CLOROX CO /DE/CLX

CLOROX CO /DE/ Debt Disclosure

10-KFiled Aug 8, 20252 min read
DEBT
Short-term borrowings
Notes and loans payable are borrowings that mature in less than one year, primarily consisting of U.S. commercial paper issued by the Company and borrowings under the Company's revolving credit agreements. Notes and loans payable was $4 as of both June 30, 2025 and 2024, respectively.
The weighted average interest rates incurred on average outstanding notes and loans payable during each of the fiscal years ended June 30, 2025, 2024 and 2023, including fees associated with the Company’s revolving credit agreements, were 4.50%, 4.77% and 3.48% respectively.
Long-term borrowings
Long-term debt, carried at face value net of unamortized discounts, premiums and debt issuance costs, included the following as of June 30:
20252024
Senior unsecured notes and debentures:
3.10%, $400 due October 2027
$399 $399 
3.90%, $500 due May 2028
499 498 
4.40%, $500 due May 2029
496 495 
1.80%, $500 due May 2030
496 495 
4.60%, $600 due May 2032
594 594 
Total2,484 2,481 
Less: Current maturities of long-term debt— — 
Long-term debt$2,484 $2,481 
The weighted average interest rates incurred on average outstanding long-term debt during each of the fiscal years ended June 30, 2025, 2024 and 2023, was 3.25%. The weighted average effective interest rates on long-term debt balances as of both June 30, 2025 and 2024 was 3.25%.
Long-term debt maturities as of June 30, 2025, were $0 in fiscal years 2026 through 2027, $900 in fiscal year 2028, $500 in fiscal year 2029, $500 in fiscal year 2030 and $600 thereafter.
Credit arrangements
On March 25, 2025, the Company entered into a new $1,200 revolving credit agreement (the Credit Agreement) that matures in March 2030. The Credit Agreement replaced a prior $1,200 revolving credit agreement (the Prior Credit Agreement) in place since March 2022. The Company did not incur any termination fees or penalties in connection with entering the new agreement, which was considered a debt modification. There were no borrowings under either the Credit Agreement or the Prior Credit Agreement as of June 30, 2025 and 2024, respectively, and the Company believes that borrowings under the Credit Agreement will continue to be available for general corporate purposes. The Credit Agreement includes certain restrictive covenants and limitations consistent with the previous agreement, with which the Company was in compliance as of both June 30, 2025 and 2024.
The Company’s borrowing capacity under the revolving credit agreements and other financing arrangements as of June 30 was as follows:
20252024
Revolving credit facility$1,200 $1,200 
Foreign and other credit lines34 34 
Total$1,234 $1,234 
Of the $34 of foreign and other credit lines as of June 30, 2025, $7 was outstanding and the remainder of $27 was available for borrowing. Of the $34 of foreign and other credit lines as of June 30, 2024, $9 was outstanding and the remainder of $25 was available for borrowing.

Historical Timeline

Fiscal YearFiled
2025Aug 8, 2025Showing above
2024Aug 8, 2024
2023Aug 10, 2023
2022Aug 10, 2022
2021Aug 10, 2021
2020Aug 13, 2020
2019Aug 14, 2019
2018Aug 14, 2018
2017Aug 15, 2017
2016Aug 16, 2016

About Debt Disclosures

Debt disclosures detail a company's borrowing structure — the types of instruments, interest rates, maturity schedule, and covenant restrictions that define its financial obligations and flexibility. This section is essential for assessing refinancing risk, interest rate exposure, and the margin of safety against financial distress.

Key signals: the maturity schedule reveals concentration risk — large maturities within 1-2 years during tight credit markets can force dilutive refinancing or asset sales. Compare the fair value of debt against carrying amount to gauge whether the market views the company's credit risk differently than the balance sheet suggests. Watch covenant compliance disclosures for tightening cushions, especially leverage and interest coverage ratios. Variable-rate debt exposure quantifies sensitivity to interest rate changes. Secured versus unsecured mix affects recovery rates and future borrowing capacity. Compare net debt-to-EBITDA against industry peers and covenant limits to assess financial health.

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