UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
AMENDMENT NO. 1 TO FORM 10-K
FORM 10-K/A
(Mark One)
[x] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended June 30, 1994
OR [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
For the transmission period from to
Commission file number 1-07151
THE CLOROX COMPANY
(Exact name of registrant as specified in its charter)
DELAWARE 31-0595760
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
1221 Broadway, Oakland, CA 94612-1888
(Address of principal (Zip Code)
executive offices
Registrant's telephone number, (510) 271-7000
including area code
THIS AMENDMENT IS BEING FILED SOLELY TO CORRECT A TYPOGRAPHICAL
ERROR IN THE INDEPENDENT AUDITORS' REPORT ON FINANCIAL
STATEMENT SCHEDULES. SUCH REPORT, AS AMENDED, IS ATTACHED
IN ITS ENTIRETY. THE FINANCIAL STATEMENT SCHEDULES ARE ALSO
ATTACHED FOR CONVENIENCE OF THE READER.
PART IV
ITEM l4. EXHIBITS, FINANCIAL STATEMENT SCHEDULES AND
REPORTS ON FORM 8-K
(a) (2) Financial Statement Schedules as of June 30,
1994 or for the years ended June 30, 1994,
l993 and l992, as applicable:
Page
-----
Independent Auditors' Report on 4
Financial Statement Schedules
(as amended)
I Short-Term Investments 5
V Property, Plant and Equipment 6
VI Accumulated Depreciation and 7
Amortization of Property, Plant
and Equipment
VIII Valuation and Qualifying Accounts 8
and Reserves
IX Short-Term Borrowings 9
X Supplementary Income Statement 10
Information
SIGNATURES
Pursuant to the requirements of Section l3 or l5(d) of the
Securities Exchange Act of l934, the registrant has duly
caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
THE CLOROX COMPANY
Date: September 27, 1994 By: /s/ E. A. Cutter
E. A. Cutter, Senior Vice
President - General Counsel
and Secretary
INDEPENDENT AUDITORS' REPORT
ON FINANCIAL STATEMENT SCHEDULES
The Stockholders and the Board of Directors
of The Clorox Company:
We have audited the consolidated financial statements of
The Clorox Company and its subsidiaries as of June 30, 1994
and 1993, and for each of the three years in the period ended
June 30, 1994, and have issued our report thereon dated
August 10, 1994; such consolidated financial statements and
report are included in your 1994 Annual Report to Stockholders
and are incorporated herein by reference. Our audits also
included the financial statement schedules of The Clorox
Company and its subsidiaries listed in Item 14(a)(2).
These financial statement schedules are the responsibility
of the Company's management. Our responsibility is to
express an opinion based on our audits. In our opinion,
such financial statement schedules, when considered in
relation to the basic consolidated financial statements
taken as a whole, present fairly in all material respects
the information set forth therein.
/s/ Deloitte & Touche
Deloitte & Touche
San Francisco, California
August 10, 1994
SCHEDULE I
THE CLOROX COMPANY AND SUBSIDIARIES
SHORT-TERM INVESTMENTS
June 30, 1994
(In thousands)
COLUMN A COLUMN B COLUMN C
Principal Amount
Name of Issuer and of Bonds Cost of
Title of Each Issue <F1> and Notes Each Issue
Eurodollar Time Deposits,
issued by J. P. Morgan $50,624 $50,624
Eurodollar Time Deposits 6,000 6,000
Repurchase Agreements 26,600 26,600
Certificate of Deposits 3,000 3,000
Foreign Government Notes 13 13
Total $85,877 $85,877
======== ========
[FN]
<F1> Names of issuers have been omitted when no security of the
same issuer in the aggregate is more than two percent of
total assets.
Information required by Columns D & E is omitted since
short-term investments are valued at cost, and such cost
approximates market value.
SCHEDULE V
THE CLOROX COMPANY AND SUBSIDIARIES
PROPERTY, PLANT AND EQUIPMENT
FOR THE YEARS ENDED JUNE 30, 1994, 1993 AND 1992
(In thousands)
- - ----------------------------------------------------------------------------------------------------------
COLUMN A COLUMN B COLUMN C COLUMN D COLUMN E COLUMN F
<F2>
Balance at <F1> Other Balance at
beginning Additions changes - end
Classification of period at cost Retirements add(deduct) of period
- - ----------------------------------------------------------------------------------------------------------
YEAR ENDED JUNE 30, 1994
Land and improvements $57,594 $3,309 $1,860 ($38) $59,005
Buildings 262,198 13,673 13,767 (140) 261,964
Machinery & equipment 443,157 69,930 16,769 (415) 495,903
Construction in progress 51,304 (14,146) 3,496 (12) 33,650
-------- ------- -------- ------ ---------
Total $814,253 $72,766 35,892 ($605) $850,522
========= ======= ======== ====== =========
YEAR ENDED JUNE 30, 1993
Land and improvements $50,214 $7,685 $290 ($15) $57,594
Buildings 243,933 26,090 7,713 (112) 262,198
Machinery & equipment 352,039 110,573 19,237 (218) 443,157
Construction in progress 106,116 (53,314) 1,495 (3) 51,304
-------- ------- -------- ------ ---------
Total $752,302 $91,034 $28,735 ($348) $814,253
========= ======= ======== ====== =========
YEAR ENDED JUNE 30, 1992
Land and improvements $44,651 $6,195 $622 ($10) $50,214
Buildings 232,415 12,412 818 (76) 243,933
Machinery & equipment 319,431 41,415 8,672 (135) 352,039
Construction in progress 52,153 55,738 1,773 (2) 106,116
-------- ------- -------- ------ ---------
Total $648,650 $115,760 $11,885 ($223) $752,302
========= ======= ======== ====== =========
<FN>
<F1> Significant additions in all three years related to expansion of processing and packaging facilities and
equipment.
<F2> Effect of translating property, plant and equipment of foreign subsidiaries using the exchange rates
in effect at the balance sheet date as required by Statement of Financial Accounting Standards No. 52
(see Note 1 to Consolidated Financial Statements, page 24 of the Annual Report, incorporated
herein by this reference).
SCHEDULE VI
THE CLOROX COMPANY AND SUBSIDIARIES
ACCUMULATED DEPRECIATION AND AMORTIZATION OF PROPERTY, PLANT AND EQUIPMENT
FOR THE YEARS ENDED JUNE 30, 1994, 1993 AND 1992
(In thousands)
- - ----------------------------------------------------------------------------------------------------------
COLUMN A COLUMN B COLUMN C COLUMN D COLUMN E COLUMN F
Additions (1)
Balance at charged to Other Balance at
beginning costs & changes - end
Classification of period expenses Retirements add(deduct) of period
- - ----------------------------------------------------------------------------------------------------------
YEAR ENDED JUNE 30, 1994
Land and improvements $6,417 $1,196 $498 ($9) $7,106
Buildings 68,354 12,054 4,753 (48) 75,607
Machinery & equipment 201,381 48,410 14,367 (215) 235,209
-------- ------- ------- ------ --------
Total $276,152 $61,660 $19,618 ($272) $317,922
======== ======= ======= ====== ========
YEAR ENDED JUNE 30, 1993
Land and improvements $5,468 $943 ($14) ($8) $6,417
Buildings 59,179 11,877 2,665 (37) 68,354
Machinery & equipment 179,026 38,712 16,200 (157) 201,381
-------- ------- ------- ------ --------
Total $243,673 $51,532 $18,851 ($202) $276,152
======== ======= ======= ====== ========
YEAR ENDED JUNE 30, 1992
Land and improvements $4,835 $771 $133 ($5) $5,468
Buildings 49,151 10,845 794 (23) 59,179
Machinery & equipment 152,870 32,851 6,602 (93) 179,026
-------- ------- ------- ------ --------
Total $206,856 $44,467 $7,529 ($121) $243,673
======== ======= ======= ====== ========
<FN>
<F1> Effect of translating property, plant and equipment of foreign subsidiaries using the exchange
rates in effect at the balance sheet date as required by Statement of Financial Accounting
Standards No. 52 (see Note 1 to Consolidated Financial Statements, page 24 of the Annual Report,
incorporated herein by this reference).
Depreciation - Rates used to compute depreciation are generally as follows:
Land improvements 3-1/3% to 10%
Buildings 2-1/2% to 10%
Machinery and equipment 5% to 33-1/3%
SCHEDULE VIII
THE CLOROX COMPANY AND SUBSIDIARIES
VALUATION AND QUALIFYING ACCOUNTS AND RESERVES
FOR THE YEARS ENDED JUNE 30, 1994, 1993 AND 1992
(In thousands)
- - -----------------------------------------------------------------------------------------------------
COLUMN A COLUMN B COLUMN C (1) COLUMN C (2) COLUMN D COLUMN E
Additions Additions
Balance Charged to Charged to Balance as
beginning Costs and Other end of
Description of period Expenses Accounts Deductions period
- - -----------------------------------------------------------------------------------------------------
YEAR ENDED JUNE 30, 1994 N/A N/A
YEAR ENDED JUNE 30, 1993 N/A N/A
YEAR ENDED JUNE 30, 1992
Inventories valuation
allowance resulting
from restructuring $3,516 $3,516 0
SCHEDULE IX
THE CLOROX COMPANY AND SUBSIDIARIES
SHORT-TERM BORROWINGS
FOR THE YEARS ENDED JUNE 30, 1994, 1993 AND 1992
(In thousands)
- - -------------------------------------------------------------------------------------------------
COLUMN A COLUMN B COLUMN C COLUMN D COLUMN E COLUMN F
Weighted
Maximum Average Average
Category of Weighted Amount Amount Interest
Aggregate Balance Average Outstanding Outstanding Rate
Short-Term at End Interest During During During the
Borrowing <F1> of Period Rate the Period the Period<F2> Period <F3>
- - -------------------------------------------------------------------------------------------------
YEAR ENDED JUNE 30, 1994
Commercial Paper and
Other $42,916 <F4> 4.43% $173,185 $59,186 3.50%
YEAR ENDED JUNE 30, 1993
Commercial Paper and
Other $39,486 <F4> 3.14% $112,999 $79,203 3.25%
YEAR ENDED JUNE 30, 1992
Commercial Paper $77,410 3.86% $178,816 $153,952 4.86%
<FN>
<F1> These are temporary borrowings with maturity term from 1 to 91 days.
<F2> Computed as the average of ending daily balances outstanding.
<F3> Computed based upon average daily balances outstanding.
<F4> Amounts include commercial paper of $34,855 and $34,941, and short-term notes payable to banks of
$8,061 and $4,544 at June 30, 1994 and 1993, respectively.
SCHEDULE X
SUPPLEMENTARY INCOME STATEMENT INFORMATION
FOR THE YEARS ENDED JUNE 30, 1994, 1993 AND 1992
(In thousands)
- - --------------------------------------------------------------
COLUMN A Column B
Charged to costs and expenses
Item 1994 1993 1992
- - --------------------------------------------------------------
Maintenance and repairs $31,300 $29,700 $29,900
Items not shown above are reported in the related consolidated
financial statements or have been omitted because they do not
exceed 1% of total net sales.