Capital Stock and Earnings Per Share

9 Months Ended

Aug. 31, 2025

Earnings Per Share, Basic and Diluted EPS [Abstract]

CAPITAL STOCK AND EARNINGS PER SHARE

The following table sets forth the reconciliation of average shares outstanding (in millions):


	Three months ended August 31,		Nine months ended August 31,
	2025	2024	2025	2024
Average shares outstanding – basic	268.6	268.6	268.5	268.5
Effect of dilutive securities:
Stock options/RSUs/LTPP	0.7	1.1	0.9	1.1
Average shares outstanding – diluted	269.3	269.7	269.4	269.6

The following table sets forth the stock options and RSUs that were not considered in our earnings per share calculation since they were anti-dilutive (in millions):


	Three months ended August 31,		Nine months ended August 31,
	2025	2024	2025	2024
Anti-dilutive securities	3.4	3.6	3.0	3.4

The following table sets forth common stock activity (in millions):


	Three months ended August 31,		Nine months ended August 31,
	2025	2024	2025	2024
Shares issued under stock options, RSUs, LTPP, and employee stock purchase plans	0.1	0.1	0.8	0.7
Shares repurchased under the stock repurchase program and shares withheld for taxes under stock options, RSUs, and LTPP	0.1	0.3	0.6	0.5

As of August 31, 2025, $419 million remained of the $600 million share repurchase program authorization approved by our Board of Directors in November 2019.

MCCORMICK & CO INC 10-Q