Statement of Comprehensive Income

Comprehensive income is the change in equity (net assets) of a business enterprise during a period from transactions and other events and circumstances from non-owners sources. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners.

Procter & Gamble Co., consolidated statement of comprehensive income

US$ in millions

12 months ended:	Jun 30, 2026	Jun 30, 2025	Jun 30, 2024	Jun 30, 2023	Jun 30, 2022	Jun 30, 2021
Net earnings	16,144)	16,065)	14,974)	14,738)	14,793)	14,352)
Foreign currency translation, net of tax	96)	1,143)	(226)	(71)	(1,450)	1,023)
Unrealized gains (losses) on investment securities, net of tax	1)	—)	(3)	(7)	5)	16)
Unrealized gains (losses) on defined benefit postretirement plans, net of tax	(440)	(1,391)	546)	40)	2,992)	1,386)
Other comprehensive income (loss), net of tax	(343)	(248)	317)	(38)	1,547)	2,425)
Comprehensive income	15,801)	15,817)	15,291)	14,700)	16,340)	16,777)
Comprehensive income attributable to noncontrolling interests	(77)	(87)	(92)	(78)	(43)	(50)
Comprehensive income attributable to Procter & Gamble	15,724)	15,730)	15,199)	14,622)	16,297)	16,727)

Based on: 10-K (reporting date: 2026-06-30), 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).

Net earnings demonstrate a consistent upward trajectory over the analyzed period, increasing from 14,352 million USD in 2021 to 16,144 million USD by 2026. This growth reflects a stable core profitability trend, with a notable acceleration in earnings between 2024 and 2025. However, the total comprehensive income does not mirror this linear growth, as it is subject to significant volatility stemming from other comprehensive income components.

Core Earnings Performance: Net earnings grew by approximately 12.5% from 2021 to 2026. The most significant year-over-year increase occurred between 2024 and 2025, where earnings rose from 14,974 million USD to 16,065 million USD, indicating a period of strengthened operational performance or favorable fiscal adjustments.
Volatility in Other Comprehensive Income (OCI): OCI exhibits substantial fluctuations, shifting from a peak of 2,425 million USD in 2021 to a deficit of 343 million USD by 2026. This volatility is primarily driven by two factors: foreign currency translation and adjustments to defined benefit postretirement plans.
Foreign Currency Translation Effects: Currency translation impacts show a highly unstable pattern, with a significant loss of 1,450 million USD in 2022 and a substantial recovery to a gain of 1,143 million USD in 2025. These swings suggest a high sensitivity to exchange rate fluctuations across global operations.
Defined Benefit Postretirement Plan Adjustments: Unrealized gains on postretirement plans were strongly positive in 2021 and 2022, peaking at 2,992 million USD. However, a sharp reversal occurred in 2025 and 2026, resulting in losses of 1,391 million USD and 440 million USD respectively, which exerted downward pressure on comprehensive income in the latter part of the period.
Comprehensive Income Attribution: Comprehensive income attributable to Procter & Gamble closely tracks the total comprehensive income, with noncontrolling interests having a negligible impact. While total comprehensive income peaked in 2021 at 16,777 million USD, it stabilized around 15,700 to 15,800 million USD in the 2025-2026 window, reflecting the offsetting effect of OCI losses against the growth in net earnings.

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Procter & Gamble Co. (NYSE:PG)

Statement of Comprehensive Income