Company: CLX
Filing Date: 2025-02-03
Form Type: 10-Q
Source: 0000021076-25-000013
Chunk: 68

Company: CLOROX CO /DE/
Filing Date: 2025-02-03
Form: 10-Q
Item: Part I, Item 8
Chunk 68
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 income— (1)(1)(2)Income tax benefit (expense)— (1)— (1)Net current period other comprehensive (loss) income(34)1 (1)(34)Balance as of December 31, 2024$(259)$80 $(2)$(181)Six months ended December 31Foreign currency translation adjustmentsNet unrealized gains (losses) on derivativesPension and postretirement benefit adjustmentsAccumulated other comprehensive net (loss) incomeBalance as of June 30, 2023$(445)$99 $(147)$(493)Other comprehensive (loss) income before reclassifications6 (6)4 4 Amounts reclassified from Accumulated other comprehensive net (loss) income (1)— (4)175 171 Income tax benefit (expense)— 1 (42)(41)Net current period other comprehensive (loss) income6 (9)137 134 Balance as of December 31, 2023$(439)$90 $(10)$(359)Balance as of June 30, 2024$(239)$85 $(1)$(155)Other comprehensive (loss) income before reclassifications(20)(1)— (21)Amounts reclassified from Accumulated other comprehensive net (loss) income — (3)(1)(4)Income tax benefit (expense)— (1)— (1)Net current period other comprehensive (loss) income(20)(5)(1)(26)Balance as of December 31, 2024$(259)$80 $(2)$(181)(1)Includes recognition of pension settlement charge reclassified into Net earnings. See Note 13 for additional details.

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NOTE 13. 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 endedSix months ended12/31/202412/31/202312/31/202412/31/2023Interest cost$2 $3 $3