GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Consumer Packaged Goods » McCormick & Co Inc (BSP:M1KC34) » Definitions » Interest Expense

McCormick (BSP:M1KC34) Interest Expense : R$-1,026 Mil (TTM As of Feb. 2024)


View and export this data going back to 2020. Start your Free Trial

What is McCormick Interest Expense?

Interest Expense is the amount reported by a company or individual as an expense for borrowed money. McCormick's interest expense for the three months ended in Feb. 2024 was R$ -250 Mil. Its interest expense for the trailing twelve months (TTM) ended in Feb. 2024 was R$-1,026 Mil.

Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income(EBIT) by its Interest Expense. McCormick's Operating Income for the three months ended in Feb. 2024 was R$ 1,179 Mil. McCormick's Interest Expense for the three months ended in Feb. 2024 was R$ -250 Mil. McCormick's Interest Coverage for the quarter that ended in Feb. 2024 was 4.73. The higher the ratio, the stronger the company's financial strength is. Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

McCormick Interest Expense Historical Data

The historical data trend for McCormick's Interest Expense can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

McCormick Interest Expense Chart

McCormick Annual Data
Trend Nov14 Nov15 Nov16 Nov17 Nov18 Nov19 Nov20 Nov21 Nov22 Nov23
Interest Expense
Get a 7-Day Free Trial Premium Member Only Premium Member Only -686.54 -738.78 -760.43 -785.46 -1,019.76

McCormick Quarterly Data
May19 Aug19 Nov19 Feb20 May20 Aug20 Nov20 Feb21 May21 Aug21 Nov21 Feb22 May22 Aug22 Nov22 Feb23 May23 Aug23 Nov23 Feb24
Interest Expense Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -262.15 -260.02 -258.29 -258.13 -249.53

McCormick Interest Expense Calculation

Interest Expense is the amount reported by a company or individual as an expense for borrowed money.

Interest Expense for the trailing twelve months (TTM) ended in Feb. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was R$-1,026 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

McCormick  (BSP:M1KC34) Interest Expense Explanation

Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income (EBIT) by its Interest Expense. The higher, the better.

Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

McCormick's Interest Expense for the three months ended in Feb. 2024 was R$-250 Mil. Its Operating Income for the three months ended in Feb. 2024 was R$1,179 Mil. And its Long-Term Debt & Capital Lease Obligation for the three months ended in Feb. 2024 was R$16,515 Mil.

McCormick's Interest Coverage for the quarter that ended in Feb. 2024 is calculated as

Interest Coverage=-1* Operating Income (Q: Feb. 2024 )/Interest Expense (Q: Feb. 2024 )
=-1*1179.206/-249.533
=4.73

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

The higher the ratio, the stronger the company's financial strength is.

McCormick (BSP:M1KC34) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Consumer Packaged Goods » McCormick & Co Inc (BSP:M1KC34) » Definitions » Interest Expense
Comparable Companies
K HRL LW CAG SJM CPB PPC BRBR INGR DAR XSWX:NESN KHC XPAR:BN GIS SHSE:603288 NSE:NESTLEIND SHSE:600887 LSE:ABF SZSE:300999 BIMBOA
Traded in Other Exchanges
MKC.V:USA MKC:USA MCX:Germany MKC:Austria
Address
24 Schilling Road, Suite 1, Hunt Valley, MD, USA, 21031
Website
https://www.mccormickcorporation.com
In its more-than 130-year history, McCormick has grown to become the leading global manufacturer, marketer, and distributor of spices, herbs, extracts, seasonings, and other flavorings. Beyond end consumers, McCormick's customer base also includes top quick-service restaurants, retail grocery chains, and other packaged food and beverage manufacturers. And its reach is global, with nearly 40% of sales generated beyond its home turf to include 150 other countries and territories. In addition to its namesake brand, the firm's portfolio includes Old Bay, Zatarain's, Thai Kitchen, Frank's RedHot, French's, and the Cholula brand.

McCormick (BSP:M1KC34) Headlines

No Headlines