McCormick & Company Incorporated (MKC) Financial Statements (2024 and earlier)

Company Profile

Business Address 24 SCHILLING ROAD
HUNT VALLEY, MD 21031
State of Incorp. MD
Fiscal Year End November 30
Industry (SIC) 209 - Miscellaneous Food Preparations And Kindred (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in millions)

2/29/2024
MRQ
11/30/2023
11/30/2022
11/30/2021
11/30/2020
11/30/2019
11/30/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments16733435242415597
Cash and cash equivalents16733435242415597
Receivables588574550529503518
Inventory, net of allowances, customer advances and progress billings1,1271,3401,1821,033801786
Inventory1,1271,3401,1821,033801786
Prepaid expense 486242383627
Other current assets 737771615552
Other undisclosed current assets      
Total current assets:2,0022,3872,1962,0841,5501,480
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization 95103112121 
Operating lease, right-of-use asset 220219137137 
Property, plant and equipment1,3251,1981,1401,028953985
Long-term investments and receivables 115115137130124121
Long-term investments 115115137130124121
Intangible assets, net (including goodwill)8,6178,6018,7888,2267,3527,401
Goodwill5,2605,2135,3364,9864,5054,528
Intangible assets, net (excluding goodwill)3,3573,3883,4533,2392,8472,873
Other undisclosed noncurrent assets489502395365383269
Total noncurrent assets:10,86110,73810,71010,0068,8128,777
TOTAL ASSETS:12,86213,12512,90612,09010,36210,256
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities2,0271,9251,9141,8961,4561,358
Accounts payable1,1191,1711,0641,032847710
Accrued liabilities908754850864609648
Debt1,0721,5071,3091,151698644
Total current liabilities:3,0993,4323,2243,0472,1542,002
Noncurrent Liabilities
Long-term debt and lease obligation3,3403,6423,9733,7543,6264,053
Long-term debt, excluding current maturities3,3403,6423,9733,7543,6264,053
Liabilities, other than long-term debt1,3401,3511,2831,3491,1251,020
Deferred tax liabilities, net698707
Deferred income tax liabilities861866792727 
Other liabilities479485491622428313
Total noncurrent liabilities:4,6804,9935,2575,1034,7515,073
Total liabilities:7,7798,4268,4808,1506,9057,074
Equity
Equity, attributable to parent, including:5,0614,6814,4113,9263,4441,400
Accumulated other comprehensive loss(389)(481)(427)(471)(500)(360)
Retained earnings3,2503,0232,7822,4162,0561,760
Other undisclosed equity, attributable to parent2,2002,1392,0551,9811,889 
Equity, attributable to noncontrolling interest231915141311
Other undisclosed equity      1,771
Total equity:5,0844,6994,4263,9403,4573,182
TOTAL LIABILITIES AND EQUITY:12,86213,12512,90612,09010,36210,256

Income Statement (P&L) ($ in millions)

2/29/2024
TTM
11/30/2023
11/30/2022
11/30/2021
11/30/2020
11/30/2019
11/30/2018
Revenues6,6626,3516,3185,6015,3475,409
Cost of revenue
(Cost of Goods and Services Sold)
(4,160)(4,076)(3,823)(3,301)(3,202)(3,037)
Gross profit:2,5032,2752,4952,3002,1452,372
Operating expenses(1,478)(1,359)(1,433)(1,294)(1,167)(1,452)
Other undisclosed operating loss(61)(52)(46)(7)(21)(16)
Operating income:9638641,0151,000958903
Nonoperating income
(Other Nonoperating income)
449817182713
Interest and debt expense(208)(149)(137)(136)(165)(175)
Income from continuing operations before equity method investments, income taxes:799813896882819741
Income from equity method investments563852414135
Income from continuing operations before income taxes:855851948922860776
Income tax expense (benefit)(175)(169)(193)(175)(157)157
Income from continuing operations:681682755747703933
Income before gain (loss) on sale of properties:755747703933
Net income:681682755747703933
Net income attributable to noncontrolling interest668423
Other undisclosed net loss attributable to parent(6)(6)(8)(4)(2)(3)
Net income available to common stockholders, diluted:681682755747703933

Comprehensive Income ($ in millions)

2/29/2024
TTM
11/30/2023
11/30/2022
11/30/2021
11/30/2020
11/30/2019
11/30/2018
Net income:681682755747703933
Other comprehensive income (loss)91(56)3727(141)(62)
Comprehensive income:771626792774562871
Comprehensive income, net of tax, attributable to noncontrolling interest668423
Other undisclosed comprehensive income, net of tax, attributable to parent      
Comprehensive income, net of tax, attributable to parent:777632800778564875

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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