McCormick & Company Cash Flow Statement

Financials in millions USD. Fiscal year is December - November.

Millions USD. Fiscal year is Dec - Nov.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Nov '25 Nov 30, 2025	Nov '24 Nov 30, 2024	Nov '23 Nov 30, 2023	Nov '22 Nov 30, 2022	Nov '21 Nov 30, 2021
Net Income	789.4	788.5	680.6	682	755.3
Depreciation & Amortization	207	186.9	178.6	175.5	173.7
Other Amortization	24.3	21.9	19.1	18.9	12.6
Loss (Gain) From Sale of Assets	-	-2.1	1.4	-63.7	0.2
Asset Writedown & Restructuring Costs	-	-	1.6	16.2	17.2
Loss (Gain) on Equity Investments	-72.2	-74.2	-56.4	-37.8	-52.2
Stock-Based Compensation	46.2	47.4	63.4	60.3	66.6
Other Operating Activities	51.3	36.5	79.7	55.8	77.7
Change in Accounts Receivable	-14.7	-20.5	3.4	-45.8	-22.6
Change in Inventory	23.9	-125	225	-205.3	-153.7
Change in Accounts Payable	1.2	135.1	-68.1	125.3	34.9
Change in Other Net Operating Assets	-94.2	-72.6	109	-129.9	-81.4
Operating Cash Flow	962.2	921.9	1,237	651.5	828.3
Operating Cash Flow Growth	4.37%	-25.49%	89.92%	-21.34%	-20.46%
Capital Expenditures	-221.8	-274.9	-263.9	-262	-278
Cash Acquisitions	-34.1	-	-	-	-706.4
Divestitures	-	-	1	95.2	-
Sale (Purchase) of Intangibles	-	-	-	13.6	-
Investment in Securities	-	-	-	-	65.4
Other Investing Activities	0.7	5.9	2.4	6.8	10.4
Investing Cash Flow	-255.2	-269	-260.5	-146.4	-908.6
Short-Term Debt Issued	-	211.1	-	698.3	-
Long-Term Debt Issued	2.7	495.5	496.4	-	1,002
Total Debt Issued	2.7	706.6	496.4	698.3	1,002
Short-Term Debt Repaid	-101.4	-	-964.6	-	-346.7
Long-Term Debt Repaid	-267.9	-801.1	-268.1	-772	-257.1
Total Debt Repaid	-369.3	-801.1	-1,233	-772	-603.8
Net Debt Issued (Repaid)	-366.6	-94.5	-736.3	-73.7	397.7
Issuance of Common Stock	20.9	17.5	16.6	41.4	13.5
Repurchase of Common Stock	-48	-62.1	-46.5	-58.2	-24
Common Dividends Paid	-483	-451	-418.5	-396.7	-363.3
Other Financing Activities	35.8	7	0.5	-	-1.9
Financing Cash Flow	-840.9	-583.1	-1,184	-487.2	22
Foreign Exchange Rate Adjustments	43.7	-50.3	40	-35.6	-13.6
Net Cash Flow	-90.2	19.5	-167.4	-17.7	-71.9
Free Cash Flow	740.4	647	973.4	389.5	550.3
Free Cash Flow Growth	14.44%	-33.53%	149.91%	-29.22%	-32.56%
Free Cash Flow Margin	10.82%	9.62%	14.61%	6.13%	8.71%
Free Cash Flow Per Share	2.75	2.40	3.61	1.44	2.04
Cash Interest Paid	192.8	210.1	203.6	148.8	135.7
Cash Income Tax Paid	239.6	221	118.3	192.4	179.3
Levered Free Cash Flow	564.53	511.1	877.39	232.09	419.36
Unlevered Free Cash Flow	687.15	641.98	1,008	325.28	504.74
Change in Working Capital	-83.8	-83	269.3	-255.7	-222.8

Updated Nov 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.