P&G Files Q2 FY25 10-Q Report

TL;DR

P&G's Q2 FY25 10-Q is in! Check financials for the period ending Dec 31, 2024.

AI Summary

Procter & Gamble Co. reported its second quarter results for fiscal year 2025, ending December 31, 2024. The company's filing covers the period from July 1, 2024, to December 31, 2024. Key financial data and disclosures related to its operations and financial position are detailed within this 10-Q report.

Why It Matters

This filing provides investors with an update on Procter & Gamble's financial performance and operational status for the second quarter of fiscal year 2025, crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial disclosures for a large, established company.

Key Numbers

• FY2425 Q2 — Fiscal Quarter (Reporting period for the 10-Q filing.)
• 20241231 — Report End Date (The end date of the reporting period for this 10-Q.)
• 20250122 — Filing Date (The date the 10-Q was officially filed with the SEC.)

Key Players & Entities

• PROCTER & GAMBLE Co (company) — Filer
• 20241231 (date) — Period of Report
• 20250122 (date) — Filing Date
• CINCINNATI (location) — Business Address City
• OH (location) — Business Address State
• 5139831100 (phone_number) — Business Phone

FAQ

Filing Documents

• pg-20241231.htm (10-Q) — 1365KB
• fy2425q2ond10-qexhibit311.htm (EX-31.1) — 10KB
• fy2425q2ond10-qexhibit312.htm (EX-31.2) — 10KB
• fy2425q2ond10-qexhibit321.htm (EX-32.1) — 5KB
• fy2425q2ond10-qexhibit322.htm (EX-32.2) — 5KB
• pg-20241231_g1.jpg (GRAPHIC) — 6KB
• 0000080424-25-000013.txt ( ) — 6181KB
• pg-20241231.xsd (EX-101.SCH) — 35KB
• pg-20241231_cal.xml (EX-101.CAL) — 57KB
• pg-20241231_def.xml (EX-101.DEF) — 177KB
• pg-20241231_lab.xml (EX-101.LAB) — 489KB
• pg-20241231_pre.xml (EX-101.PRE) — 342KB
• pg-20241231_htm.xml (XML) — 899KB

Item 1. Financial Statements

PART I Item 1. Financial Statements 1 Consolidated Statements of Earnings 1 Consolidated Statements of Comprehensive Income 1 Consolidated Balance Sheets 2 Consolidated Statements of Shareholders' Equity 3 Consolidated Statements of Cash Flows 5

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 6 Note 1: Basis of Presentation 6 Note 2: New Accounting Pronouncements and Policies 6 Note 3: Segment Information 6 Note 4: Goodwill and Intangible Assets 7 Note 5: Earnings Per Share 9 Note 6: Share-Based Compensation and Postretirement Benefits 9 Note 7: Risk Management Activities and Fair Value Measurements 10 Note 8: Accumulated Other Comprehensive Income/(Loss) 11 Note 9: Commitments and Contingencies 11 Note 10: Supplier Finance Programs 12 Note 11: Restructuring Program 12

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 13

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 28

Controls and Procedures

Item 4. Controls and Procedures 28

Item 1. Legal Proceedings

PART II Item 1. Legal Proceedings 29

Risk Factors

Item 1A. Risk Factors 29

Unregistered Sales of Equity Securities, Use of Proceeds and Issuer Purchases of Equity Securities

Item 2. Unregistered Sales of Equity Securities, Use of Proceeds and Issuer Purchases of Equity Securities 29

Other Information

Item 5. Other Information 29

Exhibits

Item 6. Exhibits 30 Signature 30 The Procter & Gamble Company 1

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements THE PROCTER & GAMBLE COMPANY AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS Three Months Ended December 31 Six Months Ended December 31 Amounts in millions except per share amounts 2024 2023 2024 2023 NET SALES $ 21,882 $ 21,441 $ 43,619 $ 43,312 Cost of products sold 10,418 10,144 20,839 20,645 Selling, general and administrative expense 5,723 5,522 11,242 11,127 Indefinite-lived intangible asset impairment charge — 1,341 — 1,341 OPERATING INCOME 5,741 4,433 11,538 10,200 Interest expense ( 240 ) ( 248 ) ( 478 ) ( 472 ) Interest income 119 133 254 262 Other non-operating income/(expense), net 224 177 ( 330 ) 309 EARNINGS BEFORE INCOME TAXES 5,845 4,496 10,985 10,299 Income taxes 1,187 1,003 2,339 2,250 NET EARNINGS 4,659 3,493 8,646 8,049 Less: Net earnings attributable to noncontrolling interests 29 25 56 60 NET EARNINGS ATTRIBUTABLE TO PROCTER & GAMBLE $ 4,630 $ 3,468 $ 8,589 $ 7,988 NET EARNINGS PER COMMON SHARE (1) Basic $ 1.94 $ 1.44 $ 3.59 $ 3.33 Diluted $ 1.88 $ 1.40 $ 3.49 $ 3.23 (1) Basic net earnings per common share and Diluted net earnings per common share are calculated on Net earnings attributable to Procter & Gamble. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME Three Months Ended December 31 Six Months Ended December 31 Amounts in millions 2024 2023 2024 2023 NET EARNINGS $ 4,659 $ 3,493 $ 8,646 $ 8,049 OTHER COMPREHENSIVE INCOME/(LOSS), NET OF TAX Foreign currency translation ( 770 ) 492 256 83 Unrealized gains/(losses) on investment securities — ( 1 ) 1 ( 2 ) Unrealized gains/(losses) on defined benefit postretirement plans 24 ( 75 ) 3 ( 30 ) TOTAL OTHER COMPREHENSIVE INCOME/(LOSS), NET OF TAX ( 747 ) 416 260 51 TOTAL COMPREHENSIVE INCOME 3,912 3,909 8,906 8,100 Less: Comprehensive income attributable to noncontrolling interests 26 25 54 58 TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO PROCTER & GAMBLE $ 3,887 $ 3,884 $ 8,852 $ 8,041 See accompanying Notes to Consolidated Fi

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 1. Basis of Presentation The accompanying unaudited Consolidated Financial Statements of The Procter & Gamble Company and subsidiaries ("the Company," "Procter & Gamble," "P&G," "we" or "our") should be read in conjunction with the Company's Annual Report on Form 10-K for the fiscal year ended June 30, 2024. We have prepared these statements in conformity with accounting principles generally accepted in the United States (U.S. GAAP) pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (SEC) for interim financial information. Note that certain columns and rows may not add due to rounding. In the opinion of management, the accompanying Consolidated Financial Statements contain all normal recurring adjustments necessary to present fairly the financial position, results of operations and cash flows for the interim periods reported. However, the results of operations included in such financial statements may not necessarily be indicative of annual results. 2. New Accounting Pronouncements and Policies In November 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2023-07, "Segment Reporting: Improvements to Reportable Segment Disclosures." This guidance requires disclosure of incremental segment information on an annual and interim basis. This amendment is effective for our fiscal year ending June 30, 2025 and our interim periods within the fiscal year ending June 30, 2026. The guidance will require additional disclosures in the Segment Information footnote, but will not have a material impact on our Consolidated Financial Statements. In December 2023, the FASB issued ASU No. 2023-09, "Income Taxes: Improvements to Income Tax Disclosures." This guidance requires consistent categories and greater disaggregation of information in the rate reconciliation and disclosures of income taxes paid by jurisdiction. This amendment is effective for our fis

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