2015 Q2 Form 10-Q Financial Statement
#000120677415001565 Filed on May 04, 2015
Income Statement
| Concept | 2015 Q2 | 2015 Q1 | 2014 Q1 |
|---|---|---|---|
| Revenue | $1.557B | $1.401B | $1.386B |
| YoY Change | 4.01% | 1.08% | -1.91% |
| Cost Of Revenue | $847.0M | $796.0M | $791.0M |
| YoY Change | -0.94% | 0.63% | -1.37% |
| Gross Profit | $710.0M | $605.0M | $575.0M |
| YoY Change | 10.59% | 5.22% | -3.36% |
| Gross Profit Margin | 45.6% | 43.18% | 41.49% |
| Selling, General & Admin | $372.0M | $206.0M | $178.0M |
| YoY Change | 14.81% | 15.73% | -9.18% |
| % of Gross Profit | 52.39% | 34.05% | 30.96% |
| Research & Development | $39.00M | $34.00M | $28.00M |
| YoY Change | 11.43% | 21.43% | -17.65% |
| % of Gross Profit | 5.49% | 5.62% | 4.87% |
| Depreciation & Amortization | $43.00M | $41.00M | $43.00M |
| YoY Change | -12.24% | -4.65% | -6.52% |
| % of Gross Profit | 6.06% | 6.78% | 7.48% |
| Operating Expenses | $398.0M | $240.0M | $206.0M |
| YoY Change | 12.75% | 16.5% | -10.43% |
| Operating Profit | $312.0M | $365.0M | $369.0M |
| YoY Change | 7.96% | -1.08% | 1.1% |
| Interest Expense | -$23.00M | $25.00M | $25.00M |
| YoY Change | -11.54% | 0.0% | -16.67% |
| % of Operating Profit | -7.37% | 6.85% | 6.78% |
| Other Income/Expense, Net | |||
| YoY Change | |||
| Pretax Income | $289.0M | $217.0M | $226.0M |
| YoY Change | 9.89% | -3.98% | 11.88% |
| Income Tax | $100.0M | $73.00M | $75.00M |
| % Of Pretax Income | 34.6% | 33.64% | 33.19% |
| Net Earnings | $191.0M | $174.0M | $137.0M |
| YoY Change | 12.35% | 27.01% | 3.01% |
| Net Earnings / Revenue | 12.27% | 12.42% | 9.88% |
| Basic Earnings Per Share | $1.48 | $1.31 | $1.05 |
| Diluted Earnings Per Share | $1.46 | $1.30 | $1.04 |
| COMMON SHARES | |||
| Basic Shares Outstanding | 131.2M shares | 131.8M shares | 129.3M shares |
| Diluted Shares Outstanding | 134.1M shares | 131.6M shares |
Balance Sheet
| Concept | 2015 Q2 | 2015 Q1 | 2014 Q1 |
|---|---|---|---|
| SHORT-TERM ASSETS | |||
| Cash & Short-Term Investments | $382.0M | $378.0M | $364.0M |
| YoY Change | 16.11% | 3.85% | -13.95% |
| Cash & Equivalents | $382.0M | $378.0M | $364.0M |
| Short-Term Investments | |||
| Other Short-Term Assets | $143.0M | $149.0M | $158.0M |
| YoY Change | 6.72% | -5.7% | 6.04% |
| Inventory | $385.0M | $440.0M | $447.0M |
| Prepaid Expenses | $39.00M | ||
| Receivables | $519.0M | $528.0M | $551.0M |
| Other Receivables | $0.00 | $0.00 | $0.00 |
| Total Short-Term Assets | $1.429B | $1.495B | $1.520B |
| YoY Change | 2.44% | -1.64% | -4.28% |
| LONG-TERM ASSETS | |||
| Property, Plant & Equipment | $918.0M | $917.0M | $970.0M |
| YoY Change | -6.04% | -5.46% | -6.82% |
| Goodwill | $1.067B | $1.067B | $1.096B |
| YoY Change | -3.09% | -2.65% | -1.97% |
| Intangibles | |||
| YoY Change | |||
| Long-Term Investments | $1.000M | ||
| YoY Change | |||
| Other Assets | $165.0M | $162.0M | $174.0M |
| YoY Change | -5.17% | -6.9% | 21.68% |
| Total Long-Term Assets | $2.725B | $2.733B | $2.854B |
| YoY Change | -4.59% | -4.24% | -2.76% |
| TOTAL ASSETS | |||
| Total Short-Term Assets | $1.429B | $1.495B | $1.520B |
| Total Long-Term Assets | $2.725B | $2.733B | $2.854B |
| Total Assets | $4.154B | $4.228B | $4.374B |
| YoY Change | -2.28% | -3.34% | -3.29% |
| SHORT-TERM LIABILITIES | |||
| YoY Change | |||
| Accounts Payable | $431.0M | $397.0M | $388.0M |
| YoY Change | -2.05% | 2.32% | -0.51% |
| Accrued Expenses | $548.0M | $533.0M | $481.0M |
| YoY Change | 16.1% | 10.81% | -4.37% |
| Deferred Revenue | |||
| YoY Change | |||
| Short-Term Debt | $95.00M | $70.00M | $394.0M |
| YoY Change | -33.57% | -82.23% | 0.51% |
| Long-Term Debt Due | $300.0M | $300.0M | $575.0M |
| YoY Change | -47.83% | -47.83% | |
| Total Short-Term Liabilities | $1.405B | $1.300B | $1.838B |
| YoY Change | -14.22% | -29.27% | 40.52% |
| LONG-TERM LIABILITIES | |||
| Long-Term Debt | $1.786B | $1.796B | $1.595B |
| YoY Change | 12.47% | 12.6% | -26.46% |
| Other Long-Term Liabilities | $750.0M | $733.0M | $764.0M |
| YoY Change | -2.34% | -4.06% | -2.92% |
| Total Long-Term Liabilities | $2.536B | $2.529B | $2.359B |
| YoY Change | 7.64% | 7.21% | -20.2% |
| TOTAL LIABILITIES | |||
| Total Short-Term Liabilities | $1.405B | $1.300B | $1.838B |
| Total Long-Term Liabilities | $2.536B | $2.529B | $2.359B |
| Total Liabilities | $4.046B | $3.926B | $4.321B |
| YoY Change | -1.41% | -9.14% | -1.14% |
| SHAREHOLDERS EQUITY | |||
| Retained Earnings | $1.923B | $1.832B | $1.667B |
| YoY Change | 10.58% | 9.9% | 13.09% |
| Common Stock | $934.0M | $921.0M | $858.0M |
| YoY Change | 7.6% | 7.34% | 5.41% |
| Preferred Stock | |||
| YoY Change | |||
| Treasury Stock (at cost) | $2.237B | $1.970B | $2.054B |
| YoY Change | 9.87% | -4.09% | 16.84% |
| Treasury Stock Shares | 30.13M shares | 27.73M shares | 30.24M shares |
| Shareholders Equity | $118.0M | $302.0M | $53.00M |
| YoY Change | |||
| Total Liabilities & Shareholders Equity | $4.164B | $4.228B | $4.374B |
| YoY Change | -2.21% | -3.34% | -3.29% |
Cashflow Statement
| Concept | 2015 Q2 | 2015 Q1 | 2014 Q1 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net Income | $191.0M | $174.0M | $137.0M |
| YoY Change | 12.35% | 27.01% | 3.01% |
| Depreciation, Depletion And Amortization | $43.00M | $41.00M | $43.00M |
| YoY Change | -12.24% | -4.65% | -6.52% |
| Cash From Operating Activities | $379.0M | $218.0M | $220.0M |
| YoY Change | 12.46% | -0.91% | 37.5% |
| INVESTING ACTIVITIES | |||
| Capital Expenditures | -$42.00M | -$23.00M | -$24.00M |
| YoY Change | -17.65% | -4.17% | -25.0% |
| Acquisitions | |||
| YoY Change | |||
| Other Investing Activities | $16.00M | $0.00 | -$3.000M |
| YoY Change | 700.0% | -100.0% | 200.0% |
| Cash From Investing Activities | -$26.00M | -$23.00M | -$27.00M |
| YoY Change | -46.94% | -14.81% | -18.18% |
| FINANCING ACTIVITIES | |||
| Cash Dividend Paid | |||
| YoY Change | |||
| Common Stock Issuance & Retirement, Net | |||
| YoY Change | |||
| Debt Paid & Issued, Net | |||
| YoY Change | |||
| Cash From Financing Activities | -348.0M | -629.0M | -164.0M |
| YoY Change | 7.08% | 283.54% | 10.81% |
| NET CHANGE | |||
| Cash From Operating Activities | 379.0M | 218.0M | 220.0M |
| Cash From Investing Activities | -26.00M | -23.00M | -27.00M |
| Cash From Financing Activities | -348.0M | -629.0M | -164.0M |
| Net Change In Cash | 5.000M | -434.0M | 29.00M |
| YoY Change | -113.51% | -1596.55% | -238.1% |
| FREE CASH FLOW | |||
| Cash From Operating Activities | $379.0M | $218.0M | $220.0M |
| Capital Expenditures | -$42.00M | -$23.00M | -$24.00M |
| Free Cash Flow | $421.0M | $241.0M | $244.0M |
| YoY Change | 8.51% | -1.23% | 27.08% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| dei |
Amendment Flag
AmendmentFlag
|
false | ||
| dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--06-30 | ||
| dei |
Entity Current Reporting Status
EntityCurrentReportingStatus
|
Yes | ||
| CY2015Q1 | us-gaap |
Sales Revenue Net
SalesRevenueNet
|
1401000000 | USD |
| us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
568000000 | USD | |
| CY2015Q1 | us-gaap |
Advertising Expense
AdvertisingExpense
|
124000000 | USD |
| CY2014Q1 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
178000000 | USD |
| us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
577000000 | USD | |
| us-gaap |
Sales Revenue Net
SalesRevenueNet
|
4098000000 | USD | |
| CY2015Q1 | us-gaap |
Cost Of Goods Sold
CostOfGoodsSold
|
796000000 | USD |
| CY2014Q1 | us-gaap |
Cost Of Goods Sold
CostOfGoodsSold
|
791000000 | USD |
| us-gaap |
Cost Of Goods Sold
CostOfGoodsSold
|
2343000000 | USD | |
| us-gaap |
Cost Of Goods Sold
CostOfGoodsSold
|
2303000000 | USD | |
| CY2015Q1 | us-gaap |
Gross Profit
GrossProfit
|
605000000 | USD |
| CY2014Q1 | us-gaap |
Gross Profit
GrossProfit
|
575000000 | USD |
| us-gaap |
Gross Profit
GrossProfit
|
1755000000 | USD | |
| us-gaap |
Gross Profit
GrossProfit
|
1714000000 | USD | |
| CY2015Q1 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
206000000 | USD |
| CY2014Q1 | us-gaap |
Advertising Expense
AdvertisingExpense
|
120000000 | USD |
| us-gaap |
Advertising Expense
AdvertisingExpense
|
372000000 | USD | |
| us-gaap |
Advertising Expense
AdvertisingExpense
|
362000000 | USD | |
| CY2015Q1 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
34000000 | USD |
| CY2014Q1 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
28000000 | USD |
| us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
97000000 | USD | |
| us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
90000000 | USD | |
| CY2015Q1 | us-gaap |
Interest Expense
InterestExpense
|
25000000 | USD |
| CY2014Q1 | us-gaap |
Interest Expense
InterestExpense
|
25000000 | USD |
| us-gaap |
Interest Expense
InterestExpense
|
77000000 | USD | |
| us-gaap |
Interest Expense
InterestExpense
|
77000000 | USD | |
| CY2015Q1 | clx |
Other Income Expense Net
OtherIncomeExpenseNet
|
-1000000 | USD |
| CY2014Q1 | clx |
Other Income Expense Net
OtherIncomeExpenseNet
|
-2000000 | USD |
| clx |
Other Income Expense Net
OtherIncomeExpenseNet
|
-4000000 | USD | |
| CY2015Q1 | clx |
Earnings Losses From Continuing Operations Before Income Taxes
EarningsLossesFromContinuingOperationsBeforeIncomeTaxes
|
217000000 | USD |
| CY2014Q1 | clx |
Earnings Losses From Continuing Operations Before Income Taxes
EarningsLossesFromContinuingOperationsBeforeIncomeTaxes
|
226000000 | USD |
| clx |
Earnings Losses From Continuing Operations Before Income Taxes
EarningsLossesFromContinuingOperationsBeforeIncomeTaxes
|
632000000 | USD | |
| clx |
Earnings Losses From Continuing Operations Before Income Taxes
EarningsLossesFromContinuingOperationsBeforeIncomeTaxes
|
621000000 | USD | |
| CY2015Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
73000000 | USD |
| CY2014Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
75000000 | USD |
| us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
215000000 | USD | |
| us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
213000000 | USD | |
| CY2015Q1 | us-gaap |
Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
|
144000000 | USD |
| CY2014Q1 | us-gaap |
Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
|
151000000 | USD |
| us-gaap |
Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
|
417000000 | USD | |
| us-gaap |
Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
|
408000000 | USD | |
| CY2015Q1 | us-gaap |
Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
|
30000000 | USD |
| CY2014Q1 | us-gaap |
Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
|
-14000000 | USD |
| us-gaap |
Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
|
-28000000 | USD | |
| CY2014Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
137000000 | USD |
| us-gaap |
Net Income Loss
NetIncomeLoss
|
389000000 | USD | |
| us-gaap |
Net Income Loss
NetIncomeLoss
|
388000000 | USD | |
| CY2015Q1 | us-gaap |
Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
|
1.09 | |
| CY2014Q1 | us-gaap |
Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
|
1.16 | |
| us-gaap |
Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
|
3.20 | ||
| us-gaap |
Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
|
3.15 | ||
| CY2015Q1 | us-gaap |
Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
|
0.22 | |
| us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
337000000 | USD | |
| us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
325000000 | USD | |
| CY2015Q1 | us-gaap |
Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
|
0.22 | |
| CY2014Q1 | us-gaap |
Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
|
-0.10 | |
| us-gaap |
Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
|
-0.21 | ||
| us-gaap |
Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
|
-0.16 | ||
| us-gaap |
Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
|
-0.22 | ||
| us-gaap |
Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
|
-0.16 | ||
| CY2015Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
1.31 | |
| CY2014Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
1.05 | |
| us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
2.98 | ||
| us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
2.99 | ||
| CY2015Q1 | us-gaap |
Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
|
1.08 | |
| CY2014Q1 | us-gaap |
Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
|
1.14 | |
| us-gaap |
Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
|
3.14 | ||
| us-gaap |
Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
|
3.10 | ||
| CY2015Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
1.30 | |
| CY2014Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
1.04 | |
| us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
2.93 | ||
| us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
2.94 | ||
| CY2015Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
131833000 | shares |
| CY2014Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
129318000 | shares |
| us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
133090000 | shares | |
| us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
132004000 | shares | |
| CY2015Q1 | us-gaap |
Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
|
0.74 | |
| CY2014Q1 | us-gaap |
Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
|
0.71 | |
| us-gaap |
Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
|
2.22 | ||
| us-gaap |
Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
|
2.13 | ||
| CY2015Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
146000000 | USD |
| CY2014Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
106000000 | USD |
| us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
2261000 | shares | |
| CY2014Q2 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
768000000 | USD |
| CY2014Q2 | clx |
Trademarks Net
TrademarksNet
|
547000000 | USD |
| CY2015Q1 | clx |
Low Income Housing Partnerships Investment
LowIncomeHousingPartnershipsInvestment
|
1000000 | USD |
| CY2014Q2 | clx |
Low Income Housing Partnerships Investment
LowIncomeHousingPartnershipsInvestment
|
4000000 | USD |
| us-gaap |
Basis Of Accounting
BasisOfAccounting
|
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style="margin: 0pt; font-family: 'times new roman';"><font style="font-size: 11pt; font-family: arial, helvetica, sans-serif;"><strong>Basis of Presentation</strong></font></p> <p style="margin: 0pt; font-family: 'times new roman';"><font style="font-size: 11pt; font-family: arial, helvetica, sans-serif;"> </font></p> <p style="margin: 0pt; font-family: 'times new roman';"><font style="font-size: 11pt; font-family: arial, helvetica, sans-serif;">The unaudited interim condensed consolidated financial statements for the three and nine months ended March 31, 2015 and 2014, in the opinion of management, reflect all adjustments (consisting of normal recurring accruals) necessary for a fair presentation of the consolidated results of operations, financial position and cash flows of The Clorox Company and its subsidiaries (the Company) for the periods presented. The results for the interim period ended March 31, 2015, are not necessarily indicative of the results that may be expected for the fiscal year ending June 30, 2015, or for any other future period.</font></p> <p style="margin: 0pt; font-family: 'times new roman';"><font style="font-size: 11pt; font-family: arial, helvetica, sans-serif;"> </font></p> <p style="margin: 0pt; font-family: 'times new roman';"><font style="font-size: 11pt; font-family: arial, helvetica, sans-serif;">Effective September 22, 2014, the Company's Venezuela affiliate, Corporación Clorox de Venezuela S.A. (Clorox Venezuela), discontinued its operations. Consequently, for the three and nine months ended March 31, 2015 and 2014, Clorox Venezuela is reflected as a discontinued operation in the Company's financial statements.</font></p> <p style="margin: 0pt; font-family: 'times new roman';"><font style="font-size: 11pt; font-family: arial, helvetica, sans-serif;"> </font></p> <p style="margin: 0pt; font-family: 'times new roman';"><font style="font-size: 11pt; font-family: arial, helvetica, sans-serif;">Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States of America (U.S. GAAP) have been omitted or condensed pursuant to the rules and regulations of the Securities and Exchange Commission (SEC). The information in this report should be read in conjunction with the Company's audited financial statements for the fiscal year ended June 30, 2014, which includes a complete set of footnote disclosures, including the Company's significant accounting policies, filed with the SEC in Exhibit 99.2 of the Company's Current Report on Form 8-K on December 4, 2014.</font></p> </div> | ||
| us-gaap |
Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
|
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style="margin: 0pt; font-family: 'times new roman';"><font style="font-size: 11pt; font-family: arial, helvetica, sans-serif;"><strong>Recently Issued Accounting Pronouncements<br/><br/></strong>In April 2015, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2015-03, “Simplifying the Presentation of Debt Issuance Cost,” which requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The new guidance is effective for the Company beginning in the first quarter of fiscal year 2017, with early adoption permitted. The Company is currently evaluating the impact that adoption of ASU 2015-03 will have on its consolidated financial statements.</font></p> <p style="margin: 0pt; font-family: 'times new roman';"><font style="font-size: 11pt; font-family: arial, helvetica, sans-serif;"> <br/></font></p> <p style="margin: 0pt; font-family: 'times new roman';"><font style="font-family: arial, helvetica, sans-serif; font-size: 11pt;">In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606),” which replaces most existing U.S. GAAP revenue recognition guidance and is intended to improve and converge with international standards the financial reporting requirements for revenue from contracts with customers. The core principle of ASU 2014-09 is that an entity should recognize revenue for the transfer of goods or services equal to the amount that it expects to be entitled to receive for those goods or services. ASU 2014-09 also requires additional disclosures about the nature, timing and uncertainty of revenue and cash flows arising from contracts with customers, including information about significant judgments and changes in judgments. The new guidance is expected to be effective for the Company beginning in the first quarter of fiscal year 2018, with no early adoption permitted. The Company is currently evaluating the impact that adoption of ASU 2014-09 will have on its consolidated financial statements.</font></p> <p style="margin: 0pt; font-family: 'times new roman';"><font style="font-size: 11pt; font-family: arial, helvetica, sans-serif;"> </font></p> <p style="margin: 0pt; font-family: 'times new roman';"><font style="font-size: 11pt; font-family: arial, helvetica, sans-serif;">In April 2014, the FASB issued ASU No 2014-08 “Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity (Topic 205)”, which will change the criteria for reporting discontinued operations. The amendments will also require new disclosures about discontinued operations and disposals of components of an entity that do not qualify for discontinued operations reporting. The amendments are effective for the Company for new disposals (or classifications as held for sale) of components of the Company, should they occur, beginning in the first quarter of fiscal year 2016. Early adoption is permitted for disposals (or classifications as held for sale) that have not been previously reported. The Company will adopt this ASU beginning in the first quarter of fiscal year 2016, as required. Adoption of the new standard will not impact the <!-- [if gte mso 9]><xml> <o:OfficeDocumentSettings> <o:AllowPNG></o:AllowPNG> </o:OfficeDocumentSettings> </xml><![endif]--> <!-- [if gte mso 9]><xml> <w:WordDocument> <w:View>Normal</w:View> <w:Zoom>0</w:Zoom> <w:TrackMoves></w:TrackMoves> <w:TrackFormatting></w:TrackFormatting> <w:PunctuationKerning></w:PunctuationKerning> <w:ValidateAgainstSchemas></w:ValidateAgainstSchemas> <w:SaveIfXMLInvalid>false</w:SaveIfXMLInvalid> <w:IgnoreMixedContent>false</w:IgnoreMixedContent> <w:AlwaysShowPlaceholderText>false</w:AlwaysShowPlaceholderText> <w:DoNotPromoteQF></w:DoNotPromoteQF> <w:LidThemeOther>EN-US</w:LidThemeOther> <w:LidThemeAsian>X-NONE</w:LidThemeAsian> <w:LidThemeComplexScript>X-NONE</w:LidThemeComplexScript> <w:Compatibility> <w:BreakWrappedTables></w:BreakWrappedTables> <w:SnapToGridInCell></w:SnapToGridInCell> <w:WrapTextWithPunct></w:WrapTextWithPunct> <w:UseAsianBreakRules></w:UseAsianBreakRules> <w:DontGrowAutofit></w:DontGrowAutofit> <w:SplitPgBreakAndParaMark></w:SplitPgBreakAndParaMark> <w:DontVertAlignCellWithSp></w:DontVertAlignCellWithSp> <w:DontBreakConstrainedForcedTables></w:DontBreakConstrainedForcedTables> <w:DontVertAlignInTxbx></w:DontVertAlignInTxbx> <w:Word11KerningPairs></w:Word11KerningPairs> <w:CachedColBalance></w:CachedColBalance> </w:Compatibility> <m:mathPr> <m:mathFont m:val="Cambria Math"></m:mathFont> <m:brkBin m:val="before"></m:brkBin> <m:brkBinSub m:val="--"></m:brkBinSub> <m:smallFrac m:val="off"></m:smallFrac> <m:dispDef></m:dispDef> <m:lMargin m:val="0"></m:lMargin> <m:rMargin m:val="0"></m:rMargin> <m:defJc m:val="centerGroup"></m:defJc> <m:wrapIndent m:val="1440"></m:wrapIndent> <m:intLim m:val="subSup"></m:intLim> <m:naryLim m:val="undOvr"></m:naryLim> </m:mathPr></w:WordDocument> </xml><![endif]--><!-- [if gte mso 9]><xml> <w:LatentStyles DefLockedState="false" DefUnhideWhenUsed="true" DefSemiHidden="true" DefQFormat="false" DefPriority="99" LatentStyleCount="267"> <w:LsdException Locked="false" Priority="0" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Normal"></w:LsdException> <w:LsdException Locked="false" Priority="9" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="heading 1"></w:LsdException> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 2"></w:LsdException> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 3"></w:LsdException> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 4"></w:LsdException> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 5"></w:LsdException> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 6"></w:LsdException> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 7"></w:LsdException> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 8"></w:LsdException> <w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 9"></w:LsdException> <w:LsdException Locked="false" Priority="39" Name="toc 1"></w:LsdException> <w:LsdException Locked="false" Priority="39" Name="toc 2"></w:LsdException> <w:LsdException Locked="false" Priority="39" Name="toc 3"></w:LsdException> <w:LsdException Locked="false" Priority="39" Name="toc 4"></w:LsdException> <w:LsdException Locked="false" Priority="39" Name="toc 5"></w:LsdException> <w:LsdException Locked="false" Priority="39" Name="toc 6"></w:LsdException> <w:LsdException Locked="false" Priority="39" Name="toc 7"></w:LsdException> <w:LsdException Locked="false" Priority="39" Name="toc 8"></w:LsdException> <w:LsdException Locked="false" Priority="39" Name="toc 9"></w:LsdException> <w:LsdException Locked="false" Priority="35" QFormat="true" Name="caption"></w:LsdException> <w:LsdException Locked="false" Priority="10" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Title"></w:LsdException> <w:LsdException Locked="false" Priority="1" Name="Default Paragraph Font"></w:LsdException> <w:LsdException Locked="false" Priority="11" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Subtitle"></w:LsdException> <w:LsdException Locked="false" Priority="22" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Strong"></w:LsdException> <w:LsdException Locked="false" Priority="20" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Emphasis"></w:LsdException> <w:LsdException Locked="false" Priority="59" SemiHidden="false" UnhideWhenUsed="false" Name="Table Grid"></w:LsdException> <w:LsdException Locked="false" UnhideWhenUsed="false" Name="Placeholder Text"></w:LsdException> <w:LsdException Locked="false" Priority="1" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="No Spacing"></w:LsdException> <w:LsdException Locked="false" Priority="60" SemiHidden="false" UnhideWhenUsed="false" Name="Light Shading"></w:LsdException> <w:LsdException Locked="false" Priority="61" SemiHidden="false" UnhideWhenUsed="false" Name="Light List"></w:LsdException> <w:LsdException Locked="false" Priority="62" SemiHidden="false" UnhideWhenUsed="false" Name="Light Grid"></w:LsdException> <w:LsdException Locked="false" Priority="63" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 1"></w:LsdException> <w:LsdException Locked="false" Priority="64" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 2"></w:LsdException> <w:LsdException Locked="false" Priority="65" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 1"></w:LsdException> <w:LsdException Locked="false" Priority="66" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 2"></w:LsdException> <w:LsdException Locked="false" Priority="67" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 1"></w:LsdException> <w:LsdException Locked="false" Priority="68" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 2"></w:LsdException> <w:LsdException Locked="false" Priority="69" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 3"></w:LsdException> <w:LsdException Locked="false" Priority="70" SemiHidden="false" UnhideWhenUsed="false" Name="Dark List"></w:LsdException> <w:LsdException Locked="false" Priority="71" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Shading"></w:LsdException> <w:LsdException Locked="false" Priority="72" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful List"></w:LsdException> <w:LsdException Locked="false" Priority="73" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Grid"></w:LsdException> <w:LsdException Locked="false" Priority="60" SemiHidden="false" UnhideWhenUsed="false" Name="Light Shading Accent 1"></w:LsdException> <w:LsdException Locked="false" Priority="61" SemiHidden="false" UnhideWhenUsed="false" Name="Light List Accent 1"></w:LsdException> <w:LsdException Locked="false" Priority="62" SemiHidden="false" UnhideWhenUsed="false" Name="Light Grid Accent 1"></w:LsdException> <w:LsdException Locked="false" Priority="63" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 1 Accent 1"></w:LsdException> <w:LsdException Locked="false" Priority="64" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 2 Accent 1"></w:LsdException> <w:LsdException Locked="false" Priority="65" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 1 Accent 1"></w:LsdException> <w:LsdException Locked="false" UnhideWhenUsed="false" Name="Revision"></w:LsdException> <w:LsdException Locked="false" Priority="34" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="List Paragraph"></w:LsdException> <w:LsdException Locked="false" Priority="29" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Quote"></w:LsdException> <w:LsdException Locked="false" Priority="30" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Intense Quote"></w:LsdException> <w:LsdException Locked="false" Priority="66" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 2 Accent 1"></w:LsdException> <w:LsdException Locked="false" Priority="67" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 1 Accent 1"></w:LsdException> <w:LsdException Locked="false" Priority="68" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 2 Accent 1"></w:LsdException> <w:LsdException Locked="false" Priority="69" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 3 Accent 1"></w:LsdException> <w:LsdException Locked="false" Priority="70" SemiHidden="false" UnhideWhenUsed="false" Name="Dark List Accent 1"></w:LsdException> <w:LsdException Locked="false" Priority="71" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Shading Accent 1"></w:LsdException> <w:LsdException Locked="false" Priority="72" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful List Accent 1"></w:LsdException> <w:LsdException Locked="false" Priority="73" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Grid Accent 1"></w:LsdException> <w:LsdException Locked="false" Priority="60" SemiHidden="false" UnhideWhenUsed="false" Name="Light Shading Accent 2"></w:LsdException> <w:LsdException Locked="false" Priority="61" SemiHidden="false" UnhideWhenUsed="false" Name="Light List Accent 2"></w:LsdException> <w:LsdException Locked="false" Priority="62" SemiHidden="false" UnhideWhenUsed="false" Name="Light Grid Accent 2"></w:LsdException> <w:LsdException Locked="false" Priority="63" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 1 Accent 2"></w:LsdException> <w:LsdException Locked="false" Priority="64" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 2 Accent 2"></w:LsdException> <w:LsdException Locked="false" Priority="65" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 1 Accent 2"></w:LsdException> <w:LsdException Locked="false" Priority="66" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 2 Accent 2"></w:LsdException> <w:LsdException Locked="false" Priority="67" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 1 Accent 2"></w:LsdException> <w:LsdException Locked="false" Priority="68" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 2 Accent 2"></w:LsdException> <w:LsdException Locked="false" Priority="69" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 3 Accent 2"></w:LsdException> <w:LsdException Locked="false" Priority="70" SemiHidden="false" UnhideWhenUsed="false" Name="Dark List Accent 2"></w:LsdException> <w:LsdException Locked="false" Priority="71" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Shading Accent 2"></w:LsdException> <w:LsdException Locked="false" Priority="72" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful List Accent 2"></w:LsdException> <w:LsdException Locked="false" Priority="73" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Grid Accent 2"></w:LsdException> <w:LsdException Locked="false" Priority="60" SemiHidden="false" UnhideWhenUsed="false" Name="Light Shading Accent 3"></w:LsdException> <w:LsdException Locked="false" Priority="61" SemiHidden="false" UnhideWhenUsed="false" Name="Light List Accent 3"></w:LsdException> <w:LsdException Locked="false" Priority="62" SemiHidden="false" UnhideWhenUsed="false" Name="Light Grid Accent 3"></w:LsdException> <w:LsdException Locked="false" Priority="63" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 1 Accent 3"></w:LsdException> <w:LsdException Locked="false" Priority="64" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 2 Accent 3"></w:LsdException> <w:LsdException Locked="false" Priority="65" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 1 Accent 3"></w:LsdException> <w:LsdException Locked="false" Priority="66" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 2 Accent 3"></w:LsdException> <w:LsdException Locked="false" Priority="67" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 1 Accent 3"></w:LsdException> <w:LsdException Locked="false" Priority="68" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 2 Accent 3"></w:LsdException> <w:LsdException Locked="false" Priority="69" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 3 Accent 3"></w:LsdException> <w:LsdException Locked="false" Priority="70" SemiHidden="false" UnhideWhenUsed="false" Name="Dark List Accent 3"></w:LsdException> <w:LsdException Locked="false" Priority="71" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Shading Accent 3"></w:LsdException> <w:LsdException Locked="false" Priority="72" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful List Accent 3"></w:LsdException> <w:LsdException Locked="false" Priority="73" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Grid Accent 3"></w:LsdException> <w:LsdException Locked="false" Priority="60" SemiHidden="false" UnhideWhenUsed="false" Name="Light Shading Accent 4"></w:LsdException> <w:LsdException Locked="false" Priority="61" SemiHidden="false" UnhideWhenUsed="false" Name="Light List Accent 4"></w:LsdException> <w:LsdException Locked="false" Priority="62" SemiHidden="false" UnhideWhenUsed="false" Name="Light Grid Accent 4"></w:LsdException> <w:LsdException Locked="false" Priority="63" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 1 Accent 4"></w:LsdException> <w:LsdException Locked="false" Priority="64" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 2 Accent 4"></w:LsdException> <w:LsdException Locked="false" Priority="65" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 1 Accent 4"></w:LsdException> <w:LsdException Locked="false" Priority="66" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 2 Accent 4"></w:LsdException> <w:LsdException Locked="false" Priority="67" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 1 Accent 4"></w:LsdException> <w:LsdException Locked="false" Priority="68" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 2 Accent 4"></w:LsdException> <w:LsdException Locked="false" Priority="69" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 3 Accent 4"></w:LsdException> <w:LsdException Locked="false" Priority="70" SemiHidden="false" UnhideWhenUsed="false" Name="Dark List Accent 4"></w:LsdException> <w:LsdException Locked="false" Priority="71" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Shading Accent 4"></w:LsdException> <w:LsdException Locked="false" Priority="72" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful List Accent 4"></w:LsdException> <w:LsdException Locked="false" Priority="73" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Grid Accent 4"></w:LsdException> <w:LsdException Locked="false" Priority="60" SemiHidden="false" UnhideWhenUsed="false" Name="Light Shading Accent 5"></w:LsdException> <w:LsdException Locked="false" Priority="61" SemiHidden="false" UnhideWhenUsed="false" Name="Light List Accent 5"></w:LsdException> <w:LsdException Locked="false" Priority="62" SemiHidden="false" UnhideWhenUsed="false" Name="Light Grid Accent 5"></w:LsdException> <w:LsdException Locked="false" Priority="63" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 1 Accent 5"></w:LsdException> <w:LsdException Locked="false" Priority="64" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 2 Accent 5"></w:LsdException> <w:LsdException Locked="false" Priority="65" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 1 Accent 5"></w:LsdException> <w:LsdException Locked="false" Priority="66" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 2 Accent 5"></w:LsdException> <w:LsdException Locked="false" Priority="67" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 1 Accent 5"></w:LsdException> <w:LsdException Locked="false" Priority="68" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 2 Accent 5"></w:LsdException> <w:LsdException Locked="false" Priority="69" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 3 Accent 5"></w:LsdException> <w:LsdException Locked="false" Priority="70" SemiHidden="false" UnhideWhenUsed="false" Name="Dark List Accent 5"></w:LsdException> <w:LsdException Locked="false" Priority="71" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Shading Accent 5"></w:LsdException> <w:LsdException Locked="false" Priority="72" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful List Accent 5"></w:LsdException> <w:LsdException Locked="false" Priority="73" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Grid Accent 5"></w:LsdException> <w:LsdException Locked="false" Priority="60" SemiHidden="false" UnhideWhenUsed="false" Name="Light Shading Accent 6"></w:LsdException> <w:LsdException Locked="false" Priority="61" SemiHidden="false" UnhideWhenUsed="false" Name="Light List Accent 6"></w:LsdException> <w:LsdException Locked="false" Priority="62" SemiHidden="false" UnhideWhenUsed="false" Name="Light Grid Accent 6"></w:LsdException> <w:LsdException Locked="false" Priority="63" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 1 Accent 6"></w:LsdException> <w:LsdException Locked="false" Priority="64" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Shading 2 Accent 6"></w:LsdException> <w:LsdException Locked="false" Priority="65" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 1 Accent 6"></w:LsdException> <w:LsdException Locked="false" Priority="66" SemiHidden="false" UnhideWhenUsed="false" Name="Medium List 2 Accent 6"></w:LsdException> <w:LsdException Locked="false" Priority="67" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 1 Accent 6"></w:LsdException> <w:LsdException Locked="false" Priority="68" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 2 Accent 6"></w:LsdException> <w:LsdException Locked="false" Priority="69" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 3 Accent 6"></w:LsdException> <w:LsdException Locked="false" Priority="70" SemiHidden="false" UnhideWhenUsed="false" Name="Dark List Accent 6"></w:LsdException> <w:LsdException Locked="false" Priority="71" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Shading Accent 6"></w:LsdException> <w:LsdException Locked="false" Priority="72" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful List Accent 6"></w:LsdException> <w:LsdException Locked="false" Priority="73" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Grid Accent 6"></w:LsdException> <w:LsdException Locked="false" Priority="19" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Subtle Emphasis"></w:LsdException> <w:LsdException Locked="false" Priority="21" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Intense Emphasis"></w:LsdException> <w:LsdException Locked="false" Priority="31" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Subtle Reference"></w:LsdException> <w:LsdException Locked="false" Priority="32" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Intense Reference"></w:LsdException> <w:LsdException Locked="false" Priority="33" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Book Title"></w:LsdException> <w:LsdException Locked="false" Priority="37" Name="Bibliography"></w:LsdException> <w:LsdException Locked="false" Priority="39" QFormat="true" Name="TOC Heading"></w:LsdException> </w:LatentStyles> </xml><![endif]--> <!-- [if gte mso 10]> <style> /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:"Times New Roman"; mso-fareast-theme-font:minor-fareast; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin; mso-bidi-font-family:"Times New Roman"; mso-bidi-theme-font:minor-bidi;} </style> <![endif]--> Company's reporting or disclosures for discontinued operations of Clorox Venezuela.</font></p> </div> | ||
| CY2014Q2 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
312000000 | USD |
| CY2014Q2 | us-gaap |
Inventory Raw Materials
InventoryRawMaterials
|
108000000 | USD |
| CY2014Q2 | us-gaap |
Inventory Work In Process
InventoryWorkInProcess
|
2000000 | USD |
| CY2014Q2 | us-gaap |
Inventory Lifo Reserve
InventoryLIFOReserve
|
36000000 | USD |
| CY2014Q2 | us-gaap |
Inventory Net
InventoryNet
|
386000000 | USD |
| CY2014Q2 | clx |
Venture Agreement Net Terminal Obligation
VentureAgreementNetTerminalObligation
|
290000000 | USD |
| CY2014Q2 | clx |
Employee Benefit Obligations Noncurrent
EmployeeBenefitObligationsNoncurrent
|
289000000 | USD |
| CY2014Q2 | us-gaap |
Liability For Uncertain Tax Positions Noncurrent
LiabilityForUncertainTaxPositionsNoncurrent
|
76000000 | USD |
| CY2014Q2 | us-gaap |
Liabilities Other Than Longterm Debt Noncurrent
LiabilitiesOtherThanLongtermDebtNoncurrent
|
113000000 | USD |
| CY2014Q1 | us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
2237000 | shares |
| us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
0 | shares | |
| CY2014Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
0 | shares |
| CY2014Q1 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.332 | pure |
| us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.343 | pure | |
| CY2014Q2 | us-gaap |
Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
|
11000000 | USD |
| CY2015Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
378000000 | USD |
| CY2014Q2 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
329000000 | USD |
| CY2015Q1 | us-gaap |
Receivables Net Current
ReceivablesNetCurrent
|
528000000 | USD |
| CY2014Q2 | us-gaap |
Receivables Net Current
ReceivablesNetCurrent
|
546000000 | USD |
| CY2015Q1 | us-gaap |
Inventory Net
InventoryNet
|
440000000 | USD |
| CY2015Q1 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
149000000 | USD |
| CY2014Q2 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
134000000 | USD |
| CY2015Q1 | us-gaap |
Assets Current
AssetsCurrent
|
1495000000 | USD |
| CY2014Q2 | us-gaap |
Assets Current
AssetsCurrent
|
1395000000 | USD |
| CY2014Q2 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
1776000000 | USD |
| CY2015Q1 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
917000000 | USD |
| CY2014Q2 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
977000000 | USD |
| CY2015Q1 | us-gaap |
Goodwill
Goodwill
|
1067000000 | USD |
| CY2014Q2 | us-gaap |
Goodwill
Goodwill
|
1101000000 | USD |
| CY2015Q1 | clx |
Trademarks Net
TrademarksNet
|
535000000 | USD |
| CY2014Q2 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
174000000 | USD |
| CY2014Q2 | us-gaap |
Long Term Debt Current
LongTermDebtCurrent
|
575000000 | USD |
| CY2015Q1 | us-gaap |
Other Intangible Assets Net
OtherIntangibleAssetsNet
|
52000000 | USD |
| CY2014Q2 | us-gaap |
Other Intangible Assets Net
OtherIntangibleAssetsNet
|
64000000 | USD |
| CY2015Q1 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
162000000 | USD |
| CY2015Q1 | us-gaap |
Assets
Assets
|
4228000000 | USD |
| CY2014Q2 | us-gaap |
Assets
Assets
|
4258000000 | USD |
| CY2015Q1 | us-gaap |
Commercial Paper
CommercialPaper
|
70000000 | USD |
| CY2014Q2 | us-gaap |
Commercial Paper
CommercialPaper
|
143000000 | USD |
| CY2015Q1 | us-gaap |
Long Term Debt Current
LongTermDebtCurrent
|
300000000 | USD |
| CY2015Q1 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
397000000 | USD |
| CY2014Q2 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
440000000 | USD |
| CY2015Q1 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
533000000 | USD |
| CY2014Q2 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
472000000 | USD |
| CY2014Q2 | us-gaap |
Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
|
8000000 | USD |
| CY2015Q1 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
1300000000 | USD |
| CY2014Q2 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
1638000000 | USD |
| CY2015Q1 | us-gaap |
Long Term Debt Noncurrent
LongTermDebtNoncurrent
|
1796000000 | USD |
| CY2014Q2 | us-gaap |
Long Term Debt Noncurrent
LongTermDebtNoncurrent
|
1595000000 | USD |
| CY2015Q1 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
733000000 | USD |
| CY2015Q1 | us-gaap |
Deferred Tax Liabilities Noncurrent
DeferredTaxLiabilitiesNoncurrent
|
97000000 | USD |
| CY2014Q2 | us-gaap |
Deferred Tax Liabilities Noncurrent
DeferredTaxLiabilitiesNoncurrent
|
103000000 | USD |
| CY2015Q1 | us-gaap |
Liabilities
Liabilities
|
3926000000 | USD |
| CY2014Q2 | us-gaap |
Liabilities
Liabilities
|
4104000000 | USD |
| CY2015Q1 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
1.00 | |
| CY2015Q1 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
5000000 | shares |
| CY2015Q1 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
USD | |
| CY2014Q2 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
USD | |
| CY2015Q1 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
1.00 | |
| CY2015Q1 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
750000000 | shares |
| CY2015Q1 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
158741461 | shares |
| CY2014Q2 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
128796228 | shares |
| CY2015Q1 | us-gaap |
Common Stock Value
CommonStockValue
|
159000000 | USD |
| CY2014Q2 | us-gaap |
Common Stock Value
CommonStockValue
|
159000000 | USD |
| CY2015Q1 | us-gaap |
Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
|
762000000 | USD |
| CY2014Q2 | us-gaap |
Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
|
709000000 | USD |
| CY2015Q1 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
1832000000 | USD |
| CY2014Q2 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
1739000000 | USD |
| CY2014Q2 | us-gaap |
Treasury Stock Shares
TreasuryStockShares
|
29945233 | shares |
| CY2015Q1 | us-gaap |
Treasury Stock Value
TreasuryStockValue
|
1970000000 | USD |
| CY2014Q2 | us-gaap |
Treasury Stock Value
TreasuryStockValue
|
2036000000 | USD |
| CY2015Q1 | us-gaap |
Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
-481000000 | USD |
| CY2014Q2 | us-gaap |
Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
-417000000 | USD |
| CY2015Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
302000000 | USD |
| CY2014Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
154000000 | USD |
| CY2015Q1 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
4228000000 | USD |
| CY2014Q2 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
4258000000 | USD |
| CY2014Q2 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
5000000 | shares |
| CY2014Q2 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
1.00 | |
| CY2015Q1 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
| CY2014Q2 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
| CY2015Q1 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
| CY2014Q2 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
158741461 | shares |
| us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
37000000 | USD | |
| us-gaap |
Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
|
-10000000 | USD | |
| us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
481000000 | USD | |
| us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
444000000 | USD | |
| us-gaap |
Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
|
14000000 | USD | |
| us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
495000000 | USD | |
| CY2014Q2 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
750000000 | shares |
| CY2015Q1 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
0 | USD |
| CY2014Q2 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
0 | USD |
| us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
126000000 | USD | |
| us-gaap |
Share Based Compensation
ShareBasedCompensation
|
21000000 | USD | |
| us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
-6000000 | USD | |
| us-gaap |
Other Noncash Income Expense
OtherNoncashIncomeExpense
|
6000000 | USD | |
| us-gaap |
Increase Decrease In Receivables
IncreaseDecreaseInReceivables
|
-3000000 | USD | |
| us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
77000000 | USD | |
| us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
-1000000 | USD | |
| us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
430000000 | USD | |
| us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
83000000 | USD | |
| us-gaap |
Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
|
-3000000 | USD | |
| us-gaap |
Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
|
1000000 | USD | |
| us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-80000000 | USD | |
| us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-89000000 | USD | |
| us-gaap |
Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
|
-73000000 | USD | |
| us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
144000000 | USD | |
| us-gaap |
Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
|
288000000 | USD | |
| us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
236000000 | USD | |
| us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-348000000 | USD | |
| us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-267000000 | USD | |
| us-gaap |
Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
|
-18000000 | USD | |
| us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
49000000 | USD | |
| us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
65000000 | USD | |
| CY2014Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
364000000 | USD |
| us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
131000000 | USD | |
| us-gaap |
Share Based Compensation
ShareBasedCompensation
|
29000000 | USD | |
| us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
5000000 | USD | |
| clx |
Interest Rate Forward Contracts Settlement
InterestRateForwardContractsSettlement
|
25000000 | USD | |
| us-gaap |
Other Noncash Income Expense
OtherNoncashIncomeExpense
|
5000000 | USD | |
| us-gaap |
Increase Decrease In Receivables
IncreaseDecreaseInReceivables
|
-22000000 | USD | |
| us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
59000000 | USD | |
| us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
4000000 | USD | |
| us-gaap |
Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
|
-14000000 | USD | |
| us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
87000000 | USD | |
| us-gaap |
Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
|
191000000 | USD | |
| us-gaap |
Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
|
496000000 | USD | |
| us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
260000000 | USD | |
| us-gaap |
Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
|
277000000 | USD | |
| us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
79000000 | USD | |
| CY2013Q2 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
299000000 | USD |
| clx |
Interest Rate Forward Contracts Settlement
InterestRateForwardContractsSettlement
|
0 | USD | |
| us-gaap |
Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
|
-9000000 | USD | |
| dei |
Document Period End Date
DocumentPeriodEndDate
|
2015-03-31 | ||
| dei |
Entity Registrant Name
EntityRegistrantName
|
CLOROX CO /DE/ | ||
| dei |
Entity Central Index Key
EntityCentralIndexKey
|
0000021076 | ||
| dei |
Document Type
DocumentType
|
10-Q | ||
| CY2015Q1 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
131013553 | shares |
| dei |
Entity Filer Category
EntityFilerCategory
|
Large Accelerated Filer | ||
| CY2015Q2 | dei |
Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
|
131178212 | shares |
| dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2015 | ||
| dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q3 | ||
| CY2014Q2 | us-gaap |
Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
|
58000000 | USD |
| us-gaap |
Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
|
-2000000 | USD | |
| CY2015Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
0 | shares |
| CY2014Q1 | us-gaap |
Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
|
2000000 | USD |
| us-gaap |
Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
|
3000000 | USD | |
| CY2014Q2 | us-gaap |
Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
|
14000000 | USD |
| clx |
Site Contingency Agreed Percentage Of Cost Sharing
SiteContingencyAgreedPercentageOfCostSharing
|
0.243 | pure | |
| CY2015Q1 | us-gaap |
Loss Contingency Range Of Possible Loss Minimum
LossContingencyRangeOfPossibleLossMinimum
|
0 | USD |
| CY2015Q1 | us-gaap |
Liabilities Other Than Longterm Debt Noncurrent
LiabilitiesOtherThanLongtermDebtNoncurrent
|
119000000 | USD |
| us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
300000 | shares | |
| clx |
Remediation Period
RemediationPeriod
|
P30Y | ||
| CY2015Q1 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
1824000000 | USD |
| CY2015Q1 | us-gaap |
Treasury Stock Shares
TreasuryStockShares
|
27727908 | shares |
| CY2015Q1 | us-gaap |
Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
|
0 | USD |
| CY2015Q1 | clx |
Venture Agreement Net Terminal Obligation
VentureAgreementNetTerminalObligation
|
293000000 | USD |
| CY2015Q1 | clx |
Employee Benefit Obligations Noncurrent
EmployeeBenefitObligationsNoncurrent
|
281000000 | USD |
| CY2015Q1 | us-gaap |
Liability For Uncertain Tax Positions Noncurrent
LiabilityForUncertainTaxPositionsNoncurrent
|
40000000 | USD |
| CY2015Q1 | us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
2282000 | shares |
| us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
2524000 | shares | |
| CY2015Q1 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.334 | pure |
| us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.340 | pure | |
| CY2015Q1 | us-gaap |
Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
|
28000000 | USD |
| CY2015Q1 | us-gaap |
Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
|
30000000 | USD |
| CY2015Q1 | us-gaap |
Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
|
9000000 | USD |
| CY2015Q1 | us-gaap |
Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
|
-2000000 | USD |
| CY2015Q1 | us-gaap |
Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
|
12000000 | USD |
| CY2015Q1 | clx |
Current Value Of Judgment
CurrentValueOfJudgment
|
29000000 | USD |
| CY2015Q1 | us-gaap |
Loss Contingency Range Of Possible Loss Maximum
LossContingencyRangeOfPossibleLossMaximum
|
24000000 | USD |
| CY2015Q1 | clx |
Letter Of Credit Borrowing Capacity
LetterOfCreditBorrowingCapacity
|
11000000 | USD |
| CY2015Q1 | us-gaap |
Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
|
0 | USD |
| clx |
Other Income Expense Net
OtherIncomeExpenseNet
|
0 | USD | |
| CY2014Q4 | clx |
Interest Rate Forward Contracts Settlement
InterestRateForwardContractsSettlement
|
25000000 | USD |
| CY2014Q2 | us-gaap |
Derivative Liabilities Current
DerivativeLiabilitiesCurrent
|
17000000 | USD |
| CY2014Q2 | clx |
Derivative Instruments Subject To Contractually Defined Counterparty Liability Position Limits
DerivativeInstrumentsSubjectToContractuallyDefinedCounterpartyLiabilityPositionLimits
|
11000000 | USD |
| CY2014Q2 | us-gaap |
Debt Instrument Fair Value
DebtInstrumentFairValue
|
2265000000 | USD |
| CY2015Q1 | us-gaap |
Debt Instrument Fair Value
DebtInstrumentFairValue
|
2190000000 | USD |
| us-gaap |
Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net
DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionNet
|
-6000000 | USD | |
| CY2014Q1 | us-gaap |
Derivative Instruments Gain Loss Recognized In Other Comprehensive Income Effective Portion Net
DerivativeInstrumentsGainLossRecognizedInOtherComprehensiveIncomeEffectivePortionNet
|
-6000000 | USD |
| CY2015Q1 | us-gaap |
Derivative Instruments Gain Loss Recognized In Other Comprehensive Income Effective Portion Net
DerivativeInstrumentsGainLossRecognizedInOtherComprehensiveIncomeEffectivePortionNet
|
2000000 | USD |
| CY2015Q1 | us-gaap |
Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net
DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionNet
|
-3000000 | USD |
| us-gaap |
Derivative Instruments Gain Loss Recognized In Other Comprehensive Income Effective Portion Net
DerivativeInstrumentsGainLossRecognizedInOtherComprehensiveIncomeEffectivePortionNet
|
-21000000 | USD | |
| us-gaap |
Trading Securities Unrealized Holding Gain Loss
TradingSecuritiesUnrealizedHoldingGainLoss
|
6000000 | USD | |
| us-gaap |
Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months
CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths
|
10000000 | USD | |
| CY2015Q1 | us-gaap |
Derivative Liabilities Current
DerivativeLiabilitiesCurrent
|
14000000 | USD |
| CY2015Q1 | clx |
Derivative Instruments Subject To Contractually Defined Counterparty Liability Position Limits
DerivativeInstrumentsSubjectToContractuallyDefinedCounterpartyLiabilityPositionLimits
|
6000000 | USD |
| us-gaap |
Derivative Instruments Gain Loss Recognized In Other Comprehensive Income Effective Portion Net
DerivativeInstrumentsGainLossRecognizedInOtherComprehensiveIncomeEffectivePortionNet
|
-4000000 | USD | |
| CY2014Q1 | us-gaap |
Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net
DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionNet
|
0 | USD |
| us-gaap |
Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net
DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionNet
|
0 | USD | |
| us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
-80000000 | USD | |
| us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
-88000000 | USD | |
| us-gaap |
Cash Provided By Used In Investing Activities Discontinued Operations
CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations
|
-1000000 | USD | |
| us-gaap |
Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
|
575000000 | USD | |
| us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
-348000000 | USD | |
| us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
-267000000 | USD | |
| CY2015Q1 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
370000000 | USD |
| CY2015Q1 | us-gaap |
Inventory Raw Materials
InventoryRawMaterials
|
103000000 | USD |
| CY2015Q1 | us-gaap |
Inventory Work In Process
InventoryWorkInProcess
|
2000000 | USD |
| CY2015Q1 | us-gaap |
Inventory Lifo Reserve
InventoryLIFOReserve
|
35000000 | USD |
| us-gaap |
Cash Provided By Used In Financing Activities Discontinued Operations
CashProvidedByUsedInFinancingActivitiesDiscontinuedOperations
|
0 | USD | |
| us-gaap |
Cash Provided By Used In Financing Activities Discontinued Operations
CashProvidedByUsedInFinancingActivitiesDiscontinuedOperations
|
0 | USD | |
| us-gaap |
Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
|
0 | USD | |
| us-gaap |
Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
|
0 | USD | |
| us-gaap |
Cash Provided By Used In Investing Activities Discontinued Operations
CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations
|
0 | USD | |
| us-gaap |
Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
|
30000000 | USD | |
| CY2015Q1 | us-gaap |
Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
|
-1000000 | USD |
| CY2014Q1 | us-gaap |
Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
|
-1000000 | USD |
| us-gaap |
Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
|
-4000000 | USD | |
| us-gaap |
Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
|
2000000 | USD | |
| CY2015Q1 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
-28000000 | USD |
| CY2014Q1 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
-31000000 | USD |
| us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
-64000000 | USD | |
| us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
-51000000 | USD | |
| CY2015Q1 | us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Before Reclassification And Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax
|
-33000000 | USD |
| CY2014Q1 | us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Before Reclassification And Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax
|
-22000000 | USD |
| us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Before Reclassification And Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax
|
-88000000 | USD | |
| us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Before Reclassification And Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax
|
-37000000 | USD | |
| us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Reclassification Adjustment From Aoci Realized Upon Sale Or Liquidation Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationReclassificationAdjustmentFromAOCIRealizedUponSaleOrLiquidationBeforeTax
|
-30000000 | USD | |
| CY2015Q1 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
|
-1000000 | USD |
| CY2014Q1 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
|
6000000 | USD |
| us-gaap |
Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
|
-7000000 | USD | |
| us-gaap |
Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
|
10000000 | USD | |
| CY2015Q1 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
-32000000 | USD |
| CY2014Q1 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
-28000000 | USD |
| us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
-51000000 | USD | |
| us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
-47000000 | USD | |
| CY2015Q1 | us-gaap |
Other Comprehensive Income Derivatives Qualifying As Hedges Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent
|
3000000 | USD |
| us-gaap |
Other Comprehensive Income Derivatives Qualifying As Hedges Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent
|
-2000000 | USD | |
| us-gaap |
Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Reclassification Adjustments And Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeReclassificationAdjustmentsAndTax
|
8000000 | USD | |
| CY2014Q1 | us-gaap |
Other Comprehensive Income Derivatives Qualifying As Hedges Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent
|
-4000000 | USD |
| CY2015Q1 | us-gaap |
Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansBeforeTax
|
2000000 | USD |
| us-gaap |
Other Comprehensive Income Derivatives Qualifying As Hedges Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent
|
-17000000 | USD | |
| CY2014Q1 | us-gaap |
Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesBeforeTax
|
0 | USD |
| us-gaap |
Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesBeforeTax
|
0 | USD | |
| CY2015Q1 | us-gaap |
Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax
|
2000000 | USD |
| CY2014Q1 | us-gaap |
Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax
|
-6000000 | USD |
| us-gaap |
Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax
|
-21000000 | USD | |
| us-gaap |
Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax
|
-4000000 | USD | |
| CY2015Q1 | us-gaap |
Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesBeforeTax
|
-3000000 | USD |
| us-gaap |
Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesBeforeTax
|
-6000000 | USD | |
| CY2015Q1 | us-gaap |
Other Comprehensive Income Loss Derivatives Qualifying As Hedges Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesTax
|
2000000 | USD |
| CY2014Q1 | us-gaap |
Other Comprehensive Income Loss Derivatives Qualifying As Hedges Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesTax
|
-2000000 | USD |
| us-gaap |
Other Comprehensive Income Loss Derivatives Qualifying As Hedges Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesTax
|
2000000 | USD | |
| us-gaap |
Other Comprehensive Income Loss Derivatives Qualifying As Hedges Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesTax
|
-2000000 | USD | |
| CY2014Q1 | us-gaap |
Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansBeforeTax
|
2000000 | USD |
| us-gaap |
Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansBeforeTax
|
7000000 | USD | |
| us-gaap |
Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansBeforeTax
|
5000000 | USD | |
| CY2015Q1 | us-gaap |
Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
|
-1000000 | USD |
| CY2014Q1 | us-gaap |
Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
|
-1000000 | USD |
| us-gaap |
Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
|
-1000000 | USD | |
| us-gaap |
Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
|
1000000 | USD | |
| CY2014Q1 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Reclassification Adjustment From Aoci Realized Upon Sale Or Liquidation Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationReclassificationAdjustmentFromAOCIRealizedUponSaleOrLiquidationBeforeTax
|
0 | USD |
| us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Reclassification Adjustment From Aoci Realized Upon Sale Or Liquidation Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationReclassificationAdjustmentFromAOCIRealizedUponSaleOrLiquidationBeforeTax
|
0 | USD | |
| CY2015Q1 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Reclassification Adjustment From Aoci Realized Upon Sale Or Liquidation Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationReclassificationAdjustmentFromAOCIRealizedUponSaleOrLiquidationBeforeTax
|
0 | USD |
| CY2014Q1 | us-gaap |
Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Reclassification Adjustments And Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeReclassificationAdjustmentsAndTax
|
0 | USD |
| CY2015Q1 | us-gaap |
Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Reclassification Adjustments And Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeReclassificationAdjustmentsAndTax
|
0 | USD |
| us-gaap |
Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Reclassification Adjustments And Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeReclassificationAdjustmentsAndTax
|
2000000 | USD |
