味好美 2025年度报告

McCORMICK& COMPANY, INCORPORATED (Exact name of registrant as specified in its charter) Registrant’s telephone number, including area code: (410)771-7301 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 Section13 or Section15(d) of the Act. Yes☐No☒ Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d) of the Securities Exchange Act of 1934during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2)has been subject to such filingrequirements for the past 90 days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 ofRegulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post suchfiles).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company, oremerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and "emerging growthcompany" in Rule 12b-2 of the Exchange Act. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any newor 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 of its internal controlover financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared orissued its audit report.☒ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in thefiling 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-based compensationreceived by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).☐ State the aggregate market value of the voting and non-voting common equity held by non-affiliates computed by reference to the price at which thecommon equity was last sold, or the average bid and asked prices of such common equity, as of the last business day of the registrant’s most recentlycompleted second fiscal quarter. The aggregate market value of the Voting Common Stock held by non-affiliates at May30, 2025: $1,099,419,345 The aggregate market value of the Non-Voting Common Stock held by non-affiliates at May30, 2025: $18,403,576,766 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 itsconsolidated subsidiaries or, as the context may require, McCormick& Company, Incorporated only. ITEM1. BUSINESS McCormick is a global leader in flavor. We manufacture, market, and distribute herbs, spices, seasoning mixes,condiments, and other flavorful products to the entire food and beverage industry: retailers, food manufacturers, andfoodservice businesses. We also are partners in a number of joint ventures that are involved in the manufacture and saleof flavorful products, the most significant of which is McCormick de Mexico. Our major sales, distribution, and productionfacilities are located in North America, Europe, and China. Additional facilities are based in Australia, Central America,Thailand, and South Africa. On January 2, 2026, we completed the purchase of an additional 25% ownership interest in McCormick de Mexico. Thepurchase price was $750 million, which increased our ownership to a 75% controlling interest. We believe the acquisitioncreates opportunities for further growth in the Mexican market and provides a strategic platform for further expansion inLatin America. McCormick de Mexico is a prominent food company in Mexico, with a broad portfolio, includingmayonnaise, spices, marmalades, mustard, hot sauce, and tea, sold under McCormick brands. 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 all types of eating occasions. Ourproducts deliver flavor when cooking at home, dining out, purchasing a quick service restaurant meal, or enjoying a snack.We offer our customers and consumers a r