STOCKHOLDERS' EQUITY

12 Months Ended

Jun. 30, 2021

Stockholders' Equity Note [Abstract]

STOCKHOLDERS' EQUITY

On November 18, 2020 the Company retired 28 million shares of its treasury stock. These shares are now authorized but unissued. There was no effect on the Company’s overall equity position as a result of the retirement.

As of June 30, 2021, the Company had two stock repurchase programs: an open-market purchase program with an authorized aggregate purchase amount of up to $2,000, which has no expiration date, was authorized by the Board of Directors in May 2018, and a program to offset the anticipated impact of dilution related to stock-based awards (the Evergreen Program), which has no authorization limit on the dollar amount and no expiration date.

Stock repurchases under the two stock repurchase programs were as follows during the fiscal years ended June 30:

	2021			2020			2019
	Amount		Shares (in thousands)	Amount		Shares (in thousands)	Amount		Shares (in thousands)
Open-market purchase program	$	500	2,774	$	85	577	$	328	2,266
Evergreen Program	405		1,984	157		954	332		2,208
Total stock repurchases	$	905	4,758	$	242	1,531	$	660	4,474

Dividends per share paid to Clorox stockholders during the fiscal years ended June 30 were as follows:

	2021		2020		2019
Dividends per share paid	$	4.44	$	4.24	$	3.84

Accumulated Other Comprehensive Net (Loss) Income

Changes in Accumulated other comprehensive net (loss) income attributable to Clorox by component were as follows for the fiscal years ended June 30:

	Foreign currency translation adjustments		Net unrealized gains (losses) on derivatives		Pension and postretirement benefit adjustments		Accumulated other comprehensive net (loss) income
Balance June 30, 2018	$	(384)	$	(25)	$	(138)	$	(547)
Other comprehensive (loss) income before reclassifications	(20)		(5)		—		(25)
Amounts reclassified from Accumulated other comprehensive net (loss) income	—		6		6		12
Income tax benefit (expense)	(2)		1		(2)		(3)
Net current period other comprehensive (loss) income	(22)		2		4		(16)
Cumulative effect of accounting changes (1)	(8)		—		(31)		(39)
Balance June 30, 2019	(414)		(23)		(165)		(602)
Other comprehensive (loss) income before reclassifications	(35)		(5)		(16)		(56)
Amounts reclassified from Accumulated other comprehensive net (loss) income	—		10		7		17
Income tax benefit (expense)	(1)		—		2		1
Net current period other comprehensive (loss) income	(36)		5		(7)		(38)
Balance June 30, 2020	(450)		(18)		(172)		(640)
Other comprehensive (loss) income before reclassifications	53		44		(2)		95
Amounts reclassified from Accumulated other comprehensive net (loss) income	(5)		5		14		14
Income tax benefit (expense)	(1)		(10)		(4)		(15)
Net current period other comprehensive (loss) income	47		39		8		94
Balance June 30, 2021	$	(403)	$	21	$	(164)	$	(546)

(1) The opening balance of Accumulated other comprehensive net (loss) income was adjusted as a result of adopting ASU No. 2018-02, “Income Statement-Reporting Comprehensive Income (ASC 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income,” on April 1, 2019.

Included in foreign currency translation adjustments are re-measurement losses on long-term intercompany loans where settlement is not planned or anticipated in the foreseeable future. There were $11, $0, and $0 associated with these loans reclassified from Accumulated other comprehensive net (loss) income for the fiscal years ended June 30, 2021, 2020, and 2019, respectively.