Company: CLX
Filing Date: 2025-10-07
Form Type: DEF 14A
Source: 0001552781-25-000311
Chunk: 99

Company: CLOROX CO /DE/
Filing Date: 2025-10-07
Form: DEF 14A
Chunk 99
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 March 20, 2024, the Company completed the sale of its Argentina business, which consisted of two production plants in Argentina as well as the rights to the Company’s brands in Argentina, Uruguay and Paraguay, to Apex Capital and an investment group. The transaction is in support of the Company’s IGNITE strategy and the commitment to evolve the Company’s portfolio to increase focus on its core business to drive more consistent, profitable growth. The transaction was executed pursuant to a stock purchase agreement, which covered all the outstanding stock of the Clorox Argentina S.A. and Clorox Uruguay S.A. As a result of the transaction, the Company recorded a pre-tax loss of $240 during the third quarter of fiscal year 2024, primarily due to the one-time noncash impact of the release of the cumulative translation adjustment losses of $223 related to these entities that had previously been recorded in Accumulated other comprehensive net (loss) income.

| The                                              
 Clorox Company 2025 Proxy Statement > Appendix A | A-33 |

The major classes of assets and liabilities of the Argentina business divested as of March 20, 2024 were as follows:

|                          | Divestiture |
| Working                  
 capital, net             |           $ 
          31 |
| Property,                
 plant and equipment, net |          18 |
| Goodwill(1)              |          16 |
| Other                    
 assets                   |           3 |
| Other                    
 liabilities              |          -3 |
| Net                      
 assets divested          |           $ 
          65 |

| (1) | Goodwill                                               
 corresponding to the International reportable segment. |

The following table presents net sales of the Argentina business, which includes the financial results up to March 20, 2024, the date of sale, for fiscal years ended June 30:

|       | 2024 | 2023 |
| Net   
 sales |    $ 
  123 |    $ 
  172 |

The divestitures of the Company’s Better Health VMS and Argentina businesses do not meet the criteria to be reported as discontinued operations in the consolidated financial statements as the Company’s decision to divest these businesses did not represent a strategic shift that will have a major effect on the Company’s operations and financial results. NOTE 3. AUGUST 2023 CYBERATTACK On Monday, August 14, 2023, the Company identified unauthorized activity on some of its Information Technology (IT) systems and immediately began