MKCMcCormick & Company
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, and foodservice businesses. 10-K, Item 1
- Employees
- 14,100
- Headquarters
- Hunt Valley, MD
- CEO
- Brendan M. Foley
- Next results
- around Jan 21, 2027
5 paragraphs in Risk Factors of the 10-K filed Jan 22, 2026 with nothing like them in the 10-K filed Jan 23, 2025. Quoted exactly. Paragraphs that were only edited are under 10-K change.
Compared with the Risk Factors in the latest 10-K of the other 31 Consumer staples companies: a paragraph with at least half its words the same at another company is called similar, and the companies are listed under it. A paragraph most of them have is marked boilerplate. No line means no other company has one like it. This counts text; it does not say how serious a risk is.
Changes in global trade policies, including tariffs, have caused inflationary pressures and higher costs on certain raw materials and imports. These actions have impacted our business through increased costs and uncertainty. If maintained, the tariffs, as well as related measures that have been taken and which could be taken by other countries in the future could pose a risk to our business and results of operations. The extent and duration of the tariffs and the resulting impact on general economic conditions and on our business are uncertain and depend on various factors, such as legal challenges to the applicability of these tariffs, negotiations between affected countries, the responses of other countries or regions, exemptions, exclusions or other relief that may be granted, availability and cost of alternative sources of supply, and demand for our products in affected markets.
Similar paragraph at 1 of 31 other Consumer staples companies: MDLZRead in the 10-K ↗
Changes in the political conditions in markets in which we manufacture, sell or distribute our products, as well as changing geopolitical conditions, including conflicts, may be difficult to predict and may adversely affect our business and financial results. Results of elections, referendums, sanctions or other political processes and pressures in certain markets in which our products are manufactured, sold or distributed have created and could continue to create uncertainty regarding how existing governmental policies, laws and regulations may change, including with respect to sanctions, taxes, tariffs, import and export controls and the general movement of goods, materials, services, capital, data and people between countries.
Similar paragraph at 1 of 31 other Consumer staples companies: PGRead in the 10-K ↗
property (and the intellectual property of customers to which we have been given access), the value of our products and brands could be reduced and there could be an adverse impact on our business, financial condition and results of operations.
Read in the 10-K ↗
be perceived to be unsuccessful, which could adversely affect our business in the U.S., the European Union and in other countries.
Similar paragraph at 1 of 31 other Consumer staples companies: GISThere also is the threat of consumer class actions related to these laws and the overall protection of personal data. Even if we are not determined to have violated these laws, government investigations into these issues typically require the expenditure of significant resources and generate negative publicity, which could harm our reputation and our business.
Read in the 10-K ↗
New in the latest 10-Q
7 paragraphs in the 10-Q filed Oct 1, 2026 with nothing like them in the 10-Q filed Jun 25, 2026 (at least half the words must differ; new numbers alone do not count). Quoted exactly, grouped by the item heading above them. This is text that changed, not a judgement of how serious it is.
Financial statements and notes
No adjustments were made to the preliminary estimated fair values during the third quarter of 2026.
Read in the 10-Q ↗
In August 2026, we made the decision to cease operations at our development-stage pepper sourcing and agricultural technology project in Malaysia. The long-term initiative was designed to advance our innovation agenda by applying technology-enabled sourcing practices to help reduce costs and strengthen supply resiliency. However, recent changes in the macroeconomic and supply environment have resulted in less favorable project economics. Our decision to exit this project reflects our disciplined capital allocation strategy and allows resources to be redirected toward higher priority opportunities that management believes will better support long-term value creation. Our August 31, 2026 results reflect a non-cash impairment charge of approximately $ 43.1 million and exit costs of $ 1.8 million, which are reflected as Special charges.
Read in the 10-Q ↗
In August 2026, we amended the synthetic lease arrangement associated with our largest distribution facility in the U.S. mid-Atlantic region. The amendment extended the contractual expiration date from November 2027 to August 2031, revised the payment structure, and modified our residual value guarantee to $ 297.9 million. Given the change in the residual value guarantee, we reclassified the modified lease from an operating lease to a finance lease.
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We accounted for the amendment as a modification of the existing lease and remeasured the lease liability using an updated incremental borrowing rate. We do not believe it is probable that amounts will be owed under the guarantee. Therefore, no amounts related to the residual value guarantee are included in the lease payments used to measure the right-of-use assets and lease liabilities.
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As of August 31, 2026, the finance lease right of use asset was $ 72.6 million recorded in Property, plant and equipment, net and the recognized finance lease liability was $ 73.1 million, of which $ 13.1 million was included in Current portion of long-term debt and $ 60.0 million was included in Long-term debt on our condensed consolidated balance sheet. As of November 30, 2025, when classified as an operating lease, the total right of use asset associated with this facility was $ 34.5 million recorded in Other long-term assets with a related lease obligation of $ 35.6 million, of which $ 17.5 million was included in Other accrued liabilities and $ 18.1 million was included in Other long-term liabilities. The lease amendment was signed at the end of the third quarter and the reclassification to a finance lease generated noncash investing and financing activities for the amounts described above. There was no cash exchanged in connection with the amendment.
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Legal proceedings
• resolving complexities associated with managing a larger, more complex, integrated business, including aligning and executing the strategy of the combined company and managing an additional international headquarters;
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• the significant demands placed on management both before and after the completion of the proposed transaction, which may divert the attention of management from our normal business operations.
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The 10-Q's risk factors against the 10-K
Item 1A of the 10-Q filed Oct 1, 2026 against Item 1A of the 10-K filed Jan 22, 2026.
A 10-Q repeats only the risks that changed, so a 10-K paragraph that is missing from it is not counted as removed.
Added is a paragraph with nothing like it in the 10-K, Reworded a sentence that is in both with several words changed,
Quiet changes a sentence in both where one to four words changed and one is a hedge or a modal
(cut words struck through, new words highlighted and underlined).
Text on the page, not a score; each links to the filing at sec.gov.
This 10-Q has no Item 1A (Risk Factors) text of its own, so there is nothing to compare. Many companies leave it out when their risks have not changed.
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