Company: CHD
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0000950170-25-019801
Chunk: 298

Company: CHURCH & DWIGHT CO INC /DE/
Filing Date: 2025-02-13
Form: 10-K
Item: Item 8
Chunk 298
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 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 with an award of stock options and initial grants of restricted stock units (“RSUs”), and made an initial grant of performance share units ("PSUs") to members of the Company's Executive Leadership Team ("ELT").  In connection with this update, the awards are now granted in the first quarter of each year.  Prior to 2023, the awards were granted in the second quarter.  The Company recognizes the grant-date fair value for each of these awards, less estimated forfeitures, as compensation expense ratably over the vesting period.  For employees and Directors that meet retirement eligibility requirements, the expense related to share-based compensation is recognized on the date of grant as there is no future service period required to vest in the awards.  Stock OptionsThe Company has non-qualified options outstanding under the LTIP.  Stock options outstanding are issued at market value on the date of grant, vest on the third anniversary of the date of grant and must