Investments In Affiliates

12 Months Ended

Nov. 30, 2014

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)	2014		2013		2012
Net sales	$	766.6	$	761.4	$	727.1
Gross profit	275.7		256.9		229.2
Net income	67.5		53.8		47.1
Current assets	$	320.1	$	288.9	$	274.4
Noncurrent assets	123.6		128.4		104.2
Current liabilities	137.2		141.0		129.9
Noncurrent liabilities	6.3		7.2		20.5

Our share of undistributed earnings of unconsolidated affiliates was $96.7 million at November 30, 2014. Royalty income from unconsolidated affiliates was $18.7 million, $18.4 million and $17.1 million for 2014, 2013 and 2012, 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 91% of income from unconsolidated operations in 2014, 78% in 2013 and 82% in 2012.