| True | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | |||||||
| False | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 | |||||||

| OH | ||||||||||||||
| (State of Incorporation) | (Commission File Number) | (I.R.S. Employer Identification Number) | ||||||||||||
| One Procter & Gamble Plaza | Cincinnati | OH | ||||||||||||
| (Address of principal executive offices) | (Zip Code) | |||||||||||||
| Title of each class | Trading Symbol | Name of each exchange on which registered | ||||||
| | ||||||||
| þ | Accelerated filer | ¨ | |||||||||||||||||||||
| Non-accelerated filer | ¨ | Smaller reporting company | False | ||||||||||||||||||||
| Emerging growth company | False | ||||||||||||||||||||||
| FORM 10-Q TABLE OF CONTENTS | Page | ||||||||||
| PART I | Item 1. | ||||||||||
| Item 2. | |||||||||||
| Item 3. | |||||||||||
| Item 4. | |||||||||||
| PART II | Item 1. | ||||||||||
| Item 1A. | |||||||||||
| Item 2. | |||||||||||
| Item 5. | |||||||||||
| Item 6. | |||||||||||
| Item 1. | Financial Statements | ||||
| Three Months Ended March 31 | Nine Months Ended March 31 | ||||||||||||||||||||||
| Amounts in millions except per share amounts | 2026 | 2025 | 2026 | 2025 | |||||||||||||||||||
| NET SALES | $ | $ | $ | $ | |||||||||||||||||||
| Cost of products sold | |||||||||||||||||||||||
| Selling, general and administrative expense | |||||||||||||||||||||||
| OPERATING INCOME | |||||||||||||||||||||||
| Interest expense | ( | ( | ( | ( | |||||||||||||||||||
| Interest income | |||||||||||||||||||||||
| Other non-operating income/(expense), net | ( | ||||||||||||||||||||||
| EARNINGS BEFORE INCOME TAXES | |||||||||||||||||||||||
| Income taxes | |||||||||||||||||||||||
| NET EARNINGS | |||||||||||||||||||||||
| Less: Net earnings attributable to noncontrolling interests | |||||||||||||||||||||||
| NET EARNINGS ATTRIBUTABLE TO PROCTER & GAMBLE | $ | $ | $ | $ | |||||||||||||||||||
NET EARNINGS PER COMMON SHARE (1) | |||||||||||||||||||||||
| Basic | $ | $ | $ | $ | |||||||||||||||||||
| Diluted | $ | $ | $ | $ | |||||||||||||||||||
| Three Months Ended March 31 | Nine Months Ended March 31 | ||||||||||||||||||||||
| Amounts in millions | 2026 | 2025 | 2026 | 2025 | |||||||||||||||||||
| NET EARNINGS | $ | $ | $ | $ | |||||||||||||||||||
| OTHER COMPREHENSIVE INCOME/(LOSS), NET OF TAX | |||||||||||||||||||||||
| Foreign currency translation | ( | ( | |||||||||||||||||||||
| Unrealized gains/(losses) on investment securities | |||||||||||||||||||||||
| Unrealized gains/(losses) on defined benefit postretirement plans | ( | ( | |||||||||||||||||||||
| TOTAL OTHER COMPREHENSIVE INCOME/(LOSS), NET OF TAX | ( | ( | |||||||||||||||||||||
| TOTAL COMPREHENSIVE INCOME | |||||||||||||||||||||||
| Less: Comprehensive income attributable to noncontrolling interests | |||||||||||||||||||||||
| TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO PROCTER & GAMBLE | $ | $ | $ | $ | |||||||||||||||||||
| Amounts in millions | March 31, 2026 | June 30, 2025 | |||||||||||||||||||||
| Assets | |||||||||||||||||||||||
| CURRENT ASSETS | |||||||||||||||||||||||
| Cash and cash equivalents | $ | $ | |||||||||||||||||||||
| Accounts receivable | |||||||||||||||||||||||
| INVENTORIES | |||||||||||||||||||||||
| Materials and supplies | |||||||||||||||||||||||
| Work in process | |||||||||||||||||||||||
| Finished goods | |||||||||||||||||||||||
| Total inventories | |||||||||||||||||||||||
| Prepaid expenses and other current assets | |||||||||||||||||||||||
| TOTAL CURRENT ASSETS | |||||||||||||||||||||||
| PROPERTY, PLANT AND EQUIPMENT, NET | |||||||||||||||||||||||
| GOODWILL | |||||||||||||||||||||||
| TRADEMARKS AND OTHER INTANGIBLE ASSETS, NET | |||||||||||||||||||||||
| OTHER NONCURRENT ASSETS | |||||||||||||||||||||||
| TOTAL ASSETS | $ | $ | |||||||||||||||||||||
| Liabilities and Shareholders' Equity | |||||||||||||||||||||||
| CURRENT LIABILITIES | |||||||||||||||||||||||
| Accounts payable | $ | $ | |||||||||||||||||||||
| Accrued and other liabilities | |||||||||||||||||||||||
| Debt due within one year | |||||||||||||||||||||||
| TOTAL CURRENT LIABILITIES | |||||||||||||||||||||||
| LONG-TERM DEBT | |||||||||||||||||||||||
| DEFERRED INCOME TAXES | |||||||||||||||||||||||
| OTHER NONCURRENT LIABILITIES | |||||||||||||||||||||||
| TOTAL LIABILITIES | |||||||||||||||||||||||
| SHAREHOLDERS’ EQUITY | |||||||||||||||||||||||
| Preferred stock | |||||||||||||||||||||||
| Common stock – shares issued – | March 2026 | ||||||||||||||||||||||
| June 2025 | |||||||||||||||||||||||
| Additional paid-in capital | |||||||||||||||||||||||
| Reserve for ESOP debt retirement | ( | ( | |||||||||||||||||||||
| Accumulated other comprehensive loss | ( | ( | |||||||||||||||||||||
| Treasury stock | ( | ( | |||||||||||||||||||||
| Retained earnings | |||||||||||||||||||||||
| Noncontrolling interest | |||||||||||||||||||||||
| TOTAL SHAREHOLDERS’ EQUITY | |||||||||||||||||||||||
| TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | $ | $ | |||||||||||||||||||||
| Three Months Ended March 31, 2026 | ||||||||||||||||||||||||||||||||
| 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 Comprehensive Income/(Loss) | Treasury Stock | Retained Earnings | Noncontrolling Interest | Total Shareholders' Equity | |||||||||||||||||||||||
| Shares | Amount | |||||||||||||||||||||||||||||||
| BALANCE DECEMBER 31, 2025 | $ | $ | $ | ($ | ($ | ($ | $ | $ | $ | |||||||||||||||||||||||
| Net earnings | ||||||||||||||||||||||||||||||||
| Other comprehensive income/(loss) | ( | ( | ( | |||||||||||||||||||||||||||||
Dividends and dividend equivalents ($ | ||||||||||||||||||||||||||||||||
| Common | ( | ( | ||||||||||||||||||||||||||||||
| Preferred | ( | ( | ||||||||||||||||||||||||||||||
| Treasury stock purchases | ( | ( | ( | |||||||||||||||||||||||||||||
| Employee stock plans | ||||||||||||||||||||||||||||||||
| Preferred stock conversions | ( | |||||||||||||||||||||||||||||||
| ESOP debt impacts | ||||||||||||||||||||||||||||||||
| Noncontrolling interest, net | — | ( | ( | |||||||||||||||||||||||||||||
| BALANCE MARCH 31, 2026 | $ | $ | $ | ($ | ($ | ($ | $ | $ | $ | |||||||||||||||||||||||
| Nine Months Ended March 31, 2026 | ||||||||||||||||||||||||||||||||
| Dollars in millions; shares in thousands | Common Stock | Preferred Stock | Additional Paid-In Capital | Reserve for ESOP Debt Retirement | Accumulated Other Comprehensive Income/(Loss) | Treasury Stock | Retained Earnings | Noncontrolling Interest | Total Shareholders' Equity | |||||||||||||||||||||||
| Shares | Amount | |||||||||||||||||||||||||||||||
| BALANCE JUNE 30, 2025 | $ | $ | $ | ($ | ($ | ($ | $ | $ | $ | |||||||||||||||||||||||
| Net earnings | ||||||||||||||||||||||||||||||||
| Other comprehensive income/(loss) | ( | ( | ( | |||||||||||||||||||||||||||||
Dividends and dividend equivalents ($ | ||||||||||||||||||||||||||||||||
| Common | ( | ( | ||||||||||||||||||||||||||||||
| Preferred | ( | ( | ||||||||||||||||||||||||||||||
| Treasury stock purchases | ( | ( | ( | |||||||||||||||||||||||||||||
| Employee stock plans | ||||||||||||||||||||||||||||||||
| Preferred stock conversions | ( | |||||||||||||||||||||||||||||||
| ESOP debt impacts | ||||||||||||||||||||||||||||||||
| Noncontrolling interest, net | — | ( | ( | |||||||||||||||||||||||||||||
| BALANCE MARCH 31, 2026 | $ | $ | $ | ($ | ($ | ($ | $ | $ | $ | |||||||||||||||||||||||
| Three Months Ended March 31, 2025 | ||||||||||||||||||||||||||||||||
| Dollars in millions; shares in thousands | Common Stock | Preferred Stock | Additional Paid-In Capital | Reserve for ESOP Debt Retirement | Accumulated Other Comprehensive Income/(Loss) | Treasury Stock | Retained Earnings | Noncontrolling Interest | Total Shareholders' Equity | |||||||||||||||||||||||
| Shares | Amount | |||||||||||||||||||||||||||||||
| BALANCE DECEMBER 31, 2024 | $ | $ | $ | ($ | ($ | ($ | $ | $ | $ | |||||||||||||||||||||||
| Net earnings | ||||||||||||||||||||||||||||||||
| Other comprehensive income/(loss) | ||||||||||||||||||||||||||||||||
Dividends and dividend equivalents ($ | ||||||||||||||||||||||||||||||||
| Common | ( | ( | ||||||||||||||||||||||||||||||
| Preferred | ( | ( | ||||||||||||||||||||||||||||||
| Treasury stock purchases | ( | ( | ( | |||||||||||||||||||||||||||||
| Employee stock plans | ||||||||||||||||||||||||||||||||
| Preferred stock conversions | ( | |||||||||||||||||||||||||||||||
| ESOP debt impacts | ||||||||||||||||||||||||||||||||
| Noncontrolling interest, net | — | ( | ( | |||||||||||||||||||||||||||||
| BALANCE MARCH 31, 2025 | $ | $ | $ | ($ | ($ | ($ | $ | $ | $ | |||||||||||||||||||||||
| Nine Months Ended March 31, 2025 | ||||||||||||||||||||||||||||||||
| Dollars in millions; shares in thousands | Common Stock | Preferred Stock | Additional Paid-In Capital | Reserve for ESOP Debt Retirement | Accumulated Other Comprehensive Income/(Loss) | Treasury Stock | Retained Earnings | Noncontrolling Interest | Total Shareholders' Equity | |||||||||||||||||||||||
| Shares | Amount | |||||||||||||||||||||||||||||||
| BALANCE JUNE 30, 2024 | $ | $ | $ | ($ | ($ | ($ | $ | $ | $ | |||||||||||||||||||||||
| Net earnings | ||||||||||||||||||||||||||||||||
| Other comprehensive income/(loss) | ( | |||||||||||||||||||||||||||||||
Dividends and dividend equivalents ($ | ||||||||||||||||||||||||||||||||
| Common | ( | ( | ||||||||||||||||||||||||||||||
| Preferred | ( | ( | ||||||||||||||||||||||||||||||
| Treasury stock purchases | ( | ( | ( | |||||||||||||||||||||||||||||
| Employee stock plans | ||||||||||||||||||||||||||||||||
| Preferred stock conversions | ( | |||||||||||||||||||||||||||||||
| ESOP debt impacts | ||||||||||||||||||||||||||||||||
| Noncontrolling interest, net | — | ( | ( | |||||||||||||||||||||||||||||
| BALANCE MARCH 31, 2025 | $ | $ | $ | ($ | ($ | ($ | $ | $ | $ | |||||||||||||||||||||||
| Nine Months Ended March 31 | |||||||||||
| Amounts in millions | 2026 | 2025 | |||||||||
| CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD | $ | $ | |||||||||
OPERATING ACTIVITIES (1) | |||||||||||
| Net earnings | |||||||||||
| Depreciation and amortization | |||||||||||
| Share-based compensation expense | |||||||||||
| Deferred income taxes | |||||||||||
| (Gain)/loss on sale of assets | ( | ||||||||||
| Change in accounts receivable | ( | ( | |||||||||
| Change in inventories | ( | ( | |||||||||
| Change in accounts payable | ( | ||||||||||
| Other | ( | ( | |||||||||
| TOTAL OPERATING ACTIVITIES | |||||||||||
| INVESTING ACTIVITIES | |||||||||||
| Capital expenditures | ( | ( | |||||||||
| Proceeds from asset sales | |||||||||||
| Acquisitions, net of cash acquired | ( | ( | |||||||||
| Other investing activity | ( | ( | |||||||||
| TOTAL INVESTING ACTIVITIES | ( | ( | |||||||||
| FINANCING ACTIVITIES | |||||||||||
| Dividends to shareholders | ( | ( | |||||||||
| Additions to short-term debt with original maturities of more than three months | |||||||||||
| Reductions in short-term debt with original maturities of more than three months | ( | ( | |||||||||
| Net additions/(reductions) to other short-term debt | ( | ||||||||||
| Additions to long-term debt | |||||||||||
| Reductions in long-term debt | ( | ( | |||||||||
| Treasury stock purchases | ( | ( | |||||||||
| Impact of stock options and other | |||||||||||
| TOTAL FINANCING ACTIVITIES | ( | ( | |||||||||
| EFFECT OF EXCHANGE RATE CHANGES ON CASH, CASH EQUIVALENTS AND RESTRICTED CASH | ( | ( | |||||||||
| CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH | ( | ||||||||||
| CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD | $ | $ | |||||||||
% of Net sales by operating segment (1) | |||||||||||||||||||||||
| Three Months Ended March 31 | Nine Months Ended March 31 | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
| Fabric Care | % | % | % | % | |||||||||||||||||||
| Home Care | % | % | % | % | |||||||||||||||||||
| Baby Care | % | % | % | % | |||||||||||||||||||
| Hair Care | % | % | % | % | |||||||||||||||||||
| Family Care | % | % | % | % | |||||||||||||||||||
| Grooming | % | % | % | % | |||||||||||||||||||
| Oral Care | % | % | % | % | |||||||||||||||||||
| Personal Health Care | % | % | % | % | |||||||||||||||||||
| Feminine Care | % | % | % | % | |||||||||||||||||||
| Personal Care | % | % | % | % | |||||||||||||||||||
| Skin Care | % | % | % | % | |||||||||||||||||||
| Total | % | % | % | % | |||||||||||||||||||
| Three Months Ended March 31, 2026 | |||||||||||||||||||||||||||||||||||||||||
| Beauty | Grooming | Health Care | Fabric & Home Care | Baby, Feminine & Family Care | Corporate | Total Company | |||||||||||||||||||||||||||||||||||
| Net sales | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||
| Cost of products sold | ( | ( | ( | ( | ( | ( | ( | ||||||||||||||||||||||||||||||||||
| Selling, general and administrative expense | ( | ( | ( | ( | ( | ( | ( | ||||||||||||||||||||||||||||||||||
Other segment items (1) | |||||||||||||||||||||||||||||||||||||||||
| Earnings/(loss) before income taxes | |||||||||||||||||||||||||||||||||||||||||
| Net earnings/(loss) | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||
| Other segment information | |||||||||||||||||||||||||||||||||||||||||
| Depreciation and amortization | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||
| Capital expenditures | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||
| Three Months Ended March 31, 2025 | |||||||||||||||||||||||||||||||||||||||||
| Beauty | Grooming | Health Care | Fabric & Home Care | Baby, Feminine & Family Care | Corporate | Total Company | |||||||||||||||||||||||||||||||||||
| Net sales | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||
| Cost of products sold | ( | ( | ( | ( | ( | ( | ( | ||||||||||||||||||||||||||||||||||
| Selling, general and administrative expense | ( | ( | ( | ( | ( | ( | |||||||||||||||||||||||||||||||||||
Other segment items (1) | |||||||||||||||||||||||||||||||||||||||||
| Earnings/(loss) before income taxes | |||||||||||||||||||||||||||||||||||||||||
| Net earnings/(loss) | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||
| Other segment information | |||||||||||||||||||||||||||||||||||||||||
| Depreciation and amortization | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||
| Capital expenditures | $ | $ | $ | $ | $ | $ | ( | $ | |||||||||||||||||||||||||||||||||
| Nine Months Ended March 31, 2026 | |||||||||||||||||||||||||||||||||||||||||
| Beauty | Grooming | Health Care | Fabric & Home Care | Baby, Feminine & Family Care | Corporate | Total Company | |||||||||||||||||||||||||||||||||||
| Net sales | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||
| Cost of products sold | ( | ( | ( | ( | ( | ( | ( | ||||||||||||||||||||||||||||||||||
| Selling, general and administrative expense | ( | ( | ( | ( | ( | ( | ( | ||||||||||||||||||||||||||||||||||
Other segment items (1) | |||||||||||||||||||||||||||||||||||||||||
| Earnings/(loss) before income taxes | ( | ||||||||||||||||||||||||||||||||||||||||
| Net earnings/(loss) | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||
| Other segment information | |||||||||||||||||||||||||||||||||||||||||
| Depreciation and amortization | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||
| Capital expenditures | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||
| Nine Months Ended March 31, 2025 | |||||||||||||||||||||||||||||||||||||||||
| Beauty | Grooming | Health Care | Fabric & Home Care | Baby, Feminine & Family Care | Corporate | Total Company | |||||||||||||||||||||||||||||||||||
| Net sales | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||
| Cost of products sold | ( | ( | ( | ( | ( | ( | ( | ||||||||||||||||||||||||||||||||||
| Selling, general and administrative expense | ( | ( | ( | ( | ( | ( | ( | ||||||||||||||||||||||||||||||||||
Other segment items (1) | ( | ( | ( | ||||||||||||||||||||||||||||||||||||||
| Earnings/(loss) before income taxes | ( | ||||||||||||||||||||||||||||||||||||||||
| Net earnings/(loss) | $ | $ | $ | $ | $ | $ | ( | $ | |||||||||||||||||||||||||||||||||
| Other segment information | |||||||||||||||||||||||||||||||||||||||||
| Depreciation and amortization | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||
| Capital expenditures | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||
| Beauty | Grooming | Health Care | Fabric & Home Care | Baby, Feminine & Family Care | Total Company | ||||||||||||||||||||||||||||||
| GOODWILL AT JUNE 30, 2025 | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||
| Acquisitions and divestitures | |||||||||||||||||||||||||||||||||||
| Translation and other | ( | ( | ( | ( | ( | ( | |||||||||||||||||||||||||||||
| GOODWILL AT MARCH 31, 2026 | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||
| Gross Carrying Amount | Accumulated Amortization | ||||||||||
| Intangible assets with determinable lives | $ | $ | ( | ||||||||
| Intangible assets with indefinite lives | — | ||||||||||
| Total identifiable intangible assets | $ | $ | ( | ||||||||
| Approximate Percent Change in Estimated Fair Value | |||||||||||||||||
| +25 bps Discount Rate | -25 bps Growth Rates | -50 bps Royalty Rate | |||||||||||||||
| Gillette indefinite-lived intangible asset | ( | % | ( | % | ( | % | |||||||||||
| CONSOLIDATED AMOUNTS | Three Months Ended March 31 | Nine Months Ended March 31 | |||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
| Net earnings attributable to P&G (Diluted) | $ | $ | $ | $ | |||||||||||||||||||
| Less: Preferred dividends | |||||||||||||||||||||||
| Net earnings attributable to P&G available to common shareholders (Basic) | $ | $ | $ | $ | |||||||||||||||||||
| SHARES IN MILLIONS | |||||||||||||||||||||||
| Basic weighted average common shares outstanding | |||||||||||||||||||||||
| Add effect of dilutive securities: | |||||||||||||||||||||||
Stock options and other unvested equity awards (1) | |||||||||||||||||||||||
Convertible preferred shares (2) | |||||||||||||||||||||||
| Diluted weighted average common shares outstanding | |||||||||||||||||||||||
| NET EARNINGS PER COMMON SHARE | |||||||||||||||||||||||
| Basic | $ | $ | $ | $ | |||||||||||||||||||
| Diluted | $ | $ | $ | $ | |||||||||||||||||||
| Three Months Ended March 31 | Nine Months Ended March 31 | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
| Share-based compensation expense | $ | $ | $ | $ | |||||||||||||||||||
| Net periodic benefit cost for pension benefits | |||||||||||||||||||||||
| Net periodic benefit (credit) for other retiree benefits | ( | ( | ( | ( | |||||||||||||||||||
| Notional Amount | Fair Value Asset | Fair Value (Liability) | |||||||||||||||||||||||||||||||||
| March 31, 2026 | June 30, 2025 | March 31, 2026 | June 30, 2025 | March 31, 2026 | June 30, 2025 | ||||||||||||||||||||||||||||||
| DERIVATIVES IN FAIR VALUE HEDGING RELATIONSHIPS | |||||||||||||||||||||||||||||||||||
| Interest rate contracts | $ | $ | $ | $ | $ | ( | $ | ( | |||||||||||||||||||||||||||
| DERIVATIVES IN NET INVESTMENT HEDGING RELATIONSHIPS | |||||||||||||||||||||||||||||||||||
| Foreign currency interest rate contracts | $ | $ | $ | $ | $ | ( | $ | ( | |||||||||||||||||||||||||||
| TOTAL DERIVATIVES DESIGNATED AS HEDGING INSTRUMENTS | $ | $ | $ | $ | $ | ( | $ | ( | |||||||||||||||||||||||||||
| DERIVATIVES NOT DESIGNATED AS HEDGING INSTRUMENTS | |||||||||||||||||||||||||||||||||||
| Foreign currency contracts | $ | $ | $ | $ | $ | ( | $ | ||||||||||||||||||||||||||||
| TOTAL DERIVATIVES AT FAIR VALUE | $ | $ | $ | $ | $ | ( | $ | ( | |||||||||||||||||||||||||||
| Amount of Gain/(Loss) Recognized in OCI on Derivatives | |||||||||||||||||||||||
| Three Months Ended March 31 | Nine Months Ended March 31 | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
DERIVATIVES IN NET INVESTMENT HEDGING RELATIONSHIPS (1) (2) | |||||||||||||||||||||||
| Foreign currency interest rate contracts | $ | $ | ( | $ | $ | ( | |||||||||||||||||
| Amount of Gain/(Loss) Recognized in Earnings | |||||||||||||||||||||||
| Three Months Ended March 31 | Nine Months Ended March 31 | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
| DERIVATIVES IN FAIR VALUE HEDGING RELATIONSHIPS | |||||||||||||||||||||||
| Interest rate contracts | $ | ( | $ | ( | $ | ( | $ | ||||||||||||||||
| DERIVATIVES NOT DESIGNATED AS HEDGING INSTRUMENTS | |||||||||||||||||||||||
| Foreign currency contracts | $ | ( | $ | $ | $ | ( | |||||||||||||||||
| Investment Securities | Postretirement Benefit Plans | Foreign Currency Translation | Total AOCI | ||||||||||||||||||||
| BALANCE AT JUNE 30, 2025, NET OF TAX | $ | $ | ( | $ | ( | $ | ( | ||||||||||||||||
| Other comprehensive income/(loss), before tax: | |||||||||||||||||||||||
| OCI before reclassifications | ( | ( | |||||||||||||||||||||
| Amounts reclassified to the Consolidated Statement of Earnings | |||||||||||||||||||||||
| Total other comprehensive income/(loss), before tax | ( | ( | |||||||||||||||||||||
| Tax effect | ( | ( | ( | ( | |||||||||||||||||||
| Total other comprehensive income/(loss), net of tax | ( | ( | |||||||||||||||||||||
| Less: OCI attributable to noncontrolling interests, net of tax | ( | ( | |||||||||||||||||||||
| BALANCE AT MARCH 31, 2026, NET OF TAX | $ | $ | ( | $ | ( | $ | ( | ||||||||||||||||
| Separations | Asset Related Costs | Other | Total | ||||||||||||||||||||
| RESERVE JUNE 30, 2025 | $ | $ | $ | $ | |||||||||||||||||||
| Costs incurred for the six months ended December 31, 2025 | |||||||||||||||||||||||
| Costs incurred for the three months ended March 31, 2026 | |||||||||||||||||||||||
| Costs incurred for the nine months ended March 31, 2026 | |||||||||||||||||||||||
| Costs paid/settled for the nine months ended March 31, 2026 | ( | ( | ( | ( | |||||||||||||||||||
| RESERVE MARCH 31, 2026 | $ | $ | $ | $ | |||||||||||||||||||
| Item 2. | Management's Discussion and Analysis of Financial Condition and Results of Operations | ||||
| Reportable Segments | Product Categories (Sub-Categories) | Major Brands | ||||||
| Beauty | Hair Care (Conditioners, Shampoos, Styling Aids, Treatments) | Head & Shoulders, Herbal Essences, Pantene, Rejoice | ||||||
Personal Care (1) (Antiperspirants and Deodorants, Personal Cleansing) | Native, Old Spice, Safeguard, Secret | |||||||
Skin Care (1) (Facial Moisturizers, Cleaners and Treatments) | Olay, SK-II | |||||||
| Grooming | Grooming (Appliances, Female Blades & Razors, Male Blades & Razors, Pre- and Post-Shave Products, Other Grooming) | Braun, Gillette, Venus | ||||||
| Health Care | Oral Care (Toothbrushes, Toothpastes, Other Oral Care) | Crest, Oral-B | ||||||
Personal Health Care (Gastrointestinal, Pain Relief, Rapid Diagnostics, Respiratory, Vitamins/Minerals/Supplements, Other Personal Health Care) | Metamucil, Neurobion, Pepto-Bismol, Vicks | |||||||
| Fabric & Home Care | 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 | Baby Care (Baby Wipes, Taped Diapers and Pants) | Luvs, Pampers | ||||||
Feminine Care (Adult Incontinence, Menstrual Care) | Always, Always Discreet, Tampax | |||||||
Family Care (Paper Towels, Tissues, Toilet Paper) | Bounty, Charmin, Puffs | |||||||
| Three Months Ended March 31, 2026 | Nine Months Ended March 31, 2026 | ||||||||||||||||||||||
| Net Sales | Net Earnings | Net Sales | Net Earnings | ||||||||||||||||||||
| Beauty | 18 | % | 15 | % | 18 | % | 17 | % | |||||||||||||||
| Grooming | 8 | % | 9 | % | 8 | % | 9 | % | |||||||||||||||
| Health Care | 15 | % | 15 | % | 15 | % | 16 | % | |||||||||||||||
| Fabric & Home Care | 35 | % | 35 | % | 35 | % | 34 | % | |||||||||||||||
| Baby, Feminine & Family Care | 24 | % | 26 | % | 24 | % | 24 | % | |||||||||||||||
| Total Company | 100 | % | 100 | % | 100 | % | 100 | % | |||||||||||||||
| Three Months Ended March 31 | |||||||||||||||||
| Amounts in millions, except per share amounts | 2026 | 2025 | % Chg | ||||||||||||||
| Net sales | $ | 21,235 | $ | 19,776 | 7% | ||||||||||||
| Operating income | 4,576 | 4,558 | —% | ||||||||||||||
| Earnings before income taxes | 4,989 | 4,661 | 7% | ||||||||||||||
| Net earnings | 3,951 | 3,793 | 4% | ||||||||||||||
| Net earnings attributable to Procter & Gamble | 3,932 | 3,769 | 4% | ||||||||||||||
| Diluted net earnings per common share | 1.63 | 1.54 | 6% | ||||||||||||||
| Core net earnings per common share | 1.59 | 1.54 | 3% | ||||||||||||||
| Three Months Ended March 31 | |||||||||||||||||
| COMPARISONS AS A PERCENTAGE OF NET SALES | 2026 | 2025 | Basis Pt Chg | ||||||||||||||
| Gross margin | 49.5 | % | 51.0 | % | (150) | ||||||||||||
| Selling, general & administrative expense | 28.0 | % | 27.9 | % | 10 | ||||||||||||
| Operating income | 21.5 | % | 23.0 | % | (150) | ||||||||||||
| Earnings before income taxes | 23.5 | % | 23.6 | % | (10) | ||||||||||||
| Net earnings | 18.6 | % | 19.2 | % | (60) | ||||||||||||
| Net earnings attributable to Procter & Gamble | 18.5 | % | 19.1 | % | (60) | ||||||||||||
Net Sales Change Drivers 2026 vs. 2025 (Three Months Ended March 31) (1) | |||||||||||||||||||||||||||||||||||||||||
| Volume with Acquisitions & Divestitures | Volume Excluding Acquisitions & Divestitures | Foreign Exchange | Price | Mix | Other (2) | Net Sales Growth | |||||||||||||||||||||||||||||||||||
| Beauty | 5 | % | 5 | % | 4 | % | 1 | % | 1 | % | — | % | 11 | % | |||||||||||||||||||||||||||
| Grooming | (2) | % | (2) | % | 6 | % | 3 | % | — | % | — | % | 7 | % | |||||||||||||||||||||||||||
| Health Care | (2) | % | (2) | % | 5 | % | 2 | % | 1 | % | 1 | % | 7 | % | |||||||||||||||||||||||||||
| Fabric & Home Care | 2 | % | 2 | % | 4 | % | 1 | % | — | % | — | % | 7 | % | |||||||||||||||||||||||||||
| Baby, Feminine & Family Care | 3 | % | 3 | % | 3 | % | — | % | — | % | — | % | 6 | % | |||||||||||||||||||||||||||
| Total Company | 2 | % | 2 | % | 4 | % | 1 | % | — | % | — | % | 7 | % | |||||||||||||||||||||||||||
Nine Months Ended March 31 | |||||||||||||||||
| Amounts in millions, except per share amounts | 2026 | 2025 | % Chg | ||||||||||||||
| Net sales | $ | 65,828 | $ | 63,395 | 4% | ||||||||||||
| Operating income | 15,798 | 16,096 | (2)% | ||||||||||||||
| Earnings before income taxes | 16,444 | 15,646 | 5% | ||||||||||||||
| Net earnings | 13,063 | 12,439 | 5% | ||||||||||||||
| Net earnings attributable to Procter & Gamble | 13,002 | 12,359 | 5% | ||||||||||||||
| Diluted net earnings per common share | 5.36 | 5.03 | 7% | ||||||||||||||
| Core net earnings per common share | 5.46 | 5.35 | 2% | ||||||||||||||
Nine Months Ended March 31 | |||||||||||||||||
| COMPARISONS AS A PERCENTAGE OF NET SALES | 2026 | 2025 | Basis Pt Chg | ||||||||||||||
| Gross margin | 50.7 | % | 51.8 | % | (110) | ||||||||||||
| Selling, general & administrative expense | 26.7 | % | 26.4 | % | 30 | ||||||||||||
| Operating income | 24.0 | % | 25.4 | % | (140) | ||||||||||||
| Earnings before income taxes | 25.0 | % | 24.7 | % | 30 | ||||||||||||
| Net earnings | 19.8 | % | 19.6 | % | 20 | ||||||||||||
| Net earnings attributable to Procter & Gamble | 19.8 | % | 19.5 | % | 30 | ||||||||||||
Net Sales Change Drivers 2026 vs. 2025 (Nine Months Ended March 31) (1) | |||||||||||||||||||||||||||||||||||||||||
| Volume with Acquisitions & Divestitures | Volume Excluding Acquisitions & Divestitures | Foreign Exchange | Price | Mix | Other (2) | Net Sales Growth | |||||||||||||||||||||||||||||||||||
| Beauty | 4 | % | 4 | % | 2 | % | 2 | % | (1) | % | — | % | 7 | % | |||||||||||||||||||||||||||
| Grooming | (1) | % | (1) | % | 4 | % | 3 | % | (1) | % | — | % | 5 | % | |||||||||||||||||||||||||||
| Health Care | (1) | % | (1) | % | 3 | % | 1 | % | 2 | % | — | % | 5 | % | |||||||||||||||||||||||||||
| Fabric & Home Care | — | % | — | % | 2 | % | 1 | % | — | % | — | % | 3 | % | |||||||||||||||||||||||||||
| Baby, Feminine & Family Care | (1) | % | (1) | % | 2 | % | — | % | — | % | — | % | 1 | % | |||||||||||||||||||||||||||
| Total Company | — | % | — | % | 2 | % | 1 | % | — | % | 1 | % | 4 | % | |||||||||||||||||||||||||||
| Three Months Ended March 31, 2026 | |||||||||||||||||||||||||||||||||||
| Net Sales | % Change Versus Year Ago | Earnings/(Loss) Before Income Taxes | % Change Versus Year Ago | Net Earnings/(Loss) | % Change Versus Year Ago | ||||||||||||||||||||||||||||||
| Beauty | $ | 3,866 | 11 | % | $ | 761 | 11 | % | $ | 579 | 7 | % | |||||||||||||||||||||||
| Grooming | 1,608 | 7 | % | 436 | 8 | % | 331 | 3 | % | ||||||||||||||||||||||||||
| Health Care | 3,073 | 7 | % | 768 | 5 | % | 579 | 2 | % | ||||||||||||||||||||||||||
| Fabric & Home Care | 7,403 | 7 | % | 1,689 | 3 | % | 1,300 | 1 | % | ||||||||||||||||||||||||||
| Baby, Feminine & Family Care | 5,058 | 6 | % | 1,282 | 11 | % | 980 | 11 | % | ||||||||||||||||||||||||||
| Corporate | 225 | N/A | 54 | N/A | 181 | N/A | |||||||||||||||||||||||||||||
| Total Company | $ | 21,235 | 7 | % | $ | 4,989 | 7 | % | $ | 3,951 | 4 | % | |||||||||||||||||||||||
| Nine Months Ended March 31, 2026 | |||||||||||||||||||||||||||||||||||
| Net Sales | % Change Versus Year Ago | Earnings/(Loss) Before Income Taxes | % Change Versus Year Ago | Net Earnings/(Loss) | % Change Versus Year Ago | ||||||||||||||||||||||||||||||
| Beauty | $ | 12,048 | 7 | % | $ | 2,885 | 5 | % | $ | 2,222 | 3 | % | |||||||||||||||||||||||
| Grooming | 5,219 | 5 | % | 1,552 | 4 | % | 1,212 | — | % | ||||||||||||||||||||||||||
| Health Care | 9,699 | 5 | % | 2,714 | 2 | % | 2,067 | — | % | ||||||||||||||||||||||||||
| Fabric & Home Care | 22,882 | 3 | % | 5,692 | — | % | 4,400 | (2) | % | ||||||||||||||||||||||||||
| Baby, Feminine & Family Care | 15,352 | 1 | % | 4,066 | 2 | % | 3,105 | 1 | % | ||||||||||||||||||||||||||
| Corporate | 627 | N/A | (466) | N/A | 57 | N/A | |||||||||||||||||||||||||||||
| Total Company | $ | 65,828 | 4 | % | $ | 16,444 | 5 | % | $ | 13,063 | 5 | % | |||||||||||||||||||||||
| Three Months Ended March 31, 2026 | Net Sales Growth | Foreign Exchange Impact | Acquisition & Divestiture Impact/Other (1) | Organic Sales Growth | |||||||||||||||||||
| Beauty | 11 | % | (4) | % | — | % | 7 | % | |||||||||||||||
| Grooming | 7 | % | (6) | % | — | % | 1 | % | |||||||||||||||
| Health Care | 7 | % | (5) | % | — | % | 2 | % | |||||||||||||||
| Fabric & Home Care | 7 | % | (4) | % | — | % | 3 | % | |||||||||||||||
| Baby, Feminine & Family Care | 6 | % | (3) | % | — | % | 3 | % | |||||||||||||||
| Total Company | 7 | % | (4) | % | — | % | 3 | % | |||||||||||||||
(1)Acquisition & Divestiture Impact/Other includes the volume and mix impact of acquisitions and divestitures and rounding impacts necessary to reconcile net sales to organic sales. | |||||||||||||||||||||||
| Nine Months Ended March 31, 2026 | Net Sales Growth | Foreign Exchange Impact | Acquisition & Divestiture Impact/Other (1) | Organic Sales Growth | |||||||||||||||||||
| Beauty | 7 | % | (2) | % | — | % | 5 | % | |||||||||||||||
| Grooming | 5 | % | (4) | % | — | % | 1 | % | |||||||||||||||
| Health Care | 5 | % | (3) | % | — | % | 2 | % | |||||||||||||||
| Fabric & Home Care | 3 | % | (2) | % | — | % | 1 | % | |||||||||||||||
| Baby, Feminine & Family Care | 1 | % | (2) | % | 1 | % | — | % | |||||||||||||||
| Total Company | 4 | % | (2) | % | — | % | 2 | % | |||||||||||||||
(1)Acquisition & Divestiture Impact/Other includes the volume and mix impact of acquisitions and divestitures and rounding impacts necessary to reconcile net sales to organic sales. | |||||||||||||||||||||||
| Nine Months Ended March 31, 2026 | ||||||||||||||||||||
| Operating Cash Flow | Capital Spending | 2017 U.S. Tax Act Payments | Adjusted Free Cash Flow | |||||||||||||||||
| $ | 14,425 | $ | (3,386) | $ | 688 | $ | 11,727 | |||||||||||||
| Nine Months Ended March 31, 2026 | ||||||||||||||||||||||||||
| Adjusted Free Cash Flow | Net Earnings | Adjustments to Net Earnings (1) | Net Earnings as Adjusted | Adjusted Free Cash Flow Productivity | ||||||||||||||||||||||
| $ | 11,727 | $ | 13,063 | $ | (261) | $ | 12,802 | 92 | % | |||||||||||||||||
(1) Adjustments to Net earnings relate to the gain from the dissolution of the Glad joint venture business. | ||||||||||||||||||||||||||
| THE PROCTER & GAMBLE COMPANY AND SUBSIDIARIES Reconciliation of Non-GAAP Measures | ||||||||||||||||||||||||||||||||
| Three Months Ended March 31, 2026 | Three Months Ended March 31, 2025 | |||||||||||||||||||||||||||||||
| Amounts in millions except per share amounts | As Reported (GAAP) | Incremental Restructuring | Glad Joint Venture Agreement | Core (Non-GAAP) | As Reported (GAAP) (1) | |||||||||||||||||||||||||||
| Cost of products sold | $ | 10,722 | $ | (115) | $ | — | $ | 10,606 | $ | 9,694 | ||||||||||||||||||||||
| Selling, general and administrative expense | 5,936 | (28) | — | 5,908 | 5,524 | |||||||||||||||||||||||||||
| Operating income | 4,576 | 144 | — | 4,720 | 4,558 | |||||||||||||||||||||||||||
| Other non-operating income/(expense), net | 537 | — | (343) | 194 | 210 | |||||||||||||||||||||||||||
| Income taxes | 1,039 | (23) | (81) | 934 | 868 | |||||||||||||||||||||||||||
| Net earnings | 3,951 | 167 | (261) | 3,856 | 3,793 | |||||||||||||||||||||||||||
| Less: Net earnings attributable to noncontrolling interests | 18 | 5 | — | 23 | 23 | |||||||||||||||||||||||||||
| Net earnings attributable to P&G | 3,932 | 162 | (261) | 3,833 | 3,769 | |||||||||||||||||||||||||||
| Core EPS | ||||||||||||||||||||||||||||||||
Diluted net earnings per common share (2) | $ | 1.63 | $ | 0.07 | $ | (0.11) | $ | 1.59 | $ | 1.54 | ||||||||||||||||||||||
(1)For the three months ended March 31, 2025, there were no adjustments to or reconciling items for Core EPS. (2)Diluted net earnings per common share are calculated on Net earnings attributable to Procter & Gamble. | ||||||||||||||||||||||||||||||||
| CHANGE VERSUS YEAR AGO | ||||||||||||||||||||||||||||||||
| Net earnings attributable to P&G | 4 | % | ||||||||||||||||||||||||||||||
| Core net earnings attributable to P&G | 2 | % | ||||||||||||||||||||||||||||||
| Diluted net earnings per common share | 6 | % | ||||||||||||||||||||||||||||||
| Core EPS | 3 | % | ||||||||||||||||||||||||||||||
| THE PROCTER & GAMBLE COMPANY AND SUBSIDIARIES Reconciliation of Non-GAAP Measures | ||||||||||||||||||||||||||
| Nine Months Ended March 31, 2026 | ||||||||||||||||||||||||||
| Amounts in millions except per share amounts | As Reported (GAAP) | Incremental Restructuring | Glad Joint Venture Agreement | Core (Non-GAAP) | ||||||||||||||||||||||
| Cost of products sold | $ | 32,442 | $ | (306) | $ | — | $ | 32,136 | ||||||||||||||||||
| Selling, general and administrative expense | 17,588 | (249) | — | 17,338 | ||||||||||||||||||||||
| Operating income | 15,798 | 556 | — | 16,354 | ||||||||||||||||||||||
| Other non-operating income/(expense), net | 964 | 31 | (343) | 652 | ||||||||||||||||||||||
| Income taxes | 3,381 | 59 | (81) | 3,359 | ||||||||||||||||||||||
| Net earnings | 13,063 | 527 | (261) | 13,329 | ||||||||||||||||||||||
| Less: Net earnings attributable to noncontrolling interests | 60 | 20 | — | 80 | ||||||||||||||||||||||
| Net earnings attributable to P&G | 13,002 | 507 | (261) | 13,248 | ||||||||||||||||||||||
| Core EPS | ||||||||||||||||||||||||||
Diluted net earnings per common share (1) | $ | 5.36 | $ | 0.21 | $ | (0.11) | $ | 5.46 | ||||||||||||||||||
(1)Diluted net earnings per common share are calculated on Net earnings attributable to Procter & Gamble. | ||||||||||||||||||||||||||
| CHANGE VERSUS YEAR AGO | ||||||||||||||||||||||||||
| Net earnings attributable to P&G | 5 | % | ||||||||||||||||||||||||
| Core net earnings attributable to P&G | 1 | % | ||||||||||||||||||||||||
| Diluted net earnings per common share | 7 | % | ||||||||||||||||||||||||
| Core EPS | 2 | % | ||||||||||||||||||||||||
| THE PROCTER & GAMBLE COMPANY AND SUBSIDIARIES Reconciliation of Non-GAAP Measures | ||||||||||||||||||||
| Nine Months Ended March 31, 2025 | ||||||||||||||||||||
| Amounts in millions except per share amounts | As Reported (GAAP) | Incremental Restructuring | Core (Non-GAAP) | |||||||||||||||||
| Cost of products sold | $ | 30,533 | $ | 20 | $ | 30,554 | ||||||||||||||
| Selling, general and administrative expense | 16,765 | (25) | 16,740 | |||||||||||||||||
| Operating income | 16,096 | 5 | 16,101 | |||||||||||||||||
| Other non-operating income/(expense), net | (120) | 789 | 669 | |||||||||||||||||
| Income taxes | 3,207 | (7) | 3,199 | |||||||||||||||||
| Net earnings attributable to P&G | 12,359 | 801 | 13,160 | |||||||||||||||||
| Core EPS | ||||||||||||||||||||
Diluted net earnings per common share (1) | $ | 5.03 | $ | 0.33 | $ | 5.35 | ||||||||||||||
(1)Diluted net earnings per common share are calculated on Net earnings attributable to Procter & Gamble. | ||||||||||||||||||||
| Item 3. | Quantitative and Qualitative Disclosures About Market Risk | ||||
| Item 4. | Controls and Procedures | ||||
| Item 1. | Legal Proceedings | ||||
| Item 1A. | Risk Factors | ||||
| Item 2. | Unregistered Sales of Equity Securities, Use of Proceeds and Issuer Purchases of Equity Securities | ||||
| 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 | |||||||||||||||||||
| 1/01/2026 - 1/31/2026 | — | — | — | (3) | |||||||||||||||||||
| 2/01/2026 - 2/28/2026 | 3,911,417 | $ | 159.79 | 3,911,417 | (3) | ||||||||||||||||||
| 3/01/2026 - 3/31/2026 | — | — | — | (3) | |||||||||||||||||||
| Total | 3,911,417 | $159.79 | 3,911,417 | (3) | |||||||||||||||||||
| Item 5. | Other Information | ||||
| Item 6. | Exhibits | ||||
101.SCH (1) | Inline XBRL Taxonomy Extension Schema Document | |||||||
101.CAL (1) | Inline XBRL Taxonomy Extension Calculation Linkbase Document | |||||||
101.DEF (1) | Inline XBRL Taxonomy Definition Linkbase Document | |||||||
101.LAB (1) | Inline XBRL Taxonomy Extension Label Linkbase Document | |||||||
101.PRE (1) | Inline XBRL Taxonomy Extension Presentation Linkbase Document | |||||||
| 104 | Cover Page Interactive Data File (formatted in Inline XBRL and contained in Exhibit 101) | |||||||
| + | Filed herewith | ||||
(1) | Pursuant to Rule 406T of Regulation S-T, this information is furnished and not filed for purposes of Sections 11 or 12 of the Securities Act of 1933 and Section 18 of the Securities Exchange Act of 1934, and otherwise is not subject to liability under these sections. | ||||
| THE PROCTER & GAMBLE COMPANY | ||||||||||||||
| April 24, 2026 | /s/ MATTHEW W. JANZARUK | |||||||||||||
| Date | (Matthew W. Janzaruk) | |||||||||||||
| Senior Vice President - Chief Accounting Officer (Principal Accounting Officer) | ||||||||||||||
| /s/ SHAILESH JEJURIKAR | ||
| (Shailesh Jejurikar) | ||
| President and Chief Executive Officer | ||
| April 24, 2026 | ||
| Date | ||
| /s/ ANDRE SCHULTEN | ||
| (Andre Schulten) | ||
| Chief Financial Officer | ||
| April 24, 2026 | ||
| Date | ||
| /s/ SHAILESH JEJURIKAR | ||
| (Shailesh Jejurikar) | ||
| President and Chief Executive Officer | ||
| April 24, 2026 | ||
| Date | ||
| /s/ ANDRE SCHULTEN | ||
| (Andre Schulten) | ||
| Chief Financial Officer | ||
| April 24, 2026 | ||
| Date | ||
Consolidated Statements of Earnings - USD ($) $ in Millions |
3 Months Ended | 9 Months Ended | ||||
|---|---|---|---|---|---|---|
Mar. 31, 2026 |
Mar. 31, 2025 |
Mar. 31, 2026 |
Mar. 31, 2025 |
|||
| Income Statement [Abstract] | ||||||
| NET SALES | $ 21,235 | $ 19,776 | $ 65,828 | $ 63,395 | ||
| Cost of products sold | 10,722 | 9,694 | 32,442 | 30,533 | ||
| Selling, general and administrative expense | 5,936 | 5,524 | 17,588 | 16,765 | ||
| OPERATING INCOME | 4,576 | 4,558 | 15,798 | 16,096 | ||
| Interest expense | (223) | (217) | (641) | (695) | ||
| Interest income | 100 | 111 | 322 | 365 | ||
| Other non-operating income/(expense), net | 537 | 210 | 964 | (120) | ||
| EARNINGS BEFORE INCOME TAXES | 4,989 | 4,661 | 16,444 | 15,646 | ||
| Income taxes | 1,039 | 868 | 3,381 | 3,207 | ||
| NET EARNINGS | 3,951 | 3,793 | 13,063 | 12,439 | ||
| Less: Net earnings attributable to noncontrolling interests | 18 | 23 | 60 | 80 | ||
| NET EARNINGS ATTRIBUTABLE TO PROCTER & GAMBLE | $ 3,932 | $ 3,769 | $ 13,002 | $ 12,359 | ||
| NET EARNINGS PER COMMON SHARE | ||||||
| Basic (in dollars per share) | [1] | $ 1.66 | $ 1.58 | $ 5.47 | $ 5.16 | |
| Diluted (in dollars per share) | [1] | $ 1.63 | $ 1.54 | $ 5.36 | $ 5.03 | |
| ||||||
Consolidated Statements of Comprehensive Income - USD ($) $ in Millions |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Mar. 31, 2026 |
Mar. 31, 2025 |
Mar. 31, 2026 |
Mar. 31, 2025 |
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| Statement of Comprehensive Income [Abstract] | ||||
| NET EARNINGS | $ 3,951 | $ 3,793 | $ 13,063 | $ 12,439 |
| OTHER COMPREHENSIVE INCOME/(LOSS), NET OF TAX | ||||
| Foreign currency translation | (211) | 367 | (186) | 623 |
| Unrealized gains/(losses) on investment securities | 1 | 2 | 1 | 3 |
| Unrealized gains/(losses) on defined benefit postretirement plans | 13 | (39) | 14 | (37) |
| TOTAL OTHER COMPREHENSIVE INCOME/(LOSS), NET OF TAX | (198) | 330 | (171) | 590 |
| TOTAL COMPREHENSIVE INCOME | 3,753 | 4,123 | 12,892 | 13,029 |
| Less: Comprehensive income attributable to noncontrolling interests | 11 | 24 | 45 | 78 |
| TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO PROCTER & GAMBLE | $ 3,742 | $ 4,099 | $ 12,847 | $ 12,951 |
Consolidated Balance Sheets (Parenthetical) - shares shares in Millions |
Mar. 31, 2026 |
Jun. 30, 2025 |
|---|---|---|
| Statement of Financial Position [Abstract] | ||
| Common stock, issued (in shares) | 4,009.2 | 4,009.2 |
Consolidated Statements of Shareholders' Equity (Parenthetical) - $ / shares |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Mar. 31, 2026 |
Mar. 31, 2025 |
Mar. 31, 2026 |
Mar. 31, 2025 |
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| Statement of Stockholders' Equity [Abstract] | ||||
| Dividends and dividend equivalents, common stock (in dollars per share) | $ 1.0568 | $ 1.0065 | $ 3.1704 | $ 3.0195 |
| Dividends and dividend equivalents, preferred stock (in dollars per share) | $ 1.0568 | $ 1.0065 | $ 3.1704 | $ 3.0195 |
Basis of Presentation |
9 Months Ended |
|---|---|
Mar. 31, 2026 | |
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
| Basis of Presentation | 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, 2025. 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.
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New Accounting Pronouncements and Policies |
9 Months Ended |
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Mar. 31, 2026 | |
| Accounting Policies [Abstract] | |
| New Accounting Pronouncements and Policies | New Accounting Pronouncements and Policies In December 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (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. This guidance will require additional disclosures in the Income Tax footnote but will not have a material impact on our Consolidated Financial Statements. In November 2024, the FASB issued ASU No. 2024-03, “Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures: Disaggregation of Income Statement Expenses”. This guidance requires disclosures about significant expense categories, including but not limited to, inventory purchases, employee compensation, depreciation, amortization and selling expenses. This amendment is effective for our fiscal year ending June 30, 2028, and our interim periods within the fiscal year ending June 30, 2029. We are currently assessing the impact of this guidance on our disclosures. In September 2025, the FASB issued ASU No. 2025-06, “Intangibles—Goodwill and Other—Internal-Use Software: Targeted Improvements to the Accounting for Internal-Use Software”. This guidance amends the accounting for and disclosure of software costs. This amendment is effective for our fiscal year ending June 30, 2029, and the interim periods within that fiscal year. We are currently assessing the impact of this guidance on our Consolidated Financial Statements. In December 2025, the FASB issued ASU No. 2025-10, “Accounting for Government Grants Received by Business Entities”. This amendment provides guidance on the recognition, measurement and presentation of government grants. This amendment is effective for our fiscal year ending June 30, 2030, and the interim periods within that fiscal year. We are currently assessing the impact of this guidance on our Consolidated Financial Statements. No other new accounting pronouncement issued or effective during the fiscal year had, or is expected to have, a material impact on our Consolidated Financial Statements.
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| Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Segment Information | Segment Information Under U.S. GAAP, our operating segments are aggregated into five reportable segments: 1) Beauty, 2) Grooming, 3) Health Care, 4) Fabric & Home Care and 5) Baby, Feminine & Family Care. Our five reportable segments are comprised of: •Beauty: Hair Care (Conditioners, Shampoos, Styling Aids, Treatments); Personal Care (Antiperspirants and Deodorants, Personal Cleansing); Skin Care (Facial Moisturizers, Cleaners and Treatments); •Grooming: Grooming (Appliances, Female Blades & Razors, Male Blades & Razors, Pre- and Post-Shave Products, Other Grooming); •Health Care: Oral Care (Toothbrushes, Toothpastes, Other Oral Care); Personal Health Care (Gastrointestinal, Pain Relief, Rapid Diagnostics, Respiratory, Vitamins/Minerals/Supplements, Other Personal Health Care); •Fabric & Home Care: Fabric Care (Fabric Enhancers, Laundry Additives, Laundry Detergents); Home Care (Air Care, Dish Care, P&G Professional, Surface Care); and •Baby, Feminine & Family Care: Baby Care (Baby Wipes, Taped Diapers and Pants); Feminine Care (Adult Incontinence, Menstrual Care); Family Care (Paper Towels, Tissues, Toilet Paper). Operating segments as a percentage of consolidated net sales are as follows:
(1)% of Net sales by operating segment excludes sales recorded in Corporate. The following is a summary of reportable segment results:
(1)Other segment items for each reportable segment includes interest expense, interest income and certain other non-operating income/(expense). Corporate includes non-operating income comprised primarily of a $343 gain due to the dissolution of the Glad joint venture business.
(1)Other segment items for each reportable segment includes interest expense, interest income and certain other non-operating income/(expense).
(1)Other segment items for each reportable segment includes interest expense, interest income and certain other non-operating income/(expense). Corporate includes non-operating income comprised primarily of a $343 gain due to the dissolution of the Glad joint venture business.
(1)Other segment items for each reportable segment includes interest expense, interest income and certain other non-operating income/(expense). Corporate includes non-operating losses comprised primarily of a non-cash charge of $752 for accumulated foreign currency translation losses due to the substantial liquidation of operations in Argentina. The Chief Operating Decision Maker (CODM) does not use assets by segment to evaluate performance or allocate resources. Therefore, we do not disclose assets by segment.
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Goodwill and Intangible Assets |
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| Goodwill and Intangible Assets | Goodwill and Intangible Assets Goodwill is allocated by reportable segment as follows:
Goodwill decreased from June 30, 2025, primarily due to currency translation, partially offset by a minor acquisition within Health Care. Identifiable intangible assets at March 31, 2026, were comprised of:
Intangible assets with determinable lives consist of brands, patents, technology and customer relationships. The intangible assets with indefinite lives primarily consist of brands. The amortization expense of determinable-lived intangible assets for the three months ended March 31, 2026 and 2025, was $76 and $78, respectively. For the nine months ended March 31, 2026 and 2025, amortization expense was $232 and $241, respectively. Goodwill and indefinite-lived intangible assets are not amortized but are tested at least annually for impairment. We use the income method to estimate the fair value of these assets, which is based on forecasts of the expected future cash flows attributable to the respective assets. When appropriate, the market approach, which leverages comparable company revenue and earnings multiples, is weighted with the income approach to estimate fair value. If the resulting fair value is less than the asset's carrying value, that difference represents an impairment. Our annual impairment testing for goodwill and indefinite-lived intangible assets occurs during the three months ended December 31. Other than our Gillette indefinite-lived intangible asset, our goodwill reporting units and indefinite-lived intangible assets have fair values that significantly exceed their underlying carrying values. Based on our impairment testing performed during the three months ended December 31, 2025, the Gillette indefinite-lived intangible asset's fair value exceeds its carrying value by greater than 10%. As of March 31, 2026, the carrying value of the Gillette indefinite-lived intangible asset was $12.8 billion. While we have concluded that no triggering event has occurred during the quarter ended March 31, 2026, the Gillette indefinite-lived intangible asset is susceptible to impairment risk. Adverse changes in the business or in the macroeconomic environment, including foreign currency devaluation, increasing global inflation or market contraction from an economic recession, could reduce the underlying cash flows used to estimate the fair value of the Gillette indefinite-lived intangible asset and trigger an impairment charge. The most significant assumptions utilized in the determination of the estimated fair value of the Gillette indefinite-lived intangible asset are the net sales growth rates (including residual growth rate), discount rate and royalty rate. Net sales growth rates could be negatively impacted by reductions or changes in demand for our Gillette products, which may be caused by, among other things: changes in the use and frequency of grooming products, shifts in demand away from one or more of our higher priced products to lower priced products or potential supply chain constraints. In addition, relative global and country/regional macroeconomic factors could result in additional and prolonged devaluation of other countries' currencies relative to the U.S. dollar. The residual growth rate represents the expected rate at which the Gillette brand is expected to grow beyond the shorter-term business planning period. The residual growth rate utilized in our fair value estimates is consistent with the brand operating plans and approximates expected long-term category market growth rates. The residual growth rate depends on overall market growth rates, the competitive environment, inflation, relative currency exchange rates and business activities that impact market share. As a result, the residual growth rate could be adversely impacted by a sustained deceleration in category growth, grooming habit changes, devaluation of currencies against the U.S. dollar or an increased competitive environment. The discount rate is based on a weighted average cost of capital that is likely to be expected by a market participant, including consideration of both debt and equity components of the capital structure. Our discount rate may be impacted by adverse changes in the macroeconomic environment, volatility in the equity and debt markets or other country specific factors, such as further devaluation of currencies against the U.S. dollar. Spot rates as of the fair value measurement date are utilized in our fair value estimates for cash flows outside the U.S. The royalty rate used to determine the estimated fair value for the Gillette indefinite-lived intangible asset is driven by historical and estimated future profitability of the underlying Gillette business. The royalty rate may be impacted by significant adverse changes in long-term operating margins. We performed a sensitivity analysis for the Gillette indefinite-lived intangible asset as part of our annual impairment testing during the three months ended December 31, 2025, utilizing reasonably possible changes in the assumptions for the discount rate, the short-term and residual growth rates and the royalty rate to demonstrate the potential impacts to estimated fair values. The table below provides, in isolation, the estimated fair value impacts related to a 25 basis-point increase in the discount rate, a 25 basis-point decrease in our short-term and residual growth rates or a 50 basis-point decrease in our royalty rate.
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| Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Earnings Per Share | Earnings Per Share Basic net earnings per common share are calculated by dividing Net earnings attributable to Procter & Gamble less preferred dividends by the weighted average number of common shares outstanding during the period. Diluted net earnings per common share are calculated by dividing Net earnings attributable to Procter & Gamble by the diluted weighted average number of common shares outstanding during the period. The diluted shares include the dilutive effect of stock options and other share-based awards based on the treasury stock method and the assumed conversion of preferred stock. Net earnings per common share were calculated as follows:
(1)For the three months ended March 31, 2026 and 2025, the weighted average of stock options that were antidilutive and not included in the diluted net earnings per share calculation were 22 million and 8 million, respectively. For the nine months ended March 31, 2026 and 2025, the weighted average of stock options that were antidilutive and not included in the diluted net earnings per share calculation were 20 million and 6 million, respectively. (2)An overview of preferred shares can be found in our Annual Report on Form 10-K for the fiscal year ended June 30, 2025.
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Share-Based Compensation and Postretirement Benefits |
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| Retirement Benefits [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Share-Based Compensation and Postretirement Benefits | Share-Based Compensation and Postretirement Benefits The following table provides a summary of our share-based compensation expense and postretirement benefit impacts:
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Risk Management Activities and Fair Value Measurements |
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| Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Risk Management Activities and Fair Value Measurements | Risk Management Activities and Fair Value Measurements As a multinational company with diverse product offerings, we are exposed to market risks, such as changes in interest rates, currency exchange rates and commodity prices. There have been no significant changes in our risk management policies or activities during the nine months ended March 31, 2026. The Company has not changed its valuation techniques used in measuring the fair value of any financial assets and liabilities during the period. The Company recognizes transfers between levels within the fair value hierarchy, if any, at the end of each quarter. There were no transfers between levels during the periods presented. Also, there was no significant activity within the Level 3 assets and liabilities during the periods presented. There were no significant assets or liabilities that were re-measured at fair value on a non-recurring basis during the periods presented. Cash equivalents were $11.1 billion and $8.3 billion as of March 31, 2026 and June 30, 2025, respectively, and are classified as Level 1 within the fair value hierarchy. The Company had no other material investments in debt or equity securities during the periods presented. The fair value of long-term debt was $29.4 billion and $29.5 billion as of March 31, 2026 and June 30, 2025, respectively. This includes the current portion of long-term debt instruments ($6.5 billion and $5.3 billion as of March 31, 2026 and June 30, 2025, respectively). Certain long-term debt (debt designated as a fair value hedge) is recorded at fair value. All other long-term debt is recorded at amortized cost but is measured at fair value for disclosure purposes. We consider our debt to be Level 2 in the fair value hierarchy. Fair values are generally estimated based on quoted market prices for identical or similar instruments. Disclosures about Financial Instruments The notional amounts and fair values of financial instruments used in hedging transactions as of March 31, 2026 and June 30, 2025, are as follows:
The fair value of the interest rate derivative asset/(liability) directly offsets the cumulative amount of the fair value hedging adjustment included in the carrying amount of the underlying debt obligation. The carrying amount of the underlying debt obligation, which includes the unamortized discount or premium and the fair value adjustment, was $5.0 billion and $3.1 billion as of March 31, 2026 and June 30, 2025, respectively. In addition to the foreign currency derivative contracts designated as net investment hedges, certain of our foreign currency denominated debt instruments are designated as net investment hedges. The carrying value of those debt instruments designated as net investment hedges, which includes the adjustment for the foreign currency transaction gain or loss on those instruments, was $12.1 billion and $11.2 billion as of March 31, 2026 and June 30, 2025, respectively. The increase in the notional balance of interest rate contracts designated as fair value hedges is driven by debt portfolio rebalancing to meet interest rate risk management objectives. The decrease in the notional balance of derivative instruments designated as net investment hedges was primarily driven by the maturity of certain swaps, consistent with the Company's ongoing management of its hedge portfolio. are presented in Prepaid expenses and other current assets or Other noncurrent assets. are presented in Accrued and other liabilities or Other noncurrent liabilities. Changes in the fair value of net investment hedges are recognized in the Foreign currency translation component of Other comprehensive income (OCI). All of the Company's derivative assets and liabilities measured at fair value are classified as Level 2 within the fair value hierarchy. Certain of the Company's financial instruments used in hedging transactions are governed by industry standard netting and collateral agreements with counterparties. If the Company's credit rating were to fall below the levels stipulated in the agreements, the counterparties could demand either collateralization or termination of the arrangements. The aggregate fair value of the instruments covered by these contractual features that are in a liability position was $477 and $1.1 billion as of March 31, 2026 and June 30, 2025, respectively. The Company has not been required to post collateral as a result of these contractual features. Before tax gains and losses on our financial instruments in hedging relationships are categorized as follows:
(1) For the derivatives in net investment hedging relationships, the amount of gain excluded from effectiveness testing, which was recognized in earnings, was $56 and $60 for the three months ended March 31, 2026 and 2025, respectively. The amount of gain excluded from effectiveness testing was $191 and $167 for the nine months ended March 31, 2026 and 2025, respectively. (2) In addition to the foreign currency derivative contracts designated as net investment hedges, certain of our foreign currency denominated debt instruments are designated as net investment hedges. The amount of gain/(loss) recognized in Accumulated other comprehensive income (AOCI) for such instruments was $279 and $(436) for the three months ended March 31, 2026 and 2025, respectively. The amount of gain/(loss) recognized in AOCI for such instruments was $318 and $(221) for the nine months ended March 31, 2026 and 2025, respectively.
The gains/(losses) on the derivatives in fair value hedging relationships are fully offset by the mark-to-market impact of the related exposure. These are both recognized in Interest expense. The gains/(losses) on derivatives not designated as hedging instruments are substantially offset by the currency mark-to-market of the related exposure. These are both recognized in Selling, general and administrative expense (SG&A).
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Accumulated Other Comprehensive Income/(Loss) |
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| Equity [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accumulated Other Comprehensive Income/(Loss) | Accumulated Other Comprehensive Income/(Loss) The table below presents the changes in Accumulated other comprehensive income/(loss) attributable to Procter & Gamble (AOCI), including the reclassifications out of AOCI by component:
Foreign currency translation includes financial statement translation and changes in fair value of net investment hedges (see Note 7). Postretirement benefit plan amounts are reclassified from AOCI into Other non-operating income/(expense), net and included in the computation of net periodic postretirement costs.
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Commitments and Contingencies |
9 Months Ended |
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Mar. 31, 2026 | |
| Commitments and Contingencies Disclosure [Abstract] | |
| Commitments and Contingencies | Commitments and Contingencies Litigation We are subject, from time to time, to certain legal proceedings and claims arising out of our business, which cover a wide range of matters, including antitrust and trade regulation, product liability, advertising, contracts, environmental, patent and trademark matters, labor and employment matters and tax. While considerable uncertainty exists, in the opinion of management and our counsel, the ultimate resolution of the various lawsuits and claims will not materially affect our financial position, results of operations or cash flows. We are also subject to contingencies pursuant to environmental laws and regulations that in the future may require us to take action to correct the effects on the environment of prior manufacturing and waste disposal practices. Based on currently available information, we do not believe the ultimate resolution of environmental remediation will materially affect our financial position, results of operations or cash flows. Income Tax Uncertainties The Company is present in about 70 countries and over 150 taxable jurisdictions and, at any point in time, has 30–40 jurisdictional audits underway at various stages of completion. We evaluate our tax positions and establish liabilities for uncertain tax positions that may be challenged by local authorities and may not be fully sustained, despite our belief that the underlying tax positions are fully supportable. Uncertain tax positions are reviewed on an ongoing basis and are adjusted in light of changing facts and circumstances, including progress of tax audits, developments in case law and closing of statutes of limitations. Such adjustments are reflected in the tax provision as appropriate. We have tax years open ranging from 2013 and forward. We are generally not able to reliably estimate the timing and ultimate settlement amounts until the close of an audit. Based on information currently available, we anticipate over the next 12-month period, audit activity could be completed related to uncertain tax positions in multiple jurisdictions for which we have accrued liabilities of approximately $121, including interest and penalties. Additional information on the Commitments and Contingencies of the Company can be found in our Annual Report on Form 10-K for the fiscal year ended June 30, 2025.
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Supplier Finance Programs |
9 Months Ended |
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Mar. 31, 2026 | |
| Payables and Accruals [Abstract] | |
| Supplier Finance Programs | Supplier Finance Programs The Company has an ongoing program to negotiate extended payment terms with its suppliers consistent with market practices. The Company also supports a Supply Chain Finance program (“SCF”) with several global financial institutions. Under SCF, the Company maintains an accounts payable system to facilitate participating suppliers' ability to sell receivables from the Company to a SCF bank. These participating suppliers negotiate their sales of receivables arrangements directly with the respective SCF bank. The Company is not party to those agreements, but the SCF banks allow the suppliers to utilize the Company’s creditworthiness in establishing credit spreads and associated costs. Under this model, this arrangement generally provides the suppliers with more favorable terms than they would be able to secure on their own. The Company has no economic interest in a supplier’s decision to sell a receivable. Once a qualifying supplier chooses to participate in SCF, the supplier selects which individual Company invoices to sell to the SCF bank. The Company’s obligations to its suppliers, including the amounts due and scheduled payment dates, are not impacted by the supplier’s decisions to finance amounts under these arrangements. The Company does not provide any form of guarantee under these financing arrangements. Our payment terms for suppliers under this program generally range from 60 to 180 days. All outstanding amounts related to suppliers participating in SCF are recorded within Accounts payable in our Consolidated Balance Sheets, and the associated payments are included in operating activities within our Consolidated Statements of Cash Flows. The amount due to suppliers participating in SCF and included in was approximately $5.7 billion as of March 31, 2026 and $5.8 billion as of June 30, 2025.
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Restructuring Program |
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| Restructuring and Related Activities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Restructuring Program | Restructuring Program The Company has historically incurred an ongoing annual level of restructuring-type activities to maintain a competitive cost structure, including manufacturing and workforce optimization. Before tax costs incurred under the ongoing program have generally ranged from $250 to $500 annually. Consistent with our historical policies for restructuring-type activities, the restructuring program charges will be funded by and included within Corporate for management and segment reporting. In June 2025, the Company announced a portfolio and productivity plan to streamline its portfolio and organization to improve its cost structure and competitiveness. The Company expects to incur approximately $1.5 to $2.0 billion in before-tax restructuring costs over two years. The Company expects to incur over half of the costs under this plan by the end of fiscal 2026, with the remainder incurred in fiscal 2027. The restructuring activities will be executed across the Sector Business Units as well as the Enterprise Markets, Corporate Functions and Global Business Services. These restructuring activities include a plan for a reduction of up to 7,000 non-manufacturing overhead personnel by the end of fiscal 2027. In addition, the plan includes brand and market exits as well as the optimization of the supply chain and other manufacturing processes. Costs incurred under the plan will consist primarily of costs to separate employees and asset-related costs to exit facilities. The Company will also incur other types of costs outlined below as a direct result of the plan. For the three months ended March 31, 2026, the Company incurred total before tax charges of $198 including $138 in Costs of products sold, $53 in SG&A and $6 in Other non-operating income/(expense), net. For the nine months ended March 31, 2026, the Company incurred charges of $782 including $418 in Costs of products sold, $330 in SG&A and $33 in Other non-operating income/(expense), net. The following table presents restructuring activity for the nine months ended March 31, 2026:
Separation Costs Employee separation costs relate to severance packages that are primarily voluntary and the amounts calculated are based on salary levels and past service periods. Asset-Related Costs Asset-related costs consist of both asset write-downs and accelerated depreciation for manufacturing consolidations. Asset write-downs relate to the establishment of a new fair value basis for assets held-for-sale or for disposal. These assets are written down to the lower of their current carrying basis or amounts expected to be realized upon disposal, less minor disposal costs. Charges for accelerated depreciation relate to long-lived assets that will be taken out of service prior to the end of their normal service period. Other Costs Other restructuring-type charges are incurred as a direct result of the restructuring plan. Such charges include asset removal and termination of contracts related to supply chain redesign.
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Insider Trading Arrangements |
3 Months Ended |
|---|---|
Mar. 31, 2026 | |
| Trading Arrangements, by Individual | |
| Rule 10b5-1 Arrangement Adopted | false |
| Non-Rule 10b5-1 Arrangement Adopted | false |
| Rule 10b5-1 Arrangement Terminated | false |
| Non-Rule 10b5-1 Arrangement Terminated | false |
New Accounting Pronouncements and Policies (Policies) |
9 Months Ended |
|---|---|
Mar. 31, 2026 | |
| Accounting Policies [Abstract] | |
| New Accounting Pronouncements and Policies | New Accounting Pronouncements and Policies In December 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (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. This guidance will require additional disclosures in the Income Tax footnote but will not have a material impact on our Consolidated Financial Statements. In November 2024, the FASB issued ASU No. 2024-03, “Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures: Disaggregation of Income Statement Expenses”. This guidance requires disclosures about significant expense categories, including but not limited to, inventory purchases, employee compensation, depreciation, amortization and selling expenses. This amendment is effective for our fiscal year ending June 30, 2028, and our interim periods within the fiscal year ending June 30, 2029. We are currently assessing the impact of this guidance on our disclosures. In September 2025, the FASB issued ASU No. 2025-06, “Intangibles—Goodwill and Other—Internal-Use Software: Targeted Improvements to the Accounting for Internal-Use Software”. This guidance amends the accounting for and disclosure of software costs. This amendment is effective for our fiscal year ending June 30, 2029, and the interim periods within that fiscal year. We are currently assessing the impact of this guidance on our Consolidated Financial Statements. In December 2025, the FASB issued ASU No. 2025-10, “Accounting for Government Grants Received by Business Entities”. This amendment provides guidance on the recognition, measurement and presentation of government grants. This amendment is effective for our fiscal year ending June 30, 2030, and the interim periods within that fiscal year. We are currently assessing the impact of this guidance on our Consolidated Financial Statements. No other new accounting pronouncement issued or effective during the fiscal year had, or is expected to have, a material impact on our Consolidated Financial Statements.
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Segment Information (Tables) |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Segment Reporting Information, by Segment | Operating segments as a percentage of consolidated net sales are as follows:
(1)% of Net sales by operating segment excludes sales recorded in Corporate. The following is a summary of reportable segment results:
(1)Other segment items for each reportable segment includes interest expense, interest income and certain other non-operating income/(expense). Corporate includes non-operating income comprised primarily of a $343 gain due to the dissolution of the Glad joint venture business.
(1)Other segment items for each reportable segment includes interest expense, interest income and certain other non-operating income/(expense).
(1)Other segment items for each reportable segment includes interest expense, interest income and certain other non-operating income/(expense). Corporate includes non-operating income comprised primarily of a $343 gain due to the dissolution of the Glad joint venture business.
(1)Other segment items for each reportable segment includes interest expense, interest income and certain other non-operating income/(expense). Corporate includes non-operating losses comprised primarily of a non-cash charge of $752 for accumulated foreign currency translation losses due to the substantial liquidation of operations in Argentina.
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Goodwill and Intangible Assets (Tables) |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Goodwill | Goodwill is allocated by reportable segment as follows:
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| Schedule of Finite-Lived Intangible Assets | Identifiable intangible assets at March 31, 2026, were comprised of:
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| Schedule of Indefinite-Lived Intangible Assets | Identifiable intangible assets at March 31, 2026, were comprised of:
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| Schedule of Potential Impacts to Estimated Fair Values | The table below provides, in isolation, the estimated fair value impacts related to a 25 basis-point increase in the discount rate, a 25 basis-point decrease in our short-term and residual growth rates or a 50 basis-point decrease in our royalty rate.
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Earnings Per Share (Tables) |
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| Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Earnings Per Share, Basic and Diluted | Net earnings per common share were calculated as follows:
(1)For the three months ended March 31, 2026 and 2025, the weighted average of stock options that were antidilutive and not included in the diluted net earnings per share calculation were 22 million and 8 million, respectively. For the nine months ended March 31, 2026 and 2025, the weighted average of stock options that were antidilutive and not included in the diluted net earnings per share calculation were 20 million and 6 million, respectively. (2)An overview of preferred shares can be found in our Annual Report on Form 10-K for the fiscal year ended June 30, 2025.
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Share-Based Compensation and Postretirement Benefits (Tables) |
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Mar. 31, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Retirement Benefits [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule Of Compensation and Employee Benefit Plans | The following table provides a summary of our share-based compensation expense and postretirement benefit impacts:
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Risk Management Activities and Fair Value Measurements (Tables) |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Derivative Instruments | The notional amounts and fair values of financial instruments used in hedging transactions as of March 31, 2026 and June 30, 2025, are as follows:
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| Schedule of Net Investment Hedges in Accumulated Other Comprehensive Income (Loss) | Before tax gains and losses on our financial instruments in hedging relationships are categorized as follows:
(1) For the derivatives in net investment hedging relationships, the amount of gain excluded from effectiveness testing, which was recognized in earnings, was $56 and $60 for the three months ended March 31, 2026 and 2025, respectively. The amount of gain excluded from effectiveness testing was $191 and $167 for the nine months ended March 31, 2026 and 2025, respectively. (2) In addition to the foreign currency derivative contracts designated as net investment hedges, certain of our foreign currency denominated debt instruments are designated as net investment hedges. The amount of gain/(loss) recognized in Accumulated other comprehensive income (AOCI) for such instruments was $279 and $(436) for the three months ended March 31, 2026 and 2025, respectively. The amount of gain/(loss) recognized in AOCI for such instruments was $318 and $(221) for the nine months ended March 31, 2026 and 2025, respectively.
|
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| Schedule Of Derivative Instruments, Gain (Loss) |
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Accumulated Other Comprehensive Income/(Loss) (Tables) |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Equity [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Accumulated Other Comprehensive Income (Loss) | The table below presents the changes in Accumulated other comprehensive income/(loss) attributable to Procter & Gamble (AOCI), including the reclassifications out of AOCI by component:
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Restructuring Program (Tables) |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Restructuring and Related Activities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Restructuring Reserve by Type of Cost | The following table presents restructuring activity for the nine months ended March 31, 2026:
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Segment Information - Additional Information (Details) |
9 Months Ended |
|---|---|
|
Mar. 31, 2026
segment
| |
| Segment Reporting [Abstract] | |
| Number of reportable segments | 5 |
Segment Information - Percent Of Sales By Business Unit (Details) - Revenue Benchmark - Product Concentration Risk - Operating Segments |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Mar. 31, 2026 |
Mar. 31, 2025 |
Mar. 31, 2026 |
Mar. 31, 2025 |
|
| Segment Reporting Information [Line Items] | ||||
| Concentration risk (in percent) | 100.00% | 100.00% | 100.00% | 100.00% |
| Fabric & Home Care | Fabric Care | ||||
| Segment Reporting Information [Line Items] | ||||
| Concentration risk (in percent) | 23.00% | 23.00% | 23.00% | 23.00% |
| Fabric & Home Care | Home Care | ||||
| Segment Reporting Information [Line Items] | ||||
| Concentration risk (in percent) | 12.00% | 12.00% | 12.00% | 12.00% |
| Baby, Feminine & Family Care | Baby Care | ||||
| Segment Reporting Information [Line Items] | ||||
| Concentration risk (in percent) | 9.00% | 9.00% | 9.00% | 9.00% |
| Baby, Feminine & Family Care | Family Care | ||||
| Segment Reporting Information [Line Items] | ||||
| Concentration risk (in percent) | 9.00% | 9.00% | 8.00% | 9.00% |
| Baby, Feminine & Family Care | Feminine Care | ||||
| Segment Reporting Information [Line Items] | ||||
| Concentration risk (in percent) | 6.00% | 6.00% | 7.00% | 6.00% |
| Beauty | Hair Care | ||||
| Segment Reporting Information [Line Items] | ||||
| Concentration risk (in percent) | 9.00% | 9.00% | 9.00% | 9.00% |
| Beauty | Personal Care | ||||
| Segment Reporting Information [Line Items] | ||||
| Concentration risk (in percent) | 6.00% | 6.00% | 6.00% | 6.00% |
| Beauty | Skin Care | ||||
| Segment Reporting Information [Line Items] | ||||
| Concentration risk (in percent) | 3.00% | 3.00% | 3.00% | 3.00% |
| Grooming | Grooming | ||||
| Segment Reporting Information [Line Items] | ||||
| Concentration risk (in percent) | 8.00% | 8.00% | 8.00% | 8.00% |
| Health Care | Oral Care | ||||
| Segment Reporting Information [Line Items] | ||||
| Concentration risk (in percent) | 8.00% | 8.00% | 8.00% | 8.00% |
| Health Care | Personal Health Care | ||||
| Segment Reporting Information [Line Items] | ||||
| Concentration risk (in percent) | 7.00% | 7.00% | 7.00% | 7.00% |
Segment Information - Segment Results (Details) - USD ($) $ in Millions |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Mar. 31, 2026 |
Mar. 31, 2025 |
Mar. 31, 2026 |
Mar. 31, 2025 |
|
| Segment Reporting Information [Line Items] | ||||
| Net sales | $ 21,235 | $ 19,776 | $ 65,828 | $ 63,395 |
| Cost of products sold | (10,722) | (9,694) | (32,442) | (30,533) |
| Selling, general and administrative expense | (5,936) | (5,524) | (17,588) | (16,765) |
| Other segment items | 413 | 103 | 646 | (451) |
| EARNINGS BEFORE INCOME TAXES | 4,989 | 4,661 | 16,444 | 15,646 |
| Net earnings/(loss) | 3,951 | 3,793 | 13,063 | 12,439 |
| Depreciation and amortization | 785 | 690 | 2,348 | 2,124 |
| Capital expenditures | 1,019 | 859 | 3,386 | 2,777 |
| Other non-operating income/(expense), net | 537 | 210 | 964 | (120) |
| Foreign currency translation losses non-cash charge | 752 | |||
| Corporate | ||||
| Segment Reporting Information [Line Items] | ||||
| Net sales | 225 | 198 | 627 | 520 |
| Cost of products sold | (406) | (260) | (1,013) | (723) |
| Selling, general and administrative expense | (176) | 7 | (720) | (308) |
| Other segment items | 410 | 102 | 640 | (450) |
| EARNINGS BEFORE INCOME TAXES | 54 | 48 | (466) | (961) |
| Net earnings/(loss) | 181 | 200 | 57 | (531) |
| Depreciation and amortization | 92 | 43 | 296 | 156 |
| Capital expenditures | 67 | (30) | 530 | 442 |
| Other non-operating income/(expense), net | 343 | |||
| Beauty | Operating Segments | ||||
| Segment Reporting Information [Line Items] | ||||
| Net sales | 3,866 | 3,490 | 12,048 | 11,231 |
| Cost of products sold | (1,575) | (1,349) | (4,756) | (4,304) |
| Selling, general and administrative expense | (1,530) | (1,457) | (4,407) | (4,179) |
| Other segment items | 0 | 0 | 0 | (1) |
| EARNINGS BEFORE INCOME TAXES | 761 | 684 | 2,885 | 2,746 |
| Net earnings/(loss) | 579 | 539 | 2,222 | 2,158 |
| Depreciation and amortization | 102 | 98 | 307 | 298 |
| Capital expenditures | 97 | 80 | 257 | 198 |
| Grooming | Operating Segments | ||||
| Segment Reporting Information [Line Items] | ||||
| Net sales | 1,608 | 1,505 | 5,219 | 4,980 |
| Cost of products sold | (642) | (595) | (2,117) | (1,982) |
| Selling, general and administrative expense | (533) | (506) | (1,553) | (1,505) |
| Other segment items | 3 | 0 | 3 | 0 |
| EARNINGS BEFORE INCOME TAXES | 436 | 404 | 1,552 | 1,493 |
| Net earnings/(loss) | 331 | 321 | 1,212 | 1,206 |
| Depreciation and amortization | 80 | 75 | 238 | 235 |
| Capital expenditures | 124 | 119 | 384 | 299 |
| Health Care | Operating Segments | ||||
| Segment Reporting Information [Line Items] | ||||
| Net sales | 3,073 | 2,880 | 9,699 | 9,277 |
| Cost of products sold | (1,277) | (1,190) | (3,994) | (3,733) |
| Selling, general and administrative expense | (1,028) | (955) | (2,993) | (2,882) |
| Other segment items | 0 | 0 | 2 | 0 |
| EARNINGS BEFORE INCOME TAXES | 768 | 734 | 2,714 | 2,662 |
| Net earnings/(loss) | 579 | 569 | 2,067 | 2,068 |
| Depreciation and amortization | 112 | 96 | 325 | 293 |
| Capital expenditures | 141 | 136 | 389 | 354 |
| Fabric & Home Care | Operating Segments | ||||
| Segment Reporting Information [Line Items] | ||||
| Net sales | 7,403 | 6,948 | 22,882 | 22,233 |
| Cost of products sold | (4,068) | (3,698) | (12,277) | (11,639) |
| Selling, general and administrative expense | (1,647) | (1,609) | (4,914) | (4,886) |
| Other segment items | 0 | 1 | 0 | 1 |
| EARNINGS BEFORE INCOME TAXES | 1,689 | 1,642 | 5,692 | 5,709 |
| Net earnings/(loss) | 1,300 | 1,285 | 4,400 | 4,473 |
| Depreciation and amortization | 188 | 178 | 559 | 536 |
| Capital expenditures | 266 | 289 | 866 | 760 |
| Baby, Feminine & Family Care | Operating Segments | ||||
| Segment Reporting Information [Line Items] | ||||
| Net sales | 5,058 | 4,755 | 15,352 | 15,155 |
| Cost of products sold | (2,753) | (2,602) | (8,285) | (8,152) |
| Selling, general and administrative expense | (1,023) | (1,003) | (3,001) | (3,006) |
| Other segment items | 0 | 0 | 0 | 0 |
| EARNINGS BEFORE INCOME TAXES | 1,282 | 1,150 | 4,066 | 3,997 |
| Net earnings/(loss) | 980 | 880 | 3,105 | 3,065 |
| Depreciation and amortization | 210 | 200 | 623 | 606 |
| Capital expenditures | $ 324 | $ 265 | $ 959 | $ 724 |
Goodwill and Intangible Assets - Goodwill By Global Business Unit (Details) $ in Millions |
9 Months Ended |
|---|---|
|
Mar. 31, 2026
USD ($)
| |
| Goodwill [Roll Forward] | |
| Beginning balance | $ 41,650 |
| Acquisitions and divestitures | 40 |
| Translation and other | (330) |
| Ending balance | 41,359 |
| Beauty | |
| Goodwill [Roll Forward] | |
| Beginning balance | 14,229 |
| Acquisitions and divestitures | 0 |
| Translation and other | (124) |
| Ending balance | 14,105 |
| Grooming | |
| Goodwill [Roll Forward] | |
| Beginning balance | 12,993 |
| Acquisitions and divestitures | 0 |
| Translation and other | (85) |
| Ending balance | 12,908 |
| Health Care | |
| Goodwill [Roll Forward] | |
| Beginning balance | 7,941 |
| Acquisitions and divestitures | 40 |
| Translation and other | (78) |
| Ending balance | 7,902 |
| Fabric & Home Care | |
| Goodwill [Roll Forward] | |
| Beginning balance | 1,848 |
| Acquisitions and divestitures | 0 |
| Translation and other | (9) |
| Ending balance | 1,840 |
| Baby, Feminine & Family Care | |
| Goodwill [Roll Forward] | |
| Beginning balance | 4,640 |
| Acquisitions and divestitures | 0 |
| Translation and other | (35) |
| Ending balance | $ 4,605 |
Goodwill and Intangible Assets - Intangible Assets (Details) $ in Millions |
Mar. 31, 2026
USD ($)
|
|---|---|
| Intangible assets with determinable lives | |
| Gross Carrying Amount | $ 9,175 |
| Accumulated Amortization | (7,189) |
| Intangible assets with indefinite lives | |
| Gross Carrying Amount | 19,544 |
| Total identifiable intangible assets | $ 28,719 |
Goodwill and Intangible Assets - Additional Information (Details) - USD ($) $ in Millions |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Mar. 31, 2026 |
Mar. 31, 2025 |
Mar. 31, 2026 |
Mar. 31, 2025 |
|
| Goodwill and Intangible Assets Disclosure [Abstract] | ||||
| Intangible asset amortization | $ 76 | $ 78 | $ 232 | $ 241 |
| Indefinite-Lived Intangible Assets [Line Items] | ||||
| Percentage of fair value in excess of carrying value | 10.00% | 10.00% | ||
| Indefinite-lived intangible asset | $ 19,544 | $ 19,544 | ||
| Gillette | ||||
| Indefinite-Lived Intangible Assets [Line Items] | ||||
| Indefinite-lived intangible asset | $ 12,800 | $ 12,800 | ||
Goodwill and Intangible Assets - Fair Value Impacts (Details) - Intangible Assets with Indefinite Lives - Gillette |
Dec. 31, 2025 |
|---|---|
| +25 bps Discount Rate | |
| Indefinite-Lived Intangible Assets [Line Items] | |
| Change in estimated fair value (in percent) | (0.05) |
| -25 bps Growth Rates | |
| Indefinite-Lived Intangible Assets [Line Items] | |
| Change in estimated fair value (in percent) | (0.05) |
| -50 bps Royalty Rate | |
| Indefinite-Lived Intangible Assets [Line Items] | |
| Change in estimated fair value (in percent) | (0.04) |
Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions |
3 Months Ended | 9 Months Ended | ||||
|---|---|---|---|---|---|---|
Mar. 31, 2026 |
Mar. 31, 2025 |
Mar. 31, 2026 |
Mar. 31, 2025 |
|||
| CONSOLIDATED AMOUNTS | ||||||
| NET EARNINGS ATTRIBUTABLE TO PROCTER & GAMBLE | $ 3,932 | $ 3,769 | $ 13,002 | $ 12,359 | ||
| Less: Preferred dividends | 72 | 71 | 218 | 215 | ||
| Net earnings attributable to P&G available to common shareholders (Basic) | $ 3,860 | $ 3,698 | $ 12,784 | $ 12,144 | ||
| SHARES IN MILLIONS | ||||||
| Basic weighted average common shares outstanding (in shares) | 2,328.5 | 2,347.2 | 2,335.3 | 2,351.8 | ||
| Add effect of dilutive securities: | ||||||
| Stock options and other unvested equity awards (in shares) | 20.0 | 31.9 | 21.8 | 34.9 | ||
| Convertible preferred shares (in shares) | 68.0 | 70.7 | 68.7 | 71.3 | ||
| Diluted weighted average common shares outstanding (in shares) | 2,416.5 | 2,449.8 | 2,425.8 | 2,458.0 | ||
| NET EARNINGS PER COMMON SHARE | ||||||
| Basic (in dollars per share) | [1] | $ 1.66 | $ 1.58 | $ 5.47 | $ 5.16 | |
| Diluted (in dollars per share) | [1] | $ 1.63 | $ 1.54 | $ 5.36 | $ 5.03 | |
| Stock options | ||||||
| Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||||
| Antidilutive securities (in shares) | 22.0 | 8.0 | 20.0 | 6.0 | ||
| ||||||
Share-Based Compensation and Postretirement Benefits (Details) - USD ($) $ in Millions |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Mar. 31, 2026 |
Mar. 31, 2025 |
Mar. 31, 2026 |
Mar. 31, 2025 |
|
| Retirement Benefits [Abstract] | ||||
| Share-based compensation expense | $ 132 | $ 123 | $ 394 | $ 364 |
| Pension Benefits | ||||
| Defined Benefit Plan Disclosure [Line Items] | ||||
| Net periodic benefit cost (credit) | 27 | 29 | 93 | 92 |
| Other Retiree Benefits | ||||
| Defined Benefit Plan Disclosure [Line Items] | ||||
| Net periodic benefit cost (credit) | $ (153) | $ (180) | $ (456) | $ (541) |
Risk Management Activities and Fair Value Measurements - Additional Information (Details) - USD ($) $ in Millions |
Mar. 31, 2026 |
Jun. 30, 2025 |
|---|---|---|
| Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
| Cash equivalents | $ 11,100 | $ 8,300 |
| Fair value of long-term debt | 29,400 | 29,500 |
| Current portion of long-term debt instruments | $ 6,500 | $ 5,300 |
| Derivative Asset, Statement of Financial Position [Extensible Enumeration] | OTHER NONCURRENT ASSETS, Prepaid expenses and other current assets | OTHER NONCURRENT ASSETS, Prepaid expenses and other current assets |
| Derivative Liability, Statement of Financial Position [Extensible Enumeration] | Accrued and other liabilities, OTHER NONCURRENT LIABILITIES | Accrued and other liabilities, OTHER NONCURRENT LIABILITIES |
| Collateral already posted, aggregate fair value | $ 477 | $ 1,100 |
| Fair Value Hedging | Underlying, Other | ||
| Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
| Carrying amount of the underlying debt obligation | 5,000 | 3,100 |
| Net Investment Hedging | Underlying, Other | ||
| Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
| Carrying amount of the underlying debt obligation | $ 12,100 | $ 11,200 |
Risk Management Activities and Fair Value Measurements - Notional Amounts And Fair Values Of Qualifying And Non-Qualifying Financial Instruments Used In Hedging Transactions (Details) - USD ($) $ in Millions |
Mar. 31, 2026 |
Jun. 30, 2025 |
|---|---|---|
| Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
| Notional Amount | $ 19,348 | $ 18,730 |
| Fair Value Asset | 88 | 19 |
| Fair Value (Liability) | (568) | (1,062) |
| Designated as Hedging Instrument | ||
| Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
| Notional Amount | 15,122 | 15,154 |
| Fair Value Asset | 80 | 0 |
| Fair Value (Liability) | (551) | (1,061) |
| Interest rate contracts | Fair Value Hedging | ||
| Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
| Notional Amount | 5,262 | 3,280 |
| Fair Value Asset | 0 | 0 |
| Fair Value (Liability) | (230) | (201) |
| Foreign currency interest rate contracts | Not Designated as Hedging Instrument | ||
| Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
| Notional Amount | 4,226 | 3,576 |
| Fair Value Asset | 8 | 19 |
| Fair Value (Liability) | (17) | 0 |
| Foreign currency interest rate contracts | Net Investment Hedging | ||
| Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
| Notional Amount | 9,860 | 11,874 |
| Fair Value Asset | 80 | 0 |
| Fair Value (Liability) | $ (321) | $ (860) |
Risk Management Activities and Fair Value Measurements - Gains And Losses On Derivatives In Net Investment Hedges Recognized in OCI (Details) - USD ($) $ in Millions |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Mar. 31, 2026 |
Mar. 31, 2025 |
Mar. 31, 2026 |
Mar. 31, 2025 |
|
| Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||
| Amount of gain excluded from effectiveness testing, which was recognized in earnings | $ 56 | $ 60 | $ 191 | $ 167 |
| Gain recognized in AOCI | 279 | (436) | 318 | (221) |
| Foreign currency interest rate contracts | ||||
| Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||
| Amount of Gain/(Loss) Recognized in OCI on Derivatives | $ 208 | $ (473) | $ 205 | $ (117) |
Risk Management Activities and Fair Value Measurements - Gains And Losses On Derivatives In Net Investment Hedges Recognized in Earnings (Details) - USD ($) $ in Millions |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Mar. 31, 2026 |
Mar. 31, 2025 |
Mar. 31, 2026 |
Mar. 31, 2025 |
|
| Interest rate contracts | Fair Value Hedging | ||||
| Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||
| Amount of Gain/(Loss) Recognized in Earnings | $ (24) | $ (2) | $ (29) | $ 109 |
| Foreign currency interest rate contracts | Not Designated as Hedging Instrument | ||||
| Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||
| Amount of Gain/(Loss) Recognized in Earnings | $ (1) | $ 30 | $ 21 | $ (19) |
Accumulated Other Comprehensive Income/(Loss) - Statement of AOCI (Details) - USD ($) $ in Millions |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Mar. 31, 2026 |
Mar. 31, 2025 |
Mar. 31, 2026 |
Mar. 31, 2025 |
|
| AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | ||||
| Beginning balance | $ 53,317 | $ 51,443 | $ 52,284 | $ 50,559 |
| Other comprehensive income/(loss), before tax: | ||||
| OCI before reclassifications | (58) | |||
| Amounts reclassified to the Consolidated Statement of Earnings | 15 | |||
| Total other comprehensive income/(loss), before tax | (43) | |||
| Tax effect | (128) | |||
| TOTAL OTHER COMPREHENSIVE INCOME/(LOSS), NET OF TAX | (198) | 330 | (171) | 590 |
| Less: OCI attributable to noncontrolling interests, net of tax | (16) | |||
| Ending balance | 54,731 | $ 52,545 | 54,731 | $ 52,545 |
| Total AOCI | ||||
| AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | ||||
| Beginning balance | (12,143) | |||
| Other comprehensive income/(loss), before tax: | ||||
| Ending balance | (12,298) | (12,298) | ||
| Investment Securities | ||||
| AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | ||||
| Beginning balance | 9 | |||
| Other comprehensive income/(loss), before tax: | ||||
| OCI before reclassifications | 2 | |||
| Amounts reclassified to the Consolidated Statement of Earnings | 0 | |||
| Total other comprehensive income/(loss), before tax | 2 | |||
| Tax effect | (1) | |||
| TOTAL OTHER COMPREHENSIVE INCOME/(LOSS), NET OF TAX | 1 | |||
| Less: OCI attributable to noncontrolling interests, net of tax | 0 | |||
| Ending balance | 10 | 10 | ||
| Postretirement Benefit Plans | ||||
| AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | ||||
| Beginning balance | (777) | |||
| Other comprehensive income/(loss), before tax: | ||||
| OCI before reclassifications | 4 | |||
| Amounts reclassified to the Consolidated Statement of Earnings | 15 | |||
| Total other comprehensive income/(loss), before tax | 18 | |||
| Tax effect | (4) | |||
| TOTAL OTHER COMPREHENSIVE INCOME/(LOSS), NET OF TAX | 14 | |||
| Less: OCI attributable to noncontrolling interests, net of tax | 0 | |||
| Ending balance | (763) | (763) | ||
| Foreign Currency Translation | ||||
| AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | ||||
| Beginning balance | (11,375) | |||
| Other comprehensive income/(loss), before tax: | ||||
| OCI before reclassifications | (63) | |||
| Amounts reclassified to the Consolidated Statement of Earnings | 0 | |||
| Total other comprehensive income/(loss), before tax | (63) | |||
| Tax effect | (123) | |||
| TOTAL OTHER COMPREHENSIVE INCOME/(LOSS), NET OF TAX | (186) | |||
| Less: OCI attributable to noncontrolling interests, net of tax | (16) | |||
| Ending balance | $ (11,545) | $ (11,545) | ||
Commitments and Contingencies (Details) $ in Millions |
9 Months Ended |
|---|---|
|
Mar. 31, 2026
USD ($)
audit
country
taxable_jurisdiction
| |
| Loss Contingencies [Line Items] | |
| Number of countries with on the ground operations | country | 70 |
| Number of taxable jurisdictions | taxable_jurisdiction | 150 |
| Accrued existing liabilities for uncertain tax positions | $ | $ 121 |
| Minimum | |
| Loss Contingencies [Line Items] | |
| Number of audits underway | 30 |
| Maximum | |
| Loss Contingencies [Line Items] | |
| Number of audits underway | 40 |
Supplier Finance Programs (Details) - USD ($) $ in Billions |
Mar. 31, 2026 |
Jun. 30, 2025 |
|---|---|---|
| Supplier Finance Program [Line Items] | ||
| Amount due to suppliers participating in SCF | $ 5.7 | $ 5.8 |
| Supplier Finance Program, Obligation, Statement of Financial Position [Extensible Enumeration] | Accounts payable | Accounts payable |
| Minimum | ||
| Supplier Finance Program [Line Items] | ||
| Payment terms for suppliers (in days) | 60 days | |
| Maximum | ||
| Supplier Finance Program [Line Items] | ||
| Payment terms for suppliers (in days) | 180 days |
Restructuring Program - Narrative (Details) $ in Millions |
3 Months Ended | 6 Months Ended | 9 Months Ended |
|---|---|---|---|
|
Mar. 31, 2026
USD ($)
|
Dec. 31, 2025
USD ($)
|
Mar. 31, 2026
USD ($)
employee
|
|
| Restructuring Cost and Reserve [Line Items] | |||
| Expected costs, term (in years) | 2 years | ||
| Expected number of personnel, reduction | employee | 7,000 | ||
| Restructuring charges | $ 198 | $ 584 | $ 782 |
| Cost of Sales | |||
| Restructuring Cost and Reserve [Line Items] | |||
| Restructuring charges | 138 | 418 | |
| Selling, General and Administrative Expenses | |||
| Restructuring Cost and Reserve [Line Items] | |||
| Restructuring charges | 53 | 330 | |
| Other Non-operating Income/(Expense) | |||
| Restructuring Cost and Reserve [Line Items] | |||
| Restructuring charges | 6 | 33 | |
| Minimum | |||
| Restructuring Cost and Reserve [Line Items] | |||
| Historical restructuring costs, before tax | 250 | 250 | |
| Expected costs | 1,500 | 1,500 | |
| Maximum | |||
| Restructuring Cost and Reserve [Line Items] | |||
| Historical restructuring costs, before tax | 500 | 500 | |
| Expected costs | $ 2,000 | $ 2,000 |
Restructuring Program - Restructuring Activity (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | 9 Months Ended |
|---|---|---|---|
Mar. 31, 2026 |
Dec. 31, 2025 |
Mar. 31, 2026 |
|
| Restructuring Reserve [Roll Forward] | |||
| Beginning balance | $ 189 | $ 189 | |
| Cost incurred | $ 198 | 584 | 782 |
| Cost paid/settled | (701) | ||
| Ending balance | 269 | 269 | |
| Separations | |||
| Restructuring Reserve [Roll Forward] | |||
| Beginning balance | 120 | 120 | |
| Cost incurred | 133 | 322 | 455 |
| Cost paid/settled | (382) | ||
| Ending balance | 193 | 193 | |
| Asset Related Costs | |||
| Restructuring Reserve [Roll Forward] | |||
| Beginning balance | 0 | 0 | |
| Cost incurred | 53 | 109 | 162 |
| Cost paid/settled | (162) | ||
| Ending balance | 0 | 0 | |
| Other | |||
| Restructuring Reserve [Roll Forward] | |||
| Beginning balance | 69 | 69 | |
| Cost incurred | 12 | $ 152 | 164 |
| Cost paid/settled | (157) | ||
| Ending balance | $ 76 | $ 76 |
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