Investments In Affiliates

12 Months Ended

Nov. 30, 2013

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)	2013		2012		2011
Net sales	$	761.4	$	727.1	$	708.5
Gross profit	256.9		229.2		238.7
Net income	53.8		47.1		57.2
Current assets	$	288.9	$	274.4	$	272.0
Noncurrent assets	128.4		104.2		86.5
Current liabilities	141.0		129.9		113.2
Noncurrent liabilities	7.2		20.5		32.1

Our share of undistributed earnings of unconsolidated affiliates was $94.1 million at November 30, 2013. Royalty income from unconsolidated affiliates was $18.4 million, $17.1 million and $16.1 million for 2013, 2012 and 2011, 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 78% of income from unconsolidated operations in 2013, 82% in 2012 and 76% in 2011.