15 new in the latest 10-Q
Paragraphs with nothing like them in last year's 10-K
No new paragraphs in Risk Factors, or fewer than two 10-Ks to compare.
Paragraphs in the 10-Q filed Nov 2, 2026 that were not in the one before
15 paragraphs in the 10-Q filed Nov 2, 2026 with nothing like them in the 10-Q filed Apr 30, 2026 (at least half the words must differ; new numbers alone do not count). Quoted exactly, grouped by the item heading above them. This is text that changed, not a judgement of how serious it is.
Financial statements and notes
Three months ended ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────── 9/30/2026 9/30/2025 Net sales $ 1,905 $ 1,429 Cost of products sold 1,135 833 Gross profit 770 596 Selling and administrative expenses 290 277 Advertising costs 190 166 Research and development costs 29 28 Interest expense 52 23 Other (income) expense, net 2 (5) Earnings before income taxes 207 107 Income tax expense 34 25 Net earnings 173 82 Less: Net earnings attributable to noncontrolling interests 3 2 Net earnings attributable to Clorox $ 170 $ 80 Net earnings per share attributable to Clorox Basic net earnings per share $ 1.39 $ 0.65 Diluted net earnings per share $ 1.39 $ 0.65 Weighted average shares outstanding (in thousands) Basic 121,619 122,629 Diluted 122,027 123,018
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The acquisition was completed for cash consideration of approximately $ 2,147, which includes post-closing working capital and other adjustments, and was funded through commercial paper borrowings and new debt.
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The GOJO acquisition was accounted for as a business combination under the acquisition method of accounting. The purchase consideration was allocated to the tangible and identifiable intangible assets acquired and liabilities assumed based on their fair values at the acquisition date, with the excess allocated to goodwill. This allocation was performed based on information available at the acquisition date and is subject to change during the measurement period not to exceed one year. The final fair value determination could result in adjustments to the values presented in the preliminary purchase price allocation. Clorox Purell ProCare's operating results and all of the goodwill derived from the acquisition are included within the Health and Wellness reportable segment. The goodwill derived from this acquisition is deductible for tax purposes. The goodwill represents expected synergies from complementary expertise and business-to-business capabilities as well as both near-term and long-term strategic value to the Company.
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The following table summarizes the preliminary fair values of the assets acquired and liabilities assumed as of the acquisition date, which include immaterial measurement period adjustments.
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Trademarks acquired include $ 465 assigned an indefinite useful life and $ 22 assigned a useful life of 15 years. Acquired intangible assets included in Other intangible assets, net are made up of customer relationships valued at $ 547 and assigned a useful life of 20 years and developed technology valued at $ 22 and assigned a useful life of 7 years.
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Derivative assets were $ 10 and $ 5 and derivative liabilities were $ 0 and $ 1 as of September 30, 2026 and June 30, 2026, respectively.
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(1) Increase is primarily driven by the GOJO acquisition. Refer to Note 2 for further information.
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Net sales Three months ended 9/30/2026 9/30/2025 Cleaning 32% 35% Professional Products 16 5 Health and Wellness 48% 40% Bags and Wraps 11 11 Cat Litter 7 9 Grilling 4 5 Household 22% 25% Food 8 9 Water Filtration 4 5 Natural Personal Care 3 3 Lifestyle 15% 17% International 15% 18% Corporate and Other —% —% Total Company 100% 100%
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Interest expense increased by $29 in the current period as compared to prior period. The increase was primarily due to incremental borrowings to fund the GOJO acquisition.
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The methods, estimates and judgments the Company uses in applying its most critical accounting policies have a significant impact on the results the Company reports in its condensed consolidated financial statements. Accordingly, a different financial presentation could result depending on the judgments, estimates or assumptions that are used. The most critical accounting estimates are those that are most important to the portrayal of the Company’s financial condition and results, and require the Company to make the most difficult and subjective judgments, often estimating the outcome of future events that are inherently uncertain. As of September 30, 2026, there have been no significant changes to the Company’s critical accounting estimates since the preparation of the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2026, except as noted below:
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The Company tests its goodwill and other indefinite-lived intangible assets for impairment annually in the fiscal fourth quarter unless there are indications during a different interim period that these assets may have become impaired. The results of the fiscal year 2026 annual impairment review indicated that the Burt’s Bees indefinite-lived trademark had 20% or less excess fair value over its carrying value. As of September 30, 2026, the trademark had a carrying value of $322. No triggering events were identified in the fiscal quarter ended September 30, 2026 that would more likely than not reduce the fair value of the trademark below its carrying value. The Company continues to closely monitor any events, circumstances or changes in this business that might imply a reduction in the estimated fair value and may lead to impairment.
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partners, especially China, the potential expansion of sanctions regimes, and disruptions to global markets or transportation routes, particularly due to the imposition of U.S. and retaliatory tariffs;
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• risk of reductions in the estimated fair value of the Burt’s Bees trademark and potential impairment charges;
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Item 6
10.1 Form of Restricted Stock Unit Award Agreement under the Company’s 2005 Stock Incentive Plan (Annual Grant) for awards made in 2026.
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10.2 Form of Performance Share Award Agreement under the Company’s 2005 Stock Incentive Plan for awards made in 2026.
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