Levi Strauss & Co. (LEVI) 10-Q 6 Apr 23 2023 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Feb. 26, 2023	Mar. 30, 2023
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Feb. 26, 2023
Document Transition Report	false
Entity File Number	001-06631
Entity Registrant Name	LEVI STRAUSS & CO
Amendment Flag	false
Current Fiscal Year End Date	--11-26
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Entity Central Index Key	0000094845
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	94-0905160
Entity Address, Address Line One	1155 Battery Street
Entity Address, City or Town	San Francisco
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94111
City Area Code	415
Local Phone Number	501-6000
Title of 12(b) Security	Class A Common Stock, $0.001 par value per share
Trading Symbol	LEVI
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Common Class A [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		98,832,083
Common Class B [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		297,544,679

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Feb. 26, 2023	Nov. 27, 2022
Current Assets:
Cash and cash equivalents	$ 321.8	$ 429.6
Short-term investments	0	70.6
Trade receivables, net	768.7	697
Inventories	1,335.2	1,416.8
Other current assets	223.2	213.9
Total current assets	2,648.9	2,827.9
Property, plant and equipment, net	625.2	622.8
Goodwill	369.3	365.7
Other intangible assets, net	285.9	286.7
Deferred tax assets, net	635.5	625
Operating lease right-of-use assets, net	955	970
Other non-current assets	354.1	339.7
Total assets	5,873.9	6,037.8
Current Liabilities:
Short-term debt	162	11.7
Accounts payable	475.4	657.2
Accrued salaries, wages and employee benefits	168.5	246.7
Accrued sales returns and allowances	178.1	180
Short-term operating lease liabilities	234	235.7
Other accrued liabilities	556.2	650.3
Total current liabilities	1,774.2	1,981.6
Long-term debt	993.6	984.5
Long-term operating lease liabilities	838.2	859.1
Long-term employee related benefits and other liabilities	300.4	308.9
Total liabilities	3,906.4	4,134.1
Commitments and contingencies
Levi Strauss & Co. stockholders’ equity
Common stock — $0.001 par value; 1,200,000,000 Class A shares authorized, 97,288,774 shares and 96,028,351 shares issued and outstanding as of February 26, 2023 and November 27, 2022, respectively; and 422,000,000 Class B shares authorized, 299,087,988 shares and 297,703,442 shares issued and outstanding, as of February 26, 2023 and November 27, 2022, respectively	0.4	0.4
Additional paid-in capital	627.2	625.6
Accumulated other comprehensive loss	(418.5)	(421.7)
Retained earnings	1,758.4	1,699.4
Total stockholders’ equity	1,967.5	1,903.7
Total liabilities and stockholders’ equity	$ 5,873.9	$ 6,037.8

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Feb. 26, 2023	Nov. 27, 2022
Common Class A [Member]
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	1,200,000,000	1,200,000,000
Common stock, shares issued	97,288,774	96,028,351
Common stock, shares outstanding	97,288,774	96,028,351
Common Class B [Member]
Common stock, shares authorized	422,000,000	422,000,000
Common stock, shares issued	299,087,988	297,703,442
Common stock, shares outstanding	299,087,988	297,703,442

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Millions	3 Months Ended
	Feb. 26, 2023	Feb. 27, 2022
Income Statement [Abstract]
Net revenues	$ 1,688.9	$ 1,591.6
Cost of goods sold	746.6	648
Gross profit	942.3	943.6
Selling, general and administrative expenses	784.9	709.4
Operating income	157.4	234.2
Interest expense	(10.7)	(4.2)
Other (expense) income, net	(7.5)	15.9
Income before income taxes	139.2	245.9
Income tax expense	24.5	50.1
Net income	$ 114.7	$ 195.8
Earnings per common share attributable to common stockholders:
Basic (usd per share)	$ 0.29	$ 0.49
Diluted (usd per share)	$ 0.29	$ 0.48
Weighted-average common shares outstanding:
Basic (in shares)	395,956,182	399,445,106
Diluted (in shares)	400,360,529	407,017,092

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended
	Feb. 26, 2023	Feb. 27, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 114.7	$ 195.8
Other comprehensive income (loss), before related income taxes:
Pension and postretirement benefits	2.3	2.2
Derivative instruments	(24.8)	(4.2)
Foreign currency translation gains (losses)	28.1	(11.1)
Unrealized gains (losses) on marketable securities	0.7	(6)
Total other comprehensive income (loss), before related income taxes	6.3	(19.1)
Income tax (expense) benefit related to items of other comprehensive income (loss)	(3.1)	2.1
Comprehensive income, net of income taxes	$ 117.9	$ 178.8

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Millions	Total	Class A & Class B Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Loss
Beginning balance at Nov. 28, 2021	$ 1,665.7	$ 0.4	$ 584.8	$ 1,474.9	$ (394.4)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	195.8			195.8
Other comprehensive income/loss, net of tax	(17)				(17)
Stock-based compensation and dividends, net	14.1	0	14.1	0
Employee stock purchase plan	2.3		2.3
Repurchase of common stock	(71.6)	0		(71.6)
Tax withholdings on equity awards	(25.8)		(25.8)
Cash dividends declared (in usd per share)	(39.9)			(39.9)
Ending balance at Feb. 27, 2022	1,723.6	0.4	575.4	1,559.2	(411.4)
Beginning balance at Nov. 27, 2022	1,903.7	0.4	625.6	1,699.4	(421.7)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	114.7			114.7
Other comprehensive income/loss, net of tax	3.2				3.2
Stock-based compensation and dividends, net	17.6		17.6	0
Employee stock purchase plan	2.6		2.6
Repurchase of common stock	(8.1)	0		(8.1)
Tax withholdings on equity awards	(18.6)		(18.6)
Cash dividends declared (in usd per share)	(47.6)			(47.6)
Ending balance at Feb. 26, 2023	$ 1,967.5	$ 0.4	$ 627.2	$ 1,758.4	$ (418.5)

Consolidated Statements of St_2

Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares	3 Months Ended
	Feb. 26, 2023	Feb. 27, 2022
Statement of Stockholders' Equity [Abstract]
Cash dividends declared (in dollars per share)	$ 0.12	$ 0.10

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Feb. 26, 2023	Feb. 27, 2022
Cash Flows from Operating Activities:
Net income	$ 114,700	$ 195,800
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	39,600	38,900
Property, plant, equipment impairment, and early lease terminations, net	14,900	0
Stock-based compensation	17,600	14,100
(Benefit from) provision for deferred income taxes	(7,900)	19,000
Other, net	(2,800)	200
Net change in operating assets and liabilities	(336,900)	(181,900)
Net cash (used for) provided by operating activities	(160,800)	86,100
Cash Flows from Investing Activities:
Purchases of property, plant and equipment	(110,900)	(73,600)
Proceeds on settlement of forward foreign exchange contracts not designated for hedge accounting	21,000	3,100
Payments to acquire short-term investments	0	(28,000)
Proceeds from sale, maturity and collection of short-term investments	70,800	20,300
Net cash used for investing activities	(19,100)	(78,200)
Cash Flows from Financing Activities:
Proceeds from senior revolving credit facility	150,000	0
Repurchase of common stock	(8,100)	(74,200)
Tax withholdings on equity awards	(18,600)	(25,800)
Dividend to stockholders	(47,600)	(39,900)
Other financing, net	2,100	600
Net cash provided by (used for) financing activities	77,800	(139,300)
Effect of exchange rate changes on cash and cash equivalents and restricted cash	(5,700)	(500)
Net decrease in cash and cash equivalents and restricted cash	(107,800)	(131,900)
Beginning cash and cash equivalents, and restricted cash	430,000	810,600
Ending cash and cash equivalents, and restricted cash	322,200	678,700
Less: Ending restricted cash	(400)	(300)
Ending cash and cash equivalents	321,800	678,400
Noncash Investing Activity:
Property, plant and equipment acquired and not yet paid at end of period	39,300	25,700
Supplemental disclosure of cash flow information:
Cash paid for income taxes during the period, net of refunds	$ 1,700	$ 6,500

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
	Feb. 26, 2023
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, dresses, jackets, activewear, footwear and related accessories for men, women and children around the world under the Levi’s ® , Signature by Levi Strauss & Co.™, Denizen ® , Dockers ® and Beyond Yoga ® brands. Basis of Presentation and Principles of Consolidation The interim consolidated financial statements of the Company and its wholly-owned and majority-owned foreign and domestic subsidiaries, including the notes, have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (the "SEC") applicable to interim period financial statements and do not include all of the information and disclosures required by generally accepted accounting principles in the United States ("U.S. GAAP") for complete financial statements. 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. The unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements of the Company for the year ended November 27, 2022, included in the Company's 2022 Annual Report on Form 10-K. The unaudited consolidated financial statements include the accounts of the Company and its subsidiaries. All significant intercompany transactions have been eliminated. The results of operations for the three months ended February 26, 2023 may not be indicative of the results to be expected for any other interim period or the year ending November 26, 2023. 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 2023 and 2022 consists of 13 weeks. All references to years and quarters relate to fiscal years and quarters rather than calendar years and quarters. 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. Accounts Receivable Accounts receivable are recorded net of an allowance for credit losses. The Company estimates the allowance for credit losses based on an analysis of the aging of accounts receivable, assessment of collectability, including any known or anticipated bankruptcies, customer-specific circumstances and an evaluation of current economic conditions. The allowance for credit losses was $7.2 million and $7.5 million as of February 26, 2023 and November 27, 2022, respectively. Long-Lived Assets The Company reviews its long-lived assets for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may be impaired. Impairment losses are measured and recorded for the excess of carrying value over its fair value, estimated based on expected future cash flows and other quantitative and qualitative factors. Property, plant and equipment, net includes accumulated depreciation of $1.2 billion and $1.2 billion as of February 26, 2023 and November 27, 2022, respectively. In the first quarter of 2023, the Company recorded $18.6 million in charges primarily relate to the impairment of capitalized internal-use software, as a result of the decision to discontinue certain technology projects in connection with the overall restructuring initiative. For more on the restructuring, refer to Note 7. The impairment charges are included in selling, general and administrative expenses ("SG&A") in the accompanying consolidated statements of income. Share Repurchases During the three months ended February 26, 2023, the Company repurchased 0.5 million shares for $8.1 million, plus broker's commissions, in the open market. This equates to an average repurchase price of approximately $17.97 per share. During the three months ended February 27, 2022, the Company repurchased 3.0 million shares for $71.5 million, plus broker's commissions, in the open market. This equates to an average repurchase price of approximately $23.56 per share. The Company accounts for share repurchases by charging the excess of repurchase price over the repurchased Class A common stock's par value entirely to retained earnings. All repurchased shares are retired and become authorized but unissued shares. The Company accrues for the shares purchased under the share repurchase plan based on the trade date. The Company may terminate or limit the share repurchase program at any time. Reclassification Certain amounts on the consolidated balance sheets and statements of cash flow have been conformed to the February 26, 2023 presentation. Recently Issued Accounting Standards

Inventories

Inventories	3 Months Ended
	Feb. 26, 2023
Inventory Disclosure [Abstract]
Inventories	INVENTORIES The following table presents the Company's inventory balances: February 26, November 27, (Dollars in millions) Raw materials $ 13.7 $ 12.3 Work-in-progress 2.9 4.7 Finished goods 1,318.6 1,399.8 Total inventories $ 1,335.2 $ 1,416.8

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Feb. 26, 2023
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 26, 2023 November 27, 2022 Fair Value Estimated Fair Value Estimated Fair Value Level 1 Inputs (1) Level 2 Inputs (2) Fair Value Level 1 Inputs (1) Level 2 Inputs (2) (Dollars in millions) Financial assets carried at fair value Rabbi trust assets $ 72.1 $ 72.1 $ — $ 71.5 $ 71.5 $ — Short-term investments in marketable securities — — — 70.6 — 70.6 Derivative instruments (3) 11.9 — 11.9 21.5 — 21.5 Total $ 84.0 $ 72.1 $ 11.9 $ 163.6 $ 71.5 $ 92.1 Financial liabilities carried at fair value Derivative instruments (3) 21.1 — 21.1 8.1 — 8.1 Total $ 21.1 $ — $ 21.1 $ 8.1 $ — $ 8.1 _____________ (1) Fair values estimated using Level 1 inputs are inputs that 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 marketable equity 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. Short-term investments in marketable securities consist of fixed income securities. For forward foreign exchange contracts, inputs include foreign currency exchange and interest rates and, where applicable, credit default swap prices. (3) The Company’s cash flow hedges 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. Refer to Note 4 for more information. The following table presents the amortized cost, gross unrealized gains (losses) and fair values of the Company’s available for sale investments: November 27, 2022 Amortized Unrealized Unrealized Fair Value (Dollars in millions) Available for sale investments Short-term investments in marketable securities $ 71.1 $ 0.3 $ (0.8) $ 70.6 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 26, 2023 November 27, 2022 Carrying Estimated Fair Carrying Estimated Fair (Dollars in millions) Financial liabilities carried at adjusted historical cost 3.375% senior notes due 2027 (1) $ 507.0 $ 482.0 $ 493.9 $ 461.4 3.50% senior notes due 2031 (1) 502.6 408.7 498.1 404.3 Short-term borrowings 162.8 162.8 11.7 11.7 Total $ 1,172.4 $ 1,053.5 $ 1,003.7 $ 877.4 _____________ (1) Fair values are estimated using Level 2 inputs and incorporate mid-market price quotes. Level 2 inputs are inputs other than quoted prices, that are observable for the liability, either directly or indirectly and include among other things, quoted prices for similar liabilities in markets that are active or inactive as well as inputs other than quoted prices that are observable.

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	3 Months Ended
	Feb. 26, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES Designated Cash Flow Hedges The Company actively manages the risk of changes in functional currency equivalent cash flows resulting from anticipated non-functional currency denominated purchases and sales. The Company’s global sourcing organization uses the U.S. Dollar as its functional currency and is primarily exposed to changes in functional currency equivalent cash flows from anticipated inventory purchases, as it procures inventory on behalf of subsidiaries with the Euro, Australian Dollar and Japanese Yen functional currencies. The Mexico subsidiary uses the Mexican Peso as its functional currency and is exposed as it procures inventory in the U.S. Dollar. Additionally, a European subsidiary uses Euros as its functional currency and is exposed to anticipated non-functional currency denominated sales. The Company manages these risks by using currency forward contracts formally designated and effective as cash flow hedges. Hedge effectiveness is generally determined by evaluating the ability of a hedging instrument's cumulative change in fair value to offset the cumulative change in the present value of expected cash flows on the underlying exposures. For forward contracts, forward points are excluded from the determination of hedge effectiveness and are included in cost of goods sold for hedges of anticipated inventory purchases and in net revenues for hedges of anticipated sales on a straight-line basis over the life of the contract. In each accounting period, differences between the change in fair value of the forward points and the amount recognized on a straight-line basis is recognized in other comprehensive income (loss). Net Investment Hedges The Company designates certain non-derivative instruments as net investment hedges to hedge the Company's net investment position in certain of its foreign subsidiaries. For these instruments, the Company documents the hedge designation by identifying the hedging instrument, the nature of the risk being hedged and the approach for measuring hedge effectiveness. The ineffective portions of these hedges are recorded in "Other (expense) income, net" in the Company's consolidated statements of income. The effective portions of these hedges are recorded in "Accumulated other comprehensive loss" ("AOCL") on the Company's consolidated balance sheets and are not reclassified to earnings until the related net investment position has been liquidated. Non-designated Cash Flow Hedges The Company enters into derivative instruments not designated as hedges. These derivative instruments are not speculative and are used to manage the Company’s exposure to certain product sourcing activities, some intercompany sales, foreign subsidiaries' royalty payments, interest payments, earnings repatriations, net investment in foreign operations and funding activities but the Company has not elected to apply hedge accounting. Changes in the fair value of derivatives not designated in hedging relationships are recorded directly in "Other (expense) income, net" in the Company’s consolidated statements of income. As of February 26, 2023, the Company had forward foreign exchange contracts derivatives that were not designated as hedges in qualifying hedging relationships, of which $993.9 million were contracts to buy and $645.9 million were contracts to sell various foreign currencies. These contracts are at various exchange rates and expire at various dates through May 2024. The table below provides data about the carrying values of derivative and non-derivative instruments: February 26, 2023 November 27, 2022 Assets (Liabilities) Derivative Assets (Liabilities) Derivative Carrying Carrying Carrying Carrying (Dollars in millions) Derivatives designated as hedging instruments Foreign exchange risk cash flow hedges (1) $ 8.2 $ — $ 8.2 $ 15.6 $ — $ 15.6 Foreign exchange risk cash flow hedges (2) — (14.9) (14.9) — (7.2) (7.2) Total $ 8.2 $ (14.9) $ 15.6 $ (7.2) Derivatives not designated as hedging instruments Forward foreign exchange contracts (1) $ 11.9 $ (8.2) $ 3.7 $ 21.5 $ (15.6) $ 5.9 Forward foreign exchange contracts (2) 14.9 (21.1) (6.2) 7.2 (8.1) (0.9) Total $ 26.8 $ (29.3) $ 28.7 $ (23.7) Non-derivatives designated as hedging instruments Euro senior notes $ — $ (503.2) $ — $ (494.5) _____________ (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 26, 2023 November 27, 2022 Gross Amounts of Assets / (Liabilities) Gross Amounts Net Amounts Gross Amounts of Assets / (Liabilities) Gross Amounts Net Amounts (Dollars in millions) Foreign exchange risk contracts and forward foreign exchange contracts Financial assets $ 35.0 $ (22.1) $ 12.9 $ 44.3 $ (14.6) $ 29.7 Financial liabilities (44.2) 22.1 (22.1) (30.9) 14.6 (16.3) Total $ (9.2) $ 13.4 The table below provides data about the amount of gains and losses related to derivative instruments designated as cash flow hedges and non-derivative instruments designated as net investment hedges included in AOCL on the Company’s consolidated balance sheets: Amount of Gain (Loss) Amount of Gain (Loss) Reclassified from AOCL into Net Income (1) As of February 26, 2023 As of November 27, 2022 Three Months Ended February 26, February 27, (Dollars in millions) Foreign exchange risk contracts $ 6.4 $ 22.6 $ 11.1 $ 0.6 Realized forward foreign exchange swaps (2) 4.6 4.6 — — Yen-denominated Eurobonds (19.8) (19.8) — — Euro-denominated senior notes (16.1) (7.4) — — Cumulative income taxes 12.5 7.2 — — Total $ (12.4) $ 7.2 _____________ (1) Amounts reclassified from AOCL were classified as net revenues and cost of goods sold on the Company's consolidated statements of income. (2) Prior to and during 2005, the Company used foreign exchange currency swaps to hedge the net investment in its foreign operations. For hedges that qualified for hedge accounting, the net gains were included in AOCL and are not reclassified to earnings until the related net investment position has been liquidated. There was no hedge ineffectiveness for the three months ended February 26, 2023. Within the next 12 months, a $8.1 million gain from cash flow hedges is expected to be reclassified from AOCL into net income. The table below presents the effects of the Company's cash flow hedges of foreign exchange risk contracts on the consolidated statements of income: Three Months Ended February 26, February 27, (Dollars in millions) Amount of Gain (Loss) on Cash Flow Hedge Activity Net revenues $ 1.6 $ (0.9) Cost of goods sold $ 9.5 $ 1.5 The table below provides data about the amount of gains and losses related to derivatives instruments included in "Other (expense) income, net" in the Company's consolidated statements of income: Three Months Ended February 26, February 27, (Dollars in millions) Realized loss $ 9.4 $ (1.4) Unrealized gain (5.6) 3.7 Total $ 3.8 $ 2.3

Other Accrued Liabilities

Other Accrued Liabilities	3 Months Ended
	Feb. 26, 2023
Other Liabilities Disclosure [Abstract]
Other Accrued Liabilities	OTHER ACCRUED LIABILITIES The following table presents the Company's other accrued liabilities: February 26, November 27, (Dollars in millions) Other accrued liabilities Accrued non-trade payables $ 185.9 $ 268.4 Accrued advertising and promotion 55.8 57.1 Taxes other than income taxes payable 48.6 53.2 Accrued property, plant and equipment 39.3 93.3 Accrued income taxes 35.1 13.1 Fair value derivatives 21.0 7.5 Restructuring liabilities 19.4 9.8 Accrued interest payable 17.3 8.0 Accrued rent 9.1 9.1 Other 124.7 130.8 Total other accrued liabilities $ 556.2 $ 650.3

Debt

Debt	3 Months Ended
	Feb. 26, 2023
Debt Disclosure [Abstract]
DEBT	DEBT The following table presents the Company's debt: February 26, November 27, (Dollars in millions) Long-term debt Unsecured: 3.375% senior notes due 2027 $ 499.6 $ 490.6 3.50% senior notes due 2031 494.0 493.9 Total long-term debt $ 993.6 $ 984.5 Short-term debt Secured: Senior revolving credit facility $ 150.0 $ — Unsecured: Short-term borrowings 12.0 11.7 Total short-term debt $ 162.0 $ 11.7 Total debt $ 1,155.6 $ 996.2 Senior Revolving Credit Facility The Company's unused availability under the Credit Facility was $835.1 million at February 26, 2023, as the Company's total availability of $850.0 million was reduced by $14.9 million of letters of credit and other credit usage allocated under the Credit Facility. On February 27, 2023, subsequent to quarter end, the Company borrowed an additional $50.0 million under its Credit Facility for total outstanding $200.0 million. Interest Rates on Borrowings The Company’s weighted-average interest rate on average borrowings outstanding during the three months ended February 26, 2023 was 3.86%, as compared to 3.83% during the same period of 2022.

Restructuring Activities

Restructuring Activities	3 Months Ended
	Feb. 26, 2023
Restructuring and Related Activities [Abstract]
RESTRUCTURING ACTIVITIES	RESTRUCTURING ACTIVITIES In the fourth quarter of 2022, the Company began a restructuring initiative designed to reduce costs and streamline operations in support of enterprise prioritization efforts. The plan is expected to continue through 2023 and will include further prioritization, cost reductions, and organizational changes. For the three-month period ended February 26, 2023, the Company recognized net restructuring charges of $11.4 million, which primarily relate to severance benefits, based on separation benefits provided by Company policy or statutory benefit plans. The Company also recognized $18.2 million in charges related to the impairment of capitalized internal-use software, as a result of the decision to discontinue certain technology projects. Both charges were recorded in SG&A in the accompanying consolidated statements of income.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Feb. 26, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Forward Foreign Exchange Contracts The Company uses cash flow hedge 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 4 for additional information. Other Contingencies Litigation. In the ordinary course of business, the Company has various claims, complaints and pending cases, including contractual matters, facility and employee-related matters, distribution matters, product liability matters, intellectual property matters, bankruptcy preference matters, and tax and administrative matters. The Company establishes loss provisions for these ordinary course claims as well as other matters in which losses are probable and can be reasonably estimated. The Company does not believe any of these pending claims, complaints and 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 its geographic regions and, as such, is subject to numerous countries' complex customs laws and regulations with respect to its import and export activity. The Company has various pending audit assessments in connection with these activities. As of February 26, 2023, the Company has recorded certain reserves for these matters which are not material. The Company does not believe any of the claims for customs duty and related charges will have a material impact on its financial condition, results of operations or cash flows.

Dividends

Dividends	3 Months Ended
	Feb. 26, 2023
Dividends [Abstract]
DIVIDENDS	DIVIDENDS Dividends are declared at the discretion of the Board. In January 2023 and 2022, the Company declared cash dividends of $0.12 and $0.10 per share, respectively, to holders of record of its Class A and Class B common stock. Dividends in the amount of $47.6 million and $39.9 million, respectively, were paid out during the three months ended February 26, 2023 and February 27, 2022. The Company does not have an established dividend policy. The Board reviews the Company's ability to pay dividends on an ongoing basis and establishes the dividend amount based on the Company's financial condition, results of operations, capital requirements, current and projected cash flows and other factors, and any restrictions related to the terms of the Company’s debt agreements. Subsequent to the Company's quarter end, a cash dividend of $0.12 per share was declared to holders of record of its Class A and Class B common stock at the close of business on May 4, 2023, for a total quarterly dividend of approximately $47 million.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	3 Months Ended
	Feb. 26, 2023
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: Three Months Ended February 26, 2023 Pension and Postretirement Benefits (1) Translation Adjustments Unrealized (Loss) Gain on Marketable Securities (1) Derivative Instruments (2) Foreign Total (Dollars in millions) Accumulated other comprehensive (loss) income at November 27, 2022 $ (179.5) $ 7.2 $ (248.7) $ (0.7) $ (421.7) Other comprehensive income (loss) before reclassifications (0.5) (8.5) 20.3 0.1 11.4 Amounts reclassified from accumulated other comprehensive income (loss) 2.3 (11.1) — 0.6 (8.2) Net increase (decrease) in other comprehensive income (loss) 1.8 (19.6) 20.3 0.7 3.2 Accumulated other comprehensive (loss) income at February 26, 2023 $ (177.7) $ (12.4) $ (228.4) $ — $ (418.5) Three Months Ended February 27, 2022 Pension and Postretirement Benefits (1) Translation Adjustments Unrealized Gain (Loss) on Marketable Securities (1) Derivative Instruments (2) Foreign Total (Dollars in millions) Accumulated other comprehensive (loss) income at November 28, 2021 $ (195.5) $ (20.9) $ (196.8) $ 18.8 $ (394.4) Other comprehensive income (loss) before reclassifications (0.5) (2.5) (10.9) (4.7) (18.6) Amounts reclassified from accumulated other comprehensive income (loss) 2.2 (0.6) — — 1.6 Net increase (decrease) in other comprehensive income (loss) 1.7 (3.1) (10.9) (4.7) (17.0) Accumulated other comprehensive (loss) income at February 27, 2022 $ (193.8) $ (24.0) $ (207.7) $ 14.1 $ (411.4) _____________ (1) Amounts reclassified were recorded in other (expense) income, net. (2) Amounts reclassified were recorded within net revenues and cost of goods sold. For more information, refer to Note 4.

Net Revenues

Net Revenues	3 Months Ended
	Feb. 26, 2023
Revenue from Contract with Customer [Abstract]
Net Revenues	NET REVENUES Disaggregated Revenue The table below provides the Company's revenues disaggregated by segment and channel. Three Months Ended February 26, 2023 Levi's Brands Americas Europe Asia Other Brands Total (Dollars in millions) Net revenues by channel: Wholesale $ 530.6 $ 244.1 $ 134.0 $ 76.2 $ 984.9 Direct-to-consumer 292.4 211.0 155.5 45.1 704.0 Total net revenues $ 823.0 $ 455.1 $ 289.5 $ 121.3 $ 1,688.9 Three Months Ended February 27, 2022 Levi's Brands Americas Europe Asia Other Brands Total (Dollars in millions) Net revenues by channel: Wholesale $ 510.8 $ 265.7 $ 122.8 $ 63.8 $ 963.1 Direct-to-consumer 255.1 203.7 135.6 34.1 628.5 Total net revenues $ 765.9 $ 469.4 $ 258.4 $ 97.9 $ 1,591.6

Other Income, Net

Other Income, Net	3 Months Ended
	Feb. 26, 2023
Other Income and Expenses [Abstract]
OTHER INCOME, NET	OTHER (EXPENSE) INCOME, NET The following table summarizes significant components of "Other (expense) income, net": Three Months Ended February 26, February 27, (Dollars in millions) Foreign exchange management gains (1) $ 3.8 $ 2.3 Foreign currency transaction losses (2) (10.6) (2.2) Marketable securities losses (3) (1.1) — COVID-19 government subsidy gain (4) — 12.5 Other, net 0.4 3.3 Total other (expense) income, net $ (7.5) $ 15.9 _____________ (1) Gains on forward foreign exchange contracts primarily result from currency fluctuations relative to negotiated contract rates. (2) Foreign currency transaction losses reflect the impact of foreign currency fluctuation on the Company's foreign currency denominated balances. Losses in the three-month period ended February 26, 2023 were primarily due to U.S. Dollar weakening against the Euro and the Mexican Peso. (3) Marketable securities losses includes unrealized gains and losses from marketable equity securities held in an irrevocable grantor’s Rabbi trust in connection with the Company's deferred compensation plan.

Income Taxes

Income Taxes	3 Months Ended
	Feb. 26, 2023
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company's effective income tax rate was 17.6% for the three months ended February 26, 2023, compared to 20.4% for the same prior-year period.

Earnings Per Share Attributable

Earnings Per Share Attributable to Common Stockholders	3 Months Ended
	Feb. 26, 2023
Earnings Per Share [Abstract]
EARNINGS PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS	EARNINGS PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS The following table sets forth the computation of the Company's basic and diluted earnings per share: Three Months Ended February 26, February 27, (Dollars in millions, except per share amounts) Numerator: Net income $ 114.7 $ 195.8 Denominator: Weighted-average common shares outstanding - basic 395,956,182 399,445,106 Dilutive effect of stock awards 4,404,347 7,571,986 Weighted-average common shares outstanding - diluted 400,360,529 407,017,092 Earnings per common share attributable to common stockholders: Basic $ 0.29 $ 0.49 Diluted $ 0.29 $ 0.48 Anti-dilutive securities excluded from calculation of diluted earnings per share attributable to common stockholders 5,507,675 1,192,463

Related Parties

Related Parties	3 Months Ended
	Feb. 26, 2023
Related Party Transactions [Abstract]
RELATED PARTIES	RELATED PARTIESCharles V. Bergh, President and Chief Executive Officer is a member of the board of directors of the Levi Strauss Foundation, which is not a consolidated entity of the Company. Seth R. Jaffe, Executive Vice President and Chief Legal Officer, is Vice President of the Levi Strauss Foundation. During the three months ended February 26, 2023, the Company donated $9.8 million to the Levi Strauss Foundation as compared to $11.4 million for the same prior-year period.

Business Segment Information

Business Segment Information	3 Months Ended
	Feb. 26, 2023
Segment Reporting [Abstract]
BUSINESS SEGMENT INFORMATION	BUSINESS SEGMENT INFORMATION The Company manages its business according to three reportable segments: Americas, Europe, and Asia, collectively comprising the Company's Levi's Brands business, which includes Levi's ® , Signature by Levi Strauss & Co.™ and Denizen ® brands. Other Brands, which includes Dockers ® and Beyond Yoga ® businesses do not meet the quantitative thresholds for reportable segments and therefore are presented under the caption of Other Brands. 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 segments’ net revenues and operating income. Business segment information for the Company is as follows: Three Months Ended February 26, February 27, (Dollars in millions) Net revenues: Americas $ 823.0 $ 765.9 Europe 455.1 469.4 Asia 289.5 258.4 Other Brands 121.3 97.9 Total net revenues $ 1,688.9 $ 1,591.6 Operating income: Americas $ 134.6 $ 177.8 Europe 117.4 136.8 Asia 53.7 43.6 Other Brands 3.4 9.6 Restructuring charges, net (11.4) 2.0 Corporate expenses (140.3) (135.6) Total operating income 157.4 234.2 Interest expense (10.7) (4.2) Other (expense) income, net (7.5) 15.9 Income before income taxes $ 139.2 $ 245.9

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	3 Months Ended
	Feb. 26, 2023
Accounting Policies [Abstract]
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 2023 and 2022 consists of 13 weeks. All references to years and quarters relate to fiscal years and quarters rather than calendar years and quarters.
Use of Estimates	Use of EstimatesThe 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.
Accounts Receivable	Accounts Receivable Accounts receivable are recorded net of an allowance for credit losses. The Company estimates the allowance for credit losses based on an analysis of the aging of accounts receivable, assessment of collectability, including any known or anticipated bankruptcies, customer-specific circumstances and an evaluation of current economic conditions.
Long-Lived Assets and Cloud Computing Arrangements	Long-Lived AssetsThe Company reviews its long-lived assets for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may be impaired. Impairment losses are measured and recorded for the excess of carrying value over its fair value, estimated based on expected future cash flows and other quantitative and qualitative factors.
Shares Repurchases	Share Repurchases During the three months ended February 26, 2023, the Company repurchased 0.5 million shares for $8.1 million, plus broker's commissions, in the open market. This equates to an average repurchase price of approximately $17.97 per share. During the three months ended February 27, 2022, the Company repurchased 3.0 million shares for $71.5 million, plus broker's commissions, in the open market. This equates to an average repurchase price of approximately $23.56 per share. The Company accounts for share repurchases by charging the excess of repurchase price over the repurchased Class A common stock's par value entirely to retained earnings. All repurchased shares are retired and become authorized but unissued shares. The Company accrues for the shares purchased under the share repurchase plan based on the trade date. The Company may terminate or limit the share repurchase program at any time.
New accounting pronouncements	Reclassification Certain amounts on the consolidated balance sheets and statements of cash flow have been conformed to the February 26, 2023 presentation. Recently Issued Accounting Standards

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Feb. 26, 2023
Inventory Disclosure [Abstract]
Schedule of Inventory, Current	The following table presents the Company's inventory balances: February 26, November 27, (Dollars in millions) Raw materials $ 13.7 $ 12.3 Work-in-progress 2.9 4.7 Finished goods 1,318.6 1,399.8 Total inventories $ 1,335.2 $ 1,416.8

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Feb. 26, 2023
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 26, 2023 November 27, 2022 Fair Value Estimated Fair Value Estimated Fair Value Level 1 Inputs (1) Level 2 Inputs (2) Fair Value Level 1 Inputs (1) Level 2 Inputs (2) (Dollars in millions) Financial assets carried at fair value Rabbi trust assets $ 72.1 $ 72.1 $ — $ 71.5 $ 71.5 $ — Short-term investments in marketable securities — — — 70.6 — 70.6 Derivative instruments (3) 11.9 — 11.9 21.5 — 21.5 Total $ 84.0 $ 72.1 $ 11.9 $ 163.6 $ 71.5 $ 92.1 Financial liabilities carried at fair value Derivative instruments (3) 21.1 — 21.1 8.1 — 8.1 Total $ 21.1 $ — $ 21.1 $ 8.1 $ — $ 8.1 _____________ (1) Fair values estimated using Level 1 inputs are inputs that 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 marketable equity 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. Short-term investments in marketable securities consist of fixed income securities. For forward foreign exchange contracts, inputs include foreign currency exchange and interest rates and, where applicable, credit default swap prices.
Available for sale investments	The following table presents the amortized cost, gross unrealized gains (losses) and fair values of the Company’s available for sale investments: November 27, 2022 Amortized Unrealized Unrealized Fair Value (Dollars in millions) Available for sale investments Short-term investments in marketable securities $ 71.1 $ 0.3 $ (0.8) $ 70.6
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 26, 2023 November 27, 2022 Carrying Estimated Fair Carrying Estimated Fair (Dollars in millions) Financial liabilities carried at adjusted historical cost 3.375% senior notes due 2027 (1) $ 507.0 $ 482.0 $ 493.9 $ 461.4 3.50% senior notes due 2031 (1) 502.6 408.7 498.1 404.3 Short-term borrowings 162.8 162.8 11.7 11.7 Total $ 1,172.4 $ 1,053.5 $ 1,003.7 $ 877.4 _____________ (1) Fair values are estimated using Level 2 inputs and incorporate mid-market price quotes. Level 2 inputs are inputs other than quoted prices, that are observable for the liability, either directly or indirectly and include among other things, quoted prices for similar liabilities in markets that are active or inactive as well as inputs other than quoted prices that are observable.

Derivative Instruments and He_2

Derivative Instruments and Hedging Activities (Tables)	3 Months Ended
	Feb. 26, 2023
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 and non-derivative instruments: February 26, 2023 November 27, 2022 Assets (Liabilities) Derivative Assets (Liabilities) Derivative Carrying Carrying Carrying Carrying (Dollars in millions) Derivatives designated as hedging instruments Foreign exchange risk cash flow hedges (1) $ 8.2 $ — $ 8.2 $ 15.6 $ — $ 15.6 Foreign exchange risk cash flow hedges (2) — (14.9) (14.9) — (7.2) (7.2) Total $ 8.2 $ (14.9) $ 15.6 $ (7.2) Derivatives not designated as hedging instruments Forward foreign exchange contracts (1) $ 11.9 $ (8.2) $ 3.7 $ 21.5 $ (15.6) $ 5.9 Forward foreign exchange contracts (2) 14.9 (21.1) (6.2) 7.2 (8.1) (0.9) Total $ 26.8 $ (29.3) $ 28.7 $ (23.7) Non-derivatives designated as hedging instruments Euro senior notes $ — $ (503.2) $ — $ (494.5) _____________ (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 26, 2023 November 27, 2022 Gross Amounts of Assets / (Liabilities) Gross Amounts Net Amounts Gross Amounts of Assets / (Liabilities) Gross Amounts Net Amounts (Dollars in millions) Foreign exchange risk contracts and forward foreign exchange contracts Financial assets $ 35.0 $ (22.1) $ 12.9 $ 44.3 $ (14.6) $ 29.7 Financial liabilities (44.2) 22.1 (22.1) (30.9) 14.6 (16.3) Total $ (9.2) $ 13.4
Gains and losses included in AOCI	The table below provides data about the amount of gains and losses related to derivative instruments designated as cash flow hedges and non-derivative instruments designated as net investment hedges included in AOCL on the Company’s consolidated balance sheets: Amount of Gain (Loss) Amount of Gain (Loss) Reclassified from AOCL into Net Income (1) As of February 26, 2023 As of November 27, 2022 Three Months Ended February 26, February 27, (Dollars in millions) Foreign exchange risk contracts $ 6.4 $ 22.6 $ 11.1 $ 0.6 Realized forward foreign exchange swaps (2) 4.6 4.6 — — Yen-denominated Eurobonds (19.8) (19.8) — — Euro-denominated senior notes (16.1) (7.4) — — Cumulative income taxes 12.5 7.2 — — Total $ (12.4) $ 7.2 _____________ (1) Amounts reclassified from AOCL were classified as net revenues and cost of goods sold on the Company's consolidated statements of income. (2) Prior to and during 2005, the Company used foreign exchange currency swaps to hedge the net investment in its foreign operations. For hedges that qualified for hedge accounting, the net gains were included in AOCL and are not reclassified to earnings until the related net investment position has been liquidated.
Gains and losses included in statements of income	The table below presents the effects of the Company's cash flow hedges of foreign exchange risk contracts on the consolidated statements of income: Three Months Ended February 26, February 27, (Dollars in millions) Amount of Gain (Loss) on Cash Flow Hedge Activity Net revenues $ 1.6 $ (0.9) Cost of goods sold $ 9.5 $ 1.5 The table below provides data about the amount of gains and losses related to derivatives instruments included in "Other (expense) income, net" in the Company's consolidated statements of income: Three Months Ended February 26, February 27, (Dollars in millions) Realized loss $ 9.4 $ (1.4) Unrealized gain (5.6) 3.7 Total $ 3.8 $ 2.3

Other Accrued Liabilities (Tabl

Other Accrued Liabilities (Tables)	3 Months Ended
	Feb. 26, 2023
Other Liabilities Disclosure [Abstract]
Other Liabilities	The following table presents the Company's other accrued liabilities: February 26, November 27, (Dollars in millions) Other accrued liabilities Accrued non-trade payables $ 185.9 $ 268.4 Accrued advertising and promotion 55.8 57.1 Taxes other than income taxes payable 48.6 53.2 Accrued property, plant and equipment 39.3 93.3 Accrued income taxes 35.1 13.1 Fair value derivatives 21.0 7.5 Restructuring liabilities 19.4 9.8 Accrued interest payable 17.3 8.0 Accrued rent 9.1 9.1 Other 124.7 130.8 Total other accrued liabilities $ 556.2 $ 650.3

Debt (Tables)

Debt (Tables)	3 Months Ended
	Feb. 26, 2023
Debt Disclosure [Abstract]
Schedule of long-term and short-term debt instruments	The following table presents the Company's debt: February 26, November 27, (Dollars in millions) Long-term debt Unsecured: 3.375% senior notes due 2027 $ 499.6 $ 490.6 3.50% senior notes due 2031 494.0 493.9 Total long-term debt $ 993.6 $ 984.5 Short-term debt Secured: Senior revolving credit facility $ 150.0 $ — Unsecured: Short-term borrowings 12.0 11.7 Total short-term debt $ 162.0 $ 11.7 Total debt $ 1,155.6 $ 996.2

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Feb. 26, 2023
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: Three Months Ended February 26, 2023 Pension and Postretirement Benefits (1) Translation Adjustments Unrealized (Loss) Gain on Marketable Securities (1) Derivative Instruments (2) Foreign Total (Dollars in millions) Accumulated other comprehensive (loss) income at November 27, 2022 $ (179.5) $ 7.2 $ (248.7) $ (0.7) $ (421.7) Other comprehensive income (loss) before reclassifications (0.5) (8.5) 20.3 0.1 11.4 Amounts reclassified from accumulated other comprehensive income (loss) 2.3 (11.1) — 0.6 (8.2) Net increase (decrease) in other comprehensive income (loss) 1.8 (19.6) 20.3 0.7 3.2 Accumulated other comprehensive (loss) income at February 26, 2023 $ (177.7) $ (12.4) $ (228.4) $ — $ (418.5) Three Months Ended February 27, 2022 Pension and Postretirement Benefits (1) Translation Adjustments Unrealized Gain (Loss) on Marketable Securities (1) Derivative Instruments (2) Foreign Total (Dollars in millions) Accumulated other comprehensive (loss) income at November 28, 2021 $ (195.5) $ (20.9) $ (196.8) $ 18.8 $ (394.4) Other comprehensive income (loss) before reclassifications (0.5) (2.5) (10.9) (4.7) (18.6) Amounts reclassified from accumulated other comprehensive income (loss) 2.2 (0.6) — — 1.6 Net increase (decrease) in other comprehensive income (loss) 1.7 (3.1) (10.9) (4.7) (17.0) Accumulated other comprehensive (loss) income at February 27, 2022 $ (193.8) $ (24.0) $ (207.7) $ 14.1 $ (411.4) _____________ (1) Amounts reclassified were recorded in other (expense) income, net. (2) Amounts reclassified were recorded within net revenues and cost of goods sold. For more information, refer to Note 4.

Net Revenues (Tables)

Net Revenues (Tables)	3 Months Ended
	Feb. 26, 2023
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The table below provides the Company's revenues disaggregated by segment and channel. Three Months Ended February 26, 2023 Levi's Brands Americas Europe Asia Other Brands Total (Dollars in millions) Net revenues by channel: Wholesale $ 530.6 $ 244.1 $ 134.0 $ 76.2 $ 984.9 Direct-to-consumer 292.4 211.0 155.5 45.1 704.0 Total net revenues $ 823.0 $ 455.1 $ 289.5 $ 121.3 $ 1,688.9 Three Months Ended February 27, 2022 Levi's Brands Americas Europe Asia Other Brands Total (Dollars in millions) Net revenues by channel: Wholesale $ 510.8 $ 265.7 $ 122.8 $ 63.8 $ 963.1 Direct-to-consumer 255.1 203.7 135.6 34.1 628.5 Total net revenues $ 765.9 $ 469.4 $ 258.4 $ 97.9 $ 1,591.6

Other Income, Net (Tables)

Other Income, Net (Tables)	3 Months Ended
	Feb. 26, 2023
Other Income and Expenses [Abstract]
Schedule of other nonoperating income (expense)	The following table summarizes significant components of "Other (expense) income, net": Three Months Ended February 26, February 27, (Dollars in millions) Foreign exchange management gains (1) $ 3.8 $ 2.3 Foreign currency transaction losses (2) (10.6) (2.2) Marketable securities losses (3) (1.1) — COVID-19 government subsidy gain (4) — 12.5 Other, net 0.4 3.3 Total other (expense) income, net $ (7.5) $ 15.9 _____________ (1) Gains on forward foreign exchange contracts primarily result from currency fluctuations relative to negotiated contract rates. (2) Foreign currency transaction losses reflect the impact of foreign currency fluctuation on the Company's foreign currency denominated balances. Losses in the three-month period ended February 26, 2023 were primarily due to U.S. Dollar weakening against the Euro and the Mexican Peso. (3) Marketable securities losses includes unrealized gains and losses from marketable equity securities held in an irrevocable grantor’s Rabbi trust in connection with the Company's deferred compensation plan.

Earnings Per Share Attributab_2

Earnings Per Share Attributable to Common Stockholders (Tables)	3 Months Ended
	Feb. 26, 2023
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table sets forth the computation of the Company's basic and diluted earnings per share: Three Months Ended February 26, February 27, (Dollars in millions, except per share amounts) Numerator: Net income $ 114.7 $ 195.8 Denominator: Weighted-average common shares outstanding - basic 395,956,182 399,445,106 Dilutive effect of stock awards 4,404,347 7,571,986 Weighted-average common shares outstanding - diluted 400,360,529 407,017,092 Earnings per common share attributable to common stockholders: Basic $ 0.29 $ 0.49 Diluted $ 0.29 $ 0.48 Anti-dilutive securities excluded from calculation of diluted earnings per share attributable to common stockholders 5,507,675 1,192,463

Business Segment Information (T

Business Segment Information (Tables)	3 Months Ended
	Feb. 26, 2023
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 26, February 27, (Dollars in millions) Net revenues: Americas $ 823.0 $ 765.9 Europe 455.1 469.4 Asia 289.5 258.4 Other Brands 121.3 97.9 Total net revenues $ 1,688.9 $ 1,591.6 Operating income: Americas $ 134.6 $ 177.8 Europe 117.4 136.8 Asia 53.7 43.6 Other Brands 3.4 9.6 Restructuring charges, net (11.4) 2.0 Corporate expenses (140.3) (135.6) Total operating income 157.4 234.2 Interest expense (10.7) (4.2) Other (expense) income, net (7.5) 15.9 Income before income taxes $ 139.2 $ 245.9

Significant Accounting Polici_3

Significant Accounting Policies - Narrative (Details) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Feb. 26, 2023 USD ($) region $ / shares shares	Feb. 27, 2022 USD ($) $ / shares shares	Nov. 27, 2022 USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of geographical regions | region	3
Allowance for credit loss	$ 7.2		$ 7.5
Impairment charges on long-lived assets	18.6
Accumulated depreciation	1,200		1,200
Operating lease right-of-use assets, net	955		970
Long-term operating lease liabilities	$ 838.2		$ 859.1
Shares repurchased (in shares) | shares	0.5	3
Repurchased value	$ 8.1	$ 71.5
Average repurchase price (in dollars per share) | $ / shares	$ 17.97	$ 23.56

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Feb. 26, 2023	Nov. 27, 2022
Inventory Disclosure [Abstract]
Raw materials	$ 13.7	$ 12.3
Work-in-progress	2.9	4.7
Finished goods	1,318.6	1,399.8
Inventories	$ 1,335.2	$ 1,416.8

Fair Value of Financial Instr_3

Fair Value of Financial Instruments-Fair Value (Details) - Fair Value, Recurring [Member] - USD ($) $ in Millions	Feb. 26, 2023	Nov. 27, 2022
Financial liabilities carried at fair value
Total	$ 21.1	$ 8.1
Fair Value [Member]
Financial assets carried at fair value
Rabbi trust assets	72.1	71.5
Short-term investments in marketable securities	0	70.6
Forward foreign exchange contracts	11.9	21.5
Total	84	163.6
Financial liabilities carried at fair value
Forward foreign exchange contracts	21.1	8.1
Fair Value [Member] | Level 1 Inputs [Member]
Financial assets carried at fair value
Rabbi trust assets	72.1	71.5
Short-term investments in marketable securities	0	0
Forward foreign exchange contracts	0	0
Total	72.1	71.5
Financial liabilities carried at fair value
Forward foreign exchange contracts	0	0
Total	0	0
Fair Value [Member] | Level 2 Inputs [Member]
Financial assets carried at fair value
Rabbi trust assets	0	0
Short-term investments in marketable securities	0	70.6
Forward foreign exchange contracts	11.9	21.5
Total	11.9	92.1
Financial liabilities carried at fair value
Forward foreign exchange contracts	21.1	8.1
Total	$ 21.1	$ 8.1

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Available for Sale Investments (Details) - Short-term Investments - Short-term investments in marketable securities $ in Millions	Nov. 27, 2022 USD ($)
Debt and Equity Securities, FV-NI [Line Items]
Amortized Cost	$ 71.1
Unrealized Gains	0.3
Unrealized Losses	(0.8)
Fair Value	$ 70.6

Fair Value of Financial Instr_5

Fair Value of Financial Instruments-Adjusted Historical Cost (Details) - USD ($) $ in Millions	Feb. 26, 2023	Nov. 27, 2022
Senior Notes | 3.375% Senior Notes Due 2027
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate	3.375%
Senior Notes | 3.50% Senior Notes Due 2031
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate	3.50%
Fair Value, Recurring [Member] | Carrying Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term debt carried at adjusted historical cost	$ 162.8	$ 11.7
Total financial liabilities carried at adjusted historical cost	1,172.4	1,003.7
Fair Value, Recurring [Member] | Carrying Value [Member] | Senior Notes | 3.375% Senior Notes Due 2027
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt carried at adjusted historical cost	507	493.9
Fair Value, Recurring [Member] | Carrying Value [Member] | Senior Notes | 3.50% Senior Notes Due 2031
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt carried at adjusted historical cost	502.6	498.1
Fair Value, Recurring [Member] | Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term debt carried at adjusted historical cost	162.8	11.7
Total financial liabilities carried at adjusted historical cost	1,053.5	877.4
Fair Value, Recurring [Member] | Fair Value [Member] | Senior Notes | 3.375% Senior Notes Due 2027
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt carried at adjusted historical cost	482	461.4
Fair Value, Recurring [Member] | Fair Value [Member] | Senior Notes | 3.50% Senior Notes Due 2031
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt carried at adjusted historical cost	$ 408.7	$ 404.3

Derivative Instruments and He_3

Derivative Instruments and Hedging Activities-Balance Sheet (Details) - USD ($) $ in Millions	Feb. 26, 2023	Nov. 27, 2022
Carrying Value [Member] | Designated as Hedging Instrument [Member] | Bonds [Member] | Euro Senior Notes [Member]
Carrying Value, Balance Sheet Location By Contract Type, By Hedging Designation [Line Items]
Hedging assets	$ 0	$ 0
Hedging liabilities	(503.2)	(494.5)
Forward foreign exchange contracts [Member]
Carrying Value, Balance Sheet Location By Contract Type, By Hedging Designation [Line Items]
Derivative asset, gross asset	35	44.3
Derivative asset, gross liability	(22.1)	(14.6)
Derivative asset	12.9	29.7
Derivative liability, gross asset	22.1	14.6
Derivative Liability, gross liability	(44.2)	(30.9)
Derivative Liability	(22.1)	(16.3)
Derivative, Fair Value, Net	(9.2)	13.4
Forward foreign exchange contracts [Member] | Carrying Value [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member]
Carrying Value, Balance Sheet Location By Contract Type, By Hedging Designation [Line Items]
Derivative asset	8.2	15.6
Derivative Liability	(14.9)	(7.2)
Forward foreign exchange contracts [Member] | Carrying Value [Member] | Designated as Hedging Instrument [Member] | Other non-current assets [Member] | Cash Flow Hedging [Member]
Carrying Value, Balance Sheet Location By Contract Type, By Hedging Designation [Line Items]
Derivative asset, gross asset	8.2	15.6
Derivative asset, gross liability	0	0
Derivative asset, Net Carrying Value	8.2	15.6
Forward foreign exchange contracts [Member] | Carrying Value [Member] | Designated as Hedging Instrument [Member] | Other long-term liabilities [Member] | Cash Flow Hedging [Member]
Carrying Value, Balance Sheet Location By Contract Type, By Hedging Designation [Line Items]
Derivative liability, gross asset	0	0
Derivative Liability, gross liability	(14.9)	(7.2)
Derivative liability, Net Carrying Value	(14.9)	(7.2)
Forward foreign exchange contracts [Member] | Carrying Value [Member] | Not Designated as Hedging Instrument [Member]
Carrying Value, Balance Sheet Location By Contract Type, By Hedging Designation [Line Items]
Derivative asset	26.8	28.7
Derivative Liability	(29.3)	(23.7)
Forward foreign exchange contracts [Member] | Carrying Value [Member] | Not Designated as Hedging Instrument [Member] | Other non-current assets [Member]
Carrying Value, Balance Sheet Location By Contract Type, By Hedging Designation [Line Items]
Derivative asset, gross asset	11.9	21.5
Derivative asset, gross liability	(8.2)	(15.6)
Derivative asset, Net Carrying Value	3.7	5.9
Forward foreign exchange contracts [Member] | Carrying Value [Member] | Not Designated as Hedging Instrument [Member] | Other long-term liabilities [Member]
Carrying Value, Balance Sheet Location By Contract Type, By Hedging Designation [Line Items]
Derivative liability, gross asset	14.9	7.2
Derivative Liability, gross liability	(21.1)	(8.1)
Derivative liability, Net Carrying Value	(6.2)	$ (0.9)
Long [Member]
Carrying Value, Balance Sheet Location By Contract Type, By Hedging Designation [Line Items]
Foreign exchange contracts	993.9
Short [Member]
Carrying Value, Balance Sheet Location By Contract Type, By Hedging Designation [Line Items]
Foreign exchange contracts	$ 645.9

Derivative Instruments and He_4

Derivative Instruments and Hedging Activities-Income Statement (Details) - USD ($) $ in Millions	3 Months Ended
	Feb. 26, 2023	Feb. 27, 2022	Nov. 27, 2022
Amount of Gain (Loss) Recognized in AOCL (Effective Portion)
Cumulative income taxes, gain or (loss) recognized in AOCI	$ 12.5		$ 7.2
Total, gain or (loss) recognized in AOCI	(12.4)		7.2
Amount of Gain (Loss) Reclassified from AOCI into Net Income
Cumulative income taxes, gain or (loss) reclassified from AOCI	0	$ 0
Forward foreign exchange contracts [Member]
Amount of Gain (Loss) Recognized in AOCL (Effective Portion)
Forward foreign exchange contracts, gain or (loss) recognized in AOCI	6.4		22.6
Amount of Gain (Loss) Reclassified from AOCI into Net Income
Forward foreign exchange contracts, gain or (loss) reclassified from AOCI	11.1	0.6
Forward foreign exchange contracts [Member]
Amount of Gain (Loss) Recognized in AOCL (Effective Portion)
Forward foreign exchange contracts, gain or (loss) recognized in AOCI	4.6		4.6
Amount of Gain (Loss) Reclassified from AOCI into Net Income
Forward foreign exchange contracts, gain or (loss) reclassified from AOCI	0	0
Yen-denominated Eurobonds [Member] | Bonds [Member]
Amount of Gain (Loss) Recognized in AOCL (Effective Portion)
Non-derivative hedging instruments-gain or (loss) recognized in AOCI	(19.8)		(19.8)
Amount of Gain (Loss) Reclassified from AOCI into Net Income
Non-derivative hedging instruments, gain or (loss) reclassified from AOCI	0	0
Euro Senior Notes [Member] | Senior Notes
Amount of Gain (Loss) Recognized in AOCL (Effective Portion)
Non-derivative hedging instruments-gain or (loss) recognized in AOCI	(16.1)		$ (7.4)
Amount of Gain (Loss) Reclassified from AOCI into Net Income
Non-derivative hedging instruments, gain or (loss) reclassified from AOCI	$ 0	$ 0

Derivative Instruments and He_5

Derivative Instruments and Hedging Activities-Realized & Unrealized (Details) - USD ($) $ in Millions	3 Months Ended
	Feb. 26, 2023	Feb. 27, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Cash flow hedges expected to be reclassified from AOCI into net income within next 12 months	$ 8.1
Revenues [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) on Cash Flow Hedge Activity	1.6	$ (0.9)
Cost of Goods Sold
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) on Cash Flow Hedge Activity	9.5	1.5
Forward foreign exchange contracts [Member] | Other Income [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Realized	9.4	(1.4)
Unrealized	(5.6)	3.7
Total	$ 3.8	$ 2.3

Other Accrued Liabilities (Deta

Other Accrued Liabilities (Details) - USD ($) $ in Millions	Feb. 26, 2023	Nov. 27, 2022
Other Liabilities Disclosure [Abstract]
Accrued non-trade payables	$ 185.9	$ 268.4
Accrued advertising and promotion	55.8	57.1
Taxes other than income taxes payable	48.6	53.2
Accrued property, plant and equipment	39.3	93.3
Accrued income taxes	35.1	13.1
Fair value derivatives	21	7.5
Restructuring liabilities	19.4	9.8
Accrued interest payable	17.3	8
Accrued rent	9.1	9.1
Other	124.7	130.8
Total other accrued liabilities	$ 556.2	$ 650.3

Debt-Table (Details)

Debt-Table (Details) - USD ($) $ in Millions	Feb. 26, 2023	Nov. 27, 2022
Schedule of Long-term and Short-term Debt Instruments [Line Items]
Long-term debt	$ 993.6	$ 984.5
Short-term debt	162	11.7
Total debt	1,155.6	996.2
3.375% Senior Notes Due 2027 | Senior Notes
Schedule of Long-term and Short-term Debt Instruments [Line Items]
Long-term debt	$ 499.6	490.6
Stated interest rate	3.375%
3.50% Senior Notes Due 2031 | Senior Notes
Schedule of Long-term and Short-term Debt Instruments [Line Items]
Long-term debt	$ 494	493.9
Stated interest rate	3.50%
Line of Credit | Senior revolving credit facility
Schedule of Long-term and Short-term Debt Instruments [Line Items]
Short-term debt	$ 150	0
Borrowings
Schedule of Long-term and Short-term Debt Instruments [Line Items]
Short-term debt	$ 12	$ 11.7

Debt-Textuals (Details)

Debt-Textuals (Details) - USD ($)		3 Months Ended
	Feb. 27, 2023	Feb. 26, 2023	Feb. 27, 2022	Nov. 27, 2022
Debt Instruments [Line Items]
Proceeds from senior revolving credit facility		$ 150,000,000	$ 0
Short-term debt		$ 162,000,000		$ 11,700,000
Weighted-average interest rate		3.86%	3.83%
Senior revolving credit facility | Line of Credit
Debt Instruments [Line Items]
Short-term debt		$ 150,000,000		$ 0
Senior revolving credit facility | Subsequent Event | Line of Credit
Debt Instruments [Line Items]
Short-term debt	$ 200,000,000
Senior revolving credit facility
Debt Instruments [Line Items]
Letter of credit limit		835,100,000
Total availability		850,000,000
Letters of credit and other credit usage		$ 14,900,000
Line of Credit | Senior revolving credit facility | Subsequent Event
Debt Instruments [Line Items]
Proceeds from senior revolving credit facility	$ 50,000,000

Restructuring Activities (Detai

Restructuring Activities (Details) - USD ($) $ in Millions	3 Months Ended
	Feb. 26, 2023	Feb. 27, 2022
Restructuring and Related Activities [Abstract]
Restructuring charges, net	$ 11.4
Impairment charges of capitalized internal-use software	$ 18.2
Net reduction in restructuring charges		$ 2

Dividends (Details)

Dividends (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	May 28, 2023	Feb. 26, 2023	Feb. 27, 2022	May 04, 2023	Jan. 31, 2023	Jan. 31, 2022
Class of Stock [Line Items]
Dividend, fix amount (in dollars per share)					$ 0.12	$ 0.10
Dividend to stockholders		$ 47.6	$ 39.9
Forecast
Class of Stock [Line Items]
Dividend, fix amount (in dollars per share)				$ 0.12
Dividend to stockholders	$ 47

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended
	Feb. 26, 2023	Feb. 27, 2022
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Other comprehensive income (loss) before reclassifications	$ 11.4	$ (18.6)
Amounts reclassified from accumulated other comprehensive income (loss)	(8.2)	1.6
Net increase (decrease) in other comprehensive income (loss)	3.2	(17)
Pension and Postretirement Benefits
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Accumulated other comprehensive (loss) income at beginning period	(179.5)	(195.5)
Other comprehensive income (loss) before reclassifications	(0.5)	(0.5)
Amounts reclassified from accumulated other comprehensive income (loss)	2.3	2.2
Net increase (decrease) in other comprehensive income (loss)	1.8	1.7
Accumulated other comprehensive (loss) income at ending period	(177.7)	(193.8)
Derivative Instruments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Accumulated other comprehensive (loss) income at beginning period	7.2	(20.9)
Other comprehensive income (loss) before reclassifications	(8.5)	(2.5)
Amounts reclassified from accumulated other comprehensive income (loss)	(11.1)	(0.6)
Net increase (decrease) in other comprehensive income (loss)	(19.6)	(3.1)
Accumulated other comprehensive (loss) income at ending period	(12.4)	(24)
Foreign Currency Translation
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Accumulated other comprehensive (loss) income at beginning period	(248.7)	(196.8)
Other comprehensive income (loss) before reclassifications	20.3	(10.9)
Amounts reclassified from accumulated other comprehensive income (loss)	0	0
Net increase (decrease) in other comprehensive income (loss)	20.3	(10.9)
Accumulated other comprehensive (loss) income at ending period	(228.4)	(207.7)
Unrealized Gain (Loss) on Marketable Securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Accumulated other comprehensive (loss) income at beginning period	(0.7)	18.8
Other comprehensive income (loss) before reclassifications	0.1	(4.7)
Amounts reclassified from accumulated other comprehensive income (loss)	0.6	0
Net increase (decrease) in other comprehensive income (loss)	0.7	(4.7)
Accumulated other comprehensive (loss) income at ending period	0	14.1
Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Accumulated other comprehensive (loss) income at beginning period	(421.7)	(394.4)
Accumulated other comprehensive (loss) income at ending period	$ (418.5)	$ (411.4)

Net Revenues - Disaggregation o

Net Revenues - Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended
	Feb. 26, 2023	Feb. 27, 2022
Disaggregation of Revenue [Line Items]
Net revenues	$ 1,688.9	$ 1,591.6
Wholesale
Disaggregation of Revenue [Line Items]
Net revenues	984.9	963.1
Direct-to-consumer
Disaggregation of Revenue [Line Items]
Net revenues	704	628.5
Americas
Disaggregation of Revenue [Line Items]
Net revenues	823	765.9
Americas | Wholesale
Disaggregation of Revenue [Line Items]
Net revenues	530.6	510.8
Americas | Direct-to-consumer
Disaggregation of Revenue [Line Items]
Net revenues	292.4	255.1
Europe
Disaggregation of Revenue [Line Items]
Net revenues	455.1	469.4
Europe | Wholesale
Disaggregation of Revenue [Line Items]
Net revenues	244.1	265.7
Europe | Direct-to-consumer
Disaggregation of Revenue [Line Items]
Net revenues	211	203.7
Asia
Disaggregation of Revenue [Line Items]
Net revenues	289.5	258.4
Asia | Wholesale
Disaggregation of Revenue [Line Items]
Net revenues	134	122.8
Asia | Direct-to-consumer
Disaggregation of Revenue [Line Items]
Net revenues	155.5	135.6
Other Brands
Disaggregation of Revenue [Line Items]
Net revenues	121.3	97.9
Other Brands | Wholesale
Disaggregation of Revenue [Line Items]
Net revenues	76.2	63.8
Other Brands | Direct-to-consumer
Disaggregation of Revenue [Line Items]
Net revenues	$ 45.1	$ 34.1

Other Income, Net (Details)

Other Income, Net (Details) - USD ($) $ in Millions	3 Months Ended
	Feb. 26, 2023	Feb. 27, 2022
Other Income and Expenses [Abstract]
Foreign exchange management gains (losses)	$ 3.8	$ 2.3
Foreign currency transaction (losses) gains	(10.6)	(2.2)
Marketable securities losses	(1.1)	0
COVID-19 government subsidy gain	0	12.5
Other, net	0.4	3.3
Total other (expense) income, net	$ (7.5)	$ 15.9

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
	Feb. 26, 2023	Feb. 27, 2022
Income Tax Disclosure [Abstract]
Effective income tax rate	17.60%	20.40%
Income tax expense	$ 24.5	$ 50.1

Earnings Per Share Attributab_3

Earnings Per Share Attributable to Common Stockholders - Schedule of Computation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Feb. 26, 2023	Feb. 27, 2022
Numerator:
Net income	$ 114.7	$ 195.8
Denominator:
Weighted-average common shares outstanding - basic (in shares)	395,956,182	399,445,106
Dilutive effect of stock awards (in shares)	4,404,347	7,571,986
Weighted-average common shares outstanding - diluted (in shares)	400,360,529	407,017,092
Earnings per common share attributable to common stockholders:
Basic (usd per share)	$ 0.29	$ 0.49
Diluted (usd per share)	$ 0.29	$ 0.48
Anti-dilutive securities excluded from calculation of diluted earnings per share attributable to common stockholders (in shares)	5,507,675	1,192,463

Related Parties (Details)

Related Parties (Details) - USD ($) $ in Millions	3 Months Ended
	Feb. 26, 2023	Feb. 27, 2022
Levi Strauss Foundation
Related Party Transaction [Line Items]
Related Party Donations	$ 9.8	$ 11.4

Business Segment Information (D

Business Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Feb. 26, 2023	Feb. 27, 2022
Segment Reporting Information [Line Items]
Net revenues	$ 1,688,900	$ 1,591,600
Operating income (loss)	157,400	234,200
Interest expense	(10,700)	(4,200)
Other (expense) income, net	(7,500)	15,900
Income before income taxes	139,200	245,900
Asset impairment charges	14,900	0
Americas
Segment Reporting Information [Line Items]
Net revenues	823,000	765,900
Operating income (loss)	134,600	177,800
Europe
Segment Reporting Information [Line Items]
Net revenues	455,100	469,400
Operating income (loss)	117,400	136,800
Asia
Segment Reporting Information [Line Items]
Net revenues	289,500	258,400
Operating income (loss)	53,700	43,600
Other Brands
Segment Reporting Information [Line Items]
Net revenues	121,300	97,900
Operating income (loss)	3,400	9,600
Corporate Segment
Segment Reporting Information [Line Items]
Restructuring charges, net	11,400	2,000
Corporate expenses	$ (140,300)	$ (135,600)