Stock Analysis on Net
Stock Analysis on Net

Procter & Gamble Co. (NYSE:PG)

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Common-Size Balance Sheet: Liabilities and Stockholders’ Equity

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Procter & Gamble Co., common-size consolidated balance sheet: liabilities and stockholders’ equity

Microsoft Excel
Jun 30, 2025 Jun 30, 2024 Jun 30, 2023 Jun 30, 2022 Jun 30, 2021 Jun 30, 2020
Accounts payable
Accrued marketing and promotion
Accrued compensation
Taxes payable
Derivative liabilities
Accrued interest
Current operating lease liabilities
Restructuring reserves
Other
Accrued and other liabilities
Debt due within one year
Current liabilities
Long-term debt, excluding due within one year
Deferred income taxes
Pension benefit obligations
Uncertain tax positions
Noncurrent operating lease liabilities
Other retiree benefit obligations
Derivative liabilities
2017 U.S. Tax Act transitional tax payable
Other
Other noncurrent liabilities
Noncurrent liabilities
Total liabilities
Convertible Class A preferred stock, stated value $1 per share
Non-Voting Class B preferred stock, stated value $1 per share
Common stock, stated value $1 per share
Additional paid-in capital
Reserve for ESOP debt retirement
Accumulated other comprehensive loss
Treasury stock
Retained earnings
Shareholders’ equity attributable to Procter & Gamble
Noncontrolling interest
Total shareholders’ equity
Total liabilities and shareholders’ equity

Based on: 10-K (reporting date: 2025-06-30), 10-K (reporting date: 2024-06-30), 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-06-30), 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30).

Accounts Payable
The proportion of accounts payable relative to total liabilities and shareholders’ equity demonstrated an overall upward trend from 10% in 2020 to a peak of 12.56% in 2024, followed by a slight decrease to 12.16% in 2025, indicating a generally increasing reliance on supplier credit over the period.
Accrued Marketing and Promotion
This item showed moderate fluctuations, starting at 2.93% in 2020, rising to 3.47% in 2021, then declining toward 3.08% in 2025, suggesting a slight reduction in accrued promotional expenses as a share of the company’s total financial base.
Accrued Compensation
Accrued compensation as a percentage of total liabilities and equity remained relatively stable with minor variations, peaking at 1.8% in 2021 and settling at 1.6% in 2025, which reflects consistent management of employee-related obligations.
Taxes Payable
There was a gradual increase in taxes payable from 0.57% in 2020 to 0.94% in 2025, signaling a rising tax liability or possible changes in tax policies impacting the company.
Derivative Liabilities
Derivative liabilities appeared starting in 2022 and exhibited variability without a clear trend, fluctuating between 0%, 0.52%, and settling at 0.5% in 2025, indicating active but moderate engagement in derivative contracts.
Accrued Interest
Accrued interest was first recorded in 2023 at 0.19%, increasing slightly to 0.23% by 2024 and remaining stable, which may reflect incremental borrowing costs or interest obligations.
Current Operating Lease Liabilities
Current operating lease liabilities exhibited minimal variation around 0.2% throughout the period, showing stable lease-related short-term commitments.
Restructuring Reserves
Restructuring reserves declined from 0.39% in 2020 to 0.13% in 2022 and then stabilized around 0.14-0.15%, reflecting the completion or reduction of restructuring activities.
Other Accrued and Other Liabilities
This category fluctuated moderately, increasing to 9.05% in 2024 and remaining nearly flat in 2025, which could indicate steady operations in other miscellaneous obligations.
Debt Due Within One Year
Short-term debt showed a decreasing trend from 9.27% in 2020 to 5.88% in 2024, followed by a rebound to 7.6% in 2025, suggesting fluctuating short-term financing needs or refinancing activities.
Current Liabilities
Current liabilities as a whole maintained relative consistency, hovering near the high 20% range with a slight peak at 29.59% in 2023, implying predictable short-term obligations in relation to total financing.
Long-Term Debt
Long-term debt remained stable with a slight upward variation, moving from 19.5% in 2020 to a peak of 20.65% in 2024 and a slight decrease thereafter, indicating stable or moderately growing long-term debt commitments.
Deferred Income Taxes
Deferred income taxes stayed fairly consistent around 5%, peaking at 5.81% in 2022 before declining to 4.61% in 2025, signaling shifts in timing differences related to tax accounting.
Pension Benefit Obligations
There was a significant decrease in pension benefit obligations from 5.16% in 2020 to approximately 2.4% in subsequent years, suggesting either pension plan funding, settlement, or revaluation activities reducing this liability.
Uncertain Tax Positions
Uncertain tax positions showed minor volatility, staying in the range of 0.48% to 0.67%, indicating relatively stable estimates of tax uncertainties over the timeline.
Noncurrent Operating Lease Liabilities
The values remained nearly consistent around 0.5%, indicating stable long-term lease commitments.
Other Retiree Benefit Obligations
These obligations experienced a modest decline from 0.8% to about 0.55%, reflecting a gradual reduction in post-retirement benefit liabilities.
2017 U.S. Tax Act Transitional Tax Payable
This liability consistently decreased from 1.76% in 2020 to zero in 2025, reflecting the resolution of transitional tax obligations over time.
Other Noncurrent Liabilities
There was a noticeable downward trend in other noncurrent liabilities from 9.2% in 2020 to 4.89% in 2025, implying a substantial reduction or reclassification of these liabilities.
Total Liabilities
Total liabilities decreased moderately from 61.16% in 2020 to 58.25% in 2025, suggesting a slight reduction in the company’s leverage or obligations relative to its financial structure.
Preferred and Common Stock
Convertible Class A preferred stock showed a gradual decline from 0.74% to 0.62%, while common stock remained relatively stable around 3.2%-3.4%, indicating minimal changes in the equity capital base's stated values.
Additional Paid-In Capital
This component grew steadily from 53.18% in 2020 to a peak of 56.14% in 2022 before marginally declining to 54.91% in 2025, reflecting equity financing activities or stock-based compensation effects.
Reserve for ESOP Debt Retirement
The reserve decreased in negative magnitude from -0.89% in 2020 to -0.54% in 2025, indicating a gradual reduction in this contra-equity account.
Accumulated Other Comprehensive Loss
There was a consistent improvement in accumulated other comprehensive loss, lessening from -13.39% to -9.7%, suggesting reduced accumulated losses or gains being recognized in other comprehensive income.
Treasury Stock
Treasury stock exhibited a growing negative balance, increasing from -87.47% to -110.76%, indicating ongoing share repurchase programs reducing shareholders’ equity.
Retained Earnings
Retained earnings steadily increased from 83.05% in 2020 to 103.79% in 2025, reflecting consistent profitability and earnings retention within the company.
Total Shareholders’ Equity
Total shareholders’ equity showed a positive trend, rising from 38.84% to 41.75%, which signals strengthening equity financing relative to total capital structure despite considerable treasury stock activity.