01—Abstract
Summary
Summary of the 8-K filed January 17, 2012. Cited figures are marked; the original filing is the authoritative source.
Procter & Gamble (PG) has filed an 8-K to disclose changes in its segment reporting structure, effective for fiscal year 2012.
The company has realigned its Beauty & Grooming Global Business Units (GBUs) to be product-oriented rather than consumer-oriented. Specifically, female blades and razors have moved from the Beauty segment to Grooming, while Old Spice and Gillette male personal care products have moved from Grooming to Beauty.
This filing provides pro forma historical segment results for key periods in 2010 and 2011 to reflect these changes, allowing investors to analyze financial performance under the new structure. It's important to note that these adjustments do not revise the company's previously reported Consolidated Statements of Earnings, Balance Sheets, or Cash Flows.
02—Key points
Key Highlights
- Procter & Gamble is updating its segment reporting structure for fiscal year 2012, moving from consumer-oriented to product-oriented segment breakouts within Beauty & Grooming.
- Female blades and razors are now reported under the Grooming segment, previously part of Beauty.
- Old Spice and Gillette male personal care products have been moved from the Grooming segment to the Beauty segment.
- The 8-K provides pro forma historical segment data for the three months ended September 30, 2010, December 31, 2010, September 30, 2011, and the six months ended December 31, 2010.
- These segment changes are effective beginning with the fiscal year 2012 reporting period, starting with the Form 10-Q for the quarter ended December 31, 2011.
- The filing explicitly states that these pro forma adjustments do not revise or restate the company's official Consolidated Financial Statements.
- This disclosure is made under Regulation FD to ensure all investors have access to the same information regarding the structural changes.
03—Questions
Frequently Asked Questions
Why is Procter & Gamble changing its segment reporting structure?
Procter & Gamble is changing its segment reporting structure to a product-oriented approach within the Beauty & Grooming Global Business Units (GBUs) starting in fiscal year 2012. This aims to provide a clearer reflection of product categories and their performance.
What specific product lines are being moved between segments?
Female blades and razors are moving from the Beauty segment to the Grooming segment. Conversely, Old Spice and Gillette male personal care products are moving from the Grooming segment to the Beauty segment.
Does this change affect previously reported financial results?
No, this filing provides pro forma historical data for analysis under the new structure. It explicitly states that these changes do not revise or restate the company's previously issued Consolidated Statements of Earnings, Balance Sheets, or Cash Flows.
When will these new segment reporting changes be reflected in official financial filings?
The new segment reporting structure will be reflected in the company's consolidated financial statements and segment reporting beginning in fiscal year 2012, starting with the Form 10-Q filing for the three months ended December 31, 2011.
04—Continue