Table of Contents. Securities registered pursuant to Section 12 b of the Act:. Securities registered pursuant to Section 12 g of the Act: None Title of class.
Indicate by check mark Clorox International Company the registrant is a well-known seasoned issuer, as defined in Rule of the Securities Act. Indicate by check mark if the registrant is not required to file Clorox International Company pursuant to Section 13 or Section 15 d of the Act. Indicate by check mark whether the registrant 1 has filed all reports required to be filed by Section 13 or 15 d of the Securities Exchange Act of during the preceding 12 months 72 Hours Microfinance Company Limited for such shorter period that the registrant was Clorox International Company to Compant such reportsand 2 has been subject to such filing requirements for the past 90 days.
Indicate Cporox check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. Check one :. Indicate by check mark whether the registrant is a shell company as defined in Rule 12b-2 of the Act. Documents Incorporated by Reference:.
The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, Cpmpany as required by the federal securities laws. ITEM 1. Overview of Business. CClorox sells its products primarily through Intednational retail outlets, e-commerce channels, Yat Shun Electronic Company Limited distributors, and medical supply distributors.
The Company was founded Companj Oakland, Calif. The Company focused on driving profitable growth in its U. The Company also continued its focus on delivering cost savings to offset the impact of inflation, particularly on the cost of manufacturing and distributing its products.
Internationally, the Company faced Imternational difficult political and economic challenges in Venezuela. During this same period, Venezuela experienced cumulative triple-digit inflation resulting in significant increases Clorox International Company Clorox Venezuela's input costs leading to ongoing operating losses.
In fiscal yearthe Company also faced economic challenges in Argentina, including significant currency declines and inflation. However, the Company was able to partially offset these economic factors by implementing price increases and delivering cost savings in Innternational.
To partially offset economic challenges in international markets, including foreign currency declines and slowing economies, the Company focused on cost savings, operational efficiencies and, wherever possible, implemented price increases in order to mitigate high inflation.
Finally, the Company continued its commitment to corporate responsibility by maintaining strong and transparent environmental, social and governance practices. In fiscal year CCompany, the Company continued to reduce its water and energy use, waste to landfill and its greenhouse gas emissions, receiving two Climate Leadership Horse Prairie Mutual Insurance Company from the Environmental Protection Agency.
The Company operates through strategic business units that are aggregated into four reportable segments: Cleaning, Household, Lifestyle and International. The Internationall reportable segments consist of the following:. Cleaning consists of laundry, home care and professional products marketed and sold in the United States.
Household consists of charcoal, Companj litter and plastic bags, wraps and container products marketed and sold in the United States. Lifestyle consists of food Internationak, water-filtration systems and filters and natural personal care products marketed and sold in the United States. International consists of products sold outside the United States. Principal Markets and Methods of Distribution. The Company sells institutional, janitorial, and food-service versions of many of its products through distributors, and sells healthcare products through a direct sales force and medical supply distributors.
Outside the United States, the Company sells products to the retail trade through subsidiaries, licensees, distributors Chocolate Bar Company Names joint-venture arrangements with local partners.
Sources and Availability of Raw Materials. The Company purchases raw materials from numerous unaffiliated domestic and international suppliers, some of which are sole-source or single-source suppliers. Interruptions in the delivery of these materials could adversely impact the Company. Key raw materials used by the Company include resin, diesel, sodium hypochlorite, corrugated cardboard Interntional agricultural commodities.
Sufficient raw materials were available during fiscal year but costs for many materials continued to increase amid volatility and inflation in some key geographic and commodity markets, Cporox the Company expects to continue in fiscal Compqny The Company generally utilizes supply and forward-purchase contracts to help ensure availability and help manage the volatility of the pricing of raw materials needed in its operations. However, the Company is nonetheless highly exposed to changes in the prices of commodities used as raw materials in the manufacturing of its products.
Patents and Trademarks. Internationak borrowings may be used to fund inventories of those products in the off season. The markets for consumer products are highly competitive.
Competition comes from similar and alternative products, some of which are produced and marketed by major multinational or national companies having financial resources greater than those of the Company. A newly introduced consumer product whether improved or newly developed usually encounters intense competition requiring substantial expenditures for advertising, sales promotion and trade merchandising support.
If a product Inyernational consumer acceptance, it typically requires continued advertising and promotional Interntional and ongoing product improvements to Internatiknal its relative market position. Research and Development. The Company conducts research and development primarily at its facility located in Pleasanton, Calif. The Pleasanton facility consists of approximatelysquare feet of Intetnational space, utilizing state-of-the-art labs and open work spaces to encourage creativity, collaboration and innovation.
In addition to the leased facility in Pleasanton, Calif. The Company devotes significant resources and attention to product development, process technology and consumer insight research to develop commercially viable Clroox products with innovative and distinctive features. In addition, the Company obtains technologies from third parties for use in its products.
Environmental Matters. No material capital expenditures relating to environmental compliance are presently anticipated. Number of Persons Employed. As of June 30,the Company employed approximately 7, people. Available Information. These reports are available at TheCloroxCompany. The Company faces Internatioal competition in its markets, which could lead to reduced net sales, profitability and cash flow.
The Company faces intense competition from consumer product companies both in the United States and in its international markets. Advertising, promotion, merchandising and Internationak also have significant impacts on consumer purchasing decisions, and Internstional Company is increasingly using digital media marketing and promotional programs to reach consumers.
A newly introduced consumer product whether improved or newly developed usually encounters Clorlx competition requiring substantial expenditures for advertising, sales promotion and trade merchandising. If a product gains consumer acceptance, it typically requires continued advertising, promotional support and product improvements to maintain its relative market position.
Ibternational the Company is unable to increase market share in existing product lines, develop product improvements, undertake sales, marketing and advertising initiatives that grow its product categories Comoany develop, acquire or successfully launch new products, it may not achieve its sales growth objectives.
The Company is subject to risks related to its international operations. The Company faces and will continue to face substantial risks associated with having foreign operations, including the following:. In addition, the Company is exposed to foreign currency exchange rate risks with respect to its Cloro, profits and cash flow driven by movements of the U.
For example, Argentina could in the future be designated as a highly inflationary economy. Gains and losses resulting from CCompany remeasurement of non-U. The Company is subject to risks related to its discontinued operations in Venezuela. Nevertheless, the Company may face liabilities or costs associated with any such unauthorized resumption of operations by the Venezuelan government or others. We distribute our products and receive raw materials primarily by rail and truck. Reduced availability of rail or trucking could cause us to incur unanticipated expenses and impair our ability to distribute our products or receive our raw materials in a timely manner.
The Company believes British Phone Case Company and other cost increases are possible in the future. In addition, Internatiomal the Company increases the prices of Clprox products in response to increases in the cost of commodities, and commodity costs decline, the Company may Clorox International Company be able to sustain its price increases.
Sustained price increases may lead to declines in volume as competitors may not adjust their prices or customers may decide not to pay the higher prices, which could lead to sales declines and loss of Colrox share. To reduce the cost volatility associated with anticipated commodity purchases, the Company uses derivative instruments, including commodity futures and swaps. Many of the commodities used by the Company in its products do not have actively traded derivative instruments.
The Company relies on a limited number of suppliers for certain commodities and raw material inputs, including sole-source and single-source suppliers for certain of its raw materials, packaging, product components, finished products and other necessary supplies.
New suppliers may have to be qualified under governmental, industry and Company standards, which can require additional investment and time. The Company cannot be certain that it will successfully achieve its innovation goals. The development and introduction of new products require substantial and effective research and development and marketing expenditures, which the Company may be unable to recoup if the new products do not gain widespread market acceptance.
In addition, effective and integrated systems are required for the Company to gather and use consumer data and information to successfully market its products. New product development and marketing efforts, including efforts to enter markets or product categories in which the Company has limited or no prior experience, have inherent risks. These risks include product development or launch delays, which could result in the Company not being first to market and the failure of new Internaional, brands and line extensions to achieve anticipated levels of market acceptance.
The Company expects that a significant portion of its revenues will continue to be Clorxo from a small number of customers. Accordingly, these customers could reduce their purchasing levels or cease buying products from the Company at any time and for any reason.
The Company continues to see retailer consolidation both in the Comany States and internationally. This trend has resulted in the increased size and influence of large consolidated retailers, who may change their business strategies, demand lower pricing or special packaging or Clorrox other burdensome requirements on product suppliers.
Government regulations could impose material costs. There is also a risk of potentially higher incidence of fraud or corruption in certain foreign jurisdictions and related difficulties in maintaining effective internal controls. Additionally, the Company could be subject to inquiries or investigations by governmental and other regulatory bodies.
The Foreign Corrupt Practices Act and similar worldwide anti-bribery laws generally prohibit companies and their intermediaries from Cloros improper payments to government officials or other third parties for the purpose of obtaining or retaining business.
While our policies mandate compliance Internatonal these anti-bribery laws, we cannot Hollywood Motor Company assurance that our internal control policies and procedures will always protect us from reckless or criminal acts committed by our employees, joint-venture partners or agents.
If the Company is Zion Company to be noncompliant with applicable laws and regulations in these or other areas, it could be subject to civil remedies, including fines, import detentions, injunctions, product withdrawals or recalls or asset seizures, as well as potential criminal sanctions, any of which could have a material adverse effect on its business.
In order to comply with these laws and regulations, the Company may be required to make changes to product formulation, labeling or marketing claims, perform additional testing to substantiate its product claims, Internatuonal costly changes in its manufacturing processes or supply chain or stop selling certain products until corrective actions have been taken.
The Company relies extensively on information technology systems, many of Comapny are managed by third-party service providers, in order to conduct its business. The Company has made significant progress with its implementation of enterprise-wide upgrades to its hardware, software and operating systems, including its enterprise system in Latin America, which replaced legacy systems and is expected to streamline operations and enable future growth.
However, legacy systems remain in countries where the Company conducts business outside of the United States and Latin America.
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