expense) income, net (9,577 ) 408 Income before income taxes $ 149,025 $ 88,814

Significant Accounting Polici27

Significant Accounting Policies Significant Accounting Policies (Details) $ in Thousands	3 Months Ended
	Feb. 25, 2018USD ($)regionRegional_Segments	Feb. 26, 2017USD ($)
Accounting Policies [Abstract]
Number of operating segments | Regional_Segments	3
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Number of geographical regions | region	3
Selling, general and administrative expenses	$ 564,025	$ 456,213
Net income	$ (19,012)	$ 60,143

Fair Value of Financial Instr28

Fair Value of Financial Instruments-Fair Value (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands		Feb. 25, 2018	Nov. 26, 2017
Financial assets carried at fair value
Rabbi trust assets		$ 31,857	$ 31,139
Forward foreign exchange contracts	[1]	9,875	6,296
Total		41,732	37,435
Financial liabilities carried at fair value
Forward foreign exchange contracts	[1]	33,148	23,799
Level 1 Inputs [Member]
Financial assets carried at fair value
Rabbi trust assets	[2]	31,857	31,139
Forward foreign exchange contracts	[1],[2]	0	0
Total	[2]	31,857	31,139
Financial liabilities carried at fair value
Forward foreign exchange contracts	[1],[2]	0	0
Level 2 Inputs [Member]
Financial assets carried at fair value
Rabbi trust assets	[3]	0	0
Forward foreign exchange contracts	[1],[3]	9,875	6,296
Total	[3]	9,875	6,296
Financial liabilities carried at fair value
Forward foreign exchange contracts	[1],[3]	$ 33,148	$ 23,799
[1]	The Company’s over-the-counter forward foreign exchange contracts are subject to International Swaps and Derivatives Association, Inc. master agreements. These agreements permit the net settlement of these contracts on a per-institution basis. Effective as of the first quarter of 2018, the Company recorded and presented the fair values of derivative over-the-counter forward foreign exchange contracts on a gross basis in its consolidated balance sheets, including those subject to master netting arrangements. The comparative period was revised to reflect the change from a net basis to a gross basis.
[2]	Fair values estimated using Level 1 inputs are inputs which consist of quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Rabbi trust assets consist of a diversified portfolio of equity, fixed income and other securities.
[3]	Fair values estimated using Level 2 inputs are inputs, other than quoted prices, that are observable for the asset or liability, either directly or indirectly and include among other things, quoted prices for similar assets or liabilities in markets that are active or inactive as well as inputs other than quoted prices that are observable. For forward foreign exchange contracts, inputs include foreign currency exchange and interest rates and, where applicable, credit default swap prices.

Fair Value of Financial Instr29

Fair Value of Financial Instruments-Adjusted Historical Cost (Details) - USD ($) $ in Thousands		Feb. 25, 2018	Nov. 26, 2017
Senior notes [Member] | 5.00% Senior Notes, Due 2025 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate		5.00%
Senior notes [Member] | 3.375% Senior Notes Due 2027 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate		3.375%
Fair Value, Measurements, Recurring [Member] | Carrying Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term debt carried at adjusted historical cost		$ 25,181	$ 38,727
Total financial liabilities carried at adjusted historical cost		1,104,107	1,083,183
Fair Value, Measurements, Recurring [Member] | Carrying Value [Member] | Senior notes [Member] | 5.00% Senior Notes, Due 2025 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt carried at adjusted historical cost	[1]	492,071	485,419
Fair Value, Measurements, Recurring [Member] | Carrying Value [Member] | Senior notes [Member] | 3.375% Senior Notes Due 2027 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt carried at adjusted historical cost	[1]	586,855	559,037
Fair Value, Measurements, Recurring [Member] | Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term debt carried at adjusted historical cost		25,181	38,727
Total financial liabilities carried at adjusted historical cost		1,133,304	1,136,178
Fair Value, Measurements, Recurring [Member] | Fair Value [Member] | Senior notes [Member] | 5.00% Senior Notes, Due 2025 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt carried at adjusted historical cost	[1]	501,754	507,185
Fair Value, Measurements, Recurring [Member] | Fair Value [Member] | Senior notes [Member] | 3.375% Senior Notes Due 2027 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt carried at adjusted historical cost	[1]	$ 606,369	$ 590,266
[1]	Fair values are estimated using Level 1 inputs and incorporate mid-market price quotes. Level 1 inputs are inputs which consist of quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date.

Derivative Instruments and He30

Derivative Instruments and Hedging Activities-Balance Sheet (Details) - USD ($) $ in Thousands		Feb. 25, 2018	Nov. 26, 2017
Forward foreign exchange contracts [Member]
Carrying Value, Balance Sheet Location By Contract Type, By Hedging Designation [Line Items]
Derivative asset, gross asset		$ 5,760	$ 3,218
Derivative asset, gross liability		(5,760)	(3,146)
Derivative asset		0	72
Derivative liability, gross asset		5,760	3,146
Derivative Liability, gross liability		(30,747)	(20,876)
Derivative Liability		(24,987)	(17,730)
Derivative, Fair Value, Net		(24,987)	(17,658)
Embedded Derivative Financial Instruments [Member]
Carrying Value, Balance Sheet Location By Contract Type, By Hedging Designation [Line Items]
Derivative asset, gross asset		4,115	3,078
Derivative asset, gross liability		0	0
Derivative asset		4,115	3,078
Derivative liability, gross asset		0	0
Derivative Liability, gross liability		(2,401)	(2,923)
Derivative Liability		(2,401)	(2,923)
Derivative, Fair Value, Net		1,714	155
Carrying Value [Member] | Forward foreign exchange contracts [Member]
Carrying Value, Balance Sheet Location By Contract Type, By Hedging Designation [Line Items]
Derivative asset		9,875	6,296
Derivative Liability		(33,148)	(23,799)
Carrying Value [Member] | Other assets [Member] | Forward foreign exchange contracts [Member]
Carrying Value, Balance Sheet Location By Contract Type, By Hedging Designation [Line Items]
Derivative asset, gross asset	[1]	9,875	6,296
Derivative asset, gross liability	[1]	0	0
Derivative asset, Net Carrying Value	[1]	9,875	6,296
Carrying Value [Member] | Other accrued liabilities [Member] | Forward foreign exchange contracts [Member]
Carrying Value, Balance Sheet Location By Contract Type, By Hedging Designation [Line Items]
Derivative liability, gross asset	[2]	0	0
Derivative Liability, gross liability	[2]	(33,148)	(23,799)
Derivative liability, Net Carrying Value	[2]	(33,148)	(23,799)
Bonds [Member] | Euro Senior Notes [Member] | Carrying Value [Member]
Carrying Value, Balance Sheet Location By Contract Type, By Hedging Designation [Line Items]
Hedging assets		0	0
Hedging liabilities		(585,628)	$ (562,780)
Long [Member]
Carrying Value, Balance Sheet Location By Contract Type, By Hedging Designation [Line Items]
Forward foreign exchange contracts		681,600
Short [Member]
Carrying Value, Balance Sheet Location By Contract Type, By Hedging Designation [Line Items]
Forward foreign exchange contracts		$ 250,700
[1]	Included in "Other current assets" or "Other non-current assets" on the Company’s consolidated balance sheets.
[2]	Included in "Other accrued liabilities" or "Other long-term liabilities" on the Company’s consolidated balance sheets.

Derivative Instruments and He31

Derivative Instruments and Hedging Activities-Income Statement (Details) - USD ($) $ in Thousands	3 Months Ended
	Feb. 25, 2018	Feb. 26, 2017	Nov. 26, 2017
Derivative Instruments, Gain (Loss) [Line Items]
Cumulative income taxes, gain or (loss) recognized in AOCI	$ 41,304		$ 35,253
Total, gain or (loss) recognized in AOCI	(72,414)		(55,618)
Forward foreign exchange contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Forward foreign exchange contracts, gain of (loss) recognized in AOCI	4,637		4,637
Yen-denominated Eurobonds [Member] | Bonds [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Non-derivative hedging instruments-gain or (loss) recognized in AOCI	(19,811)		(19,811)
Non-derivative hedging instruments-gain or (loss) recognized in other income	0	$ 0
Euro Senior Notes [Member] | Senior notes [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Non-derivative hedging instruments-gain or (loss) recognized in AOCI	(98,544)		$ (75,697)
Non-derivative hedging instruments-gain or (loss) recognized in other income	$ 0	$ 0

Derivative Instruments and He32

Derivative Instruments and Hedging Activities-Realized & Unrealized (Details) - Forward foreign exchange contracts [Member] - Other Income [Member] - USD ($) $ in Thousands	3 Months Ended
	Feb. 25, 2018	Feb. 26, 2017
Derivative Instruments, Gain (Loss) [Line Items]
Realized	$ (10,303)	$ 9,076
Unrealized	(5,784)	(19,320)
Total	$ (16,087)	$ (10,244)

Debt-Table (Details)

Debt-Table (Details) - USD ($) $ in Thousands	Feb. 25, 2018	Nov. 26, 2017
Schedule of Long-term and Short-term Debt Instruments [Line Items]
Long-term Debt, Excluding Current Maturities	$ 1,062,355	$ 1,038,860
Long-term debt	1,062,355	1,038,860
Short-term debt	24,850	38,451
Long-term and short-term debt	1,087,205	1,077,311
5.00% Senior Notes, Due 2025 [Member] | Senior notes [Member]
Schedule of Long-term and Short-term Debt Instruments [Line Items]
Long-term Debt, Excluding Current Maturities	$ 484,154	483,683
Stated interest rate	5.00%
3.375% Senior Notes Due 2027 [Member] | Senior notes [Member]
Schedule of Long-term and Short-term Debt Instruments [Line Items]
Long-term Debt, Excluding Current Maturities	$ 578,201	555,177
Stated interest rate	3.375%
Short-term borrowings [Member]
Schedule of Long-term and Short-term Debt Instruments [Line Items]
Short-term debt	$ 24,850	$ 38,451

Debt-Textuals (Details)

Debt-Textuals (Details) - USD ($) $ in Millions	3 Months Ended
	Feb. 25, 2018	Feb. 26, 2017
Debt Instruments [Line Items]
Weighted-average interest rate	4.77%	6.67%
Senior revolving credit facility [Member]
Debt Instruments [Line Items]
Unused availability	$ 744.6
Total availability	789.5
Letters of credit and other credit usage	$ 44.9

Employee Benefit Plans (Details

Employee Benefit Plans (Details) - USD ($) $ in Thousands	3 Months Ended
	Feb. 25, 2018	Feb. 26, 2017
Net periodic benefit cost:
Net periodic benefit cost	$ 1,775	$ 4,040
Pension Benefits [Member]
Net periodic benefit cost:
Net periodic benefit cost	849	2,892
Postretirement Benefits [Member]
Net periodic benefit cost:
Net periodic benefit cost	$ 926	$ 1,148

Dividend (Details)

Dividend (Details) $ in Thousands	3 Months Ended
	Nov. 25, 2018USD ($)	Feb. 25, 2018USD ($)installment	Feb. 26, 2017USD ($)
Dividends Payable [Line Items]
Dividend declared		$ 90,000
Number of dividend installments | installment		2
Dividend installments		$ 45,000
Dividend paid		$ 45,000	$ 35,000
Scenario, Forecast [Member]
Dividends Payable [Line Items]
Dividend paid	$ 45,000

Accumulated Other Comprehensi37

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	Feb. 25, 2018	Nov. 26, 2017
Equity [Abstract]
Pension and postretirement benefits	$ (229,722)	$ (232,181)
Net investment hedge losses	(72,414)	(55,618)
Foreign currency translation losses	(91,539)	(111,092)
Unrealized gains on marketable securities	4,261	4,048
Accumulated other comprehensive loss	(389,414)	(394,843)
Accumulated other comprehensive income attributable to noncontrolling interest	9,800	9,538
Accumulated other comprehensive loss attributable to Levi Strauss & Co.	$ (399,214)	$ (404,381)

Other Income (Expense), Net (De

Other Income (Expense), Net (Details) - USD ($) $ in Thousands		3 Months Ended
		Feb. 25, 2018	Feb. 26, 2017
Other Income and Expenses [Abstract]
Foreign exchange management gains (losses)	[1]	$ (16,087)	$ (10,244)
Foreign currency transaction (losses) gains	[2]	3,317	9,676
Interest income		2,429	617
Investment income		428	353
Other, net		336	6
Total other (expense) income, net		$ (9,577)	$ 408
[1]	Gains and losses on forward foreign exchange contracts primarily result from currency fluctuations relative to negotiated contract rates. Losses in the three-month period ended February 25, 2018 were primarily due to unfavorable currency fluctuations relative to negotiated contract rates on positions to sell the Euro and the British Pound. Losses in the three-month period ended February 26, 2017 were primarily due to unfavorable currency fluctuations relative to negotiated contract rates on positions to sell the Mexican Peso.
[2]	Foreign currency transaction gains and losses reflect the impact of foreign currency fluctuation on the Company's foreign currency denominated balances. Gains in the three-month period ended February 25, 2018 were primarily due to the strengthening of the Euro against the US dollar. Gains in the three-month period ended February 26, 2017 were primarily due to the strengthening of the Mexican Peso and Euro against the US dollar.

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Feb. 25, 2018	Feb. 26, 2017	Nov. 25, 2018
Income Tax Contingency [Line Items]
Preliminary impact of U.S. statutory rate change	$ 136
Charge related to re-measurement of deferred tax assets and liabilities	99
One-time U.S. transition tax on undistributed foreign earnings	$ 37
Effective income tax rate	112.50%	32.30%
One-time tax charge related to impact of U.S. tax reform	91.00%
Discrete tax benefit recognized attributable to excess tax benefits on equity compensation	4.40%
Scenario, Forecast [Member]
Income Tax Contingency [Line Items]
Blended U.S. statutory federal income tax rate			22.40%
Pro Forma [Member]
Income Tax Contingency [Line Items]
Preliminary impact of U.S. statutory rate change	$ 136

Related Parties (Details)

Related Parties (Details) - USD ($) $ in Millions	3 Months Ended
	Feb. 25, 2018	Feb. 26, 2017
Levi Strauss Foundation [Member]
Related Party Transaction [Line Items]
Related Party Donations	$ 6.5	$ 6.3

Business Segment Information (D

Business Segment Information (Details) $ in Thousands	3 Months Ended
	Feb. 25, 2018USD ($)Regional_Segments	Feb. 26, 2017USD ($)
Segment Reporting Information [Line Items]
Number of operating segments | Regional_Segments	3
Net revenues	$ 1,343,685	$ 1,101,991
Operating income	174,099	108,340
Interest expense	(15,497)	(19,934)
Other (expense) income, net	(9,577)	408
Income before income taxes	149,025	88,814
Americas [Member]
Segment Reporting Information [Line Items]
Net revenues	657,197	577,907
Operating income	111,245	90,342
Europe [Member]
Segment Reporting Information [Line Items]
Net revenues	452,722	310,317
Operating income	115,286	64,539
AMEA [Member]
Segment Reporting Information [Line Items]
Net revenues	233,766	213,767
Operating income	40,709	35,941
Regional operating income [Member]
Segment Reporting Information [Line Items]
Operating income	267,240	190,822
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Other Selling, General and Administrative Expense	93,141	82,482
Corporate Segment [Member]
Segment Reporting Information [Line Items]
Corporate expenses	$ 93,141	$ 82,482