McCormick
28 named things its latest annual report says its results depend on, each in the company's own words. 17 of them are also named by other companies we've read.
Customers
Walmart Inc.
earns from · approximately 12%named as a riskSales to one of our Consumer segment customers, Wal-Mart Stores, Inc., accounted for consolidated sales of approximately 12% in 2025, 2024, and 2023.Business (Item 1)
Also named by CAG, CALM, CHD, CL, CPB, GIS, HAS, HRL and 9 more
PepsiCo, Inc.
earns from · approximately 12%named as a riskSales to one of our Flavor Solutions segment customers, PepsiCo, Inc., accounted for consolidated sales of approximately 12% in 2025, and 13% in both 2024 and 2023.Business (Item 1)
Flavor Solutions top three customers
concentrated in · 49% of our global Flavor Solutions salesnamed as a riskIn 2025, 2024, and 2023, the top three customers in our Flavor Solutions segment represented 49% of our global Flavor Solutions sales.Business (Item 1)
Partners and platforms
McCormick de Mexico
$750 millionnamed as a riskThe purchase price was $750 million, which increased our ownership to a 75% controlling interest.Business (Item 1)
Other companies
Goodwill and indefinite-lived intangible assets
approximately $5.3 billion of goodwillnamed as a riskAs of November 30, 2025, we had approximately $5.3 billion of goodwill and approximately $3.0 billion of other indefinite-lived intangible assets.Risk factors (Item 1A)
Places
Non-U.S. operations
earns from · approximately 39% of salesnamed as a riskIn fiscal year 2025, approximately 39% of our sales were generated in countries other than the U.S.Risk factors (Item 1A)
Hazards
Single-location manufacturing concentration
concentrated innamed as a riskProduction of certain of our products is highly concentrated, and some are manufactured at a single location.Risk factors (Item 1A)
Commodities and inputs
Euro
exposed to its pricenamed as a riskPrimary exposures include the U.S. dollar versus the Euro, British pound sterling, Chinese renminbi, Canadian dollar, Australian dollar, Polish zloty, Singapore dollar, Swiss franc, and Mexican peso, as well as the Euro versus the British pound sterling and Australian dollar, and Polish zloty.Risk factors (Item 1A)
Also named by ABBV, ABNB, ABT, ADBE, ADI, AME, AMG, AMGN and 186 more
Sugar
exposed to its pricenamed as a riskThe most significant raw materials used in our business are dairy products, pepper, garlic, onion, capsicums (red peppers and paprika), salt, tomato products, sugar, and soybean oil.Business (Item 1)
Soybean oil
exposed to its pricenamed as a riskIn addition, we enter into financial hedging derivative transactions based on forecasted soybean oil purchases.Risk factors (Item 1A)
Dairy products
exposed to its pricenamed as a riskThe most significant raw materials used by us in our business are dairy products, pepper, garlic, onion, capsicums (red peppers and paprika), salt, tomato products, sugar, and soybean oil.Risk factors (Item 1A)
Pepper
exposed to its pricenamed as a riskPepper, along with various spices and herbs, is generally sourced from countries outside the U.S.Business (Item 1)
Garlic
exposed to its pricenamed as a riskThe most significant raw materials used by us in our business are dairy products, pepper, garlic, onion, capsicums (red peppers and paprika), salt, tomato products, sugar, and soybean oil.Risk factors (Item 1A)
Onion
exposed to its pricenamed as a riskRaw materials such as dairy products, onion and soybean oil are primarily obtained locally, either within the U.S. or from our international locations.Business (Item 1)
Capsicums (red peppers and paprika)
exposed to its pricenamed as a riskThe most significant raw materials used in our business are dairy products, pepper, garlic, onion, capsicums (red peppers and paprika), salt, tomato products, sugar, and soybean oil.Business (Item 1)
Tomato products
exposed to its pricenamed as a riskThe most significant raw materials used in our business are dairy products, pepper, garlic, onion, capsicums (red peppers and paprika), salt, tomato products, sugar, and soybean oil.Business (Item 1)
Trucking transportation
depends onnamed as a riskReduced availability of trucking capacity due to shortages of drivers has caused an increase in the cost of transportation for us and our suppliers.Risk factors (Item 1A)
Regulators
U.S. Food and Drug Administration (FDA)
subject tonamed as a riskIn April 2025, the Food and Drug Administration (FDA) called on the industry to phase out all “petroleum-based synthetic dyes” from the nation’s food supply, and in May 2025, the Make America Healthy Again (MAHA) Commission published an assessment report discussing factors contributing to chronic childhood disease including diet, environmental exposure, lack of physical activity and healthcare.Risk factors (Item 1A)
Also named by A, ABBV, ABT, AMGN, ARE, ARWR, ATR, AXGN and 112 more
Laws and programs
U.S. tariffs
subject tonamed as a riskChanges in global trade policies, including tariffs, have caused inflationary pressures and higher costs on certain raw materials and imports.Risk factors (Item 1A)
Also named by A, AAPL, ACHR, ADI, AEHR, AEP, AIOT, AKAM and 170 more
General Data Protection Regulation (GDPR)
subject tonamed as a riskIn addition, there are various compliance obligations for companies that process personal data of certain individuals, including such obligations required by the European Union’s General Data Protection Regulation (GDPR), which affects all member states of the European Economic Area, and the California Consumer Privacy Act (CCPA) and other state comprehensive privacy laws.Risk factors (Item 1A)
Also named by A, AB, ABNB, ADBE, ADP, AGX, AIOT, AJG and 100 more
California Proposition 65
subject tonamed as a riskIf we were required to add warning labels to any of our products or place warnings in locations where our products are sold in order to comply with Proposition 65, the sales of those products and other products of our company could suffer, not only in those locations but elsewhere.Risk factors (Item 1A)
Also named by ARE, CELH, ECL, KDP, KO, LKQ, MNST, PEP and 3 more
Comprehensive Continuous Improvement (CCI) program
named as a riskAny failure by us to achieve our planned cost savings and efficiencies under our CCI program, an ongoing initiative to improve productivity and reduce costs throughout the organization, or other similar programs, could have an adverse effect on our business, results of operations and financial position.Risk factors (Item 1A)
Food Safety Modernization Act
subject toIn the U.S., the safety, production, transportation, distribution, advertising, labeling, and sale of many of our products and their ingredients are subject to the Federal Food, Drug, and Cosmetic Act; the Food Safety Modernization Act; the Federal Trade Commission Act; state consumer protection laws; competition laws; anti-corruption laws; customs and trade laws; federal, state and local workplace health and safety laws; privacy laws; federal, state, and local environmental protection laws; and other federal, state, and local statutes and regulations.Business (Item 1)
Federal Food, Drug, and Cosmetic Act
subject toIn the U.S., the safety, production, transportation, distribution, advertising, labeling, and sale of many of our products and their ingredients are subject to the Federal Food, Drug, and Cosmetic Act; the Food Safety Modernization Act; the Federal Trade Commission Act; state consumer protection laws; competition laws; anti-corruption laws; customs and trade laws; federal, state and local workplace health and safety laws; privacy laws; federal, state, and local environmental protection laws; and other federal, state, and local statutes and regulations.Business (Item 1)