1.
|
Organic sales growth — page 3
|
2.
|
Core EPS and currency-neutral Core EPS — page 5
|
3.
|
Core gross margin and currency-neutral Core gross margin – page 7
|
4.
|
Core operating profit margin and currency-neutral Core operating profit margin — page 7
|
5.
|
Adjusted free cash flow productivity — page 7
|
◾
|
Incremental restructuring: The Company has historically had an ongoing level of restructuring activities. Such
activities have resulted in ongoing annual restructuring related charges of approximately $250 - $500 million before tax. Beginning in 2012, the Company had a strategic productivity and cost savings initiative that resulted in
incremental restructuring charges. The adjustment to Core earnings includes only the restructuring costs above what we believe are the normal recurring level of restructuring costs. In fiscal 2021 and onwards, the Company incurred
restructuring costs within our historical ongoing level.
|
◾
|
Early debt extinguishment charges: In the three months ended December 31, 2020, the company recorded after tax charges of
$427 million ($512 million before tax), due to early extinguishment of certain long-term debt. These charges represent the difference between the reacquisition price and the par value of the debt extinguished.
|
Three Months Ended
December 31, 2021 |
Net Sales Growth
|
Foreign Exchange Impact
|
Acquisition &
Divestiture Impact/Other* |
Organic Sales Growth
|
|||
Beauty
|
3%
|
(1)%
|
-%
|
2%
|
|||
Grooming
|
4%
|
1%
|
-%
|
5%
|
|||
Health Care
|
8%
|
-%
|
-%
|
8%
|
|||
Fabric Care & Home Care
|
7%
|
1%
|
-%
|
8%
|
|||
Baby, Feminine & Family Care
|
5%
|
-%
|
-%
|
5%
|
|||
Total P&G
|
6%
|
-%
|
-%
|
6%
|
Total Company
|
Net Sales Growth
|
Foreign Exchange Impact
|
Acquisition/ Divestiture Impact/Other*
|
Organic Sales Growth
|
|||
JAS 2020
|
9%
|
1%
|
(1)%
|
9%
|
|||
OND 2020
|
8%
|
-%
|
-%
|
8%
|
|||
JFM 2021
|
5%
|
(1)%
|
-%
|
4%
|
|||
AMJ 2021
|
7%
|
(3)%
|
-%
|
4%
|
|||
JAS 2021
|
5%
|
(1)%
|
-%
|
4%
|
Total Beauty
|
Net Sales Growth
|
Foreign Exchange Impact
|
Acquisition/ Divestiture Impact/Other*
|
Organic Sales Growth
|
|||
OND 2015
|
(10)%
|
7%
|
4%
|
1%
|
|||
JFM 2016
|
(8)%
|
5%
|
4%
|
1%
|
|||
AMJ 2016
|
(5)%
|
3%
|
3%
|
1%
|
|||
JAS 2016
|
(1)%
|
2%
|
2%
|
3%
|
|||
OND 2016
|
(1)%
|
2%
|
2%
|
3%
|
|||
JFM 2017
|
(2)%
|
1%
|
2%
|
1%
|
|||
AMJ 2017
|
2%
|
2%
|
1%
|
5%
|
|||
JAS 2017
|
5%
|
-%
|
-%
|
5%
|
|||
OND 2017
|
10%
|
(1)%
|
-%
|
9%
|
|||
JFM 2018
|
10%
|
(5)%
|
-%
|
5%
|
|||
AMJ 2018
|
10%
|
(3)%
|
-%
|
7%
|
|||
JAS 2018
|
5%
|
3%
|
(1)%
|
7%
|
|||
OND 2018
|
4%
|
4%
|
-%
|
8%
|
|||
JFM 2019
|
4%
|
5%
|
-%
|
9%
|
|||
AMJ 2019
|
3%
|
5%
|
-%
|
8%
|
|||
JAS 2019
|
8%
|
2%
|
-%
|
10%
|
|||
OND 2019
|
7%
|
1%
|
-%
|
8%
|
|||
JFM 2020
|
(1)%
|
2%
|
-%
|
1%
|
|||
AMJ 2020
|
-%
|
4%
|
(1)%
|
3%
|
|||
JAS 2020
|
7%
|
1%
|
(1)%
|
7%
|
|||
OND 2020
|
6%
|
(1)%
|
-%
|
5%
|
|||
JFM 2021
|
9%
|
(2)%
|
-%
|
7%
|
|||
AMJ 2021
|
11%
|
(5)%
|
-%
|
6%
|
|||
JAS 2021
|
5%
|
(3)%
|
-%
|
2%
|
Total Company
|
Net Sales Growth
|
Combined Foreign Exchange &
Acquisition/Divestiture Impact/Other*
|
Organic Sales Growth
|
|||
FY 2022 (Estimate)
|
+3% to +4%
|
+1%
|
+4% to +5%
|
Three Months Ended
December 31 |
|||
2021
|
2020
|
||
Diluted Net EPS
|
$1.66
|
$1.47
|
|
Percentage change vs. prior period
|
13%
|
||
Early Debt Extinguishment
|
-
|
0.16
|
|
Rounding
|
-
|
0.01
|
|
Core EPS
|
$1.66
|
$1.64
|
|
Percentage change vs. prior period Core EPS
|
1%
|
||
Currency Impact to Earnings
|
0.02
|
||
Currency-Neutral Core EPS
|
$1.68
|
||
Percentage change vs. prior period Core EPS
|
2%
|
JAS 20
|
JAS 19
|
OND 20
|
OND 19
|
JFM 21
|
JFM 20
|
AMJ 21
|
AMJ 20
|
JAS 21
|
JAS 20
|
|
Diluted Net Earnings Per Share attributable to P&G
|
$1.63
|
$1.36
|
$1.47
|
$1.41
|
$1.26
|
$1.12
|
$1.13
|
$1.07
|
$1.61
|
$1.63
|
Incremental Restructuring
|
-
|
0.01
|
-
|
0.01
|
-
|
0.05
|
-
|
0.09
|
-
|
-
|
Early Debt Extinguishment
|
-
|
-
|
0.16
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
Rounding
|
-
|
-
|
0.01
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
Core EPS
|
$1.63
|
$1.37
|
$1.64
|
$1.42
|
$1.26
|
$1.17
|
$1.13
|
$1.16
|
$1.61
|
$1.63
|
Percentage change vs. prior period
|
19%
|
15%
|
8%
|
(3)%
|
(1)%
|
|||||
Currency Impact to Earnings
|
0.04
|
0.03
|
-
|
(0.02)
|
(0.03)
|
|||||
Currency-Neutral Core EPS
|
$1.67
|
$1.67
|
$1.26
|
$1.11
|
$1.58
|
|||||
Percentage change vs. prior period Core EPS
|
22%
|
18%
|
8%
|
(4)%
|
(3)%
|
Total Company
|
Diluted EPS Growth
|
Impact of Incremental
Non-Core Items*
|
Core EPS Growth
|
FY 2022 (Estimate)
|
+6% to +9%
|
(3)%
|
+3% to +6%
|
Twelve Months Ended
June 30, 2021 |
|
Diluted Net Earnings Per Share
|
$5.50
|
Early Debt Extinguishment
|
0.16
|
Core EPS
|
$5.66
|
Expected Impact of Commodities/Freight/FX headwind on FY2022 EPS
|
$1.10
|
Percentage of prior year Diluted Net Earnings Per Share
|
20%
|
Percentage of prior year Core EPS
|
20%
|
Three Months Ended
December 31 |
||
2021
|
2020
|
|
Gross Margin
|
49.1%
|
53.1%
|
Basis point change vs. prior year gross margin
|
(400)
|
|
Adjustments*
|
-
|
-
|
Core Gross Margin
|
49.1%
|
53.1%
|
Basis point change vs. prior year Core gross margin
|
(400)
|
|
Currency Impact to Margin
|
(0.1)%
|
|
Currency-Neutral Core Gross Margin
|
49.0%
|
|
Basis point change vs prior year Core gross margin
|
(410)
|
Three Months Ended
December 31 |
||
2021
|
2020
|
|
Operating Profit Margin
|
24.7%
|
27.2%
|
Basis point change vs. prior year operating profit margin
|
(250)
|
|
Adjustments*
|
-
|
-
|
Core Operating Profit Margin
|
24.7%
|
27.2%
|
Basis point change vs. prior year Core operating profit margin
|
(250)
|
|
Currency Impact Margin
|
0.1%
|
|
Currency-Neutral Core Operating Profit Margin
|
24.8%
|
|
Basis point change vs. prior year operating profit margin
|
(240)
|
Operating Cash Flow
|
Capital Spending
|
Adjusted Free Cash Flow
|
Net Earnings
|
Adjusted Free Cash Flow Productivity
|
$5,121
|
$(626)
|
$4,495
|
$4,242
|
106%
|