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Ini 579 325 The official SEC filing of the annual report is called a Form 10-K, which often omits the public relations pieces found in most standard annual reports. On the following pages, we present The Procter & Gamble Company (P&Gy's financial statements taken from the company's 2017 Form 10-K. Consolidated Statements of Earnings Amounts in millions except per share amounts; Years ended June 30 2017 2016 2015 NET SALES $ 65,058 $ 65,299 $ 70,749 Cost of products sold 32,535 32,909 37,056 Selling general and administrative expense 18,568 18,949 20,616 Venezuela deconsolidation charge 2,028 OPERATING INCOME 13.955 13.441 11,049 Interest expense 465 626 Interest income 171 182 149 Other non-operating income/expense), net (404) 440 BARNINGS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 13,257 13,369 11,019 Income taxes on continuing operations 3,063 3.342 2.725 NET EARNINGS FROM CONTINUING OPERATIONS 10.194 10,097 8,287 NET EARNINGS/CLOSS) FROM DISCONTINUED OPERATIONS 5,217 SZZ (1.143) NET EARNINGS 15.411 10,604 7.144 Less: Net earnings attributable to noncontrolling interests 85 96 108 NET EARNINGS ATTRIBUTABLE TO PROCTER & GAMBLE $ 15.326 $ 10 508 $ 77,096 BASIC NET EARNINGS PER COMMON SHARE: Earnings from continuing operations 3.79 $ 3-59 $ 2.92 Earnings/Closs) from discontinued operations (0.42) BASIC NET EARNINGS PER COMMON SHARE 5.80 $ 3.80 $ 2.50 DILUTED NET EARNINGS PER COMMON SHARE:) Earnings from continuing operations $ 3.69 $ 3:49 $ 2.84 Earnings/loss) from discontinued operations 1.90 (0.40) DILUTED NET EARNINGS PER COMMON SHARE 5-59 $ 3.69 2.44 DIVIDENDS PER COMMON SHARE 2.66 2.59 Basic net earnings per common share and Diluted net earnings per common share are calculated on Net earnings attributable to Procter & Gamble. 8 2.01 0.21 S 0.20 $ $ 2.70 $ $ Inl 2017 2016 2015 $ 15,411 $ 10,604 $ 7.144 Consolidated Statements of Comprehensive Income Amounts in millions; Years ended June 30 NET EARNINGS OTHER COMPREHENSIVE INCOME/GLOSS), NET OF TAX Financial statement translation Unrealized gains/Closses) on hedges (net of S(186), $5 and $739 tax, respectively) Unrealized gains/Closses) on investment securities (net of $(6), $7 and $o tax, respectively) Unrealized gains/(losses) on defined benefit retirement plans (net of $55, $(621) and $328 tax, respectively) TOTAL OTHER COMPREHENSIVE INCOME/(LOSS), NET OF TAX TOTAL COMPREHENSIVE INCOME Less: Total comprehensive income attributable to noncontrolling interests TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO PROCTER & GAMBLE 239 (1,679) (7,220) (306) 1 1,234 (59) 28 24 1,401 (1.47) 844 1,275 (3.127) (5.118) 16,686 2,026 85 96 108 $ 16,601 $ 77381 $ 1.918 2017 2016 $ 5.569 9,568 4.594 7,102 6,246 4.373 Consolidated Balance Sheets Amounts in millions; As of June 30 Assets CURRENT ASSETS Cash and cash equivalents Available-for-sale investment securities Accounts receivable INVENTORIES Materials and supplies Work in process Finished goods Total inventoreis Deferred income taxes Prepaid expenses and other current assets Current assets held for sale TOTAL CURRENT ASSETS PROPERTY, PLANT AND EQUIPMENT, NET GOODWILL TRADEMARKS AND OTHER INTANGIBLE ASSETS, NET 1,308 529 2,787 4,624 2,139 1,188 563 2.965 4.716 1,507 2,653 7,185 33.782 19,385 44.350 24.527 26,494 19,893 44,699 24,187 GOODWILL TRADEMARKS AND OTHER INTANGIBLE ASSETS, NET OTHER NONCURRENT ASSETS TOTAL ASSETS 44,699 24,187 5,133 $ 120,406 44,350 24.527 5,092 $ 127,136 9,632 $ 7,024 13,554 30,210 18,038 8,126 8,254 64.628 9.325 7.449 2,343 11,653 30.770 18,945 9,113 10.325 69,153 Liabilities and Shareholders' Equity CURRENT LIABILITIES Accounts payable Accrued and other liabilities Current liabilities held for sale Debt due within one year TOTAL CURRENT LIABILITIES LONG-TERM DEBT DEFERRED INCOME TAXES OTHER NONCURRENT LIABILITIES TOTAL LIABILITIES SHAREHOLDERS' EQUITY Convertible Class A preferred stock, stated value $1 per share (600 shares authorized) Non-Voting Class B preferred stock, stated value $1 per share (200 shares authorised) Common stock, stated value $1 per share (10,000 shares authorized; shares issued: 2017- 4,009.3, 2016 -4,009.a) Additional paid-in capital Reserve for ESOP debt retirement Accumulated other comprehensive income/(loss) Treasury stock, at cost (shares held: 2017 - 1,455.9, 2016 - 1,341.4) Retained earnings Noncontrolling interest TOTAL SHAREHOLDERS' EQUITY TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY See accompanying Notes to Consolidated Financial Statements. 1,006 1,038 4,009 63,641 (1,249) (14,632) (93.715) 96,124 594 55.778 $ 120.406 4,009 63.714 (1,290) (15.907) (82,176) 87,953 642 57.983 $ 127,136 Ini Consolidated Statements of Shareholders' Equity Dollars in Accumulated Reserve Other millions: Common Total Additional for Shares Comprehensive Shares in Common Preferred Paid In ESOP Debt Non- Share Income/ Outstanding Stock thousands Treasury Retained controlling holders' Stock Capital Retirement (Loss) Stock Earnings Interest Equity BALANCE 2,710,806 $4,009 $1,111 $63.911 JUNE 30, 2014 ($1.340) ($7,662) ($75,805) $84.990 $762 $69,976 Net earnings 7.036 108 7,144 Other comprehensive (5.118) (5.118) loss Dividends to shareholders: Common (7,028) (7,028) Preferred, net of (259) (259) tax benefits Treasury (54,670) (4,604) (4,604) purchases Employee plan 54.100 156 3,309 issuances Preferred stock 4.335 (34) 4 30 conversions ESOP debt 20 88 impacts Noncontrolling (219) (39) (468) Interest, net BALANCE 2.214.6771 $4,009 $1,07 $63.852 ($1.320) ($12.780) ($7/226) $84,807 $631 $63,050 JUNE 30, 2015 10.508 96 Net earnings 10,604 Other (3.127) (3,127) comprehensive loss Dividends to shareholders: (7.181) (7,181) Common Preferred, net of (255) (255) tax benefits 3.153 68