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Document and Entity Information	6 Months Ended
Document and Entity Information	May 31, 2011 shares
Document Type	10-Q
Amendment Flag	false
Document Period End Date	May 31, 2011
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2011
Entity Registrant Name	MCCORMICK & CO INC
Entity Central Index Key	0000063754
Current Fiscal Year End Date	--11-30
Entity Filer Category	Large Accelerated Filer
Common Stock [Member]
Entity Common Stock Shares Outstanding	12,499,510
Non-Voting Common Stock [Member]
Entity Common Stock Shares Outstanding	119,776,364

Condensed Consolidated Income Statement - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	May 31, 2011	May 31, 2010	May 31, 2011	May 31, 2010
Condensed Consolidated Income Statement
Net sales	$ 883.7	$ 798.3	$ 1,666.5	$ 1,562.8
Cost of goods sold	533.0	471.6	987.6	925.9
Gross profit	350.7	326.7	678.9	636.9
Selling, general and administrative expense	241.4	229.2	459.0	438.5
Operating income	109.3	97.5	219.9	198.4
Interest expense	12.3	12.3	24.5	24.6
Other income, net	0.9	0.0	1.4	0.4
Income from consolidated operations before income taxes	97.9	85.2	196.8	174.2
Income taxes	30.4	25.7	60.4	53.1
Net income from consolidated operations	67.5	59.5	136.4	121.1
Income from unconsolidated operations	6.1	6.7	14.0	13.1
Net income	$ 73.6	$ 66.2	$ 150.4	$ 134.2
Earnings per common share - basic	$ 0.56	$ 0.50	$ 1.13	$ 1.01
Average shares outstanding - basic	132.4	133.1	132.7	132.7
Earnings per common share - diluted	$ 0.55	$ 0.49	$ 1.12	$ 1.00
Average shares outstanding - diluted	134.1	134.8	134.3	134.3
Cash dividends paid per common share	$ 0.28	$ 0.26	$ 0.56	$ 0.52

Condensed Consolidated Balance Sheet - USD ($) $ in Millions	May 31, 2011	Nov. 30, 2010	May 31, 2010
ASSETS
Cash and cash equivalents	$ 47.9	$ 50.8	$ 23.1
Trade accounts receivables, net	342.6	386.7	310.8
Inventories
Finished products	274.0	234.1	238.5
Raw materials and work-in-process	303.3	243.5	217.8
Total inventories	577.3	477.6	456.3
Prepaid expenses and other current assets	111.8	100.8	117.6
Total current assets	1,079.6	1,015.9	907.8
Property, plant and equipment	1,228.8	1,163.3	1,090.1
Less: accumulated depreciation	(734.0)	(675.3)	(626.2)
Total property, plant and equipment, net	494.8	488.0	463.9
Goodwill, net	1,480.3	1,417.4	1,372.6
Intangible assets, net	234.7	232.5	231.9
Investments and other assets	300.0	265.9	216.2
Total assets	3,589.4	3,419.7	3,192.4
LIABILITIES AND SHAREHOLDERS' EQUITY
Short-term borrowings	108.2	0.2	129.1
Current portion of long-term debt	100.3	100.2	0.4
Trade accounts payable	301.8	302.7	266.0
Other accrued liabilities	336.2	431.7	313.8
Total current liabilities	846.5	834.8	709.3
Long-term debt	781.2	779.9	874.6
Other long-term liabilities	319.6	342.3	321.1
Total liabilities	1,947.3	1,957.0	1,905.0
Shareholders' Equity
Retained earnings	732.7	700.9	670.1
Accumulated other comprehensive income (loss)	112.4	(3.7)	(76.7)
Non-controlling interest	9.2	9.0	8.3
Total shareholders' equity	1,642.1	1,462.7	1,287.4
Total liabilities and shareholders' equity	3,589.4	3,419.7	3,192.4
Common Stock [Member]
Shareholders' Equity
Common stock	292.6	282.7	253.9
Non-Voting Common Stock [Member]
Shareholders' Equity
Common stock	$ 495.2	$ 473.8	$ 431.8

Condensed Consolidated Cash Flow Statement - USD ($) $ in Millions	6 Months Ended
	May 31, 2011	May 31, 2010
Cash flows from operating activities
Net income	$ 150.4	$ 134.2
Adjustments to reconcile net income to net cash flow from operating activities:
Depreciation and amortization	48.5	45.9
Stock-based compensation	7.6	7.5
Income from unconsolidated operations	(14.0)	(13.1)
Changes in operating assets and liabilities	(166.7)	(117.0)
Dividends from unconsolidated affiliates	10.5	7.7
Net cash flow provided by operating activities	36.3	65.2
Cash flows from investing activities
Capital expenditures	(33.4)	(32.4)
Proceeds from sale of property, plant and equipment	0.3	0.2
Net cash flow used in investing activities	(33.1)	(32.2)
Cash flows from financing activities
Short-term borrowings, net	107.9	28.1
Long-term debt borrowings	2.1	0.0
Long-term debt repayments	0.0	(14.2)
Proceeds from exercised stock options	31.1	29.7
Common stock acquired by purchase	(89.2)	(6.4)
Dividends paid	(74.3)	(69.0)
Net cash flow used in financing activities	(22.4)	(31.8)
Effect of exchange rate changes on cash and cash equivalents	16.3	(17.6)
Decrease in cash and cash equivalents	(2.9)	(16.4)
Cash and cash equivalents at beginning of period	50.8	39.5
Cash and cash equivalents at end of period	$ 47.9	$ 23.1

Accounting Policies

6 Months Ended

May 31, 2011

Accounting Policies

Accounting Policies

1.	ACCOUNTING POLICIES

Basis of Presentation

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and do not include all the information and notes required by United States generally accepted accounting principles for complete financial statements. In our opinion, the accompanying condensed consolidated financial statements contain all adjustments, which are of a normal and recurring nature, necessary to present fairly the financial position and the results of operations for the interim periods.

The results of consolidated operations for the three and six month periods ended May 31, 2011 are not necessarily indicative of the results to be expected for the full year. Historically, our net sales, net income and cash flow from operations are lower in the first half of the fiscal year and increase in the second half. The increase in net sales, net income and cash flow from operations in the second half of the year is mainly due to the consumer business cycle, where customers typically purchase more products in the fourth quarter due to the holiday season.

For further information, refer to the consolidated financial statements and notes included in our Annual Report on Form 10-K for the year ended November 30, 2010.

Accounting and Disclosure Changes

In June 2011, the Financial Accounting Standards Board issued Accounting Standards Update No. 2011-05 Comprehensive Income (Topic 220): Presentation of Comprehensive Income. This guidance is intended to increase the prominence of other comprehensive income in financial statements by presenting it in either a single statement or two-statement approach. This new accounting pronouncement is effective for our first quarter of 2013 and we do not expect any material impact on our financial statements from adoption.

Financial Instruments

6 Months Ended

May 31, 2011

Financial Instruments

Financial Instruments

2.	FINANCIAL INSTRUMENTS

We use derivative financial instruments to enhance our ability to manage risk, including foreign currency and interest rate exposures, which exist as part of our ongoing business operations. We do not enter into contracts for trading purposes, nor are we a party to any leveraged derivative instrument. The use of derivative financial instruments is monitored through regular communication with senior management and the use of written guidelines.

In May 2011, we entered into $150 million of forward U.S. Treasury rate lock agreements to manage the U.S. Treasury portion of our interest rate risk associated with the anticipated issuance of at least $150 million of fixed rate medium-term notes in 2011. We intend to cash settle these agreements upon issuance of the medium-term notes thereby effectively locking in the U.S. Treasury fixed interest rate in effect at the time the agreements were initiated. The U.S. Treasury locked weighted average fixed rate of these agreements is 3.18%. We have designated these outstanding forward U.S. Treasury rate lock agreements, which expire on July 22, 2011, as cash flow hedges. The gain or loss on these agreements is deferred in other comprehensive income and will be amortized over the life of the medium-term notes as a component of interest expense. Hedge ineffectiveness of these agreements was not material in the quarter.

As of May 31, 2011, the maximum time frame for our foreign exchange forward contracts is 18 months. For all derivatives, the net amount of accumulated other comprehensive income expected to be reclassified in the next 12 months is $3.4 million as a reduction of earnings.

All derivatives are recognized at fair value in the balance sheet and recorded in either current or noncurrent other assets or other accrued liabilities or other long-term liabilities depending upon nature and maturity.

The following table discloses the fair values of derivative instruments on our balance sheet (in millions):

As of May 31, 2011

	Other current		Other current		Other current	Other current		Other current		Other current
	Asset Derivatives					Liability Derivatives
	Balance Sheet Location	Notional Amount		Fair Value		Balance Sheet Location	Notional Amount		Fair Value

Interest rate contracts	Other current assets	$	100.0	$	17.7	Other accrued liabilities	$	150.0	$	0.9

Foreign exchange contracts	Other current assets		187.3		3.5	Other accrued liabilities	$	38.2		2.7


Total				$	21.2				$	3.6

As of May 31, 2010

	Balance Sheet		Balance Sheet		Balance Sheet	Balance Sheet		Balance Sheet		Balance Sheet
	Asset Derivatives					Liability Derivatives
	Balance Sheet Location	Notional Amount		Fair Value		Balance Sheet Location	Notional Amount		Fair Value

Interest rate contracts	Other current assets	$	100.0	$	16.1

Foreign exchange contracts	Other current assets		235.5		3.1	Other accrued liabilities	$	34.4	$	0.7


Total				$	19.2				$	0.7

As of November 30, 2010

	Balance Sheet		Balance Sheet		Balance Sheet	Balance Sheet		Balance Sheet		Balance Sheet
	Asset Derivatives					Liability Derivatives
	Balance Sheet Location	Notional Amount		Fair Value		Balance Sheet Location	Notional Amount		Fair Value

Interest rate contracts	Other current assets	$	100.0	$	19.2

Foreign exchange contracts	Other current assets		4.5		0.2	Other accrued liabilities	$	203.7	$	2.8


Total				$	19.4				$	2.8

The following tables disclose the impact of derivative instruments on our other comprehensive income (OCI), accumulated other comprehensive income (AOCI) and our income statement for the quarters ending May 31, 2011 and 2010 (in millions):

Fair Value Hedges

Interest expense

Derivative

Income statement
location

Expense

For the
3 months
ended
5/31/11

For the
3 months
ended
5/31/10

For the
6 months
ended
5/31/11

For the
6 months
ended
5/31/10

Interest rate contracts

Interest expense

1.3

2.5

Cash Flow Hedges – For the 3 months ended May 31,

		Interest expense			Interest expense	Interest expense		Interest expense			Interest expense
Derivative	Gain or (Loss) recognized in OCI					Income statement location	Gain or (Loss) reclassified from AOCI
	2011			2010			2011			2010

Interest rate contracts	$	(0.9	)		—	Interest expense	$	(0.4	)	$	(0.4	)

Foreign exchange contracts		—		$	0.4	Cost of goods sold		(1.0	)		(0.1	)


Total	$	(0.9	)	$	0.4		$	(1.4	)	$	(0.5	)

Cash Flow Hedges – For the 6 months ended May 31,

		Interest expense			Interest expense	Interest expense		Interest expense			Interest expense
Derivative	Gain or (Loss) recognized in OCI					Income statement location	Gain or (Loss) reclassified from AOCI
	2011			2010			2011			2010

Interest rate contracts	$	(0.9	)		—	Interest expense	$	(0.7	)	$	(0.7	)

Foreign exchange contracts		(1.8	)	$	1.7	Cost of goods sold		(1.6	)		0.0

Total	$	(2.7	)	$	1.7		$	(2.3	)	$	(0.7	)

The amount of gain or loss recognized in income on the ineffective portion of derivative instruments was not material. The amounts noted in the tables above for OCI do not include any adjustments for the impact of deferred income taxes.

- Definition

The entire disclosure for the entity's entire derivative instruments and hedging activities. Describes an entity's risk management strategies, derivatives in hedging activities and non-hedging derivative instruments, the assets, obligations, liabilities, revenues and expenses arising therefrom, and the amounts of and methodologies and assumptions used in determining the amounts of such items.

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+ Details

Fair Value Measurements

6 Months Ended

May 31, 2011

Fair Value Measurements

Fair Value Measurements

3.	FAIR VALUE MEASUREMENTS

Fair value can be measured using valuation techniques, such as the market approach (comparable market prices), the income approach (present value of future income or cash flow), and the cost approach (cost to replace the service capacity of an asset or replacement cost). Accounting standards utilize a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The following is a brief description of those three levels:

•

Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities.

•

Level 2: Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active.

•

Level 3: Unobservable inputs that reflect the reporting entity's own assumptions.

Our population of financial assets and liabilities subject to fair value measurements on a recurring basis are as follows (in millions):


			Fair value measurements using fair value hierarchy As of May 31, 2011
Assets	Fair Value		Level 1		Level 2		Level 3

Cash and cash equivalents	$	47.9	$	47.9	$	—	$	—
Insurance contracts		61.9		—		61.9		—
Bonds & other long-term investments		12.9		12.9		—		—
Interest rate derivatives		17.7		—		17.7		—
Foreign currency derivatives		3.5		—		3.5		—


Total	$	143.9	$	60.8	$	83.1	$	—


Liabilities
Foreign currency derivatives	$	2.7		—	$	2.7		—
Interest rate derivatives		0.9		—		0.9		—


Total	$	3.6	$	—	$	3.6	$	—


			Fair value measurements using fair value hierarchy As of May 31, 2010
Assets	Fair Value		Level 1		Level 2		Level 3

Cash and cash equivalents	$	23.1	$	23.1	$	—	$	—
Insurance contracts		44.3		—		44.3		—
Bonds & other long-term investments		19.7		19.7		—		—
Interest rate derivatives		16.1		—		16.1		—
Foreign currency derivatives		3.1		—		3.1		—


Total	$	106.3	$	42.8	$	63.5	$	—


Liabilities
Foreign currency derivatives	$	0.7	$	—	$	0.7	$	—


			Fair value measurements using fair value hierarchy As of November 30, 2010
Assets	Fair Value		Level 1		Level 2		Level 3

Cash and cash equivalents	$	50.8	$	50.8	$	—	$	—
Insurance contracts		52.8		—		52.8		—
Bonds & other long-term investments		13.0		13.0		—		—
Interest rate derivatives		19.2		—		19.2		—
Foreign currency derivatives		0.2		—		0.2		—


Total	$	136.0	$	63.8	$	72.2	$	—


Liabilities
Foreign currency derivatives	$	2.8	$	—	$	2.8	$	—

The fair values of insurance contracts are based upon the underlying values of the securities in which they are invested and are from quoted market prices from various stock and bond exchanges. The fair values of bonds and other long-term investments are based on quoted market prices from various stock and bond exchanges. The fair values for interest rate and foreign currency derivatives are based on quotations from various banks for similar instruments using models with market based inputs.

- Definition

Tabular disclosure of the fair value measurement of assets and liabilities which includes [financial] instruments measured at fair value that are classified in stockholders' equity. Such assets and liabilities may be measured on a recurring or nonrecurring basis. The disclosures which may be required or desired include: (1) for assets and liabilities measured on a recurring basis, disclosure may include: (a) the fair value measurements at the reporting date; (b) the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets or liabilities (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3); (c) for fair value measurements using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (i) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (ii) purchases, sales, issuances, and settlements (net); (iii) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs); (d) the amount of the total gains or losses for the period in subparagraph (c) (i) above included in earnings (or changes in net assets) that are attributable to the change in unrealized gains or losses relating to those assets and liabilities still held at the reporting date and a description of where those unrealized gains or losses are reported in the statement of income (or activities); (e) the valuation technique(s) used to measure fair value and a discussion of changes in valuation techniques, if any, during the period and (2) for assets and liabilities that are measured at fair value on a nonrecurring basis (for example, impaired assets) disclosure may include, in addition to (a) above: (a) the reasons for the fair value measurements recorded; (b) the same as (b) above; (c) for fair value measurements using significant unobservable inputs (Level 3), a description of the inputs and the information used to develop the inputs; and (d) the valuation technique(s) used to measure fair value and a discussion of changes, if any, in the valuation technique(s) used to measure similar assets and/or liabilities in prior periods. Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 10
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 157
-Paragraph 32
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 157
-Paragraph 33
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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-URI http://asc.fasb.org/extlink&oid=6925170&loc=d3e19279-110258

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6925170&loc=d3e19296-110258

+ Details

Pension and Postretirement Benefits

6 Months Ended

May 31, 2011

Pension and Postretirement Benefits

Pension and Postretirement Benefits

4.	PENSION AND POSTRETIREMENT BENEFITS

The following table presents the components of our pension expense of the defined benefit plans for the three months ended May 31 (in millions):


	United States						International
	2011			2010			2011			2010
Defined benefit plans
Service cost	$	3.8		$	3.2		$	1.6		$	1.3
Interest costs		7.6			7.3			3.2			2.8
Expected return on plan assets		(8.5	)		(8.0	)		(4.0	)		(3.4	)
Amortization of prior service costs		—			—			.1			.1
Recognized net actuarial loss		3.3			3.0			.6			.3

Total pension expense	$	6.2		$	5.5		$	1.5		$	1.1

The following table presents the components of our pension expense of the defined benefit plans for the six months ended May 31 (in millions):


	United States						International
	2011			2010			2011			2010
Defined benefit plans
Service cost	$	7.6		$	6.4		$	3.1		$	2.7
Interest costs		15.1			14.6			6.3			5.7
Expected return on plan assets		(17.0	)		(16.0	)		(7.9	)		(6.9	)
Amortization of prior service costs		—			—			.2			.2
Recognized net actuarial loss		6.6			5.9			1.2			.7

Total pension expense	$	12.3		$	10.9		$	2.9		$	2.4

During the six months ended May 31, 2011 and 2010, we made $39.0 million and $44.5 million, respectively, in total contributions to our pension plans. Total contributions to our pension plans in 2011 are expected to be approximately $46 million. Total contributions to our pension plans in fiscal year 2010 were $49.5 million.

The following table presents the components of our other postretirement benefits expense (in millions):


	Three months ended May 31,						Six months ended May 31,
	2011			2010			2011			2010
Other postretirement benefits
Service cost	$	0.8		$	1.3		$	1.9		$	2.5
Interest costs		1.1			1.2			2.2			2.5
Amortization of prior service costs		(1.5	)		(1.2	)		(3.0	)		(2.7	)
Amortization of losses and (gains)		0.1			0.2			0.4			0.6

Total other postretirement expense	$	0.5		$	1.5		$	1.5		$	2.9

- Definition

The entire disclosure for pension and other postretirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 5
-Subparagraph a
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 5
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 5
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 5
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 8
-Subparagraph m
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 106
-Paragraph 518
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 87
-Paragraph 264
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
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-Name Emerging Issues Task Force (EITF)
-Number 03-2
-Paragraph 8
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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-Name Accounting Principles Board Opinion (APB)
-Number 30
-Paragraph 26
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef
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-Number FAS106-2
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 158
-Paragraph 7, 21, 22
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 5, 6, 7, 8
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Implementation Guide (Q and A)
-Number FAS88
-Paragraph 63
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 14: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 715
-URI http://asc.fasb.org/topic&trid=2235017

+ Details

Stock-Based Compensation

6 Months Ended

May 31, 2011

Stock-Based Compensation

Stock-Based Compensation

5.	STOCK-BASED COMPENSATION

The following table sets forth the stock-based compensation recorded in selling, general and administrative (SG&A) expense (in millions):


	Three months ended May 31,				Six months ended May 31,
	2011		2010		2011		2010
Stock-based compensation expense	$	5.5	$	5.5	$	7.6	$	7.5

Our 2011 annual grant of stock options and restricted stock units (RSU) occurred in the second quarter, similar to the 2010 annual grant. The weighted-average grant-date fair value of an option granted in 2011 was $7.99 and in 2010 was $6.88 under a lattice pricing model. The fair values of option grants in the stated periods were computed using the following range of assumptions for our various stock compensation plans:


	2011	2010
Risk-free interest rates	0.1 - 3.5%	0.2 - 3.8%
Dividend yield	2.4%	2.7%
Expected volatility	15.2 - 22.2%	20.4 - 24.2%
Expected lives	6.4	6.2

The following is a summary of all option activity for the six months ended May 31, 2011 and 2010:


	2011					2010
(shares in millions)	Number of Shares			Weighted- Average Exercise Price		Number of Shares			Weighted- Average Exercise Price

Outstanding at beginning of period		7.4		$	32.01		11.3		$	29.45
Granted		0.9			47.40		1.0			38.39
Exercised		(1.0	)		28.11		(2.1	)		22.03
Cancelled		—			—		(0.1	)		34.71

Outstanding at end of May 31,		7.3			34.62		10.1			31.77

Exercisable at end of May 31,		5.0		$	32.11		8.0		$	30.94

As of May 31, 2011 the intrinsic value (the difference between the exercise price and the market price) for all options outstanding was $113.5 million and for exercisable options was $89.5 million. The total intrinsic value of all options exercised during the six months ended May 31, 2011 and 2010 was $19.6 million and $32.4 million, respectively.

The following is a summary of all of our RSU activity for the six months ended May 31, 2011 and 2010:


	2011					2010
(shares in thousands)	Number of Shares			Weighted- Average Grant-Date Fair Value		Number of Shares			Weighted- Average Grant-Date Fair Value

Outstanding at beginning of period		289		$	35.42		353		$	32.40
Granted		134		$	47.40		176		$	38.36
Vested		(183	)	$	34.03		(232	)	$	33.17
Forfeited		(3	)	$	37.20		(2	)	$	28.26

Outstanding at end of February		237		$	43.24		295		$	35.36

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 123R
-Paragraph 64, 65, A240
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Statement of Position (SOP)
-Number 93-6
-Paragraph 53
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 14

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 50
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666

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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929

+ Details

Income Taxes

6 Months Ended

May 31, 2011

Income Taxes

Income Taxes

6.	INCOME TAXES

There were no significant changes to unrecognized tax benefits during the six months ended May 31, 2011 (which was $20.7 million at November 30, 2010).

Income taxes for the three months ended May 31, 2011 did not include any discrete tax adjustments. Income taxes for the six months ended May 31, 2011 include $0.8 million in discrete tax benefits for the adjustment of an estimate used in a prior year tax provision.

Income taxes for the three months and six months ended May 31, 2010 include $2.9 million and $4.7 million, respectively, in discrete tax benefits for the settlement of tax audits.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph h
-Article 4

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 136, 172
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 43, 44, 45, 46, 47, 48, 49
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(h))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 7: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
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-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319

+ Details

Earnings Per Share and Stock Issuances

6 Months Ended

May 31, 2011

Earnings Per Share and Stock Issuances

Earnings Per Share and Stock Issuances

7.	EARNINGS PER SHARE AND STOCK ISSUANCES

The following table sets forth the reconciliation of average shares outstanding (in millions):


	Three months ended May 31,				Six months ended May 31,
	2011		2010		2011		2010

Average shares outstanding – basic		132.4		133.1		132.7		132.7
Effect of dilutive securities:
Stock options, Restricted Stock Units (RSUs) and employee stock purchase plan		1.7		1.7		1.6		1.6


Average shares outstanding – diluted		134.1		134.8		134.3		134.3

The following table sets forth the stock options and RSUs for the three and six months ended May 31, 2011 and 2010 which were not considered in our earnings per share calculation since they were anti-dilutive.


	Three months ended May 31,				Six months ended May 31,
	2011		2010		2011		2010

Anti-dilutive securities		0.5		0.7		0.4		3.0

The following table sets forth the common stock activity for the three and six months ended May 31, 2011 and 2010 under the Company's stock option and employee stock purchase plans and the repurchases of common stock under its stock repurchase program (in millions):


	Three months ended May 31,				Six months ended May 31,
	2011		2010		2011		2010

Shares issued under stock option, employee stock purchase plans and RSUs		0.5		0.9		1.1		1.6
Shares repurchased in connection with the stock repurchase program		0.8		0.2		1.9		0.2

As of May 31, 2011, $270 million remained of the $400 million share repurchase authorization that was authorized by the Board of Directors in June 2010.

Comprehensive Income

6 Months Ended

May 31, 2011

Comprehensive Income

Comprehensive Income

8.	COMPREHENSIVE INCOME

The following table sets forth the components of comprehensive income (in millions):


	Three months ended May 31,					Six months ended May 31,
	2011		2010			2011			2010

Net income	$	73.6	$	66.2		$	150.4		$	134.2
Other comprehensive income (loss), (net of tax):
Pension and other postretirement costs, net of tax		1.3		3.2			1.0			7.1
Foreign currency translation adjustments		47.0		(93.1	)		115.5			(193.9	)
Derivative financial instruments, net of tax		—		0.2			(0.4	)		1.0

Comprehensive income (loss)	$	121.9	$	(23.5	)	$	266.5		$	(51.6	)

The other comprehensive income (loss) amounts in the table above are net of tax expense of $0.8 million and $1.2 million for the three months ended May 31, 2011 and 2010, respectively, and net of tax expense of $1.6 million and $2.5 million for the six months ended May 31, 2011 and 2010, respectively.

The following table sets forth the components of accumulated other comprehensive income, net of tax where applicable (in millions):


	May 31, 2011			May 31, 2010			November 30, 2010

Foreign currency translation adjustment	$	300.2		$	99.4		$	184.7
Unrealized gain (loss) on foreign currency exchange contracts		(1.2	)		0.4			(0.7	)
Unamortized value of interest rate contracts		(5.8	)		(6.0	)		(5.9	)
Pension and other postretirement costs		(180.8	)		(170.5	)		(181.8	)

Accumulated other comprehensive income	$	112.4		$	(76.7	)	$	(3.7	)

- Definition

The entire disclosure for comprehensive income. Includes, but is not limited to, the following: 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. Components of comprehensive income include: (1) foreign currency translation adjustments; (2) gains (losses) on foreign currency transactions that are designated as, and are effective as, economic hedges of a net investment in a foreign entity; (3) gains (losses) on intercompany foreign currency transactions that are of a long-term-investment nature, when the entities to the transaction are consolidated, combined, or accounted for by the equity method in the reporting enterprise's financial statements; (4) change in the market value of a futures contract that qualifies as a hedge of an asset reported at fair value; (5) unrealized holding gains (losses) on available-for-sale securities and that resulting from transfers of debt securities from the held-to-maturity category to the available-for-sale category; (6) a net loss recognized as an additional pension liability not yet recognized as net periodic pension cost; and (7) the net gain (loss) and net prior service cost or credit for pension plans and other postretirement benefit plans.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 130
-Paragraph 14-26
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e637-108580

Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 220
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-Section 45
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 220
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187085-122770

Reference 6: http://www.xbrl.org/2003/role/presentationRef
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
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-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6920433&loc=d3e998-108581

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-Name Accounting Standards Codification
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-Publisher FASB
-Name Accounting Standards Codification
-Glossary Reclassification Adjustments
-URI http://asc.fasb.org/extlink&oid=6522872

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-Name Accounting Standards Codification
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+ Details

Business Segments

6 Months Ended

May 31, 2011

Business Segments

Business Segments

9.	BUSINESS SEGMENTS

We operate in two business segments: consumer and industrial. The consumer and industrial segments manufacture, market and distribute spices, seasoning mixes, condiments and other flavorful products throughout the world. Our consumer segment sells to retail outlets, including grocery, mass merchandise, warehouse clubs, discount and drug stores under the "McCormick" brand and a variety of brands around the world, including "Lawry's", "Zatarain's", "Simply Asia", "Thai Kitchen", "Old Bay", "El Guapo", "Ducros", "Vahine", "Silvo", "Schwartz", "Club House", "Billy Bee" and "Aeroplane". Our industrial segment sells to food manufacturers and the foodservice industry both directly and indirectly through distributors.

In each of our segments, we produce and sell many individual products which are similar in composition and nature. With their primary attribute being to provide flavor, we regard the products within each of our segments to be fairly homogenous. It is impracticable to segregate and identify sales and profits for each of these individual product lines.

We measure segment performance based on operating income. Although the segments are managed separately due to their distinct distribution channels and marketing strategies, manufacturing and warehousing are often integrated to maximize cost efficiencies. We do not segregate jointly utilized assets by individual segment for internal reporting, evaluating performance or allocating capital. Because of manufacturing integration for certain products within the segments, products are not sold from one segment to another but rather inventory is transferred at cost. Intersegment sales are not material.


	Consumer		Industrial		Total
	(in millions)
Three months ended May 31, 2011
Net sales	$	499.0	$	384.7	$	883.7
Operating income		77.0		32.3		109.3
Income from unconsolidated operations		4.5		1.6		6.1

Three months ended May 31, 2010
Net sales	$	452.7	$	345.6	$	798.3
Operating income		68.2		29.3		97.5
Income from unconsolidated operations		5.2		1.5		6.7
	Consumer		Industrial		Total
	(in millions)
Six months ended May 31, 2011
Net sales	$	953.1	$	713.4	$	1,666.5
Operating income		163.9		56.0		219.9
Income from unconsolidated operations		10.5		3.5		14.0

Six months ended May 31, 2010
Net sales	$	906.2	$	656.6	$	1,562.8
Operating income		148.0		50.4		198.4
Income from unconsolidated operations		10.5		2.6		13.1

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 131
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
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-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599

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-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
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-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599

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-Name Accounting Standards Codification
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-Topic 280
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-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599

+ Details

Subsequent Events

6 Months Ended

May 31, 2011

Subsequent Events

Subsequent Events

10.	SUBSEQUENT EVENTS

In June 2011, we signed an agreement to enter into a joint venture with Kohinoor Foods Ltd. in India. "Kohinoor" is a leading national brand of basmati rice as well as other convenience food products. We expect to invest $115 million for an 85% interest in the joint venture, Kohinoor Speciality Foods India Private Limited. This will be a consumer business consolidated joint venture with projected annual net sales of approximately $85 million and will market and sell branded basmati rice and other food products in India. The completion of the agreement is expected to occur by the end of the third quarter of 2011 subject to regulatory and other approvals in India.

In June 2011, we also signed an agreement to purchase the shares of Kamis, a brand leader of spices, seasonings and mustards in Poland for approximately $291 million. Kamis is a privately held company based in Poland with distribution into Poland, Russia and other parts of Central and Eastern Europe and its annual net sales are approximately $105 million. The acquisition is expected to be completed by the end of the third quarter of 2011, subject to regulatory approval, and will be included in our consumer business segment.

In June we entered into a new five year $600 million revolving credit facility. The new facility expires in June 2016 and replaces our existing $500 million revolving credit facility, which was due to expire in July 2012. The interest rate under this new credit facility, on a fully drawn basis, is LIBOR plus 0.875%. This credit facility supports our commercial paper program.