MKC FY 2012 Earnings Report — McCormick & Company, Incorporated Revenue & Financial Results | Market Cap Arena

McCormick & Company, IncorporatedMKC

FY 2012 Earnings

Reported January 25, 2013

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2012	Prior Q	FY 2011	QoQ Change	YoY Change
Revenue	$4.0B	—	$3.7B	—	8.6%
Op. Income	$578M	—	$540M	—	7.0%
Gross Margin	40.3%	—	41.2%	—	-0.9pp
Net Margin	10.2%	—	10.1%	—	0.0pp
EPS (Diluted)	$1.52	—	$1.40	—	8.6%
Free Cash Flow	$345M	—	$243M	—	41.7%

Revenue Flow

Item	Amount
REVENUE	$4.0B
Cost of Revenue	$2.4B
GROSS PROFIT	$1.6B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$1.0B
SG&A Expenses	$1.0B
Other Expenses	$0
Operating Expenses	$1.0B
Cost & Expenses	$3.4B
OPERATING INCOME	$578M
Interest Income	$0
Interest Expense	$55M
Other Income/Expenses	-$31M
INCOME BEFORE TAX	$548M
Income Tax Expense	$140M
Net Income from Continuing Ops	$408M
Net Income from Discontinued Ops	$22M
Other Adjustments	-$22M
NET INCOME	$408M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$408M
D&A	$103M
EBIT	$581M
EBITDA	$684M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$4.0B
Cost of Revenue	$2.4B
GROSS PROFIT	$1.6B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$1.0B
SG&A Expenses	$1.0B
Other Expenses	$0
Operating Expenses	$1.0B
Cost & Expenses	$3.4B
OPERATING INCOME	$578M
Interest Income	$0
Interest Expense	$55M
Other Income/Expenses	-$31M
INCOME BEFORE TAX	$548M
Income Tax Expense	$140M
Net Income from Continuing Ops	$408M
Net Income from Discontinued Ops	$22M
Other Adjustments	-$22M
NET INCOME	$408M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$408M
D&A	$103M
EBIT	$581M
EBITDA	$684M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$408M
Depreciation & Amortization	$103M
Stock-Based Compensation	$20M
Deferred Income Tax	$24M
Other Non-Cash Items	-$30M
Change in Working Capital	-$70M
OPERATING CASH FLOW	$455M
Capital Expenditure	-$110M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$1M
NET CASH FROM INVESTING	-$109M
Net Debt Issuance	-$81M
Common Stock Repurchased	-$132M
Common Dividends Paid	-$165M
Other Financing Activities	$0
NET CASH FROM FINANCING	-$324M
FREE CASH FLOW	$345M
Net Change in Cash	$25M

Balance Sheet

Item	Amount
Cash & Equivalents	$79M
Short-Term Investments	$0
Net Receivables	$466M
Inventory	$615M
Other Current Assets	$91M
TOTAL CURRENT ASSETS	$1.3B
PP&E (Net)	$547M
Goodwill	$1.7B
Intangible Assets	$324M
Long-Term Investments	$228M
Tax Assets	$0
Other Non-Current Assets	$86M
TOTAL NON-CURRENT ASSETS	$2.9B
TOTAL ASSETS	$4.2B
Account Payables	$376M
Short-Term Debt	$393M
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$1.2B
Long-Term Debt	$779M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$57M
Other Non-Current Liabilities	$442M
TOTAL NON-CURRENT LIABILITIES	$1.3B
TOTAL LIABILITIES	$2.5B
Common Stock	$908M
Additional Paid-In Capital	$908M
Retained Earnings	$935M
Treasury Stock	$0
Accum. Other Comp. Income	-$160M
Other Equity	-$908M
TOTAL STOCKHOLDERS' EQUITY	$1.7B
Minority Interest	$17M
TOTAL EQUITY	$1.7B
TOTAL LIABILITIES & EQUITY	$4.2B
Total Debt	$1.2B
Net Debt	$1.1B