XML 28 R13.htm IDEA: XBRL DOCUMENT
v3.20.2

STOCKHOLDERS' EQUITY | 3 Months Ended
--- | ---
Sep. 30, 2020
Equity [Abstract] |
STOCKHOLDERS' EQUITY | STOCKHOLDERS’ EQUITY Changes in the components of Stockholders’ equity were as follows for the periods indicated:
| Three Months Ended September 30
(Dollars in millions except per share data; shares in thousands) | Common Stock |  | Additional Paid-in Capital |  | Retained Earnings |  | Treasury Stock |  | Accumulated Other Comprehensive Net (Loss) Income |  | Non-controlling interests |  | Total Stockholders’ Equity
Amount |  | Shares |  |  |  | Amount |  | Shares |  |  |
Balance as of June 30, 2019 | $ | 159 |  |  | 158,741 |  |  | $ | 1,046 |  |  | $ | 3,150 |  |  | $ | (3,194) |  |  | (33,055) |  |  | $ | (602) |  |  | $ | — |  |  | $ | 559 |
Cumulative effect of accounting changes, net of tax (1) |  |  |  |  |  |  | 22 |  |  |  |  |  |  |  |  |  |  | 22 |
Net earnings |  |  |  |  |  |  | 203 |  |  |  |  |  |  |  |  |  |  | 203 |
Other comprehensive (loss) income |  |  |  |  |  |  |  |  |  |  |  |  | (13) |  |  |  |  | (13) |
Dividends to Clorox stockholders ($1.06 per share declared) |  |  |  |  |  |  | (134) |  |  |  |  |  |  |  |  |  |  | (134) |
Stock-based compensation |  |  |  |  | 6 |  |  |  |  |  |  |  |  |  |  |  |  | 6 |
Other employee stock plan activities |  |  |  |  | (9) |  |  | — |  |  | 20 |  |  | 472 |  |  |  |  |  |  | 11 |
Treasury stock purchased |  |  |  |  |  |  |  |  | (104) |  |  | (663) |  |  |  |  |  |  | (104) |
Balance as of September 30, 2019 | $ | 159 |  |  | 158,741 |  |  | $ | 1,043 |  |  | $ | 3,241 |  |  | $ | (3,278) |  |  | (33,246) |  |  | $ | (615) |  |  | $ | — |  |  | $ | 550 |
Balance as of June 30, 2020 | $ | 159 |  |  | 158,741 |  |  | $ | 1,137 |  |  | $ | 3,567 |  |  | $ | (3,315) |  |  | (32,543) |  |  | $ | (640) |  |  | $ | — |  |  | $ | 908 |
Net earnings |  |  |  |  |  |  | 415 |  |  |  |  |  |  |  |  | 2 |  |  | 417 |
Other comprehensive (loss) income |  |  |  |  |  |  |  |  |  |  |  |  | 17 |  |  |  |  | 17 |
Dividends to Clorox stockholders ($1.11 per share declared) |  |  |  |  |  |  | (141) |  |  |  |  |  |  |  |  |  |  | (141) |
Dividends to noncontrolling interests |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (4) |  |  | (4) |
Business combinations including purchase accounting adjustments |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 198 |  |  | 198 |
Stock-based compensation |  |  |  |  | 13 |  |  |  |  |  |  |  |  |  |  |  |  | 13 |
Other employee stock plan activities |  |  |  |  | (4) |  |  | (1) |  |  | 8 |  |  | 283 |  |  |  |  |  |  | 3 |
Treasury stock purchased |  |  |  |  |  |  |  |  | (100) |  |  | (444) |  |  |  |  |  |  | (100) |
Balance as of September 30, 2020 | $ | 159 |  |  | 158,741 |  |  | $ | 1,146 |  |  | $ | 3,840 |  |  | $ | (3,407) |  |  | (32,704) |  |  | $ | (623) |  |  | $ | 196 |  |  | $ | 1,311 |
(1) As a result of adopting ASU No. 2016-02, “Leases (Topic 842),” on July 1, 2019, the Company recorded a cumulative effect of initially applying the new guidance as an adjustment to the fiscal year 2020 opening balance of Retained earnings. The Company has two stock repurchase programs: an open-market purchase program with an authorized aggregate purchase amount of up to $2,000, which has no expiration date, and a program to offset the anticipated impact of dilution related to stock-based awards (the Evergreen Program), which has no authorization limit on the dollar amount and no expiration date. Stock repurchases under the two stock repurchase programs were as follows for the periods indicated:
|  |  | Three Months Ended
|  |  |  |  | 9/30/2020 |  | 9/30/2019
|  |  |  |  |  |  |  |  | Amount |  | Shares (in thousands) |  | Amount |  | Shares (in thousands)
Open-market purchase program |  |  |  |  |  |  |  |  | $ | — |  |  | — |  |  | $ | — |  |  | — |
Evergreen Program |  |  |  |  |  |  |  |  | 100 |  |  | 444 |  |  | 104 |  |  | 663 |
Total stock repurchases |  |  |  |  |  |  |  |  | $ | 100 |  |  | 444 |  |  | $ | 104 |  |  | 663 |
Changes in Accumulated other comprehensive net (loss) income attributable to Clorox by component were as follows for the periods indicated:
| Three Months Ended September 30
| Foreign currency translation adjustments |  | Net unrealized gains (losses) on derivatives |  | Pension and postretirement benefit adjustments |  | Accumulated other comprehensive net (loss) income
Balance as of June 30, 2019 | $ | (414) |  |  | $ | (23) |  |  | $ | (165) |  |  | $ | (602) |
Other comprehensive (loss) income before reclassifications | (15) |  |  | 1 |  |  | — |  |  | (14) |
Amounts reclassified from Accumulated other comprehensive net (loss) income | — |  |  | 2 |  |  | 2 |  |  | 4 |
Income tax benefit (expense) | (1) |  |  | (1) |  |  | (1) |  |  | (3) |
Net current period other comprehensive (loss) income | (16) |  |  | 2 |  |  | 1 |  |  | (13) |
Balance as of September 30, 2019 | $ | (430) |  |  | $ | (21) |  |  | $ | (164) |  |  | $ | (615) |
Balance as of June 30, 2020 | $ | (450) |  |  | $ | (18) |  |  | $ | (172) |  |  | $ | (640) |
Other comprehensive (loss) income before reclassifications | 9 |  |  | 3 |  |  | — |  |  | 12 |
Amounts reclassified from Accumulated other comprehensive net (loss) income | — |  |  | 3 |  |  | 2 |  |  | 5 |
Income tax benefit (expense), and other | 1 |  |  | (1) |  |  | — |  |  | — |
Net current period other comprehensive (loss) income | 10 |  |  | 5 |  |  | 2 |  |  | 17 |
Balance as of September 30, 2020 | $ | (440) |  |  | $ | (13) |  |  | $ | (170) |  |  | $ | (623) |
Included in foreign currency translation adjustments are re-measurement losses on long-term intercompany loans where settlement is not planned or anticipated in the foreseeable future. There were no amounts associated with these loans reclassified from Accumulated other comprehensive net (loss) income for the periods presented.

X
- References No definition available. + Details
Name: | us-gaap_EquityAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(e)(1)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
Name: | us-gaap_StockholdersEquityNoteDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration