PG · 10-Q · 2026Q3 · Full report

Liquidity and Debt Position

PROCTER & GAMBLE Co · 2026-10-22 · Importance 50 · Surprise 24 · In source text

Financing activities generated $1.1 billion of net cash fiscal year to date, primarily from a net debt increase related to the planned Thorne acquisition. Dividends and treasury-stock purchases partially offset the financing cash inflow. At September 30, 2026, current liabilities exceeded current assets by $12.5 billion. P&G stated that operating cash flow, commercial paper and bond-market refinancing capacity, supported by strong short- and long-term debt ratings, are expected to fund short-term liquidity and operating needs.

Key facts

• As of September 30, 2026, the Company's current liabilities exceeded current assets by $12.5 billion. source
• The Company expects to support short-term liquidity and operating needs largely through cash generated from operations and has agreements with financial institutions to provide short-term funding if needed. source
• Financing activities generated $1.1 billion of net cash fiscal year to date, mainly due to a net debt increase related to the planned acquisition of Thorne. source
• Other non-operating income/(expense), net was $207 million for the quarter, a decrease of $61 million versus the prior year period. source
• Other impacts consumed additional cash of $204 million primarily driven by a reduction in postretirement benefit and compensation accruals, partially offset by current year income tax accruals in excess of estimated payments. source
• Interest income for the quarter was $102 million, a decrease of $6 million versus the prior year period. source

Impact estimates