Company: CLX
Filing Date: 2025-06-26
Form Type: 11-K
Source: 0001206774-25-000433
Chunk: 9

Company: CLOROX CO /DE/
Filing Date: 2025-06-26
Form: 11-K
Chunk 9
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 purchased or received approximately $7,014 and sold or distributed approximately $15,907 of the Company’s common
stock.

4. Income Tax Status

The Plan has received a determination letter from
the Puerto Rico Treasury Department dated May 3, 2013, stating that the Plan meets the requirements of section 1081.01 (d) of the Code
and that the trust established thereunder will be entitled to exemption from local income taxes. Subsequent to this determination by the
Puerto Rico Treasury Department, the Plan was amended. The Plan’s management believes the Plan is being operated in compliance with
applicable requirements of the Code and, therefore, believes that the Plan, as amended and restated, is qualified and the related trust
is tax-exempt.

U.S. GAAP requires Plan management to evaluate
uncertain tax positions taken by the Plan. The financial statement effects of a tax position are recognized when the position meets certain
recognition thresholds or measurement standards defined by U.S. GAAP. The Plan administrator has analyzed the tax positions taken by the
Plan, and has concluded that, as of December 31, 2024, there are no uncertain positions taken or expected to be taken. The Plan recognized
no interest or

10

penalties related to uncertain tax positions.
The Plan may be subjected to routine audits by the taxing jurisdictions; however, there are currently no audits in progress for any tax
periods.

5. Fair Value Measurements

Fair value is defined as the price that would
be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement
date (i.e., an exit price). Fair value is determined based on a hierarchy that prioritizes the inputs to valuation techniques used to
measure fair value. An asset or liability’s classification is based on the lowest level of input that is significant to the fair
value measurement.

Assets and liabilities carried at fair value are
classified and disclosed in one of the following three categories:

| Level 1 – | Quoted market prices in active markets for identical 
 assets or liabilities.                               |

| Level 2 – | Observable market-based inputs or unobservable inputs 
 that are corroborated by market data.                 |

| Level 3 – | Unobservable inputs reflecting management’s 
 own assumptions                             |

The following is a description of the
valuation methodologies used for assets and liabilities measured at fair value:

Mutual funds: Valued at quoted
market prices of shares held by the Plan