secwatch.observer — SEC 8-K summary
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Issuer:     PROCTER & GAMBLE Co (PG)
CIK:        0000080424
Form:       8-K
Filed at:   2023-12-05T23:59:59+00:00
Accession:  0000080424-23-000107
Event type: other_material
Sentiment:  negative
Materiality: 0.80
Item codes: 7.01, 2.06
LLM model:  deepseek-v4-flash:cloud@v2

P&G to take $2.0-2.5B after-tax charges: restructuring ($1.0-1.5B) plus Gillette impairment ($1.0B)
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- Restructuring charges of $1.0-1.5B after-tax (mostly noncash) in FY2024/25 from exiting certain Enterprise Markets (Argentina, Nigeria).
- Initial restructuring charges expected in the quarter ending December 31, 2023.
- Noncash impairment of ~$1.3B pre-tax ($1.0B after-tax) on Gillette indefinite-lived intangible asset in Q2 FY2024.
- Impairment due to higher discount rate, currency weakness, and restructuring impact; underlying Gillette business remains strong.
- Total after-tax charges estimated at $2.0-2.5B over FY2024 and FY2025.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/80424/000008042423000107/0000080424-23-000107-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/80424/000008042423000107/emrestructureannouncemnt.htm
  HTML page:      https://secwatch.observer/filing/0000080424-23-000107

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