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STOCKHOLDERS' EQUITY (Tables) | 6 Months Ended
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Dec. 31, 2020
Equity [Abstract] |
Schedule of Stockholders Equity | Changes in the components of Stockholders’ equity were as follows for the periods indicated:
| Three Months Ended December 31
(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 September 30, 2019 | $ | 159 |  |  | 158,741 |  |  | $ | 1,043 |  |  | $ | 3,241 |  |  | $ | (3,278) |  |  | (33,246) |  |  | $ | (615) |  |  | $ | — |  |  | $ | 550 |
Net earnings |  |  |  |  |  |  | 185 |  |  |  |  |  |  |  |  |  |  | 185 |
Other comprehensive (loss) income |  |  |  |  |  |  |  |  |  |  |  |  | 14 |  |  |  |  | 14 |
Dividends to Clorox stockholders ($1.06 per share declared) |  |  |  |  |  |  | (133) |  |  |  |  |  |  |  |  |  |  | (133) |
Stock-based compensation |  |  |  |  | 13 |  |  |  |  |  |  |  |  |  |  |  |  | 13 |
Other employee stock plan activities |  |  |  |  | 6 |  |  | (1) |  |  | 6 |  |  | 106 |  |  |  |  |  |  | 11 |
Treasury stock purchased |  |  |  |  |  |  |  |  | (85) |  |  | (577) |  |  |  |  |  |  | (85) |
Balance as of December 31, 2019 | $ | 159 |  |  | 158,741 |  |  | $ | 1,062 |  |  | $ | 3,292 |  |  | $ | (3,357) |  |  | (33,717) |  |  | $ | (601) |  |  | $ | — |  |  | $ | 555 |
Balance as of September 30, 2020 | $ | 159 |  |  | 158,741 |  |  | $ | 1,146 |  |  | $ | 3,840 |  |  | $ | (3,407) |  |  | (32,704) |  |  | $ | (623) |  |  | $ | 196 |  |  | $ | 1,311 |
Net earnings |  |  |  |  |  |  | 259 |  |  |  |  |  |  |  |  | 2 |  |  | 261 |
Other comprehensive (loss) income |  |  |  |  |  |  |  |  |  |  |  |  | 48 |  |  |  |  | 48 |
Dividends to Clorox stockholders ($1.11 per share declared) |  |  |  |  |  |  | (141) |  |  |  |  |  |  |  |  |  |  | (141) |
Dividends to non-controlling interests |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (2) |  |  | (2) |
Stock-based compensation |  |  |  |  | 22 |  |  |  |  |  |  |  |  |  |  |  |  | 22 |
Other employee stock plan activities |  |  |  |  | 8 |  |  | (16) |  |  | 89 |  |  | 667 |  |  |  |  |  |  | 81 |
Treasury stock purchased |  |  |  |  |  |  |  |  | (200) |  |  | (980) |  |  |  |  |  |  | (200) |
Treasury stock retirement | (28) |  |  | (28,000) |  |  |  |  | (2,640) |  |  | 2,668 |  |  | 28,000 |  |  |  |  |  |  | — |
Balance as of December 31, 2020 | $ | 131 |  |  | 130,741 |  |  | $ | 1,176 |  |  | $ | 1,302 |  |  | $ | (850) |  |  | (5,017) |  |  | $ | (575) |  |  | $ | 196 |  |  | $ | 1,380 |
| Six Months Ended December 31
(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 |  |  |  |  |  |  | 388 |  |  |  |  |  |  |  |  |  |  | 388 |
Other comprehensive (loss) income |  |  |  |  |  |  |  |  |  |  |  |  | 1 |  |  |  |  | 1 |
Dividends to Clorox stockholders ($2.12 per share declared) |  |  |  |  |  |  | (267) |  |  |  |  |  |  |  |  |  |  | (267) |
Stock-based compensation |  |  |  |  | 19 |  |  |  |  |  |  |  |  |  |  |  |  | 19 |
Other employee stock plan activities |  |  |  |  | (3) |  |  | (1) |  |  | 26 |  |  | 578 |  |  |  |  |  |  | 22 |
Treasury stock purchased |  |  |  |  |  |  |  |  | (189) |  |  | (1,240) |  |  |  |  |  |  | (189) |
Balance as of December 31, 2019 | $ | 159 |  |  | 158,741 |  |  | $ | 1,062 |  |  | $ | 3,292 |  |  | $ | (3,357) |  |  | (33,717) |  |  | $ | (601) |  |  | $ | — |  |  | $ | 555 |
Balance as of June 30, 2020 | $ | 159 |  |  | 158,741 |  |  | $ | 1,137 |  |  | $ | 3,567 |  |  | $ | (3,315) |  |  | (32,543) |  |  | $ | (640) |  |  | $ | — |  |  | $ | 908 |
Net earnings |  |  |  |  |  |  | 674 |  |  |  |  |  |  |  |  | 4 |  |  | 678 |
Other comprehensive (loss) income |  |  |  |  |  |  |  |  |  |  |  |  | 65 |  |  |  |  | 65 |
Dividends to Clorox stockholders ($2.22 per share declared) |  |  |  |  |  |  | (282) |  |  |  |  |  |  |  |  |  |  | (282) |
Dividends to noncontrolling interests |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (6) |  |  | (6) |
Business combinations including purchase accounting adjustments |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 198 |  |  | 198 |
Stock-based compensation |  |  |  |  | 35 |  |  |  |  |  |  |  |  |  |  |  |  | 35 |
Other employee stock plan activities |  |  |  |  | 4 |  |  | (17) |  |  | 97 |  |  | 950 |  |  |  |  |  |  | 84 |
Treasury stock purchased |  |  |  |  |  |  |  |  | (300) |  |  | (1,424) |  |  |  |  |  |  | (300) |
Treasury stock retirement | (28) |  |  | (28,000) |  |  |  |  | (2,640) |  |  | 2,668 |  |  | 28,000 |  |  |  |  |  |  | — |
Balance as of December 31, 2020 | $ | 131 |  |  | 130,741 |  |  | $ | 1,176 |  |  | $ | 1,302 |  |  | $ | (850) |  |  | (5,017) |  |  | $ | (575) |  |  | $ | 196 |  |  | $ | 1,380 |
(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.
Schedule of Share Repurchases Under Authorized Programs | Stock repurchases under the two stock repurchase programs were as follows for the periods indicated:
| Three Months Ended |  | Six Months Ended
| 12/31/2020 |  | 12/31/2019 |  | 12/31/2020 |  | 12/31/2019
| Amount |  | Shares (in thousands) |  | Amount |  | Shares (in thousands) |  | Amount |  | Shares (in thousands) |  | Amount |  | Shares (in thousands)
Open-market purchase program | $ | — |  |  | — |  |  | $ | 85 |  |  | 577 |  |  | $ | — |  |  | — |  |  | $ | 85 |  |  | 577 |
Evergreen Program | 200 |  |  | 980 |  |  | — |  |  | — |  |  | 300 |  |  | 1,424 |  |  | 104 |  |  | 663 |
Total stock repurchases | $ | 200 |  |  | 980 |  |  | $ | 85 |  |  | 577 |  |  | $ | 300 |  |  | 1,424 |  |  | $ | 189 |  |  | 1,240 |
Schedule of Changes in Accumulated Other Comprehensive Net (Losses) Income | Changes in Accumulated other comprehensive net (loss) income attributable to Clorox by component were as follows for the periods indicated:
| Three Months Ended December 31
| Foreign currency translation adjustments |  | Net unrealized gains (losses) on derivatives |  | Pension and postretirement benefit adjustments |  | Accumulated other comprehensive net (loss) income
Balance as of September 30, 2019 | $ | (430) |  |  | $ | (21) |  |  | $ | (164) |  |  | $ | (615) |
Other comprehensive (loss) income before reclassifications | 9 |  |  | 2 |  |  | — |  |  | 11 |
Amounts reclassified from Accumulated other comprehensive net (loss) income | — |  |  | 2 |  |  | 1 |  |  | 3 |
Income tax benefit (expense) | — |  |  | — |  |  | — |  |  | — |
Net current period other comprehensive (loss) income | 9 |  |  | 4 |  |  | 1 |  |  | 14 |
Balance as of December 31, 2019 | $ | (421) |  |  | $ | (17) |  |  | $ | (163) |  |  | $ | (601) |
Balance as of September 30, 2020 | $ | (440) |  |  | $ | (13) |  |  | $ | (170) |  |  | $ | (623) |
Other comprehensive (loss) income before reclassifications | 36 |  |  | 11 |  |  | — |  |  | 47 |
Amounts reclassified from Accumulated other comprehensive net (loss) income | — |  |  | 2 |  |  | 2 |  |  | 4 |
Income tax benefit (expense), and other | 1 |  |  | (3) |  |  | (1) |  |  | (3) |
Net current period other comprehensive (loss) income | 37 |  |  | 10 |  |  | 1 |  |  | 48 |
Balance as of December 31, 2020 | $ | (403) |  |  | $ | (3) |  |  | $ | (169) |  |  | $ | (575) |
| Six Months Ended December 31
| 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 | (6) |  |  | 3 |  |  | — |  |  | (3) |
Amounts reclassified from Accumulated other comprehensive net (loss) income | — |  |  | 4 |  |  | 3 |  |  | 7 |
Income tax benefit (expense) | (1) |  |  | (1) |  |  | (1) |  |  | (3) |
Net current period other comprehensive (loss) income | (7) |  |  | 6 |  |  | 2 |  |  | 1 |
Balance as of December 31, 2019 | $ | (421) |  |  | $ | (17) |  |  | $ | (163) |  |  | $ | (601) |
Balance as of June 30, 2020 | $ | (450) |  |  | $ | (18) |  |  | $ | (172) |  |  | $ | (640) |
Other comprehensive (loss) income before reclassifications | 45 |  |  | 14 |  |  | — |  |  | 59 |
Amounts reclassified from Accumulated other comprehensive net (loss) income | — |  |  | 5 |  |  | 4 |  |  | 9 |
Income tax benefit (expense), and other | 2 |  |  | (4) |  |  | (1) |  |  | (3) |
Net current period other comprehensive (loss) income | 47 |  |  | 15 |  |  | 3 |  |  | 65 |
Balance as of December 31, 2020 | $ | (403) |  |  | $ | (3) |  |  | $ | (169) |  |  | $ | (575) |

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