UNITED STATES SECURITIES AND EXCHANGE COMMISSION | ||
Washington, D.C. 20549 | ||
Form 10-K
|
Cincinnati |
THE PROCTER & GAMBLE COMPANY
|
OH | ||||||
One Procter & Gamble Plaza | One Procter & Gamble Plaza, Cincinnati, Ohio 45202 | 45202 | ||||||
513 | Telephone (513) 983-1100 | 983-1100 | ||||||
IRS Employer Identification No. 31-0411980 | 31-0411980 | |||||||
State of Incorporation: Ohio | OH |
Title of each class | Trading Symbol | Name of each exchange on which registered | ||||||
Common Stock, without Par Value | PG | New York Stock Exchange | ||||||
2.000% notes due 2021 | PG21 | New York Stock Exchange | ||||||
2.000% notes due 2022 | PG22B | New York Stock Exchange | ||||||
1.125% notes due 2023 | PG23A | New York Stock Exchange | ||||||
0.500% notes due 2024 | PG24A | New York Stock Exchange | ||||||
0.625% notes due 2024 | PG24B | New York Stock Exchange | ||||||
1.375% notes due 2025 | PG25 | New York Stock Exchange | ||||||
4.875% EUR notes due May 2027 | PG27A | New York Stock Exchange | ||||||
1.200% notes due 2028 | PG28 | New York Stock Exchange | ||||||
1.250% notes due 2029 | PG29B | New York Stock Exchange | ||||||
1.800% notes due 2029 | PG29A | New York Stock Exchange | ||||||
6.250% GBP notes due January 2030 | PG30 | New York Stock Exchange | ||||||
5.250% GBP notes due January 2033 | PG33 | New York Stock Exchange | ||||||
1.875% notes due 2038 | PG38 | New York Stock Exchange |
Large accelerated filer | þ | Accelerated filer | ¨ | |||||||||||||||||||||||
Non-accelerated filer | ¨ | Smaller reporting company | ¨ | FALSE | ||||||||||||||||||||||
Emerging growth company | ¨ | FALSE |
FORM 10-K TABLE OF CONTENTS | Page | |||||||||||||
PART I | Item 1. | |||||||||||||
Item 1A. | ||||||||||||||
Item 1B. | ||||||||||||||
Item 2. | ||||||||||||||
Item 3. | ||||||||||||||
Item 4. | ||||||||||||||
PART II | Item 5. | |||||||||||||
Item 6. | ||||||||||||||
Item 7. | ||||||||||||||
Item 7A. | ||||||||||||||
Item 8. | ||||||||||||||
Item 9. | ||||||||||||||
Item 9A. | ||||||||||||||
Item 9B. | ||||||||||||||
PART III | Item 10. | |||||||||||||
Item 11. | ||||||||||||||
Item 12. | ||||||||||||||
Item 13. | ||||||||||||||
Item 14. | ||||||||||||||
PART IV | Item 15. | |||||||||||||
Item 16. | ||||||||||||||
Name | Position | Age |
First Elected to
Officer Position |
|||||||||||||||||
David S. Taylor |
Chairman of the Board, President and Chief Executive Officer
|
63 | 2013 | |||||||||||||||||
Jon R. Moeller | Vice Chairman and Chief Operating Officer; Director | 57 |
2009 (1)
|
|||||||||||||||||
Andre Schulten | Chief Financial Officer | 50 |
2021 (2)
|
|||||||||||||||||
Gary A. Coombe | Chief Executive Officer - Grooming | 57 |
2014 (3)
|
|||||||||||||||||
Mary Lynn Ferguson-McHugh | Chief Executive Officer - Family Care and New Business | 61 | 2016 | |||||||||||||||||
Ma. Fatima D. Francisco | Chief Executive Officer - Baby and Feminine Care | 53 |
2018 (4)
|
|||||||||||||||||
Shailesh Jejurikar | Chief Executive Officer - Fabric and Home Care | 54 |
2018 (5)
|
|||||||||||||||||
R. Alexandra Keith | Chief Executive Officer - Beauty | 53 |
2017 (6)
|
|||||||||||||||||
Carolyn M. Tastad | Chief Executive Officer - Health Care | 60 |
2014 (7)
|
|||||||||||||||||
M. Tracey Grabowski | Chief Human Resources Officer | 53 |
2018 (8)
|
|||||||||||||||||
Victor Aguilar | Chief Research, Development and Innovation Officer | 54 |
2020 (9)
|
|||||||||||||||||
Deborah P. Majoras | Chief Legal Officer and Secretary | 57 | 2010 | |||||||||||||||||
S | ||||||||||||||||||||
Marc S. Pritchard | Chief Brand Officer | 61 | 2008 |
Period |
Total Number of
Shares Purchased (1)
|
Average Price Paid per Share (2)
|
Total Number of
Shares Purchased as
Part of Publicly
Announced Plans or
Programs (3)
|
Approximate Dollar Value of Shares that May Yet Be Purchased Under Our Share Repurchase Program | ||||||||||||||||||||||
4/1/2021 - 4/30/2021 | 5,908,114 | $135.41 | 5,908,114 |
(3)
|
||||||||||||||||||||||
5/1/2021 - 5/31/2021 | 8,038,515 | 136.84 | 8,038,515 |
(3)
|
||||||||||||||||||||||
6/1/2021 - 6/30/2021 | 8,184,384 | 134.40 | 8,184,384 |
(3)
|
||||||||||||||||||||||
Total | 22,131,013 | $135.56 | 22,131,013 |
(3)
|
(in dollars; split-adjusted) | 1956 | 1961 | 1971 | 1981 | 1991 | 2001 | 2011 | 2021 | ||||||||||||||||||||||||||||||||||||||||||
Dividends per share | $ | 0.01 | $ | 0.02 | $ | 0.04 | $ | 0.12 | $ | 0.24 | $ | 0.70 | $ | 1.97 | $ | 3.24 |
Cumulative Value of $100 Investment, through June 30 | ||||||||||||||||||||
Company Name/Index | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | ||||||||||||||
P&G | $ | 100 | $ | 106 | $ | 98 | $ | 143 | $ | 160 | $ | 184 | ||||||||
S&P 500 Stock Index | 100 | 118 | 135 | 149 | 160 | 225 | ||||||||||||||
S&P 500 Consumer Staples Index | 100 | 103 | 99 | 115 | 119 | 147 |
Reportable Segments |
% of
Net Sales (1)
|
% of Net
Earnings (1)
|
Product Categories (Sub-Categories) | Major Brands | ||||||||||
Beauty | 19% | 22% |
Hair Care (Conditioner, Shampoo, Styling Aids, Treatments)
|
Head & Shoulders, Herbal Essences, Pantene, Rejoice | ||||||||||
Skin and Personal Care (Antiperspirant and Deodorant, Personal Cleansing, Skin Care)
|
Olay, Old Spice, Safeguard, Secret, SK-II | |||||||||||||
Grooming | 9% | 10% |
Grooming (2) (Shave Care - Female Blades & Razors, Male Blades & Razors, Pre- and Post-Shave Products, Other Shave Care; Appliances)
|
Braun, Gillette, Venus | ||||||||||
Health Care | 13% | 12% |
Oral Care (Toothbrushes, Toothpaste, Other Oral Care)
|
Crest, Oral-B | ||||||||||
Personal Health Care (Gastrointestinal, Rapid Diagnostics, Respiratory,
Vitamins/Minerals/Supplements, Pain Relief, Other Personal Health Care)
|
Metamucil, Neurobion, Pepto-Bismol, Vicks | |||||||||||||
Fabric & Home Care | 34% | 31% |
Fabric Care (Fabric Enhancers, Laundry Additives, Laundry Detergents)
|
Ariel, Downy, Gain, Tide | ||||||||||
Home Care (Air Care, Dish Care, P&G Professional, Surface Care)
|
Cascade, Dawn, Fairy, Febreze, Mr. Clean, Swiffer | |||||||||||||
Baby, Feminine & Family Care | 25% | 25% |
Baby Care (Baby Wipes, Taped Diapers and Pants)
|
Luvs, Pampers | ||||||||||
Feminine Care (Adult Incontinence, Feminine Care)
|
Always, Always Discreet, Tampax | |||||||||||||
Family Care (Paper Towels, Tissues, Toilet Paper)
|
Bounty, Charmin, Puffs |
Amounts in millions, except per share amounts | 2021 | 2020 | Change vs. Prior Year | ||||||||||||||
Net sales | $ | 76,118 | $ | 70,950 | 7 | % | |||||||||||
Operating income | 17,986 | 15,706 | 15 | % | |||||||||||||
Net earnings | 14,352 | 13,103 | 10 | % | |||||||||||||
Net earnings attributable to Procter & Gamble | 14,306 | 13,027 | 10 | % | |||||||||||||
Diluted net earnings per common share | 5.50 | 4.96 | 11 | % | |||||||||||||
Core earnings per share | 5.66 | 5.12 | 11 | % | |||||||||||||
Cash flow from operating activities | 18,371 | 17,403 | 6 | % |
Comparisons as a percentage of net sales; Years ended June 30 | 2021 | 2020 | Basis Point Change | ||||||||||||||
Gross margin | 51.2 | % | 50.3 | % | 90 | ||||||||||||
Selling, general and administrative expense | 27.6 | % | 28.2 | % | (60) | ||||||||||||
Operating margin | 23.6 | % | 22.1 | % | 150 | ||||||||||||
Earnings before income taxes | 23.1 | % | 22.3 | % | 80 | ||||||||||||
Net earnings | 18.9 | % | 18.5 | % | 40 | ||||||||||||
Net earnings attributable to Procter & Gamble | 18.8 | % | 18.4 | % | 40 |
Net Sales Change Drivers 2021 vs. 2020 (1)
|
|||||||||||||||||||||||||||||||||||||||||
Volume with Acquisitions & Divestitures | Volume Excluding Acquisitions & Divestitures | Foreign Exchange | Price | Mix |
Other (2)
|
Net Sales Growth | |||||||||||||||||||||||||||||||||||
Beauty | 3 | % | 3 | % | 2 | % | 2 | % | 1 | % | — | % | 8 | % | |||||||||||||||||||||||||||
Grooming | 3 | % | 3 | % | — | % | 2 | % | 1 | % | — | % | 6 | % | |||||||||||||||||||||||||||
Health Care | 6 | % | 6 | % | 1 | % | 1 | % | 2 | % | — | % | 10 | % | |||||||||||||||||||||||||||
Fabric & Home Care | 5 | % | 5 | % | 1 | % | 1 | % | 3 | % | — | % | 10 | % | |||||||||||||||||||||||||||
Baby, Feminine & Family Care | — | % | — | % | 1 | % | 1 | % | 1 | % | — | % | 3 | % | |||||||||||||||||||||||||||
TOTAL COMPANY | 3 | % | 3 | % | 1 | % | 1 | % | 2 | % | — | % | 7 | % |
($ millions) | 2021 | 2020 | Change vs. 2020 | ||||||||||||||
Volume | N/A | N/A | 3% | ||||||||||||||
Net sales | $14,417 | $13,359 | 8% | ||||||||||||||
Net earnings | $3,210 | $2,737 | 17% | ||||||||||||||
% of net sales | 22.3% | 20.5% | 180 bps |
($ millions) | 2021 | 2020 | Change vs. 2020 | ||||||||||||||
Volume | N/A | N/A | 3% | ||||||||||||||
Net sales | $6,440 | $6,069 | 6% | ||||||||||||||
Net earnings | $1,427 | $1,329 | 7% | ||||||||||||||
% of net sales | 22.2% | 21.9% | 30 bps |
($ millions) | 2021 | 2020 | Change vs. 2020 | ||||||||||||||
Volume | N/A | N/A | 6% | ||||||||||||||
Net sales | $9,956 | $9,028 | 10% | ||||||||||||||
Net earnings | $1,851 | $1,652 | 12% | ||||||||||||||
% of net sales | 18.6% | 18.3% | 30 bps |
($ millions) | 2021 | 2020 | Change vs. 2020 | ||||||||||||||
Volume | N/A | N/A | 5% | ||||||||||||||
Net sales | $26,014 | $23,735 | 10% | ||||||||||||||
Net earnings | $4,622 | $4,154 | 11% | ||||||||||||||
% of net sales | 17.8% | 17.5% | 30 bps |
($ millions) | 2021 | 2020 | Change vs. 2020 | ||||||||||||||
Volume | N/A | N/A | —% | ||||||||||||||
Net sales | $18,850 | $18,364 | 3% | ||||||||||||||
Net earnings | $3,629 | $3,465 | 5% | ||||||||||||||
% of net sales | 19.3% | 18.9% | 40 bps |
($ millions) | 2021 | 2020 | Change vs. 2020 | ||||||||||||||
Net sales | $441 | $395 | 12% | ||||||||||||||
Net earnings/(loss) | $(387) | $(234) | N/A |
($ millions) | 2021 | 2020 | |||||||||
Net cash provided by operating activities | $ | 18,371 | $ | 17,403 | |||||||
Net cash provided/(used) by investing activities | (2,834) | 3,045 | |||||||||
Net cash used in financing activities | (21,531) | (8,367) | |||||||||
Adjusted Free Cash Flow | 15,809 | 14,873 | |||||||||
Adjusted Free Cash Flow Productivity | 107 | % | 114 | % |
($ millions) | Total | Less Than 1 Year | 1-3 Years | 3-5 Years | After 5 Years | ||||||||||||||||||||||||
RECORDED LIABILITIES | |||||||||||||||||||||||||||||
Total debt | $ | 31,967 | $ | 8,880 | $ | 4,928 | $ | 4,858 | $ | 13,301 | |||||||||||||||||||
Leases | 953 | 219 | 349 | 175 | 210 | ||||||||||||||||||||||||
U.S. Tax Act transitional charge (1)
|
2,115 | 224 | 645 | 1,246 | — | ||||||||||||||||||||||||
Uncertain tax positions (2)
|
9 | 9 | — | — | — | ||||||||||||||||||||||||
OTHER | |||||||||||||||||||||||||||||
Interest payments relating to long-term debt | 5,020 | 599 | 1,010 | 866 | 2,545 | ||||||||||||||||||||||||
Minimum pension funding (3)
|
552 | 179 | 373 | — | — | ||||||||||||||||||||||||
Purchase obligations (4)
|
1,982 | 809 | 599 | 259 | 315 | ||||||||||||||||||||||||
TOTAL CONTRACTUAL COMMITMENTS | $ | 42,598 | $ | 10,919 | $ | 7,904 | $ | 7,404 | $ | 16,371 |
Approximate Percent Change in Estimated Fair Value | |||||||||||||||||
+25 bps Discount Rate |
-25 bps
Growth Rate |
-50 bps Royalty Rate | |||||||||||||||
Shave Care goodwill reporting unit | (6)% | (6)% | N/A | ||||||||||||||
Gillette indefinite-lived intangible asset | (6)% | (6)% | (4)% |
Year ended June 30, 2021 | Net Sales Growth | Foreign Exchange Impact | Acquisition & Divestiture Impact/Other (1) | Organic Sales Growth | ||||||||||
Beauty | 8 | % | (2) | % | — | % | 6 | % | ||||||
Grooming | 6 | % | — | % | — | % | 6 | % | ||||||
Health Care | 10 | % | (1) | % | — | % | 9 | % | ||||||
Fabric & Home Care | 10 | % | (1) | % | — | % | 9 | % | ||||||
Baby, Feminine & Family Care | 3 | % | (1) | % | — | % | 2 | % | ||||||
TOTAL COMPANY | 7 | % | (1) | % | — | % | 6 | % |
Operating
Cash Flow |
Capital
Spending |
Adjustments to Operating Cash Flow (1)
|
Adjusted Free
Cash Flow |
|||||||||||
2021 | $ | 18,371 | $ | (2,787) | $ | 225 | $ | 15,809 | ||||||
2020 | $ | 17,403 | $ | (3,073) | $ | 543 | $ | 14,873 |
Adjusted Free Cash Flow |
Net
Earnings |
Early Debt Extinguishment Charges | Net Earnings Excluding Adjustments |
Adjusted Free
Cash Flow Productivity |
|||||||||||||
2021 | $ | 15,809 | $ | 14,352 | $ | 427 | $ | 14,779 | 107 | % | |||||||
2020 | 14,873 | 13,103 | — | 13,103 | 114 | % |
THE PROCTER & GAMBLE COMPANY AND SUBSIDIARIES
(Amounts in Millions Except Per Share Amounts) Reconciliation of Non-GAAP Measures |
||||||||||||||||||||||||||||||||||||||
Twelve Months Ended June 30, 2021 | Twelve Months Ended June 30, 2020 | |||||||||||||||||||||||||||||||||||||
AS REPORTED (GAAP) |
EARLY DEBT EXTINGUISHMENT
|
NON-GAAP (CORE) | AS REPORTED (GAAP) | INCREMENTAL RESTRUCTURING | NON-GAAP (CORE) | |||||||||||||||||||||||||||||||||
NET EARNINGS ATTRIBUTABLE TO P&G | 14,306 | 427 | 14,733 | 13,027 | 415 | 13,442 | ||||||||||||||||||||||||||||||||
Core EPS | Core EPS | |||||||||||||||||||||||||||||||||||||
DILUTED NET EARNINGS PER COMMON SHARE (1)
|
$ | 5.50 | $ | 0.16 | $ | 5.66 | $ | 4.96 | $ | 0.16 | $ | 5.12 |
CHANGE VERSUS YEAR AGO | |||||||||||
CORE EPS | 11 | % |
/s/ David S. Taylor | ||
(David S. Taylor) | ||
Chairman of the Board, President and Chief Executive Officer | ||
/s/ Andre Schulten | ||
(Andre Schulten)
|
||
Chief Financial Officer | ||
August 6, 2021 |
/s/ Deloitte & Touche LLP
|
||
Cincinnati, Ohio
|
||
August 6, 2021 | ||
We have served as the Company’s auditor since 1890. |
/s/ Deloitte & Touche LLP
|
||
Cincinnati, Ohio
|
||
August 6, 2021 |
Amounts in millions except per share amounts; Years ended June 30 | 2021 | 2020 | 2019 | ||||||||||||||
NET SALES | $ | 76,118 | $ | 70,950 | $ | 67,684 | |||||||||||
Cost of products sold | 37,108 | 35,250 | 34,768 | ||||||||||||||
Selling, general and administrative expense | 21,024 | 19,994 | 19,084 | ||||||||||||||
Goodwill and indefinite-lived intangible impairment charges | — | — | 8,345 | ||||||||||||||
OPERATING INCOME | 17,986 | 15,706 | 5,487 | ||||||||||||||
Interest expense | (502) | (465) | (509) | ||||||||||||||
Interest income | 45 | 155 | 220 | ||||||||||||||
Other non-operating income, net | 86 | 438 | 871 | ||||||||||||||
EARNINGS BEFORE INCOME TAXES | 17,615 | 15,834 | 6,069 | ||||||||||||||
Income taxes | 3,263 | 2,731 | 2,103 | ||||||||||||||
NET EARNINGS | 14,352 | 13,103 | 3,966 | ||||||||||||||
Less: Net earnings attributable to noncontrolling interests | 46 | 76 | 69 | ||||||||||||||
NET EARNINGS ATTRIBUTABLE TO PROCTER & GAMBLE | $ | 14,306 | $ | 13,027 | $ | 3,897 | |||||||||||
NET EARNINGS PER COMMON SHARE: (1)
|
|||||||||||||||||
Basic | $ | 5.69 | $ | 5.13 | $ | 1.45 | |||||||||||
Diluted | $ | 5.50 | $ | 4.96 | $ | 1.43 | |||||||||||
Amounts in millions; Years ended June 30
|
2021 | 2020 | 2019 | ||||||||||||||
NET EARNINGS | $ | 14,352 | $ | 13,103 | $ | 3,966 | |||||||||||
OTHER COMPREHENSIVE INCOME/(LOSS), NET OF TAX | |||||||||||||||||
Foreign currency translation (net of tax of $(266), $59 and $78, respectively)
|
1,023 | (1,083) | (213) | ||||||||||||||
Unrealized gains/(losses) on investment securities (net of tax of $5, $(1) and $0, respectively)
|
16 | (12) | 184 | ||||||||||||||
Unrealized gains/(losses) on defined benefit retirement plans (net of tax of $445, $(42) and $22, respectively)
|
1,386 | (150) | 169 | ||||||||||||||
TOTAL OTHER COMPREHENSIVE INCOME/(LOSS), NET OF TAX | 2,425 | (1,245) | 140 | ||||||||||||||
TOTAL COMPREHENSIVE INCOME | 16,777 | 11,858 | 4,106 | ||||||||||||||
Less: Total comprehensive income attributable to noncontrolling interests | 50 | 60 | 70 | ||||||||||||||
TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO PROCTER & GAMBLE | $ | 16,727 | $ | 11,798 | $ | 4,036 |
Amounts in millions except stated values; As of June 30 | 2021 | 2020 | |||||||||
Assets | |||||||||||
CURRENT ASSETS | |||||||||||
Cash and cash equivalents | $ | 10,288 | $ | 16,181 | |||||||
Accounts receivable | 4,725 | 4,178 | |||||||||
INVENTORIES | |||||||||||
Materials and supplies | 1,645 | 1,414 | |||||||||
Work in process | 719 | 674 | |||||||||
Finished goods | 3,619 | 3,410 | |||||||||
Total inventories | 5,983 | 5,498 | |||||||||
Prepaid expenses and other current assets | 2,095 | 2,130 | |||||||||
TOTAL CURRENT ASSETS | 23,091 | 27,987 | |||||||||
PROPERTY, PLANT AND EQUIPMENT, NET | 21,686 | 20,692 | |||||||||
GOODWILL | 40,924 | 39,901 | |||||||||
TRADEMARKS AND OTHER INTANGIBLE ASSETS, NET | 23,642 | 23,792 | |||||||||
OTHER NONCURRENT ASSETS | 9,964 | 8,328 | |||||||||
TOTAL ASSETS | $ | 119,307 | $ | 120,700 | |||||||
Liabilities and Shareholders' Equity | |||||||||||
CURRENT LIABILITIES | |||||||||||
Accounts payable | $ | 13,720 | $ | 12,071 | |||||||
Accrued and other liabilities | 10,523 | 9,722 | |||||||||
Debt due within one year | 8,889 | 11,183 | |||||||||
TOTAL CURRENT LIABILITIES | 33,132 | 32,976 | |||||||||
LONG-TERM DEBT | 23,099 | 23,537 | |||||||||
DEFERRED INCOME TAXES | 6,153 | 6,199 | |||||||||
OTHER NONCURRENT LIABILITIES | 10,269 | 11,110 | |||||||||
TOTAL LIABILITIES | 72,653 | 73,822 | |||||||||
SHAREHOLDERS' EQUITY | |||||||||||
Convertible Class A preferred stock, stated value $1 per share (600 shares authorized)
|
870 | 897 | |||||||||
Non-Voting Class B preferred stock, stated value $1 per share (200 shares authorized)
|
— | — | |||||||||
Common stock, stated value $1 per share (10,000 shares authorized; shares issued: 2021 - 4,009.2, 2020 - 4,009.2)
|
4,009 | 4,009 | |||||||||
Additional paid-in capital | 64,848 | 64,194 | |||||||||
Reserve for ESOP debt retirement | (1,006) | (1,080) | |||||||||
Accumulated other comprehensive loss | (13,744) | (16,165) | |||||||||
Treasury stock, at cost (shares held: 2021 - 1,579.5, 2020 - 1,529.5)
|
(114,973) | (105,573) | |||||||||
Retained earnings | 106,374 | 100,239 | |||||||||
Noncontrolling interest | 276 | 357 | |||||||||
TOTAL SHAREHOLDERS' EQUITY | 46,654 | 46,878 | |||||||||
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ | 119,307 | $ | 120,700 |
Dollars in millions except per share amounts; shares in thousands
|
Common Stock | Preferred Stock | Additional Paid-In Capital | Reserve for ESOP Debt Retirement |
Accumulated
Other Comp-rehensive Income/(Loss) |
Treasury Stock | Retained Earnings | Non-controlling Interest | Total Share-holders' Equity | |||||||||||||||||||||||
Shares | Amount | |||||||||||||||||||||||||||||||
BALANCE JUNE 30, 2018 | 2,498,093 | $4,009 | $967 | $63,846 | ($1,204) | ($14,749) | ($99,217) | $98,641 | $590 | $52,883 | ||||||||||||||||||||||
Impact of adoption of new accounting standards | (326) | (200) | (27) | (553) | ||||||||||||||||||||||||||||
Net earnings | 3,897 | 69 | 3,966 | |||||||||||||||||||||||||||||
Other comprehensive income/(loss) | 139 | 1 | 140 | |||||||||||||||||||||||||||||
Dividends and dividend equivalents ($2.8975 per share):
|
||||||||||||||||||||||||||||||||
Common | (7,256) | (7,256) | ||||||||||||||||||||||||||||||
Preferred | (263) | (263) | ||||||||||||||||||||||||||||||
Treasury stock purchases | (53,714) | (5,003) | (5,003) | |||||||||||||||||||||||||||||
Employee stock plans | 55,734 | 93 | 3,781 | 3,874 | ||||||||||||||||||||||||||||
Preferred stock conversions | 4,638 | (39) | 6 | 33 | — | |||||||||||||||||||||||||||
ESOP debt impacts | 58 | 99 | 157 | |||||||||||||||||||||||||||||
Noncontrolling interest, net | (118) | (248) | (366) | |||||||||||||||||||||||||||||
BALANCE JUNE 30, 2019 | 2,504,751 | $4,009 | $928 | $63,827 | ($1,146) | ($14,936) | ($100,406) | $94,918 | $385 | $47,579 | ||||||||||||||||||||||
Net earnings | 13,027 | 76 | 13,103 | |||||||||||||||||||||||||||||
Other comprehensive income/(loss) | (1,229) | (16) | (1,245) | |||||||||||||||||||||||||||||
Dividends and dividend equivalents ($3.0284 per share):
|
||||||||||||||||||||||||||||||||
Common | (7,551) | (7,551) | ||||||||||||||||||||||||||||||
Preferred | (263) | (263) | ||||||||||||||||||||||||||||||
Treasury stock purchases | (61,346) | (7,405) | (7,405) | |||||||||||||||||||||||||||||
Employee stock plans | 32,603 | 362 | 2,212 | 2,574 | ||||||||||||||||||||||||||||
Preferred stock conversions | 3,738 | (31) | 5 | 26 | — | |||||||||||||||||||||||||||
ESOP debt impacts | 66 | 108 | 174 | |||||||||||||||||||||||||||||
Noncontrolling interest, net | (88) | (88) | ||||||||||||||||||||||||||||||
BALANCE JUNE 30, 2020 | 2,479,746 | $4,009 | $897 | $64,194 | ($1,080) | ($16,165) | ($105,573) | $100,239 | $357 | $46,878 | ||||||||||||||||||||||
Net earnings | 14,306 | 46 | 14,352 | |||||||||||||||||||||||||||||
Other comprehensive income/(loss) | 2,421 | 4 | 2,425 | |||||||||||||||||||||||||||||
Dividends and dividend equivalents ($3.2419 per share):
|
||||||||||||||||||||||||||||||||
Common | (8,020) | (8,020) | ||||||||||||||||||||||||||||||
Preferred | (271) | (271) | ||||||||||||||||||||||||||||||
Treasury stock purchases | (81,343) | (11,009) | (11,009) | |||||||||||||||||||||||||||||
Employee stock plans | 28,001 | 650 | 1,586 | 2,236 | ||||||||||||||||||||||||||||
Preferred stock conversions | 3,302 | (27) | 4 | 23 | — | |||||||||||||||||||||||||||
ESOP debt impacts | 74 | 120 | 194 | |||||||||||||||||||||||||||||
Noncontrolling interest, net | (131) | (131) | ||||||||||||||||||||||||||||||
BALANCE JUNE 30, 2021 | 2,429,706 | $4,009 | $870 | $64,848 | ($1,006) | ($13,744) | ($114,973) | $106,374 | $276 | $46,654 |
Amounts in millions; Years ended June 30 | 2021 | 2020 | 2019 | ||||||||||||||
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF YEAR | $ | 16,181 | $ | 4,239 | $ | 2,569 | |||||||||||
OPERATING ACTIVITIES | |||||||||||||||||
Net earnings | 14,352 | 13,103 | 3,966 | ||||||||||||||
Depreciation and amortization | 2,735 | 3,013 | 2,824 | ||||||||||||||
Loss on early extinguishment of debt | 512 | — | — | ||||||||||||||
Share-based compensation expense | 540 | 558 | 515 | ||||||||||||||
Deferred income taxes | (258) | (596) | (411) | ||||||||||||||
Loss/(gain) on sale of assets | (16) | 7 | (678) | ||||||||||||||
Goodwill and indefinite-lived intangible impairment charges | — | — | 8,345 | ||||||||||||||
Change in accounts receivable | (342) | 634 | (276) | ||||||||||||||
Change in inventories | (309) | (637) | (239) | ||||||||||||||
Change in accounts payable, accrued and other liabilities | 1,391 | 1,923 | 1,856 | ||||||||||||||
Change in other operating assets and liabilities | (369) | (710) | (973) | ||||||||||||||
Other | 135 | 108 | 313 | ||||||||||||||
TOTAL OPERATING ACTIVITIES | 18,371 | 17,403 | 15,242 | ||||||||||||||
INVESTING ACTIVITIES | |||||||||||||||||
Capital expenditures | (2,787) | (3,073) | (3,347) | ||||||||||||||
Proceeds from asset sales | 42 | 30 | 394 | ||||||||||||||
Acquisitions, net of cash acquired | (34) | (58) | (3,945) | ||||||||||||||
Purchases of investment securities | (55) | — | (158) | ||||||||||||||
Proceeds from sales and maturities of investment securities | — | 6,151 | 3,628 | ||||||||||||||
Change in other investments | — | (5) | (62) | ||||||||||||||
TOTAL INVESTING ACTIVITIES | (2,834) | 3,045 | (3,490) | ||||||||||||||
FINANCING ACTIVITIES | |||||||||||||||||
Dividends to shareholders | (8,263) | (7,789) | (7,498) | ||||||||||||||
Increases/(reductions) in short-term debt | (3,333) | 2,345 | (2,215) | ||||||||||||||
Additions to long-term debt | 4,417 | 4,951 | 2,367 | ||||||||||||||
Reductions of long-term debt (1)
|
(4,987) | (2,447) | (969) | ||||||||||||||
Treasury stock purchases | (11,009) | (7,405) | (5,003) | ||||||||||||||
Impact of stock options and other | 1,644 | 1,978 | 3,324 | ||||||||||||||
TOTAL FINANCING ACTIVITIES | (21,531) | (8,367) | (9,994) | ||||||||||||||
EFFECT OF EXCHANGE RATE CHANGES ON CASH, CASH EQUIVALENTS AND RESTRICTED CASH | 101 | (139) | (88) | ||||||||||||||
CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH | (5,893) | 11,942 | 1,670 | ||||||||||||||
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF YEAR | $ | 10,288 | $ | 16,181 | $ | 4,239 | |||||||||||
SUPPLEMENTAL DISCLOSURE | |||||||||||||||||
Cash payments for interest | $ | 531 | $ | 434 | $ | 497 | |||||||||||
Cash payments for income taxes | 3,822 | 3,550 | 3,064 |
% of Net sales by operating segment (1)
|
|||||||||||||||||
Years ended June 30 | 2021 | 2020 | 2019 | ||||||||||||||
Fabric Care | 22% | 22% | 22% | ||||||||||||||
Home Care | 12% | 11% | 10% | ||||||||||||||
Baby Care | 10% | 11% | 12% | ||||||||||||||
Skin and Personal Care | 10% | 10% | 10% | ||||||||||||||
Hair Care | 9% | 9% | 10% | ||||||||||||||
Family Care | 9% | 9% | 9% | ||||||||||||||
Oral Care | 8% | 8% | 8% | ||||||||||||||
Shave Care | 7% | 7% | 8% | ||||||||||||||
Feminine Care | 6% | 6% | 6% | ||||||||||||||
Personal Health Care | 5% | 5% | 4% | ||||||||||||||
All Other | 2% | 2% | 1% | ||||||||||||||
TOTAL | 100% | 100% | 100% |
Years ended June 30 | 2021 | 2020 | 2019 | |||||||||||||||||
NET SALES | ||||||||||||||||||||
United States | $ | 33.7 | $ | 31.3 | $ | 28.6 | ||||||||||||||
International | $ | 42.4 | $ | 39.7 | $ | 39.1 | ||||||||||||||
LONG-LIVED ASSETS (1)
|
||||||||||||||||||||
United States | $ | 10.1 | $ | 9.9 | $ | 10.0 | ||||||||||||||
International | $ | 11.6 | $ | 10.8 | $ | 11.3 |
Global Segment Results | Net Sales |
Earnings/(Loss)
Before Income Taxes |
Net Earnings/(Loss) |
Depreciation
and Amortization |
Total
Assets |
Capital
Expenditures |
|||||||||||||||||||||||||||||||||||
BEAUTY | 2021 | $ | 14,417 | $ | 4,018 | $ | 3,210 | $ | 333 | $ | 5,587 | $ | 386 | ||||||||||||||||||||||||||||
2020 | 13,359 | 3,437 | 2,737 | 320 | 5,531 | 397 | |||||||||||||||||||||||||||||||||||
2019 | 12,897 | 3,282 | 2,637 | 272 | 5,362 | 634 | |||||||||||||||||||||||||||||||||||
GROOMING | 2021 | 6,440 | 1,728 | 1,427 | 378 | 20,668 | 291 | ||||||||||||||||||||||||||||||||||
2020 | 6,069 | 1,613 | 1,329 | 406 | 20,589 | 305 | |||||||||||||||||||||||||||||||||||
2019 | 6,199 | 1,777 | 1,529 | 429 | 20,882 | 367 | |||||||||||||||||||||||||||||||||||
HEALTH CARE | 2021 | 9,956 | 2,398 | 1,851 | 372 | 7,976 | 364 | ||||||||||||||||||||||||||||||||||
2020 | 9,028 | 2,156 | 1,652 | 350 | 7,726 | 338 | |||||||||||||||||||||||||||||||||||
2019 | 8,218 | 1,984 | 1,519 | 294 | 7,708 | 363 | |||||||||||||||||||||||||||||||||||
FABRIC & HOME CARE | 2021 | 26,014 | 5,986 | 4,622 | 646 | 8,334 | 1,006 | ||||||||||||||||||||||||||||||||||
2020 | 23,735 | 5,426 | 4,154 | 605 | 7,745 | 887 | |||||||||||||||||||||||||||||||||||
2019 | 22,080 | 4,601 | 3,518 | 557 | 7,620 | 984 | |||||||||||||||||||||||||||||||||||
BABY, FEMININE & FAMILY CARE | 2021 | 18,850 | 4,723 | 3,629 | 846 | 8,666 | 814 | ||||||||||||||||||||||||||||||||||
2020 | 18,364 | 4,534 | 3,465 | 839 | 8,628 | 764 | |||||||||||||||||||||||||||||||||||
2019 | 17,806 | 3,593 | 2,734 | 861 | 9,271 | 819 | |||||||||||||||||||||||||||||||||||
CORPORATE (1)
|
2021 | 441 | (1,238) | (387) | 160 | 68,076 | (74) | ||||||||||||||||||||||||||||||||||
2020 | 395 | (1,332) | (234) | 493 | 70,481 | 382 | |||||||||||||||||||||||||||||||||||
2019 | 484 | (9,168) | (7,971) | 411 | 64,252 | 180 | |||||||||||||||||||||||||||||||||||
TOTAL COMPANY | 2021 | $ | 76,118 | $ | 17,615 | $ | 14,352 | $ | 2,735 | $ | 119,307 | $ | 2,787 | ||||||||||||||||||||||||||||
2020 | 70,950 | 15,834 | 13,103 | 3,013 | 120,700 | 3,073 | |||||||||||||||||||||||||||||||||||
2019 | 67,684 | 6,069 | 3,966 | 2,824 | 115,095 | 3,347 |
As of June 30 | 2021 | 2020 | |||||||||
PROPERTY, PLANT AND EQUIPMENT | |||||||||||
Buildings | $ | 8,165 | $ | 7,700 | |||||||
Machinery and equipment | 35,367 | 33,260 | |||||||||
Land | 808 | 777 | |||||||||
Construction in progress | 2,358 | 2,034 | |||||||||
TOTAL PROPERTY, PLANT AND EQUIPMENT | 46,698 | 43,771 | |||||||||
Accumulated depreciation | (25,012) | (23,079) | |||||||||
PROPERTY, PLANT AND EQUIPMENT, NET | $ | 21,686 | $ | 20,692 |
Separations | Asset-Related Costs | Other | Total | |||||||||||
RESERVE JUNE 30, 2019 | $ | 280 | $ | — | $ | 188 | $ | 468 | ||||||
Cost incurred and charged to expense | 221 | 372 | 189 | 782 | ||||||||||
Cost paid/settled | (216) | (372) | (190) | (778) | ||||||||||
RESERVE JUNE 30, 2020 | 285 | — | 187 | 472 | ||||||||||
Cost incurred and charged to expense | 127 | 24 | 179 | 330 | ||||||||||
Cost paid/settled | (236) | (24) | (264) | (524) | ||||||||||
RESERVE JUNE 30, 2021 | $ | 176 | $ | — | $ | 102 | $ | 278 |
Years ended June 30 | 2021 | 2020 | 2019 | ||||||||
Beauty | $ | 13 | $ | 54 | $ | 49 | |||||
Grooming | 25 | 102 | 65 | ||||||||
Health Care | 51 | 136 | 23 | ||||||||
Fabric & Home Care | 22 | 75 | 84 | ||||||||
Baby, Feminine & Family Care | 29 | 192 | 226 | ||||||||
Corporate (1)
|
190 | 223 | 307 | ||||||||
Total Company | $ | 330 | $ | 782 | $ | 754 |
Beauty | Grooming | Health Care | Fabric & Home Care | Baby, Feminine & Family Care | Total Company | |||||||||||||||
BALANCE AT JUNE 30, 2019 - NET (1)
|
$ | 12,985 | $ | 12,881 | $ | 7,972 | $ | 1,855 | $ | 4,580 | $ | 40,273 | ||||||||
Acquisitions and divestitures | (1) | — | (46) | — | 5 | (42) | ||||||||||||||
Translation and other | (82) | (66) | (140) | (14) | (28) | (330) | ||||||||||||||
BALANCE AT JUNE 30, 2020 - NET (1)
|
12,902 | 12,815 | 7,786 | 1,841 | 4,557 | 39,901 | ||||||||||||||
Acquisitions and divestitures | — | — | 16 | — | — | 16 | ||||||||||||||
Translation and other | 355 | 280 | 244 | 32 | 96 | 1,007 | ||||||||||||||
BALANCE AT JUNE 30, 2021 - NET (1)
|
$ | 13,257 | $ | 13,095 | $ | 8,046 | $ | 1,873 | $ | 4,653 | $ | 40,924 |
Years ended June 30 | 2021 | 2020 | 2019 | ||||||||||||||
Intangible asset amortization | $ | 318 | $ | 360 | $ | 349 |
Years ending June 30 | 2022 | 2023 | 2024 | 2025 | 2026 | ||||||||||||
Estimated amortization expense | $ | 301 | $ | 289 | $ | 277 | $ | 259 | $ | 243 |
Years ended June 30 | 2021 | 2020 | 2019 | ||||||||||||||
United States | $ | 10,858 | $ | 10,338 | $ | 1,659 | |||||||||||
International | 6,757 | 5,496 | 4,410 | ||||||||||||||
TOTAL | $ | 17,615 | $ | 15,834 | $ | 6,069 |
Years ended June 30 | 2021 | 2020 | 2019 | ||||||||||||||
CURRENT TAX EXPENSE | |||||||||||||||||
U.S. federal | $ | 1,663 | $ | 1,266 | $ | 1,064 | |||||||||||
International | 1,534 | 1,769 | 1,259 | ||||||||||||||
U.S. state and local | 324 | 292 | 191 | ||||||||||||||
TOTAL | 3,521 | 3,327 | 2,514 | ||||||||||||||
DEFERRED TAX EXPENSE/(BENEFIT) | |||||||||||||||||
U.S. federal | (65) | 39 | (296) | ||||||||||||||
International and other | (193) | (635) | (115) | ||||||||||||||
TOTAL | (258) | (596) | (411) | ||||||||||||||
TOTAL TAX EXPENSE | $ | 3,263 | $ | 2,731 | $ | 2,103 |
Years ended June 30 | 2021 | 2020 | 2019 | ||||||||||||||
U.S. federal statutory income tax rate | 21.0 | % | 21.0 | % | 21.0 | % | |||||||||||
Country mix impacts of foreign operations | (0.5) | % | (0.1) | % | (0.5) | % | |||||||||||
State income taxes, net of federal benefit | 1.3 | % | 1.4 | % | 2.6 | % | |||||||||||
Excess tax benefits from the exercise of stock options | (1.6) | % | (1.6) | % | (3.8) | % | |||||||||||
Tax benefit from simplification of legal entity structure | — | % | (1.4) | % | — | % | |||||||||||
Foreign derived intangible income deduction (FDII) | (1.0) | % | (1.0) | % | (2.2) | % | |||||||||||
Changes in uncertain tax positions | (0.1) | % | 0.1 | % | (0.3) | % | |||||||||||
Goodwill impairment | — | % | — | % | 22.8 | % | |||||||||||
Other | (0.6) | % | (1.2) | % | (4.9) | % | |||||||||||
EFFECTIVE INCOME TAX RATE | 18.5 | % | 17.2 | % | 34.7 | % |
Years ended June 30 | 2021 | 2020 | 2019 | ||||||||||||||
BEGINNING OF YEAR | $ | 485 | $ | 466 | $ | 470 | |||||||||||
Increases in tax positions for prior years | 157 | 60 | 85 | ||||||||||||||
Decreases in tax positions for prior years | (34) | (21) | (94) | ||||||||||||||
Increases in tax positions for current year | 60 | 82 | 71 | ||||||||||||||
Settlements with taxing authorities | (26) | (83) | (37) | ||||||||||||||
Lapse in statute of limitations | (24) | (12) | (27) | ||||||||||||||
Currency translation | 9 | (7) | (2) | ||||||||||||||
END OF YEAR | $ | 627 | $ | 485 | $ | 466 |
DEFERRED TAX LIABILITIES | |||||||||||
Goodwill and intangible assets | $ | 5,761 | $ | 5,775 | |||||||
Fixed assets | 1,512 | 1,485 | |||||||||
Lease right-of-use assets | 191 | 185 | |||||||||
Unrealized gain on financial and foreign exchange transactions | 111 | 169 | |||||||||
Foreign withholding tax on earnings to be repatriated | 108 | 118 | |||||||||
Other retiree benefits | 645 | 265 | |||||||||
Other | 175 | 101 | |||||||||
TOTAL | $ | 8,503 | $ | 8,098 |
Years ended June 30 | 2021 | 2020 | 2019 | ||||||||||||||
CONSOLIDATED AMOUNTS | |||||||||||||||||
Net earnings | $ | 14,352 | $ | 13,103 | $ | 3,966 | |||||||||||
Less: Net earnings attributable to noncontrolling interests | 46 | 76 | 69 | ||||||||||||||
Net earnings attributable to P&G | 14,306 | 13,027 | 3,897 | ||||||||||||||
Less: Preferred dividends | 271 | 263 | 263 | ||||||||||||||
Net earnings attributable to P&G available to common shareholders (Basic) | $ | 14,035 | $ | 12,764 | $ | 3,634 | |||||||||||
Net earnings attributable to P&G available to common shareholders (Diluted) | $ | 14,306 | $ | 13,027 | $ | 3,634 | |||||||||||
SHARES IN MILLIONS | |||||||||||||||||
Basic weighted average common shares outstanding | 2,465.8 | 2,487.1 | 2,503.6 | ||||||||||||||
Add: Effect of dilutive securities | |||||||||||||||||
Stock options and other unvested equity awards (1)
|
52.5 | 52.7 | 35.9 | ||||||||||||||
Convertible preferred shares (2)
|
82.7 | 86.0 | — | ||||||||||||||
Diluted weighted average common shares outstanding | 2,601.0 | 2,625.8 | 2,539.5 | ||||||||||||||
NET EARNINGS PER SHARE (3)
|
|||||||||||||||||
Basic | $ | 5.69 | $ | 5.13 | $ | 1.45 | |||||||||||
Diluted | $ | 5.50 | $ | 4.96 | $ | 1.43 |
Years ended June 30 | 2021 | 2020 | 2019 | ||||||||||||||
Stock options | $ | 279 | $ | 249 | $ | 246 | |||||||||||
RSUs and PSUs | 261 | 309 | 269 | ||||||||||||||
Total stock-based expense | $ | 540 | $ | 558 | $ | 515 | |||||||||||
Income tax benefit | $ | 102 | $ | 97 | $ | 101 |
Years ended June 30 | 2021 | 2020 | 2019 | ||||||||||||||||||||||||||||||||
Interest rate | 0.1 | - | 0.7 | % | 1.1 | - | 1.4 | % | 2.5 | - | 2.7 | % | |||||||||||||||||||||||
Weighted average interest rate | 0.6 | % | 1.3 | % | 2.6 | % | |||||||||||||||||||||||||||||
Dividend yield | 2.4 | % | 2.4 | % | 3.0 | % | |||||||||||||||||||||||||||||
Expected volatility | 20 | % | 17 | % | 17 | % | |||||||||||||||||||||||||||||
Expected life in years | 9.2 | 9.2 | 9.2 |
Options | Options (in thousands) | Weighted Average Exercise Price | Weighted Average Contract-ual Life in Years | Aggregate Intrinsic Value | ||||||||||
Outstanding, beginning of year | 149,872 | $ | 84.71 | |||||||||||
Granted | 12,133 | 139.05 | ||||||||||||
Exercised | (23,102) | 73.72 | ||||||||||||
Forfeited/expired | (631) | 106.72 | ||||||||||||
OUTSTANDING, END OF YEAR | 138,272 | $ | 91.24 | 5.4 | $ | 6,098 | ||||||||
EXERCISABLE | 99,177 | $ | 81.47 | 4.1 | $ | 5,302 |
Years ended June 30 | 2021 | 2020 | 2019 | ||||||||||||||
Weighted average grant-date fair value of options granted | $ | 20.94 | $ | 15.60 | $ | 13.60 | |||||||||||
Intrinsic value of options exercised | 1,401 | 1,455 | 1,770 | ||||||||||||||
Grant-date fair value of options that vested | 236 | 217 | 180 | ||||||||||||||
Cash received from options exercised | 1,705 | 2,019 | 3,381 | ||||||||||||||
Actual tax benefit from options exercised | 292 | 298 | 221 |
RSUs | PSUs | ||||||||||||||||
RSU and PSU awards | Units (in thousands) | Weighted Average Grant Date Fair Value | Units (in thousands) | Weighted Average Grant Date Fair Value | |||||||||||||
Non-vested at July 1, 2020 | 4,498 | $ | 92.15 | 1,048 | $ | 117.02 | |||||||||||
Granted | 1,274 | 137.71 | 472 | 152.04 | |||||||||||||
Vested | (2,445) | 85.40 | (529) | 106.66 | |||||||||||||
Forfeited | (90) | 108.30 | (20) | 140.88 | |||||||||||||
Non-vested at June 30, 2021 | 3,237 | $ | 114.68 | 971 | $ | 135.24 |
Pension Benefits (1)
|
Other Retiree Benefits (2)
|
||||||||||||||||||||||
Years ended June 30 | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||
CHANGE IN BENEFIT OBLIGATION | |||||||||||||||||||||||
Benefit obligation at beginning of year (3)
|
$ | 17,761 | $ | 17,037 | $ | 4,770 | $ | 4,964 | |||||||||||||||
Service cost | 275 | 247 | 94 | 100 | |||||||||||||||||||
Interest cost | 240 | 276 | 114 | 160 | |||||||||||||||||||
Participants' contributions | 13 | 11 | 76 | 74 | |||||||||||||||||||
Amendments | 34 | 3 | — | (136) | |||||||||||||||||||
Net actuarial loss/(gain) | (466) | 951 | (678) | (85) | |||||||||||||||||||
Special termination benefits | 17 | 11 | 2 | 2 | |||||||||||||||||||
Currency translation and other | 1,220 | (218) | 64 | (64) | |||||||||||||||||||
Benefit payments | (625) | (557) | (236) | (245) | |||||||||||||||||||
BENEFIT OBLIGATION AT END OF YEAR (3)
|
$ | 18,469 | $ | 17,761 | $ | 4,206 | $ | 4,770 |
CHANGE IN PLAN ASSETS | |||||||||||||||||||||||
Fair value of plan assets at beginning of year | $ | 11,484 | $ | 11,382 | $ | 5,618 | $ | 5,096 | |||||||||||||||
Actual return on plan assets | 1,058 | 664 | 879 | 595 | |||||||||||||||||||
Employer contributions | 202 | 180 | 34 | 33 | |||||||||||||||||||
Participants' contributions | 13 | 11 | 76 | 74 | |||||||||||||||||||
Currency translation and other | 909 | (196) | 2 | 2 | |||||||||||||||||||
ESOP debt impacts (4)
|
— | — | 71 | 63 | |||||||||||||||||||
Benefit payments | (625) | (557) | (236) | (245) | |||||||||||||||||||
FAIR VALUE OF PLAN ASSETS AT END OF YEAR | $ | 13,041 | $ | 11,484 | $ | 6,444 | $ | 5,618 | |||||||||||||||
FUNDED STATUS | $ | (5,428) | $ | (6,277) | $ | 2,238 | $ | 848 |
Pension Benefits | Other Retiree Benefits | ||||||||||||||||||||||
As of June 30 | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||
CLASSIFICATION OF NET AMOUNT RECOGNIZED | |||||||||||||||||||||||
Noncurrent assets | $ | 88 | $ | 12 | $ | 3,193 | $ | 1,843 | |||||||||||||||
Current liabilities | (64) | (66) | (33) | (30) | |||||||||||||||||||
Noncurrent liabilities | (5,452) | (6,223) | (922) | (965) | |||||||||||||||||||
NET AMOUNT RECOGNIZED | $ | (5,428) | $ | (6,277) | $ | 2,238 | $ | 848 | |||||||||||||||
AMOUNTS RECOGNIZED IN ACCUMULATED OTHER COMPREHENSIVE (INCOME)/LOSS (AOCI) | |||||||||||||||||||||||
Net actuarial loss/(gain) | $ | 4,869 | $ | 5,662 | $ | (504) | $ | 572 | |||||||||||||||
Prior service cost/(credit) | 198 | 198 | (471) | (511) | |||||||||||||||||||
NET AMOUNTS RECOGNIZED IN AOCI | $ | 5,067 | $ | 5,860 | $ | (975) | $ | 61 |
As of June 30 | 2021 | 2020 | |||||||||
PENSION PLANS WITH A PROJECTED BENEFIT OBLIGATION IN EXCESS OF PLAN ASSETS | |||||||||||
Projected benefit obligation | $ | 11,747 | $ | 17,635 | |||||||
Fair value of plan assets | 6,231 | 11,347 | |||||||||
PENSION PLANS WITH AN ACCUMULATED BENEFIT OBLIGATION IN EXCESS OF PLAN ASSETS | |||||||||||
Accumulated benefit obligation | $ | 11,005 | $ | 11,196 | |||||||
Fair value of plan assets | 6,226 | 5,994 | |||||||||
OTHER RETIREE BENEFIT PLANS WITH AN ACCUMULATED BENEFIT OBLIGATION IN EXCESS OF PLAN ASSETS | |||||||||||
Accumulated benefit obligation | $ | 1,082 | $ | 1,136 | |||||||
Fair value of plan assets | 127 | 141 |
Pension Benefits | Other Retiree Benefits | ||||||||||||||||||||||||||||||||||
Years ended June 30 | 2021 | 2020 | 2019 | 2021 | 2020 | 2019 | |||||||||||||||||||||||||||||
AMOUNTS RECOGNIZED IN NET PERIODIC BENEFIT COST | |||||||||||||||||||||||||||||||||||
Service cost | $ | 275 | $ | 247 | $ | 259 | $ | 94 | $ | 100 | $ | 101 | |||||||||||||||||||||||
Interest cost | 240 | 276 | 339 | 114 | 160 | 187 | |||||||||||||||||||||||||||||
Expected return on plan assets | (783) | (740) | (732) | (508) | (473) | (447) | |||||||||||||||||||||||||||||
Amortization of net actuarial loss | 423 | 340 | 225 | 47 | 68 | 66 | |||||||||||||||||||||||||||||
Amortization of prior service cost/(credit) | 25 | 25 | 26 | (60) | (48) | (48) | |||||||||||||||||||||||||||||
Amortization of net actuarial loss/prior service cost due to settlements | 5 | 7 | 9 | — | — | — | |||||||||||||||||||||||||||||
Special termination benefits | 17 | 11 | 13 | 2 | 2 | 8 | |||||||||||||||||||||||||||||
GROSS BENEFIT COST/(CREDIT) | 202 | 166 | 139 | (311) | (191) | (133) | |||||||||||||||||||||||||||||
Dividends on ESOP preferred stock | — | — | — | (8) | (19) | (28) | |||||||||||||||||||||||||||||
NET PERIODIC BENEFIT COST/(CREDIT) | $ | 202 | $ | 166 | $ | 139 | $ | (319) | $ | (210) | $ | (161) | |||||||||||||||||||||||
CHANGE IN PLAN ASSETS AND BENEFIT OBLIGATIONS RECOGNIZED IN AOCI | |||||||||||||||||||||||||||||||||||
Net actuarial loss/(gain) - current year | $ | (741) | $ | 1,027 | $ | (1,049) | $ | (207) | |||||||||||||||||||||||||||
Prior service cost/(credit) - current year | 34 | 3 | — | (136) | |||||||||||||||||||||||||||||||
Amortization of net actuarial loss | (423) | (340) | (47) | (68) | |||||||||||||||||||||||||||||||
Amortization of prior service (cost)/credit | (25) | (25) | 60 | 48 | |||||||||||||||||||||||||||||||
Amortization of net actuarial loss/prior service costs due to settlements | (5) | (7) | — | — | |||||||||||||||||||||||||||||||
Currency translation and other | 367 | (74) | — | (26) | |||||||||||||||||||||||||||||||
TOTAL CHANGE IN AOCI | (793) | 584 | (1,036) | (389) | |||||||||||||||||||||||||||||||
NET AMOUNTS RECOGNIZED IN PERIODIC BENEFIT COST AND AOCI | $ | (591) | $ | 750 | $ | (1,355) | $ | (599) |
Pension Benefits | Other Retiree Benefits | ||||||||||||||||||||||
As of June 30 | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||
Discount rate | 1.7 | % | 1.5 | % | 3.2 | % | 3.1 | % | |||||||||||||||
Rate of compensation increase | 2.7 | % | 2.5 | % | N/A | N/A | |||||||||||||||||
Interest crediting rate for cash balance plans | 4.4 | % | 4.4 | % | N/A | N/A | |||||||||||||||||
Health care cost trend rates assumed for next year | N/A | N/A | 6.4 | % | 6.6 | % | |||||||||||||||||
Rate to which the health care cost trend rate is assumed to decline (ultimate trend rate) | N/A | N/A | 4.5 | % | 4.9 | % | |||||||||||||||||
Year that the rate reaches the ultimate trend rate | N/A | N/A | 2028 | 2026 |
Pension Benefits | Other Retiree Benefits | ||||||||||||||||||||||||||||||||||
Years ended June 30 | 2021 | 2020 | 2019 | 2021 | 2020 | 2019 | |||||||||||||||||||||||||||||
Discount rate | 1.5 | % | 1.9 | % | 2.5 | % | 3.1 | % | 3.7 | % | 4.2 | % | |||||||||||||||||||||||
Expected return on plan assets | 6.5 | % | 6.6 | % | 6.6 | % | 8.4 | % | 8.4 | % | 8.3 | % | |||||||||||||||||||||||
Rate of compensation increase | 2.5 | % | 2.6 | % | 2.6 | % | N/A | N/A | N/A | ||||||||||||||||||||||||||
Interest crediting rate for cash balance plans | 4.4 | % | 4.4 | % | 4.8 | % | N/A | N/A | N/A |
Target Asset Allocation | Actual Asset Allocation at June 30 | ||||||||||||||||||||||||||||||||||
Pension Benefits |
Other Retiree
Benefits |
Pension Benefits | Other Retiree Benefits | ||||||||||||||||||||||||||||||||
Asset Category | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||||
Cash | — | % | 2 | % | 1 | % | 1 | % | 2 | % | 3 | % | |||||||||||||||||||||||
Debt securities | 61 | % | 3 | % | 59 | % | 66 | % | 2 | % | 2 | % | |||||||||||||||||||||||
Equity securities | 39 | % | 95 | % | 40 | % | 33 | % | 96 | % | 95 | % | |||||||||||||||||||||||
TOTAL | 100 | % | 100 | % | 100 | % | 100 | % | 100 | % | 100 | % |
Pension Benefits | Other Retiree Benefits | ||||||||||||||||||||||||||||||||||
As of June 30 | Fair Value Hierarchy Level | 2021 | 2020 | Fair Value Hierarchy Level | 2021 | 2020 | |||||||||||||||||||||||||||||
ASSETS AT FAIR VALUE | |||||||||||||||||||||||||||||||||||
Cash and cash equivalents | 1 | $ | 82 | $ | 61 | 1 | $ | 131 | $ | 121 | |||||||||||||||||||||||||
Company common stock | — | — | 1 | 275 | 217 | ||||||||||||||||||||||||||||||
Company preferred stock (1)
|
— | — | 2 | 5,911 | 5,139 | ||||||||||||||||||||||||||||||
Fixed income securities (2)
|
2 | 1,931 | 1,991 | 2 | 3 | 12 | |||||||||||||||||||||||||||||
Insurance contracts (3)
|
3 | 111 | 115 | — | — | ||||||||||||||||||||||||||||||
TOTAL ASSETS IN THE FAIR VALUE HIERARCHY | 2,124 | 2,167 | 6,320 | 5,489 | |||||||||||||||||||||||||||||||
Investments valued at net asset value (4)
|
10,917 | 9,317 | 124 | 129 | |||||||||||||||||||||||||||||||
TOTAL ASSETS AT FAIR VALUE | $ | 13,041 | 11,484 | $ | 6,444 | 5,618 |
Years ending June 30 |
Pension
Benefits |
Other Retiree
Benefits |
|||||||||
EXPECTED BENEFIT PAYMENTS | |||||||||||
2022 | $ | 605 | $ | 190 | |||||||
2023 | 586 | 199 | |||||||||
2024 | 615 | 205 | |||||||||
2025 | 644 | 209 | |||||||||
2026 | 639 | 214 | |||||||||
2027 - 2031 | 3,639 | 1,130 |
Shares in thousands | 2021 | 2020 | 2019 | ||||||||||||||
Allocated | 27,759 | 29,591 | 31,600 | ||||||||||||||
Unallocated | 1,769 | 2,479 | 3,259 | ||||||||||||||
TOTAL SERIES A | 29,528 | 32,070 | 34,859 | ||||||||||||||
Allocated | 29,203 | 27,894 | 26,790 | ||||||||||||||
Unallocated | 22,349 | 24,418 | 26,471 | ||||||||||||||
TOTAL SERIES B | 51,552 | 52,312 | 53,261 |
Amount of Gain/(Loss) Recognized in OCI on Derivatives | |||||||||||
Years ended June 30 | 2021 | 2020 | |||||||||
DERIVATIVES IN NET INVESTMENT HEDGING RELATIONSHIPS (1) (2)
|
|||||||||||
Foreign currency interest rate contracts | $ | (232) | $ | 66 |
Amount of Gain/(Loss) Recognized in Earnings | |||||||||||
Years ended June 30 | 2021 | 2020 | |||||||||
DERIVATIVES IN FAIR VALUE HEDGING RELATIONSHIPS | |||||||||||
Interest rate contracts | $ | (123) | $ | 93 | |||||||
DERIVATIVES NOT DESIGNATED AS HEDGING INSTRUMENTS | |||||||||||
Foreign currency contracts | $ | 296 | $ | (83) |
As of June 30 | 2021 | 2020 | |||||||||
DEBT DUE WITHIN ONE YEAR | |||||||||||
Current portion of long-term debt | $ | 3,620 | $ | 2,508 | |||||||
Commercial paper | 5,171 | 8,545 | |||||||||
Other | 98 | 130 | |||||||||
TOTAL | $ | 8,889 | $ | 11,183 | |||||||
Short-term weighted average interest rates (1)
|
0.2 | % | 0.7 | % |
As of June 30 | 2021 | 2020 | |||||||||
LONG-TERM DEBT | |||||||||||
1.70% USD note due November 2021 | 875 | 875 | |||||||||
2.00% EUR note due November 2021 | 893 | 843 | |||||||||
2.30% USD note due February 2022 | 1,000 | 1,000 | |||||||||
2.15% USD note due August 2022 | 1,250 | 1,250 | |||||||||
2.00% EUR note due August 2022 | 1,190 | 1,124 | |||||||||
3.10% USD note due August 2023 | 1,000 | 1,000 | |||||||||
1.13% EUR note due November 2023 | 1,488 | 1,405 | |||||||||
0.50% EUR note due October 2024 | 595 | 562 | |||||||||
0.63% EUR note due October 2024 | 952 | 899 | |||||||||
1.38% GBP note due May 2025 | 519 | 461 | |||||||||
0.55% USD note due October 2025 | 1,000 | — | |||||||||
2.70% USD note due February 2026 | 600 | 600 | |||||||||
1.00% USD note due April 2026 | 1,000 | — | |||||||||
2.45% USD note due November 2026 | 875 | 875 | |||||||||
2.80% USD note due March 2027 | 500 | 500 | |||||||||
4.88% EUR note due May 2027 | 1,190 | 1,124 | |||||||||
2.85% USD note due August 2027 | 750 | 750 | |||||||||
1.20% EUR note due October 2028 | 952 | 899 | |||||||||
1.80% GBP note due May 2029 | 519 | 461 | |||||||||
1.25% EUR note due October 2029 | 595 | 562 | |||||||||
3.00% USD note due March 2030 | 1,500 | 1,500 | |||||||||
1.20% USD note due October 2030 | 1,250 | — | |||||||||
1.95% USD note due April 2031 | 1,000 | — | |||||||||
5.55% USD note due March 2037 | 716 | 763 | |||||||||
1.88% EUR note due October 2038 | 595 | 562 | |||||||||
3.55% USD note due March 2040 | 516 | 1,000 | |||||||||
All other long-term debt | 3,399 | 7,030 | |||||||||
Current portion of long-term debt | (3,620) | (2,508) | |||||||||
TOTAL | $ | 23,099 | $ | 23,537 | |||||||
Long-term weighted average interest rates (1)
|
2.0% | 2.3% |
Years ending June 30 | 2022 | 2023 | 2024 | 2025 | 2026 | ||||||||||||
Debt maturities | $3,620 | $2,470 | $2,537 | $2,136 | $2,721 |
Changes in Accumulated Other Comprehensive Income/(Loss) by Component | |||||||||||||||||||||||
Investment Securities | Post-retirement Benefits | Foreign Currency Translation | Total AOCI | ||||||||||||||||||||
BALANCE at JUNE 30, 2019 | $ | 11 | $ | (4,198) | $ | (10,749) | $ | (14,936) | |||||||||||||||
OCI before reclassifications (1)
|
(10) | (453) | (1,083) | (1,546) | |||||||||||||||||||
Amounts reclassified from AOCI into the Consolidated Statement of Earnings (2)
|
(2) | 303 | — | 301 | |||||||||||||||||||
Net current period OCI | (12) | (150) | (1,083) | (1,245) | |||||||||||||||||||
Less: Other comprehensive income/(loss) attributable to non-controlling interests | — | 2 | (18) | (16) | |||||||||||||||||||
BALANCE at JUNE 30, 2020 | (1) | (4,350) | (11,814) | (16,165) | |||||||||||||||||||
OCI before reclassifications (3)
|
20 | 1,046 | 1,023 | 2,089 | |||||||||||||||||||
Amounts reclassified from AOCI into the Consolidated Statement of Earnings (4)
|
(4) | 340 | — | 336 | |||||||||||||||||||
Net current period OCI | 16 | 1,386 | 1,023 | 2,425 | |||||||||||||||||||
Less: Other comprehensive income/(loss) attributable to non-controlling interests | — | (1) | 5 | 4 | |||||||||||||||||||
BALANCE at JUNE 30, 2021 | $ | 15 | $ | (2,963) | $ | (10,796) | $ | (13,744) |
Years ended June 30 | 2021 | 2020 | |||||||||
Operating lease cost | 245 | 271 | |||||||||
Variable lease cost (1)
|
75 | 76 | |||||||||
Total lease cost | $ | 320 | $ | 347 |
As of June 30 | 2021 | 2020 | |||||||||
Operating leases: | |||||||||||
Other noncurrent assets | $ | 808 | $ | 850 | |||||||
Accrued and other liabilities | 219 | 239 | |||||||||
Other noncurrent liabilities | 631 | 652 | |||||||||
Total operating lease liabilities | $ | 850 | $ | 891 | |||||||
Weighted average remaining lease term: | |||||||||||
Operating leases | 6.4 years | 6.5 years | |||||||||
Weighted average discount rate: | |||||||||||
Operating leases | 3.8 | % | 4.3 | % |
Operating Leases | |||||
June 30, 2021 | |||||
1 year | $ | 219 | |||
2 years | 192 | ||||
3 years | 157 | ||||
4 years | 106 | ||||
5 years | 69 | ||||
Over 5 years | 210 | ||||
Total lease payments | 953 | ||||
Less: Interest | (103) | ||||
Present value of lease liabilities | $ | 850 |
Years ending June 30 | 2022 | 2023 | 2024 | 2025 | 2026 | There-after | ||||||||||||||
Purchase obligations | $ | 809 | $ | 381 | $ | 218 | $ | 151 | $ | 108 | $ | 315 |
Plan Category |
(a)
Number of securities to be issued upon exercise of outstanding options, warrants and rights |
(b)
Weighted average exercise price of outstanding options, warrants and rights |
(c)
Number of securities remaining available for future issuance under equity compensation plans (excluding securities reflected in column (a)) |
||||||||||||||
Equity compensation plans approved by security holders | |||||||||||||||||
Stock Options/Stock Appreciation Rights | 138,297,815 | $91.2043 |
(1)
|
||||||||||||||
Restricted Stock Units (RSUs)/Performance Stock Units (PSUs) | 7,202,433 | N/A |
(1)
|
||||||||||||||
TOTAL | 145,500,248 | $91.2043 |
(2)
|
Exhibit (3-1) - |
Amended Articles of Incorporation (as amended by shareholders at the annual meeting on October 11, 2011 and consolidated by the Board of Directors on April 8, 2016) (Incorporated by reference to Exhibit (3-1) of the Company's Annual Report on Form 10-K for the year ended June 30, 2016).
|
|||||||
(3-2) - |
Regulations (as approved by the Board of Directors on April 8, 2016, pursuant to authority granted by shareholders at the annual meeting on October 13, 2009) (Incorporated by reference to Exhibit (3-2) of the Company's Annual Report on Form 10-K for the year ended June 30, 2016).
|
|||||||
Exhibit (4-1) - |
Indenture, dated as of September 3, 2009, between the Company and Deutsche Bank Trust Company Americas, as Trustee (Incorporated by reference to Exhibit (4-1) of the Company's Annual Report on Form 10-K for the year ended June 30, 2015).
|
|||||||
(4-2) - |
The Company agrees to furnish to the Securities and Exchange Commission, upon request, a copy of any other instrument defining the rights of holders of the Company’s long-term debt.
|
|||||||
(4-3) - |
Description of the Company’s Common Stock (Incorporated by reference to Exhibit (4-3) of the Company’s Annual report on Form 10-K for the year ended June 30, 2019).
|
|||||||
(4-4) - |
Description of the Company’s 0.625% Notes due 2024, 1.200% Notes due 2028, and 1.875% Notes due 2038 (Incorporated by reference to Exhibit (4-4) of the Company’s Annual report on Form 10-K for the year ended June 30, 2019).
|
|||||||
(4-5) - |
Description of the Company’s 4.875% EUR notes due May 2027, 6.250% GBP notes due January 2030, and 5.250% GBP notes due January 2033.+
|
|||||||
(4-6) - |
Description of the Company’s 0.500% Notes due 2024 and 1.250% Notes due 2029 (Incorporated by reference to Exhibit (4-6) of the Company’s Annual report on Form 10-K for the year ended June 30, 2019).
|
|||||||
(4-7) - |
Description of the Company’s 1.375% Notes due 2025 and 1.800% Notes due 2029 (Incorporated by reference to Exhibit (4-7) of the Company’s Annual report on Form 10-K for the year ended June 30, 2019).
|
|||||||
(4-8) - |
Description of the Company’s 1.125% Notes due 2023 (Incorporated by reference to Exhibit (4-8) of the Company’s Annual report on Form 10-K for the year ended June 30, 2019).
|
|||||||
(4-9) - |
Description of the Company’s 2.000% Notes due 2021 (Incorporated by reference to Exhibit (4-10) of the Company’s Annual report on Form 10-K for the year ended June 30, 2019).
|
|||||||
(4-10) - |
Description of the Company’s 2.000% Notes due 2022 (Incorporated by reference to Exhibit (4-11) of the Company’s Annual report on Form 10-K for the year ended June 30, 2019).
|
|||||||
Exhibit (10-1) - |
The Procter & Gamble 2001 Stock and Incentive Compensation Plan (as amended), which was originally adopted by shareholders at the annual meeting on October 9, 2001 (Incorporated by reference to Exhibit (10-1) of the Company’s Annual Report on Form 10-K for the year ended June 30, 2018).*
|
|||||||
(10-2) - |
The Procter & Gamble 2001 Stock and Incentive Compensation Plan related correspondence and terms and conditions (Incorporated by reference to Exhibit (10-1) of the Company's Form 10-Q for the quarter ended December 31, 2013).*
|
|||||||
(10-3) - |
The Procter & Gamble 1992 Stock Plan (as amended December 11, 2001), which was originally adopted by the shareholders at the annual meeting on October 12, 1992 (Incorporated by reference to Exhibit (10-2) of the Company’s Annual Report on Form 10-K for the year ended June 30, 2018).*
|
|||||||
(10-4) - |
The Procter & Gamble Executive Group Life Insurance Policy (Incorporated by reference to Exhibit (10-3) of the Company’s Annual Report on Form 10-K for the year ended June 30, 2018).*
|
|||||||
(10-5) - |
Summary of the Company’s Retirement Plan Restoration Program (Incorporated by reference to Exhibit (10-5) of the Company's Form 10-Q for the quarter ended December 31, 2019).*
|
|||||||
(10-6) - |
Retirement Plan Restoration Program related correspondence and terms and conditions (Incorporated by reference to Exhibit (10-8) of the Company's Form 10-Q for the quarter ended September 30, 2015).*
|
|||||||
(10-7) - |
Summary of the Company’s Long-Term Incentive Program (Incorporated by reference to Exhibit (10-3) of the Company's Form 10-Q for the quarter ended September 30, 2020).*
|
|||||||
(10-8) - |
Long-Term Incentive Program related correspondence and terms and conditions.*+
|
|||||||
(10-9) - |
The Procter & Gamble Company Executive Deferred Compensation Plan (Incorporated by reference to Exhibit (10-2) of the Company's Form 10-Q for the quarter ended March 31, 2020).*
|
|||||||
(10-10) - |
Summary of the Company's Short Term Achievement Reward Program (Incorporated by reference to Exhibit (10-1) of the Company’s Form 10-Q for the quarter ended September 30, 2020).*
|
|||||||
(10-11) - |
Short Term Achievement Reward Program – related correspondence and terms and conditions.*+
|
|||||||
(10-12) - |
Company's Forms of Separation Agreement & Release (Incorporated by reference to Exhibit (10-2) of the Company's Form 10-Q for the quarter ended March 31, 2021)*
|
|||||||
(10-13) - |
Company's Form of Separation Letter and Release (Incorporated by reference to Exhibit (10-1) of the Company's Form 10-Q for the quarter ended March 31, 2021).*
|
|||||||
(10-14) - |
Summary of personal benefits available to certain officers and non-employee directors (Incorporated by reference to Exhibit (10-3) of the Company's Form 10-Q for the quarter ended September 30, 2018).*
|
|||||||
(10-15) - |
The Gillette Company Deferred Compensation Plan (Incorporated by reference to Exhibit (10-18) of the Company’s Annual Report on Form 10-K for the year ended June 30, 2017).*
|
|||||||
(10-16) - |
Senior Executive Recoupment Policy (Incorporated by reference to Exhibit (10-19) of the Company’s Annual Report on Form 10-K for the year ended June 30, 2018).*
|
|||||||
(10-17) - |
The Gillette Company Deferred Compensation Plan (for salary deferrals prior to January 1, 2005) as amended through August 21, 2006 (Incorporated by reference to Exhibit (10-20) of the Company's Annual Report on Form 10-K for the year ended June 30, 2017).*
|
|||||||
(10-18) - |
The Procter & Gamble 2009 Stock and Incentive Compensation Plan, which was originally adopted by shareholders at the annual meeting on October 13, 2009 (Incorporated by reference to Exhibit (10-21) of the Company's Annual Report on Form 10-K for the year ended June 30, 2017).*
|
|||||||
(10-19) - |
Regulations of the Compensation and Leadership Development Committee for The Procter & Gamble 2009 Stock and Incentive Compensation Plan, The Procter & Gamble 2001 Stock and Incentive Compensation Plan, The Procter & Gamble 1992 Stock Plan, The Procter & Gamble 1992 Stock Plan (Belgium Version), The Gillette Company 2004 Long-Term Incentive Plan and the Gillette Company 1971 Stock Option Plan (Incorporated by reference to Exhibit (10-21) of the Company’s Annual Report on Form 10-K for the year ended June 30, 2018).*
|
|||||||
(10-20) - |
The Procter & Gamble 2009 Stock and Incentive Compensation Plan - Additional terms and conditions and related correspondence (Incorporated by reference to Exhibit (10-2) of the Company Form 10-Q for the quarter ended December 31, 2013).*
|
|||||||
(10-21) - |
The Procter & Gamble Performance Stock Program Summary (Incorporated by reference to Exhibit (10-5) of the Company's Form 10-Q for the quarter ended September 30, 2020).*
|
|||||||
(10-22) - | Performance Stock Program related correspondence and terms and conditions.*+ | |||||||
(10-23) - | The Procter & Gamble 2013 Non-Employee Directors' Stock Plan (Incorporated by reference to Exhibit (10-3) of the Company's Form 10-Q for the quarter ended December 31, 2013). * | |||||||
(10-24) - | The Procter & Gamble 2014 Stock and Incentive Compensation Plan, which was originally adopted by shareholders at the annual meeting on October 14, 2014 (Incorporated by reference to Exhibit (10-25) of the Company's Annual Report on Form 10-K for the year ended June 30, 2016).* | |||||||
(10-25) - | Regulations of the Compensation and Leadership Development Committee for The Procter & Gamble 2019 Stock and Incentive Compensation Plan and The Procter & Gamble 2014 Stock and Incentive Compensation Plan (Incorporated by reference to Exhibit (10-1) of the Company's Form 10-Q for the quarter ended December 31, 2019). * | |||||||
(10-26) - | The Procter & Gamble 2014 Stock and Incentive Compensation Plan - Additional terms and conditions (Incorporated by reference to Exhibit (10-26) of the Company's Annual Report on Form 10-K for the year ended June 30, 2017).* | |||||||
(10-27) - | The Procter & Gamble 2019 Stock and Incentive Compensation Plan, which was originally adopted by shareholders at the annual meeting on October 8, 2019 (Incorporated by reference to Exhibit (10-1) of the Company’s Current Report on Form 8-K filed October 11, 2019).* | |||||||
(10-28) - | The Procter & Gamble 2019 Stock and Incentive Compensation Plan - Additional terms and conditions.* + | |||||||
Exhibit (21) - | Subsidiaries of the Registrant. + | |||||||
Exhibit (23) - | Consent of Independent Registered Public Accounting Firm. + | |||||||
Exhibit (31) - | Rule 13a-14(a)/15d-14(a) Certifications. + | |||||||
Exhibit (32) - | Section 1350 Certifications. + | |||||||
Exhibit (99-1) - | Summary of Directors and Officers Insurance Program. + | |||||||
101.INS (1) | Inline XBRL Instance Document | |||||||
101.SCH (1) | Inline XBRL Taxonomy Extension Schema Document | |||||||
101.CAL (1) | Inline XBRL Taxonomy Extension Calculation Linkbase Document | |||||||
101.DEF (1) | Inline XBRL Taxonomy Definition Linkbase Document | |||||||
101.LAB (1) | Inline XBRL Taxonomy Extension Label Linkbase Document | |||||||
101.PRE (1) | Inline XBRL Taxonomy Extension Presentation Linkbase Document | |||||||
104 | Cover Page Interactive Data File (formatted in Inline XBRL and contained in Exhibit 101) | |||||||
(1) | Pursuant to Rule 406T of Regulation S-T, these interactive data files are deemed not filed or part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933 or Section 18 of the Securities Exchange Act of 1934 and otherwise are not subject to liability. | |||||||
* | Compensatory plan or arrangement. | |||||||
+ | Filed herewith. |
THE PROCTER & GAMBLE COMPANY | ||||||||
By | /s/ DAVID S. TAYLOR | |||||||
(David S. Taylor)
Chairman of the Board, President and Chief Executive Officer |
||||||||
August 06, 2021 |
Signature | Title | Date | ||||||||||||
/s/ DAVID S. TAYLOR
(David S. Taylor)
|
Chairman of the Board, President and Chief Executive Officer (Principal Executive Officer) | August 06, 2021 | ||||||||||||
/s/ ANDRE SCHULTEN
(Andre Schulten)
|
Chief Financial Officer
(Principal Financial Officer) |
August 06, 2021 | ||||||||||||
/s/ MICHAEL G. HOMAN
(Michael G. Homan)
|
Senior Vice President - Chief Accounting Officer
(Principal Accounting Officer) |
August 06, 2021 | ||||||||||||
/s/ B. MARC ALLEN
(B. Marc Allen)
|
Director | August 06, 2021 | ||||||||||||
/s/ FRANCIS S. BLAKE
(Francis S. Blake)
|
Director | August 06, 2021 | ||||||||||||
/s/ ANGELA F. BRALY
(Angela F. Braly)
|
Director | August 06, 2021 | ||||||||||||
/s/ AMY L. CHANG
(Amy L. Chang)
|
Director | August 06, 2021 | ||||||||||||
/s/ JOSEPH JIMENEZ
(Joseph Jimenez)
|
Director | August 06, 2021 | ||||||||||||
/s/ DEBRA L. LEE
(Debra L. Lee)
|
Director | August 06, 2021 | ||||||||||||
/s/ TERRY J. LUNDGREN
(Terry J. Lundgren)
|
Director | August 06, 2021 | ||||||||||||
/s/ CHRISTINE M. MCCARTHY
(Christine M. McCarthy)
|
Director | August 06, 2021 | ||||||||||||
/s/ W. JAMES MCNERNEY, JR.
(W. James McNerney, Jr.)
|
Director | August 06, 2021 | ||||||||||||
/s/ JON R. MOELLER
(Jon R. Moeller)
|
Director | August 06, 2021 | ||||||||||||
/s/ NELSON PELTZ
(Nelson Peltz)
|
Director | August 06, 2021 | ||||||||||||
/s/ MARGARET C. WHITMAN
(Margaret C. Whitman)
|
Director | August 06, 2021 | ||||||||||||
/s/ PATRICIA A. WOERTZ
(Patricia A. Woertz)
|
Director | August 06, 2021 |
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101.INS (1) | Inline XBRL Instance Document | |||||||
101.SCH (1) | Inline XBRL Taxonomy Extension Schema Document | |||||||
101.CAL (1) | Inline XBRL Taxonomy Extension Calculation Linkbase Document | |||||||
101.DEF (1) | Inline XBRL Taxonomy Definition Linkbase Document | |||||||
101.LAB (1) | Inline XBRL Taxonomy Extension Label Linkbase Document | |||||||
101.PRE (1) | Inline XBRL Taxonomy Extension Presentation Linkbase Document | |||||||
104 | Cover Page Interactive Data File (formatted in Inline XBRL and contained in Exhibit 101) | |||||||
(1) | Pursuant to Rule 406T of Regulation S-T, these interactive data files are deemed not filed or part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933 or Section 18 of the Securities Exchange Act of 1934 and otherwise are not subject to liability. | |||||||
+ | Filed herewith. |
Top of Form
|
You must scroll and read to the bottom of the grant letter above so you can accept/reject your grant.
|
|||||||||||
AWARD AGREEMENT | [DATE] | ||||||||||
NAME | GLOBAL ID |
Option Price per Share: | $ | ||||
Number of Shares: | |||||
Grant Date: | [DATE] | ||||
Expiration Date: | [DATE] | ||||
Vest Date: | 100% on [DATE] | ||||
Acceptance Deadline: | [DATE] |
THE PROCTER & GAMBLE COMPANY | ||
Tracey Grabowski | ||
Chief Human Resources Officer |
To Accept Your Award | To Reject Your Award | ||||||||||
Read and check the boxes below: | Read and check the box(es) below: | ||||||||||
|
I have read, understand and agree to be bound by each of: | ||||||||||
•The Procter & Gamble 2019 Stock and Incentive Compensation Plan
•Regulations of the Committee
•This Award Agreement, including Attachment A
|
I have read and understand the terms noted above and do not agree to be bound by these terms. I hereby reject the stock option award detailed above. | ||||||||||
|
I accept the stock option award detailed above (including attachments) | ||||||||||
Bottom of Form |
AWARD AGREEMENT [DATE] | |||||
NAME | GLOBAL ID |
Number of Restricted Stock Units: | |||||
Grant Date: | [DATE] | ||||
Stock Price on Grant Date: | $ | ||||
Vest Date: | [DATE] | ||||
Settlement Date (Shares Delivered on): | [DATE] | ||||
Acceptance Deadline: | [DATE] |
THE PROCTER & GAMBLE COMPANY | ||
Tracey Grabowski | ||
Chief Human Resources Officer |
Attachment(s): | ||||||||||||||
Attachment A
|
||||||||||||||
To Accept Your Award
|
To Reject Your Award | |||||||||||||
Read and check the boxes below: | Read and check the box(es) below: | |||||||||||||
|
I have read, understand and agree to be bound by each of: | |||||||||||||
•The Procter & Gamble 2019 Stock and Incentive Compensation Plan
•Regulations of the Committee
•This Award Agreement, including Attachment A
|
I have read and understand the terms noted above and do not agree to be bound by these terms. I hereby reject the restricted stock unit award detailed above. | |||||||||||||
|
I accept the restricted stock unit award detailed above (including attachments) | |||||||||||||
Target Number of Units: | |||||
Maximum Number of Units: | |||||
Conversion Ratio: | 1 PSU = 1 Common Share | ||||
Grant Date: | [GRANT DATE] | ||||
Vest Date: | 30 June 20XX | ||||
Performance Period: | 1 July 20XX - 30 June 20XX | ||||
Original Settlement Date (Shares Delivered on): | [SETTLEMENT DATE] | ||||
Acceptance Deadline: | [ACCEPTANCE DATE] |
THE PROCTER & GAMBLE COMPANY | ||
Tracey Grabowski | ||
Chief Human Resources Officer |
Attachment(s): | ||
Attachment A
|
||
To Accept Your Award | To Reject Your Award | ||||||||||
Read and check the boxes below: | Read and check the box(es) below: | ||||||||||
□ | I have read, understand and agree to be bound by each of: | ||||||||||
•The Procter & Gamble 2019 Stock and Incentive Compensation Plan
•Regulations of the Committee
•This Award Agreement, including Attachments A and B
|
□ I have read and understand the terms noted above and do not agree to be bound by these terms. I hereby reject the stock option award detailed above.
□ I have read and understand the terms noted above and do not agree to be bound by these terms. I hereby reject the restricted stock unit award detailed above.
□ I have read and understand the terms noted above and do not agree to be bound by these terms. I hereby reject the performance share award detailed above.
|
||||||||||
□ | I accept the stock option award detailed above (including attachments) | ||||||||||
□ | I accept the restricted stock unit award detailed above (including attachments) | ||||||||||
□ | I accept the performance share award detailed above (including attachments) |
<NAME> | <DATE> |
Number of Restricted Stock Units: | [# SHARES] | |||||||
Grant Date: | [GRANT_DATE] | |||||||
Vest Date: |
[DATE (Day Before Next Annual Meeting Following Grant)]
|
|||||||
Original Settlement Date: | One Year Following Termination of Directorship |
THE PROCTER & GAMBLE COMPANY | |||||
Tracey Grabowski | |||||
Chief Human Resources Officer |
<NAME> |
Grant Date: | <GRANT DATE> | |||||||
Stock Price on Grant Date: | <GRANT PRICE> | |||||||
Number of Restricted Stock Units: | <SHARES1> | |||||||
Vest Date: | <VEST DATE 1> | |||||||
Settlement Date: | See Payment and Vesting Details Below | |||||||
Number of Restricted Stock Units: | <SHARES2> | |||||||
Vest Date: | <VEST DATE 2> | |||||||
Settlement Date: | See Payment and Vesting Details Below | |||||||
Total Number of Restricted Stock Units: <TOTAL SHARES> |
1. |
Termination on Account of Death or Disability. In the case of death or disability, the Award will be fully vested and payment will be made by the later of the end of the calendar year or two and a half months following the date of death or disability.
|
2. |
Termination without Cause Pursuant to a Written Separation Agreement. In the event of your Termination of Employment from the Company or a Subsidiary without Cause, your Award is forfeited unless the Chief Human Resources Officer authorizes the retention of the Award and you have executed a written separation agreement with the Company that provides for retention of the Award. If the Award is retained pursuant to CHRO authorization, the Award will be delivered on the Vest Date(s) as long as you remain in compliance with the terms of the Plan, the Regulations, and your separation agreement.
|
3. |
Vesting for Board-Designated Section 16 Officers. Payment will be on the Vest Date(s) except when the Vest Date(s) is outside of an open trading window as designated by the Company in accordance with the Company’s Insider Trading Policy and the Section 16 Officer does not have a valid 10b5-1 plan in place instructing the sale of Common Stock to cover taxes and administrative costs, in which case payment will be made on the first day of the first such open trading window following the Vest Date(s).
|
THE PROCTER & GAMBLE COMPANY | |||||
Tracey Grabowski | |||||
Chief Human Resources Officer |
SUBSIDIARIES OF THE PROCTER & GAMBLE COMPANY | Jurisdiction | ||||
1837, LLC | Ohio | ||||
Agile Pursuits Franchising, Inc. | Ohio | ||||
Agile Pursuits, Inc. | Ohio | ||||
Arbora & Ausonia, S.L.U. | Spain | ||||
Braun (Shanghai) Co., Ltd. | China | ||||
Braun GmbH | Germany | ||||
Celtic Insurance Company, Inc. | Vermont | ||||
Charlie Banana (USA), LLC | Delaware | ||||
Corporativo Procter & Gamble, S. de R.L. de C.V. | Mexico | ||||
Detergent Products B.V. | Netherlands | ||||
Detergent Products Sarl | Switzerland | ||||
Detergenti S.A. | Romania | ||||
Fameccanica Data S.p.A. | Italy | ||||
Fameccanica Indùstria e Comèrcio Do Brasil LTDA. | Brazil | ||||
Fameccanica Machinery (Shanghai) Co., Ltd. | China | ||||
Fameccanica North America, Inc. | Delaware | ||||
Fater Central Europe SRL | Romania | ||||
Fater Eastern Europe LLC | Russia | ||||
Fater Portugal Unipessoal Lda | Portugal | ||||
Fater S.p.A. | Italy | ||||
Fater Temizlik Urunleri Ltd STI | Turkey | ||||
First Aid Beauty Limited | Delaware | ||||
Fountain Square Music Publishing Co., Inc. | Ohio | ||||
FPG Oleochemicals Sdn. Bhd. | Malaysia | ||||
Gillette (China) Limited | China | ||||
Gillette (Shanghai) Ltd. | China | ||||
Gillette Australia Pty. Ltd. | Australia | ||||
Gillette Commercial Operations North America | Massachusetts | ||||
Gillette del Uruguay, S.A. | Uruguay | ||||
Gillette Diversified Operations Pvt. Ltd. | India | ||||
Gillette Egypt S.A.E. | Egypt | ||||
Gillette Group UK Ltd | U.K. | ||||
Gillette Holding Company LLC | Delaware | ||||
Gillette Holding GmbH | Germany | ||||
Gillette India Limited | India | ||||
Gillette Industries Ltd. | U.K. | ||||
Gillette International B.V. | Netherlands | ||||
Gillette Latin America Holding B.V. | Netherlands | ||||
Gillette Management, LLC | Delaware | ||||
Gillette Pakistan Limited | Pakistan | ||||
Gillette Poland International Sp. z.o.o. | Poland | ||||
Gillette U.K. Limited | U.K. | ||||
Hyginett KFT | Hungary | ||||
iMFLUX Inc. | Delaware | ||||
Industries Marocaines Modernes SA | Morocco | ||||
Inversiones Plaza LLC | Delaware | ||||
Laboratoire Mediflor S.A.S. | France | ||||
Laboratorios Vicks, S.L.U. | Spain | ||||
Lamberts Healthcare Ltd. | U.K. |
Liberty Street Music Publishing Company, Inc. | Ohio | ||||
Limited Liability Company 'Procter & Gamble Trading Ukraine' | Ukraine | ||||
LLC "Procter & Gamble - Novomoskovsk" | Russia | ||||
LLC "Procter & Gamble Distributorskaya Compania" | Russia | ||||
LLC “Procter & and Gamble Ukraine” | Ukraine | ||||
Marcvenca Inversiones, C.A. | Venezuela | ||||
Modern Industries Company - Dammam | Saudi Arabia | ||||
Modern Products Company - Jeddah | Saudi Arabia | ||||
Nature's Best Health Products Ltd. | U.K. | ||||
New Chapter Canada Inc. | Canada | ||||
New Chapter, Inc. | Delaware | ||||
Olay LLC | Puerto Rico | ||||
Oral-B Laboratories | Delaware | ||||
P&G Consumer Health Germany GmbH | Germany | ||||
P&G Distribution East Africa Limited | Kenya | ||||
P&G Distribution Morocco SAS | Morocco | ||||
P&G Hair Care Holding, Inc. | Delaware | ||||
P&G Health Austria GmbH & Co. OG | Austria | ||||
P&G Health France S.A.S. | France | ||||
P&G Health Germany GmbH | Germany | ||||
P&G Healthcare (Zhejiang) Limited | China | ||||
P&G Industrial Peru S.R.L. | Peru | ||||
P&G Innovation Godo Kaisha | Japan | ||||
P&G Investment Management Ltd. | United Arab Emirates | ||||
P&G Israel M.D.O. Ltd. | Israel | ||||
P&G Japan G.K. | Japan | ||||
P&G K.K. | Japan | ||||
P&G Northeast Asia Pte. Ltd. | Singapore | ||||
P&G Prestige Godo Kaisha | Japan | ||||
P&G South African Trading (Pty.) Ltd. | South Africa | ||||
"Petersburg Products International" LLC | Russia | ||||
PG13 Launchpad Alpha, Inc. | Delaware | ||||
PG13 Launchpad Beta, Inc. | Delaware | ||||
PG13 Launchpad Gamma, Inc. | Delaware | ||||
PGT Healthcare LLP | Delaware | ||||
Phase II Holdings Corporation | Philippines | ||||
Procter & Gamble (Chengdu) Ltd. | China | ||||
Procter & Gamble (China) Ltd. | China | ||||
Procter & Gamble (China) Sales Co., Ltd. | China | ||||
Procter & Gamble (Egypt) Manufacturing Company | Egypt | ||||
Procter & Gamble (Guangzhou) Consumer Products Co., Ltd. | China | ||||
Procter & Gamble (Guangzhou) Enterprise Management Service Company Limited | China | ||||
Procter & Gamble (Guangzhou) Ltd. | China | ||||
Procter & Gamble (Guangzhou) Technology Innovation Co., LTD. | China | ||||
Procter & Gamble (Health & Beauty Care) Limited | U.K. | ||||
Procter & Gamble (Jiangsu) Ltd. | China | ||||
Procter & Gamble (L&CP) Limited | U.K. | ||||
Procter & Gamble (Malaysia) Sdn Bhd | Malaysia | ||||
Procter & Gamble (Manufacturing) Ireland Limited | Ireland | ||||
Procter & Gamble (Singapore) Pte. Ltd. | Singapore | ||||
Procter & Gamble Algeria EURL | Algeria | ||||
Procter & Gamble Amazon Holding B.V. | Netherlands | ||||
Procter & Gamble Amiens S.A.S. | France | ||||
Procter & Gamble Argentina SRL | Argentina | ||||
Procter & Gamble Asia Pte. Ltd. | Philippines |
Procter & Gamble Australia Proprietary Limited | Australia | ||||
Procter & Gamble Azerbaijan Services LLC | Azerbaijan | ||||
Procter & Gamble Bangladesh Private Ltd. | Bangladesh | ||||
Procter & Gamble Blois S.A.S. | France | ||||
Procter & Gamble Brazil Holdings B.V. | Netherlands | ||||
Procter & Gamble Bulgaria EOOD | Bulgaria | ||||
Procter & Gamble Business Services Canada Company | Canada | ||||
Procter & Gamble Canada Holding B.V. | Netherlands | ||||
Procter & Gamble Chile Limitada | Chile | ||||
Procter & Gamble Colombia Ltda. | Colombia | ||||
Procter & Gamble Commercial LLC | Puerto Rico | ||||
Procter & Gamble Czech Republic s.r.o. | Czech Republic | ||||
Procter & Gamble d.o.o. za trgovinu | Croatia | ||||
Procter & Gamble Danmark ApS | Denmark | ||||
Procter & Gamble de Venezuela, S.C.A. | Venezuela | ||||
Procter & Gamble de Venezuela, S.R.L. | Venezuela | ||||
Procter & Gamble Detergent (Beijing) Ltd. | China | ||||
Procter & Gamble Deutschland GmbH | Germany | ||||
Procter & Gamble Distributing (Philippines) Inc. | Philippines | ||||
Procter & Gamble Distributing New Zealand Limited | New Zealand | ||||
Procter & Gamble Distribution Company (Europe) BV | Belgium | ||||
Procter & Gamble Distribution S.R.L. | Romania | ||||
Procter & Gamble do Brasil Ltda. | Brazil | ||||
Procter & Gamble do Brazil, LLC | Delaware | ||||
Procter & Gamble do Nordeste S/A | Brazil | ||||
Procter & Gamble doo Beograd | Serbia and Montenegro | ||||
Procter & Gamble DS Polska Sp. z o.o. | Poland | ||||
Procter & Gamble Eastern Europe, LLC | Ohio | ||||
Procter & Gamble Ecuador Cia. Ltda. | Ecuador | ||||
Procter & Gamble Egypt | Egypt | ||||
Procter & Gamble Egypt Distribution | Egypt | ||||
Procter & Gamble Egypt Holding | Egypt | ||||
Procter & Gamble Egypt Supplies | Egypt | ||||
Procter & Gamble Energy Company LLC | Ohio | ||||
Procter & Gamble España, S.A.U. | Spain | ||||
Procter & Gamble Far East, Inc. | Ohio | ||||
Procter & Gamble Finance (U.K.) Ltd. | U.K. | ||||
Procter & Gamble Finance Holding Ltd. | U.K. | ||||
Procter & Gamble Finance Management S.a.r.l. | Luxembourg | ||||
Procter & Gamble Financial Investments LLP | U.K. | ||||
Procter & Gamble Financial Services Ltd. | U.K. | ||||
Procter & Gamble Financial Services S.a.r.l. | Switzerland | ||||
Procter & Gamble Finland OY | Finland | ||||
Procter & Gamble France S.A.S. | France | ||||
Procter & Gamble Germany GmbH | Germany | ||||
Procter & Gamble Germany GmbH & Co. Operations oHG | Germany | ||||
Procter & Gamble Ghana Trading Limited | Ghana | ||||
Procter & Gamble GmbH | Germany | ||||
Procter & Gamble Grundstucks-und Vermogensverwaltungs GmbH & Co. KG | Germany | ||||
Procter & Gamble Gulf FZE | United Arab Emirates | ||||
Procter & Gamble Hair Care, LLC | Delaware | ||||
Procter & Gamble Health Belgium BV | Belgium | ||||
Procter & Gamble Health Limited | India | ||||
Procter & Gamble Health Ltd. | U.K. | ||||
Procter & Gamble Health Poland Sp. z o.o. | Poland |
Procter & Gamble Hellas Single Member Ltd. | Greece | ||||
Procter & Gamble Holding (Thailand) Limited | Thailand | ||||
Procter & Gamble Holding France S.A.S. | France | ||||
Procter & Gamble Holding GmbH | Germany | ||||
Procter & Gamble Holding S.r.l. | Italy | ||||
Procter & Gamble Holdings (UK) Ltd. | U.K. | ||||
Procter & Gamble Home Products Private Limited | India | ||||
Procter & Gamble Honduras S de RL | Honduras | ||||
Procter & Gamble Hong Kong Limited | Hong Kong | ||||
Procter & Gamble Hungary Wholesale Trading Partnership (KKT) | Hungary | ||||
Procter & Gamble Hygiene & Health Care Limited | India | ||||
Procter & Gamble Inc. | Canada | ||||
Procter & Gamble India Holdings, Inc. | Ohio | ||||
Procter & Gamble Indochina Company Limited | Vietnam | ||||
Procter & Gamble Industrial - 2012 C.A. | Venezuela | ||||
Procter & Gamble Industrial e Comercial Ltda. | Brazil | ||||
Procter & Gamble Industrial S.C.A. | Venezuela | ||||
Procter & Gamble Interamericas de Costa Rica, Limitada | Costa Rica | ||||
Procter & Gamble Interamericas de El Salvador, Limitada de Capital Variable | El Salvador | ||||
Procter & Gamble Interamericas de Guatemala, Limitada | Guatemala | ||||
Procter & Gamble Interamericas de Panama, S. de R.L. | Panama | ||||
Procter & Gamble International Operations SA | Switzerland | ||||
Procter & Gamble International Operations SA-ROHQ | Philippines | ||||
Procter & Gamble International Sarl | Switzerland | ||||
Procter & Gamble Investment Company (UK) Ltd. | U.K. | ||||
Procter & Gamble Investment Holding B.V. | Netherlands | ||||
Procter & Gamble Italia, S.p.A. | Italy | ||||
Procter & Gamble Kazakhstan Distribution LLP | Kazakhstan | ||||
Procter & Gamble Korea S&D Co. | Korea | ||||
Procter & Gamble Korea, Inc. | Korea | ||||
Procter & Gamble Leasing LLC | Ohio | ||||
Procter & Gamble Levant S.A.L. | Lebanon | ||||
Procter & Gamble Limited | U.K. | ||||
"Procter & Gamble" LLC | Russia | ||||
Procter & Gamble Manufacturing (Thailand) Limited | Thailand | ||||
Procter & Gamble Manufacturing (Tianjin) Co. Ltd. | China | ||||
Procter & Gamble Manufacturing Belgium N.V. | Belgium | ||||
Procter & Gamble Manufacturing Berlin GmbH | Germany | ||||
Procter & Gamble Manufacturing GmbH | Germany | ||||
Procter & Gamble Manufacturing Mexico S. de R.L. de C.V. | Mexico | ||||
Procter & Gamble Manufacturing SA (Pty) Ltd | South Africa | ||||
Procter & Gamble Marketing Romania SRL | Romania | ||||
Procter & Gamble Mataro, S.L.U. | Spain | ||||
Procter & Gamble Mexico Holding B.V. | Netherlands | ||||
Procter & Gamble Mexico Inc. | Delaware | ||||
Procter & Gamble Middle East FZE | United Arab Emirates | ||||
Procter & Gamble Nederland B.V. | Netherlands | ||||
Procter & Gamble Netherlands Services B.V. | Netherlands | ||||
Procter & Gamble Nigeria Limited | Nigeria | ||||
Procter & Gamble Norge AS | Norway | ||||
Procter & Gamble Operations Polska Sp. z o.o. | Poland | ||||
Procter & Gamble Overseas India B.V. | Netherlands | ||||
Procter & Gamble Overseas Ltd. | U.K. | ||||
Procter & Gamble Pakistan (Private) Limited | Pakistan | ||||
Procter & Gamble Peru S.R.L. | Peru |
Procter & Gamble Philippines Business Services Inc. | Philippines | ||||
Procter & Gamble Philippines, Inc. | Philippines | ||||
Procter & Gamble Polska Sp. z o.o | Poland | ||||
Procter & Gamble Portugal - Produtos De Consumo, Higiene e Saúde S.A. | Portugal | ||||
Procter & Gamble Product Supply (U.K.) Limited | U.K. | ||||
Procter & Gamble Productions, Inc. | Ohio | ||||
Procter & Gamble Retail Services Sarl | Switzerland | ||||
Procter & Gamble RHD, Inc. | Ohio | ||||
Procter & Gamble RSC Regional Service Company Ltd. | Hungary | ||||
Procter & Gamble S.r.l. | Italy | ||||
Procter & Gamble Service, GmbH | Germany | ||||
Procter & Gamble Services (Switzerland) SA | Switzerland | ||||
Procter & Gamble Services Company N.V. | Belgium | ||||
"Procter & Gamble Services" LLC | Russia | ||||
Procter & Gamble Sverige AB | Sweden | ||||
Procter & Gamble Switzerland SARL | Switzerland | ||||
Procter & Gamble Taiwan Limited | Taiwan | ||||
Procter & Gamble Taiwan Sales Company Limited | Taiwan | ||||
Procter & Gamble Technical Centres Limited | U.K. | ||||
Procter & Gamble Technology (Beijing) Co., Ltd. | China | ||||
Procter & Gamble Trading (Thailand) Limited | Thailand | ||||
Procter & Gamble Tuketim Mallari Sanayii A.S. | Turkey | ||||
Procter & Gamble UK | U.K. | ||||
Procter & Gamble UK Group Holdings Ltd | U.K. | ||||
Procter & Gamble UK Parent Company Ltd. | U.K. | ||||
Procter & Gamble Universal Holding B.V. | Netherlands | ||||
Procter & Gamble Vietnam Company Limited | Vietnam | ||||
Procter & Gamble, Spol. s.r.o. (Ltd.) | Slovak Republic | ||||
Procter & Gamble-Rakona s.r.o. | Czech Republic | ||||
Procter and Gamble Lanka (Private) Limited | Sri Lanka | ||||
Procter and Gamble SA (Pty) Ltd. | South Africa | ||||
Progam Realty & Development Corporation | Philippines | ||||
PT Procter & Gamble Home Products Indonesia | Indonesia | ||||
PT Procter & Gamble Operations Indonesia | Indonesia | ||||
Redmond Products, Inc. | Minnesota | ||||
Richardson-Vicks Real Estate Inc. | Ohio | ||||
Riverfront Music Publishing Co., Inc. | Ohio | ||||
Rosemount LLC | Delaware | ||||
Series Acquisition B.V. | Netherlands | ||||
Seven Seas Limited | U.K. | ||||
Shulton, Inc. | New Jersey | ||||
Snowberry New Zealand Limited | New Zealand | ||||
SPD Development Company Limited | U.K. | ||||
SPD Swiss Precision Diagnostics GmbH | Switzerland | ||||
Sunflower Distributing LLC | Delaware | ||||
Tambrands Inc. | Delaware | ||||
TAOS - FL, LLC | Florida | ||||
TAOS Retail, LLC | Delaware | ||||
Temple Trees Impex & Investment Private Limited | India | ||||
The Art of Shaving - FL, LLC | Florida | ||||
The Dover Wipes Company | Ohio | ||||
The Gillette Company LLC | Delaware | ||||
The Procter & Gamble Distributing LLC | Delaware | ||||
The Procter & Gamble Global Finance Company, LLC | Ohio | ||||
The Procter & Gamble Manufacturing Company | Ohio |
The Procter & Gamble Paper Products Company | Ohio | ||||
The Procter & Gamble U.S. Business Services Company | Ohio | ||||
This is L. Inc. | Delaware | ||||
US CD LLC | Delaware | ||||
Vidal Sassoon (Shanghai) Academy | China | ||||
VitaminHaus Pty Ltd | Australia | ||||
VitaminHaus Pty Ltd | U.K. | ||||
Walker & Co. Brands, Inc. | Delaware | ||||
Zenlen, Inc. | Delaware |
Form S-8 | Form S-8 | Form S-3 | ||||||
No. 33-49289 | No. 333-108997 | No. 333-249543 | ||||||
No. 33-47656 | No. 333-108998 | No. 333-249545 | ||||||
No. 33-50273 | No. 333-108999 | No. 333-249546 | ||||||
No. 33-51469 | No. 333-111304 | |||||||
No. 333-14381 | No. 333-128859 | |||||||
No. 333-21783 | No. 333-143801 | |||||||
No. 333-37905 | No. 333-155046 | |||||||
No. 333-51213 | No. 333-161725 | |||||||
No. 333-51219 | No. 333-164612 | |||||||
No. 333-51221 | No. 333-192841 | |||||||
No. 333-34606 | No. 333-199592 | |||||||
No. 333-44034 | No. 333-208407 | |||||||
No. 333-47132 | No. 333-208408 | |||||||
No. 333-75030 | No. 333-208409 | |||||||
No. 333-100561 | No. 333-208410 | |||||||
No. 333-108991 | No. 333-208411 | |||||||
No. 333-108993 | No. 333-208412 | |||||||
No. 333-108994 | No. 333-234131 | |||||||
No. 333-108995 | No. 333-119592 |