Procter & Gamble Co. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Procter & Gamble Co. has filed its quarterly report (10-Q) for the period ending March 31, 2024.</b>

AI Summary

PROCTER & GAMBLE Co (PG) filed a Quarterly Report (10-Q) with the SEC on April 19, 2024. The filing covers the quarterly period ending March 31, 2024. Procter & Gamble Co. is incorporated in Ohio (OH). The company's fiscal year ends on June 30. The filing is a 10-Q form, indicating a quarterly report. The SEC file number for the company is 001-00434.

Why It Matters

For investors and stakeholders tracking PROCTER & GAMBLE Co, this filing contains several important signals. This 10-Q filing provides investors with an update on the company's financial performance and position during the third quarter of its fiscal year. The detailed financial information within the report is crucial for understanding ongoing operational results, balance sheet changes, and cash flows, aiding in investment decisions.

Risk Assessment

Risk Level: low — PROCTER & GAMBLE Co shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain any unusual or high-risk disclosures, indicating a routine update on the company's financial status.

Analyst Insight

Review the detailed financial statements and management discussion within the 10-Q to assess the company's performance trends and outlook.

Key Numbers

• 2024-03-31 — Period End Date (CONFORMED PERIOD OF REPORT)
• 2024-04-19 — Filing Date (FILED AS OF DATE)
• 06-30 — Fiscal Year End (FISCAL YEAR END)
• 10-Q — Form Type (FORM TYPE)

Key Players & Entities

• PROCTER & GAMBLE Co (company) — FILER
• OH (location) — STATE OF INCORPORATION
• CINCINNATI (location) — CITY
• 0000080424 (company) — CENTRAL INDEX KEY
• 2840 (industry) — STANDARD INDUSTRIAL CLASSIFICATION
• 1934 Act (regulation) — SEC ACT
• 001-00434 (regulation) — SEC FILE NUMBER
• 20240331 (date) — CONFORMED PERIOD OF REPORT

FAQ

Industry Context

Procter & Gamble operates in the consumer goods sector, specifically in the manufacturing and marketing of branded consumer packaged products.

Regulatory Implications

The company is subject to standard SEC regulations for public companies, including the requirement to file quarterly reports (10-Q) under the Securities Exchange Act of 1934.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and cash flow for the quarter ended March 31, 2024.
2. Review any management discussion and analysis (MD&A) sections for insights into performance drivers and future outlook.
3. Check for any new risk factors or updates to existing ones disclosed in the filing.

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-04-19: Filing Date — Date the 10-Q report was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial filing for the period ending March 31, 2024. Comparative data from previous periods will be found within the detailed financial statements.

Filing Documents

• pg-20240331.htm (10-Q) — 1345KB
• fy2324q3jfm10-qexhibit101.htm (EX-10.1) — 10KB
• fy2324q3jfm10-qexhibit311.htm (EX-31.1) — 10KB
• fy2324q3jfm10-qexhibit312.htm (EX-31.2) — 10KB
• fy2324q3jfm10-qexhibit321.htm (EX-32.1) — 5KB
• fy2324q3jfm10-qexhibit322.htm (EX-32.2) — 5KB
• pg-20240331_g1.jpg (GRAPHIC) — 6KB
• 0000080424-24-000051.txt (&nbsp;) — 5860KB
• pg-20240331.xsd (EX-101.SCH) — 37KB
• pg-20240331_cal.xml (EX-101.CAL) — 54KB
• pg-20240331_def.xml (EX-101.DEF) — 203KB
• pg-20240331_lab.xml (EX-101.LAB) — 402KB
• pg-20240331_pre.xml (EX-101.PRE) — 284KB
• pg-20240331_htm.xml (XML) — 942KB

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 29

Controls and Procedures

Item 4. Controls and Procedures 29

Item 1. Legal Proceedings

PART II Item 1. Legal Proceedings 29

Risk Factors

Item 1A. Risk Factors 30

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 30

Other Information

Item 5. Other Information 30

Exhibits

Item 6. Exhibits 31 Signature 31 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 March 31 Nine Months Ended March 31 Amounts in millions except per share amounts 2024 2023 2024 2023 NET SALES $ 20,195 $ 20,068 $ 63,507 $ 61,453 Cost of products sold 9,855 10,404 30,500 32,147 Selling, general and administrative expense 5,880 5,416 17,006 15,334 Indefinite-lived intangible asset impairment charge — — 1,341 — OPERATING INCOME 4,460 4,248 14,660 13,972 Interest expense ( 233 ) ( 222 ) ( 705 ) ( 516 ) Interest income 104 83 366 191 Other non-operating income, net 260 179 570 473 EARNINGS BEFORE INCOME TAXES 4,592 4,288 14,891 14,120 Income taxes 812 864 3,061 2,774 NET EARNINGS 3,781 3,424 11,830 11,346 Less: Net earnings attributable to noncontrolling interests 27 27 88 77 NET EARNINGS ATTRIBUTABLE TO PROCTER & GAMBLE $ 3,754 $ 3,397 $ 11,742 $ 11,269 NET EARNINGS PER COMMON SHARE (1) Basic $ 1.56 $ 1.41 $ 4.89 $ 4.67 Diluted $ 1.52 $ 1.37 $ 4.75 $ 4.53 (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 March 31 Nine Months Ended March 31 Amounts in millions 2024 2023 2024 2023 NET EARNINGS $ 3,781 $ 3,424 $ 11,830 $ 11,346 OTHER COMPREHENSIVE INCOME/(LOSS), NET OF TAX Foreign currency translation ( 211 ) 259 ( 128 ) ( 74 ) Unrealized gains/(losses) on investment securities — 1 ( 2 ) ( 2 ) Unrealized gains/(losses) on defined benefit postretirement plans 7 ( 19 ) ( 23 ) ( 8 ) TOTAL OTHER COMPREHENSIVE INCOME/(LOSS), NET OF TAX ( 204 ) 241 ( 153 ) ( 84 ) TOTAL COMPREHENSIVE INCOME 3,577 3,665 11,677 11,262 Less: Total comprehensive income attributable to noncontrolling interests 26 28 85 70 TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO PROCTER & GAMBLE $ 3,551 $ 3,637 $ 11,592 $ 11,192 See accompanying Notes to Consolidated F

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, 2023. 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. We are currently assessing the impact of this guidance on our disclosures. 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 fiscal year ending June 30, 2026. We are currently assessing the impact of this guidance on