----

----

**UNITEDSTATES****SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

----

**FORM10-K**

ANNUALREPORT PURSUANT TO SECTION 13 OR 15(d) OFTHE SECURITIES EXCHANGE ACT OF 1934

For thetwelve months ended **June 30, 2003**

Commissionfile number:**1-07151**

THE CLOROXCOMPANY(Exact name of registrant as specified in itscharter)

| **Delaware**                                                  | **31-0595760**                         |
|---------------------------------------------------------------|----------------------------------------|
| (State orother jurisdiction of incorporation or organization) | (I.R.S.Employer Identification Number) |

**1221Broadway****,****Oakland, California****94612-1888******(Address of principal executiveoffices)    (Zip code)

**(510) 271-7000******(Registrant's telephone number, includingarea code)

**Securities registered pursuant toSection 12(b) of the Act:**

|                               |       | **Name ofeach exchange**               |
|------------------------------------|------------|----------------------------------------|
| **Title ofeach class**             |       | **on whichregistered**                 |
| **COMMONSTOCK—$1 PAR VALUE** | ** ** | New YorkStock ExchangePacific Exchange |

**Securities registered pursuant toSection 12(g) of the Act:None**(Title of class)

    Indicate by check markwhether the registrant (1) has filed all reports required tobe filed by Section 13 or 15(d) of the Securities Exchange Actof 1934 during the preceding 12 months (or for such shorterperiod that the registrant was required to file such reports) and(2) has been subject to such filing requirements for the past90 days. 

Yes X No    

    Indicate by check mark ifdisclosure of delinquent filers pursuant to Item 405 ofRegulation S-K is not contained herein and will not becontained, to the best of registrant's knowledge, in definitiveproxy or information statements incorporated by reference inPart III of this Form 10-K or any amendment tothisForm 10-K. 

    Indicate by check markwhether the registrant is an accelerated filer (as defined inExchange Act Rule 12b-2).  Yes X No    

The aggregate market valueof the voting stock held by non-affiliates of the Registrant,computed by reference to the closing price of the Registrant'sCommon Stock as of December 31, 2002 (the last business day of theCompany's most recently completed second quarter), wasapproximately $6.3 billion.

    Number of shares ofRegistrant's Common Stock, par value $1 per share ("Common Stock"),outstanding on July 31, 2003 was 213,889,287.

    Documents Incorporated byReference:

    Certain specifiedportions of the registrant's definitive proxy statement to be filedwithin 120 days after June 30, 2003, are incorporated hereinby reference in response to Part II, Item 9 and Part III,Items 10 through 14, inclusive.

----

**PARTI**

**ITEM 1 BUSINESS**

****

**(a)  GENERALDEVELOPMENT OF BUSINESS.**

The Company (the term"Company" as used herein includes The Clorox Company (theregistrant identified on the facing sheet) and its subsidiaries,unless the context indicates otherwise) was originally founded inOakland, California in 1913 as the Electro-Alkaline Company. It was reincorporated as Clorox Chemical Corporation in 1922, asClorox Chemical Co. in 1928 and as The Clorox Company (an Ohiocorporation) in 1957, when the business was acquired by The Procter& Gamble Company.  The Company was fully divested by TheProcter & Gamble Company in 1969 and, as an independentcompany, was reincorporated in 1973 in California as The CloroxCompany.  In 1986, the Company was reincorporated in Delaware.In January 1999, the Company acquired First BrandsCorporation.

For recent businessdevelopments, refer to the information set forth under the caption"Management's Discussion and Analysis," on pages D-2 through D-17of Exhibit 99-1 hereto, incorporated herein byreference.

**(b)  FINANCIALINFORMATION ABOUT INDUSTRY SEGMENTS. **

The Company has threebusiness segments: Household Products—North America,Specialty Products, and Household Products—LatinAmerica/Other.  Financial information for each of theCompany's segments for the last three fiscal years, including netsales, earnings from continuing operations before income taxes, andidentifiable assets is described in Note 19 — IndustrySegment Information of the Notes to Consolidated FinancialStatements, which appears on pages D-48, D-49 and D-50 of Exhibit99-1 hereto, incorporated herein by reference.  Each of theCompany's segments accounted for more than 10 percent of theCompany's consolidated revenues during the last three****fiscalyears.

**(c)  NARRATIVEDESCRIPTION OF BUSINESS.**

The Company's businessoperations, represented by the aggregate of its HouseholdProducts—North America, Specialty Products, and HouseholdProducts—Latin America/Other, include the production andmarketing of non-durable consumer products sold primarily throughgrocery and other retail stores.  For the most part, thefactors necessary for an understanding of these three segments areessentially the same.   

**PRINCIPALPRODUCTS.**  The products of theHousehold Products—North America segment include: (a) plastic bags, wraps andcontainers, under the Glad brand, (b) household cleaning productssuch as disinfecting sprays and wipes, toilet bowl cleaners,dilutable, spray and gel household cleaners, stain removers,mopping systems, spray cleaners, glass and surface cleaners, carpetcleaners, reusable cleaning cloths, drain openers, septic-systemtreatments; all-purpose spray and floor spray cleaners,mild-abrasive liquid and gel cleansers, steel-wool soap pads andscrubber sponges, mildew removers, soap scum and bathroom cleaners;daily shower cleaners and pre-moistened towelettes, primarily underthe brands Clorox, Formula 409, Pine Sol, Tilex, Soft Scrub andS.O.S, (c) laundry products, such as liquid bleaches, laundry stainremovers and dry and liquid color-safe bleaches under the brandsClorox and Clorox 2, and (d) water filtration systems and filtersunder the Brita brand.

The products of theSpecialty Products segment include: (a) auto care products such asprotectants, cleaners and wipes, tire- and wheel-care products andwashes, automotive additives and appearance products, primarilyunder the Armor All and STP brands; (b) cat litter products such asclumping cat litter, scoopable and silica-gel crystals cat litter,primarily under the Fresh Step and Scoop Away brands;  (c)food products such as salad dressings and dip mixes; seasonedmini-croutons, sauces, marinades, primarily under the Hidden Valleyand K C Masterpiece brands; (d) seasonal products such as charcoalbriquets, charcoal lighter and wood chips under the Kingsford andMatch Light brands; ant and roach bait stations and aerosols, antgranules and stakes and roach gels under the Combat brand; and (e)products for institutional markets such as bleaches, toilet bowlcleaners, disinfectants, disinfecting sprays and wipes, dilutablecleaners, insecticides, cleaners, food-storage bags, wraps, trashbags, dressings, barbecue sauces, briquets, clog removers,cleaners, steel-wool soap pads, mild-abrasive liquid cleansers,mildew removers, soap scum removers and bathroomcleaners.

The products of theHousehold Products – Latin America/Other segment include: (a)in the Asia-Pacific region: bleaches, insecticides, disposablegloves, cleaning cloths, sponges and scourers,  non-stickbaking paper, ice cube bags, non-stick frying pan sheets, aluminumfoil, foil trays, plastic covers, oven bags,  reclosable bags,paste cleaner, food bags, cling films, trash bags, coolantconcentrates, brake fluids and sponges, primarily under the Glad,Chux, Home Mat, Armor All, Combat and Clorox brands, (b) in theLatin American region: laundry additives, waxes, bleaches, spray and gel cleaners, liquid household cleaners, toilet bowl,bathroom cleaners, disinfecting sprays, bleaches, cleaningutensils, liquid household cleaners, waxes, brooms, cleaningutensils, toilet bowl cleaners, candles, cleaning utensils, airfresheners, laundry additives and fabric refreshers and cleanersprimarily distributed under the Clorox, Ayudín, Limpido,Clorinda, Los Conejos, Poett, Mistolin, Lestoil and Bon Brilbrands.

**PRINCIPAL MARKETS -METHODS OF DISTRIBUTION.**  Mostnon-durable household consumer products are nationally advertisedand sold within the United States to grocery stores through anetwork of brokers and sold to mass merchandisers, warehouse clubs,military and other retail stores primarily through a direct salesforce.  Within the United States, the Company also sellsinstitutional versions of many of its products.  Outside theUnited States, the Company sells consumer products to the retailtrade through subsidiaries, licensees, distributors andjoint-venture arrangements with local partners. 

**SOURCES ANDAVAILABILITY OF RAW MATERIALS.**  TheCompany purchases raw materials, packaging supplies, transportationand other services, products and energy from numerous unaffiliatedfirms.  Interruptions in the delivery of these materials orservices could adversely impact the Company.  Significant rawmaterials were available from a sufficient number of sources duringfiscal year 2003.  Contingency plans have been developed forany significant raw materials sourced from a singlesupplier. 

**PATENTS ANDTRADEMARKS.**  Most of the Company'sbrand name consumer products are protected by registeredtrademarks.  Its brand names and trademarks are highlyimportant to its business and the Company pursues a course ofvigorous action against apparent infringements.  The Company'spatents, patent licenses and similar arrangements are also materialto its business. 

**SEASONALITY.**  TheSpecialty Products segment is the only portion of the operations ofthe Company that has any significant degree of seasonality. Most sales of the Company's charcoal briquets, insecticides andautomotive appearance product lines occur in the first six monthsof each calendar year.  Operating cash flow is used to buildinventories of those products in the off-season.

****

**CUSTOMERS AND ORDERBACKLOG.**  During fiscal years 2003,2002 and 2001, revenues from the Company's sales of its products toWal-Mart Stores, Inc. and its affiliated companies were 25 percent,23 percent and 20 percent, respectively, of the Company'sconsolidated net sales.  Except for this relationship, theCompany is not dependent upon any other single customer or group ofaffiliated customers.  Order backlog is not a significantfactor in the Company's business. 

****

**RENEGOTIATION.** None of the Company's operations is subject to renegotiation ortermination at the election of the federalgovernment. 

**COMPETITION.**  Themarkets for consumer products are highly competitive.  Most ofthe Company's products compete with other nationally advertisedbrands within each category and with "private label" brands and"generic" non-branded products of grocery chains and wholesalecooperatives.  Competition is encountered from similar andalternative products, many of which are produced and marketed bymajor national concerns having financial resources greater thanthose of the Company.  Depending on the product, the Company'sproducts compete on price, quality or other benefits to consumers.A newly introduced consumer product (whether improved or newlydeveloped) usually encounters intense competition requiringsubstantial expenditures for advertising and sales promotion. If a product gains consumer acceptance, it normally requirescontinuing advertising and promotional support to maintain itsrelative market position.

**RESEARCH ANDDEVELOPMENT.**  The Company incurredexpenses of approximately $76 million, $66 million and $67 millionin fiscal years 2003, 2002 and 2001, respectively, on researchactivities relating to the development of new products or themaintenance and improvement of existing products.  None ofthis research activity was customer-sponsored. 

**ENVIRONMENTALMATTERS.**  Historically, the Companyhas not made material capital expenditures for environmentalcontrol facilities or to comply with environmental laws andregulations.  However, in general, the Company anticipatesspending increasing amounts annually for facility upgrades and forenvironmental programs.  The amount of capital expendituresfor environmental compliance was not material in fiscal year 2003and is not expected to be material in the next fiscal year. For non-capital expenditures, see the discussions of EnvironmentalMatters Create Potential Liability Risks below and LegalProceedings in Item 3 below.

**NUMBER OF PERSONSEMPLOYED.**  At the end of fiscal year2003, the Company employed approximately 8,900people. 

**FORWARD-LOOKINGSTATEMENTS AND RISK FACTORS.**  Exceptfor historical information, matters discussed in this Form 10-K,including the "Management's Discussion and Analysis" section andstatements about future growth, are forward-looking statementsbased on management's estimates, assumptions and projections. In addition, from time to time, the Company may makeforward-looking statements relating to such matters as anticipatedfinancial performance, business prospects, new products, researchand development activities, plans for international expansion,acquisitions and similar matters.  The Private SecuritiesLitigation Reform Act of 1995 provides a safe harbor forforward-looking statements.  In order to comply with the termsof the safe harbor, the Company notes that a variety of factorscould cause the Company's actual results and experience to differmaterially from the anticipated results or other expectationsexpressed in the Company's forward-looking statements.  Theseforward-looking statements are uncertain.  The risks anduncertainties that may affect operations, performance, productdevelopment and results of the Company's business in a materialway, some of which may be beyond the control of the Company,include those discussed elsewhere in this Form 10-K, marketplaceconditions and events and the following:

**VOLUME GROWTH MAY BEDIFFICULT TO ACHIEVE**.  A largepercentage of the Company's revenues come from mature markets thatare subject to increased competition.  If the Company isunable to increase market share in existing product lines ordevelop or acquire and successfully launch new products, it may notachieve its growth objectives.

**OPERATING RESULTS ANDNET EARNINGS MAY NOT MEET EXPECTATIONS.** The Companycannot be sure that its operating results and net earnings willmeet its expectations.  If the Company's assumptions andestimates are incorrect or do not come to fruition, or if theCompany does not achieve all of its key goals, then the Company'sactual performance could vary materially from itsexpectations.  The Company's operating results and netearnings may be influenced by a number of factors, including thefollowing:
    - the introduction of newproducts and line extensions by the Company or itscompetitors;
    - the mix of products withvarying profitability sold in a given quarter;
    - the Company's ability tocontrol its internal costs;
    - the effectiveness of theCompany's advertising, marketing and promotionalprograms;
    - changes in productpricing policies by the Company or its competitors;
    - the ability of theCompany to maintain and enhance profit margins in the face of aconsolidating retail environment;
    - the ability of theCompany to achieve business plans, including volume growth andpricing plans, despite high levels of competitiveactivity;
    - the ability to maintainkey customer relationships;
    - the ability of majorcustomers and other debtors to meet their obligations as they comedue;
    - the failure of partiescontracting with the Company to perform their obligations and theloss of or inability to renew contracts of importance to theCompany's performance;
    - the ability tosuccessfully manage regulatory, tax and legal matters, includingresolution of pending matters within current estimates;
    - the ability of theCompany to attract and retain qualified personnel;
    - disruptions associatedwith staff reductions;
    - expenses for impairmentand obsolescence of property, plant and equipment in excess ofprojections;
    - expenses for impairmentof goodwill, trademarks and other intangible assets and equityinvestments in excess of projections;
    - significant increases inthe costs of key raw materials including but not limited to energy,resin, corrugated boxes, chlorine and caustic soda;
    - changes of accountingpolicies; 
    - significant increases ininterest rates, employee benefit costs, or insurancecosts;
    - the impact ofenvironmental remediation costs;
    - the impact of currencydevaluations and fluctuations; and
    - the impact of generaleconomic conditions in the United States and in other countries inwhich the Company currently does business.

In addition, sales volumegrowth, whether due to acquisitions or to internal growth, canplace burdens on the Company's management resources and financialcontrols that, in turn, can have a negative impact on operatingresults and net earnings.  To some extent, the Company setsits expense levels in anticipation of future revenues.  Ifactual revenue falls short of these expectations, operating resultsand net earnings are likely to be adverselyaffected. 

**OPERATIONS OUTSIDE THEUNITED STATES EXPOSE THE COMPANY TO UNCERTAIN CONDITIONS ININTERNATIONAL MARKETS.**  TheCompany's sales outside the United States were 15 percent of netsales in fiscal year 2003.  The Company has been and willcontinue to be facing substantial risks associated with havingforeign operations, including:
    - economic or politicalinstability in its international markets; and
    - fluctuations in foreigncurrency exchange rates that may make the Company's products moreexpensive in its international markets or negatively impact salesor earnings.

Refer to the informationset forth under the caption "South America Economic, Social andPolitical Conditions" in "Management's Discussion and Analysis;" onpage D-11 of Exhibit 99-1 hereto, incorporated herein byreference.

These factors contributedto the Company taking substantial impairment charges related to itsinternational operations in fiscal year 2003 and, due touncertainties and possible deterioration in the overseas markets,the Company may have to take additional charges in thefuture.  Refer to the information set forth under the captions"Household Products-Latin America/Other;" and "Critical AccountingPolicies" in "Management's Discussion and Analysis" on pages D-6and D-7 and D-14 to D-17, respectively, and to Note 6 to "Notes toConsolidated Financial Statements" regarding Goodwill, Trademarksand Other Intangible Assets on pages D-33 and D-34, of Exhibit 99-1hereto, incorporated herein by reference.   In addition,these risks could have a significant impact on the Company'sability to sell its products on a timely and competitive basis ininternational markets and may have a material adverse effect on theCompany's results of operations or financial position.  Also,the Company's operations outside the United States are subject tothe risk of new and different legal and regulatory requirements inlocal jurisdictions, potential difficulties in staffing andmanaging local operations, credit risk of local customers anddistributors and potentially adverse tax consequences.  TheCompany's small volume in some countries, relative to somemultinational and local competitors, could exacerbate suchrisks.

**IMPLEMENTATION OF ERP SYSTEM MAY NOT BESUCCESSFUL.**  TheCompany is in the process of implementing enterprise resourceplanning system software.  This software is designed toimprove internal systems and to support business processes. The order fulfillment process was implemented in fiscal year 2003.In fiscal year 2004, the procurement and manufacturing processeswill be implemented.  If the Company fails to implement thesoftware successfully, visibility to inventory levels could beadversely impacted resulting in excess inventory and increasedworking capital requirements or excess out-of-stock conditions andreduced sales.  To minimize risk, the Company has dedicatedsubstantial resources to this project and will implement thesoftware in a staged fashion.  As a result, the Company willhave to manage in a multiple system environment for a significantperiod of time.  Employing multiple systems increases the riskthat system interfaces will fail, resulting in loss of data orinability to process transactions. 

**IDENTIFICATION OF GOODACQUISITION CANDIDATES MAY BE DIFFICULT AND INTEGRATION ANDMANAGEMENT OF ACQUISITIONS MAY NOT BE SUCCESSFUL.**  One of the Company's strategies is to increase itssales volumes, earnings and the markets it serves throughacquisitions of, or joint ventures with, other businesses in theUnited States and internationally.  There can be no assurancethat the Company will be able to identify, acquire, or profitablymanage additional companies or operations or that it will be ablesuccessfully to integrate future acquisitions into its operationsor to identify, negotiate and manage joint ventureopportunities.  In addition, there can be no assurance thatcompanies or operations acquired or joint ventures created will beprofitable at their inception or that they will achieve saleslevels and profitability that justify the investmentsmade.

**DISPOSITION OFNON-STRATEGIC BUSINESSES MAY NOT BE SUCCESSFUL. **The Company engages in an ongoing review of itsportfolio of businesses. If it decides that a business no longersupports the Company's strategic direction, the Company may attemptto sell that business. There can be no assurance that any suchdisposition will occur, that, if it occurs, it will be at a pricesufficient to recover the book value of the business disposed of orthat the proceeds will be sufficient to avoid reducingearnings. 

**FINANCIAL PERFORMANCEDEPENDS ON CONTINUOUS AND SUCCESSFUL NEW PRODUCTINTRODUCTIONS.**  In most categoriesin which the Company competes, there are frequent introductions ofnew products and line extensions.  An important factor in theCompany's future performance will be its ability to identifyemerging consumer and technological trends and to maintain andimprove the competitiveness of its products.  The Companycannot be sure that it will successfully achieve those goals. Continued product development and marketing efforts have inherentrisks, including development delays, the failure of new productsand line extensions to achieve anticipated levels of marketacceptance and the cost of failed productintroductions. 

 

**GOVERNMENT REGULATIONSCOULD IMPOSE MATERIAL COSTS. **Generally, the manufacture, packaging, labeling, storage, anddistribution of the Company's products and the conduct of theCompany's business operations must all comply with extensivefederal, state and foreign laws and regulations.  For example,in the United States, many of the Company's products are regulatedby the Environmental Protection Agency, the Food and DrugAdministration and the Consumer Product Safety Commission. Most states have agencies that regulate in parallel to thesefederal agencies.  The failure to comply with applicable lawsand regulations in these or other areas, including tax laws, couldsubject the Company to civil remedies, including fines,injunctions, recalls or asset seizures, as well as potentialcriminal sanctions, any of which could have a material adverseeffect on the Company.  Loss of or failure to obtain necessarypermits and registrations could delay or prevent the Company frommeeting current product demand, introducing new products, buildingnew facilities or acquiring new businesses and could adverselyaffect operating results, particularly with respect to theCompany’s charcoal business.  It is possible that thegovernment will increase regulation of the transportation, storageor use of certain chemicals to enhance homeland security or protectthe environment and that such regulation could negatively impactraw material supply or costs.  

****

**ENVIRONMENTAL MATTERSCREATE POTENTIAL LIABILITY RISKS.** The Company must comply with various environmental laws andregulations in the jurisdictions in which it operates, includingthose relating to air emissions, water discharges, the handling anddisposal of solid and hazardous wastes and the remediation ofcontamination associated with the use and disposal of hazardoussubstances. The Companyhandles hazardous chemicals in quantity at its plant sites.  Arelease of such chemicals due to accident or an intentional actcould result in substantial liability for the Company togovernmental authorities or to third parties. The Company has incurred, and will continue to incur,capital and operating expenditures and other costs in complyingwith environmental laws and regulations and in providing physicalsecurity for its worldwide operations.  The Company iscurrently involved in or has potential liability with respect tothe remediation of past contamination in the operation of some ofits presently and formerly owned and leased facilities.  Inaddition, some of the Company's present and former facilities havebeen or had been in operation for many years, and over that time,some of these facilities may have used substances or generated anddisposed of wastes that are or may be considered hazardous. It is possible that those sites, as well as disposal sites owned bythird parties to which the Company has sent waste, may in thefuture be identified and become the subject of remediation. It is possible that the Company could become subject to additionalenvironmental liabilities in the future that could result in amaterial adverse effect on the Company's results of operations orfinancial condition.

**FAILURE TO PROTECT ORSUCCESSFULLY TO ASSERT THE COMPANY'S INTELLECTUAL PROPERTY RIGHTSCOULD IMPACT ITS COMPETITIVENESS.** The Company relies on trademark, trade secret, patent and copyrightlaws to protect its intellectual property rights.  The Companycannot be sure that these intellectual property rights will beprotected or maximized such that they can be successfully asserted.There is a risk that the Company will not be able to develop,locate or, where appropriate, license intellectual property rightsnecessary to support new product introductions.  The Companycannot be sure that these rights, if obtained, will not beinvalidated, circumvented or challenged in the future.  Inaddition, even if such rights are obtained in the United States,the laws of some of the other countries in which the Company'sproducts are or may be sold do not protect the Company'sintellectual property rights to the same extent as the laws of theUnited States.  The failure of the Company to perfect orsuccessfully assert its intellectual property rights could make itless competitive and could have a material adverse effect on theCompany's business, operating results and financialcondition. 

**IF THE COMPANY IS FOUNDTO HAVE INFRINGED THE INTELLECTUAL PROPERTY RIGHTS OF OTHERS ITCOULD IMPACT THE COMPANY'S COMPETITIVENESS.**** ** It is possible that the Company will be found tohave violated the trademark, trade secret, copyright, patent orother intellectual property rights of others.  Such a findingcould result in the need to cease use of a trademark, trade secret,copyrighted work or patented invention in the Company's businessand to pay a substantial amount for past infringement.  Itcould also be necessary to pay a substantial amount in the futureif the rights holder is willing to permit the Company to continueto use the intellectual property right.  Either having tocease use or pay such amounts could make the Company lesscompetitive and could have a material adverse impact on theCompany's business, operating results and financialcondition.

**VOLATILITY IN THEINSURANCE MARKET MAY RESULT IN ADDITIONAL COSTS AND REDUCEDCOVERAGE.**  The Company will seek torenew or replace various contracts for insurance coverage duringthe year.  Trends in the insurance industry suggest that suchcontracts may be much more expensive, less protective or evenunavailable.  In such a case the Company may decide toself-insure more, thereby undertaking additionalrisks. 

****

The foregoing list ofimportant factors is not all-inclusive.  The forward-lookingstatements are and will be based on management's then current viewsand assumptions regarding future events and operating performanceand speak only as of their dates.  The Company undertakes noobligation to publicly update or revise any forward-lookingstatements, whether as a result of new information, future events,or otherwise.

**(d) FINANCIAL INFORMATION ABOUT FOREIGN AND DOMESTICOPERATIONS.**

The following table showsnet sales and assets by geographic area for the last three fiscalyears:
| **Net Sales By GeographicArea:** |                                     |                                           |                                           |  |
|----------------------------------|-------------------------------------|-------------------------------------------|-------------------------------------------|--|
|                                  |                                     |                                           |                                           |  |
| (Millions)                       | 2003                                | 20021                                     | 20011                                     |  |
| Foreign                          |    $   604 |    $   629       |   $     655 |  |
| United States                    |    $3,540            |    $3,393                  |    $  3,204           |  |
|                                  |                                     |                                           |                                           |  |
| **Assets at June30:**            |                                     |                                           |                                           |  |
|                                  |                                     |                                           |                                           |  |
| (Millions)                       | 2003                                | 20021                                     | 20011                                     |  |
| Foreign                          |    $   737 |    $    729 |    $  1,139           |  |
| United States                    |    $2,915            |     $2,795                 |    $  2,889           |  |
|                                  |                                     |                                           |                                           |  |

1Fiscal year 2002 and 2001 numbers were reclassified toreflect the Company's Brazilian business as a discontinuedoperation (refer to the information set forth under the caption"Reclassifications," on page D-22 of Exhibit 99-1 hereto,incorporated herein by reference) and to reclassify Puerto Ricansales from foreign to domestic. 

**(e)****AVAILABLE INFORMATION **

The Company's AnnualReport on Form 10-K, Quarterly Reports on Form 10-Q andCurrent Reports on Form 8-K are available on the Company'sInternet website, free of charge, as soon as reasonably practicableafter the reports are electronically filed with or furnished to theUnited States Securities and Exchange Commission. These reports areavailable at www.clorox.com, under "Investor Relations."

**ITEM 2. PROPERTIES**

**PRODUCTION ANDDISTRIBUTION FACILITIES.** The Company owns and operates 22 manufacturingfacilities in the United States, 11 of which serve primarily theHousehold Products—North America segment and 11 of which serve primarily theSpecialty Products segment.  The Company owns and operates 23manufacturing facilities internationally, which serve primarily theHousehold Products—Latin America/Other segment.  TheCompany also leases and operates 3 regional distribution centers inthe United States which serve primarily the HouseholdProducts—North America and Specialty Products segments, andowns and operates regional distribution centers in Canada andChile, which serve primarily the Household Products—NorthAmerica and Household Products—Latin America/Other segments,respectively.  Management believes that the Company'sproduction and distribution facilities, together with additionalfacilities owned or leased and operated by various unaffiliatedfinished product suppliers and distribution center serviceproviders that serve the Company, are adequate to support thebusiness efficiently and that the Company's properties andequipment have been well maintained.

**OFFICES AND RESEARCHAND DEVELOPMENT FACILITIES.**  TheCompany owns its general office building located in Oakland,Calif.  The Company also owns its Technical Center and DataCenter located in Pleasanton, Calif.  The Company leases itsresearch and development center and its engineering researchfacility for *Glad®* and *GladWare®* products,which are located in Willowbrook, Ill. and Kennesaw, Ga.,respectively.  The Company owns a research and developmentfacility at its plant in Aldo Bonzi, Argentina.  The Companyalso leases its research and development center for *STP®*products located in Brookfield, Conn. and for *Armor All®*products located in Walnut Creek, Calif.  Leased sales andother office facilities are located at a number of otherlocations.

**ENCUMBRANCES**. None of the Company's owned facilities are encumbered to securedebt owed by the Company. 

**ITEM 3.  LEGALPROCEEDINGS**

The Company is involved incertain environmental matters, including Superfund and otherresponse actions at various locations, the most significant ofwhich relates to historical disposals of wood tars by a predecessorof the Company's Kingsford Products Company subsidiary during the1950's in and around the City of Kingsford, Mich.  Although noformal governmental proceedings are pending, response actions atthe Michigan site are being performed by the Company and the FordMotor Company under the supervision of the Michigan Department ofEnvironmental Quality. 

The potential cost to theCompany related to ongoing environmental matters is uncertain dueto such factors as: the unknown magnitude of possible pollution andclean-up costs; the complexity and evolving nature of laws andregulations and their interpretations; and the timing, varyingcosts and effectiveness of alternative clean-up technologies. As of June 30, 2003, $17.4 million was accrued for such probablefuture costs, without discounting for presentvalue. 

**ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITYHOLDERS**

None.

****

**EXECUTIVE OFFICERS OFTHE REGISTRANT**.

The names, ages as of July31, 2003 and current positions of the executive officers of theCompany are set forth below:

Name, Age and

Year Elected to CurrentPosition                Title and Current Position(s)

 

G. C.Sullivan            (63)           1992     Chairman of the Board

G. E.Johnston           (56)           2003     President and Chief ExecutiveOfficer

R. T.Conti                (48)           1999     Group Vice President

L. S.Peiros               (48)           1999     Group Vice President

K. M.Rose1             (54)           1997     Group Vice President—ChiefFinancial Officer

P. D.Bewley            (56)           1998     Senior Vice President—GeneralCounsel and Secretary

F. A.Tataseo            (49)           1999     Senior VicePresident—Sales

W. L.Delker            (49)           1999     Vice President—Research &Development

W. L.Every-Burns    (50)           2001     Vice President—General Manager,Asia Pacific

G. S.Frank               (43)           2001     VicePresident—Treasurer

D. J.Heinrich2          (47)           2003     Vice President—Chief FinancialOfficer

----

1Ms.Rose has announced her intention to retire effective October 1,2003.

2Mr.Heinrich, currently vice president-controller, was elected vicepresident – chief financial officer effective October 1,2003.

T.D.Johnson3           (43)           2003     VicePresident—Controller

P. S.Hewitt              (51)           2003     Vice President—HumanResources

M. J.Richenderfer    (42)           2002     Vice President—SupplyChain

G. C.Roeth              (42)           2002     Vice President—Growth andMarketing

G. R.Savage            (47)           2002     Vice President—General Manager,Laundry and Home Care

M. B.Springer          (38)           2002     Vice President—General Manager,Glad Products

K. R.Tandowsky      (45)           1998     Vice President—Chief InformationOfficer

S. A.Weiss              (46)           2000     Vice President—General Manager,Brita and Canada

----

3Mr.Johnson was elected vice president-controller effective October 1,2003.

There is no familyrelationship between any of the above-named persons, or between anyof such persons and any of the directors of the Company or anyperson nominated for election as a director of the Company. See Item 10 of Part III of this Form 10-K.

G.C. Sullivan, P.D.Bewley, K.M. Rose and K.R. Tandowsky have been employed by theCompany for at least the past five years in the same respectivepositions as listed above.  Until July 1, 2003, Mr. Sullivanwas also chief executive officer.

G. E. Johnston was electedpresident and chief executive officer effective July 2003.  Hejoined the Company in July 1981 as regional sales manager-specialmarkets.  He was vice president-corporate development fromJune 1992 through November 1993, vice president-Kingsford Productsfrom November 1993 through June 1996, group vice president fromJuly 1996 through January 1999 and president and chief operatingofficer from January 1999 through June 2003.

R. T. Conti joined theCompany in 1981 as associate region sales manager-householdproducts.  Prior to his election as group vice presidenteffective September 1999, he was vice president-general manager ofKingsford Products from July 1996 through August 1999 and vicepresident-international from June 1992 through June1996.

L. S. Peiros joined theCompany in 1982 as a brand assistant.  He was elected groupvice president effective January 1999.  Prior to that, heserved as vice president-household products from June 1998 throughJanuary 1999, vice president-food products from July 1995 throughJune 1998 and vice president-corporate marketing services fromSeptember 1993 until July 1995.

F. A. Tataseo joined theCompany in October 1994 as vice president-sales and was elected assenior vice president-sales effective September 1999.

W. L. Delker joined theCompany as vice president-research and development in August1999.  Prior to that, he was general manager of Six SigmaQuality for GE Silicones, a division of GE Plastic, from February1998 through July 1999 and general manager of technology for GESilicones from January 1994 through January 1998.

W. L. Every-Burnsjoined the Company in 1999 as part of the FirstBrands merger.  Prior to his election as vicepresident-general manager, Asia-Pacific division effective August,2001, he was vice president-general manager, Australia, NewZealand, Africa and Greater China from November 2000 through July2001; vice president-general manager, Australia, New Zealand andAfrica from September 1999 through October 2000; and generalmanager of the Glad products companies in Australia and NewZealand, from July 1995 through September 1999.

G. S. Frank joined theCompany in 1982 as a staff accountant.  Prior to his electionas vice president-treasurer effective March 2001, he was vicepresident-controller from October 1999 through February 2001,general manager-Korea from September 1998 through September 1999,director of finance-Kingsford Products from 1997 through August1998, director of finance-Armor All products from 1996 to 1997,director of finance-food products from 1995 to 1996 and director ofcorporate financial planning from 1994 to 1995.

D. J.Heinrich was elected vice president-chief financial officereffective October 2003.  Prior to that, he had joined theCompany in March 2001 as vice president-controller.  FromOctober 1996 through February 2001, he was employed by TransamericaCorporation, most recently as senior vice president-treasurer,Transamerica Finance Corporation.  Prior to that, he wasemployed by Granite Management Corporation, an indirect subsidiaryof Ford Motor Company, as senior vice president-treasurer andcontroller.

P. S. Hewitt joined theCompany as vice president–human resources in January2003.  Prior to joining Clorox, Hewitt spent 10 years at TheQuaker Oats Company.  She joined The Quaker Oats Company inSeptember 1992 as manager-human resources, Pet Foods. In June 1994she became director-human resources, Quaker Oats Beverages of NorthAmerica and, in May 1997, she was appointed vice president-humanresources for that division.  In March 1998, Hewitt was namedsenior vice president-human resources for The Quaker OatsCompany.

T. D. Johnson was electedvice president-controller, effective October 2003.  He joinedthe Company in 1988 as a senior internal auditor and subsequentlyheld positions of increasing responsibility in finance andaccounting, business development, and marketing.  He served asmanager of business development from 1996 to 1999 and as directorof finance for the Company's automotive products business from 1999to 2001.  In May 2001, he was appointed vice president offinance and accounting for the Company's specialty productsbusiness. 

M. J. Richenderfer joinedthe Company in May, 2002 as vice president-supply chain. Prior to this, from June 1993 through April2002, he was employed by Nestlé S.A., most recently as vicepresident-supply chain in Vevey, Switzerland (Nestlé GlobalHeadquarters).  He held various other positions atNestlé including vice president-finance & IS for the petcare division and vice president and assistant generalmanager-Nestlé Distribution Company.  Prior to that, hewas employed by Kraft General Foods where he held various positionsin operations, finance, supply chain and sales.

G. C. Roeth joined thecompany in 1987 as a brand assistant in the marketingorganization.  Prior to becoming vice president-growth andmarketing effective June 2003, he was vice president-growth andstrategy effective August 2002, vice president-marketing from April2000 through July 2002, vice president-brand marketing from October1999 through March 2000; marketing director-Brita from February1998 through September 1999, group marketing manager for Brita fromOctober 1996 through January 1998 and for home cleaning fromJanuary 1994 through September 1996. 

G. R. Savage joined theCompany in 1983 as an associate marketing manager.  Prior tohis election as vice president-general manager, laundry and homecare effective as of August 2002, he was vice president-generalmanager, Glad products from January 1999 through July 2002. Prior to that, he served as vice president-food products fromDecember 1997 through January 1999 and director of marketing forthe household products business from 1993 to November1997.

M. B. Springer was electedvice president-general manager, Glad Products, effective October2002. She joined the Company in 1990 as an associate marketingmanager in household products and subsequently held marketingpositions of increasing responsibility with the Company's litterand home care businesses.  In October 1999, Ms. Springer wasappointed vice president-marketing, Glad Products where she serveduntil her present appointment except that she worked in theCompany's "cut costs everywhere" program during a portion of fiscalyear 2002.

S. A. Weiss joined theCompany in 1994 as an area general manager for the Pacific-Rimbusiness.  He was elected vice president-general manager,Brita and Canada in March 2000.  Prior to that, he was vicepresident-general manager, food & professional products fromFebruary 1999 to March 2000, vice president-Asia-Middle East fromJune 1998 through January 1999 and he held the position of areageneral manager-Asia-Middle East from 1994 until his election as anofficer.

****

**PART II**

**ITEM 5.  MARKETFOR REGISTRANT'S COMMON EQUITY AND RELATED STOCKHOLDERMATTERS**

**(a)  MARKETINFORMATION.**

The principal markets forthe Company's common stock are the New York Stock Exchange and thePacific Exchange.  The high and low sales prices quoted forNew York Stock Exchange-Composite Transactions Report for eachquarterly period during the past two fiscal years appear in Note 22- Quarterly Data (Unaudited) of the Notes to Consolidated FinancialStatements, which appears on pages D-51and D-52 of Exhibit 99-1hereto, incorporated herein by reference.

****

**(b) HOLDERS.**

The approximate number ofrecord holders of the Company's common stock as of July 31, 2003was 14,784 based on information provided by the Company's transferagent. 

**(c) DIVIDENDS.**

The amount of quarterlydividends paid with respect to the Company's common stock duringthe past two fiscal years appears in Note 22 - Quarterly Data(Unaudited) of the Notes to Consolidated Financial Statements,which appears on pages D-51 and D-52 of Exhibit 99-1 hereto,incorporated herein by reference.

**(d)EQUITY COMPENSATION PLAN INFORMATION.**

****

This information appearsin Part III, Item 12(a) hereof.

****

**ITEM 6. SELECTED FINANCIAL DATA**

This information appearsunder "Five-Year Financial Summary," on page D-55 of Exhibit 99-1hereto, incorporated herein by reference.

**ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION ANDRESULTS OF OPERATION**

This information appearsunder "Management's Discussion and Analysis," on pages D-2through

D-17 of Exhibit 99-1hereto, incorporated herein by reference. 

**ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKETRISK**

This information appearsunder "Market-Sensitive Derivatives and Financial Instruments" inthe "Management's Discussion and Analysis," on pages D-11 and D-12of Exhibit 99-1 hereto, incorporated herein byreference.

**ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA**

These statements and dataappear on pages D-18 through D-55 of Exhibit 99-1 hereto,incorporated herein by reference.

**ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING ANDFINANCIAL DISCLOSURE**

****

The Audit Committee of theCompany's Board of Directors reported last year that, because of aconsulting engagement between the Company and Deloitte Consulting,the engagement of Deloitte & Touche LLP as the Company'sauditors would be terminated unless Deloitte & Touche LLP andDeloitte Consulting separated from each other before December 31,2002. The proposed split between the two Deloitte organizations didnot occur by that date. The Audit Committee, therefore, dismissedDeloitte & Touche LLP on February 15, 2003, after the review ofthe Company's financial statements for the quarter ended December31, 2002 had been completed.

Deloitte & ToucheLLP's report on the Company's consolidated financial statements asof and for the fiscal years ended June 30, 2002 and 2001 did notcontain an adverse opinion or disclaimer of opinion and was notqualified or modified as to uncertainty, audit scope or accountingprinciples.

The decision to changeaccountants was made by the Audit Committee of the Board ofDirectors of the Company.

During the Company's twomost recent fiscal years and the subsequent period through February15, 2003, there were no disagreements (as that term is used in Item304(a)(1)(iv) of Regulation S-K) between the Company and Deloitte& Touche LLP on any matter of accounting principles orpractices, financial statement disclosure, or auditing scope orprocedure, which disagreement(s), if not resolved to thesatisfaction of Deloitte & Touche LLP, would have caused it tomake reference to the subject matter of the disagreement(s) inconnection with its reports.

There have been no"reportable events" (as that term is used in Item 304(a)(1)(v) ofRegulation S-K) during the Company's last two fiscal years and thesubsequent period through February 15, 2003.

The Audit Committee, afterreviewing proposals from those accounting firms without prohibitedconflicts and conducting interviews with those firms, on February15, 2003, engaged Ernst & Young LLP as the Company's auditorsfor fiscal year 2003.

**ITEM 9A. CONTROLS AND PROCEDURES**

The Company maintainsdisclosure controls and procedures designed to ensure thatinformation required to be disclosed in reports filed under theSecurities Exchange Act of 1934, as amended, is recorded,processed, summarized and reported within the specified timeperiods.  The chief executive officer and chief financialofficer of the Company, with the participation of the Company'smanagement, have evaluated the effectiveness of the Company'sdisclosure controls and procedures as of June 30, 2003 and, basedon that evaluation, which disclosed no significant deficiencies ormaterial weaknesses, have concluded that such disclosure controlsand procedures are effective.  During the fourth quarter offiscal year 2003, there have not been any significant changes inthe Company's internal controls over financial reporting or inother factors that could significantly affect internal controlsover financial reporting.

**PARTIII**

**ITEM 10. DIRECTORS AND EXECUTIVE OFFICERS OF THEREGISTRANT**

Information regarding eachnominee for election as a director, including those who areexecutive officers of the Company, appears under "Nominees forElection as Directors" of the Proxy Statement, incorporated hereinby reference.

Pursuant to Instruction 3to Item 401(b) of Regulation S-K, information regarding theexecutive officers of the registrant is reported in Part I of thisReport.

Pursuant to the terms ofItem 401(h) of Regulation S-K, the board of directors of theCompany has determined that the Company has at least one financialexpert serving on its audit committee—Robert W. Matschullat,who is "independent" as that term is used in Item 7(d)(3)(iv) ofSchedule 14A (17 C.F.R. 240.14a-101) under theSecurities Exchange Act of 1934, as amended.** **

****

The information requiredby Item 405 of Regulation S-K appears under "Section 16(a)Beneficial Ownership Reporting Compliance" of the Proxy Statement,incorporated herein by reference.

The Company has adopted acode of ethics that applies to its principal executive officer,principal financial officer and controller, among others.  Thecode of ethics is located on the Company's Internet website atwww.clorox.com under "Company Information."  The Companyintends to satisfy the requirement under Item 10 of Form 8-Kregarding disclosure of amendments to, or waivers from, provisionsof its code of ethics by posting such information on the Company'sInternet website.

**ITEM 11. EXECUTIVE COMPENSATION**

The information requiredby Item 402 of Regulation S-K appears under "Organization of theBoard of Directors," "Compensation Interlocks and InsiderParticipation," "Summary Compensation Table," "Options and StockAppreciation Rights," "Comparative Stock Performance," and "PensionBenefits" of the Proxy Statement, all incorporated herein byreference.

**ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT ANDRELATED STOCKHOLDER MATTERS**

**(a) ****EQUITY COMPENSATION PLANINFORMATION**

The following table setsout the number of Company securities to be issued upon exercise ofoutstanding options, warrants and rights, the weighted averageexercise price of outstanding options, warrants and rights and thenumber of securities available for future issuance under equitycompensation plans.  Additional information concerning theCompany's equity compensation plans appears in Note 14 - StockCompensation Plans of the Notes to Consolidated FinancialStatements, which appears on pages D-40, D-41 and D-42 of Exhibit99-1 hereto, incorporated herein by reference.
|                                              | [a]                                                                                                      | [b]                                                                        | [c]                                                                                                                                                                 |
|----------------------------------------------|----------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Plan category                                | Number ofsecurities to be issued upon exercise of outstanding options,warrants and rights (in thousands) | Weighted-average exercise price of outstandingoptions, warrants and rights | Number ofsecurities remaining for future issuance under non-qualifiedstock-based compensation programs (excluding securities reflectedin column (a))

(inthousands) |
|                                              |                                                                                                          |                                                                            |                                                                                                                                                                     |
| Equity compensationplans                     |                                                                                                          |                                                                            |                                                                                                                                                                     |
|    approved bysecurity holders     | 15,529                                                                                                   | 33                                                                         | 11,237                                                                                                                                                              |
|                                              |                                                                                                          |                                                                            |                                                                                                                                                                     |
| Equity compensationplans                     |                                                                                                          |                                                                            |                                                                                                                                                                     |
|    not approvedby security holders | None                                                                                                     |                                                                            |                                                                                                                                                                     |

****

**(b) SECURITY OWNERSHIPOF CERTAIN BENEFICIAL OWNERS.**

Information concerning theonly entity or person known to the Company to be the beneficialowner of more than 5 percent of its common stock appears under"Beneficial Ownership of Voting Securities" of the Proxy Statement,incorporated herein by reference.

**(c)  SECURITYOWNERSHIP OF MANAGEMENT.**

Information concerning thebeneficial ownership of the Company's common stock by each nomineefor election as a director and by all directors and executiveofficers as a group appears under "Beneficial Ownership of VotingSecurities" of the Proxy Statement, incorporated herein byreference.

##### **ITEM13.  CERTAIN RELATIONSHIPS AND RELATEDTRANSACTIONS**

Information concerningtransactions with directors, nominees for election as directors,management and the beneficial owner of more than 5 percent of theCompany's common stock appears under "Certain Relationships andTransactions" of the Proxy Statement, incorporated herein byreference.

****

**ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES** 

Information concerningprincipal accountant fees and services appears under "AuditCommittee Report" of the Proxy Statement, incorporated herein byreference.

**PARTIV**

**ITEM 15. EXHIBITS, FINANCIAL STATEMENT SCHEDULES AND REPORTS ON FORM8-K**

(a)  (1) Financial Statements:

Consolidated FinancialStatements and Independent Auditors' Reports included in Exhibit99-1 hereto, incorporated herein by reference:

Consolidated Statements ofEarnings for the years ended June 30, 2003, 2002 and2001

Consolidated BalanceSheets as of June 30, 2003 and 2002

Consolidated Statements ofStockholders' Equity for the years ended June 30, 2003, 2002 and2001

Consolidated Statements ofCash Flows for the years ended June 30, 2003, 2002 and2001

Notes to ConsolidatedFinancial Statements

Independent Auditors'Reports

(2)  FinancialStatement Schedules have been omitted because of the absenceofconditions under which they are required,or because the information is shown elsewhere in this Form 10-K,including Exhibit 99-1, except as follows: 
|                                                             Valuation and Qualifying Accounts and Reserves ($million) |                         |         |           |           |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------|---------|-----------|-----------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                   |                         |         |           |           |  |  |  |  |  |  |  |
| ColumnA                                                                                                                                                                                                                                                                                                                                                                                                                           |                         | ColumnB |           | ColumnC   |  | ColumnD |  | ColumnE |
|                                                                                                                                                                                                                                                                                                                                                                                                                                   |                         |         |           |           |  |  |  |  |
| Description                                                                                                                                                                                                                                                                                                                                                                                                                       |                         |         |           | Additions |  | Deductions |  |  |
|                                                                                                                                                                                                                                                                                                                                                                                                                                   |                         |         |           |           |  |  |  |  |
|                                                                                                                                                                                                                                                                                                                                                                                                                                   |                         |         | Balanceat |           | Chargedto |  | Chargedto |  |  |  | Balanceat |
|                                                                                                                                                                                                                                                                                                                                                                                                                                   |                         |         | beginning |           | costsand |  | other |  |  |  | end |
|                                                                                                                                                                                                                                                                                                                                                                                                                                   |                         |         | ofperiod  |           | expenses |  | accounts |  |  |  | ofperiod |
|                                                                                                                                                                                                                                                                                                                                                                                                                                   |                         |         |           |           |  |  |  |  |  |  |  |
| Allowance for doubtfulaccounts                                                                                                                                                                                                                                                                                                                                                                                                    |                         |         |           |           |  |  |  |  |  |  |
|                                                                                                                                                                                                                                                                                                                                                                                                                                   | Year ended June 30,2003 |         | (15)      |           | (4) |  |  |  | 9 |  | (10) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                   | Year ended June 30,2002 |         | (15)      |           | (11) |  | 4 |  | 7 |  | (15) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                   | Year ended June 30,2001 |         | (12)      |           | (5) |  |  |  | 2 |  | (15) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                   |                         |         |           |           |  |  |  |  |  |  |  |
| Allowance for inventoryobsolescence                                                                                                                                                                                                                                                                                                                                                                                               |                         |         |           |           |  |  |  |  |  |  |
|                                                                                                                                                                                                                                                                                                                                                                                                                                   | Year ended June 30,2003 |         | (12)      |           | (8) |  |  |  | 17 |  | (3) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                   | Year ended June 30,2002 |         | (48)      |           | (15) |  |  |  | 51 |  | (12) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                   | Year ended June 30,2001 |         | (15)      |           | (53) |  |  |  | 20 |  | (48) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                   |                         |         |           |           |  |  |  |  |  |  |  |
| Valuation allowance ondeferred tax assets                                                                                                                                                                                                                                                                                                                                                                                         |                         |         |           |           |  |  |  |  |  |  |
|                                                                                                                                                                                                                                                                                                                                                                                                                                   | Year ended June 30,2003 |         | (66)      |           | (31) |  |  |  |  |  | (97) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                   | Year ended June 30,2002 |         | (28)      |           | (38) |  |  |  |  |  | (66) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                   | Year ended June 30,2001 |         | (29)      |           | 1 |  |  |  |  |  | (28) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                   |                         |         |           |           |  |  |  |  |  |  |  |
| Environmentalreserve                                                                                                                                                                                                                                                                                                                                                                                                              |                         |         |           |           |  |  |  |  |  |  |
|                                                                                                                                                                                                                                                                                                                                                                                                                                   | Year ended June 30,2003 |         | (17)      |           | (2) |  |  |  | 2 |  | (17) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                   | Year ended June 30,2002 |         | (10)      |           | (9) |  |  |  | 2 |  | (17) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                   | Year ended June 30,2001 |         | (7)       |           | (2) |  | (3) |  | 2 |  | (10) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                   |                         |         |           |           |  |  |  |  |  |  |  |
| LIFO allowance                                                                                                                                                                                                                                                                                                                                                                                                                    |                         |         |           |           |  |  |  |  |  |  |
|                                                                                                                                                                                                                                                                                                                                                                                                                                   | Year ended June 30,2003 |         | (11)      |           | 3 |  |  |  |  |  | (8) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                   | Year ended June 30,2002 |         | (11)      |           |  |  |  |  |  |  | (11) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                   | Year ended June 30,2001 |         | (10)      |           | (1) |  |  |  |  |  | (11) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                   |                         |         |           |           |  |  |  |  |  |  |  |
| Restructuringreserve                                                                                                                                                                                                                                                                                                                                                                                                              |                         |         |           |           |  |  |  |  |  |  |
|                                                                                                                                                                                                                                                                                                                                                                                                                                   | Year ended June 30,2003 |         | (14)      |           |  |  |  |  | 8 |  | (6) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                   | Year ended June 30,2002 |         | (11)      |           | (32) |  |  |  | 29 |  | (14) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                   | Year ended June 30,2001 |         | (16)      |           | (4) |  |  |  | 9 |  | (11) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                   |                         |         |           |           |  |  |  |  |  |  |  |

(3)  See the Index toExhibits that is included herein.  The following aremanagement contracts and compensatory plans orarrangements:

Long-Term CompensationProgram dated October 21, 1987, amended November 17,

1993, which was adopted bythe shareholders at the Company's annual meeting of shareholders onNovember 17, 1993 (filed as Exhibit 10(i) to the Annual Report onForm 10-K for the year ended June 30, 2002, incorporated herein byreference)

1993 Directors' StockOption Plan dated November 17, 1993, which was adopted by theshareholders at the Company's annual meeting of shareholders onNovember 17, 1993 (filed as Exhibit 10(vii) to the Annual Report onForm 10-K for the year ended June 30, 2002, incorporated herein byreference)

Supplemental ExecutiveRetirement Plan Restated (July 17, 1991, amended May 18, 1994,January 17, 1996 and January 19, 2000) (filed as Exhibit 10(vi) tothe Annual Report on Form 10-K for the year ended June 30, 2002,incorporated herein by reference)

Officer EmploymentAgreement (form) (filed as Exhibit 10(viii) to the Annual Report onForm 10-K for the year ended June 30, 2002, incorporated herein byreference)

Officer Change of ControlEmployment Agreement (form)(filed as Exhibit10(ix) to the Annual Report on Form 10-K for the year ended June30, 2002, incorporated herein by reference)

Non-Qualified DeferredCompensation Plan (filed as Exhibit 10(x) to the Annual Report onForm 10-K for the year ended June 30, 2002, incorporated herein byreference)

The Clorox Company 1995Performance Unit Plan (filed as Exhibit 10(xi) to the Annual Reporton Form 10-K for the year ended June 30, 2002, incorporated hereinby reference)

The Clorox Company 1996Stock Incentive Plan, amended and restated as of July 19, 2001,which was adopted by the shareholders at the Company's annualmeeting of shareholders on November 28, 2001  (filed asExhibit 10(xii) to the Annual Report on Form 10-K for the yearended June 30, 2001, incorporated herein by thisreference)

The Clorox Company 1996Executive Incentive Compensation Plan, amended and restated as ofJuly 17, 2002, attached hereto as Exhibit 10(xiii)

The Clorox CompanyIndependent Directors' Stock-Based Compensation Plan (filed asExhibit 10(xiv) to the Annual Report on Form 10-K for the yearended June 30, 2002, incorporated herein by reference)

The Clorox CompanyManagement Incentive Compensation Plan, amended and restated as ofJuly 17, 2002, attached hereto as Exhibit 10(xvi)

Agreement between TheClorox Company and G. Craig Sullivan, dated effective as ofNovember 1, 2001 (filed as Exhibit 10(xvii) to the Quarterly Reporton Form 10-Q for the quarter ended December 31, 2001, incorporatedherein by reference)

The Clorox Company 1996Stock Incentive Plan Non-Qualified Stock Option Award Agreement,Notice of Stock Option Grant, issued to G. Craig Sullivan effectiveas of November 1, 2001 (filed as Exhibit 10(xviii) to the QuarterlyReport on Form 10-Q for the quarter ended December 31, 2001,incorporated herein by reference)

The Clorox Company 1996Stock Incentive Plan Restricted Stock Award Agreement, entered intoby The Clorox Company and G. Craig Sullivan, dated effective as ofNovember 1, 2001 (filed at Exhibit 10(xix) to the Quarterly Reporton Form 10-Q for the quarter ended December 31, 2001, incorporatedherein by reference)The Clorox Company 1996 Stock Incentive Plan Restricted Stock UnitAward Agreement entered into by The Clorox Company and Gerald E.Johnson, dated effective as of July 15, 2003 (attached hereto asExhibit 10(xxi))

                      

(b)  Current Reportson Form 8-K during the fourth quarter of fiscal year2003:

      None.

(c) Exhibits:

      Index to Exhibitsfollows.

(d)  (Notapplicable)

Index toExhibits

(3)    (i)         RestatedCertificate of Incorporation (filed as Exhibit 3(iii) to theQuarterly Report on Form 10-Q for the quarter ended December 31,1999, incorporated herein by reference)

        (ii)        Bylaws (restated) ofthe Company (attached hereto as Exhibit 3(ii))

(4)       Registrant agrees to file a copy of documents defining the rightsof holders of long-term debt upon request of theCommission.   

(10)      Materialcontracts:

(i)        Long-Term Compensation Program dated October 21, 1987, amendedNovember 17, 1993, which was adopted by the shareholders at theCompany's annual meeting of shareholders on November 17, 1993(filed as Exhibit 10(i) to the Annual Report on Form 10-K for theyear ended June 30, 2002, incorporated herein byreference)

(ii)       Agreement between Henkel KGaA and the Company dated June l8,l981 (filed as Exhibit 10(ii) to the Annual Report on Form 10-K forthe year ended June 30, 2002, incorporated herein byreference)

(iii)      Agreement between Henkel GmbH (now Henkel KGaA) and the Companydated July 3l, l974 (filed as Exhibit 10(iii) to the Annual Reporton Form 10-K for the year ended June 30, 2002, incorporated hereinby reference)

(iv)      Agreement between Henkel KGaA and the Company dated July 16,1986 (filed as Exhibit 10(iv) to the Annual Report on Form 10-K forthe year ended June 30, 2002, incorporated herein byreference)    

(v)       Agreement between Henkel KGaA and the Company dated March 18,1987 (filed as Exhibit 10(v) to the Annual Report on Form 10-K forthe year ended June 30, 2002, incorporated herein byreference)

(vi)      Supplemental Executive Retirement Plan Restated (July 17, 1991,amended May 18, 1994, January 17, 1996 and January 19, 2000),(filed as Exhibit 10(vi) to the Quarterly Report on Form 10-Q forthe quarter ended March 31, 2000, incorporated herein byreference)

(vii)      1993Directors' Stock Option Plan dated November 17, 1993, which wasadopted by the shareholders at the Company's annual meeting ofshareholders on November 17, 1993 (filed as Exhibit 10(vii) to theAnnual Report on Form 10-K for the year ended June 30, 2002,incorporated herein by reference)

(viii)      OfficerEmployment Agreement (form) (filed as Exhibit 10(viii) to theAnnual Report on Form 10-K for the year ended June 30, 2002,incorporated herein by reference)

(ix)       OfficerChange of Control Employment Agreement (form) (filed as Exhibit10(ix) to the Annual Report on Form 10-K for the year ended June30, 2002, incorporated herein by reference)

(x)       Non-Qualified Deferred Compensation Plan (filed as Exhibit 10(x) tothe Annual Report on Form 10-K for the year ended June 30, 2002,incorporated herein by reference)

(xi)       TheClorox Company 1995 Performance Unit Plan (filed as Exhibit 10(xi)to the Annual Report on Form 10-K for the year ended June 30, 2002,incorporated herein by reference)

(xii)      The CloroxCompany 1996 Stock Incentive Plan, amended and restated as of July19, 2001, which was adopted by the shareholders at the Company'sannual meeting of shareholders on November 28, 2001 (filed asExhibit 10(xii) to the Annual Report on Form 10-K for the yearended June 30, 2001, incorporated herein by reference)

(xiii)      The CloroxCompany 1996 Executive Incentive Compensation Plan, amended andrestated as of July 17, 2002, attached hereto as Exhibit10(xiii)

(xiv)     The Clorox CompanyIndependent Directors' Stock-Based Compensation Plan, (filed asExhibit 10(xiv) to the Annual Report on Form 10-K for the yearended June 30, 2002, incorporated herein by reference)

(xv)      Agreementbetween Henkel KGaA and the Company dated November 2, 1999 (filedas Exhibit 10 (xix) to the Quarterly Report on Form 10-Q for thequarter ended December 31, 1999, incorporated herein byreference)

(xvi)     The Clorox CompanyManagement Incentive Compensation Plan, amended and restated as ofJuly 17, 2002, attached hereto as Exhibit 10(xvi)

(xvii)     Agreement betweenThe Clorox Company and G. Craig Sullivan, dated effective as ofNovember 1, 2001 (filed as Exhibit 10(xvii) to the Quarterly Reporton Form 10-Q for the quarter ended December 31, 2001, incorporatedherein by reference)

(xviii)   The Clorox Company 1996 Stock Incentive Plan Non-Qualified StockOption Award Agreement, Notice of Stock Option Grant, issued to G.Craig Sullivan effective as of November 1, 2001 (filed as Exhibit10(xviii) to the Quarterly Report on Form 10-Q for the quarterended December 31, 2001, incorporated herein by reference)

(xix)     The Clorox Company1996 Stock Incentive Plan Restricted Stock Award Agreement, enteredinto by The Clorox Company and G. Craig Sullivan, dated effectiveas of November 1, 2001 (filed at Exhibit 10(xix) to the QuarterlyReport on Form 10-Q for the quarter ended December 31, 2001,incorporated herein by reference)

(xx)      Agreementbetween HC Investments, Inc. and the Company dated July 16, 2003(attached hereto as Exhibit 10(xx)

(xxi)     The Clorox Company1996 Stock Incentive Plan Restricted Stock Unit Award Agreemententered into by The Clorox Company and Gerald E. Johnson, datedeffective as of July 15, 2003 (attached hereto as Exhibit10(xxi))

(16)     Letter from Deloitte & Touche LLP ("D&T"), datedSeptember 17, 2003, stating that D&T agrees with thedisclosures made in Item 9 above

(21)      Subsidiariesof the Company

Ernst & Young LLP Independent Auditors'Consent

Deloitte and Touche LLP Independent Auditors'Consent

(24)      Power ofAttorney (see pages 21 and 22)

(31-1)  Certification by the Chief Executive Officer of The Clorox CompanyPursuant to Section 302 of the Sarbanes-Oxley Act of 2002, attachedhereto as Exhibit 31-1

(31-2)  Certification by the Chief Financial Officer of The Clorox CompanyPursuant to Section 302 of the Sarbanes-Oxley Act of 2002, attachedhereto as Exhibit 31-2

(32)     Certificationby the Chief Executive Officerand Chief Financial Officer of The Clorox Company Pursuant toSection 906 of the Sarbanes-Oxley Act of 2002, attached hereto asExhibit 32

Management's Discussion and Analysis andFinancial Statements

SIGNATURES

Pursuant to therequirements of Section 13 or 15(d) of the Securities Exchange Actof 1934, the registrant has duly caused this report to be signed onits behalf by the undersigned, thereunto dulyauthorized.
|                               |  | THE CLOROXCOMPANY                                                                                                             |
|-------------------------------|--|-------------------------------------------------------------------------------------------------------------------------------|
| Date:  September 17,2003 |  | By:       /s/G.E. Johnston                                                                      |
|                               |  |             G. E. Johnston, President and Chief Executive Officer |

KNOW ALL MEN BY THESEPRESENTS, that each person whose signature appears belowconstitutes and appoints Peter D. Bewley, Karen M. Rose and DanielJ. Heinrich, jointly and severally, attorneys-in-fact and agents,with full power of substitution, for him or her in any and allcapacities to sign any and all amendments to this Form 10-K, and tofile the same and all exhibits thereto and other documents inconnection therewith, with the Securities and Exchange Commission,hereby ratifying and confirming all that each of saidattorneys-in-fact and agents, and his, her or their substitute orsubstitutes, may lawfully do or cause to be done by virtuehereof.

Pursuant to therequirements of the Securities Exchange Act of 1934, this reporthas been signed below by the following persons on behalf of theregistrant and in the capacities and on the datesindicated.

| Signature         |  | Title                             | Date              |
|-------------------|--|-----------------------------------|-------------------|
| /s/G. C.Sullivan  |  |   Chairman of theBoard & | September 17,2003 |
| G. C. Sullivan    |  | Director                          |                   |
|                   |  |                                   |                   |
| /s/ G. E.Johnston |  |   President, ChiefExecutive  | September 17,2003 |
| G. E.Johnston     |  |   Officer andDirector        |                   |
|                   |  |                                   |                   |
| /s/ D.Boggan      |  | Director                          | September 17,2003 |
| D. Boggan, Jr.    |  |                                   |                   |
|                   |  |                                   |                   |
| /s/T. M.Friedman  |  | Director                          | September 17,2003 |
| T. M. Friedman    |  |                                   |                   |
| /s/ C.Henkel      |  | Director                          | September 17,2003 |
| C. Henkel         |  |                                   |                   |
|                   |  |                                   |                   |
| /s/ W.R.Johnson   |  | Director                          | September 17,2003 |
| W. R. Johnson     |  |                                   |                   |
| /s/R. W.Matschullat    |  | Director                     | September 17,2003 |
|------------------------|--|------------------------------|-------------------|
| R. W.Matschullat       |  |                              |                   |
|   /s/G. G.Michael |  | Director                     | September 17,2003 |
| G. G. Michael          |  |                              |                   |
| /s/ K.Morwind          |  | Director                     | September 17,2003 |
| K. Morwind             |  |                              |                   |
| /s/J. L.Murley         |  | Director                     | September 17,2003 |
| J. L. Murley           |  |                              |                   |
| /s/L. R.Scott          |  | Director                     | September 17,2003 |
| L. R. Scott            |  |                              |                   |
| ________________       |  | Director                     | September __,2003 |
| M. E. Shannon          |  |                              |                   |
| /s/K. M.Rose           |  | Group Vice President-        | September 17,2003 |
| K. M. Rose             |  | Chief FinancialOfficer  |                   |
|                        |  | (PrincipalFinancial          |                   |
|                        |  | Officer)                     |                   |
|                        |  |                              |                   |
| /s/D. J.Heinrich       |  | VicePresident-Controller     | September 17,2003 |
| D. J. Heinrich         |  | (PrincipalAccounting         |                   |
|                        |  | Officer)                     |                   |
|                        |  |                              |                   |