PG · 10-K · 2026A · Full report

FX / Currency Impact

PROCTER & GAMBLE Co · 2026-08-04 · Importance 25 · Surprise 32

Foreign exchange was favorable to Baby, Feminine & Family Care net sales by 2% in fiscal 2026, while reported sales growth was partly offset by a 1% unit-volume decline. The segment benefited from favorable FX in Baby Care, particularly in Greater China and IMEA, and in Feminine Care, alongside geographic mix and pricing. P&G also identified further currency devaluation against the U.S. dollar as a potential risk to Gillette cash flows and intangible-asset valuation, with spot rates used for non-U.S. cash-flow estimates.

Key facts

• Foreign exchange impacts increased net earnings by approximately $224 million due to a strengthening of certain currencies against the U.S. dollar. source
• Gross margin decline included 10 basis points of unfavorable foreign exchange impacts. source