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ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED DECEMBER 31, 2020, OR
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¨
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TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM _________ to _________
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A.
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Full title of the plan and the address of the plan, if different from that of the issuer named below: The Procter & Gamble Commercial Company Employees’ Savings Plan, Two Procter & Gamble Plaza,
Cincinnati, Ohio 45202.
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B.
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Name of issuer of the securities held pursuant to the plan and the address of its principal executive office: c/o The Procter & Gamble Company, One Procter & Gamble Plaza, Cincinnati, Ohio 45202.
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Item 4
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Plan Financial Statements and Schedules Prepared in Accordance with the Financial Reporting Requirements of ERISA.
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SIGNATURE
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EXHIBIT INDEX
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The Procter & Gamble
Commercial Company
Employees' Savings Plan
Plan #002
EIN# 66-0676831
Financial
Statements as of and for the
Years Ended December 31, 2020 and 2019,
Supplemental Schedules as of and for the
Year Ended December 31, 2020, and Report of Independent
Registered Public Accounting Firm
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TABLE OF CONTENTS
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Page
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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
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1-2
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FINANCIAL STATEMENTS:
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Statements of Net Assets Available for Benefits as of December 31, 2020 and 2019
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3
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Statements of Changes in Net Assets Available for Benefits for the Years Ended December 31, 2020 and 2019
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4
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Notes to Financial Statements as of and for the Years Ended December 31, 2020 and 2019
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5-10
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SUPPLEMENTAL SCHEDULES:
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11
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Form 5500, Schedule H, Part IV, Line 4i — Schedule of Assets (Held at End of Year) as of December 31, 2020
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12
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Form 5500, Schedule H, Part IV, Line 4j — Schedule of Reportable Transactions for the Year Ended December 31, 2020
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13
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NOTE:
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All other schedules required by Section 2520.103-10 of the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security
Act of 1974 have been omitted because they are not applicable.
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THE PROCTER & GAMBLE COMMERCIAL COMPANY
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EMPLOYEES’ SAVINGS PLAN
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STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
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AS OF DECEMBER 31, 2020 AND 2019
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2020
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2019
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ASSETS:
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Investments — at fair value:
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Cash
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$ 650
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$ 626
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The Procter & Gamble Company common stock
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19,775,133
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18,688,288
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The J.M. Smucker Company common stock
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53,870
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48,420
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Common collective trust fund
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32,062
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36,132
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Mutual funds
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27,798,414
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24,524,013
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Total Investments
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47,660,129
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43,297,479
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Receivables:
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Other
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3,805
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7,344
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Total Receivables
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3,805
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7,344
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Total Assets
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47,663,934
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43,304,823
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LIABILITY — Excess contributions payable
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2,751
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15,013
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NET ASSETS AVAILABLE FOR BENEFITS
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$ 47,661,183
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$ 43,289,810
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See notes to financial statements.
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THE PROCTER & GAMBLE COMMERCIAL COMPANY
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EMPLOYEES’ SAVINGS PLAN
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STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
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FOR THE YEARS ENDED DECEMBER 31, 2020 AND 2019
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2020
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2019
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ADDITIONS:
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Contributions:
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Participant contributions
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$ 216,105
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$ 210,789
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Employer contributions
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55,251
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56,355
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Total Contributions
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271,356
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267,144
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Investment income:
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Net appreciation in fair value of investments
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4,964,347
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9,031,865
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Dividends and interest
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857,135
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942,146
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Net Investment income
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5,821,482
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9,974,011
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TOTAL
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6,092,838
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10,241,155
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DEDUCTIONS:
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Benefits paid to participants
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1,699,673
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939,267
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Administrative expenses
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21,792
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24,545
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TOTAL
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1,721,465
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963,812
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NET INCREASE IN NET ASSETS
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4,371,373
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9,277,343
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NET ASSETS AVAILABLE FOR BENEFITS:
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Beginning of year
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43,289,810
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34,012,467
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End of year
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$ 47,661,183
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$ 43,289,810
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See notes to financial statements.
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1.
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DESCRIPTION OF THE PLAN
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2.
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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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3.
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FAIR VALUE MEASUREMENTS
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Fair Value Measurements | |||||
2020
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2019
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Cash - Level 1
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$ 650
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$ 626
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Common stock - Level 1
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19,829,003
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18,736,708
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Mutual funds - Level 1
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27,798,414
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24,524,013
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Sub-Total - Level 1
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47,628,067
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43,261,347
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Investments measured at NAV - Common collective trust fund
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32,062
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36,132
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Total
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$ 47,660,129
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$ 43,297,479
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4.
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NONPARTICIPANT-DIRECTED INVESTMENT
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2020
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2019
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Changes in net assets:
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Contributions
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$ 84,716
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$ 95,409
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Net appreciation in fair value of investments
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2,033,462
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5,194,488
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Dividends
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457,749
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464,376
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Benefits paid to participants
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(969,335)
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(550,688)
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Net transfers to participant-directed investments
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(509,447)
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(1,344,260)
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Management fees
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(10,300)
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(11,981)
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Net change
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1,086,845
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3,847,344
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The Procter & Gamble Company common stock — beginning
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of year
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18,688,288
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14,840,944
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The Procter & Gamble Company common stock — end of
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year
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$ 19,775,133
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$ 18,688,288
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5.
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EXEMPT PARTY-IN-INTEREST TRANSACTIONS
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2020
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2019
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Common stock:
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Shares
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142,124
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149,626
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Cost
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$ 9,139,039
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$ 9,226,943
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Dividend income
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$ 457,749
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$ 464,376
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6.
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PLAN TERMINATION
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7.
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TAX STATUS
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THE PROCTER & GAMBLE COMMERCIAL COMPANY
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EMPLOYEES’ SAVINGS PLAN
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FORM 5500, SCHEDULE H, PART IV, LINE 4i — SCHEDULE OF ASSETS (HELD AT END OF YEAR)
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AS OF DECEMBER 31, 2020
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EIN: 66-0676831
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PLAN: 002
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Description of
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Identity of Issue
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Investment
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Cost
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Fair Value
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*
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The Procter & Gamble Company
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Common stock
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$ 9,139,039
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$ 19,775,133
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The J.M. Smucker Company
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Common stock
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**
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53,870
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Vanguard FTSE All-World EX US Index Fund
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Mutual fund
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**
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1,864,102
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Vanguard Balanced Index Fund
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Mutual fund
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**
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5,120,829
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Vanguard Small Cap Index Fund
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Mutual fund
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**
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4,931,993
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Vanguard Inflation Protected Securities Fund
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Mutual fund
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**
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1,104,999
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Vanguard Total Bond Market Index Fund
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Mutual fund
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**
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2,011,175
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Vanguard Treasury Money Market-Inst Fund
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Mutual fund
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**
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3,163,581
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Vanguard Institutional Index Fund
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Mutual fund
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**
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9,601,735
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*
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Northern Trust Short Term Investment Fund
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Common Collective Trust
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**
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32,062
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*
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Banco Popular de P.R. (Time Deposit)
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Time deposit open account bearing interest at a variable rate (0.100% at Dec. 31, 2020)
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**
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650
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Total
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$ 47,660,129
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*
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Party-in-interest.
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**
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Cost information is not required for participant-directed investments and therefore is not included.
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THE PROCTER & GAMBLE COMMERCIAL COMPANY
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|||||||
EMPLOYEES’ SAVINGS PLAN
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|||||||
FORM 5500, SCHEDULE H, PART IV, LINE 4j — SCHEDULE OF REPORTABLE TRANSACTIONS
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FOR THE YEAR ENDED DECEMBER 31, 2020
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|||||||
EIN: 66-0676831
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|||||||
PLAN: 002
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SINGLE TRANSACTIONS — None.
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SERIES OF TRANSACTIONS
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Current
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Value of
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|||||||
Asset on
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Net
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Purchase
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Sales
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Cost of
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Transaction
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Gain
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Description of Asset
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Amount
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Amount
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Asset
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Date
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on Sale
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The Procter & Gamble Company common stock
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$ 751,929
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(54)
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-
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$ 751,929
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$ 751,929
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The Procter & Gamble Company common stock
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-
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$ 1,698,398
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(60)
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839,832
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1,698,398
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$ 858,566
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NOTES:
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All transactions are related to Parties in Interest.
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The number in parentheses represents the number of transactions in the series.
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