XML 73 R54.htm IDEA: XBRL DOCUMENT
v3.24.2.u1

INCOME TAXES (Tables) | 12 Months Ended
--- | ---
Jun. 30, 2024
Income Tax Disclosure [Abstract] |
Schedule of Provision for Income Taxes | The provision for income taxes, by tax jurisdiction, consisted of the following for the fiscal years ended June 30:
| 2024 |  | 2023 |  | 2022
Current |  |  |  |  |
Federal | $ | 132 |  |  | $ | 153 |  |  | $ | 71 |
State | 18 |  |  | 33 |  |  | 17 |
Foreign | 56 |  |  | 40 |  |  | 43 |
Total current | $ | 206 |  |  | $ | 226 |  |  | $ | 131 |
Deferred |  |  |  |  |
Federal | $ | (99) |  |  | $ | (120) |  |  | $ | 6 |
State | (5) |  |  | (28) |  |  | (2) |
Foreign | 4 |  |  | (1) |  |  | 1 |
Total deferred | (100) |  |  | (149) |  |  | 5 |
Total | $ | 106 |  |  | $ | 77 |  |  | $ | 136 |
Schedule of Components of Earnings Before Income Taxes | The components of Earnings before income taxes, by tax jurisdiction, consisted of the following for the fiscal years ended June 30:
| 2024 |  | 2023 |  | 2022
United States | $ | 311 |  |  | $ | 154 |  |  | $ | 483 |
Foreign | 87 |  |  | 84 |  |  | 124 |
Total | $ | 398 |  |  | $ | 238 |  |  | $ | 607 |
Schedule of Reconciliation of Effective Tax Rate | A reconciliation of the statutory federal income tax rate to the Company’s effective tax rate on operations follows for the fiscal years ended June 30:
| 2024 |  | 2023 |  | 2022
Statutory federal tax rate | 21.0 | % |  | 21.0 | % |  | 21.0 | %
State taxes (net of federal tax benefits) | 2.5 |  |  | 1.6 |  |  | 1.9 |
Foreign tax rate differential | 7.7 |  |  | 8.6 |  |  | 3.1 |
Federal excess tax benefits | (0.3) |  |  | (1.8) |  |  | (0.9) |
Net U.S. tax on foreign income | (5.2) |  |  | (2.3) |  |  | (1.7) |
Loss on divestiture | 10.5 |  |  | — |  |  | — |
International legal entity reorganization | (6.1) |  |  | — |  |  | — |
VMS goodwill impairment | — |  |  | 8.6 |  |  | — |
Federal research and development credits | (1.2) |  |  | (2.7) |  |  | (0.8) |
Other differences | (2.4) |  |  | (0.6) |  |  | (0.2) |
Effective tax rate | 26.5 | % |  | 32.4 | % |  | 22.4 | %
Schedule of Components of Net Deferred Tax Assets (Liabilities) | The components of net deferred tax assets (liabilities) as of June 30 are shown below:
| 2024 |  | 2023
Deferred tax assets |  |  |
Compensation and benefit programs | $ | 109 |  |  | $ | 123 |
Loss and tax credit carryforwards | 153 |  |  | 94 |
Operating and finance lease liabilities | 111 |  |  | 104 |
Accruals and reserves | 33 |  |  | 46 |
Capitalized research and development | 43 |  |  | 34 |
Inventory costs | 29 |  |  | 32 |
Other | 33 |  |  | 34 |
Subtotal | 511 |  |  | 467 |
Valuation allowance | (115) |  |  | (59) |
Total deferred tax assets | $ | 396 |  |  | $ | 408 |
Deferred tax liabilities |  |  |
Property, plant and equipment and intangible assets | $ | (84) |  |  | $ | (157) |
Lease right-of-use assets | (100) |  |  | (96) |
Other | (36) |  |  | (36) |
Total deferred tax liabilities | (220) |  |  | (289) |
Net deferred tax assets (liabilities) | $ | 176 |  |  | $ | 119 |
The net deferred tax assets and liabilities included in the consolidated balance sheet at June 30 were as follows:
Net deferred tax assets (1) | $ | 198 |  |  | $ | 147 |
Net deferred tax liabilities | (22) |  |  | (28) |
Net deferred tax assets (liabilities) | $ | 176 |  |  | $ | 119 |
(1)Net deferred tax assets are recorded in Other assets.
Summary of Changes in Valuation Allowance | Changes in the valuation allowance on deferred tax assets were as follows for the years ended June 30:
| 2024 |  | 2023 |  | 2022
Valuation allowance at beginning of year | $ | (59) |  |  | $ | (52) |  |  | $ | (42) |
Net increase/(decrease) for U.S. capital loss carryfowards | (46) |  |  | — |  |  | — |
Net decrease/(increase) for other foreign deferred tax assets | (2) |  |  | (1) |  |  | (1) |
Net decrease/(increase) for foreign and U.S. net operating loss carryforwards and tax credits | (8) |  |  | (6) |  |  | (9) |
Valuation allowance at end of year | $ | (115) |  |  | $ | (59) |  |  | $ | (52) |
Summary of Tax Credit Carryforwards | The Company's carryforwards for capital losses, net operating losses, and tax credits, with related valuation allowances were as follows as of June 30:
| 2024 |  |
| Carryforwards |  | Valuation Allowances |  | Net Carryforwards |  | Fiscal Year Expiring
Capital losses in U.S. jurisdictions | 46 |  |  | (46) |  |  | — |  |  | 2029
Net operating losses |  |  |  |  |  |  |
U.S. jurisdictions | 6 |  |  | (5) |  |  | 1 |  |  | 2030 - 2042
U.S. jurisdictions (with no expiration) | 9 |  |  | (8) |  |  | 1 |  |  | N/A
Foreign jurisdictions | 18 |  |  | (16) |  |  | 2 |  |  | 2025 - 2044
Foreign jurisdictions (with no expiration) | 8 |  |  | — |  |  | 8 |  |  | N/A
Total net operating losses | 41 |  |  | (29) |  |  | 12 |  |  |
Income tax credits |  |  |  |  |  |  |
U.S. jurisdictions | 30 |  |  | — |  |  | 30 |  |  | 2025 - 2034
U.S. jurisdictions (with no expiration) | 2 |  |  | — |  |  | 2 |  |  | N/A
Foreign jurisdictions | 30 |  |  | (30) |  |  | — |  |  | 2026
Foreign jurisdictions (with no expiration) | 4 |  |  | (3) |  |  | 1 |  |  | N/A
Total income tax credits | 66 |  |  | (33) |  |  | 33 |  |  |
Total carryforwards | $ | 153 |  |  | $ | (108) |  |  | $ | 45 |  |  |
| 2023 |  |
| Carryforwards |  | Valuation Allowances |  | Net Carryforwards |  | Fiscal Year Expiring
Capital losses in U.S. jurisdictions | — |  |  | — |  |  | — |  |  | N/A
Net operating losses |  |  |  |  |  |  |
U.S. jurisdictions | 4 |  |  | (4) |  |  | — |  |  | 2030 - 2042
U.S. jurisdictions (with no expiration) | 6 |  |  | (5) |  |  | 1 |  |  | N/A
Foreign jurisdictions | 21 |  |  | (16) |  |  | 5 |  |  | 2024 - 2040
Foreign jurisdictions (with no expiration) | 9 |  |  | (1) |  |  | 8 |  |  | N/A
Total net operating losses | 40 |  |  | (26) |  |  | 14 |  |  |
Income tax credits |  |  |  |  |  |  |
U.S. jurisdictions | 23 |  |  | — |  |  | 23 |  |  | 2024 - 2033
U.S. jurisdictions (with no expiration) | 2 |  |  | — |  |  | 2 |  |  | N/A
Foreign jurisdictions (with no expiration) | 29 |  |  | (28) |  |  | 1 |  |  | N/A
Total income tax credits | 54 |  |  | (28) |  |  | 26 |  |  |
Total carryforwards | $ | 94 |  |  | $ | (54) |  |  | $ | 40 |  |  |
Summary of Operating Loss Carryforwards | The Company's carryforwards for capital losses, net operating losses, and tax credits, with related valuation allowances were as follows as of June 30:
| 2024 |  |
| Carryforwards |  | Valuation Allowances |  | Net Carryforwards |  | Fiscal Year Expiring
Capital losses in U.S. jurisdictions | 46 |  |  | (46) |  |  | — |  |  | 2029
Net operating losses |  |  |  |  |  |  |
U.S. jurisdictions | 6 |  |  | (5) |  |  | 1 |  |  | 2030 - 2042
U.S. jurisdictions (with no expiration) | 9 |  |  | (8) |  |  | 1 |  |  | N/A
Foreign jurisdictions | 18 |  |  | (16) |  |  | 2 |  |  | 2025 - 2044
Foreign jurisdictions (with no expiration) | 8 |  |  | — |  |  | 8 |  |  | N/A
Total net operating losses | 41 |  |  | (29) |  |  | 12 |  |  |
Income tax credits |  |  |  |  |  |  |
U.S. jurisdictions | 30 |  |  | — |  |  | 30 |  |  | 2025 - 2034
U.S. jurisdictions (with no expiration) | 2 |  |  | — |  |  | 2 |  |  | N/A
Foreign jurisdictions | 30 |  |  | (30) |  |  | — |  |  | 2026
Foreign jurisdictions (with no expiration) | 4 |  |  | (3) |  |  | 1 |  |  | N/A
Total income tax credits | 66 |  |  | (33) |  |  | 33 |  |  |
Total carryforwards | $ | 153 |  |  | $ | (108) |  |  | $ | 45 |  |  |
| 2023 |  |
| Carryforwards |  | Valuation Allowances |  | Net Carryforwards |  | Fiscal Year Expiring
Capital losses in U.S. jurisdictions | — |  |  | — |  |  | — |  |  | N/A
Net operating losses |  |  |  |  |  |  |
U.S. jurisdictions | 4 |  |  | (4) |  |  | — |  |  | 2030 - 2042
U.S. jurisdictions (with no expiration) | 6 |  |  | (5) |  |  | 1 |  |  | N/A
Foreign jurisdictions | 21 |  |  | (16) |  |  | 5 |  |  | 2024 - 2040
Foreign jurisdictions (with no expiration) | 9 |  |  | (1) |  |  | 8 |  |  | N/A
Total net operating losses | 40 |  |  | (26) |  |  | 14 |  |  |
Income tax credits |  |  |  |  |  |  |
U.S. jurisdictions | 23 |  |  | — |  |  | 23 |  |  | 2024 - 2033
U.S. jurisdictions (with no expiration) | 2 |  |  | — |  |  | 2 |  |  | N/A
Foreign jurisdictions (with no expiration) | 29 |  |  | (28) |  |  | 1 |  |  | N/A
Total income tax credits | 54 |  |  | (28) |  |  | 26 |  |  |
Total carryforwards | $ | 94 |  |  | $ | (54) |  |  | $ | 40 |  |  |
Schedule of Reconciliation of Gross Unrecognized Tax Benefits | The following is a reconciliation of the beginning and ending amounts of the Company’s gross unrecognized tax benefits:
| 2024 |  | 2023 |  | 2022
Unrecognized tax benefits at beginning of year | $ | 17 |  |  | $ | 17 |  |  | $ | 21 |
Gross increases - tax positions in prior periods | — |  |  | 1 |  |  | — |
Gross decreases - tax positions in prior periods | (4) |  |  | (3) |  |  | (7) |
Gross increases - current period tax positions | 9 |  |  | 2 |  |  | 4 |
Gross decreases - current period tax positions | — |  |  | — |  |  | — |
Lapse of applicable statute of limitations | — |  |  | — |  |  | (1) |
Settlements | — |  |  | — |  |  | — |
Unrecognized tax benefits at end of year | $ | 22 |  |  | $ | 17 |  |  | $ | 17 |

X
- Definition A schedule that reflects the provision for income taxes on continuing operations, by tax jurisdiction. + References No definition available. + Details
Name: | clx_ProvisionForIncomeTaxesOnContinuingOperationsByTaxJurisdictionTableTextBlock
Namespace Prefix: | clx_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

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

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-2 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 231 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-231 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of income before income tax between domestic and foreign jurisdictions. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(1)(Note 1)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1 + Details
Name: | us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure for tax position taken on unrecognized tax benefit. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-15 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-15 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15A -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-15A + Details
Name: | us-gaap_SummaryOfIncomeTaxContingenciesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of pertinent information, such as tax authority, amounts, and expiration dates, of net operating loss carryforwards, including an assessment of the likelihood of utilization. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-3 + Details
Name: | us-gaap_SummaryOfOperatingLossCarryforwardsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of tax credit carryforwards available to reduce future taxable income, including amounts, expiration dates, limitations on use and the related deferred tax assets and valuation allowances. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-3 + Details
Name: | us-gaap_SummaryOfTaxCreditCarryforwardsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of valuation allowances to reduce deferred tax assets to net realizable value, including identification of the deferred tax asset more likely than not will not be fully realized and the corresponding amount of the valuation allowance. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-2 + Details
Name: | us-gaap_SummaryOfValuationAllowanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration