The Procter \& Gamble Company 37 38 The Procter \& Gamble Company Consolidated Statements of Comprehensive Income Amounts in millions: Years ended June 30 NET EARNINGS OTHER COMPREHENSIVE INCOME/(LOSS), NET OF TAX Foreign currency translation (net of tax of $515,$(266) and $59, respectively) (1,450)1,023 (1,083) Unrealized gains/(losses) on investment securities (net of tax of $1,$5 and $(1), respectively) 5 16 Unrealized gains/(losses) on defined benefit postretirement plans (net of tax of $1,022, \$445 and \$(42), respectively) TOTAL OTHER COMPREHENSIVE INCOME/(LOSS), NET OF TAX TOTAL COMPREHENSIVE INCOME Less: Comprehensive income attributable to noncontrolling interests TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO PROCTER \& GAMBLE The Procter \& Gamble Company 39 Consolidated Balance Sheets Amounts in millions excent stated values: As of June 30 Assets CURRENT ASSETS Cash and cash equivalents Accounts receivable INVENTORIES Materials and supplies Work in process Finished goods Total inventories Prepaid expenses and other current assets TOTAL CURRENT ASSETS PROPERTY, PLANT AND EQUIPMENT, NET GOODWILL TRADEMARKS AND OTHER INTANGIBLE ASSETS, NET OTHER NONCURRENT ASSETS TOTAL ASSETS 20222021 Liabilities and Shareholders' Equity CURRENT LIABILITIES Accounts payable S14,882$13,720 Accrued and other liabilities 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) 9,55410,523 Non-Voting Class B preferred stock, stated value $1 per share (200 shares authorized) Common stock, stated value $1 per share ( 10,000 shares authorized; shares issued: 2022 - 4,009.2, 2021 - 4,009.2) Additional paid-in capital 33,0818,64522,8488,88923,09933,132 Reserve for ESOP debt retirement Accumulated other comprehensive loss \begin{tabular}{rr} 6,809 & 6,153 \\ 7,616 & 10,269 \\ \hline 70,354 \\ \hline \end{tabular} Treasury stock, at cost (shares held: 2022 - 1,615.4, 2021 - 1,579.5) 843 870 Retained earnings Noncontrolling interest TOTAL SHAREHOLDERS' EQUITY TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 40 The Procter \& Gamble Company The Procter \& Gamble Company 41 3.) For the year ending June 30,2022P&G reported how much as the current portion of long term debt? What is their short-term weighted average interest rate? You will need the financial statement footnotes to answer this question. Current portion of long-term debt was Short term weighted average interest rate PROVIDE A REFERENCE HERE AS TO WHERE YOU FOUND THE INFORMATION: 4.) For the year ending June 30, 2022 P\& G reported how much as long-term debt? What is their long-term weighted average interest rate? You will need the financial statement footnotes to answer this question. Long term debt was Long-term weighted average interest rate PROVIDE A REFERENCE HERE AS TO WHERE YOU FOUND THE INFORMATION: 5.) How much was P\&G's loss on early extinguishment of debt? On which page did you find this information? You will need the financial statement footnotes to answer this question. Loss on extinguishment of debt: PROVIDE A REFERENCE HERE AS TO WHERE YOU FOUND THE INFORMATION: 6.) P\&G leases certain property and equipment for varying periods. For the fiscal year June 30,2022 what is the amount of the Right of use Assets capitalized as part of other non-current assets? You will need the financial statement footnotes to answer this question. PROVIDE A REFERENCE HERE AS TO WHERE YOU FOUND THE INFORMATION: 7.) At June 30, 2022, what is the present value of lease liabilities for future payments of operating lease liabilities? This can be found in the current financial statement footnotes. You will need the financial statement footnotes to answer this question. Present value of lease liabilities PROVIDE A REFERENCE HERE AS TO WHERE YOU FOUND THE INFORMATION: 8.) We know from chapter 16 that total income tax expense consists of the total current year taxes payable plus the change in the deferred tax asset or liability (tax expense or benefit). What is the makeup of P\&G's total tax expense for the year ending June 30,2022 ? This information can be found in the financial statement footnotes. You will need the financial statement footnotes to answer this question. HINT: Use the outline below to fill in the amounts. Be sure to tie to the total income tax expense as reported in the financial statement footnotes. Use only ONE of these columns, whichever is applicable. 8.) For the year ending June 30, 2022 there are 11 million of weighted average stock options that are options not included in the diluted earnings per share calculation? Why? This information can be found in the current financial statement footnotes. PROVIDE A BRIEF EXPLANATION AS TO WHY THEY ARE NOT INCLUDED IN THE COMPUTATION HERE: PROVIDE A REFERENCE HERE AS TO WHERE YOU FOUND THE INFORMATION: 9.) Recompute basic earnings per share using the information contained in the footnotes. Be sure to reference the footnote and The Procter \& Gamble Company 37 38 The Procter \& Gamble Company Consolidated Statements of Comprehensive Income Amounts in millions: Years ended June 30 NET EARNINGS OTHER COMPREHENSIVE INCOME/(LOSS), NET OF TAX Foreign currency translation (net of tax of $515,$(266) and $59, respectively) (1,450)1,023 (1,083) Unrealized gains/(losses) on investment securities (net of tax of $1,$5 and $(1), respectively) 5 16 Unrealized gains/(losses) on defined benefit postretirement plans (net of tax of $1,022, \$445 and \$(42), respectively) TOTAL OTHER COMPREHENSIVE INCOME/(LOSS), NET OF TAX TOTAL COMPREHENSIVE INCOME Less: Comprehensive income attributable to noncontrolling interests TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO PROCTER \& GAMBLE The Procter \& Gamble Company 39 Consolidated Balance Sheets Amounts in millions excent stated values: As of June 30 Assets CURRENT ASSETS Cash and cash equivalents Accounts receivable INVENTORIES Materials and supplies Work in process Finished goods Total inventories Prepaid expenses and other current assets TOTAL CURRENT ASSETS PROPERTY, PLANT AND EQUIPMENT, NET GOODWILL TRADEMARKS AND OTHER INTANGIBLE ASSETS, NET OTHER NONCURRENT ASSETS TOTAL ASSETS 20222021 Liabilities and Shareholders' Equity CURRENT LIABILITIES Accounts payable S14,882$13,720 Accrued and other liabilities 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) 9,55410,523 Non-Voting Class B preferred stock, stated value $1 per share (200 shares authorized) Common stock, stated value $1 per share ( 10,000 shares authorized; shares issued: 2022 - 4,009.2, 2021 - 4,009.2) Additional paid-in capital 33,0818,64522,8488,88923,09933,132 Reserve for ESOP debt retirement Accumulated other comprehensive loss \begin{tabular}{rr} 6,809 & 6,153 \\ 7,616 & 10,269 \\ \hline 70,354 \\ \hline \end{tabular} Treasury stock, at cost (shares held: 2022 - 1,615.4, 2021 - 1,579.5) 843 870 Retained earnings Noncontrolling interest TOTAL SHAREHOLDERS' EQUITY TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 40 The Procter \& Gamble Company The Procter \& Gamble Company 41 3.) For the year ending June 30,2022P&G reported how much as the current portion of long term debt? What is their short-term weighted average interest rate? You will need the financial statement footnotes to answer this question. Current portion of long-term debt was Short term weighted average interest rate PROVIDE A REFERENCE HERE AS TO WHERE YOU FOUND THE INFORMATION: 4.) For the year ending June 30, 2022 P\& G reported how much as long-term debt? What is their long-term weighted average interest rate? You will need the financial statement footnotes to answer this question. Long term debt was Long-term weighted average interest rate PROVIDE A REFERENCE HERE AS TO WHERE YOU FOUND THE INFORMATION: 5.) How much was P\&G's loss on early extinguishment of debt? On which page did you find this information? You will need the financial statement footnotes to answer this question. Loss on extinguishment of debt: PROVIDE A REFERENCE HERE AS TO WHERE YOU FOUND THE INFORMATION: 6.) P\&G leases certain property and equipment for varying periods. For the fiscal year June 30,2022 what is the amount of the Right of use Assets capitalized as part of other non-current assets? You will need the financial statement footnotes to answer this question. PROVIDE A REFERENCE HERE AS TO WHERE YOU FOUND THE INFORMATION: 7.) At June 30, 2022, what is the present value of lease liabilities for future payments of operating lease liabilities? This can be found in the current financial statement footnotes. You will need the financial statement footnotes to answer this question. Present value of lease liabilities PROVIDE A REFERENCE HERE AS TO WHERE YOU FOUND THE INFORMATION: 8.) We know from chapter 16 that total income tax expense consists of the total current year taxes payable plus the change in the deferred tax asset or liability (tax expense or benefit). What is the makeup of P\&G's total tax expense for the year ending June 30,2022 ? This information can be found in the financial statement footnotes. You will need the financial statement footnotes to answer this question. HINT: Use the outline below to fill in the amounts. Be sure to tie to the total income tax expense as reported in the financial statement footnotes. Use only ONE of these columns, whichever is applicable. 8.) For the year ending June 30, 2022 there are 11 million of weighted average stock options that are options not included in the diluted earnings per share calculation? Why? This information can be found in the current financial statement footnotes. PROVIDE A BRIEF EXPLANATION AS TO WHY THEY ARE NOT INCLUDED IN THE COMPUTATION HERE: PROVIDE A REFERENCE HERE AS TO WHERE YOU FOUND THE INFORMATION: 9.) Recompute basic earnings per share using the information contained in the footnotes. Be sure to reference the footnote and