Company: CLX
Filing Date: 2025-10-07
Form Type: DEF 14A
Source: 0001552781-25-000311
Chunk: 101

Company: CLOROX CO /DE/
Filing Date: 2025-10-07
Form: DEF 14A
Chunk 101
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 on the outcome of these assessments, pre-tax, noncash impairment charges of $445 were recorded during fiscal year 2023. During the first quarter of fiscal year 2025, the Company completed the divestiture of the Better Health VMS business which includes the relevant intangibles. See Note 2 for additional information. No other significant impairments were identified as a result of the Company’s impairment reviews during fiscal years 2025, 2024 and 2023.

NOTE 8. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES Accounts payable and accrued liabilities consisted of the following as of June 30:

|                                    |     2025 |     2024 |
| Accounts payable                   | $    838 | $    950 |
| Venture                            
 Agreement terminal obligation, net |      501 |        — |
| Compensation                       
 and employee benefit costs         |      179 |      190 |
| Trade                              
 and sales promotion costs          |      137 |      156 |
| Dividends                          |       27 |       25 |
| Other                              |      146 |      165 |
| Total                              |  $ 1,828 |  $ 1,486 |

Venture Agreement The Company has an agreement with The Procter & Gamble Company (P&G) for the Company’s Glad bags and wraps business. In connection with this agreement, P&G provides research and development (R&D) support to the Glad business. As of both June 30, 2025 and 2024, P&G had a 20% interest in the venture. The Company pays a royalty to P&G for its interest in the profits, losses and cash flows, as contractually defined, of the Glad business, which is included in Cost of products sold. The term of this agreement was to expire in January 2026, unless the parties agreed, on or prior to January 31, 2025, to further extend the term of the agreement for another seven years or agree to take some other relevant action. Since the parties jointly did not opt to further extend the term of the agreement for another seven years or agree to take some other relevant action on or before January 31, 2025, the agreement will terminate in accordance with its terms in January 2026.

| The                                              
 Clorox Company 2025 Proxy Statement > Appendix A | A-36 |

Upon termination of the agreement, the Company is required to purchase P&