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GuruFocus has detected 4 Warning Signs with McCormick & Co Inc $MKC.
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McCormick & Co Inc (NYSE:MKC)
Cash Flow from Financing
$-215 Mil (TTM As of Feb. 2017)

Cash from financing is the cash generated/spent from financial activities such as share issuance (buy back), debt issuance (repayment), and dividends paid to preferred and common stockholders.

For the three months ended in Feb. 2017, McCormick & Co Inc paid $83 Mil more to buy back shares than it received from issuing new shares. It received $245 Mil from issuing more debt. It paid $0 Mil more to buy back preferred shares than it received from issuing preferred shares. It spent $59 Mil paying cash dividends to shareholders. It received $6 Mil on other financial activities. In all, McCormick & Co Inc earned $110 Mil on financial activities for the three months ended in Feb. 2017.


Definition

This is the cash generated/spent from financial activities such as share issuance (buy back), debt issuance (repayment), and dividends paid to preferred and common stockholders. In the calculation of free cash flow, cash from financing is not calculated because it is not related to operating activities.

McCormick & Co Inc's Cash from Financing for the fiscal year that ended in Nov. 2016 is calculated as:

Cash from Financing(A: Nov. 2016 )
=Net Issuance of Stock+Net Issuance of Debt+Net Issuance of Preferred+Dividends+Other Financing
=-242.7+55.7+0+-217.8+33.3
=-372

McCormick & Co Inc's Cash from Financing for the quarter that ended in Feb. 2017 is

Cash from Financing(Q: Feb. 2017 )
=Net Issuance of Stock+Net Issuance of Debt+Net Issuance of Preferred+Dividends+Other Financing
=-82.7+245.3+0+-58.9+6.5
=110

McCormick & Co Inc Cash Flow from Financing for the trailing twelve months (TTM) ended in Feb. 2017 was 30 (May. 2016 ) + -76 (Aug. 2016 ) + -279.3 (Nov. 2016 ) + 110.2 (Feb. 2017 ) = $-215 Mil.

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.


Explanation

Cash from financing contains five items:

1. Net Issuance of Stock:
A company may raise cash from issuing new shares. It can also use cash to buy back shares. If this number is positive, it means that the company has received more cash from issuing shares than it has paid to buy back shares. If this number is negative, it means that company has paid more cash to buy back shares than it has received for issuing shares.

McCormick & Co Inc's net issuance of stock for the three months ended in Feb. 2017 was $-83 Mil. McCormick & Co Inc paid $83 Mil more to buy back shares than it received from issuing new shares.

2. Net Issuance of Debt:
Net issuance of debt is the cash a company received or spent through debt related activities such as debt issuance or debt repayment. If a company pays down its debt during the period, this number will be negative. If a company issued more debt, it receives cash and this number is positive.

McCormick & Co Inc's net issuance of debt for the three months ended in Feb. 2017 was $245 Mil. McCormick & Co Inc received $245 Mil from issuing more debt.

3. Net Issuance of Preferred:
A company may raise cash from issuing new preferred shares. It can also use cash to buy back preferred shares. If this number is positive, it means that the company has received more cash from issuing preferred shares than it has paid to buy back preferred shares. If this number is negative, it means that company has paid more cash to buy back preferred shares than it has received for issuing preferred shares.

McCormick & Co Inc's net issuance of preferred for the three months ended in Feb. 2017 was $0 Mil. McCormick & Co Inc paid $0 Mil more to buy back preferred shares than it received from issuing preferred shares.

4. Dividends:
Cash flow for dividends refers to the payment of cash to shareholders as dividends when the company generates income.

McCormick & Co Inc's cash flow for dividends for the three months ended in Feb. 2017 was $-59 Mil. McCormick & Co Inc spent $59 Mil paying cash dividends to shareholders.

5. Other Financing:
Money spent or earned by company from other financial activities.

McCormick & Co Inc's other financing for the three months ended in Feb. 2017 was $6 Mil. McCormick & Co Inc received $6 Mil on other financial activities.


Related Terms

Cash Flow from Operations, Cash Flow from Investing, Net Issuance of Stock, Net Issuance of Debt, Dividends, Net Issuance of Preferred


Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

McCormick & Co Inc Annual Data

Nov07Nov08Nov09Nov10Nov11Nov12Nov13Nov14Nov15Nov16
Net Issuance of Stock -114-110-83-89-132-177-244-146-243
Net Issuance of Debt 66509-252-114368-81675611856
Net Issuance of Preferred 0000000000
Dividends -104-114-125-138-149-165-180-192-205-218
Other Financing 0493674585345323333
Cash from Financing -152433-342-261188-324-246-349-200-372

McCormick & Co Inc Quarterly Data

Nov14Feb15May15Aug15Nov15Feb16May16Aug16Nov16Feb17
Net Issuance of Stock -66-65-5-2-74-48-53-78-64-83
Net Issuance of Debt -824110765-954912346-162245
Net Issuance of Preferred 0000000000
Dividends -48-51-51-51-51-55-55-54-54-59
Other Financing 131131277151116
Cash from Financing -183-645424-213-4630-76-279110
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