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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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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 Gillette Company Global Employee Stock Ownership Plan.
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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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SIGNATURE
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Susan Carver |
The Gillette Company Global Employee Stock Ownership Plan
Administrative Committee
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The Gillette Company
Global Employee Stock
Ownership Plan
Financial Statements as of December 31, 2020 and
2019, and for the Years Ended December 31, 2020,
2019 and 2018, and Report of Independent
Registered Public Accounting Firm
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TABLE OF CONTENTS | |||
Page | |||
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM | 1 | ||
FINANCIAL STATEMENTS: | |||
Statements of Net Assets Available for Plan Benefits as of December 31, 2020 and 2019 | 2 | ||
Statements of Changes in Net Assets Available for Plan Benefits for the Years Ended December 31, 2020, 2019 and 2018 | 3 | ||
Notes to Financial Statements as of December 31, 2020 and 2019, and for the
Years Ended December 31, 2020, 2019 and 2018
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4-8 | ||
2020
$
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2019
$
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||
ASSETS:
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|||
Investments – at fair value:
The Procter & Gamble Company common stock (cost $458,634 and $517,355 in 2020 and 2019 respectively) (Note 6)
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1,199,526
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1,245,003
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Cash at bank and in hand
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7,397
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-
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Total investments
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1,206,923
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1,245,003
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NET ASSETS AVAILABLE FOR PLAN BENEFITS
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1,206,923
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1,245,003
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ADDITIONS / (LOSSES):
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2020
$
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2019
$
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2018
$
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||
Investment income / (loss):
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|||||
Dividends from The Procter & Gamble Company common stock (Note 6)
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35,286
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26,433
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28,119
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Realized gain / (loss) on shares sold (Note 4)
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111,306
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114,531
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(20,502)
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Net appreciation / (depreciation) in fair value of The Procter & Gamble Company common stock (Note 4)
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13,243
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250,293
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(54,295)
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Total investment income / (loss)
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159,835
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391,257
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(46,678)
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Income from participating Procter & Gamble companies (Note 6)
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4,000
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5,000
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5,000
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Total Additions / (Losses)
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163,835
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396,257
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(41,678)
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DEDUCTIONS:
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Distributions and withdrawals to participants
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(197,915)
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(211,515)
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(53,099)
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Administrative expenses (Note 6)
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(4,000)
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(5,000)
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(5,000)
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Total deductions
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(201,915)
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(216,515)
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(58,099)
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(DECREASE) / INCERASE IN NET ASSETS
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(38,080)
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179,742
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(99,777)
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NET ASSETS AVAILABLE FOR PLAN BENEFITS:
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|||||
Beginning of year
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1,245,003
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1,065,261
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1,165,038
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End of year
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1,206,923
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1,245,003
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1,065,261
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1.
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DESCRIPTION OF THE PLAN
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1.
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DESCRIPTION OF THE PLAN (CONTINUED)
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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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3.
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FAIR VALUE MEASUREMENTS (CONTINUED)
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Level 1
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Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets that the plan has the ability to access.
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Level 2
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Inputs to the valuation methodology include:
• quoted prices for similar assets or liabilities in active markets;
• quoted prices for identical or similar assets or liabilities in inactive markets;
• inputs other than quoted prices that are observable for the asset or liability; and
• inputs that are derived principally from or corroborated by observable market data by correlation or other means.
If the asset or liability has a specified (contractual) term, the Level 2 input must be observable for substantially the full term of the asset or liability.
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Level 3
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Inputs to the valuation methodology are unobservable and significant to the fair value measurement.
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4.
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INVESTMENTS
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2020
$
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2019
$
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2018
$
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The Procter & Gamble Company
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common stock:
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Net appreciation / (depreciation) in fair value
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13,243
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250,293
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(54,295)
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2020
$
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2019
$
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2018
$
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Proceeds on sale of shares
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192,170
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210,186
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50,672
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Cost
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(80,864)
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(96,655)
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(71,174)
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Realized gain / (loss) on sales
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111,306
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114,531
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(20,502)
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5.
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FEDERAL INCOME TAX STATUS
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6.
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RELATED PARTY TRANSACTIONS
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7.
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PLAN TERMINATION
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8.
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SUBSEQUENT EVENTS
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