The Procter & Gamble Company

NYSE-PG

Operating Activities	Jun '25	Dec '24	Jun '24	Dec '23	Jun '23	Dec '22
Net Income	7,419	8,646	6,925	8,049	6,816	7,922
Net Earnings
Depreciation & Amortization	1,413	1,434	1,473	1,423	1,398	1,316
Depreciation and Amortization
Share-Based Compensation Expense	235	241	287	275	295	250
Share-Based Compensation Expense
Other Adjustments	-104	1,008	-302	1,184	-92	-401
Loss on Early Extinguishment of Debt
Deferred Income Taxes
Loss on Sale of Assets
Goodwill and Indefinite-Lived Intangible Impairment Charges
Changes in Trade Receivables	307	-262	73	-839	347	-654
Change in Accounts Receivable
Changes in Inventories	-154	-170	-38	-32	536	-655
Change in Inventories
Changes in Accounts Payable	615	-1,157	576	302	-624	177
Change in Accounts Payable and Accrued and Other Liabilities
Change in Accounts Payable
Changes in Other Operating Activities	-1,040	-613	849	-358	528	-311
Change in Other Operating Assets and Liabilities
Other
Cash from Operating Activities	8,690	9,127	9,842	10,004	9,204	7,644
Total Operating Activities

Investing Activities	Jun '25	Dec '24	Jun '24	Dec '23	Jun '23	Dec '22
Capital Expenditure	-1,855	-1,918	-1,580	-1,742	-1,464	-1,598
Capital Expenditures
Proceeds from Sale of Property, Plant & Equipment	60	47	338	8	38	8
Proceeds from Asset Sales
Purchases of Investments	—	—	—	—	—	—
Purchases of Investment Securities
Proceeds from Sale of Investments	—	—	—	—	—	—
Proceeds from Sales and Maturities of Investment Securities
Payments for Business Acquisitions	-5	-6	-21	—	-689	-76
Acquisitions, Net of Cash Acquired
Other Investing Activities	12	-153	-18	-489	-63	344
Pre-Divestiture Addition of Restricted Cash Related to the Beauty Brands Divestiture
Cash Transferred at Closing Related to the Beauty Brands Divestiture
Release of Restricted Cash Upon Closing of the Beauty Brands Divestiture
Cash Transferred in Batteries Divestiture
Change in Other Investments
Other Investing Activity
Cash from Investing Activities	-1,789	-2,029	-1,280	-2,224	-2,178	-1,322
Total Investing Activities

Financing Activities	Jun '25	Dec '24	Jun '24	Dec '23	Jun '23	Dec '22
Issuance of Short-Term Debt	2,115	5,905	730	2,798	6,721	10,447
Additions to Short-Term Debt with Original Maturities of More Than Three Months
Repayments of Short-Term Debt	-5,941	-571	-1,827	-5,862	-9,771	-3,260
Reductions in Short-Term Debt
Reductions in Short-Term Debt with Original Maturities of More Than Three Months
Net Issuance / (Repayments) of Short-Term Debt	-3,826	5,334	-1,097	-3,064	-3,050	7,187
Issuance of Long-Term Debt	1,242	995	2,943	254	3,997	—
Additions to Long-Term Debt
Repayments of Long-Term Debt	-499	-1,478	—	-2,335	-1	-1,877
Reductions in Long-Term Debt
Net Issuance / (Repayments) of Long-Term Debt	743	-483	2,943	-2,081	3,996	-1,877
Issuance of Common Shares	722	985	1,508	397	832	437
Impact of Stock Options and Other
Repurchases of Common Shares	-2,051	-4,449	-2,503	-2,503	-1,351	-6,002
Treasury Stock Purchases
Net Issuance / (Repurchases) of Common Shares	-1,329	-3,464	-995	-2,106	-519	-5,565
Common Share Dividends Paid	-4,986	-4,886	-4,734	-4,578	-4,513	-4,486
Dividends to Shareholders
Other Financing Activities	1,567	-2,705	-2,883	3,740	-1,560	-1,759
Net Additions to Other Short-Term Debt
Treasury Stock from Cash Infused in Batteries Divestiture
Cash from Financing Activities	-7,831	-6,205	-6,768	-8,087	-5,646	-6,500
Total Financing Activities