21 unchanged sentences
The Company utilizes various distribution channels, including retail stores, e-commerce platforms and direct-to-consumer platforms to deliver our products.
−Removed: Our business model relies on continued productivity improvements to fuel investments in R&D and marketing and deliver value creation.
+Added: Our business model relies on continued productivity improvements to fuel investments in research and development and marketing and deliver value creation.
Our objective is to deliver sustainable and balanced top- and bottom-line growth while serving the needs of all stakeholders — consumers, customers, employees, society and shareowners.
5 unchanged sentences
Sales to Walmart Inc.
−Removed: and its affiliates represent approximately 16% of our total sales in 2024 and 15% in 2023 and 2022.
+Added: and its affiliates represent approximately 16% of our total sales in 2025 and 2024 and 15% in 2023.
No other customer represents more than 10% of our total sales.
4 unchanged sentences
In addition, fuel, natural gas and derivative products are important commodities consumed in our manufacturing processes and in the transportation of input materials and finished products.
−Removed: The prices we pay for materials and other commodities are subject to fluctuation.
+Added: The prices we pay for materials and other commodities are subject to fluctuation including new or increased tariffs.
When prices for these items change, we may or may not pass the change to our customers.
30 unchanged sentences
The C&LD Committee also evaluates and approves the Company’s compensation plans, policies and programs applicable to our senior executives.
−Removed: As of June 30, 2024, the Company had approximately 108,000 employees, unchanged versus the prior year.
+Added: As of June 30, 2025, the Company had approximately 109,000 employees, an increase of 2% versus the prior year due to business growth.
The total number of employees is an estimate of total Company employees excluding interns, co-ops, contractors and employees of joint ventures.
3 unchanged sentences
Training and Development
−Removed: We focus on attracting, developing and retaining the widest pool of talent available, both from universities and the broader market.
+Added: We focus on attracting, developing and retaining the broadest pool of talent available, both from universities and the broader market.
We recruit from universities across markets in which we compete and are generally able to select from the top talent.
1 unchanged sentence
Given our develop-from-within model for staffing most of our senior leadership positions, it is particularly important for us to ensure holistic growth and full engagement of our employees.
−Removed: Diversity, Equality and Inclusion
−Removed: As a consumer products company, we believe that it is important for our workforce to reflect the diversity of our consumers worldwide.
−Removed: We also seek to foster an inclusive work environment where each individual can bring their authentic self, which helps drive innovation and enables us to better serve our consumers.
−Removed: We aspire to achieve equal gender representation globally and at key management and leadership levels.
−Removed: Within the U.S.
−Removed: workforce, our aspiration is to achieve 40% multicultural representation overall as well as at management and leadership levels.
+Added: Equality and Inclusion
+Added: As a global consumer products company, P&G serves consumers around the world with operations in approximately 70 countries.
+Added: We believe that it is good for business that our workforce is drawn from the best available talent from communities worldwide, with insights about, connectivity to and understanding of all our consumers.
+Added: Further, a foundational component of P&G's strategy and success has been to foster an inclusive work environment, in which we develop and advance the very best capabilities that all our people have to offer.
+Added: Globally, we aspire to reflect the diversity of the consumers we serve in the communities where we operate and are committed to creating a superior employee experience for all.
+Added: Our aspiration is founded on our longstanding values and principles for equal opportunity and compliance with the law.
Compensation and Benefits
5 unchanged sentences
We are focused on designing and manufacturing irresistibly superior products that are more sustainable.
−Removed: We aim to reduce our own environmental footprint and enable our consumers to reduce their footprint without compromising on the performance of the products they use.
−Removed: We develop and license technologies that can be used across industries to improve environmental sustainability at a broader scale.
+Added: We aim to reduce our own environmental footprint and
The Procter & Gamble Company 3
+Added: enable our consumers to reduce their footprint without compromising on the performance of the products they use.
+Added: We develop and license technologies that can be used across industries to improve environmental sustainability at a broader scale.
Combined, this approach intends to positively impact the total environmental impact of the Company while driving market growth and value creation.
1 unchanged sentence
Our Climate Transition Action Plan outlines the Company’s ongoing efforts toward reducing greenhouse gas emissions across scopes 1 and 2 and elements of scope 3.
−Removed: The Company has also declared objectives towards purchasing renewable electricity for our operations, reducing use of virgin petroleum-based plastic in packaging, increasing the recyclability or reusability of packaging, responsible sourcing of key forest-based commodities, improving efficiency of water usage in our operations and driving a global portfolio of water restoration projects that help address water scarcity in key water basins.
−Removed: Our progress towards these objectives may be influenced and impacted by various stakeholders and developments beyond our control.
+Added: The Company has also declared ambitions towards purchasing renewable electricity for our operations, reducing intensity of virgin petroleum-based plastic in packaging, designing more consumer packaging to be recyclable or reusable, responsible sourcing of key forest-based commodities, improving efficiency of water usage in our operations and driving a global portfolio of water restoration projects in key water basins.
+Added: While we have met or exceeded some of the goals and are making significant progress against others, scalable infrastructure and cost-effective solutions are not yet available to us to fully deliver against some of our stated ambitions.
Sustainability related disclosures included in this Annual Report, our Proxy Statement and our sustainability reports are informed by standards and guidelines such as the Global Reporting Initiative (GRI) and the Task Force on Climate-related Financial Disclosures (TCFD).
3 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.