PROCTER & GAMBLE CO, 11-K filed on 9/24/2025
Annual Report of Employee Stock Plans
v3.25.2
Cover
12 Months Ended
Jun. 30, 2025
Document Information [Line Items]  
Document Type 11-K
Entity Registrant Name Procter & Gamble Co
Amendment Flag false
Entity Central Index Key 0000080424
EBP France  
Document Information [Line Items]  
Document Type 11-K
Entity Registrant Name Procter & Gamble Co
Amendment Flag false
Entity Central Index Key 0000080424
v3.25.2
STATEMENTS OF NET ASSETS AVAILABLE FOR PLAN BENEFITS - EBP France - EUR (€)
Jun. 30, 2025
Jun. 30, 2024
ASSETS:    
Total investments € 212,369,557 € 218,772,852
Receivables:    
Participant contribution 3,914,803 2,670,669
Employer contribution 1,737,837 4,202,718
Total receivables 5,652,640 6,873,387
NET ASSETS AVAILABLE FOR PLAN BENEFITS 218,022,196 225,646,238
EBP, Participant-Directed    
ASSETS:    
Total investments 77,442,079 73,247,110
EBP, Nonparticipant-Directed    
ASSETS:    
Total investments 134,927,478 145,525,742
Receivables:    
NET ASSETS AVAILABLE FOR PLAN BENEFITS € 134,927,478 € 145,525,742
v3.25.2
STATEMENTS OF CHANGES IN ASSETS AVAILABLE FOR PLAN BENEFITS - EBP France - EUR (€)
12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Contributions:      
Participant contributions € 6,135,332 € 5,526,508 € 5,393,765
Employer contributions 8,682,778 9,434,257 8,455,057
Total contributions 14,818,110 14,960,765 13,848,823
Investment (loss) income:      
Dividends from The Procter & Gamble Company common stock 1,654,439 2,271,107 2,461,212
Other income (expense) 71,514 37,192 24,374
Net investment (loss) income (3,539,667) 22,852,140 7,325,721
Total additions 11,278,443 37,812,904 21,174,544
DEDUCTION—Benefits paid to participants 18,902,485 25,750,581 17,246,286
NET INCREASE (DECREASE) (7,624,042) 12,062,324 3,928,258
NET ASSETS AVAILABLE FOR PLAN BENEFITS:      
Beginning of year 225,646,238 213,583,914 209,655,656
End of year 218,022,196 225,646,238 213,583,914
Procter & Gamble Company common stock      
Investment (loss) income:      
Increase (decrease) in unrealized appreciation (18,244,496) (24,341,734) (4,251,157)
Realized gain (loss) on sale 8,778,152 38,318,252 5,956,596
Dividends from The Procter & Gamble Company common stock 1,654,439 2,271,107 2,461,212
Other investments      
Investment (loss) income:      
Increase (decrease) in unrealized appreciation (1,009,535) 2,657,131 2,355,285
Realized gain (loss) on sale € 5,210,259 € 3,910,190 € 779,411
v3.25.2
DESCRIPTION OF THE PLAN
12 Months Ended
Jun. 30, 2025
EBP France  
EBP, Description of Plan [Line Items]  
DESCRIPTION OF THE PLAN DESCRIPTION OF THE PLAN
The following brief description of Procter & Gamble Holding France S.A.S. Group Profit Sharing, Incentive and Employer Contribution Plan (the “Plan”) is provided for general information only. Participants should refer to the Plan Document and their country’s Plan supplement for more complete information.

General — The Plan is an employee savings plan established on December 17, 1990 by agreement between Procter & Gamble Holding France S.A.S. together with its directly wholly-owned subsidiaries (with the exception of P&G Health France that is not part of this agreement), and those subsidiaries’ respective Work councils, in order to provide a means for eligible employees to save and invest their income, group profit sharing, and incentive remuneration. The most recent Plan agreement took effect on January 1, 2015, and was signed by Procter & Gamble Holding France S.A.S., Procter & Gamble France S.A.S., Procter & Gamble Amiens S.A.S., Procter & Gamble Blois S.A.S (together, “P&G France”) and their related Work councils. An amendment to the Plan to increase the Employer’s matching contribution was implemented as of FY 18/19, signed by the same parties. An amendment to the Plan to change the nature of the Funds D and amend the Employer matching contribution calculation was signed on Jan 30, 2024.

In addition to the Plan, a collective Pension Savings plan (“PERCO”) was established for Procter & Gamble Holding France S.A.S and its subsidiaries (Procter & Gamble France S.A.S., Procter & Gamble Blois S.A.S since January 2013 and Procter & Gamble Amiens S.A.S since June 2016). An amendment to the PERCO agreement was signed at the end of 2024 to transform it into a "PER Collectif" (still a Collective retirement saving plan) allowing a more favourable taxation to employees vs PERCO.

Procter & Gamble Holding France S.A.S. is indirectly a wholly owned subsidiary of The Procter & Gamble Company (the “Parent”). The Plan and the "PER Collectif" are subject to the laws and regulations of France. The assets of the Plan and of the "PER Collectif" are invested in five “Fonds Commun de Placement d’Entreprise” (“FCPE”) which are registered investment funds reserved to employees of “P&G France” subject to the laws and regulations of France. The plan’s financial statements are a combination of the 5 FCPE.

Administration Administration of the Plan and of the "PER Collectif" are executed by Procter & Gamble Holding France S.A.S. with the support of Vega Investment Solutions (previously Natixis Investments Managers International), the fund manager. The five FCPE are under the supervision of the “Conseils de Surveillance” (“Monitoring Committees”) which are composed of both employee and employer representatives of “P&G France”.

Participants Accounts and Investments Options — An account is maintained for each employee and reflects employee and employer contributions as well as employee withdrawals. There is no provision for the allocation of income since the FCPE’s do not pay dividends. Participants are permitted to invest into any of the five FCPE’s; however, employees contributions generating a P&G matching contribution can only be invested in FCPE Groupe Procter & Gamble (Option D). Amounts may be transferred from one FCPE to another FCPE for both blocked and available funds with the exception of FCPE Groupe Procter & Gamble (Option D) out of which only unblocked funds may be transferred.

Participants may allocate their account balances to one or all of the following investment options offered by the Plan:
FCPE Groupe Procter & Gamble Actions (Option A) – The prospectus indicates that this fund is primarily invested in international equities or in mutual funds which invest in international equities with a
minimum of 60% (and maximum 90%) and with a minimum of 25% (and maximum 60%) in international fixed income products.

FCPE Groupe Procter & Gamble Obligations (Option B) – The prospectus indicates that this fund is primarily invested in Eurozone monetary products or in mutual funds which invest primarily in Eurozone monetary products.

FCPE Groupe Procter & Gamble 5000 (Option C) – The prospectus indicates that this fund is exposed to a maximum 115% of its assets in international equities or in mutual funds invested in international equities (Europe, United States, Japan and Asia emerging countries) and with a maximum of 10% invested in fixed income products.

FCPE Groupe Procter & Gamble (Option D) – The prospectus indicates that this fund is invested at 66.66% maximum in The Procter & Gamble Company common stock and with a minimum of 33.33% invested in US/Euro zone monetary products.

FCPE Groupe Procter & Gamble (Option F) – The prospectus indicates that this fund is invested at 80% in international bonds or in mutual funds which invest in international bonds, at 20% in “socially responsible investment” Euro bonds or in mutual funds which invest in “socially responsible” Euro bonds.

For the "PER Collectif", investments in Option D are not possible. The other Options are accessible at the discretion of the employee.

Contribution and Vesting Employees are eligible to the Plan three months after their start date with “P&G France”. Contributions are made by Plan participants as well as by “P&G France” as follows:

Employees’ Contributions:

-    Voluntary, periodic contributions – These are usually contributed on a monthly basis. They are eligible for matching contributions from P&G France. These contributions are automatically invested in Option D.

-    Voluntary, complementary contributions – Employees may make complementary contributions whenever they wish although these amounts receive no matching contributions. These contributions are invested at the discretion of the employee in one of the five FCPE’s.

Employers’ Contributions:

-    Employer matching contributions – P&G France makes a matching contribution of 100% of Employee contribution for investment between €7.62 and €80 maximum) and of 50% of Employee contribution for investment between €80.01 and €275 euros maximum) per month, with a maximum threshold of €177.50. These matching contributions are automatically invested in Option D.

-    Profit Sharing – P&G France calculates and distributes profit sharing contributions according to French law (“Participation”) as well as a supplementary profit-sharing agreement (“Interessement”). These amounts are invested at the discretion of the employee in one of the five FCPE’s. If no investment direction is given by the employee, amounts are automatically invested either as per the last investment choice or, by default, in Option B (with a 50/50 split between PEE and "PER Collectif" for “Participation”, and 100% to PEE for “Interessement”.

All contributions are immediately 100 percent vested.

Contributions to the "PER Collectif" can be made by the employees through i) voluntary periodic contributions, ii) investment of the profit-sharing contribution and iii) investment of remaining vacation days (up to 10 per fiscal year) for which “P&G France” will contribute under certain age conditions.
Withdrawals — All contributions to the Plan are “blocked” for a period of five years beginning on October 1st of the calendar year in which the contribution was made. After this period, amounts are available for withdrawal without restriction. Under certain circumstances, as defined by law, a participant may withdraw “blocked” contributions. All amounts become immediately available for withdrawal upon the termination of employment.

Plan Termination – The Plan agreement was renewed by written agreement between “P&G France” and their related Work councils in December 2014 with effective date January 1st, 2015, for an indefinite period.
In the event of Plan termination, the FCPE’s will either remain active or will be merged with other FCPE’s. Thus, Plan participants will have the option to withdraw “unblocked” amounts or to remain invested. Future employee and employer contributions to the Plan would then be suspended.
PLAN PARTICIPANTS
As of June 30, 2025, the Plan had 2,251 participants investing in the Plan (vs 2,240 as of June 30, 2024) whereas 853 employees (807 as of June 30, 2024) chose to collect their year group profit sharing rather than invest in the plan.
v3.25.2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
12 Months Ended
Jun. 30, 2025
EBP France  
EBP, Accounting Policy [Line Items]  
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Accounting — The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America.
Use of Estimates — The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, and changes therein and disclosure of contingent assets and liabilities. Actual results could differ from those estimates.
Employer and participant’s contributions reflect the estimated total investments in the Plan, based on prior year behavior.
Risks and Uncertainties — The Plan utilizes various investment instruments as described in Note 1. Investment securities, in general, are exposed to various risks, such as interest rate, credit, and overall market volatility. Due to the level of risk associated with certain investment securities, it is reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect the amounts reported in the financial statements.
Plan Investments – The Plan’s investments are presented at fair-value based upon the net asset value of the units of each FCPE held by the Plan at year end. The net asset values of the FCPE’s are determined by the fund manager, Natixis Asset Management, based upon the fair value of the FCPE’s underlying investments, less any liabilities.
Purchases and sales of investments are recorded on a trade date basis. Dividends are recorded on the ex-dividend date. The cost of investments sold is determined using average cost.
Fair value measurements – ASC 820, Fair Value Measurements and Disclosures, established a single authoritative definition of fair value, set as a framework for measuring fair value, and requires additional disclosures about fair value measurements. In accordance with ASC 820, the Plan classifies its investments into Level 1, which refers to securities valued using quoted prices from active markets for identical assets; Level 2 which refers to securities not traded on an active market but for which observable market inputs are readily available; and Level 3, which refers to securities valued based on significant unobservable inputs. Assets are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.
The following table sets forth by level within the hierarchy a summary of the Plan’s investments measured at fair value on a recurring basis on June 30, 2025.
20252024
Asset GroupLevel 1Level 2Level 3Level 1Level 2Level 3
Procter & Gamble Company common stock134,927,478 145,525,742 
Other investments77,442,079 73,247,110 
TOTAL212,369,557 218,772,852 
Expenses of the Plan – Investment management, record keeping expenses, and other administrative expenses are paid by P&G Holding France S.A.S. Brokerage commissions are paid by the participants, and other costs related to the purchase or sale of shares are reflected in the price of the shares and borne by the participants.
Contributions Receivable – Contributions that are pending transfer to the Fund manager as of June 30, 2025, and 2024 are recorded as contributions receivable to the Plan in the accompanying financial statements.
Payment of Benefits – Benefit payments to participants are recorded upon distribution. There were no amounts allocated to accounts of persons who have elected to withdraw from the Plan but have not been yet paid on June 30, 2025, and 2024.
v3.25.2
INVESTMENTS
12 Months Ended
Jun. 30, 2025
EBP France  
EBP, Schedule of Asset Held for Investment [Line Items]  
INVESTMENTS INVESTMENTS
Investments held by the Plan on June 30, 2025, and 2024 were as follows:

20252024
(All numbers in Euros)NumberMarketNumberMarket
of SharesValue in €urosof SharesValue in €uros
Investments of each FCPE
• Groupe Procter & Gamble Actions (Option A)*192,065 29,173,094 194,092 27,532,125 
• Groupe Procter & Gamble Obligations (Option B)*544,436 16,351,548 564,123 16,434,869 
• Groupe Procter & Gamble 5000 (Option C)*647,345 27,681,676 626,974 25,212,059 
• Groupe Procter & Gamble (Option D)* 316,429 134,927,478 322,261 145,525,742 
• Groupe Procter & Gamble Obligations (Option F)*2,720,879 4,235,761 2,724,576 4,068,056 
Total investments212,369,557 218,772,852 
*Represents investments which exceed five percent of net assets available for benefits
The Plan’s investments experienced unrealized (depreciation) appreciation in value as follows for the years ended June 30, 2025, 2024 and 2023:

(All numbers in Euros)202520242023
  
The Procter & Gamble Company Common stock (FCPE Option D)  
Cost101,281,311 93,635,079 64,459,308 
Market value134,927,478 145,525,742 140,691,705 
Unrealized appreciation (depreciation)33,646,167 51,890,663 76,232,396 
   
(Decrease) increase in unrealized appreciation(18,244,496)(24,341,734)(4,251,157)
   
Other investments (FCPE Option A, B, C, F)   
Cost66,673,078 61,468,575 57,801,655 
Market value77,442,079 73,247,110 66,923,059 
Unrealized appreciation (depreciation)10,769,000 11,778,535 9,121,404 
   
Increase (decrease) in unrealized appreciation(1,009,535)2,657,131 2,355,285 
The realized gain (loss) on the sales of the Plan’s investments for the years ended June 30, 2025, 2024, and 2023 was determined as follows:

(All numbers in Euros)202520242023
  
The Procter & Gamble Company Common stock   
Proceeds on sales of shares30,075,121 75,122,493 13,207,083 
Cost21,296,969 36,804,241 7,250,487 
Realized (loss) gain8,778,152 38,318,252 5,956,596 
   
Other investments   
Proceeds on sales of shares54,472,212 41,364,927 15,798,977 
Cost49,261,953 37,454,737 15,019,566 
Realized (loss) gain5,210,259 3,910,190 779,411 
v3.25.2
NON-PARTICIPANT - DIRECTED INVESTMENTS
12 Months Ended
Jun. 30, 2025
EBP France  
EBP, Nonparticipant-Directed Investment [Line Items]  
NON-PARTICIPANT - DIRECTED INVESTMENTS NON-PARTICIPANT - DIRECTED INVESTMENTS
FCPE Option D is considered to be non-participant directed under the guidance of SOP 99-3 because participants are required to maintain contributed funds in the Parent’s stock.
Information about the net assets and the significant components of the changes in net assets relating to the non- participant directed investments as of June 30, 2025, 2024 and 2023 is as follows:
(All numbers in Euros)202520242023
  
Net assets:   
P&G Company Stock (FCPE Option D) - beginning of year145,525,742 140,691,705 138,319,301 
   
Changes in net assets:   
  Net appreciation (depreciation) in fair value of investments(7,810,847)16,253,146 4,164,204 
  Participant contributions5,035,349 4,797,285 4,640,541 
  Employer contributions6,587,969 5,777,217 5,945,539 
  Benefits paid to participants(14,410,736)(21,993,611)(12,377,880)
           Net change(10,598,264)4,834,037 2,372,404 
  
P&G Company Stock (FCPE Option D)—end of year134,927,478 145,525,742 140,691,705 
v3.25.2
TAX STATUS
12 Months Ended
Jun. 30, 2025
EBP France  
EBP, Tax Status [Line Items]  
TAX STATUS TAX STATUS
The Plan and the underlying FCPE’s are subject to the tax laws of France. The Plan and the underlying FCPE’s are tax-exempt according to French tax law. Thus, no provision for income taxes has been reflected in the accompanying financial statements.
v3.25.2
RELATED PARTY TRANSACTIONS
12 Months Ended
Jun. 30, 2025
EBP France  
EBP, Related Party and Party-in-Interest Transactions [Line Items]  
RELATED PARTY TRANSACTIONS RELATED PARTY TRANSACTIONS
On June 30, 2025, and 2024, the plan held 638,400 and 624,150 shares respectively, of common stock of the Procter & Gamble Company, the sponsoring employer with a cost basis of €101,281,311 and €93,635,079 respectively and a fair value of €134,927,478 and €145,525,742 respectively.
During the years ended June 30, 2025, 2024 and 2023, the Plan recorded dividend income from common stock of the Procter & Gamble Company of €1,654,439, €2,271,107 and €2,461,212 respectively.
During the years ended June 30, 2025, 2024 and 2023, the Plan’s investment in common stock of The Procter & Gamble Company, including gains and losses on investments bought and sold as well as held during the year (depreciated) appreciated in value by €(9,466,344), €13,976,519, and €1,705,439 respectively.
v3.25.2
PLAN PARTICIPANTS
12 Months Ended
Jun. 30, 2025
EBP France  
EBP, Description of Plan [Line Items]  
PLAN PARTICIPANTS DESCRIPTION OF THE PLAN
The following brief description of Procter & Gamble Holding France S.A.S. Group Profit Sharing, Incentive and Employer Contribution Plan (the “Plan”) is provided for general information only. Participants should refer to the Plan Document and their country’s Plan supplement for more complete information.

General — The Plan is an employee savings plan established on December 17, 1990 by agreement between Procter & Gamble Holding France S.A.S. together with its directly wholly-owned subsidiaries (with the exception of P&G Health France that is not part of this agreement), and those subsidiaries’ respective Work councils, in order to provide a means for eligible employees to save and invest their income, group profit sharing, and incentive remuneration. The most recent Plan agreement took effect on January 1, 2015, and was signed by Procter & Gamble Holding France S.A.S., Procter & Gamble France S.A.S., Procter & Gamble Amiens S.A.S., Procter & Gamble Blois S.A.S (together, “P&G France”) and their related Work councils. An amendment to the Plan to increase the Employer’s matching contribution was implemented as of FY 18/19, signed by the same parties. An amendment to the Plan to change the nature of the Funds D and amend the Employer matching contribution calculation was signed on Jan 30, 2024.

In addition to the Plan, a collective Pension Savings plan (“PERCO”) was established for Procter & Gamble Holding France S.A.S and its subsidiaries (Procter & Gamble France S.A.S., Procter & Gamble Blois S.A.S since January 2013 and Procter & Gamble Amiens S.A.S since June 2016). An amendment to the PERCO agreement was signed at the end of 2024 to transform it into a "PER Collectif" (still a Collective retirement saving plan) allowing a more favourable taxation to employees vs PERCO.

Procter & Gamble Holding France S.A.S. is indirectly a wholly owned subsidiary of The Procter & Gamble Company (the “Parent”). The Plan and the "PER Collectif" are subject to the laws and regulations of France. The assets of the Plan and of the "PER Collectif" are invested in five “Fonds Commun de Placement d’Entreprise” (“FCPE”) which are registered investment funds reserved to employees of “P&G France” subject to the laws and regulations of France. The plan’s financial statements are a combination of the 5 FCPE.

Administration Administration of the Plan and of the "PER Collectif" are executed by Procter & Gamble Holding France S.A.S. with the support of Vega Investment Solutions (previously Natixis Investments Managers International), the fund manager. The five FCPE are under the supervision of the “Conseils de Surveillance” (“Monitoring Committees”) which are composed of both employee and employer representatives of “P&G France”.

Participants Accounts and Investments Options — An account is maintained for each employee and reflects employee and employer contributions as well as employee withdrawals. There is no provision for the allocation of income since the FCPE’s do not pay dividends. Participants are permitted to invest into any of the five FCPE’s; however, employees contributions generating a P&G matching contribution can only be invested in FCPE Groupe Procter & Gamble (Option D). Amounts may be transferred from one FCPE to another FCPE for both blocked and available funds with the exception of FCPE Groupe Procter & Gamble (Option D) out of which only unblocked funds may be transferred.

Participants may allocate their account balances to one or all of the following investment options offered by the Plan:
FCPE Groupe Procter & Gamble Actions (Option A) – The prospectus indicates that this fund is primarily invested in international equities or in mutual funds which invest in international equities with a
minimum of 60% (and maximum 90%) and with a minimum of 25% (and maximum 60%) in international fixed income products.

FCPE Groupe Procter & Gamble Obligations (Option B) – The prospectus indicates that this fund is primarily invested in Eurozone monetary products or in mutual funds which invest primarily in Eurozone monetary products.

FCPE Groupe Procter & Gamble 5000 (Option C) – The prospectus indicates that this fund is exposed to a maximum 115% of its assets in international equities or in mutual funds invested in international equities (Europe, United States, Japan and Asia emerging countries) and with a maximum of 10% invested in fixed income products.

FCPE Groupe Procter & Gamble (Option D) – The prospectus indicates that this fund is invested at 66.66% maximum in The Procter & Gamble Company common stock and with a minimum of 33.33% invested in US/Euro zone monetary products.

FCPE Groupe Procter & Gamble (Option F) – The prospectus indicates that this fund is invested at 80% in international bonds or in mutual funds which invest in international bonds, at 20% in “socially responsible investment” Euro bonds or in mutual funds which invest in “socially responsible” Euro bonds.

For the "PER Collectif", investments in Option D are not possible. The other Options are accessible at the discretion of the employee.

Contribution and Vesting Employees are eligible to the Plan three months after their start date with “P&G France”. Contributions are made by Plan participants as well as by “P&G France” as follows:

Employees’ Contributions:

-    Voluntary, periodic contributions – These are usually contributed on a monthly basis. They are eligible for matching contributions from P&G France. These contributions are automatically invested in Option D.

-    Voluntary, complementary contributions – Employees may make complementary contributions whenever they wish although these amounts receive no matching contributions. These contributions are invested at the discretion of the employee in one of the five FCPE’s.

Employers’ Contributions:

-    Employer matching contributions – P&G France makes a matching contribution of 100% of Employee contribution for investment between €7.62 and €80 maximum) and of 50% of Employee contribution for investment between €80.01 and €275 euros maximum) per month, with a maximum threshold of €177.50. These matching contributions are automatically invested in Option D.

-    Profit Sharing – P&G France calculates and distributes profit sharing contributions according to French law (“Participation”) as well as a supplementary profit-sharing agreement (“Interessement”). These amounts are invested at the discretion of the employee in one of the five FCPE’s. If no investment direction is given by the employee, amounts are automatically invested either as per the last investment choice or, by default, in Option B (with a 50/50 split between PEE and "PER Collectif" for “Participation”, and 100% to PEE for “Interessement”.

All contributions are immediately 100 percent vested.

Contributions to the "PER Collectif" can be made by the employees through i) voluntary periodic contributions, ii) investment of the profit-sharing contribution and iii) investment of remaining vacation days (up to 10 per fiscal year) for which “P&G France” will contribute under certain age conditions.
Withdrawals — All contributions to the Plan are “blocked” for a period of five years beginning on October 1st of the calendar year in which the contribution was made. After this period, amounts are available for withdrawal without restriction. Under certain circumstances, as defined by law, a participant may withdraw “blocked” contributions. All amounts become immediately available for withdrawal upon the termination of employment.

Plan Termination – The Plan agreement was renewed by written agreement between “P&G France” and their related Work councils in December 2014 with effective date January 1st, 2015, for an indefinite period.
In the event of Plan termination, the FCPE’s will either remain active or will be merged with other FCPE’s. Thus, Plan participants will have the option to withdraw “unblocked” amounts or to remain invested. Future employee and employer contributions to the Plan would then be suspended.
PLAN PARTICIPANTS
As of June 30, 2025, the Plan had 2,251 participants investing in the Plan (vs 2,240 as of June 30, 2024) whereas 853 employees (807 as of June 30, 2024) chose to collect their year group profit sharing rather than invest in the plan.
v3.25.2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) - EBP France
12 Months Ended
Jun. 30, 2025
EBP, Accounting Policy [Line Items]  
Basis of Accounting
Basis of Accounting — The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America.
Use of Estimates
Use of Estimates — The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, and changes therein and disclosure of contingent assets and liabilities. Actual results could differ from those estimates.
Employer and participant’s contributions reflect the estimated total investments in the Plan, based on prior year behavior.
Risks and Uncertainties
Risks and Uncertainties — The Plan utilizes various investment instruments as described in Note 1. Investment securities, in general, are exposed to various risks, such as interest rate, credit, and overall market volatility. Due to the level of risk associated with certain investment securities, it is reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect the amounts reported in the financial statements.
Plan Investments
Plan Investments – The Plan’s investments are presented at fair-value based upon the net asset value of the units of each FCPE held by the Plan at year end. The net asset values of the FCPE’s are determined by the fund manager, Natixis Asset Management, based upon the fair value of the FCPE’s underlying investments, less any liabilities.
Purchases and sales of investments are recorded on a trade date basis. Dividends are recorded on the ex-dividend date. The cost of investments sold is determined using average cost.
Fair value measurements Fair value measurements – ASC 820, Fair Value Measurements and Disclosures, established a single authoritative definition of fair value, set as a framework for measuring fair value, and requires additional disclosures about fair value measurements. In accordance with ASC 820, the Plan classifies its investments into Level 1, which refers to securities valued using quoted prices from active markets for identical assets; Level 2 which refers to securities not traded on an active market but for which observable market inputs are readily available; and Level 3, which refers to securities valued based on significant unobservable inputs. Assets are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.
Expenses of the Plan
Expenses of the Plan – Investment management, record keeping expenses, and other administrative expenses are paid by P&G Holding France S.A.S. Brokerage commissions are paid by the participants, and other costs related to the purchase or sale of shares are reflected in the price of the shares and borne by the participants.
Contributions Receivable
Contributions Receivable – Contributions that are pending transfer to the Fund manager as of June 30, 2025, and 2024 are recorded as contributions receivable to the Plan in the accompanying financial statements.
Payment of Benefits
Payment of Benefits – Benefit payments to participants are recorded upon distribution. There were no amounts allocated to accounts of persons who have elected to withdraw from the Plan but have not been yet paid on June 30, 2025, and 2024.
v3.25.2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
12 Months Ended
Jun. 30, 2025
EBP France  
EBP, Accounting Policy [Line Items]  
Summary of Investments at Fair Value
The following table sets forth by level within the hierarchy a summary of the Plan’s investments measured at fair value on a recurring basis on June 30, 2025.
20252024
Asset GroupLevel 1Level 2Level 3Level 1Level 2Level 3
Procter & Gamble Company common stock134,927,478 145,525,742 
Other investments77,442,079 73,247,110 
TOTAL212,369,557 218,772,852 
v3.25.2
INVESTMENTS (Tables)
12 Months Ended
Jun. 30, 2025
EBP France  
EBP, Schedule of Asset Held for Investment [Line Items]  
Summary Of Investments Held By The Plan
Investments held by the Plan on June 30, 2025, and 2024 were as follows:

20252024
(All numbers in Euros)NumberMarketNumberMarket
of SharesValue in €urosof SharesValue in €uros
Investments of each FCPE
• Groupe Procter & Gamble Actions (Option A)*192,065 29,173,094 194,092 27,532,125 
• Groupe Procter & Gamble Obligations (Option B)*544,436 16,351,548 564,123 16,434,869 
• Groupe Procter & Gamble 5000 (Option C)*647,345 27,681,676 626,974 25,212,059 
• Groupe Procter & Gamble (Option D)* 316,429 134,927,478 322,261 145,525,742 
• Groupe Procter & Gamble Obligations (Option F)*2,720,879 4,235,761 2,724,576 4,068,056 
Total investments212,369,557 218,772,852 
*Represents investments which exceed five percent of net assets available for benefits
The Plan’s investments experienced unrealized (depreciation) appreciation in value as follows for the years ended June 30, 2025, 2024 and 2023:

(All numbers in Euros)202520242023
  
The Procter & Gamble Company Common stock (FCPE Option D)  
Cost101,281,311 93,635,079 64,459,308 
Market value134,927,478 145,525,742 140,691,705 
Unrealized appreciation (depreciation)33,646,167 51,890,663 76,232,396 
   
(Decrease) increase in unrealized appreciation(18,244,496)(24,341,734)(4,251,157)
   
Other investments (FCPE Option A, B, C, F)   
Cost66,673,078 61,468,575 57,801,655 
Market value77,442,079 73,247,110 66,923,059 
Unrealized appreciation (depreciation)10,769,000 11,778,535 9,121,404 
   
Increase (decrease) in unrealized appreciation(1,009,535)2,657,131 2,355,285 
The realized gain (loss) on the sales of the Plan’s investments for the years ended June 30, 2025, 2024, and 2023 was determined as follows:

(All numbers in Euros)202520242023
  
The Procter & Gamble Company Common stock   
Proceeds on sales of shares30,075,121 75,122,493 13,207,083 
Cost21,296,969 36,804,241 7,250,487 
Realized (loss) gain8,778,152 38,318,252 5,956,596 
   
Other investments   
Proceeds on sales of shares54,472,212 41,364,927 15,798,977 
Cost49,261,953 37,454,737 15,019,566 
Realized (loss) gain5,210,259 3,910,190 779,411 
v3.25.2
NON-PARTICIPANT - DIRECTED INVESTMENTS (Tables)
12 Months Ended
Jun. 30, 2025
EBP France  
EBP, Nonparticipant-Directed Investment [Line Items]  
Schedule of Net Assets and Changes in Net Assets for Non-Participant Directed Investments
Information about the net assets and the significant components of the changes in net assets relating to the non- participant directed investments as of June 30, 2025, 2024 and 2023 is as follows:
(All numbers in Euros)202520242023
  
Net assets:   
P&G Company Stock (FCPE Option D) - beginning of year145,525,742 140,691,705 138,319,301 
   
Changes in net assets:   
  Net appreciation (depreciation) in fair value of investments(7,810,847)16,253,146 4,164,204 
  Participant contributions5,035,349 4,797,285 4,640,541 
  Employer contributions6,587,969 5,777,217 5,945,539 
  Benefits paid to participants(14,410,736)(21,993,611)(12,377,880)
           Net change(10,598,264)4,834,037 2,372,404 
  
P&G Company Stock (FCPE Option D)—end of year134,927,478 145,525,742 140,691,705 
v3.25.2
DESCRIPTION OF THE PLAN (Details) - EBP France
12 Months Ended
Jun. 30, 2025
EUR (€)
fund
Jun. 30, 2024
EUR (€)
EBP, Description of Plan [Line Items]    
Number of reserved registered investment funds | fund 5  
Requisite service period (in months) 3 months  
Participant contribution € 3,914,803 € 2,670,669
Employer contribution maximum investment threshold € 177.50  
Withdrawal restriction period (in years) 5 years  
EBP, Voluntary Complementary Employee Contributions    
EBP, Description of Plan [Line Items]    
Participant contribution € 0  
EBP, Employer Matching Contribution, Threshold One    
EBP, Description of Plan [Line Items]    
Employer contribution matching percentage 100.00%  
EBP, Employer Matching Contribution, Threshold One | Minimum    
EBP, Description of Plan [Line Items]    
Employer contribution investment threshold € 7.62  
EBP, Employer Matching Contribution, Threshold One | Maximum    
EBP, Description of Plan [Line Items]    
Employer contribution investment threshold € 80  
EBP, Employer Matching Contribution, Threshold Two    
EBP, Description of Plan [Line Items]    
Employer contribution matching percentage 50.00%  
EBP, Employer Matching Contribution, Threshold Two | Minimum    
EBP, Description of Plan [Line Items]    
Employer contribution investment threshold € 80.01  
EBP, Employer Matching Contribution, Threshold Two | Maximum    
EBP, Description of Plan [Line Items]    
Employer contribution investment threshold € 275  
EBP, Profit Sharing Contributions, Company Savings Plan    
EBP, Description of Plan [Line Items]    
Employer contribution when no investment direction given, automatic investment, participation 50.00%  
Employer contribution when no investment direction given, automatic investment, interessement 100.00%  
EBP, Profit Sharing Contributions, Pension Savings Plan    
EBP, Description of Plan [Line Items]    
Employer contribution when no investment direction given, automatic investment, participation 50.00%  
EBP, Profit Sharing Contributions    
EBP, Description of Plan [Line Items]    
Company contribution vesting percentage 100.00%  
EBP, Pension Savings Plan Contributions    
EBP, Description of Plan [Line Items]    
Maximum investment of remaining vacation days per year 10 days  
Investment, Identifier [Axis]: Groupe Procter & Gamble (Option D)    
EBP, Description of Plan [Line Items]    
Maximum fund investment in monetary products (in percent) 33.33%  
Maximum fund investment in common stock (in percent) 66.66%  
Investment, Identifier [Axis]: Groupe Procter & Gamble (Option F)    
EBP, Description of Plan [Line Items]    
Fund investment in bonds or mutual funds (in percent) 80.00%  
Fund investment in socially responsible bonds or mutual funds (in percent) 20.00%  
Investment, Identifier [Axis]: Groupe Procter & Gamble 5000 (Option C)    
EBP, Description of Plan [Line Items]    
Maximum fund investment in fixed income products (in percent) 10.00%  
Maximum fund investment in equities or mutual funds (in percent) 115.00%  
Investment, Identifier [Axis]: Groupe Procter & Gamble Actions (Option A)    
EBP, Description of Plan [Line Items]    
Minimum fund investment in equities (in percent) 60.00%  
Maximum fund investment in equities (in percent) 90.00%  
Minimum fund investment in fixed income products (in percent) 25.00%  
Maximum fund investment in fixed income products (in percent) 60.00%  
v3.25.2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - EBP France - EUR (€)
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
EBP, Investment, Fair Value and NAV [Line Items]      
Total investments € 212,369,557 € 218,772,852  
Procter & Gamble Company common stock      
EBP, Investment, Fair Value and NAV [Line Items]      
Total investments 134,927,478 145,525,742 € 140,691,705
Other investments      
EBP, Investment, Fair Value and NAV [Line Items]      
Total investments 77,442,079 73,247,110 € 66,923,059
Fair Value, Inputs, Level 1      
EBP, Investment, Fair Value and NAV [Line Items]      
Total investments 212,369,557 218,772,852  
Fair Value, Inputs, Level 1 | Procter & Gamble Company common stock      
EBP, Investment, Fair Value and NAV [Line Items]      
Total investments 134,927,478 145,525,742  
Fair Value, Inputs, Level 1 | Other investments      
EBP, Investment, Fair Value and NAV [Line Items]      
Total investments € 77,442,079 € 73,247,110  
v3.25.2
INVESTMENTS - Investments Held (Details) - EBP France - EUR (€)
Jun. 30, 2025
Jun. 30, 2024
EBP, Schedule of Asset Held for Investment [Line Items]    
Total investments € 212,369,557 € 218,772,852
Investment, Identifier [Axis]: Groupe Procter & Gamble (Option D)    
EBP, Schedule of Asset Held for Investment [Line Items]    
Number of Shares (in shares) 316,429 322,261
Total investments € 134,927,478 € 145,525,742
Investment, Identifier [Axis]: Groupe Procter & Gamble 5000 (Option C)    
EBP, Schedule of Asset Held for Investment [Line Items]    
Number of Shares (in shares) 647,345 626,974
Total investments € 27,681,676 € 25,212,059
Investment, Identifier [Axis]: Groupe Procter & Gamble Actions (Option A)    
EBP, Schedule of Asset Held for Investment [Line Items]    
Number of Shares (in shares) 192,065 194,092
Total investments € 29,173,094 € 27,532,125
Investment, Identifier [Axis]: Groupe Procter & Gamble Obligations (Option B)    
EBP, Schedule of Asset Held for Investment [Line Items]    
Number of Shares (in shares) 544,436 564,123
Total investments € 16,351,548 € 16,434,869
Investment, Identifier [Axis]: Groupe Procter & Gamble Obligations (Option F)    
EBP, Schedule of Asset Held for Investment [Line Items]    
Number of Shares (in shares) 2,720,879 2,724,576
Total investments € 4,235,761 € 4,068,056
v3.25.2
INVESTMENTS - Unrealized (Depreciation) Appreciation (Details) - EBP France - EUR (€)
12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
EBP, Schedule of Asset Held for Investment [Line Items]      
Market value € 212,369,557 € 218,772,852  
Procter & Gamble Company common stock      
EBP, Schedule of Asset Held for Investment [Line Items]      
Cost 101,281,311 93,635,079 € 64,459,308
Market value 134,927,478 145,525,742 140,691,705
Unrealized appreciation (depreciation) 33,646,167 51,890,663 76,232,396
(Decrease) increase in unrealized appreciation (18,244,496) (24,341,734) (4,251,157)
Other investments      
EBP, Schedule of Asset Held for Investment [Line Items]      
Cost 66,673,078 61,468,575 57,801,655
Market value 77,442,079 73,247,110 66,923,059
Unrealized appreciation (depreciation) 10,769,000 11,778,535 9,121,404
(Decrease) increase in unrealized appreciation € (1,009,535) € 2,657,131 € 2,355,285
v3.25.2
INVESTMENTS - Realized Gain (Loss) On Sales (Details) - EBP France - EUR (€)
12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Procter & Gamble Company common stock      
EBP, Schedule of Asset Held for Investment [Line Items]      
Proceeds on sales of shares € 30,075,121 € 75,122,493 € 13,207,083
Cost 21,296,969 36,804,241 7,250,487
Realized (loss) gain 8,778,152 38,318,252 5,956,596
Other investments      
EBP, Schedule of Asset Held for Investment [Line Items]      
Proceeds on sales of shares 54,472,212 41,364,927 15,798,977
Cost 49,261,953 37,454,737 15,019,566
Realized (loss) gain € 5,210,259 € 3,910,190 € 779,411
v3.25.2
NON-PARTICIPANT - DIRECTED INVESTMENTS (Details) - EBP France - EUR (€)
12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
EBP, Change in Net Asset Available for Benefit [Roll Forward]      
Beginning of year € 225,646,238 € 213,583,914 € 209,655,656
Participant contributions 6,135,332 5,526,508 5,393,765
Employer contributions 8,682,778 9,434,257 8,455,057
NET INCREASE (DECREASE) (7,624,042) 12,062,324 3,928,258
End of year 218,022,196 225,646,238 213,583,914
EBP, Nonparticipant-Directed      
EBP, Change in Net Asset Available for Benefit [Roll Forward]      
Beginning of year 145,525,742 140,691,705 138,319,301
Net appreciation (depreciation) in fair value of investments (7,810,847) 16,253,146 4,164,204
Participant contributions 5,035,349 4,797,285 4,640,541
Employer contributions 6,587,969 5,777,217 5,945,539
Benefits paid to participants (14,410,736) (21,993,611) (12,377,880)
NET INCREASE (DECREASE) (10,598,264) 4,834,037 2,372,404
End of year € 134,927,478 € 145,525,742 € 140,691,705
v3.25.2
RELATED PARTY TRANSACTIONS (Details) - EBP France - EUR (€)
12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
EBP, Related Party and Party-in-Interest Transactions [Line Items]      
Investment, fair value € 212,369,557 € 218,772,852  
Dividend income € 1,654,439 € 2,271,107 € 2,461,212
Procter & Gamble Company common stock      
EBP, Related Party and Party-in-Interest Transactions [Line Items]      
Investment, number of shares (in shares) 638,400 624,150  
Investment, cost basis € 101,281,311 € 93,635,079 64,459,308
Investment, fair value 134,927,478 145,525,742 140,691,705
Dividend income 1,654,439 2,271,107 2,461,212
Net appreciation (depreciation) in fair value of investments € (9,466,344) € 13,976,519 € 1,705,439
v3.25.2
PLAN PARTICIPANTS (Details) - EBP France
12 Months Ended
Jun. 30, 2025
participant
employee
Jun. 30, 2024
employee
participant
EBP, Description of Plan [Line Items]    
Number of participants | participant 2,251 2,240
Number of employees collecting year group profit sharing | employee 853 807