The Procter & Gamble Company (PG) 10-Q 23 Jan 24 2024 Q2 Quarterly report Financial data

DOCUMENT AND ENTITY INFORMATION

DOCUMENT AND ENTITY INFORMATION	6 Months Ended
	Dec. 31, 2023 shares
Entity Information [Line Items]
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Central Index Key	0000080424
Current Fiscal Year End Date	--06-30
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Incorporation, State or Country Code	OH
Entity File Number	1-434
Entity Tax Identification Number	31-0411980
Entity Address, Address Line One	One Procter & Gamble Plaza
Entity Address, City or Town	Cincinnati
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	45202
City Area Code	513
Local Phone Number	983-1100
Document Transition Report	false
Document Quarterly Report	true
Document Type	10-Q
Document Period End Date	Dec. 31, 2023
Entity Registrant Name	PROCTER & GAMBLE CO
Entity Small Business	false
Entity Interactive Data Current	Yes
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	2,353,021,054
Common Stock [Member]
Entity Information [Line Items]
Title of 12(b) Security	Common Stock, without Par Value
Trading Symbol	PG
0.500% due 2024 [Domain]
Entity Information [Line Items]
Title of 12(b) Security	0.500% Notes due 2024
Trading Symbol	PG24A
Security Exchange Name	NYSE
0.625% due 2024 [Domain]
Entity Information [Line Items]
Title of 12(b) Security	0.625% Notes due 2024
Trading Symbol	PG24B
Security Exchange Name	NYSE
1.375% due 2025 [Domain]
Entity Information [Line Items]
Title of 12(b) Security	1.375% Notes due 2025
Trading Symbol	PG25
Security Exchange Name	NYSE
0.110 due 2026 [Domain]
Entity Information [Line Items]
Title of 12(b) Security	0.110% Notes due 2026
Trading Symbol	PG26D
Security Exchange Name	NYSE
3.250% EUR Notes due 2026 [Domain]
Entity Information [Line Items]
Title of 12(b) Security	3.250% EUR Notes due 2026
Trading Symbol	PG26E
Security Exchange Name	NYSE
4.875% EUR due May 2027 [Domain]
Entity Information [Line Items]
Title of 12(b) Security	4.875% EUR notes due May 2027
Trading Symbol	PG27A
Security Exchange Name	NYSE
1.200% due 2028 [Domain]
Entity Information [Line Items]
Title of 12(b) Security	1.200% Notes due 2028
Trading Symbol	PG28
Security Exchange Name	NYSE
1.250% due 2029 [Domain]
Entity Information [Line Items]
Title of 12(b) Security	1.250% Notes due 2029
Trading Symbol	PG29B
Security Exchange Name	NYSE
1.800% due 2029 [Domain]
Entity Information [Line Items]
Title of 12(b) Security	1.800% Notes due 2029
Trading Symbol	PG29A
Security Exchange Name	NYSE
6.250% GBP due January 2030 [Domain]
Entity Information [Line Items]
Title of 12(b) Security	6.250% GBP notes due January 2030
Trading Symbol	PG30
Security Exchange Name	NYSE
0.350% due 2030 [Domain]
Entity Information [Line Items]
Title of 12(b) Security	0.350% Notes due 2030
Trading Symbol	PG30C
Security Exchange Name	NYSE
0.230% due 2031 [Domain]
Entity Information [Line Items]
Title of 12(b) Security	0.230% Notes due 2031
Trading Symbol	PG31A
Security Exchange Name	NYSE
3.250% EUR Notes Due 2031 [Domain]
Entity Information [Line Items]
Title of 12(b) Security	3.250% EUR Notes due 2031
Trading Symbol	PG31B
Security Exchange Name	NYSE
5.250% GBP due January 2033 [Domain]
Entity Information [Line Items]
Title of 12(b) Security	5.250% GBP notes due January 2033
Trading Symbol	PG33
Security Exchange Name	NYSE
1.875% due 2038 [Domain]
Entity Information [Line Items]
Title of 12(b) Security	1.875% Notes due 2038
Trading Symbol	PG38
Security Exchange Name	NYSE
0.900% due 2041 [Domain]
Entity Information [Line Items]
Title of 12(b) Security	0.900% Notes due 2041
Trading Symbol	PG41
Security Exchange Name	NYSE
NEW YORK STOCK EXCHANGE, INC. [Member] | Common Stock [Member]
Entity Information [Line Items]
Security Exchange Name	NYSE

CONSOLIDATED STATEMENTS OF EARN

CONSOLIDATED STATEMENTS OF EARNINGS - USD ($) $ in Millions		3 Months Ended				6 Months Ended
		Dec. 31, 2023		Dec. 31, 2022		Dec. 31, 2023	Dec. 31, 2022
Net Sales		$ 21,441		$ 20,773		$ 43,312	$ 41,385
Cost of Products Sold		10,144		10,897		20,645	21,743
Selling, General and Administrative Expense		5,522		5,091		11,127	9,918
Impairment of Intangible Assets for Grooming Segment, Indefinite-Lived (Excluding Goodwill)		1,341		0		1,341	0
Operating Income		4,433		4,785		10,200	9,724
Interest Expense		(248)		(171)		(472)	(294)
Interest Income		133		66		262	108
Other Non-operating Income/(Loss), Net		177		155		309	294
Earnings/(Loss) from Continuing Operations Before Income Taxes		4,496		4,835		10,299	9,832
Income Taxes on Continuing Operations		1,003		876		2,250	1,910
Net Earnings		3,493		3,959		8,049	7,922
Net Income (Loss) Attributable to Noncontrolling Interest		25		26		60	50
Net Income (Loss) Attributable to Parent		$ 3,468		$ 3,933		$ 7,988	$ 7,872
Basic Net Earnings Per Common Share
Basic Net Earnings/(Loss) Per Common Share	[1]	$ 1.44	[2]	$ 1.63	[2]	$ 3.33	$ 3.25
Diluted Net Earnings Per Common Share
Diluted Net Earnings/(Loss) Per Common Share	[1]	$ 1.40	[2]	$ 1.59	[2]	$ 3.23	$ 3.16
[1] Basic net earnings per common share and Diluted net earnings per common share are calculated on Net earnings attributable to Procter & Gamble. Basic net earnings per common share and Diluted net earnings per common share are calculated on Net earnings attributable to Procter & Gamble.

CONDOLIDATED STATEMENTS OF COMP

CONDOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Net Earnings	$ 3,493	$ 3,959	$ 8,049	$ 7,922
Foreign Currency Translation	492	379	83	(333)
Unrealized Gains/(Losses) on Investment Securities	(1)	(1)	(2)	(3)
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax	(75)	(76)	(30)	11
Total Other Comprehensive Income (Loss), Net of Tax	416	302	51	(325)
Total Comprehensive Income/(Loss)	3,909	4,261	8,100	7,597
Less: Total Comprehensive Income Attributable to Noncontrolling Interest	25	23	58	42
Total Comprehensive Income/(Loss) Attributable to Procter & Gamble	$ 3,884	$ 4,238	$ 8,041	$ 7,555

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) shares in Millions, $ in Millions	Dec. 31, 2023	Jun. 30, 2023
Current Assets
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$ 7,890	$ 8,246
Accounts Receivable	6,334	5,471
Inventories
Materials and Supplies	1,780	1,863
Work in Process	962	956
Finished Goods	4,410	4,254
Total Inventories	7,151	7,073
Prepaid Expenses and Other Current Assets	1,736	1,858
Total Current Assets	23,111	22,648
Property, Plant and Equipment, Net	22,132	21,909
Goodwill	40,916	40,659
Trademarks and Other Intangible Assets, Net	22,302	23,783
Other Noncurrent Assets	12,248	11,830
Total Assets	120,709	120,829
Current Liabilities
Accounts Payable	14,234	14,598
Accrued and Other Liabilities	11,100	10,929
Debt Due Within One Year	10,616	10,229
Total Current Liabilities	35,950	35,756
Long-Term Debt	23,096	24,378
Deferred Income Tax Liabilities, Net	6,219	6,478
Other Noncurrent Liabilities	6,614	7,152
Total Liabilities	71,880	73,764
Shareholders' Equity
Preferred Stock	$ 809	$ 819
Common Stock, Shares, Issued	4,009.2	4,009.2
Common Stock, Value, Issued	$ 4,009	$ 4,009
Additional Paid in Capital	66,935	66,556
Reserve For ESOP Debt Retirement	(782)	(821)
Accumulated Other Comprehensive Income/(Loss)	(12,167)	(12,220)
Treasury Stock	(131,887)	(129,736)
Retained Earnings	121,617	118,170
Noncontrolling Interest	294	288
Total Shareholders' Equity	48,829	47,065
Total Liabilities and Shareholders' Equity	$ 120,709	$ 120,829

CONSOLIDATED STATEMENTS OF SHAR

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Millions	Total	Common Stock [Member]	Preferred Stock [Member]	Additional Paid-in Capital [Member]	Reserve for ESOP Debt Retirement [Member]	AOCI Attributable to Parent [Member]	Treasury Stock, Common	Retained Earnings [Member]	Noncontrolling Interest [Member]
Common Stock, Shares, Outstanding, Beginning Balance at Jun. 30, 2022		2,393,877
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Jun. 30, 2022	$ 46,854	$ 4,009	$ 843	$ 65,795	$ (916)	$ (12,189)	$ (123,382)	$ 112,429	$ 265
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Earnings	7,922							7,872	50
Other Comprehensive Income (Loss), Net of Tax	$ (325)					(317)			(8)
Common Stock, Dividends, Per Share, Cash Paid	$ 1.8266
Dividends, Common Stock	$ (4,357)							(4,357)
Dividends, Preferred Stock	(141)							(141)
Stock Repurchased During Period, Shares		(42,615)
Stock Repurchased During Period, Value	(6,002)						(6,002)
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture		6,452
Proceeds, Issuance of Shares, Share-based Payment Arrangement, Including Option Exercised	710			348			362
Stock Issued During Period, Shares, Conversion of Convertible Securities		1,430
Stock Issued During Period, Value, Conversion of Convertible Securities	0		12	2			10
ESOP Debt Impacts	101				46			55
Noncontrolling Interest, Period Increase (Decrease)	(37)			0					(37)
Common Stock, Shares, Outstanding, Ending Balance at Dec. 31, 2022		2,359,144
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Dec. 31, 2022	44,725	$ 4,009	831	66,145	(870)	(12,506)	(129,012)	115,858	270
Common Stock, Shares, Outstanding, Beginning Balance at Sep. 30, 2022		2,369,697
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Sep. 30, 2022	44,334	$ 4,009	834	65,955	(870)	(12,811)	(127,205)	114,163	259
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Earnings	3,959							3,933	26
Other Comprehensive Income (Loss), Net of Tax	$ 302					305			(3)
Common Stock, Dividends, Per Share, Cash Paid	$ 0.9133
Dividends, Common Stock	$ (2,168)							(2,168)
Dividends, Preferred Stock	(70)							(70)
Stock Repurchased During Period, Shares		(14,426)
Stock Repurchased During Period, Value	(2,002)						(2,002)
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture		3,441
Proceeds, Issuance of Shares, Share-based Payment Arrangement, Including Option Exercised	382			189			193
Stock Issued During Period, Shares, Conversion of Convertible Securities		432
Stock Issued During Period, Value, Conversion of Convertible Securities	0		3	1			2
ESOP Debt Impacts	0				0			0
Noncontrolling Interest, Period Increase (Decrease)	(12)			0					(12)
Common Stock, Shares, Outstanding, Ending Balance at Dec. 31, 2022		2,359,144
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Dec. 31, 2022	44,725	$ 4,009	831	66,145	(870)	(12,506)	(129,012)	115,858	270
Common Stock, Shares, Outstanding, Beginning Balance at Jun. 30, 2023		2,362,120
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Jun. 30, 2023	47,065	$ 4,009	819	66,556	(821)	(12,220)	(129,736)	118,170	288
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Earnings	8,049							7,988	60
Other Comprehensive Income (Loss), Net of Tax	$ 51					53			(2)
Common Stock, Dividends, Per Share, Cash Paid	$ 1.8814
Dividends, Common Stock	$ (4,450)							(4,450)
Dividends, Preferred Stock	(140)							(140)
Stock Repurchased During Period, Shares		(16,722)
Stock Repurchased During Period, Value	(2,516)						(2,516)
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture		6,351
Proceeds, Issuance of Shares, Share-based Payment Arrangement, Including Option Exercised	734			378			356
Stock Issued During Period, Shares, Conversion of Convertible Securities		1,273
Stock Issued During Period, Value, Conversion of Convertible Securities	0		10	1			9
ESOP Debt Impacts	87				39			48
Noncontrolling Interest, Period Increase (Decrease)	(52)			0					(52)
Common Stock, Shares, Outstanding, Ending Balance at Dec. 31, 2023		2,353,021
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Dec. 31, 2023	48,829	$ 4,009	809	66,935	(782)	(12,167)	(131,887)	121,617	294
Common Stock, Shares, Outstanding, Beginning Balance at Sep. 30, 2023		2,356,886
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Sep. 30, 2023	48,014	$ 4,009	812	66,822	(782)	(12,583)	(131,029)	120,443	321
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Earnings	3,493							3,468	25
Other Comprehensive Income (Loss), Net of Tax	$ 416					416			0
Common Stock, Dividends, Per Share, Cash Paid	$ 0.9407
Dividends, Common Stock	$ (2,225)							(2,225)
Dividends, Preferred Stock	(70)							(70)
Stock Repurchased During Period, Shares		(6,879)
Stock Repurchased During Period, Value	(1,008)						(1,008)
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture		2,630
Proceeds, Issuance of Shares, Share-based Payment Arrangement, Including Option Exercised	260			113			147
Stock Issued During Period, Shares, Conversion of Convertible Securities		385
Stock Issued During Period, Value, Conversion of Convertible Securities	0		3	0			3
ESOP Debt Impacts	0				0			0
Noncontrolling Interest, Period Increase (Decrease)	(52)			0					(52)
Common Stock, Shares, Outstanding, Ending Balance at Dec. 31, 2023		2,353,021
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Dec. 31, 2023	$ 48,829	$ 4,009	$ 809	$ 66,935	$ (782)	$ (12,167)	$ (131,887)	$ 121,617	$ 294

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Statement of Cash Flows [Abstract]
Cash, Cash Equivalent and Restricted Cash Beginning of Period	$ 8,246	$ 7,214
Operating Activities
Net Earnings	8,049	7,922
Depreciation and Amortization	1,423	1,316
Share-based Compensation Expense	275	250
Deferred Income Taxes	(154)	(398)
Gain (Loss) on Disposition of Assets	(3)	(3)
Impairment of Intangible Assets for Grooming Segment, Indefinite-Lived (Excluding Goodwill)	1,341	0
Changes In:
Accounts Receivable	(839)	(654)
Inventories	(32)	(655)
Accounts Payable, Accrued and Other Liabilities	302	177
Other Operating Assets and Liabilities	(704)	(535)
Other Noncash Expense	346	224
Total Operating Activities	10,004	7,644
Investing Activities
Payments to Acquire Property, Plant, and Equipment	(1,742)	(1,598)
Proceeds from Asset Sales	8	8
Payments for (Proceeds from) Businesses and Interest in Affiliates	0	(76)
Payments for (Proceeds from) Investments	(489)	344
Total Investing Activites	(2,224)	(1,322)
Financing Activities
Dividends to Shareholders	(4,578)	(4,486)
Proceeds from Short-term Debt, Maturing in More than Three Months	2,798	10,447
Repayments of Short-term Debt, Maturing in More than Three Months	(5,862)	(3,260)
Change in Short-term Debt	3,740	(1,759)
Proceeds from Issuance of Long-Term Debt	254	0
Repayments of Long-term Debt	(2,335)	(1,877)
Treasury Stock Purchases	(2,503)	(6,002)
Impact of Stock Options and Other	397	437
Total Financing Activities	(8,087)	(6,500)
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	(49)	(182)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect, Total	(356)	(360)
Cash, Cash Equivalents and Restricted Cash, End of Period	$ 7,890	$ 6,854

BASIS OF PRESENTATION

BASIS OF PRESENTATION	6 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	Basis of PresentationThe accompanying unaudited Consolidated Financial Statements of The Procter & Gamble Company and subsidiaries ("the Company," "Procter & Gamble," "P&G," "we" or "our") should be read in conjunction with the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2023. We have prepared these statements in conformity with accounting principles generally accepted in the United States (U.S. GAAP) pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (SEC) for interim financial information. Note that certain columns and rows may not add due to rounding. In the opinion of management, the accompanying Consolidated Financial Statements contain all normal recurring adjustments necessary to present fairly the financial position, results of operations and cash flows for the interim periods reported. However, the results of operations included in such financial statements may not necessarily be indicative of annual results.

NEW ACCOUNTING PRONOUNCEMENTS A

NEW ACCOUNTING PRONOUNCEMENTS AND POLICIES	6 Months Ended
	Dec. 31, 2023
Accounting Changes and Error Corrections [Abstract]
Accounting Standards Update and Change in Accounting Principle	New Accounting Pronouncements and Policies In November 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2023-07, “Segment Reporting: Improvements to Reportable Segment Disclosures.” This guidance requires disclosure of incremental segment information on an annual and interim basis. This amendment is effective for our fiscal year ending June 30, 2025 and our interim periods within the fiscal year ending June 30, 2026. We are currently assessing the impact of this guidance on our disclosures. In December 2023, the FASB issued ASU No. 2023-09, “Income Taxes: Improvements to Income Tax Disclosures.” This guidance requires consistent categories and greater disaggregation of information in the rate reconciliation and disclosures of income taxes paid by jurisdiction. This amendment is effective for our fiscal year ending June 30, 2026. We are currently assessing the impact of this guidance on our disclosures. No other new accounting pronouncement issued or effective during the fiscal year had, or is expected to have, a material impact on our Consolidated Financial Statements.

SEGMENT INFORMATION

SEGMENT INFORMATION	6 Months Ended
	Dec. 31, 2023
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	Segment Information Under U.S. GAAP, our operating segments are aggregated into five reportable segments: 1) Beauty, 2) Grooming, 3) Health Care, 4) Fabric & Home Care and 5) Baby, Feminine & Family Care. Our five reportable segments are comprised of: • Beauty : Hair Care (Conditioners, Shampoos, Styling Aids, Treatments); Skin and Personal Care (Antiperspirants and Deodorants, Personal Cleansing, Skin Care); • Grooming : Grooming (Appliances, Female Blades & Razors, Male Blades & Razors, Pre- and Post-Shave Products, Other Grooming); • Health Care : Oral Care (Toothbrushes, Toothpaste, Other Oral Care); Personal Health Care (Gastrointestinal, Pain Relief, Rapid Diagnostics, Respiratory, Vitamins/Minerals/Supplements, Other Personal Health Care); • Fabric & Home Care : Fabric Care (Fabric Enhancers, Laundry Additives, Laundry Detergents); Home Care (Air Care, Dish Care, P&G Professional, Surface Care); and • Baby, Feminine & Family Care : Baby Care (Baby Wipes, Taped Diapers and Pants); Feminine Care (Adult Incontinence, Feminine Care); Family Care (Paper Towels, Tissues, Toilet Paper). Our operating segments are comprised of similar product categories. Operating segments that individually accounted for 5% or more of consolidated net sales are as follows: % of Net sales by operating segment (1) Three Months Ended December 31 Six Months Ended December 31 2023 2022 2023 2022 Fabric Care 23 % 23 % 23 % 23 % Home Care 12 % 11 % 12 % 11 % Baby Care 9 % 10 % 10 % 10 % Hair Care 9 % 8 % 9 % 9 % Skin and Personal Care 9 % 10 % 9 % 10 % Family Care 9 % 8 % 8 % 8 % Oral Care 9 % 8 % 8 % 8 % Grooming 8 % 8 % 8 % 8 % Personal Health Care 6 % 7 % 7 % 6 % Feminine Care 6 % 7 % 6 % 7 % Total 100 % 100 % 100 % 100 % (1) % of Net sales by operating segment excludes sales recorded in Corporate. The following is a summary of reportable segment results: Three Months Ended December 31 Six Months Ended December 31 Net Sales Earnings/(Loss) Before Income Taxes Net Earnings/(Loss) Net Sales Earnings/(Loss) Before Income Taxes Net Earnings/(Loss) Beauty 2023 $ 3,849 $ 1,112 $ 868 $ 7,946 $ 2,361 $ 1,839 2022 3,807 1,145 911 7,768 2,416 1,922 Grooming 2023 1,734 538 440 3,458 1,071 862 2022 1,643 496 404 3,268 999 808 Health Care 2023 3,172 932 719 6,245 1,821 1,408 2022 3,051 887 686 5,808 1,687 1,303 Fabric & Home Care 2023 7,415 2,018 1,577 15,061 4,049 3,146 2022 7,032 1,538 1,171 14,114 3,081 2,343 Baby, Feminine & Family Care 2023 5,146 1,437 1,102 10,332 2,845 2,177 2022 5,065 1,112 848 9,999 2,167 1,653 Corporate 2023 126 (1,541) (1,214) 270 (1,849) (1,383) 2022 175 (343) (61) 428 (518) (107) Total Company 2023 $ 21,441 $ 4,496 $ 3,493 $ 43,312 $ 10,299 $ 8,049 2022 20,773 4,835 3,959 41,385 9,832 7,922

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS	6 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets Disclosure [Text Block]	Goodwill and Intangible Assets Goodwill is allocated by reportable segment as follows: Beauty Grooming Health Care Fabric & Home Care Baby, Feminine & Family Care Total Company Goodwill at June 30, 2023 $ 13,888 $ 12,703 $ 7,718 $ 1,821 $ 4,529 $ 40,659 Acquisitions and divestitures — — — — — — Translation and other 99 71 56 6 25 257 Goodwill at December 31, 2023 $ 13,987 $ 12,774 $ 7,774 $ 1,827 $ 4,554 $ 40,916 Goodwill increased from June 30, 2023, due to currency translation. Identifiable intangible assets at December 31, 2023, were comprised of: Gross Carrying Amount Accumulated Amortization Intangible assets with determinable lives $ 9,071 $ (6,444) Intangible assets with indefinite lives 19,675 — Total identifiable intangible assets $ 28,746 $ (6,444) Intangible assets with determinable lives consist of brands, patents, technology and customer relationships. The intangible assets with indefinite lives primarily consist of brands. The amortization expense of determinable-lived intangible assets for the three months ended December 31, 2023 and 2022, was $84 and $79, respectively. For the six months ended December 31, 2023 and 2022, amortization expense was $171 and $159, respectively. Goodwill and indefinite-lived intangible assets are not amortized but are tested at least annually for impairment. We use the income method to estimate the fair value of these assets, which is based on forecasts of the expected future cash flows attributable to the respective assets. When appropriate, the market approach, which leverages comparable company revenue and earnings multiples, is weighted with the income approach to estimate fair value. If the resulting fair value is less than the asset's carrying value, that difference represents an impairment. Our annual impairment testing for goodwill and indefinite-lived intangible assets occurs during the three months ended December 31. Most of our goodwill reporting units have fair value cushions that significantly exceed their underlying carrying values. During the three months ended December 31, 2023, we determined that the fair value of the Gillette indefinite-lived intangible asset was less than its carrying amount. As a result, we recorded a non-cash impairment charge of $1.3 billion ($1.0 billion after tax) to reduce the carrying amount to its estimated fair value during the quarter ended December 31, 2023. Following the impairment charge, the carrying value of the Gillette indefinite-lived intangible asset is $12.8 billion. The impairment charge arose due to a higher discount rate, weakening of several currencies relative to the U.S. dollar and the impact of a new restructuring program focused primarily in certain Enterprise Markets, including Argentina and Nigeria. Adverse changes in the business or in the macroeconomic environment, including foreign currency devaluation, increasing global inflation, market contraction from an economic recession and the Russia-Ukraine War, could reduce the underlying cash flows used to estimate the fair value of the Gillette indefinite-lived intangible asset and trigger a further impairment charge. Further reduction of the Gillette business activities in Russia could reduce the estimated fair value. The Russia business accounted for approximately 4% of Gillette net sales in the fiscal year ended June 30, 2023. The most significant assumptions utilized in the determination of the estimated fair value of the Gillette indefinite-lived intangible asset are the net sales growth rates (including residual growth rates), discount rate and royalty rates. Net sales growth rates could be negatively impacted by reductions or changes in demand for our Gillette products, which may be caused by, among other things: changes in the use and frequency of grooming products, shifts in demand away from one or more of our higher priced products to lower priced products or potential supply chain constraints. In addition, relative global and country/regional macroeconomic factors, including the Russia-Ukraine War, could result in additional and prolonged devaluation of other countries' currencies relative to the U.S. dollar. The residual growth rates represent the expected rate at which the Gillette brand is expected to grow beyond the shorter-term business planning period. The residual growth rates utilized in our fair value estimates are consistent with the brand operating plans and approximate expected long-term category market growth rates. The residual growth rate depends on overall market growth rates, the competitive environment, inflation, relative currency exchange rates and business activities that impact market share. As a result, the residual growth rate could be adversely impacted by a sustained deceleration in category growth, grooming habit changes, devaluation of currencies against the U.S. dollar or an increased competitive environment. The discount rate, which is consistent with a weighted average cost of capital that is likely to be expected by a market participant, is based upon industry required rates of return, including consideration of both debt and equity components of the capital structure. Our discount rate may be impacted by adverse changes in the macroeconomic environment, volatility in the equity and debt markets or other country specific factors, such as further devaluation of currencies against the U.S. dollar. Spot rates as of the fair value measurement date are utilized in our fair value estimates for cash flows outside the U.S. The royalty rate used to determine the estimated fair value for the Gillette indefinite-lived intangible asset is driven by historical and estimated future profitability of the underlying Gillette business. The royalty rate may be impacted by significant adverse changes in long-term operating margins. We performed a sensitivity analysis for the Gillette indefinite-lived intangible asset as part of our annual impairment testing during the three months ended December 31, 2023, utilizing reasonably possible changes in the assumptions for the discount rate, the short-term and residual growth rates and the royalty rate to demonstrate the potential impacts to estimated fair values. The table below provides, in isolation, the estimated fair value impacts related to a 25 basis-point increase in the discount rate, a 25 basis-point decrease in our short-term and residual growth rates or a 50 basis-point decrease in our royalty rate, which may result in an additional impairment of the Gillette indefinite-lived intangible asset. Approximate Percent Change in Estimated Fair Value +25 bps Discount Rate -25 bps Growth Rates -50 bps Royalty Rate Gillette indefinite-lived intangible asset (5) % (5) % (4) %

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]	Earnings Per Share Basic net earnings per common share are calculated by dividing Net earnings attributable to Procter & Gamble less preferred dividends by the weighted average number of common shares outstanding during the period. Diluted net earnings per common share are calculated by dividing Net earnings attributable to Procter & Gamble by the diluted weighted average number of common shares outstanding during the period. The diluted shares include the dilutive effect of stock options and other share-based awards based on the treasury stock method and the assumed conversion of preferred stock. Net earnings per common share were calculated as follows: CONSOLIDATED AMOUNTS Three Months Ended December 31 Six Months Ended December 31 2023 2022 2023 2022 Net earnings $ 3,493 $ 3,959 $ 8,049 $ 7,922 Less: Net earnings attributable to noncontrolling interests 25 26 60 50 Net earnings attributable to P&G (Diluted) 3,468 3,933 7,988 7,872 Less: Preferred dividends 70 70 140 141 Net earnings attributable to P&G available to common shareholders (Basic) $ 3,398 $ 3,863 $ 7,849 $ 7,731 SHARES IN MILLIONS Basic weighted average common shares outstanding 2,358.0 2,365.9 2,359.0 2,375.7 Add: Effect of dilutive securities Convertible preferred shares (1) 73.9 76.7 74.3 77.0 Stock options and other unvested equity awards (2) 36.4 38.6 38.5 39.7 Diluted weighted average common shares outstanding 2,468.4 2,481.2 2,471.8 2,492.4 NET EARNINGS PER COMMON SHARE (3) Basic $ 1.44 $ 1.63 $ 3.33 $ 3.25 Diluted $ 1.40 $ 1.59 $ 3.23 $ 3.16 (1) An overview of preferred shares can be found in our Annual Report on Form 10-K for the fiscal year ended June 30, 2023. (2) Excludes approximately 9 million and 22 million for the three months ended December 31, 2023 and 2022, respectively, and 5 million and 19 million for the six months ended December 31, 2023 and 2022, respectively, of weighted average stock options outstanding because the exercise price of these options was greater than their average market value or their effect was antidilutive. (3) Basic net earnings per common share and Diluted net earnings per common share are calculated on Net earnings attributable to Procter & Gamble.

SHARE-BASED COMPENSATION AND PO

SHARE-BASED COMPENSATION AND POSTRETIREMENT BENEFITS	6 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Compensation and Employee Benefit Plans [Text Block]	Share-Based Compensation and Postretirement Benefits The following table provides a summary of our share-based compensation expense and postretirement benefit impacts: Three Months Ended December 31 Six Months Ended December 31 2023 2022 2023 2022 Share-based compensation expense $ 150 $ 145 $ 275 $ 250 Net periodic benefit cost for pension benefits 52 44 109 87 Net periodic benefit credit for other retiree benefits (156) (132) (311) (264)

RISK MANAGEMENT ACTIVITIES AND

RISK MANAGEMENT ACTIVITIES AND FAIR VALUE MEASUREMENTS	6 Months Ended
	Dec. 31, 2023
Risk Management Activities and Fair Value Measurements [Abstract]
Risk Management And Fair Value [Text Block]	Risk Management Activities and Fair Value Measurements As a multinational company with diverse product offerings, we are exposed to market risks, such as changes in interest rates, currency exchange rates and commodity prices. There have been no significant changes in our risk management policies or activities during the six months ended December 31, 2023. The Company has not changed its valuation techniques used in measuring the fair value of any financial assets and liabilities during the period. The Company recognizes transfers between levels within the fair value hierarchy, if any, at the end of each quarter. There were no transfers between levels during the periods presented. Also, there was no significant activity within the Level 3 assets and liabilities during the periods presented. Except for the impairment of the Gillette indefinite-lived intangible asset discussed in Note 4, there were no significant assets or liabilities that were re-measured at fair value on a non-recurring basis during the six months ended December 31, 2023 and 2022. Cash equivalents were $6.3 billion and $6.8 billion as of December 31, 2023 and June 30, 2023, respectively, and are classified as Level 1 within the fair value hierarchy. The Company had no other material investments in debt or equity securities during the periods presented. The fair value of long-term debt was $25.6 billion and $26.9 billion as of December 31, 2023 and June 30, 2023, respectively. This includes the current portion of long-term debt instruments ($3.4 billion and $3.9 billion as of December 31, 2023 and June 30, 2023, respectively). Certain long-term debt (debt designated as a fair value hedge) is recorded at fair value. All other long-term debt is recorded at amortized cost but is measured at fair value for disclosure purposes. We consider our debt to be Level 2 in the fair value hierarchy. Fair values are generally estimated based on quoted market prices for identical or similar instruments. Disclosures about Financial Instruments The notional amounts and fair values of financial instruments used in hedging transactions as of December 31, 2023 and June 30, 2023, are as follows: Notional Amount Fair Value Asset Fair Value (Liability) December 31, 2023 June 30, 2023 December 31, 2023 June 30, 2023 December 31, 2023 June 30, 2023 DERIVATIVES IN FAIR VALUE HEDGING RELATIONSHIPS Interest rate contracts $ 3,098 $ 4,044 $ — $ — $ (317) $ (445) DERIVATIVES IN NET INVESTMENT HEDGING RELATIONSHIPS Foreign currency interest rate contracts $ 12,267 $ 11,005 $ 5 $ 26 $ (347) $ (631) TOTAL DERIVATIVES DESIGNATED AS HEDGING INSTRUMENTS $ 15,365 $ 15,049 $ 5 $ 26 $ (664) $ (1,076) DERIVATIVES NOT DESIGNATED AS HEDGING INSTRUMENTS Foreign currency contracts $ 4,321 $ 3,489 $ 37 $ 7 $ (7) $ (42) TOTAL DERIVATIVES AT FAIR VALUE $ 19,686 $ 18,538 $ 42 $ 33 $ (671) $ (1,118) The fair value of the interest rate derivative asset/(liability) directly offsets the cumulative amount of the fair value hedging adjustment included in the carrying amount of the underlying debt obligation. The carrying amount of the underlying debt obligation, which includes the unamortized discount or premium and the fair value adjustment, was $2.8 billion and $3.6 billion as of December 31, 2023 and June 30, 2023, respectively. In addition to the foreign currency derivative contracts designated as net investment hedges, certain of our foreign currency denominated debt instruments are designated as net investment hedges. The carrying value of those debt instruments designated as net investment hedges, which includes the adjustment for the foreign currency transaction gain or loss on those instruments, was $10.8 billion and $11.8 billion as of December 31, 2023 and June 30, 2023, respectively. Derivative assets are presented in Prepaid expenses and other current assets or Other noncurrent assets. Derivative liabilities are presented in Accrued and other liabilities or Other noncurrent liabilities. Changes in the fair value of net investment hedges are recognized in the Foreign currency translation component of Other comprehensive income (OCI). All of the Company's derivative assets and liabilities measured at fair value are classified as Level 2 within the fair value hierarchy. Certain of the Company's financial instruments used in hedging transactions are governed by industry standard netting and collateral agreements with counterparties. If the Company's credit rating were to fall below the levels stipulated in the agreements, the counterparties could demand either collateralization or termination of the arrangements. The aggregate fair value of the instruments covered by these contractual features that are in a net liability position was $653 and $1,088 as of December 31, 2023 and June 30, 2023, respectively. The Company has not been required to post collateral as a result of these contractual features. Before tax gains on our financial instruments in hedging relationships are categorized as follows: Amount of Loss Recognized in OCI on Derivatives Three Months Ended December 31 Six Months Ended December 31 2023 2022 2023 2022 DERIVATIVES IN NET INVESTMENT HEDGING RELATIONSHIPS (1) (2) Foreign exchange contracts $ (487) $ (1,013) $ (202) $ (305) (1) For the derivatives in net investment hedging relationships, the amount of gain excluded from effectiveness testing, which was recognized in earnings, was $62 and $69 for the three months ended December 31, 2023 and 2022, respectively. The amount of gain excluded from effectiveness testing was $130 and $115 for the six months ended December 31, 2023 and 2022, respectively. (2) In addition to the foreign currency derivative contracts designated as net investment hedges, certain of our foreign currency denominated debt instruments are designated as net investment hedges. The amount of loss recognized in Accumulated other comprehensive income (AOCI) for such instruments was $(504) and $(862) for the three months ended December 31, 2023 and 2022, respectively. The amount of loss recognized in Accumulated other comprehensive income (AOCI) for such instruments was $(159) and $(164) for the six months ended December 31, 2023 and 2022, respectively. Amount of Gain/(Loss) Recognized in Earnings Three Months Ended December 31 Six Months Ended December 31 2023 2022 2023 2022 DERIVATIVES IN FAIR VALUE HEDGING RELATIONSHIPS Interest rate contracts $ 117 $ (49) $ 128 $ (180) DERIVATIVES NOT DESIGNATED AS HEDGING INSTRUMENTS Foreign currency contracts $ 128 $ 95 $ 57 $ (51) The gains/(losses) on the derivatives in fair value hedging relationships is fully offset by the mark-to-market impact of the related exposure. These are both recognized in Interest expense. The gains/(losses) on derivatives not designated as hedging instruments is substantially offset by the currency mark-to-market of the related exposure. These are both recognized in Selling, general and administrative expense (SG&A).

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	6 Months Ended
	Dec. 31, 2023
Statement of Comprehensive Income [Abstract]
Comprehensive Income (Loss) Note [Text Block]	Accumulated Other Comprehensive Income/(Loss) The table below presents the changes in Accumulated other comprehensive income/(loss) attributable to Procter & Gamble (AOCI), including the reclassifications out of AOCI by component: Investment Securities Postretirement Benefit Plans Foreign Currency Translation Total AOCI Balance at June 30, 2023 $ 13 $ 67 $ (12,300) $ (12,220) OCI before reclassifications (1) (2) (19) 83 62 Amounts reclassified to the Consolidated Statement of Earnings (2) — (11) — (11) Net current period OCI (2) (30) 83 51 Less: OCI attributable to noncontrolling interests — — (2) (2) Balance at December 31, 2023 $ 11 $ 37 $ (12,214) $ (12,167) (1) Net of tax (benefit)/expense of $0, $(9) and $(85) for gains/losses on investment securities, postretirement benefit plans and foreign currency translation, respectively. Income tax effects within foreign currency translation include impacts from items such as net investment hedge transactions. (2) Net of tax (benefit)/expense of $0, $(1) and $0 for gains/losses on investment securities, postretirement benefit plans and foreign currency translation, respectively. Postretirement benefit plan amounts are reclassified from AOCI into Other non-operating income, net and included in the computation of net periodic postretirement costs.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	Commitments and Contingencies Litigation We are subject, from time to time, to certain legal proceedings and claims arising out of our business, which cover a wide range of matters, including antitrust and trade regulation, product liability, advertising, contracts, environmental, patent and trademark matters, labor and employment matters and tax. While considerable uncertainty exists, in the opinion of management and our counsel, the ultimate resolution of the various lawsuits and claims will not materially affect our financial position, results of operations or cash flows. We are also subject to contingencies pursuant to environmental laws and regulations that in the future may require us to take action to correct the effects on the environment of prior manufacturing and waste disposal practices. Based on currently available information, we do not believe the ultimate resolution of environmental remediation will materially affect our financial position, results of operations or cash flows. Income Tax Uncertainties The Company is present in approximately 70 countries and over 150 taxable jurisdictions and, at any point in time, has 30–40 jurisdictional audits underway at various stages of completion. We evaluate our tax positions and establish liabilities for uncertain tax positions that may be challenged by local authorities and may not be fully sustained, despite our belief that the underlying tax positions are fully supportable. Uncertain tax positions are reviewed on an ongoing basis and are adjusted in light of changing facts and circumstances, including progress of tax audits, developments in case law and closing of statutes of limitations. Such adjustments are reflected in the tax provision as appropriate. We have tax years open ranging from 2010 and forward. We are generally not able to reliably estimate the timing and ultimate settlement amounts until the close of an audit. Based on information currently available, we anticipate that over the next 12-month period, audit activity could be completed related to uncertain tax positions in multiple jurisdictions for which we have accrued existing liabilities of approximately $15, including interest and penalties. Additional information on the Commitments and Contingencies of the Company can be found in our Annual Report on Form 10-K for the fiscal year ended June 30, 2023.

SUPPLY CHAIN FINANCING

SUPPLY CHAIN FINANCING	6 Months Ended
	Dec. 31, 2023
Statement of Financial Position [Abstract]
Supplier Finance Program [Text Block]	Supplier Finance Programs The Company has an ongoing program to negotiate extended payment terms with its suppliers consistent with market practices. The Company also supports a Supply Chain Finance program (“SCF”) with several global financial institutions. Under SCF, the Company maintains an accounts payable system to facilitate participating suppliers' ability to sell receivables from the Company to a SCF bank. These participating suppliers negotiate their sales of receivables arrangements directly with the respective SCF bank. The Company is not party to those agreements, but the SCF banks allow the suppliers to utilize the Company’s creditworthiness in establishing credit spreads and associated costs. Under this model, this arrangement generally provides the suppliers with more favorable terms than they would be able to secure on their own. The Company has no economic interest in a supplier’s decision to sell a receivable. Once a qualifying supplier chooses to participate in SCF, the supplier selects which individual Company invoices to sell to the SCF bank. The Company’s obligations to its suppliers, including the amounts due and scheduled payment dates, are not impacted by the supplier’s decisions to finance amounts under these arrangements. The Company does not provide any form of guarantee under these financing arrangements. Our payment terms for suppliers under this program generally range from 60 to 180 days. All outstanding amounts related to suppliers participating in SCF are recorded within Accounts payable in our Consolidated Balance Sheets, and the associated payments are included in operating activities within our Consolidated Statements of Cash Flows. The amount due to suppliers participating in SCF and included in Accounts payable was approximately $5.6 billion as of December 31, 2023, $5.7 billion as of June 30, 2023, and $5.8 billion as of June 30, 2022.

RESTRUCTURING AND RELATED ACTIV

RESTRUCTURING AND RELATED ACTIVITIES	6 Months Ended
	Dec. 31, 2023
Restructuring and Related Activities [Abstract]
Restructuring and Related Activities Disclosure [Text Block]	Restructuring Program The Company has historically incurred an ongoing annual level of restructuring-type activities to maintain a competitive cost structure, including manufacturing and workforce optimization. Before tax costs incurred under the ongoing program have generally ranged from $250 to $500 annually. Consistent with our historical policies for restructuring-type activities, the restructuring program charges will be funded by and included within Corporate for management and segment reporting. In December 2023, the Company announced a limited market portfolio restructuring of its business operations, primarily in certain Enterprise Markets, including Argentina and Nigeria, to address challenging macroeconomic and fiscal conditions. In connection with this announcement, the Company expects to record incremental restructuring charges of $1.0 to $1.5 billion after tax, consisting primarily of foreign currency translation losses to be recognized as non-cash charges upon the substantial liquidation of operations in the affected markets. For the three months ended December 31, 2023, the Company incurred charges of $89 including $48 in Costs of products sold and $39 in SG&A. For the six months ended December 31, 2023, the Company incurred charges of $181 including $109 in Costs of products sold and $68 in SG&A. The following table presents restructuring activity for the six months ended December 31, 2023: Separation Costs Asset-Related Costs Other Costs Total RESERVE JUNE 30, 2023 $ 155 $ — $ 19 $ 174 Costs incurred for the three months ended September 30, 2023 69 12 11 92 Costs incurred for the three months ended December 31, 2023 40 30 19 89 Costs incurred for the six months ended December 31, 2023 109 42 30 181 Costs paid/settled for the six months ended December 31, 2023 (91) (42) (27) (160) RESERVE DECEMBER 31, 2023 $ 173 $ — $ 22 $ 195 Separation Costs Employee separation costs relate to severance packages that are primarily voluntary and the amounts calculated are based on salary levels and past service periods. Asset-Related Costs Asset-related costs consist of both asset write-downs and accelerated depreciation for manufacturing consolidations. Asset write-downs relate to the establishment of a new fair value basis for assets held-for-sale or for disposal. These assets are written down to the lower of their current carrying basis or amounts expected to be realized upon disposal, less minor disposal costs. Charges for accelerated depreciation relate to long-lived assets that will be taken out of service prior to the end of their normal service period. Other Costs

Segment Reporting (Tables)

Segment Reporting (Tables)	6 Months Ended
	Dec. 31, 2023
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Our operating segments are comprised of similar product categories. Operating segments that individually accounted for 5% or more of consolidated net sales are as follows: % of Net sales by operating segment (1) Three Months Ended December 31 Six Months Ended December 31 2023 2022 2023 2022 Fabric Care 23 % 23 % 23 % 23 % Home Care 12 % 11 % 12 % 11 % Baby Care 9 % 10 % 10 % 10 % Hair Care 9 % 8 % 9 % 9 % Skin and Personal Care 9 % 10 % 9 % 10 % Family Care 9 % 8 % 8 % 8 % Oral Care 9 % 8 % 8 % 8 % Grooming 8 % 8 % 8 % 8 % Personal Health Care 6 % 7 % 7 % 6 % Feminine Care 6 % 7 % 6 % 7 % Total 100 % 100 % 100 % 100 % (1) % of Net sales by operating segment excludes sales recorded in Corporate. The following is a summary of reportable segment results: Three Months Ended December 31 Six Months Ended December 31 Net Sales Earnings/(Loss) Before Income Taxes Net Earnings/(Loss) Net Sales Earnings/(Loss) Before Income Taxes Net Earnings/(Loss) Beauty 2023 $ 3,849 $ 1,112 $ 868 $ 7,946 $ 2,361 $ 1,839 2022 3,807 1,145 911 7,768 2,416 1,922 Grooming 2023 1,734 538 440 3,458 1,071 862 2022 1,643 496 404 3,268 999 808 Health Care 2023 3,172 932 719 6,245 1,821 1,408 2022 3,051 887 686 5,808 1,687 1,303 Fabric & Home Care 2023 7,415 2,018 1,577 15,061 4,049 3,146 2022 7,032 1,538 1,171 14,114 3,081 2,343 Baby, Feminine & Family Care 2023 5,146 1,437 1,102 10,332 2,845 2,177 2022 5,065 1,112 848 9,999 2,167 1,653 Corporate 2023 126 (1,541) (1,214) 270 (1,849) (1,383) 2022 175 (343) (61) 428 (518) (107) Total Company 2023 $ 21,441 $ 4,496 $ 3,493 $ 43,312 $ 10,299 $ 8,049 2022 20,773 4,835 3,959 41,385 9,832 7,922

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	6 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill [Table Text Block]	Goodwill is allocated by reportable segment as follows: Beauty Grooming Health Care Fabric & Home Care Baby, Feminine & Family Care Total Company Goodwill at June 30, 2023 $ 13,888 $ 12,703 $ 7,718 $ 1,821 $ 4,529 $ 40,659 Acquisitions and divestitures — — — — — — Translation and other 99 71 56 6 25 257 Goodwill at December 31, 2023 $ 13,987 $ 12,774 $ 7,774 $ 1,827 $ 4,554 $ 40,916
Schedule of Intangible Assets and Goodwill [Table Text Block]	Identifiable intangible assets at December 31, 2023, were comprised of: Gross Carrying Amount Accumulated Amortization Intangible assets with determinable lives $ 9,071 $ (6,444) Intangible assets with indefinite lives 19,675 — Total identifiable intangible assets $ 28,746 $ (6,444)
Schedule of Potential Impacts to Estimated Fair Values [Table Text Block]	The table below provides, in isolation, the estimated fair value impacts related to a 25 basis-point increase in the discount rate, a 25 basis-point decrease in our short-term and residual growth rates or a 50 basis-point decrease in our royalty rate, which may result in an additional impairment of the Gillette indefinite-lived intangible asset. Approximate Percent Change in Estimated Fair Value +25 bps Discount Rate -25 bps Growth Rates -50 bps Royalty Rate Gillette indefinite-lived intangible asset (5) % (5) % (4) %

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Net earnings per common share were calculated as follows: CONSOLIDATED AMOUNTS Three Months Ended December 31 Six Months Ended December 31 2023 2022 2023 2022 Net earnings $ 3,493 $ 3,959 $ 8,049 $ 7,922 Less: Net earnings attributable to noncontrolling interests 25 26 60 50 Net earnings attributable to P&G (Diluted) 3,468 3,933 7,988 7,872 Less: Preferred dividends 70 70 140 141 Net earnings attributable to P&G available to common shareholders (Basic) $ 3,398 $ 3,863 $ 7,849 $ 7,731 SHARES IN MILLIONS Basic weighted average common shares outstanding 2,358.0 2,365.9 2,359.0 2,375.7 Add: Effect of dilutive securities Convertible preferred shares (1) 73.9 76.7 74.3 77.0 Stock options and other unvested equity awards (2) 36.4 38.6 38.5 39.7 Diluted weighted average common shares outstanding 2,468.4 2,481.2 2,471.8 2,492.4 NET EARNINGS PER COMMON SHARE (3) Basic $ 1.44 $ 1.63 $ 3.33 $ 3.25 Diluted $ 1.40 $ 1.59 $ 3.23 $ 3.16 (1) An overview of preferred shares can be found in our Annual Report on Form 10-K for the fiscal year ended June 30, 2023. (2) Excludes approximately 9 million and 22 million for the three months ended December 31, 2023 and 2022, respectively, and 5 million and 19 million for the six months ended December 31, 2023 and 2022, respectively, of weighted average stock options outstanding because the exercise price of these options was greater than their average market value or their effect was antidilutive. (3) Basic net earnings per common share and Diluted net earnings per common share are calculated on Net earnings attributable to Procter & Gamble.

SHARE-BASED COMPENSATION AND _2

SHARE-BASED COMPENSATION AND POSTRETIREMENT BENEFITS (Tables)	6 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Compensation and Employee Benefit Plans [Table Text Block]	The following table provides a summary of our share-based compensation expense and postretirement benefit impacts: Three Months Ended December 31 Six Months Ended December 31 2023 2022 2023 2022 Share-based compensation expense $ 150 $ 145 $ 275 $ 250 Net periodic benefit cost for pension benefits 52 44 109 87 Net periodic benefit credit for other retiree benefits (156) (132) (311) (264)

RISK MANAGEMENT ACTIVITIES AN_2

RISK MANAGEMENT ACTIVITIES AND FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Dec. 31, 2023
Risk Management Activities and Fair Value Measurements [Abstract]
Schedule of Derivative Instruments [Table Text Block]	The notional amounts and fair values of financial instruments used in hedging transactions as of December 31, 2023 and June 30, 2023, are as follows: Notional Amount Fair Value Asset Fair Value (Liability) December 31, 2023 June 30, 2023 December 31, 2023 June 30, 2023 December 31, 2023 June 30, 2023 DERIVATIVES IN FAIR VALUE HEDGING RELATIONSHIPS Interest rate contracts $ 3,098 $ 4,044 $ — $ — $ (317) $ (445) DERIVATIVES IN NET INVESTMENT HEDGING RELATIONSHIPS Foreign currency interest rate contracts $ 12,267 $ 11,005 $ 5 $ 26 $ (347) $ (631) TOTAL DERIVATIVES DESIGNATED AS HEDGING INSTRUMENTS $ 15,365 $ 15,049 $ 5 $ 26 $ (664) $ (1,076) DERIVATIVES NOT DESIGNATED AS HEDGING INSTRUMENTS Foreign currency contracts $ 4,321 $ 3,489 $ 37 $ 7 $ (7) $ (42) TOTAL DERIVATIVES AT FAIR VALUE $ 19,686 $ 18,538 $ 42 $ 33 $ (671) $ (1,118)
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) [Table Text Block]	Before tax gains on our financial instruments in hedging relationships are categorized as follows: Amount of Loss Recognized in OCI on Derivatives Three Months Ended December 31 Six Months Ended December 31 2023 2022 2023 2022 DERIVATIVES IN NET INVESTMENT HEDGING RELATIONSHIPS (1) (2) Foreign exchange contracts $ (487) $ (1,013) $ (202) $ (305) (1) For the derivatives in net investment hedging relationships, the amount of gain excluded from effectiveness testing, which was recognized in earnings, was $62 and $69 for the three months ended December 31, 2023 and 2022, respectively. The amount of gain excluded from effectiveness testing was $130 and $115 for the six months ended December 31, 2023 and 2022, respectively. (2)
Derivative Instruments, Gain (Loss) [Table Text Block]	Amount of Gain/(Loss) Recognized in Earnings Three Months Ended December 31 Six Months Ended December 31 2023 2022 2023 2022 DERIVATIVES IN FAIR VALUE HEDGING RELATIONSHIPS Interest rate contracts $ 117 $ (49) $ 128 $ (180) DERIVATIVES NOT DESIGNATED AS HEDGING INSTRUMENTS Foreign currency contracts $ 128 $ 95 $ 57 $ (51)

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	6 Months Ended
	Dec. 31, 2023
Statement of Comprehensive Income [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	The table below presents the changes in Accumulated other comprehensive income/(loss) attributable to Procter & Gamble (AOCI), including the reclassifications out of AOCI by component: Investment Securities Postretirement Benefit Plans Foreign Currency Translation Total AOCI Balance at June 30, 2023 $ 13 $ 67 $ (12,300) $ (12,220) OCI before reclassifications (1) (2) (19) 83 62 Amounts reclassified to the Consolidated Statement of Earnings (2) — (11) — (11) Net current period OCI (2) (30) 83 51 Less: OCI attributable to noncontrolling interests — — (2) (2) Balance at December 31, 2023 $ 11 $ 37 $ (12,214) $ (12,167) (1) Net of tax (benefit)/expense of $0, $(9) and $(85) for gains/losses on investment securities, postretirement benefit plans and foreign currency translation, respectively. Income tax effects within foreign currency translation include impacts from items such as net investment hedge transactions. (2) Net of tax (benefit)/expense of $0, $(1) and $0 for gains/losses on investment securities, postretirement benefit plans and foreign currency translation, respectively.

RESTRUCTURING AND REALTED ACTIV

RESTRUCTURING AND REALTED ACTIVITIES (Tables)	6 Months Ended
	Dec. 31, 2023
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Reserve by Type of Cost [Table Text Block]	The following table presents restructuring activity for the six months ended December 31, 2023: Separation Costs Asset-Related Costs Other Costs Total RESERVE JUNE 30, 2023 $ 155 $ — $ 19 $ 174 Costs incurred for the three months ended September 30, 2023 69 12 11 92 Costs incurred for the three months ended December 31, 2023 40 30 19 89 Costs incurred for the six months ended December 31, 2023 109 42 30 181 Costs paid/settled for the six months ended December 31, 2023 (91) (42) (27) (160) RESERVE DECEMBER 31, 2023 $ 173 $ — $ 22 $ 195

SEGMENT INFORMATION - SALES (De

SEGMENT INFORMATION - SALES (Details)		3 Months Ended		6 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Segment Reporting, Additional Information about Entity's Reportable Segments - Percent of Sales by Business Unit	[1]	100%	100%	100%	100%
Fabric Care [Member]
Segment Reporting Information [Line Items]
Segment Reporting, Additional Information about Entity's Reportable Segments - Percent of Sales by Business Unit	[1]	23%	23%	23%	23%
Home Care [Member]
Segment Reporting Information [Line Items]
Segment Reporting, Additional Information about Entity's Reportable Segments - Percent of Sales by Business Unit	[1]	12%	11%	12%	11%
Baby Care [Member]
Segment Reporting Information [Line Items]
Segment Reporting, Additional Information about Entity's Reportable Segments - Percent of Sales by Business Unit	[1]	9%	10%	10%	10%
Hair Care [Member]
Segment Reporting Information [Line Items]
Segment Reporting, Additional Information about Entity's Reportable Segments - Percent of Sales by Business Unit	[1]	9%	8%	9%	9%
Skin and Personal Care [Member]
Segment Reporting Information [Line Items]
Segment Reporting, Additional Information about Entity's Reportable Segments - Percent of Sales by Business Unit	[1]	9%	10%	9%	10%
Family Care [Member]
Segment Reporting Information [Line Items]
Segment Reporting, Additional Information about Entity's Reportable Segments - Percent of Sales by Business Unit	[1]	9%	8%	8%	8%
Oral Care [Member]
Segment Reporting Information [Line Items]
Segment Reporting, Additional Information about Entity's Reportable Segments - Percent of Sales by Business Unit	[1]	9%	8%	8%	8%
Grooming [Member]
Segment Reporting Information [Line Items]
Segment Reporting, Additional Information about Entity's Reportable Segments - Percent of Sales by Business Unit	[1]	8%	8%	8%	8%
Personal Health Care [Member]
Segment Reporting Information [Line Items]
Segment Reporting, Additional Information about Entity's Reportable Segments - Percent of Sales by Business Unit	[1]	6%	7%	7%	6%
Feminine Care [Member]
Segment Reporting Information [Line Items]
Segment Reporting, Additional Information about Entity's Reportable Segments - Percent of Sales by Business Unit	[1]	6%	7%	6%	7%
[1] % of Net sales by operating segment excludes sales recorded in Corporate.

SEGMENT INFORMATION (Details)

SEGMENT INFORMATION (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Net Sales	$ 21,441	$ 20,773	$ 43,312	$ 41,385
Earnings/(Loss) from Continuing Operations Before Income Taxes	4,496	4,835	10,299	9,832
Net Earnings/(Loss) from Continuing Operations	3,493	3,959	8,049	7,922
Beauty
Segment Reporting Information [Line Items]
Net Sales	3,849	3,807	7,946	7,768
Earnings/(Loss) from Continuing Operations Before Income Taxes	1,112	1,145	2,361	2,416
Net Earnings/(Loss) from Continuing Operations	868	911	1,839	1,922
Grooming
Segment Reporting Information [Line Items]
Net Sales	1,734	1,643	3,458	3,268
Earnings/(Loss) from Continuing Operations Before Income Taxes	538	496	1,071	999
Net Earnings/(Loss) from Continuing Operations	440	404	862	808
Health Care
Segment Reporting Information [Line Items]
Net Sales	3,172	3,051	6,245	5,808
Earnings/(Loss) from Continuing Operations Before Income Taxes	932	887	1,821	1,687
Net Earnings/(Loss) from Continuing Operations	719	686	1,408	1,303
Fabric and Home Care
Segment Reporting Information [Line Items]
Net Sales	7,415	7,032	15,061	14,114
Earnings/(Loss) from Continuing Operations Before Income Taxes	2,018	1,538	4,049	3,081
Net Earnings/(Loss) from Continuing Operations	1,577	1,171	3,146	2,343
Baby, Feminine & Family Care
Segment Reporting Information [Line Items]
Net Sales	5,146	5,065	10,332	9,999
Earnings/(Loss) from Continuing Operations Before Income Taxes	1,437	1,112	2,845	2,167
Net Earnings/(Loss) from Continuing Operations	1,102	848	2,177	1,653
Corporate
Segment Reporting Information [Line Items]
Net Sales	126	175	270	428
Earnings/(Loss) from Continuing Operations Before Income Taxes	(1,541)	(343)	(1,849)	(518)
Net Earnings/(Loss) from Continuing Operations	$ (1,214)	$ (61)	$ (1,383)	$ (107)

GOODWILL AND OTHER INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLE ASSETS - CHANGE IN THE NET CARRYING AMOUNT OF GOODWILL BY GLOBAL BUSINESS UNIT (Details) $ in Millions	6 Months Ended
	Dec. 31, 2023 USD ($)
Goodwill [Roll Forward]
Goodwill at June 30, 2023	$ 40,659
Goodwill, Acquisitions and Divestitures	0
Goodwill, Translation and Other	257
Goodwill at December 31, 2023	40,916
Beauty
Goodwill [Roll Forward]
Goodwill at June 30, 2023	13,888
Goodwill, Acquisitions and Divestitures	0
Goodwill, Translation and Other	99
Goodwill at December 31, 2023	13,987
Grooming
Goodwill [Roll Forward]
Goodwill at June 30, 2023	12,703
Goodwill, Acquisitions and Divestitures	0
Goodwill, Translation and Other	71
Goodwill at December 31, 2023	12,774
Health Care
Goodwill [Roll Forward]
Goodwill at June 30, 2023	7,718
Goodwill, Acquisitions and Divestitures	0
Goodwill, Translation and Other	56
Goodwill at December 31, 2023	7,774
Fabric & Home Care
Goodwill [Roll Forward]
Goodwill at June 30, 2023	1,821
Goodwill, Acquisitions and Divestitures	0
Goodwill, Translation and Other	6
Goodwill at December 31, 2023	1,827
Baby, Feminine & Family Care
Goodwill [Roll Forward]
Goodwill at June 30, 2023	4,529
Goodwill, Acquisitions and Divestitures	0
Goodwill, Translation and Other	25
Goodwill at December 31, 2023	$ 4,554

GOODWILL AND OTHER INTANGIBLE_4

GOODWILL AND OTHER INTANGIBLE ASSETS - IDENTIFIABLE INTANGIBLE ASSETS (Details) $ in Millions	Dec. 31, 2023 USD ($)
Schedule of Finite and Indefinite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 28,746
Accumulated Amortization	(6,444)
Intangible Assets with Indefinite Lives
Schedule of Finite and Indefinite Lived Intangible Assets [Line Items]
Gross Carrying Amount	19,675
Accumulated Amortization	0
Intangible Assets with Determinable Lives
Schedule of Finite and Indefinite Lived Intangible Assets [Line Items]
Gross Carrying Amount	9,071
Accumulated Amortization	$ (6,444)

GOODWILL AND OTHER INTANGIBLE_5

GOODWILL AND OTHER INTANGIBLE ASSETS - FAIR VALUE SENSITIVITY (Details) - Intangible Assets with Indefinite Lives - Gillette	Dec. 31, 2023
25 bps Increase Discount Rate [Member]
SCHEDULE OF POTENTIAL IMPACTS TO ESTIMATED FAIR VALUES [Line Items]
Percent Change in Estimated Fair Value	(0.05)
25 bps Decrease Long-Term Growth [Member]
SCHEDULE OF POTENTIAL IMPACTS TO ESTIMATED FAIR VALUES [Line Items]
Percent Change in Estimated Fair Value	(0.05)
50 bps Decrease Long-Term Royalty [Member]
SCHEDULE OF POTENTIAL IMPACTS TO ESTIMATED FAIR VALUES [Line Items]
Percent Change in Estimated Fair Value	(0.04)

GOODWILL AND OTHER INTANGIBLE_6

GOODWILL AND OTHER INTANGIBLE ASSETS - ADDITIONAL INFORMATION (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2023
Other Significant Noncash Transactions [Line Items]
Amortization of Intangible Assets	$ 84	$ 79	$ 171	$ 159
Impairment of Intangible Assets for Grooming Segment, Indefinite-Lived (Excluding Goodwill)	1,341	$ 0	1,341	$ 0
Gillette | RUSSIAN FEDERATION
Other Significant Noncash Transactions [Line Items]
Percent of Sales					4%
Gillette | Intangible Assets with Indefinite Lives
Other Significant Noncash Transactions [Line Items]
Intangible Assets, Net (Including Goodwill)	12,800		$ 12,800
Grooming [Member]
Other Significant Noncash Transactions [Line Items]
Intangible Asset Impairment Charges After Tax	$ 1,000

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions		3 Months Ended				6 Months Ended
		Dec. 31, 2023		Dec. 31, 2022		Dec. 31, 2023	Dec. 31, 2022
Earnings Per Share Reconciliation [Abstract]
Net Earnings		$ 3,493		$ 3,959		$ 8,049	$ 7,922
Net Income (Loss) Attributable to Noncontrolling Interest		25		26		60	50
Net Earnings/(Loss) Attributable to P&G (Diluted)		3,468		3,933		7,988	7,872
Dividends, Preferred Stock		70		70		140	141
Net Earnings/(Loss) Attributable to P&G Available to Common Shareholders (Basic)		$ 3,398		$ 3,863		$ 7,849	$ 7,731
Weighted Average Number of Shares Outstanding, Diluted [Abstract]
Basic Weighted Average Common Shares Outstanding		2,358		2,365.9		2,359	2,375.7
Effect of Dilutive Securities
Conversion of Preferred Shares	[1]	73.9		76.7		74.3	77
Exercise of Stock Options and Other Unvested Equity Awards	[2]	36.4		38.6		38.5	39.7
Diluted Weighted Average Common Shares Outstanding		2,468.4		2,481.2		2,471.8	2,492.4
Basic Net Earnings/(Loss) Per Common Share	[3]	$ 1.44	[4]	$ 1.63	[4]	$ 3.33	$ 3.25
Diluted Net Earnings/(Loss) Per Common Share	[3]	$ 1.40	[4]	$ 1.59	[4]	$ 3.23	$ 3.16
[1] An overview of preferred shares can be found in our Annual Report on Form 10-K for the fiscal year ended June 30, 2023. Basic net earnings per common share and Diluted net earnings per common share are calculated on Net earnings attributable to Procter & Gamble. Basic net earnings per common share and Diluted net earnings per common share are calculated on Net earnings attributable to Procter & Gamble.

EARNINGS PER SHARE - ANTIDILUTI

EARNINGS PER SHARE - ANTIDILUTIVE SECURITIES (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Employee Stock Option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	9	22	5	19

SHARE-BASED COMPENSATION AND _3

SHARE-BASED COMPENSATION AND POSTRETIREMENT BENEFITS (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Abstract]
Share-based Payment Arrangement, Expense	$ 150	$ 145	$ 275	$ 250
Pension Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)	52	44	109	87
Other Postretirement Benefit Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)	$ (156)	$ (132)	$ (311)	$ (264)

RISK MANAGEMENT ACTIVITIES AN_3

RISK MANAGEMENT ACTIVITIES AND FAIR VALUE MEASUREMENTS - DERIVATIVE INSTRUMENTS, EFFECT ON OTHER COMPREHENSIVE INCOME (LOSS) (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2023
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Notional Amount		$ 19,686		$ 19,686		$ 18,538
Derivative Asset		42		42		33
Derivative Liability		(671)		(671)		(1,118)
Derivatives in Net Investment Hedging Relationships
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing, Net		62	$ 69	130	$ 115
Accumulated Other Comprehensive Income, Gain (Loss)		$ (504)	$ (862)	$ (159)	$ (164)
Derivatives in Net Investment Hedging Relationships | Foreign Exchange Contract
Derivative Instruments, Gain (Loss) [Line Items]
Description of Location of Gain (Loss) on Net Investment Hedges in Financial Statements	[1],[2]	(487)	(1,013)	(202)	(305)
Derivative, Notional Amount		$ 12,267		$ 12,267		11,005
Derivative Asset		5		5		26
Derivative Liability		(347)		(347)		(631)
Derivatives in Fair Value Hedging Relationships | Interest Rate Contracts
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Notional Amount		3,098		3,098		4,044
Derivative Asset		0		0		0
Derivative Liability		(317)		(317)		(445)
Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Notional Amount		15,365		15,365		15,049
Derivative Asset		5		5		26
Derivative Liability		(664)		(664)		(1,076)
Not Designated as Hedging Instrument | Foreign Exchange Contract
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Notional Amount		4,321		4,321		3,489
Derivative Asset		37		37		7
Derivative Liability		$ (7)		$ (7)		$ (42)
[1] For the derivatives in net investment hedging relationships, the amount of gain excluded from effectiveness testing, which was recognized in earnings, was $62 and $69 for the three months ended December 31, 2023 and 2022, respectively. The amount of gain excluded from effectiveness testing was $130 and $115 for the six months ended December 31, 2023 and 2022, respectively. In addition to the foreign currency derivative contracts designated as net investment hedges, certain of our foreign currency denominated debt instruments are designated as net investment hedges. The amount of loss recognized in Accumulated other comprehensive income (AOCI) for such instruments was $(504) and $(862) for the three months ended December 31, 2023 and 2022, respectively. The amount of loss recognized in Accumulated other comprehensive income (AOCI) for such instruments was $(159) and $(164) for the six months ended December 31, 2023 and 2022, respectively.

RISK MANAGEMENT ACTIVITIES AN_4

RISK MANAGEMENT ACTIVITIES AND FAIR VALUE MEASUREMENTS - DERIVATIVE INSTRUMENTS GAIN (LOSS) (Details)		3 Months Ended		6 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Derivatives in Net Investment Hedging Relationships | Foreign Exchange Contract
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Description of Location of Gain (Loss) on Net Investment Hedges in Financial Statements	[1],[2]	(487)	(1,013)	(202)	(305)
[1] For the derivatives in net investment hedging relationships, the amount of gain excluded from effectiveness testing, which was recognized in earnings, was $62 and $69 for the three months ended December 31, 2023 and 2022, respectively. The amount of gain excluded from effectiveness testing was $130 and $115 for the six months ended December 31, 2023 and 2022, respectively. In addition to the foreign currency derivative contracts designated as net investment hedges, certain of our foreign currency denominated debt instruments are designated as net investment hedges. The amount of loss recognized in Accumulated other comprehensive income (AOCI) for such instruments was $(504) and $(862) for the three months ended December 31, 2023 and 2022, respectively. The amount of loss recognized in Accumulated other comprehensive income (AOCI) for such instruments was $(159) and $(164) for the six months ended December 31, 2023 and 2022, respectively.

RISK MANAGEMENT ACTIVITIES AN_5

RISK MANAGEMENT ACTIVITIES AND FAIR VALUE MEASUREMENTS - SCHEDULE OF DERIVATIVE INSTRUMENTS (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Interest Rate Contracts | Derivatives in Fair Value Hedging Relationships
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss) on Derivative, Net	$ 117	$ (49)	$ 128	$ (180)
Foreign Currency Contract | Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss) on Derivative, Net	$ 128	$ 95	$ 57	$ (51)

RISK MANAGEMENT ACTIVITIES AN_6

RISK MANAGEMENT ACTIVITIES AND FAIR VALUE MEASUREMENTS - ADDITIONAL INFORMATION (Details) - USD ($) $ in Millions	Dec. 31, 2023	Jun. 30, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents, at Carrying Value	$ 6,300	$ 6,800
Collateral Already Posted, Aggregate Fair Value	653	1,088
Derivatives in Fair Value Hedging Relationships | Underlying, Other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Underlying Debt Obligation, Carrying Amt	2,800	3,600
Derivatives in Net Investment Hedging Relationships | Underlying, Other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Underlying Debt Obligation, Carrying Amt	10,800	11,800
Long-term Debt [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term Debt, Fair Value	25,600	26,900
Long Term Debt, Current Maturities Measured at Fair Value	$ 3,400	$ 3,900

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - CHANGES IN AOCI AND RECLASSIFICATION OUT OF AOCI (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2023
Accumulated Other Comprehensive Income/(Loss)		$ (12,167)		$ (12,167)		$ (12,220)
OCI before Reclassifications	[1]			62
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	[2]			(11)
Other Comprehensive Income (Loss), Net of Tax		416	$ 302	51	$ (325)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Noncontrolling Interest				(2)
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Including Noncontrolling Interest [Member]
Accumulated Other Comprehensive Income/(Loss)		11		11		13
OCI before Reclassifications	[1]			(2)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	[2]			0
Other Comprehensive Income (Loss), Net of Tax				(2)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Noncontrolling Interest				0
Other Comprehensive Income (Loss) before Reclassifications, Tax	[1]			0
Reclassification from AOCI, Current Period, Tax	[2]			0
Accumulated Defined Benefit Plans Adjustment, Net Gain (Loss) Including Portion Attributable to Noncontrolling Interest
Accumulated Other Comprehensive Income/(Loss)		37		37		67
OCI before Reclassifications	[1]			(19)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	[2]			(11)
Other Comprehensive Income (Loss), Net of Tax				(30)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Noncontrolling Interest				0
Other Comprehensive Income (Loss) before Reclassifications, Tax	[1]			(9)
Reclassification from AOCI, Current Period, Tax	[2]			(1)
Accumulated Foreign Currency Adjustment Including Portion Attributable to Noncontrolling Interest [Member]
Accumulated Other Comprehensive Income/(Loss)		$ (12,214)		(12,214)		$ (12,300)
OCI before Reclassifications	[1]			83
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	[2]			0
Other Comprehensive Income (Loss), Net of Tax				83
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Noncontrolling Interest				(2)
Other Comprehensive Income (Loss) before Reclassifications, Tax	[1]			(85)
Reclassification from AOCI, Current Period, Tax	[2]			$ 0
[1] Net of tax (benefit)/expense of $0, $(9) and $(85) for gains/losses on investment securities, postretirement benefit plans and foreign currency translation, respectively. Income tax effects within foreign currency translation include impacts from items such as net investment hedge transactions. Net of tax (benefit)/expense of $0, $(1) and $0 for gains/losses on investment securities, postretirement benefit plans and foreign currency translation, respectively.

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - ADDITIONAL INFORMATION (Details) $ in Millions	6 Months Ended
	Dec. 31, 2023 USD ($) audit taxable_jurisdiction countries
Loss Contingencies [Line Items]
Number of Countries With On The Ground Operations | countries	70
Number of Taxable Jurisdictions | taxable_jurisdiction	150
Tax Adjustments, Settlements, and Unusual Provisions | $	$ 15
Minimum
Loss Contingencies [Line Items]
Number of Audits Typically Underway	30
Maximum
Loss Contingencies [Line Items]
Number of Audits Typically Underway	40

SUPPLY CHAIN FINANCING - ADDITI

SUPPLY CHAIN FINANCING - ADDITIONAL INFORMATION (Details) - USD ($) $ in Millions	Dec. 31, 2023	Jun. 30, 2023	Jun. 30, 2022
Supplier Finance Program [Line Items]
Supplier Finance Program, Obligation	$ 5,600	$ 5,700	$ 5,800

RESTRUCTURING AND RELATED ACT_2

RESTRUCTURING AND RELATED ACTIVITIES (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2023	Jun. 30, 2023
Reserve Balance	$ 195		$ 195	$ 174
Restructuring Charges	89	$ 92	181
Payments for Restructuring			(160)
Separations
Reserve Balance	173		173	155
Restructuring Charges	40	69	109
Payments for Restructuring			(91)
Facility Closing
Reserve Balance	0		0	0
Restructuring Charges	30	12	42
Payments for Restructuring			(42)
Other Costs
Reserve Balance	22		22	$ 19
Restructuring Charges	$ 19	$ 11	30
Payments for Restructuring			$ (27)

RESTRUCTURING AND RELATED ACT_3

RESTRUCTURING AND RELATED ACTIVITIES - ADDITIONAL INFORMATION (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2023
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	$ 89	$ 92	$ 181
Minimum
Restructuring Cost and Reserve [Line Items]
Restructuring Charges			1,000
Historical Restructuring Costs Before Tax	250		250
Maximum
Restructuring Cost and Reserve [Line Items]
Restructuring Charges			1,500
Historical Restructuring Costs Before Tax	500		500
Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	48		109
Selling, General and Administrative Expenses [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	$ 39		$ 68