Cover
Cover | 12 Months Ended |
Dec. 31, 2022 | |
Document Information [Line Items] | |
Document Type | DEF 14A |
Amendment Flag | false |
Entity Information [Line Items] | |
Entity Registrant Name | Church & Dwight Co., Inc. |
Entity Central Index Key | 0000313927 |
Pay vs Performance Disclosure
Pay vs Performance Disclosure | 12 Months Ended | ||
Dec. 31, 2022 USD ($) $ / shares | Dec. 31, 2021 USD ($) $ / shares | Dec. 31, 2020 USD ($) $ / shares | |
Pay vs Performance Disclosure [Table] | |||
Pay vs Performance [Table Text Block] | PAY VERSUS PERFORMAN C E As required under the SEC pay versus performance rules adopted under the Dodd-Frank Act (“PvP Rules”), we are providing the following information about the relationship between “compensation actually paid” to our CEO (referred to below as our principal executive officer or PEO) and average “compensation actually paid” to our named executive officers (“NEOs”) and certain financial performance of the Company for the last three years, in each case, calculated in a manner consistent with PvP Rules. For further information concerning the Company’s variable pay-for-performance PAY VERSUS PERFORMANCE Year (a) Summary (b) Compensation (1) (c) Average Non-PEO (2) (d) Average Non-PEO (1) (2) (e) Value of Initial Fixed $100 Net (3) (h) Company- (4) (i) Total (f) Peer Group (g) 2022 $ 8,375,361 -$ 4,251,271 $ 1,673,157 $ 231,629 $ 119 $ 126 $ 414 $ 1.72 2021 $ 8,889,526 $ 26,421,358 $ 1,743,820 ( 5 $ 3,270,073 ( 5 $ 149 $ 133 $ 828 $ 3.04 2020 $ 9,902,703 $ 22,777,595 $ 2,018,372 $ 3,794,101 $ 125 $ 116 $ 786 $ 2.85 (1) The dollar amounts reported in columns (c) and (e) represent the amount of “compensation actually paid” (“CAP”) to Mr. Farrell, and to our NEOs other than Mr. Farrell, respectively. The dollar amounts do not reflect the actual amount of compensation earned by or paid to our NEOs during the applicable year. In accordance with the PvP Rules, the following adjustments were made to the “Total” amount of compensation reported on the Summary Compensation Table (“SCT”): PEO SCT Total to CAP Reconciliation Year Salary Bonus and Non-Equity All Other (i) SCT Total Deductions (ii) Additions from SCT Total (iii) CAP 2022 $ 1,156,275 $ 453,600 $ 174,764 $ 8,375,361 - $ -$ 6,035,911 -$ 4,251,271 2021 $ 1,117,400 $ 1,130,800 $ 281,718 $ 8,889,526 - $ $ 23,891,440 $ 26,421,358 2020 $ 1,084,825 $ 2,195,700 $ 447,873 $ 9,902,703 - $ $ 19,049,196 $ 22,777,595 Average Non-PEO 2 SCT Total to CAP Reconciliation Year Salary Bonus and Non-Equity All Other (i) SCT Total Deductions (ii) Additions from SCT Total (iii) CAP 2022 $ 533,613 $ 117,575 $ 84,254 $ 1,673,157 -$ 937,716 -$ 503,813 $ 231,629 2021 $ 513,474 $ 285,050 $ 107,146 $ 1,743,820 -$ 838,150 $ 2,364,402 $ 3,270,073 2020 $ 501,338 $ 565,600 $ 144,288 $ 2,018,372 -$ 807,146 $ 2,582,875 $ 3,794,101 (i) Reflects “all other compensation” reported in the SCT for each year shown. (ii) Represents the grant date fair value of equity-based awards granted each year. We do not have a pension program for any of the years reflected in this table; therefore, a deduction from SCT total related to pension value is not needed. (iii) Reflects the value of equity calculated in accordance with the SEC methodology for determining CAP for each year shown. The equity component of CAP for fiscal year 2022 is further detailed in the supplemental table below: PEO Equity Component of CAP for Each Fiscal Year (FY) Year Equity Fair Value of (IV) (a) Change in Value (IV) (b) Change in Value (IV) (c) Equity Value (d) = (a) + (b) + (c) 2022 Options $ 6,985,487 -$ 4,379,219 -$ 8,642,178 -$ 6,035,911 2021 Options $ 10,985,931 -$ 1,173,880 $ 14,079,390 $ 23,891,440 2020 Options $ 7,482,445 $ 1,887,995 $ 9,678,757 $ 19,049,196 Average Non-PEO 2 Equity Component of CAP for each Fiscal Year (FY) Year Equity Fair Value of (IV) (a) Change in Value (IV) (b) Change in Value (IV) (c) Equity Value (d) = (a) + (b) + (c) 2022 Options $ 993,882 -$ 494,713 -$ 1,002,982 -$ 503,813 2021 Options $ 1,213,885 -$ 145,752 $ 1,296,270 $ 2,364,402 2020 Options $ 978,154 $ 262,936 $ 1,341,785 $ 2,582,875 (iv) The fair value of stock options reported for CAP purposes is estimated using a Black-Scholes option pricing model in accordance with the PvP Rules. This model uses both historical data and current market data to estimate the fair value of options and requires several assumptions. The assumptions used in estimating fair value for options for purposes of this table are as follows: Valuation Date 6/15/2020 12/31/2020 6/14/2021 12/31/2021 6/13/2022 12/31/2022 Expected Volatility 19.9% 20.5% 20.7% 21.0% 21.7% 22.5% Expected Life in years 7.3 7.3 7.2 7.2 7.1 7.1 Dividend Yield 1.30% 1.10% 1.19% 0.99% 1.24% 1.30% Risk-Free Interest Rate 0.50% 0.50% 1.34% 1.72% 2.93% 3.88% (2) The non-principal 2022: Richard Dierker, Patrick De Maynadier, Barry Bruno, Carlos Linares 2021: Richard Dierker, Patrick De Maynadier, Britta Bomhard, Barry Bruno 2020: Richard Dierker, Patrick De Maynadier, Britta Bomhard, Steven Cugine (3) Net Income is as reported in our Form 10-K (4) Diluted EPS, is as adjusted for purposes of calculating Diluted EPS under the “Annual Incentive Plan” and includes the following adjustments 2022: The cost of restricted stock issued for the Hero acquisition ($0.03) and impact of the discontinuation of business in Russia due to the Russia/Ukraine war ($0.01) 2021: The favorable adjustment to Flawless earnout ($0.30) and the operational and transactional cost of the Therabreath acquisition ($0.02) 2020: The favorable adjustment to Flawless earnout ($0.28), gain on sale of an international brand ($0.01) and the operational and transactional cost of the Zicam acquisition ($0.02) (5) Compensation values disproportionately declined from the prior fiscal year due to the impact of the departure of Steven Cugine and Britta Bomhard, both longer tenured NEOs, and replacement with Barry Bruno. | ||
Company Selected Measure Name | Diluted EPS | ||
Named Executive Officers, Footnote [Text Block] | (2) The non-principal 2022: Richard Dierker, Patrick De Maynadier, Barry Bruno, Carlos Linares 2021: Richard Dierker, Patrick De Maynadier, Britta Bomhard, Barry Bruno 2020: Richard Dierker, Patrick De Maynadier, Britta Bomhard, Steven Cugine | ||
PEO Total Compensation Amount | $ 8,375,361 | $ 8,889,526 | $ 9,902,703 |
PEO Actually Paid Compensation Amount | $ (4,251,271) | 26,421,358 | 22,777,595 |
Adjustment To PEO Compensation, Footnote [Text Block] | PEO SCT Total to CAP Reconciliation Year Salary Bonus and Non-Equity All Other (i) SCT Total Deductions (ii) Additions from SCT Total (iii) CAP 2022 $ 1,156,275 $ 453,600 $ 174,764 $ 8,375,361 - $ -$ 6,035,911 -$ 4,251,271 2021 $ 1,117,400 $ 1,130,800 $ 281,718 $ 8,889,526 - $ $ 23,891,440 $ 26,421,358 2020 $ 1,084,825 $ 2,195,700 $ 447,873 $ 9,902,703 - $ $ 19,049,196 $ 22,777,595 | ||
Non-PEO NEO Average Total Compensation Amount | $ 1,673,157 | 1,743,820 | 2,018,372 |
Non-PEO NEO Average Compensation Actually Paid Amount | $ 231,629 | 3,270,073 | 3,794,101 |
Adjustment to Non-PEO NEO Compensation Footnote [Text Block] | Average Non-PEO 2 SCT Total to CAP Reconciliation Year Salary Bonus and Non-Equity All Other (i) SCT Total Deductions (ii) Additions from SCT Total (iii) CAP 2022 $ 533,613 $ 117,575 $ 84,254 $ 1,673,157 -$ 937,716 -$ 503,813 $ 231,629 2021 $ 513,474 $ 285,050 $ 107,146 $ 1,743,820 -$ 838,150 $ 2,364,402 $ 3,270,073 2020 $ 501,338 $ 565,600 $ 144,288 $ 2,018,372 -$ 807,146 $ 2,582,875 $ 3,794,101 | ||
Compensation Actually Paid vs. Total Shareholder Return [Text Block] | |||
Compensation Actually Paid vs. Net Income [Text Block] | |||
Compensation Actually Paid vs. Company Selected Measure [Text Block] | |||
Total Shareholder Return Vs Peer Group [Text Block] | |||
Tabular List [Table Text Block] | Required Tabular Disclosure of Most Important Measures to Determine FY2022 CAP As described in greater detail in our Compensation Discussion and Analysis (“CD&A”) within the sections titled “Pay for Performance Alignment” and “Annual Incentive Plan”, the Company’s executive compensation program reflects a variable pay-for-performance Most Importan t Performance Measures > Net Sales > Gross Margin > Diluted EPS > Cash from Operations We believe in the importance of our stock price by delivering significant value to our stockholders and linking executive pay to our performance. Beyond the Company stock price, we believe that Diluted EPS (which is a metric used for purposes of our Annual Incentive Plan – see additional details regarding adjustments in the section titled “Compensation Discussion and Analysis – Annual Incentive Plan”) represents the most important financial performance measure (that is not otherwise required to be disclosed in the above table) linking NEO CAP to Company performance because it is indicative of our profitability and impacts our stock price, and accordingly, Diluted EPS is the “Company-Selected Measure” that is required to be disclosed in accordance with the PvP Rules. | ||
Total Shareholder Return Amount | $ 119 | 149 | 125 |
Peer Group Total Shareholder Return Amount | 126 | 133 | 116 |
Net Income (Loss) | $ 414,000,000 | $ 828,000,000 | $ 786,000,000 |
Company Selected Measure Amount | 1.72 | 3.04 | 2.85 |
PEO Name | Mr. Farrell | ||
Cost of Restricted Stock Issued (EPS) | $ / shares | $ (0.03) | ||
Favorable Adjustment to Flawless Earnout (EPS) | $ / shares | $ (0.3) | $ (0.28) | |
Gain on Sale of an International Brand (EPS) | $ / shares | $ (0.01) | ||
Measure [Axis]: 1 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Net Sales | ||
Measure [Axis]: 2 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Gross Margin | ||
Measure [Axis]: 3 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Diluted EPS | ||
Measure [Axis]: 4 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Cash from Operations | ||
PEO [Member] | Deductions from SCT [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | $ (6,590,722) | $ (6,359,608) | $ (6,174,305) |
PEO [Member] | Additions from SCT [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (6,035,911) | 23,891,440 | 19,049,196 |
PEO [Member] | Salary [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 1,156,275 | 1,117,400 | 1,084,825 |
PEO [Member] | Bonus and Non Equity Incentive Compensation [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 453,600 | 1,130,800 | 2,195,700 |
PEO [Member] | All Other Compensation [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 174,764 | 281,718 | 447,873 |
Non-PEO NEO [Member] | Deductions from SCT [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (937,716) | (838,150) | (807,146) |
Non-PEO NEO [Member] | Additions from SCT [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (503,813) | 2,364,402 | 2,582,875 |
Non-PEO NEO [Member] | Salary [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 533,613 | 513,474 | 501,338 |
Non-PEO NEO [Member] | Bonus and Non Equity Incentive Compensation [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 117,575 | 285,050 | 565,600 |
Non-PEO NEO [Member] | All Other Compensation [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | $ 84,254 | $ 107,146 | $ 144,288 |