丘奇＆德懷特第二季淨銷售15.3億美元 完成收購Miss Mouth's Messy Eater

10-Q
 
 
 
 --12-31falseP20YQ20000313927P20Yhttp://fasb.org/us-gaap/2025#OtherAssetsNoncurrenthttp://fasb.org/us-gaap/2025#OtherAssetsNoncurrenthttp://fasb.org/us-gaap/2025#AccountsPayableAndOtherAccruedLiabilitiesCurrenthttp://fasb.org/us-gaap/2025#AccountsPayableAndOtherAccruedLiabilitiesCurrenthttp://fasb.org/us-gaap/2025#OtherLiabilitiesNoncurrenthttp://fasb.org/us-gaap/2025#OtherLiabilitiesNoncurrenttwo years0000313927us-gaap:SoftwareDevelopmentMember2026-06-300000313927chd:EmployeeStockPurchasePlanMember2026-01-012026-06-300000313927chd:ConsumerDomesticMemberchd:MissMouthAcquisitionMember2026-01-012026-06-300000313927us-gaap:RetainedEarningsMember2026-01-012026-03-310000313927us-gaap:OperatingSegmentsMemberchd:ConsumerInternationalMember2026-01-012026-06-300000313927us-gaap:SoftwareDevelopmentMember2025-12-310000313927us-gaap:AccumulatedOtherComprehensiveIncomeMember2025-06-300000313927chd:ConsumerInternationalMember2026-01-012026-06-300000313927us-gaap:FairValueInputsLevel2Memberchd:ThreePointNineFivePercentSeniorNotesDueAugustOneTwoThousandAndFortySevenMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2026-06-300000313927chd:TouchlandAcquisitionMember2025-01-012025-12-310000313927us-gaap:TradeNamesMember2025-01-012025-12-3100003139272026-03-310000313927us-gaap:RetainedEarningsMember2025-03-310000313927us-gaap:OperatingSegmentsMemberchd:ConsumerDomesticMemberchd:HouseholdProductsMember2026-04-012026-06-300000313927chd:SpecialtyProductsDivisionMember2026-01-012026-06-300000313927us-gaap:PatentsMember2025-12-310000313927us-gaap:FairValueInputsLevel2Memberchd:ThreePointOneFivePercentSeniorNotesDueAugustOneTwoThousandAndTwentySevenMember2025-12-310000313927us-gaap:CommonStockMember2025-06-3000003139272025-03-310000313927chd:TheraBreathAcquisitionMember2026-01-012026-01-310000313927us-gaap:AdditionalPaidInCapitalMember2025-03-310000313927chd:TwoPointsThreePercentSeniorNotesDueDecemberFifteenTwoThousandAndThirtyOneMember2025-12-310000313927us-gaap:OperatingSegmentsMemberchd:ConsumerDomesticMemberchd:HouseholdProductsMember2025-01-012025-06-300000313927chd:ConsolidatingReclassificationMemberus-gaap:OperatingSegmentsMember2026-01-012026-06-300000313927chd:MissMouthsMessyEaterBrandMember2026-05-282026-05-280000313927chd:HeroAcquisitionMember2022-10-132022-10-130000313927us-gaap:TreasuryStockCommonMember2025-06-300000313927chd:FivePointZeroZeroPercentageNotesDueJuneFifteenTwoThousandFiftyTwoMember2026-06-300000313927us-gaap:OperatingSegmentsMember2025-04-012025-06-300000313927us-gaap:AdditionalPaidInCapitalMember2026-03-310000313927chd:MissMouthsMessyEaterBrandMember2025-01-012025-12-310000313927us-gaap:FairValueInputsLevel2Memberchd:FivePointSixPercentSeniorNotesDueNovember152032Member2025-12-310000313927us-gaap:OperatingSegmentsMember2026-04-012026-06-300000313927chd:VMSDivestitureMember2025-12-090000313927us-gaap:CarryingReportedAmountFairValueDisclosureMemberchd:ThreePointOneFivePercentSeniorNotesDueAugustOneTwoThousandAndTwentySevenMember2025-12-310000313927us-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMember2025-12-310000313927us-gaap:OperatingSegmentsMemberchd:ConsumerDomesticMember2025-01-012025-06-300000313927us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:EnergyRelatedDerivativeMember2026-06-300000313927chd:VMSDivestitureMember2026-01-012026-06-300000313927us-gaap:TreasuryStockCommonMember2025-01-012025-03-310000313927us-gaap:FairValueInputsLevel2Memberchd:FivePointSixPercentSeniorNotesDueNovember152032Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2026-06-300000313927chd:SpecialtyProductsDivisionMemberus-gaap:OperatingSegmentsMember2025-01-012025-06-300000313927us-gaap:CommonStockMember2025-03-310000313927us-gaap:AccumulatedOtherComprehensiveIncomeMember2026-04-012026-06-300000313927us-gaap:AccumulatedOtherComprehensiveIncomeMember2025-01-012025-03-310000313927us-gaap:PatentsMembersrt:MaximumMember2026-06-300000313927chd:EmployeeStockPurchasePlanMembersrt:MinimumMember2026-06-300000313927srt:MaximumMember2026-06-300000313927chd:PersonalCareProductsMemberus-gaap:OperatingSegmentsMemberchd:ConsumerDomesticMember2025-01-012025-06-300000313927us-gaap:OtherCapitalizedPropertyPlantAndEquipmentMember2025-12-310000313927chd:ZicamAcquisitionMember2026-06-300000313927us-gaap:CarryingReportedAmountFairValueDisclosureMemberchd:FivePointSixPercentSeniorNotesDueNovember152032Member2025-12-310000313927us-gaap:OperatingSegmentsMember2026-01-012026-06-300000313927chd:FivePointZeroZeroPercentageNotesDueJuneFifteenTwoThousandFiftyTwoMember2025-01-012025-12-310000313927us-gaap:RetainedEarningsMember2025-12-310000313927chd:ThreePointOneFivePercentSeniorNotesDueAugustOneTwoThousandAndTwentySevenMember2026-06-300000313927chd:ArmandProductsCompanyAndArmaKleenCompanyMember2026-01-012026-06-300000313927us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2025-01-012025-06-300000313927us-gaap:OperatingSegmentsMemberchd:ConsumerDomesticMember2026-01-012026-06-300000313927us-gaap:RestrictedStockUnitsRSUMember2026-06-300000313927us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2026-01-012026-06-300000313927srt:MinimumMemberus-gaap:CustomerRelationshipsMember2026-06-300000313927chd:ConsumerDomesticMember2026-06-300000313927chd:PerformanceStockUnitsPsusMember2026-01-012026-06-300000313927us-gaap:RetainedEarningsMember2025-06-300000313927chd:ThreePointNineFivePercentSeniorNotesDueAugustOneTwoThousandAndFortySevenMember2025-12-310000313927us-gaap:FairValueInputsLevel2Memberchd:ThreePointNineFivePercentSeniorNotesDueAugustOneTwoThousandAndFortySevenMember2025-12-310000313927us-gaap:TreasuryStockCommonMember2026-06-300000313927chd:WaterpikShowerheadsBusinessExitMember2025-05-012025-05-0100003139272025-06-300000313927us-gaap:EquityContractMemberus-gaap:NondesignatedMember2025-12-310000313927us-gaap:RetainedEarningsMember2025-01-012025-03-310000313927us-gaap:FairValueInputsLevel2Memberchd:TwoPointsThreePercentSeniorNotesDueDecemberFifteenTwoThousandAndThirtyOneMember2026-06-300000313927chd:TwoPointsThreePercentSeniorNotesDueDecemberFifteenTwoThousandAndThirtyOneMember2026-01-012026-06-300000313927us-gaap:CarryingReportedAmountFairValueDisclosureMemberchd:FivePointSixPercentSeniorNotesDueNovember152032Member2026-06-300000313927us-gaap:RetainedEarningsMember2024-12-310000313927chd:ZicamAcquisitionMember2020-12-012020-12-010000313927chd:SpecialtyProductsDivisionMemberus-gaap:OperatingSegmentsMember2025-04-012025-06-300000313927us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2025-06-300000313927chd:FivePointZeroZeroPercentSeniorNotesDueJuneFifteenTwoThousandFiftyTwoMember2026-06-300000313927us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:ForeignExchangeContractMember2026-06-300000313927chd:TouchlandAcquisitionMember2025-07-162025-07-160000313927us-gaap:TreasuryStockCommonMember2026-04-012026-06-300000313927chd:SpecialtyProductsDivisionMember2025-12-310000313927us-gaap:PatentsMembersrt:MinimumMember2026-06-300000313927us-gaap:CarryingReportedAmountFairValueDisclosureMemberchd:ThreePointNineFivePercentSeniorNotesDueAugustOneTwoThousandAndFortySevenMember2026-06-300000313927us-gaap:RetainedEarningsMember2026-03-3100003139272026-01-012026-03-310000313927us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2026-01-012026-06-300000313927chd:PersonalCareProductsMemberus-gaap:OperatingSegmentsMemberchd:ConsumerDomesticMember2026-01-012026-06-300000313927us-gaap:LandMember2025-12-310000313927chd:FlawlessTradeNameAndSpinbrushCustomerRelationshipMember2026-01-012026-06-300000313927us-gaap:CommonStockMember2024-12-310000313927us-gaap:FairValueInputsLevel2Memberchd:FivePointZeroZeroPercentSeniorNotesDueJuneFifteenTwoThousandFiftyTwoMember2025-12-310000313927us-gaap:AccumulatedOtherComprehensiveIncomeMember2025-03-310000313927srt:ScenarioForecastMember2029-04-012029-06-300000313927us-gaap:BuildingAndBuildingImprovementsMember2025-12-310000313927srt:MinimumMember2026-06-300000313927chd:TheraBreathAcquisitionMember2021-12-242021-12-2400003139272026-01-012026-06-300000313927us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2026-06-300000313927us-gaap:TreasuryStockCommonMember2026-01-012026-03-310000313927chd:WaterpikMember2025-10-012025-10-010000313927chd:MissMouthsMessyEaterBrandMember2026-01-012026-06-300000313927chd:ThreePointOneFivePercentSeniorNotesDueAugustOneTwoThousandAndTwentySevenMember2025-12-310000313927us-gaap:AdditionalPaidInCapitalMember2026-04-012026-06-300000313927chd:FivePointSixPercentSeniorNotesDueNovember152032Member2025-12-310000313927us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2024-12-310000313927chd:ConsumerDomesticMember2026-01-012026-06-300000313927chd:PerformanceStockUnitsPsusMember2026-06-300000313927chd:TouchlandAcquisitionMember2026-06-300000313927us-gaap:FairValueInputsLevel2Memberchd:FivePointZeroZeroPercentSeniorNotesDueJuneFifteenTwoThousandFiftyTwoMember2026-06-300000313927us-gaap:AdditionalPaidInCapitalMember2025-06-300000313927chd:VMSDivestitureMember2025-01-012025-03-310000313927us-gaap:TradeNamesMember2025-12-310000313927us-gaap:AccumulatedOtherComprehensiveIncomeMember2026-01-012026-03-310000313927us-gaap:FairValueInputsLevel2Memberchd:ThreePointOneFivePercentSeniorNotesDueAugustOneTwoThousandAndTwentySevenMember2026-06-300000313927chd:ZicamAcquisitionMember2026-01-012026-06-300000313927chd:FivePointZeroZeroPercentageNotesDueJuneFifteenTwoThousandFiftyTwoMember2026-01-012026-06-300000313927chd:ArmandProductsCompanyAndArmaKleenCompanyMember2026-04-012026-06-300000313927us-gaap:AccumulatedTranslationAdjustmentMember2024-12-310000313927us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2026-06-300000313927us-gaap:OperatingSegmentsMemberchd:ConsumerInternationalMember2025-04-012025-06-300000313927us-gaap:CarryingReportedAmountFairValueDisclosureMemberchd:ThreePointOneFivePercentSeniorNotesDueAugustOneTwoThousandAndTwentySevenMember2026-06-300000313927chd:EmployeeStockPurchasePlanMember2026-06-300000313927us-gaap:AdditionalPaidInCapitalMember2026-01-012026-03-310000313927chd:SpinbrushDivestitureMember2025-01-012025-12-310000313927chd:TouchlandAcquisitionMember2026-04-012026-06-300000313927us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2026-06-300000313927us-gaap:TreasuryStockCommonMember2024-12-310000313927us-gaap:FairValueInputsLevel2Memberchd:ThreePointOneFivePercentSeniorNotesDueAugustOneTwoThousandAndTwentySevenMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2026-06-300000313927us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2025-12-310000313927chd:ThreePointNineFivePercentSeniorNotesDueAugustOneTwoThousandAndFortySevenMember2026-01-012026-06-300000313927chd:SpecialtyProductsDivisionMemberus-gaap:OperatingSegmentsMember2026-01-012026-06-300000313927srt:MinimumMemberus-gaap:TradeNamesMember2026-06-300000313927us-gaap:CarryingReportedAmountFairValueDisclosureMember2026-06-300000313927us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-12-310000313927chd:SpinbrushImpairmentMember2025-12-310000313927us-gaap:AccumulatedTranslationAdjustmentMember2025-01-012025-06-300000313927us-gaap:AccumulatedOtherComprehensiveIncomeMember2026-06-300000313927chd:MissMouthsMessyEaterBrandMembersrt:ScenarioForecastMember2026-07-012026-12-310000313927us-gaap:AccumulatedOtherComprehensiveIncomeMember2025-04-012025-06-3000003139272025-01-012025-03-310000313927us-gaap:TreasuryStockCommonMember2025-12-310000313927chd:ConsumerInternationalMember2026-06-300000313927us-gaap:RestrictedStockUnitsRSUMember2026-01-012026-06-300000313927chd:ThreePointOneFivePercentSeniorNotesDueAugustOneTwoThousandAndTwentySevenMember2026-01-012026-06-300000313927us-gaap:OperatingSegmentsMemberchd:ConsumerInternationalMember2025-01-012025-06-3000003139272026-07-290000313927us-gaap:TradeNamesMember2025-12-310000313927us-gaap:FairValueInputsLevel2Memberchd:TwoPointsThreePercentSeniorNotesDueDecemberFifteenTwoThousandAndThirtyOneMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2026-06-300000313927us-gaap:RetainedEarningsMember2026-06-300000313927us-gaap:OperatingSegmentsMemberchd:ConsumerDomesticMemberchd:HouseholdProductsMember2026-01-012026-06-300000313927chd:ConsumerInternationalMember2025-12-310000313927us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2026-06-300000313927us-gaap:AccumulatedOtherComprehensiveIncomeMember2026-03-310000313927us-gaap:CarryingReportedAmountFairValueDisclosureMember2025-12-310000313927us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:NetInvestmentHedgingMember2026-06-300000313927us-gaap:PatentsMember2025-01-012025-12-310000313927us-gaap:CommonStockMember2026-06-300000313927us-gaap:FairValueInputsLevel2Memberchd:ThreePointOneFivePercentSeniorNotesDueAugustOneTwoThousandAndTwentySevenMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2025-12-3100003139272021-10-280000313927us-gaap:CommonStockMember2025-12-3100003139272025-04-012025-06-300000313927us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2025-12-310000313927chd:TheraBreathAcquisitionMember2025-01-012025-03-310000313927us-gaap:OperatingSegmentsMemberchd:ConsumerDomesticMember2026-04-012026-06-300000313927chd:SpecialtyProductsDivisionMemberchd:MissMouthAcquisitionMember2026-01-012026-06-300000313927us-gaap:MachineryAndEquipmentMember2026-06-300000313927us-gaap:FairValueInputsLevel2Memberchd:ThreePointNineFivePercentSeniorNotesDueAugustOneTwoThousandAndFortySevenMember2026-06-300000313927us-gaap:CommonStockMemberchd:TouchlandAcquisitionMember2026-01-012026-06-3000003139272025-01-012025-12-310000313927chd:FlawlessTradeNameAndSpinbrushCustomerRelationshipMember2026-06-300000313927chd:SpecialtyProductsDivisionMember2026-06-300000313927us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CommodityContractMember2025-12-310000313927us-gaap:RestrictedStockUnitsRSUMember2025-12-310000313927us-gaap:AdditionalPaidInCapitalMember2024-12-310000313927chd:TouchlandAcquisitionMember2025-07-160000313927srt:ScenarioForecastMember2031-04-012031-06-300000313927us-gaap:LandMember2026-06-300000313927us-gaap:FairValueInputsLevel2Memberchd:FivePointZeroZeroPercentSeniorNotesDueJuneFifteenTwoThousandFiftyTwoMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2026-06-300000313927us-gaap:AccumulatedTranslationAdjustmentMember2026-06-300000313927us-gaap:TradeNamesMembersrt:MaximumMember2026-06-3000003139272024-10-012024-10-010000313927chd:MissMouthsMessyEaterBrandMember2026-06-300000313927chd:TheraBreathAcquisitionMembersrt:MinimumMember2021-12-242021-12-240000313927chd:ThreePointNineFivePercentSeniorNotesDueAugustOneTwoThousandAndFortySevenMemberus-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2025-12-310000313927chd:ConsumerInternationalMemberchd:MissMouthAcquisitionMember2026-01-012026-06-300000313927chd:FivePointZeroZeroPercentSeniorNotesDueJuneFifteenTwoThousandFiftyTwoMember2025-12-310000313927us-gaap:CommonStockMember2026-03-310000313927chd:MissMouthsMessyEaterBrandMember2026-05-280000313927srt:MaximumMemberus-gaap:CustomerRelationshipsMember2026-06-300000313927chd:FlawlessBusinessExitMember2025-01-012025-12-310000313927chd:ZicamAcquisitionMembersrt:MaximumMember2020-11-292020-12-010000313927chd:SpinbrushDivestitureMember2025-05-012025-05-010000313927us-gaap:EquityContractMemberus-gaap:NondesignatedMember2026-06-300000313927chd:ConsolidatingReclassificationMemberus-gaap:OperatingSegmentsMember2025-01-012025-06-3000003139272024-12-310000313927us-gaap:CustomerRelationshipsMember2025-12-310000313927chd:SpinbrushImpairmentMember2026-06-300000313927us-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMember2026-06-300000313927us-gaap:CustomerRelationshipsMember2026-06-300000313927chd:FivePointZeroZeroPercentageNotesDueJuneFifteenTwoThousandFiftyTwoMember2025-12-310000313927us-gaap:FairValueInputsLevel2Memberchd:FivePointSixPercentSeniorNotesDueNovember152032Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2025-12-310000313927us-gaap:TradeNamesMember2026-06-300000313927chd:ConsumerDomesticMember2025-12-310000313927us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:NetInvestmentHedgingMember2025-12-310000313927us-gaap:OperatingSegmentsMember2025-01-012025-06-300000313927chd:TouchlandAcquisitionMember2024-01-012024-12-310000313927us-gaap:TradeNamesMember2025-10-010000313927us-gaap:RetainedEarningsMember2025-04-012025-06-300000313927chd:FivePointSixPercentSeniorNotesDueNovember152032Member2026-01-012026-06-300000313927chd:VMSDivestitureMember2025-12-092025-12-090000313927us-gaap:OperatingSegmentsMemberchd:ConsumerDomesticMember2025-04-012025-06-300000313927srt:MaximumMemberchd:PerformanceStockUnitsPsusMember2026-06-300000313927us-gaap:AdditionalPaidInCapitalMember2025-04-012025-06-300000313927us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CommodityContractMember2026-06-300000313927us-gaap:CarryingReportedAmountFairValueDisclosureMemberchd:FivePointZeroZeroPercentSeniorNotesDueJuneFifteenTwoThousandFiftyTwoMember2025-12-310000313927us-gaap:CarryingReportedAmountFairValueDisclosureMemberchd:TwoPointsThreePercentSeniorNotesDueDecemberFifteenTwoThousandAndThirtyOneMember2026-06-300000313927chd:ArmandProductsCompanyMember2026-06-300000313927us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:ForeignExchangeContractMember2025-12-310000313927chd:TheraBreathAcquisitionMember2024-01-3100003139272026-06-300000313927us-gaap:FairValueInputsLevel2Memberchd:FivePointSixPercentSeniorNotesDueNovember152032Member2026-06-300000313927us-gaap:CarryingReportedAmountFairValueDisclosureMemberchd:ThreePointNineFivePercentSeniorNotesDueAugustOneTwoThousandAndFortySevenMember2025-12-310000313927chd:TouchlandAcquisitionMember2026-01-012026-06-300000313927us-gaap:AccumulatedTranslationAdjustmentMember2025-12-310000313927us-gaap:RetainedEarningsMember2026-04-012026-06-300000313927chd:FivePointSixPercentSeniorNotesDueNovember152032Member2026-06-300000313927us-gaap:AccumulatedTranslationAdjustmentMember2025-06-300000313927chd:EmployeeStockPurchasePlanMembersrt:MinimumMember2025-12-310000313927us-gaap:PatentsMember2026-06-300000313927chd:ArmandProductsCompanyAndArmaKleenCompanyMember2025-01-012025-06-300000313927chd:CommercialBankMember2026-06-300000313927chd:TheraBreathAcquisitionMembersrt:MaximumMember2021-12-242021-12-240000313927us-gaap:TreasuryStockCommonMember2025-04-012025-06-300000313927chd:PersonalCareProductsMemberus-gaap:OperatingSegmentsMemberchd:ConsumerDomesticMember2026-04-012026-06-300000313927us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2025-06-300000313927chd:PerformanceStockUnitsPsusMember2025-12-310000313927us-gaap:AccumulatedOtherComprehensiveIncomeMember2025-12-310000313927chd:WaterpikShowerheadsBusinessExitMember2025-01-012025-12-310000313927us-gaap:FairValueInputsLevel2Memberchd:TwoPointsThreePercentSeniorNotesDueDecemberFifteenTwoThousandAndThirtyOneMember2025-12-310000313927chd:MissMouthAcquisitionMember2026-01-012026-06-300000313927us-gaap:OperatingSegmentsMemberchd:ConsumerInternationalMember2026-04-012026-06-300000313927chd:PersonalCareProductsMemberus-gaap:OperatingSegmentsMemberchd:ConsumerDomesticMember2025-04-012025-06-300000313927us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2024-12-310000313927us-gaap:AdditionalPaidInCapitalMember2025-12-310000313927us-gaap:AdditionalPaidInCapitalMember2026-06-300000313927chd:ThreePointNineFivePercentSeniorNotesDueAugustOneTwoThousandAndFortySevenMember2025-01-012025-12-310000313927chd:ConsolidatingReclassificationMemberus-gaap:OperatingSegmentsMember2025-04-012025-06-3000003139272025-12-310000313927us-gaap:AccumulatedTranslationAdjustmentMember2026-01-012026-06-300000313927us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2025-12-310000313927us-gaap:TradeNamesMember2026-06-300000313927us-gaap:BuildingAndBuildingImprovementsMember2026-06-3000003139272026-04-012026-06-300000313927us-gaap:OtherCapitalizedPropertyPlantAndEquipmentMember2026-06-300000313927us-gaap:TreasuryStockCommonMember2025-03-310000313927us-gaap:CustomerRelationshipsMember2025-01-012025-12-310000313927us-gaap:CarryingReportedAmountFairValueDisclosureMemberchd:FivePointZeroZeroPercentSeniorNotesDueJuneFifteenTwoThousandFiftyTwoMember2026-06-300000313927srt:MinimumMemberchd:PerformanceStockUnitsPsusMember2026-06-300000313927chd:FivePointSixPercentSeniorNotesDueNovember152032Member2025-01-012025-12-310000313927us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2025-01-012025-06-300000313927us-gaap:CarryingReportedAmountFairValueDisclosureMemberchd:TwoPointsThreePercentSeniorNotesDueDecemberFifteenTwoThousandAndThirtyOneMember2025-12-3100003139272025-10-012025-10-010000313927chd:ConsolidatingReclassificationMemberus-gaap:OperatingSegmentsMember2026-04-012026-06-300000313927chd:TwoPointsThreePercentSeniorNotesDueDecemberFifteenTwoThousandAndThirtyOneMember2026-06-300000313927us-gaap:ConstructionInProgressMember2026-06-300000313927chd:FlawlessBusinessExitMember2025-05-012025-05-010000313927us-gaap:FairValueInputsLevel2Memberchd:FivePointZeroZeroPercentSeniorNotesDueJuneFifteenTwoThousandFiftyTwoMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2025-12-310000313927us-gaap:OperatingSegmentsMemberchd:ConsumerDomesticMemberchd:HouseholdProductsMember2025-04-012025-06-3000003139272025-01-012025-06-300000313927chd:TwoPointsThreePercentSeniorNotesDueDecemberFifteenTwoThousandAndThirtyOneMember2025-01-012025-12-310000313927us-gaap:MachineryAndEquipmentMember2025-12-310000313927us-gaap:FairValueInputsLevel2Memberchd:TwoPointsThreePercentSeniorNotesDueDecemberFifteenTwoThousandAndThirtyOneMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2025-12-310000313927chd:SpecialtyProductsDivisionMemberus-gaap:OperatingSegmentsMember2026-04-012026-06-300000313927chd:ThreePointOneFivePercentSeniorNotesDueAugustOneTwoThousandAndTwentySevenMember2025-01-012025-12-310000313927us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:EnergyRelatedDerivativeMember2025-12-310000313927us-gaap:ConstructionInProgressMember2025-12-310000313927chd:ArmandProductsCompanyAndArmaKleenCompanyMember2025-04-012025-06-300000313927chd:ThreePointNineFivePercentSeniorNotesDueAugustOneTwoThousandAndFortySevenMember2026-06-300000313927us-gaap:TreasuryStockCommonMember2026-03-310000313927us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2025-12-310000313927us-gaap:AdditionalPaidInCapitalMember2025-01-012025-03-310000313927srt:MaximumMember2019-05-012019-05-01iso4217:USDxbrli:sharesxbrli:purexbrli:shareschd:Tonsiso4217:USDutr:galchd:Segment

  

 UNITED STATES 
SECURITIES AND EXCHANGE COMMISSION 
Washington, D.C. 20549 
 
FORM 10-Q 
 
(MARK ONE)

 
 
 
 
 

 
 ☒

 QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

  
For the quarter ended June 30, 2026
OR
 

 
 
 
 
 

 
 ☐

 TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

  
For the transition period from to 
Commission file number 1-10585
 

CHURCH & DWIGHT CO., INC.
(Exact name of registrant as specified in its charter) 
 
 

 
 
 
 
 
 

 
 Delaware

 

 13-4996950

 

 
 (State or other jurisdiction of
incorporation or organization)

 

 (I.R.S. Employer
Identification No.)

 

 500 Charles Ewing Boulevard, Ewing, NJ 08628 
(Address of principal executive offices) 
Registrant’s telephone number, including area code: (609) 806-1200 
 

 
 
 
 

 
  

 

 Securities registered pursuant to Section 12(b) of the Act: 

 
 
 
 
 
 
 

 
 Title of each class

  

 Trading Symbol(s)

 Name of each exchange
on which registered

 

 
 Common Stock, $1 par value

  

 CHD

 New York Stock Exchange

 

 Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding twelve months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐ 
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐ 
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act. 
 

 
 
 
 
 
 
 
 
 
 

 
 Large accelerated filer

 

 ☒

 

 Accelerated filer

 

 ☐

 

 
 Non-accelerated filer

 

 ☐

 

 Smaller reporting company

 

 ☐

 

 
 Emerging growth company

 

 ☐

  

  

  

  

 

 If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ 
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒
As of July 29, 2026, there were 237,203,907 shares of Common Stock outstanding. 

  

 
  

  

  

 
  

 TABLE OF CONTENTS
PART I 
 

 
 
 
 
 
 
 
 

 
 Item

  

  

  

 Page

 

 
 1.

  

 Financial Statements

  

 3

 

 
  

  

  

  

  

 

 
 2.

  

 Management’s Discussion and Analysis of Financial Condition and Results of Operations

  

 24

 

 
  

  

  

  

  

 

 
 3.

  

 Quantitative and Qualitative Disclosures about Market Risk

  

 32

 

 
  

  

  

  

  

 

 
 4.

  

 Controls and Procedures

  

 33

 

 PART II
 

 
 
 
 
 
 
 
 

 
 1.

  

 Legal Proceedings

  

 34

 

 
  

  

  

  

  

 

 
 1A.

  

 Risk Factors

  

 34

 

 
  

  

  

  

  

 

 
 2.

  

 Unregistered Sales of Equity Securities and Use of Proceeds

  

 34

 

 
  

  

  

  

  

 

 
 5.

  

 Other Information 

  

 35

 

 
  

  

  

  

  

 

 
 6.

  

 Exhibits

  

 36

 

 
  

  

  

  

  

 

  
 
 

 2

 
  

  
PART I – FINANCIAL INFORMATION 
ITEM 1: FINANCIAL STATEMENTS 
CHURCH & DWIGHT CO., INC. AND SUBSIDIARIES 
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(Unaudited) 
(In millions, except per share data) 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 
  

  

 Three Months Ended

  

  

 Six Months Ended

  

 

 
  

  

 June 30,

  

  

 June 30,

  

  

 June 30,

  

  

 June 30,

  

 

 
  

  

 2026

  

  

 2025

  

  

 2026

  

  

 2025

  

 

 
 Net Sales

  

 $

 1,530.0

  

  

 $

 1,506.3

  

  

 $

 2,999.3

  

  

 $

 2,973.4

  

 

 
 Cost of sales

  

  

 836.1

  

  

  

 859.3

  

  

  

 1,624.0

  

  

  

 1,666.8

  

 

 
 Gross Profit

  

  

 693.9

  

  

  

 647.0

  

  

  

 1,375.3

  

  

  

 1,306.6

  

 

 
 Marketing expenses

  

  

 165.3

  

  

  

 157.1

  

  

  

 304.7

  

  

  

 293.7

  

 

 
 Selling, general and administrative expenses

  

  

 252.2

  

  

  

 228.2

  

  

  

 503.2

  

  

  

 455.9

  

 

 
 Income from Operations

  

  

 276.4

  

  

  

 261.7

  

  

  

 567.4

  

  

  

 557.0

  

 

 
 Equity in earnings of affiliates

  

  

 2.7

  

  

  

 2.8

  

  

  

 5.0

  

  

  

 4.4

  

 

 
 Interest income

  

  

 1.4

  

  

  

 9.2

  

  

  

 3.9

  

  

  

 18.5

  

 

 
 Interest expense

  

  

 (24.2

 )

  

  

 (23.5

 )

  

  

 (48.2

 )

  

  

 (46.8

 )

 

 
 Other income (expense), net

  

  

 (0.4

 )

  

  

 0.3

  

  

  

 0.4

  

  

  

 (0.5

 )

 

 
 Income before Income Taxes

  

  

 255.9

  

  

  

 250.5

  

  

  

 528.5

  

  

  

 532.6

  

 

 
 Income taxes

  

  

 53.1

  

  

  

 59.5

  

  

  

 109.4

  

  

  

 121.5

  

 

 
 Net Income

  

 $

 202.8

  

  

 $

 191.0

  

  

 $

 419.1

  

  

 $

 411.1

  

 

 
  

  

  

  

  

  

  

  

  

  

  

  

  

 

 
 Weighted average shares outstanding - Basic

  

  

 236.7

  

  

  

 244.7

  

  

  

 236.6

  

  

  

 245.2

  

 

 
 Weighted average shares outstanding - Diluted

  

  

 238.2

  

  

  

 246.4

  

  

  

 238.2

  

  

  

 247.2

  

 

 
 Net income per share - Basic

  

 $

 0.86

  

  

 $

 0.78

  

  

 $

 1.77

  

  

 $

 1.68

  

 

 
 Net income per share - Diluted

  

 $

 0.85

  

  

 $

 0.78

  

  

 $

 1.76

  

  

 $

 1.66

  

 

 
 Cash dividends per share

  

 $

 0.31

  

  

 $

 0.30

  

  

 $

 0.62

  

  

 $

 0.59

  

 

 CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME 
(Unaudited) 
(In millions) 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 
  

  

 Three Months Ended

  

  

 Six Months Ended

  

 

 
  

  

 June 30,

  

  

 June 30,

  

  

 June 30,

  

  

 June 30,

  

 

 
  

  

 2026

  

  

 2025

  

  

 2026

  

  

 2025

  

 

 
 Net Income

  

 $

 202.8

  

  

 $

 191.0

  

  

 $

 419.1

  

  

 $

 411.1

  

 

 
 Other comprehensive income, net of tax:

  

  

  

  

  

  

  

  

  

  

  

  

 

 
 Foreign exchange translation adjustments

  

  

 0.0

  

  

  

 16.9

  

  

  

 (4.5

 )

  

  

 23.2

  

 

 
 Defined benefit plan adjustments gain (loss)

  

  

 0.0

  

  

  

 0.0

  

  

  

 (0.4

 )

  

  

 0.4

  

 

 
 Income (loss) from derivative agreements

  

  

 2.1

  

  

  

 (9.2

 )

  

  

 10.3

  

  

  

 (11.1

 )

 

 
 Other comprehensive income

  

  

 2.1

  

  

  

 7.7

  

  

  

 5.4

  

  

  

 12.5

  

 

 
 Comprehensive income

  

 $

 204.9

  

  

 $

 198.7

  

  

 $

 424.5

  

  

 $

 423.6

  

 

  
See Notes to Condensed Consolidated Financial Statements (Unaudited). 
 
 

 3

 
  

 CHURCH & DWIGHT CO., INC. AND SUBSIDIARIES 
CONDENSED CONSOLIDATED BALANCE SHEETS 
(Unaudited) 
(In millions, except share and per share data) 
 

 
 
 
 
 
 
 
 
 
 
 
 

 
  

  

 June 30,

  

  

 December 31,

  

 

 
  

  

 2026

  

  

 2025

  

 

 
 Assets

  

  

  

  

  

  

 

 
 Current Assets

  

  

  

  

  

  

 

 
 Cash and cash equivalents

  

 $

 254.8

  

  

 $

 409.0

  

 

 
 Accounts receivable, less allowances of $2.6 and $3.7

  

  

 596.8

  

  

  

 593.4

  

 

 
 Inventories

  

  

 601.9

  

  

  

 534.8

  

 

 
 Other current assets

  

  

 68.2

  

  

  

 59.8

  

 

 
 Total Current Assets

  

  

 1,521.7

  

  

  

 1,597.0

  

 

 
  

  

  

  

  

  

  

 

 
 Property, Plant and Equipment, Net

  

  

 826.5

  

  

  

 822.8

  

 

 
 Equity Investment in Affiliates

  

  

 12.1

  

  

  

 10.3

  

 

 
 Trade Names and Other Intangibles, Net

  

  

 3,743.1

  

  

  

 3,511.5

  

 

 
 Goodwill

  

  

 2,649.9

  

  

  

 2,627.5

  

 

 
 Other Assets

  

  

 352.4

  

  

  

 343.3

  

 

 
 Total Assets

  

 $

 9,105.7

  

  

 $

 8,912.4

  

 

 
  

  

  

  

  

  

  

 

 
 Liabilities and Stockholders' Equity

  

  

  

  

  

  

 

 
 Current Liabilities

  

  

  

  

  

  

 

 
 Short-term borrowings

  

 $

 49.9

  

  

 $

 0.0

  

 

 
 Accounts payable

  

  

 775.9

  

  

  

 732.4

  

 

 
 Accrued expenses and other liabilities

  

  

 481.9

  

  

  

 583.0

  

 

 
 Business acquisition and divestiture liabilities

  

  

 14.6

  

  

  

 178.9

  

 

 
 Income taxes payable

  

  

 4.9

  

  

  

 3.4

  

 

 
 Total Current Liabilities

  

  

 1,327.2

  

  

  

 1,497.7

  

 

 
  

  

  

  

  

  

  

 

 
 Long-term Debt

  

  

 2,206.3

  

  

  

 2,205.1

  

 

 
 Deferred Income Taxes

  

  

 894.1

  

  

  

 886.9

  

 

 
 Deferred and Other Long-term Liabilities

  

  

 330.3

  

  

  

 320.5

  

 

 
 Total Liabilities

  

  

 4,757.9

  

  

  

 4,910.2

  

 

 
  

  

  

  

  

  

  

 

 
 Commitments and Contingencies

  

  

  

  

  

  

 

 
 Stockholders' Equity

  

  

  

  

  

  

 

 
 Preferred Stock, $1.00 par value, Authorized 2,500,000 shares; none issued

  

  

 0.0

  

  

  

 0.0

  

 

 
 Common Stock, $1.00 par value, Authorized 600,000,000 shares and 293,709,982 shares issued 
      as of June 30, 2026 and December 31, 2025

  

  

 293.7

  

  

  

 293.7

  

 

 
 Additional paid-in capital

  

  

 676.9

  

  

  

 625.1

  

 

 
 Retained earnings

  

  

 7,040.3

  

  

  

 6,768.2

  

 

 
 Accumulated other comprehensive loss

  

  

 (14.5

 )

  

  

 (19.9

 )

 

 
 Common stock in treasury, at cost: 56,573,080 shares as of June 30, 2026 and 57,156,105 shares as of December 31, 2025

  

  

 (3,648.6

 )

  

  

 (3,664.9

 )

 

 
 Total Stockholders' Equity

  

  

 4,347.8

  

  

  

 4,002.2

  

 

 
 Total Liabilities and Stockholders' Equity

  

 $

 9,105.7

  

  

 $

 8,912.4

  

 

  
See Notes to Condensed Consolidated Financial Statements (Unaudited).
 
 

 4

 
  

 CHURCH & DWIGHT CO., INC. AND SUBSIDIARIES 
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW 
(Unaudited) 
(In millions) 
 

 
 
 
 
 
 
 
 
 
 
 

 
  

 Six Months Ended

  

 

 
  

 June 30,

  

  

 June 30,

  

 

 
  

 2026

  

  

 2025

  

 

 
 Cash Flow From Operating Activities

  

  

  

  

  

 

 
 Net Income

 $

 419.1

  

  

 $

 411.1

  

 

 
 Adjustments to reconcile net income to net cash provided by operating activities:

  

  

  

  

  

 

 
 Depreciation expense

  

 43.6

  

  

  

 45.1

  

 

 
 Amortization expense

  

 83.6

  

  

  

 72.4

  

 

 
 Deferred income taxes

  

 4.4

  

  

  

 (12.8

 )

 

 
 Business exit related impairments

  

 0.0

  

  

  

 51.0

  

 

 
 Equity in net earnings of affiliates

  

 (5.0

 )

  

  

 (4.4

 )

 

 
 Distributions from unconsolidated affiliates

  

 3.2

  

  

  

 4.3

  

 

 
 Non-cash compensation expense

  

 42.6

  

  

  

 30.2

  

 

 
 Other

  

 5.1

  

  

  

 5.7

  

 

 
 Subtotal

  

 596.6

  

  

  

 602.6

  

 

 
 Change in assets and liabilities:

  

  

  

  

  

 

 
 Accounts receivable

  

 (5.9

 )

  

  

 4.3

  

 

 
 Inventories

  

 (65.4

 )

  

  

 (2.9

 )

 

 
 Other current assets

  

 (12.1

 )

  

  

 (0.9

 )

 

 
 Accounts payable

  

 52.5

  

  

  

 (13.5

 )

 

 
 Accrued expenses

  

 (105.2

 )

  

  

 (149.6

 )

 

 
 Income taxes payable

  

 11.2

  

  

  

 (12.9

 )

 

 
 Other operating assets and liabilities, net

  

 (10.1

 )

  

  

 (10.6

 )

 

 
 Change in Working Capital

  

 (135.0

 )

  

  

 (186.1

 )

 

 
 Net Cash Provided By Operating Activities

  

 461.6

  

  

  

 416.5

  

 

 
 Cash Flow From Investing Activities

  

  

  

  

  

 

 
 Additions to property, plant and equipment

  

 (61.8

 )

  

  

 (39.0

 )

 

 
 Acquisition, net of cash acquired

  

 (300.0

 )

  

  

 0.0

  

 

 
 Other

  

 (0.1

 )

  

  

 (0.6

 )

 

 
 Net Cash Used In Investing Activities

  

 (361.9

 )

  

  

 (39.6

 )

 

 
 Cash Flow From Financing Activities

  

  

  

  

  

 

 
 Payment of cash dividends

  

 (145.8

 )

  

  

 (145.0

 )

 

 
 Purchase of treasury stock

  

 0.0

  

  

  

 (300.0

 )

 

 
 Payment of business acquisition liabilities

  

 (180.5

 )

  

  

 (5.9

 )

 

 
 Short-term debt borrowings (repayments)

  

 49.9

  

  

  

 0.0

  

 

 
 Proceeds from stock options exercised

  

 30.8

  

  

  

 26.6

  

 

 
 Other stock award activity

  

 (5.7

 )

  

  

 (2.5

 )

 

 
 Other

  

 (0.4

 )

  

 0.0

  

 

 
 Net Cash Used In Financing Activities

  

 (251.7

 )

  

  

 (426.8

 )

 

 
 Effect of exchange rate changes on cash and cash equivalents

  

 (2.2

 )

  

  

 9.0

  

 

 
 Net Change In Cash and Cash Equivalents

  

 (154.2

 )

  

  

 (40.9

 )

 

 
 Cash and Cash Equivalents at Beginning of Period

  

 409.0

  

  

  

 964.1

  

 

 
 Cash and Cash Equivalents at End of Period

 $

 254.8

  

  

 $

 923.2

  

 

 See Notes to Condensed Consolidated Financial Statements (Unaudited).

 5

 
  

 CHURCH & DWIGHT CO., INC. AND SUBSIDIARIES 
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW-CONTINUED 
(Unaudited) 
(In millions) 
 

 
 
 
 
 
 
 
 
 
 
 

 
  

 Six Months Ended

  

 

 
  

 June 30,

  

  

 June 30,

  

 

 
  

 2026

  

  

 2025

  

 

 
 Cash paid during the period for:

  

  

  

  

  

 

 
 Interest (net of amounts capitalized)

 $

 47.7

  

  

 $

 46.6

  

 

 
 Income taxes

 $

 92.6

  

  

 $

 146.7

  

 

 
 Supplemental disclosure of non-cash investing activities:

  

  

  

  

  

 

 
 Property, plant and equipment expenditures included in Accounts Payable

 $

 10.2

  

  

 $

 15.0

  

 

  
See Notes to Condensed Consolidated Financial Statements (Unaudited). 
 
 
 

 6

 
  

 CHURCH & DWIGHT CO., INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY 
 (Unaudited) 
(In millions) 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 
  

 Number of Shares

  

  

 Amounts

  

 

 
  

 Common
Stock

  

  

 Treasury
Stock

  

  

 Common
Stock

  

  

 Additional
Paid-In
Capital

  

  

 Retained
Earnings

  

  

 Accumulated
Other
Comprehensive
Income (Loss)

  

  

 Treasury
Stock

  

  

 Total
Stockholders'
Equity

  

 

 
 January 1, 2025

  

 293.7

  

  

  

 (47.8

 )

  

 $

 293.7

  

  

 $

 563.1

  

  

 $

 6,319.7

  

  

 $

 (30.9

 )

  

 $

 (2,784.8

 )

  

 $

 4,360.8

  

 

 
 Net income

  

 0.0

  

  

  

 0.0

  

  

  

 0.0

  

  

  

 0.0

  

  

  

 220.1

  

  

  

 0.0

  

  

  

 0.0

  

  

  

 220.1

  

 

 
 Other comprehensive
   income

  

 0.0

  

  

  

 0.0

  

  

  

 0.0

  

  

  

 0.0

  

  

  

 0.0

  

  

  

 4.8

  

  

  

 0.0

  

  

  

 4.8

  

 

 
 Cash dividends

  

 0.0

  

  

  

 0.0

  

  

  

 0.0

  

  

  

 0.0

  

  

  

 (72.4

 )

  

  

 0.0

  

  

  

 0.0

  

  

  

 (72.4

 )

 

 
 Stock based compensation expense and 
    stock option plan transactions

  

 0.0

  

  

  

 0.3

  

  

  

 0.0

  

  

  

 27.2

  

  

  

 (0.2

 )

  

  

 0.0

  

  

  

 10.7

  

  

  

 37.7

  

 

 
 March 31, 2025

  

 293.7

  

  

  

 (47.5

 )

  

 $

 293.7

  

  

 $

 590.3

  

  

 $

 6,467.2

  

  

 $

 (26.1

 )

  

 $

 (2,774.1

 )

  

 $

 4,551.0

  

 

 
  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

 

 
 Net income

  

 0.0

  

  

  

 0.0

  

  

  

 0.0

  

  

  

 0.0

  

  

  

 191.0

  

  

  

 0.0

  

  

  

 0.0

  

  

  

 191.0

  

 

 
 Other comprehensive
   income

  

 0.0

  

  

  

 0.0

  

  

  

 0.0

  

  

  

 0.0

  

  

  

 0.0

  

  

  

 7.7

  

  

  

 0.0

  

  

  

 7.7

  

 

 
 Cash dividends

  

 0.0

  

  

  

 0.0

  

  

  

 0.0

  

  

  

 0.0

  

  

  

 (72.6

 )

  

  

 0.0

  

  

  

 0.0

  

  

  

 (72.6

 )

 

 
 Stock purchases

  

 0.0

  

  

  

 (2.8

 )

  

  

 0.0

  

  

  

 (30.0

 )

  

  

 0.0

  

  

  

 0.0

  

  

  

 (270.0

 )

  

  

 (300.0

 )

 

 
 Stock based compensation expense and 
    stock option plan transactions

  

 0.0

  

  

  

 0.1

  

  

  

 0.0

  

  

  

 12.2

  

  

  

 (0.2

 )

  

  

 0.0

  

  

  

 4.6

  

  

  

 16.6

  

 

 
 June 30, 2025

  

 293.7

  

  

  

 (50.2

 )

  

 $

 293.7

  

  

 $

 572.5

  

  

 $

 6,585.4

  

  

 $

 (18.4

 )

  

 $

 (3,039.5

 )

  

 $

 4,393.7

  

 

 
  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

 

 
  

 Number of Shares

  

  

 Amounts

  

 

 
  

 Common
Stock

  

  

 Treasury
Stock

  

  

 Common
Stock

  

  

 Additional
Paid-In
Capital

  

  

 Retained
Earnings

  

  

 Accumulated
Other
Comprehensive
Income (Loss)

  

  

 Treasury
Stock

  

  

 Total
Stockholders'
Equity

  

 

 
 January 1, 2026

  

 293.7

  

  

  

 (57.2

 )

  

 $

 293.7

  

  

 $

 625.1

  

  

 $

 6,768.2

  

  

 $

 (19.9

 )

  

 $

 (3,664.9

 )

  

 $

 4,002.2

  

 

 
 Net income

  

 0.0

  

  

  

 0.0

  

  

  

 0.0

  

  

  

 0.0

  

  

  

 216.3

  

  

  

 0.0

  

  

  

 0.0

  

  

  

 216.3

  

 

 
 Other comprehensive
   income

  

 0.0

  

  

  

 0.0

  

  

  

 0.0

  

  

  

 0.0

  

  

  

 0.0

  

  

  

 3.3

  

  

  

 0.0

  

  

  

 3.3

  

 

 
 Cash dividends

  

 0.0

  

  

  

 0.0

  

  

  

 0.0

  

  

  

 0.0

  

  

  

 (72.9

 )

  

  

 0.0

  

  

  

 0.0

  

  

  

 (72.9

 )

 

 
 Stock based compensation expense and 
    stock option plan transactions

  

 0.0

  

  

  

 0.4

  

  

  

 0.0

  

  

  

 29.0

  

  

  

 (0.1

 )

  

  

 0.0

  

  

  

 8.2

  

  

  

 37.1

  

 

 
 March 31, 2026

  

 293.7

  

  

  

 (56.8

 )

  

 $

 293.7

  

  

 $

 654.1

  

  

 $

 6,911.5

  

  

 $

 (16.6

 )

  

 $

 (3,656.7

 )

  

 $

 4,186.0

  

 

 
  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

 

 
 Net income

  

 0.0

  

  

  

 0.0

  

  

  

 0.0

  

  

  

 0.0

  

  

  

 202.8

  

  

  

 0.0

  

  

  

 0.0

  

  

  

 202.8

  

 

 
 Other comprehensive
   income

  

 0.0

  

  

  

 0.0

  

  

  

 0.0

  

  

  

 0.0

  

  

  

 0.0

  

  

  

 2.1

  

  

  

 0.0

  

  

  

 2.1

  

 

 
 Cash dividends

  

 0.0

  

  

  

 0.0

  

  

  

 0.0

  

  

  

 0.0

  

  

  

 (72.9

 )

  

  

 0.0

  

  

  

 0.0

  

  

  

 (72.9

 )

 

 
 Stock based compensation expense and 
    stock option plan transactions

  

 0.0

  

  

  

 0.2

  

  

  

 0.0

  

  

  

 22.8

  

  

  

 (1.1

 )

  

  

 0.0

  

  

  

 8.1

  

  

  

 29.8

  

 

 
 June 30, 2026

  

 293.7

  

  

  

 (56.6

 )

  

 $

 293.7

  

  

 $

 676.9

  

  

 $

 7,040.3

  

  

 $

 (14.5

 )

  

 $

 (3,648.6

 )

  

 $

 4,347.8

  

 

  
 
See Notes to Condensed Consolidated Financial Statements (Unaudited).

 

 7

 
  

 CHURCH & DWIGHT CO., INC. AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)
(In millions, except per share data)
 
1.Basis of Presentation 

These condensed consolidated financial statements have been prepared by Church & Dwight Co., Inc. (the “Company”). In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position and results of operations and cash flows for all periods presented have been made. Results of operations for interim periods may not be representative of results expected for the full year.
Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles (“GAAP”) in the United States have been condensed or omitted. These condensed consolidated financial statements should be read in conjunction with the financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 (the “Form 10-K”). 
The Company incurred research and development expenses in the second quarter of 2026 and 2025 of $33.9 and $35.8, respectively. The Company incurred research and development expenses in the first six months of 2026 and 2025 of $65.5 and $68.6, respectively. These expenses are included in selling, general and administrative (“SG&A”) expenses.

 
2.New Accounting Pronouncements 

 
Recent Accounting Pronouncements Not Yet Adopted
In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses ("ASU 2024-03") and in January 2025, the FASB issued ASU 2025-01, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Clarifying the Effective Date ("ASU 2025-01"). ASU 2024-03 requires a public business entity to provide disaggregated disclosures of certain categories of expenses on an annual and interim basis including purchases of inventory, employee compensation, depreciation, and intangible asset amortization for each income statement line item that contains those expenses. ASU 2024-03, as clarified by ASU 2025-01, is effective for annual reporting periods beginning after December 15, 2026, and interim periods beginning after December 15, 2027, with prospective or retrospective application permitted. The Company is currently evaluating the impact of adoption on the Company’s related disclosures. 

There have been no other accounting pronouncements issued but not yet adopted by the Company which are expected to have a material impact on the Company’s consolidated financial position, results of operations or cash flows. 
 
3.Inventories 

Inventories consist of the following: 

 
 
 
 
 
 
 
 
 
 
 

 
  

 June 30,

  

  

 December 31,

  

 

 
  

 2026

  

  

 2025

  

 

 
 Raw materials and supplies

 $

 130.3

  

  

 $

 143.7

  

 

 
 Work in process

  

 22.5

  

  

  

 35.0

  

 

 
 Finished goods

  

 449.1

  

  

  

 356.1

  

 

 
 Total

 $

 601.9

  

  

 $

 534.8

  

 

  

 8

 
  

  
4.Property, Plant and Equipment, Net (“PP&E”) 

PP&E consists of the following:

 
 
 
 
 
 
 
 
 
 
 

 
  

 June 30,

  

  

 December 31,

  

 

 
  

 2026

  

  

 2025

  

 

 
 Land

 $

 29.7

  

  

 $

 16.0

  

 

 
 Buildings and improvements

  

 355.2

  

  

  

 367.5

  

 

 
 Machinery and equipment

  

 914.7

  

  

  

 911.1

  

 

 
 Software

  

 140.2

  

  

  

 138.9

  

 

 
 Office equipment and other assets

  

 132.7

  

  

  

 131.6

  

 

 
 Construction in progress

  

 166.9

  

  

  

 131.9

  

 

 
 Gross PP&E

  

 1,739.4

  

  

  

 1,697.0

  

 

 
 Less accumulated depreciation

  

 912.9

  

  

  

 874.2

  

 

 
 Net PP&E

 $

 826.5

  

  

 $

 822.8

  

 

  

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 
  

 Three Months Ended

  

  

 Six Months Ended

  

 

 
  

 June 30,

  

  

 June 30,

  

  

 June 30,

  

  

 June 30,

  

 

 
  

 2026

  

  

 2025

  

  

 2026

  

  

 2025

  

 

 
 Depreciation expense on PP&E

 $

 22.0

  

  

 $

 22.5

  

  

 $

 43.6

  

  

 $

 45.1

  

 

 

 
 
5.Earnings Per Share (“EPS”) 

Basic EPS is calculated based on income available to holders of the Company’s common stock (“Common Stock”) and the weighted average number of shares outstanding during the reported period. Diluted EPS includes additional dilution from potential Common Stock issuable pursuant to the Company's stock-based compensation plans. 
The following table sets forth a reconciliation of the weighted average number of shares of Common Stock outstanding to the weighted average number of shares outstanding on a diluted basis: 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 
  

 Three Months Ended

  

  

 Six Months Ended

  

 

 
  

 June 30,

  

  

 June 30,

  

  

 June 30,

  

  

 June 30,

  

 

 
  

 2026

  

  

 2025

  

  

 2026

  

  

 2025

  

 

 
 Weighted average common shares outstanding - basic

  

 236.7

  

  

  

 244.7

  

  

  

 236.6

  

  

  

 245.2

  

 

 
 Dilutive effect of stock awards

  

 1.5

  

  

  

 1.7

  

  

  

 1.6

  

  

  

 2.0

  

 

 
 Weighted average common shares outstanding - diluted

  

 238.2

  

  

  

 246.4

  

  

  

 238.2

  

  

  

 247.2

  

 

 
 Antidilutive stock awards outstanding

  

 3.1

  

  

  

 2.1

  

  

  

 3.1

  

  

  

 2.1

  

 

  

6.Stock Based Compensation Plans 

The Company's Long-Term Incentive Program (“LTIP”) provides employees with an award of stock options and grants of restricted stock units (“RSUs”), and grants of performance share units ("PSUs"). Awards are granted in the first quarter of each year. The Company recognizes the grant-date fair value for each of these awards, less estimated forfeitures, as compensation expense ratably over the vesting period. For employees and directors that meet retirement eligibility requirements, the expense related to share-based compensation is recognized on the date of grant as there is no future service period required for the awards to vest.
 

 9

 
  

 Stock Options
The following table provides a summary of option activity: 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 
  

  

  

  

  

  

  

 Weighted

  

  

  

  

 

 
  

  

  

  

  

  

  

 Average

  

  

  

  

 

 
  

  

  

  

 Weighted

  

  

 Remaining

  

  

  

  

 

 
  

  

  

  

 Average

  

  

 Contractual

  

  

 Aggregate

  

 

 
  

  

  

  

 Exercise Price

  

  

 Term

  

  

 Intrinsic

  

 

 
  

 Options

  

  

 (per share)

  

  

 (in Years)

  

  

 Value

  

 

 
 Outstanding at December 31, 2025

  

 8.8

  

  

 $

 81.83

  

  

  

  

  

  

  

 

 
 Granted

  

 0.9

  

  

  

 103.52

  

  

  

  

  

  

  

 

 
 Exercised

  

 (0.4

 )

  

  

 62.08

  

  

  

  

  

  

  

 

 
 Outstanding at June 30, 2026

  

 9.3

  

  

 $

 84.63

  

  

  

 5.7

  

  

 $

 135.7

  

 

 
 Exercisable at June 30, 2026

  

 6.4

  

  

 $

 75.83

  

  

  

 4.4

  

  

 $

 135.2

  

 

 
 
The following table provides information regarding the intrinsic value of stock options exercised and stock compen