Investments In Affiliates

12 Months Ended

Nov. 30, 2012

Investments In Affiliates [Abstract]

Investments In Affiliates

 INVESTMENTS IN AFFILIATES

Summarized annual and year-end information from the financial statements of unconsolidated affiliates representing 100% of the businesses follows:

(millions)	2012		2011		2010
Net sales	$	727.1	$	708.5	$	538.3
Gross profit	229.2		238.7		205.2
Net income	47.1		57.2		51.6
Current assets	$	274.4	$	272.0	$	245.2
Noncurrent assets	104.2		86.5		81.5
Current liabilities	129.9		113.2		105.9
Noncurrent liabilities	20.5		32.1		26.5

Our share of undistributed earnings of unconsolidated affiliates was $71.2 million at November 30, 2012. Royalty income from unconsolidated affiliates was $17.1 million, $16.1 million and $14.5 million for 2012, 2011 and 2010, respectively.

Our principal earnings from unconsolidated affiliates is from our 50% interest in McCormick de Mexico, S.A. de C.V. Profit from this joint venture represented 82% of income from unconsolidated operations in 2012 and 76% in 2011 and 2010.