
As of June 30	2025		2024
PROPERTY, PLANT AND EQUIPMENT
Machinery and equipment	$	40,077	$	37,507
Buildings	9,190		8,534
Construction in progress	3,935		3,126
Land	979		895
TOTAL PROPERTY, PLANT AND EQUIPMENT	54,181		50,063
Accumulated depreciation	(30,284)		(27,911)
PROPERTY, PLANT AND EQUIPMENT, NET	$	23,897	$	22,152

Selected components of current and noncurrent liabilities were as follows:


As of June 30	2025		2024
ACCRUED AND OTHER LIABILITIES - CURRENT
Accrued marketing and promotion	$	3,851	$	4,172
Accrued compensation	2,007		2,161
Taxes payable	1,177		1,042
Derivative liabilities	627		54
Accrued interest	293		282
Lease liabilities	255		243
Restructuring reserves	189		166
Other	2,920		2,953
TOTAL	$	11,318	$	11,073

OTHER NONCURRENT LIABILITIES
Pension benefit obligations	$	3,026	$	2,884
Uncertain tax positions	701		723
Lease liabilities	701		666
Other retiree benefit obligations	691		653
Derivative liabilities	435		325
2017 U.S. Tax Act transitional tax payable	—		592
Other	566		555
TOTAL	$	6,120	$	6,398

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 ongoing programs have generally ranged from $250 to $500 annually.

In the fiscal year ended June 30, 2024, the Company started 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. During the period ended September 30, 2024, the Company completed this limited market portfolio restructuring with the substantial liquidation of its operations in Argentina and recorded $801 after tax of incremental charges, comprised primarily of non-cash charges for accumulated foreign currency translation losses previously included in Accumulated other comprehensive income/(loss). The total incremental restructuring charges incurred under the program beginning in the three-month period ended December 31, 2023, through the three-month period ended September 30, 2024, were $1.2 billion after tax.

The Company incurred total restructuring charges of $1.1 billion and $659 for the fiscal years ended June 30, 2025 and 2024. Of the charges incurred for fiscal year 2025, $150 were recorded in Costs of products sold, $171 in SG&A and $793 in Other

non-operating income, net. Of the charges incurred in fiscal year 2024, $248 were recorded in Costs of products sold, $155 in SG&A and $255 in Other non-operating income, net.


	Separation Costs		Asset-Related Costs		Other Costs		Total
RESERVE JUNE 30, 2023	$	155	$	—	$	19	$	174
Cost incurred	202		101		355		659
Cost paid/settled	(224)		(101)		(342)		(667)
RESERVE JUNE 30, 2024	133		—		32		166
Cost incurred	145		55		914		1,114
Cost paid/settled	(158)		(55)		(877)		(1,090)
RESERVE JUNE 30, 2025	$	120	$	—	$	69	$	189

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 restructuring-type charges are incurred as a direct result of the restructuring plan. Such charges include accumulated foreign currency translation losses, asset removal and termination of contracts. In the period ended September 30, 2024, the Company substantially liquidated its operations in Argentina and recorded a non-cash charge of $752 for accumulated foreign currency translation losses previously included in Accumulated other comprehensive income/(loss).

Consistent with our historical policies for ongoing restructuring-type activities, the restructuring charges are funded by and included within Corporate for management and segment reporting. However, for information purposes, the following table summarizes the total restructuring costs related to our reportable segments:


Fiscal years ended June 30	2025		2024		2023
Beauty	$	43	$	43	$	15
Grooming	32		76		17
Health Care	30		33		28
Fabric & Home Care	24		84		87
Baby, Feminine & Family Care	40		50		21
Corporate (1)	945		371		161
TOTAL	$	1,114	$	659	$	329