The Clorox Company (CLX) 10-K 2007 FY Annual report

Exhibit 99.3

THE CLOROX COMPANY

RETURN ON INVESTED CAPITAL

Dollars in millions	FY07			FY06			FY05			FY04			FY03
Gross profit	$	2,091		$	1,959		$	1,895		$	1,831		$	1,815
Selling and administrative expenses		642			631			551			543			523
Advertising costs		474			450			435			420			446
Research and development costs		108			99			88			84			75
Adjusted operating profit		867			779			821			784			771
Other charges added back to adjusted operating profit(1)		23			9			15			8			4
Subtotal		890			788			836			792			775
After tax		595			529			543			516			508
Average invested capital(2)		4,037			3,965			3,898			3,819			3,658
Return on invested capital		14.7	%		13.3	%		13.9	%		13.5	%		13.9	%
change versus prior year		+140 bps			-60 bps			+40 bps			-40 bps			+140 bps

(1)	Other charges added to adjusted operating profit relate primarily to amortization expense and other smaller items included in gross profit. In addition, the current year included IT transition cost included in selling and administrative expenses.
(2)	Average invested capital includes total assets less current liabilities (excluding short-term debt) adjusted to add back cumulative historical goodwill amortization, impairment and other charges since fiscal year 1989.