$LEVI

LEVI STRAUSS & CO

CIK:0000094845|SEC Filings

Consolidated Statements of Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Consolidated Statements of Income - USD ($) $ in Millions	Aug. 30, 2026	Aug. 31, 2025	Aug. 30, 2026	Aug. 31, 2025
Income Statement [Abstract]
Net revenues	$ 1,609.7	$ 1,543.4	$ 4,914.2	$ 4,516.2
Cost of goods sold	543.9	591.8	1,791.0	1,711.2
Gross profit	1,065.8	951.6	3,123.2	2,805.0
Selling, general and administrative expenses	835.9	775.6	2,551.0	2,315.9
Restructuring charges, net	7.6	8.6	29.0	22.1
Operating income	222.3	167.4	543.2	467.0
Interest expense	(12.9)	(12.5)	(38.9)	(35.2)
Other income (expense), net	10.7	1.3	66.2	3.5
Income from continuing operations before income taxes	220.1	156.2	570.5	435.3
Income tax expense	51.5	34.2	130.0	93.5
Net income from continuing operations	168.6	122.0	440.5	341.8
Net income (loss) from discontinued operations, net of taxes	0.0	96.1	(8.8)	78.3
Net income	$ 168.6	$ 218.1	$ 431.7	$ 420.1
Earnings (loss) per common share:
Continuing operations - Basic (usd per share)	$ 0.44	$ 0.31	$ 1.13	$ 0.87
Discontinued operations - Basic (usd per share)	0	0.24	(0.02)	0.19
Net income - Basic (usd per share)	0.44	0.55	1.11	1.06
Continuing operations - Diluted (usd per share)	0.43	0.31	1.12	0.86
Discontinued operations - Diluted (usd per share)	0	0.24	(0.02)	0.19
Net income - Diluted (usd per share)	$ 0.43	$ 0.55	$ 1.10	$ 1.05
Weighted-average common shares outstanding:
Basic (in shares)	386,075,414	395,659,040	387,596,613	396,578,375
Diluted (in shares)	390,620,582	399,529,649	392,098,306	400,401,333

Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Aug. 30, 2026	Aug. 31, 2025
Cash Flows from Operating Activities:
Net income	$ 431.7	$ 420.1
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	167.6	151.4
Property, plant, equipment impairment, and early lease terminations, net	6.7	15.6
Gain on sale of business, prior to costs to sell	(33.6)	(155.6)
Stock-based compensation	58.8	67.8
Deferred income taxes	9.7	8.2
Other, net	(7.0)	(19.6)
Net change in operating assets and liabilities	(48.7)	(225.1)
Net cash provided by operating activities	585.2	262.8
Cash Flows from Investing Activities:
Proceeds from sale of business	96.3	194.7
Purchases of property, plant and equipment	(157.9)	(170.3)
Net proceeds from sales of assets	0.0	22.4
(Payments) proceeds on settlement of forward foreign exchange contracts not designated for hedge accounting, net	(179.7)	37.1
Payments to acquire short-term investments	(130.3)	(109.8)
Proceeds from sale, maturity and collection of short-term investments	84.4	16.2
Other investing activities, net	(7.4)	0.0
Net cash used for investing activities	(294.6)	(9.7)
Cash Flows from Financing Activities:
Proceeds from issuance of long-term debt, net of issuance costs	0.0	543.8
Repayments of long-term debt	0.0	(550.4)
Accelerated share repurchase, including excise tax	(201.0)	(120.0)
Repurchase of common stock	0.0	(30.5)
Tax withholdings on equity awards	(34.5)	(20.9)
Dividends to stockholders	(169.3)	(158.2)
Other financing activities, net	(0.8)	(0.9)
Net cash used for financing activities	(405.6)	(337.1)
Effect of exchange rate changes on cash and cash equivalents and restricted cash	(1.5)	6.8
Net increase (decrease) in cash and cash equivalents and restricted cash	(116.5)	(77.2)
Beginning cash and cash equivalents	757.9	690.0
Ending cash and cash equivalents	641.4	612.8
Noncash Investing Activity:
Property, plant and equipment acquired and not yet paid at end of period	27.7	38.9
Supplemental Disclosure of Cash Flow Information:
Cash paid for income taxes during the period, net of refunds	$ 142.8	$ 119.0

Consolidated Balance Sheets - USD ($) $ in Millions	Aug. 30, 2026	Nov. 30, 2025
Current Assets:
Cash and cash equivalents	$ 641.4	$ 757.9
Short-term investments in marketable securities	137.9	90.9
Trade receivables, net	745.2	774.7
Inventories	1,253.6	1,237.7
Other current assets	463.7	238.5
Current assets held for sale	0.0	54.0
Total current assets	3,241.8	3,153.7
Property, Plant, and Equipment, after Accumulated Depreciation, Depletion, and Amortization	655.8	681.8
Goodwill	285.0	280.6
Other intangible assets, net	192.9	194.4
Deferred tax assets, net	834.6	830.1
Operating lease right-of-use assets, net	1,173.4	1,148.2
Other non-current assets	545.6	538.7
Non-current assets held for sale	0.0	21.3
Total assets	6,929.1	6,848.8
Current Liabilities:
Accounts payable	684.8	597.6
Accrued salaries, wages and employee benefits	228.7	244.7
Accrued sales returns and allowances	216.7	226.1
Short-term operating lease liabilities	275.8	260.7
Other accrued liabilities	585.0	703.4
Total current liabilities	1,991.0	2,032.5
Long-term debt	1,043.6	1,039.2
Long-term operating lease liabilities	1,011.1	1,005.6
Long-term employee related benefits	243.3	252.7
Other long-term liabilities	225.1	240.2
Total liabilities	4,514.1	4,570.2
Commitments and contingencies
Stockholders’ Equity:
Common stock — $0.001 par value; 1,200,000,000 Class A shares authorized, 99,254,572 shares and 103,620,225 shares issued and outstanding as of August 30, 2026 and November 30, 2025, respectively; and 422,000,000 Class B shares authorized, 284,215,167 shares and 286,756,831 shares issued and outstanding, as of August 30, 2026 and November 30, 2025, respectively	0.4	0.4
Additional paid-in capital	811.8	788.1
Accumulated other comprehensive loss	(361.4)	(407.2)
Retained earnings	1,964.2	1,897.3
Total stockholders’ equity	2,415.0	2,278.6
Total liabilities and stockholders’ equity	6,929.1	6,848.8
Long-Term Debt, Excluding Current Maturities	$ 1,043.6	$ 1,039.2