McCormick & Co. Files 2024 10-K, Reports $19.3B in Assets

TL;DR

McCormick's 2024 10-K is in: $19.3B assets, details on debt & expenses. All good.

AI Summary

McCormick & Company, Inc. filed its 2024 10-K on January 23, 2025, reporting total assets of $19,353,507,870 as of November 30, 2024. The filing details various financial aspects including property, plant, and equipment, long-term debt, and interest expense. The company, headquartered in Hunt Valley, MD, operates in the miscellaneous food preparations sector.

Why It Matters

This 10-K filing provides a comprehensive overview of McCormick & Co.'s financial health and operational status for the fiscal year ending November 30, 2024, crucial for investors and stakeholders to assess performance and future outlook.

Risk Assessment

Risk Level: low — The filing is a standard annual report and does not indicate any immediate or unusual risks.

Key Numbers

• $19.3B — Total Assets (As of November 30, 2024, indicating the company's overall size.)

Key Players & Entities

• McCormick & Company, Inc. (company) — Filer of the 10-K
• 2024 (date) — Fiscal year end
• November 30, 2024 (date) — Fiscal year end date
• $19,353,507,870 (dollar_amount) — Total assets reported
• Hunt Valley, MD (location) — Company headquarters

FAQ

Key Financial Figures

• $0.01 — ich Registered Common Stock, Par Value $0.01 per share MKC.V New York Stock Exchange
• $1,153,048,198 — held by non-affiliates at May 31, 2024: $1,153,048,198 The aggregate market value of the Non-
• $18,200,459,672 — held by non-affiliates at May 31, 2024: $18,200,459,672 Indicate the number of shares outstand

Filing Documents

• mkc-20241130.htm (10-K) — 2527KB
• mkc-11302024xex19.htm (EX-19) — 55KB
• mkc-11302024xex21.htm (EX-21) — 20KB
• mkc-11302024xex23.htm (EX-23) — 13KB
• mkc-11302024xex311.htm (EX-31.1) — 8KB
• mkc-11302024xex312.htm (EX-31.2) — 8KB
• mkc-11302024xex321.htm (EX-32.1) — 4KB
• mkc-11302024xex322.htm (EX-32.2) — 4KB
• mkc-20241130_g1.jpg (GRAPHIC) — 40KB
• mkc-20241130_g2.jpg (GRAPHIC) — 8KB
• mkc-20241130_g3.jpg (GRAPHIC) — 7KB
• mkc-20241130_g4.jpg (GRAPHIC) — 235KB
• mkc-20241130_g5.jpg (GRAPHIC) — 3KB
• 0000063754-25-000005.txt ( ) — 16518KB
• mkc-20241130.xsd (EX-101.SCH) — 89KB
• mkc-20241130_cal.xml (EX-101.CAL) — 148KB
• mkc-20241130_def.xml (EX-101.DEF) — 667KB
• mkc-20241130_lab.xml (EX-101.LAB) — 1175KB
• mkc-20241130_pre.xml (EX-101.PRE) — 938KB
• mkc-20241130_htm.xml (XML) — 2898KB

BUSINESS

ITEM 1. BUSINESS McCormick is a global leader in flavor. We manufacture, market, and distribute spices, seasoning mixes, condiments, and other flavorful products to the entire food industry: retailers, food manufacturers, and foodservice businesses. We also are partners in a number of joint ventures that are involved in the manufacture and sale of flavorful products, the most significant of which is McCormick de Mexico. Our major sales, distribution, and production facilities are located in North America, Europe, and China. Additional facilities are based in Australia, Central America, Thailand, and South Africa. Business Segments We operate in two business segments: consumer and flavor solutions. Demand for flavor is growing globally, and across both segments, we have the customer base and product breadth to participate in all types of eating occasions. Our products deliver flavor when cooking at home, dining out, purchasing a quick service meal, or enjoying a snack. We offer our customers and consumers a range of products, extending from premium to value-priced, to meet the increasing demand for certain product attributes such as clean-label, organic, natural, reduced sodium, gluten-free, and non-GMO (genetically modified organisms). Consistent with market conditions in each segment, our consumer segment has a higher overall profit margin than our flavor solutions segment. In 2024, the consumer segment contributed approximately 57% of consolidated net sales and 69% of consolidated operating income, and the flavor solutions segment contributed approximately 43% of consolidated net sales and 31% of consolidated operating income. Consumer Segment. From locations around the world, our brands reach consumers in approximately 150 countries and territories. Our leading brands in the Americas include McCormick , French's , Frank's RedHot , Lawry's , Cholula Hot Sauce , and Club House , as well as brands such as Gourmet Garden and OLD BAY . We also market authentic re

RISK FACTORS

ITEM 1A. RISK FACTORS The following are certain risk factors that could affect our business, financial condition and results of operations. These risk factors should be considered in connection with evaluating the forward-looking statements contained in this Annual Report on Form 10-K because these factors could cause the actual results and conditions to differ materially from those projected in forward-looking statements. Before you buy our Common Stock or Common Stock Non-Voting, you should know that making such an investment involves risks, including the risks described below. It is not possible for management to predict all such risks, nor can management assess the impact of all such risks on our business or the extent to which any risk, or combination of risks, may cause actual results to differ materially from those contained in any forward-looking statements. Additional risks and uncertainties that are not presently known to us or are currently deemed to be immaterial also may materially adversely affect our business, financial condition, or results of operations in the future. If any of the risks actually occur, our business, financial condition or results of operations could be negatively affected. In that case, the trading price of

View Full Filing

View this 10-K filing on SEC EDGAR