Company: CLX
Filing Date: 2025-02-03
Form Type: 10-Q
Source: 0000021076-25-000013
Chunk: 87

Company: CLOROX CO /DE/
Filing Date: 2025-02-03
Form: 10-Q
Item: Part I, Item 8
Chunk 87
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 are and will continue to be available for general corporate purposes. The Credit Agreement includes certain restrictive covenants and limitations. The primary restrictive covenant is a minimum ratio of 4.0, calculated as total earnings before interest, taxes, depreciation and amortization and other similar noncash charges and certain other items (Consolidated EBITDA) to total interest expense for the trailing four quarters (Interest Coverage ratio), as defined and described in the Credit Agreement.

The Company was in compliance with all restrictive covenants and limitations in the Credit Agreement as of December 31, 2024 and anticipates being in compliance with all restrictive covenants for the foreseeable future.

As of December 31, 2024, the Company maintained $34 of foreign and other credit lines, of which $6 was outstanding.

Stock Repurchases and Dividend Payments

As of December 31, 2024, the Company had two stock repurchase programs: an open-market purchase program with an authorized aggregate purchase amount of up to $2,000, which has no expiration date, and a program to offset the anticipated impact of dilution related to stock-based awards (the Evergreen Program), which has no authorization limit on the dollar amount and no expiration date. During the three and six months ended December 31, 2024, the Company repurchased 906 and 1,695 thousand shares of common stock at a cost of $150 and $257, respectively. There were no share repurchases of common stock during both the three and six months ended December 31, 2023. 

Dividends per share declared and total dividends paid to Clorox stockholders were as follows for the periods indicated: Three months endedSix months ended12/31/202412/31/202312/31/202412/31/2023Dividends per share declared$1.22 $1.20 $3.66 $3.60 Total dividends paid151 149 302 298 

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CONTINGENCIES

See Notes to Condensed Consolidated Financial Statements for information on the Company’s contingencies.

RECENTLY ISSUED ACCOUNTING STANDARDS

See Notes to Condensed Consolidated Financial Statements for a summary of recently issued accounting standards relevant to the Company. 

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NON-GAAP FINANCIAL MEASURES

The non-GAAP financial measures that are included in this MD&A and the reasons management believes they are useful to investors are described below. Certain non-GAAP financial