Company: CLX
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0000021076-25-000023
Chunk: 19

Company: CLOROX CO /DE/
Filing Date: 2025-05-05
Form: 10-Q
Item: Part I, Item 1
Chunk 19
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 as of June 30, 2024$(239)$85 $(1)$(155)Other comprehensive (loss) income before reclassifications(14)(1)— (15)Amounts reclassified from Accumulated other comprehensive net (loss) income — (5)(1)(6)Income tax benefit (expense)1 (1)— — Net current period other comprehensive (loss) income(13)(7)(1)(21)Balance as of March 31, 2025$(252)$78 $(2)$(176)(1)Includes the release of currency translation adjustment from the Argentina business divestiture. See Note 3 for additional details.(2)Includes recognition of pension settlement charge reclassified into Net earnings. See Note 15 for additional details.

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NOTE 15. EMPLOYEE BENEFIT PLANS

In the second quarter of fiscal year 2024, the Company settled plan benefits of its domestic qualified pension plan (the Plan) and recorded a one-time noncash charge, net of curtailment gain, of $171 before taxes ($130 after tax) in the Company’s condensed consolidated statement of earnings and comprehensive income. The Company continues to maintain various other retirement income plans for eligible domestic and international employees.The following table summarizes the components of net periodic benefit (credit) cost for the Company’s remaining retirement income plans:Three months endedNine months ended3/31/20253/31/20243/31/20253/31/2024Interest cost$1 $2 $4 $10 Expected return on plan assets (1)— — (1)(2)Amortization of unrecognized items— — — 3 Curtailment gain— — — (6)Settlement (gain) loss2 — (2)178 Total$3 $2 $1 $183 (1)The weighted average long-term expected rate of return on plan assets used in computing the fiscal year 2025 net periodic benefit cost is 5.8%.The net periodic benefit (credit) cost for the Company’s retirement health care plans was $0 and ($1) for the three and nine months ended March 31, 2025, respectively and ($1) for both the three and nine months ended March 31, 2024.During both the three months ended March 31, 2025 and 2024, the Company made $8 in contributions to