味好美 2024年度报告

FORM 10-K (Mark One)☐ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the fiscal year ended November 30, 2024OR☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the transition period fromtoCommission file number 001-14920 McCORMICK & COMPANY, INCORPORATED (Exact name of registrant as specified in its charter) Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes☐No☐ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes☐No☐ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file suchreports), and (2) has been subject to such filing requirements for the past 90 days.Yes☐No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was requiredto submit and post such files). Yes☐No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smallerreporting company, or emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smallerreporting company” and "emerging growth company" in Rule 12b-2 of the Exchange Act. Check one: Large Accelerated Filer☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark if the registrant has filed a report on and attestation on its management's assessment of the effectiveness ofits internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registeredpublic accounting firm that prepared or issued its audit report.☐ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of theregistrant included in the filing reflect the correction of an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-basedcompensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐No☐ State the aggregate market value of the voting and non-voting common equity held by non-affiliates computed by reference to theprice at which the common equity was last sold, or the average bid and asked prices of such common equity, as of the last businessday of the registrant’s most recently completed second fiscal quarter. The aggregate market value of the Voting Common Stock held by non-affiliates at May 31, 2024: $1,153,048,198 The aggregate market value of the Non-Voting Common Stock held by non-affiliates at May 31, 2024: $18,200,459,672 Indicate the number of shares outstanding of each of the registrant’s classes of common stock, as of the latest practicable date. PART I. As used herein, references to “McCormick,” “we,” “us,” and “our” are to McCormick & Company,Incorporated and its consolidated subsidiaries or, as the context may require, McCormick & Company,Incorporated only. 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, andfoodservice businesses. We also are partners in a number of joint ventures that are involved in themanufacture and sale of flavorful products, the most significant of which is McCormick de Mexico. Ourmajor 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 SegmentsWe 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 alltypes of eating occasions. Our products deliver flavor when cooking at home, dining out, purchasing aquick 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 attributessuch as clean-label, organic, natural, reduced sodium, g