Company: CHD
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0000950170-25-019801
Chunk: 134

Company: CHURCH & DWIGHT CO INC /DE/
Filing Date: 2025-02-13
Form: 10-K
Item: Item 1B
Chunk 134
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, 2023 and 2022 are $4.5, $4.2 and $4.8, respectively, of tax benefits that, if recognized, would affect the effective tax rate. Also included in the balance of unrecognized tax benefits at December 31, 2024, 2023 and 2022 are $0.9, $0.9 and $1.0, respectively, of tax benefits that, if recognized, would result in adjustments to deferred taxes.The Company is subject to U.S. federal income tax as well as income tax in multiple state and international jurisdictions.  The Company’s U.S. federal income tax returns are closed for tax years through 2020. The Company is currently under audit by several state taxing authorities for the years 2017 through 2022.  It is reasonably possible that a decrease of approximately $0.3 in the unrecognized tax benefits may occur within the next twelve months related to the settlement of these audits or the lapse of applicable statutes of limitations.The Company’s policy for recording interest associated with income tax examinations is to record interest as a component of Income before Income Taxes. During the twelve months ended December 31, 2024, 2023, and 2022, the Company recognized interest expense 

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CHURCH & DWIGHT CO., INC. AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Continued)(In millions, except share and per share data) 

associated with uncertain tax positions of approximately $0.4, $0.3 and $0.1, respectively.  As of December 31, 2024, 2023, and 2022, the Company had accrued interest expense related to unrecognized tax benefits of $1.3, $0.9 and $0.7, respectively.       On August 16, 2022, President Biden signed into law the Inflation Reduction Act of 2022 (the “Act”), which contains provisions effective January 1, 2023, including a 15% corporate minimum tax and a 1% excise tax on stock buybacks. The law did not have any material impacts on the Company's consolidated financial position, results of operations or cash flows during the year ended December 31, 2024.   

12.Stock Based Compensation Plans and Other Benefit PlansIn the first quarter of 2023, the Company updated its Long-Term Incentive Program (“LTIP”) to provide employees