Slides
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CAGNY 2026
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SAFE HARBOR STATEMENT This presentation contains forward-looking statements, including, among others, statements relating to net sales and earnings growth; gross margin changes; trade, marketing, and SG&A spending inflation; sufficiency of cash flows from operations; earnings per share; cost savings programs; consumer demand and spending; the effects of competition; the effect of product mix; volume growth, including the effects of new product launches into new and existing categories; the impact of acquisitions; and capital expenditures. Other forward-looking statements in this release may be identified by the use of such terms as “may,” “could,” “expect,” “intend,” “believe,” “plan,” “estimate,” “outlook,” “forecast,” “project,” “anticipate,” “to be,” “to make” or other comparable terms. These statements represent the intentions, plans, expectations and beliefs of the Company, and are based on assumptions that the Company believes are reasonable but may prove to be incorrect. In addition, these statements are subject to risks, uncertainties and other factors, many of which are outside the Company’s control and could cause actual results to differ materially from such forward-looking statements. Factors that could cause such differences include a decline in market growth, retailer distribution and consumer demand (as a result of, among other things, political, economic and marketplace conditions and events), including those relating to the outbreak of contagious diseases; market volatility and impact on the economy (including contributions to recessionary conditions); the impact of new regulations and legislation and change in regulatory priorities; transition to, and shifting economic policies in the United States; potential changes in export/import and trade laws, regulations and policies of the United States and other countries, including any increased trade restrictions or tariffs; increased or changing regulation regarding the Company’s products and its suppliers in the United States and other countries where it or its suppliers operate; the impact on the global economy of the Russia/Ukraine war and increased conflict in the Middle East, including the impact of export controls and other economic sanctions; potential recessionary conditions or economic uncertainty; the impact of continued shifts in consumer behavior, including accelerating shifts to on-line shopping; unanticipated increases in raw material and energy prices, including as a result of the Russia/Ukraine war, increased conflict in the Middle East or other inflationary pressures; delays and increased costs in manufacturing and distribution; increases in transportation costs; labor shortages; the impact of price increases for our products; the impact of inflationary conditions; the impact of supply chain and labor disruptions; the impact of severe or inclement weather on raw material and transportation costs; adverse developments affecting the financial condition of major customers and suppliers; competition; changes in marketing and promotional spending; growth or declines in various product categories and the impact of customer actions in response to changes in consumer demand and the economy, including increasing shelf space or on-line share of private label and retailer-branded products or other changes in the retail environment; impairment charges or other negative impacts to the value of the Company’s assets; consumer and competitor reaction to, and customer acceptance of, new product introductions and features; the Company’s ability to maintain product quality and characteristics at a level acceptable to our customers and consumers; disruptions in the banking system and financial markets; the Company’s borrowing capacity and ability to finance its operations and potential acquisitions; higher interest rates; foreign currency exchange rate fluctuations; market volatility; issues relating to the Company’s information technology and controls; the impact of natural disasters, including those related to climate change, on the Company and its customers and suppliers, including third party information technology service providers; integrations of acquisitions or divestiture of assets; the outcome of contingencies, including litigation, pending regulatory proceedings and environmental matters; and changes in the regulatory environment in the countries where we do business. For a description of additional factors that could cause actual results to differ materially from the forward-looking statements, please see Item 1A, “Risk Factors” in the Company’s annual report on Form 10-K and quarterly reports on Form 10-Q. The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by the U.S. federal securities laws. You are advised, however, to consult any further disclosures the Company makes on related subjects in its filings with the United States Securities and Exchange Commission. This presentation also contains non-GAAP financial information. Management uses this information in its internal analysis of results and believes that this information may be informative to investors in gauging the quality of the Company’s financial performance, identifying trends in its results and providing meaningful period-to-period comparisons. The Company has included reconciliations of these non-GAAP financial measures to the most directly comparable financial measure calculated in accordance with GAAP. See the end of this press release for these reconciliations. These non-GAAP financial measures should not be considered in isolation or as a substitute for the comparable GAAP measures. In addition, these non-GAAP financial measures may not be the same as similar measures provided by other companies due to potential differences in methods of calculation and items being excluded. They should be read in connection with the Company’s financial statements presented in accordance with GAAP.
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3CHURCH & DWIGHT CO., INC. A Look back at 2025 • Grew faster than categories across all three divisions • 4 of 8 power brands increased their market share • Hero and TheraBreath growing double digits globally • Strong Innovation and Marketing Spend supporting growth • Acquisition of Touchland
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4CHURCH & DWIGHT CO., INC. 2025 Choices Positions the Company for the Future • Tariff response and mitigation • Portfolio changes executed - Divested Spinbrush and Vitamins and shutdown Flawless and Showerheads • Strong Balance Sheet 1.6x leverage ratio and Cash Generation enable additional growth
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5CHURCH & DWIGHT CO., INC. Strategic Changes Have Strengthened our Portfolio Church & Dwight had 1% consumption growth in 2025. Excluding the brands we made portfolio choices on….Consumption growth in 2025 would have been 3.5%.
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6CHURCH & DWIGHT CO., INC. Evergreen Model Organic Sales +4% Gross Margin +25 to +50 bps Marketing ~11% SG&A -25 to 0 bps Operating Margin +50 bps EPS Growth +8% Domestic: 3% International: 8% SPD: 5%
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7CHURCH & DWIGHT CO., INC. Strong TSR Performance Among Peers 10 YEAR 8.5% 5 YEAR 0.4% 3 YEAR 2.5% 2025 -18.9% Note: TSR as of 02.13.26 *Ranked among peers including Newell Brands, Edgewell, Clorox, Colgate, Energizer, Reckitt, P&G, Unilever, Kimberly Clark 2026 YTD 21.0% #2 #3 #2 #5 #5Rank*
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8CHURCH & DWIGHT CO., INC. Church & Dwight is Unique – Strong Organic and M&A Capability Combined $0 $200 $400 $600 $800 $1,000 $1,200 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 FCF ($MM) $0 $1,000 $2,000 $3,000 $4,000 $5,000 $6,000 $7,000 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Net Sales ($MM) $0.00 $0.50 $1.00 $1.50 $2.00 $2.50 $3.00 $3.50 $4.00 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 EPS 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Organic Sales 2003 - 2025 CAGR: 9.2% 2003 - 2025 CAGR: 11.6% 2007 - 2025 CAGR: 4.1% 2003 - 2025 CAGR: 11.9% Note: Organic sales, adjusted EPS and FCF are non-GAAP measures. Refer to the Appendix for a reconciliation to the most directly comparable GAAP measures.
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WHO WE ARE
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10CHURCH & DWIGHT CO., INC. 77% Domestic Church & Dwight’s Business Segments 18% 5% International Specialty Products Division 2025 Total Company Net Sales: $6.2B
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POWER BRANDS
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more than of sales & profits are represented by these 75% 7 POWER BRANDS
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We Have a Winning Formula A Balanced and Diversified Portfolio1 Low Private Label Exposure2 Online Success3 Strong, Consistent, Category Leading Innovation4 Acquisitive Company5
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14CHURCH & DWIGHT CO., INC. 45% Personal Care 2025 5% 50% SPD Household A Balanced and Diversified Portfolio1
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15CHURCH & DWIGHT CO., INC. 64%36% Value Premium Product Portfolio of Both Value and Premium Products 2025
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16CHURCH & DWIGHT CO., INC. 0% 5% 10% 15% 2020 2021 2022 2023 2024 2025 2026E Weighted Average Private Label Share of Our Categories Source: Circana; Total US – MULO+. Low Private Label Exposure2
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17CHURCH & DWIGHT CO., INC. eCommerce continues to accelerate for our brands 2% 24% 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 % of Global Church & Dwight Consumer Net Sales Note: update Online Success3
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18CHURCH & DWIGHT CO., INC. New products fuel the Company’s organic growth each year. Strong and Consistent Category Leading Innovation4
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19CHURCH & DWIGHT CO., INC. Primarily #1 or #2 share brands High growth and high margin brands that are fast moving consumables Asset light Leverage C&D manufacturing, logistics and purchasing Deliver sustainable competitive advantage Asset light Acquisitive Company5 We Have Clear Acquisition Criteria
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20CHURCH & DWIGHT CO., INC. $1.5 $2.9 $3.2 $5.2 $5.4 $6.2 200420052006200720082009201020112012 201320142015201620172018201920202021 2022202320242025 Note: Trojan, Nair and First Response acquired in two parts – 2001 and 2004. Net Sales ($B) Long History of Growth Through Acquisitions v v +$1.4B growth +$2.0B growth
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GROWTH INITIATIVES 3.
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22CHURCH & DWIGHT CO., INC. Category Growth Continues to Decelerate 4.5% 2.5% 2.1% 1.3% 1H 2024 2H 2024 1H 2025 2H 2025 CHD Category Growth 3.0% historical average
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23CHURCH & DWIGHT CO., INC. • One of the lowest scores in the last five years • Tariffs and inflation fears have caused the consumer sentiment to weaken 40 45 50 55 60 65 70 75 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Michigan Consumer Sentiment Index Consumer Sentiment Continues to Be Weak
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24CHURCH & DWIGHT CO., INC. Focused on Growth Initiatives Grow Arm & Hammer from $2B to $3B of Net Sales (Core Growth, Good· Better· Best, In-house Licenses, New Categories) Drive Oral Care Expansion Through TheraBreath from $1.0B to $1.5B Scale International Business & Invest to Drive Accelerated Growth with Focus on M&A from $1B to $2B
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25CHURCH & DWIGHT CO., INC. $1.0 $6.2 2000 2004 2005 2006 2008 2010 2011 2012 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Net Sales $ Billions We Have a Strong Track Record of Growth Behind A&H and Acquired Brands…and Expect to Continue to Grow the Core Note: Trojan, Nair and First Response acquired in two parts – 2001 and 2004. Arm & Hammer has Grown from $1B to ~$2B Due to Expansion of Laundry & Litter Core Acquisitions
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26CHURCH & DWIGHT CO., INC. How We Can Grow Arm & Hammer from $2B to $3B of Net Sales Grow the Core 0% 2% 4% 6% 8% 10% 12% 14% 16% 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Liquid Laundry Dollar Share 2006 - 2025 0% 5% 10% 15% 20% 25% 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Clumping Litter Dollar Share 2011 - 2025
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27CHURCH & DWIGHT CO., INC. Grow Arm & Hammer from $2B to $3B of Net Sales Reasons to Believe Proven that the A&H Equity can go Across Categories $11,624 $6,102 $4,793 $3,069 $269 Laundry Deodorant Toothpaste Clumping Litter Baking Soda 11.6% 0.8% 2.8% 23.4% 78.0% A&H Market Share 99% 98% 96% 94% 93% M… Ni… Cl… D… A… Brand Awareness Category A&H Launch Year Baking Soda 1846 Laundry 1970 Toothpaste 1987 Deodorant 1990 Litter 1992 Proven Ability to Win in Large Categories A&H Masterbrand has Strong Equity with Consumers A&H Category Size ($MM) Source: Circana Mulo+ L52W as of 12.28.25. A&H Advertising Halo Effect
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cooking & baking cleaning laundry deodorizing & refreshing personal carehealth & home remedies pet deodorization
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29CHURCH & DWIGHT CO., INC. Arm & Hammer Is Uniquely Extendable
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30CHURCH & DWIGHT CO., INC. The Most Common Uses of Baking Soda 42% 36% 32% 30% 29% 29% 28% 26% 24% 24% Mixing with vinegar for cleaning Deodorizing drains Bathtub and bathroom sink cleaning Deodorizing laundry Deodorizing trash cans Whitening/brightening laundry Toilet cleaning Cleaning hard surfaces around the house Removing stains from laundry Deodorizing carpet
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31CHURCH & DWIGHT CO., INC. Grow Arm & Hammer from $2B to $3B of Net Sales 1. Grow the Core 2. Good· Better· Best 3. New Categories 4. In-House Licensed Brands Good Better Best Laundry LLD Laundry UD Sheets Scent Booser Laundry Rinse Clumping Litter Cat Additives Carpet Deo Baking Soda Toothpaste ? ? ? ?
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Drive Oral Care Expansion Through TheraBreath
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33CHURCH & DWIGHT CO., INC. As We Grow, We Will Focus Our Resources on Large Categories that Can Accelerate Our Growth Detergent Scent Booster Litter Source: Circana Mulo+ L52W as of 12.28.25. Dental Care $11,624 $3,107 $884 $1,227 $577 $2,202 $627 $2,362 $4,793 Laundry Clumping Litter Stain Fighters Power Flossing Dry Shampoo Acne Care Hand Sanitizer Mouthwash Toothpaste Power Brand Category Size ($MM) Church & Dwight Key Brands
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34CHURCH & DWIGHT CO., INC. Room To Run In Rinse Sources: L: Circana; Total US – Multi Outlet+ YTD WE 12.21.25; R: Numerator Insights; *12ME 11.30.25, Rolling Average Weekly TPD % Chg vs YA 3.9% -5.6% 34.3% 1.3x 1.8x Average Weekly TDP Mouthwash Category 2020 67.2% 2.7% 2021 65.9% 3.3% 2022 64.2% 4.7% 2023 64.1% 7.7% 2024 65.6% 10.3% 2025* 65.4% 12.5% Household Penetration
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35CHURCH & DWIGHT CO., INC. Drive TheraBreath Oral Care Expansion Expand into Toothpaste ($3.8B Category) 36.5% 27.7% 21.2% 4.2% Toothpaste Market Share
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36CHURCH & DWIGHT CO., INC. Drive TheraBreath Oral Care Expansion into Toothpaste Best in Class Performance Better for You Superior Flavor and Epic Freshness Opportunity • Top benefits • Multiple clinical trials • Natural taste • Premium flavor complement rinses • Dentist formulated
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International Growth with Focus on M&A
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38CHURCH & DWIGHT CO., INC. 8.1% 10.0% 7.8% 7.8% 9.2% 8.6% 5.0% 2.8% 8.5% 9.0% 5.5% 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 International Consumer Organic Sales Organic sales growth is a non-GAAP measure. Refer to the Appendix for a reconciliation to the most directly comparable GAAP measure.
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39CHURCH & DWIGHT CO., INC. Track Record of Success Growing Acquired Brands $115 LTM Sales @ Acquisition 2025 ~3x $86 LTM Sales @ Acquisition 2025 ~3x $130 ~$180 LTM Sales @ Acquisition 2025 2030 ??? Sales ($MM) Sales ($MM) Sales ($MM)
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40CHURCH & DWIGHT CO., INC. Accelerate International Growth Acquire capabilities, brands & infrastructure Accelerate Investment in Local Manufacturing & Local Innovation Establish Subsidiary Markets in Select Asian Countries Enter New Markets Faster Accelerate Build Out of Capabilities Execute Accretive M&A
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CATEGORIES AND BRANDS
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42CHURCH & DWIGHT CO., INC. International8% US Domestic Sales Evergreen Target: +3% 4% 3% United States Specialty Products5%
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Our 7 Power Brands Fuel Our Growth
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44CHURCH & DWIGHT CO., INC. We Play in Healthy, Growing Categories Source: Circana; Total US – MULO+; YTD 2025 data through 12.21.2025 2021 2022 2023 2024 2025 Laundry Clumping Litter Stain Fighters Dry Shampoo Power Flossing Vitamin Gummies Mouthwash Acne 2025 Weighted Average: 1.8%
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45CHURCH & DWIGHT CO., INC. 2021 2022 2023 2024 2025 Arm & Hammer OxiClean Stain Fighters Batiste Waterpik Vitafusion TheraBreath Hero Touchland 4 of 6 5 of 7 4 of 7 4 of 7 4 of 8 Brand Scorecard 4 of 8 Gaining Share in 2025 Source: Circana; Total US – MULO+; YTD 2025 data through 12.21.2024; Waterpik includes Amazon 3P (‘23 – ’25)
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FABRIC CARE
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47CHURCH & DWIGHT CO., INC. Liquid Laundry Detergent Source: Circana: Total US – Multi Outlet+; Building Calendar Year 2025 Ending 12-21-25 $ Consumption Change vs. YAG 2025 1.4% 2.5% Category Arm & Hammer
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48CHURCH & DWIGHT CO., INC. Value Tier is Winning 0.0% -0.7% 0.7% Premium Mid Value Source: Circana MULO+, Laundry Detergent, 52WE 12/28/25 Dollar Sales Share Change vs. YAG by Price Tier Q4 2025
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49CHURCH & DWIGHT CO., INC. 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Arm & Hammer Laundry: Converting and Retaining Consumers Over the Long Term Source: 2020-2025: Circana: Total US – Multi Outlet+; A&H Liquid Laundry. 2025 Dollar Share as of 12.21.2025; Prior years from Circana MULO and/or Nielsen Liquid Laundry Dollar Share 2006 - 2025 all-time share high: 14.5%
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50CHURCH & DWIGHT CO., INC. Arm & Hammer is Now #1 in Washloads 18.1 18.7 19.4 19.8 20.2 20.6 20.4 20.2 20.5 19.9 CY 2021 CY 2022 CY 2023 CY 2024 CY 2025 Annual Washload Volume Share Source: Circana Scan Data, MULO+, CY2021-2025, WASHLOAD Volume Sales original Tide Primary CompetitorA&H LLD
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51CHURCH & DWIGHT CO., INC. Arm & Hammer Laundry Architecture: Good· Better· Best Good Better Best
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CAT LITTER
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53CHURCH & DWIGHT CO., INC. 19.4% 19.6% 2024 2025 A&H Litter: Strong Growth in a Competitive Environment Source: Circana Total US – Multi Outle+ Inc Pet; A&H Cat Litter. 2025 Dollar Share as of 12.21.2025 Cat Litter Dollar Share 3.8% 4.8% Category Arm & Hammer $ Consumption Change vs. YAG
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54CHURCH & DWIGHT CO., INC. Lightweight Fair Share is a $100MM Significant Opportunity 4.4% 8.4% Lightweight 2023 Lightweight 2025Source: Circana: Total US – Multi Outlet + (Inc Pet) as of 12.21.2025 A&H Share Of Clumping Litter Segment 27.0% Traditional Weight 2025 A&H HardBall has a 48% repeat rate,14pp higher vs category average
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MOUTHWASH & TOOTHPASTE
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56CHURCH & DWIGHT CO., INC. TheraBreath is Strongly Outpacing Category Source: Circana; Total US – Multi Outlet+; YTD 12.21.25 1.6% 27.3% Category TheraBreath $ Consumption Change vs. YAG 2025
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All Time Share High Achieved in 2025 4.3% 21.8% 2020 2021 2022 2023 2024 2025 Source: Circana: Total US – Multi Outlet+; Total Mouthwash. 2025 Dollar Share as of 12.21.2025 Total Mouthwash Dollar Share 2020 - 2025 No2 M OUT H WSAH
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58CHURCH & DWIGHT CO., INC. Growth Space In Paste $4B Third largest category in which CHD competes 69% Consumers investing more in premium oral care Category 89% TheraBreath buyers interested in purchase Brand +27% Brand Sales Growth
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ACNE
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61CHURCH & DWIGHT CO., INC. Total Acne Source: Circana: Total US – Multi Outlet+; L52 WE 12.21.25 4.0% 12.3% Category Hero $ Consumption Change vs. YAG 2025
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All Time Share High Achieved in 2025 5.5% 19.3% 2021 2022 2023 2024 2025 Source: Circana: Total US – Multi Outlet+ Total Acne. 2025 Dollar Share as of 12.21.25 No1 ACNE B R AND Total Acne Dollar Share 2021 - 2025
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63CHURCH & DWIGHT CO., INC. Hero Still Has A Lot Of Room To Run Sources: L: Circana: Total US – Multi Outlet+ L52 WE 12.21.25; Numerator Insights; *12ME 11.30.25, Rolling Average Weekly TDP Household Penetration Average Weekly TPD % Chg vs YA -0.9% 27.1% -8.5% 2.1x Acne Treatment Category 2021 21.8% 3.1% 2022 21.7% 4.7% 2023 23.9% 7.3% 2024 25.5% 8.7% 2025* 28.8% 9.0%
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64CHURCH & DWIGHT CO., INC. Growth Potential Across The Acne Life Cycle Blackheads, Clogged Pores, Oil Buildup First Signs/ Early Pimples Whiteheads Pimple Aftermath Scarring & Texture
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NEW PRODUCT INNOVATION
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66CHURCH & DWIGHT CO., INC. Continued New Product Success from our UNIQUE, Integrated Innovation Source Strategies Five Paths to Innovation Connect Diverse Competencies New Sources contribute more than 50% Pipeline Third Party Partners (2022)FutureWorks (2018) Classic NPD White Space (2022) Open Innovation (2018)
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67CHURCH & DWIGHT CO., INC. 2026 is Another Strong Innovation Year Driving High Incremental Net Sales Incremental Net Sales as a % of Sales Accelerating INS 1.5% - 2.0% (historically 1.0% - 1.5%) Pre-2023 2024+ 1.0% - 1.5% 1.5% - 2.0% 50% of organic growth 3.7 X in incremental dollars
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68CHURCH & DWIGHT CO., INC. TheraBreath Toothpaste Trojan G.O.A.T. Hero Cleansers Hero Invisible Liquid Patch New Product Innovation
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69CHURCH & DWIGHT CO., INC. Arm & Hammer Baking Soda Fresh Laundry Detergent Arm & Hammer Dual Defense Arm & Hammer Power Sheets PLUS OxiClean Arm & Hammer Odor Blasters Deep Rinse & Revitalize OxiClean Max Force New Product Innovation
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INTERNATIONAL AND SPD
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71CHURCH & DWIGHT CO., INC. International8% International Organic Sales Evergreen Target: +8% 4% 3% United States Specialty Products5%
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72CHURCH & DWIGHT CO., INC. International Sales Mix 2025 International Net Sales: $1.1B 4% Germany 33% 26% Canada Global Markets Group 6% France 8% Mexico 7% Australia 12% UK 4% Japan • 7 core subsidiaries • ~400 distributors • 100+ countries • 5 regional offices
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73CHURCH & DWIGHT CO., INC. 8.1% 10.0% 7.8% 7.8% 9.2% 8.6% 5.0% 2.8% 8.5% 9.0% 5.5% 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 International Consumer Organic Sales Organic sales growth is a non-GAAP measure. Refer to the Appendix for a reconciliation to the most directly comparable GAAP measure.
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74CHURCH & DWIGHT CO., INC. Geographic Expansion….International Runway Ahead
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75CHURCH & DWIGHT CO., INC. International OTC & Personal Care Brands Consumers Love that Travel the Globe Acquisition Rapid Global Expansion U.S. Brand and Leveraging NPD
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76CHURCH & DWIGHT CO., INC. Brands are Healthy and Driving Market Share Growth 6 of 7 Power Brands grew market share in 2025 within tracked subsidiaries
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77CHURCH & DWIGHT CO., INC. • Distributed in more than 75 countries in 2025 • #1 acne patch brand in 6 core subsidiary markets
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78CHURCH & DWIGHT CO., INC. Domestically Loved, Internationally Desired. Next in Line for Global Expansion
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79CHURCH & DWIGHT CO., INC. Local Consumer Insights and Regionally Led Innovation JAPAN: New Liquid formulation and formats launched in 2024 and will extend to other liquid focused markets. CHINA & JAPAN: Harmonized relaunch to compete more effectively with softer fragrance, smaller size, less intense spray speed, and less white residue.
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80CHURCH & DWIGHT CO., INC. Putting resource and commitment around International acquisition to help scale key markets and enter newly desirable geographies. Focused on International M&A
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CHURCH & DWIGHT CO., INC. SPECIALTY PRODUCTS
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82CHURCH & DWIGHT CO., INC. International8% SPD Organic Sales Evergreen Target: +8% 4% 3% United States Specialty Products5%
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83CHURCH & DWIGHT CO., INC. Specialty Products Division (SPD) 2025 SPD Net Sales: $300MM 60% 34% Specialty Chemicals Animal Nutrition 6% Commercial & Professional (B2B)
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84CHURCH & DWIGHT CO., INC. SPD Organic Sales Portfolio Strategy Global Expansion Marketing & Innovation 5.3% -3.4% -3.3% 0.4% 12.0% 3.7% -7.9% 7.1% 2.6% 2017 2018 2019 2020 2021 2022 2023 2024 2025
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HOW WE OPERATE
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We Have Five Operating Principles Leverage Assets We strive to be asset light Leverage Brands Brands consumers love around the world Friend of the Environment Long history of being a friend to the environment Leverage People Highly productive people in a place where people matter 1 2 3 4 Leverage Acquisitions Good shareholder returns become great shareholder returns 5 86
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We Have Five Operating Principles Leverage Assets We strive to be asset light Leverage Brands Brands consumers love around the world Friend of the Environment Long history of being a friend to the environment Leverage People Highly productive people in a place where people matter 1 2 3 4 Leverage Acquisitions Good shareholder returns become great shareholder returns 5 87
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We Have Five Operating Principles Leverage Assets We strive to be asset light Leverage Brands Brands consumers love around the world Leverage People Highly productive people in a place where people matter 3 4 Leverage Acquisitions Good shareholder returns become great shareholder returns 5 Friend of the Environment Long history of being a friend to the environment 2 88 1
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89CHURCH & DWIGHT CO., INC. Church & Dwight’s Environmental Heritage 100% of global electricity demand offset by green energy. Partnering with the Arbor Day Foundation to plant millions of trees in the Mississippi River Valley. 20182017 1888 Company introduces pro- environmental wall charts and trading cards as product promotion. Company institutes the use of recycled paperboard to package household products. One of the first corporate sponsors of the inaugural Earth Day. Launches first non-polluting, phosphate- free laundry detergent. 1907 1970s Commenced projects for Science Based Targets 2023 - present
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90CHURCH & DWIGHT CO., INC. High Rating Maintained for 4 Consecutive Years
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We Have Five Operating Principles Leverage Assets We strive to be asset light Leverage Brands Brands consumers love around the world 1 4 Leverage Acquisitions Good shareholder returns become great shareholder returns 5 Leverage People Highly productive people in a place where people matter 3 Friend of the Environment Long history of being a friend to the environment 2 91
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92CHURCH & DWIGHT CO., INC. Industry Leading Revenue Per Employee $1,118 CHD CLOROX PG Kenvue COLGATE KIMBERLY RECKITT EDGEWELL NEWELL Revenue per Employee Source: Most recent SEC filings (in ‘000s)
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93CHURCH & DWIGHT CO., INC. Bonuses are tied 100% to business results. Management is required to be heavily invested in company stock. Simple Compensation Structure Gross margin is 20% of all employees’ annual bonus. Strategic Initiatives Net Revenue Gross Margin Expansion Cash from Operations EPS
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We Have Five Operating Principles Leverage Brands Brands consumers love around the world Leverage Acquisitions Good shareholder returns become great shareholder returns 5 Friend of the Environment Long history of being a friend to the environment Leverage Assets We strive to be asset light 4 Leverage People Highly productive people in a place where people matter 3 94 1 2
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95CHURCH & DWIGHT CO., INC. 5.4% 2.5% 2.8% 2.5% 2.1% 2.1% 1.8% 1.4% 1.2% 1.4% 1.7% 2.0% 2.3% 3.3% 3.8% 2.9% 2.0% ~2% 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026E Minimal Capital Investment Capital Expenditures as a % of Sales $135 $64 $77 $75 $67 $71 $62 $50 $45 $60 $74 $99 $179$119 $224 $180 Outlook as of January 30, 2026 $122
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We Have Five Operating Principles Leverage Brands Brands consumers love around the world 1 Friend of the Environment Long history of being a friend to the environment Leverage People Highly productive people in a place where people matter 3 Leverage Acquisitions Good shareholder returns become great shareholder returns 5 Leverage Assets We strive to be asset light 4 96 2
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97CHURCH & DWIGHT CO., INC. $1.5 $2.9 $3.2 $5.2 $5.4 $6.2 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Note: Trojan, Nair and First Response acquired in two parts – 2001 and 2004. Net Sales ($B) Long History of Growth Through Acquisitions v v +$1.4B growth +$2.0B growth
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98CHURCH & DWIGHT CO., INC. We have confidence in our future. Expanding household penetration in the U.S. Sustainable high International growth rate Digitally savvy Portfolio changes and growth initiatives support a healthy Evergreen model Consistent innovation Focus on domestic and international M&A
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2025 FINANCIALS & 2026 OUTLOOK
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100CHURCH & DWIGHT CO., INC. FY OUTLOOK (as of October 31) ACTUALS Net Sales Growth +1.5% +1.6% Organic Sales +1.0% +0.7% Adjusted Gross Margin (40) bps Flat Marketing 11.0%+ 11.4% Adjusted EPS $3.49, +1.5% $3.53, +2.6% Cash from Operations ~$1.2B $1.2B FY 2025 Financial Highlights Domestic: -0.5% International: 5.5% SPD: 2.6% Organic sales and adjusted gross margin and adjusted EPS are non-GAAP measures. Refer to the Appendix for a reconciliation to the most directly comparable GAAP measures.
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101CHURCH & DWIGHT CO., INC. Evergreen Model Organic Sales +4% Gross Margin +25 to +50 bps Marketing ~11%, higher YOY $ SG&A -25 to 0 bps Operating Margin +50 bps EPS Growth +8% Organic sales and adjusted EPS are non-GAAP measures.. Refer to the Appendix for a reconciliation to the most directly comparable GAAP measures. Domestic: 3% International: 8% SPD: 5%
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102CHURCH & DWIGHT CO., INC. FY 2026 Financial Outlook Net Sales Growth - 1.5% to -0.5% Organic Sales Growth 3% to +4% Adjusted Gross Margin ~100 bps Marketing % ~11%+ Adjusted SG&A higher Operating Margin Profit ~ 80 to 100 bps Other Expense ~ $75M Effective Tax Rate ~21.5% Adjusted EPS Growth +5% to +8% Cash from Operations ~1.15B Organic sales and adjusted gross margin and adjusted EPS are non-GAAP measures. Refer to the Appendix for a reconciliation to the most directly comparable GAAP measures. Domestic: 2% to 3% International: 7% to 8% SPD: 5%
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103CHURCH & DWIGHT CO., INC. FY 2026 Financial Outlook • Power Brands & New Product Development • Portfolio Realignment Impact • TOUCHLAND • New Growth Initiatives • ARM & HAMMER • THERABREATH • International • 2H25 Sales, Margin, Cash Flow Momentum 2026 Financial Outlook of ~3%-4% Organic Growth & ~5%-8% Adjusted EPS Growth Tailwinds Headwinds • Slower US Category Growth • Stranded Costs From $400M of Business Exits • Continued Inflation & 1H26 Tariff Headwinds • Growth Investments • Lower Interest Income
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104CHURCH & DWIGHT CO., INC. 2026 Organic Sales Growth Outlook 3.6% 3.2% 2.7% 4.3% 4.4% 9.6% 4.3% 1.4% 5.3% 4.6% 0.7% 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026E Organic sales is a non-GAAP measure. Refer to the Appendix for a reconciliation to the most directly comparable GAAP measures. 10-year average: 4.1% Evergreen Target: 4.0% 3% - 4%
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105CHURCH & DWIGHT CO., INC. 2026 Reported Sales Outlook $6.2 2025 Reported Sales Exited Businesses VMS Touchland Base Growth 2026E Reported Sales Reported: -1.5% to -0.5% Organic: 3% - 4% $400MM $6.1B to $6.2B
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106CHURCH & DWIGHT CO., INC. Volume Sales Growth: Our Trend Should Continue In 2026 3.1% 3.4% 5.0% 3.7% 1.0% 8.1% 1.0% -5.1% 0.9% 3.3% 0.8% 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026E Outlook as of January 30, 2026
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107CHURCH & DWIGHT CO., INC. 2026 Adjusted Gross Margin Outlook 45.5% 45.2% 43.6% 41.9% 44.1% 45.2% 45.2% 2019 2020 2021 2022 2023 2024 2025 2026E Evergreen Target: +25 to +50 bps ~+100 bps Outlook as of January 30, 2026
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108CHURCH & DWIGHT CO., INC. Key Gross Margin Growth Drivers Good to Great Productivity & Supply Chain Optimization New Product Innovation Acquisition Growth & Synergies Driving Positive Mix 25–50 bps of Evergreen Gross Margin + Portfolio Change = ~100 bps of Improvement
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109CHURCH & DWIGHT CO., INC. 2026 Marketing Spend Target 11.7% 11.8% 12.1% 11.1% 10.0% 10.9% 11.4% 11.4% 2018 2019 2020 2021 2022 2023 2024 2025 2026E Evergreen Target: ~11% 11%+ Outlook as of January 30, 2026
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110CHURCH & DWIGHT CO., INC. 2026 Adjusted SG&A Outlook Note: Adjusted SG&A is a non-GAAP measure. Refer to the Appendix for a reconciliation to the most comparable GAAP measures. 14.1% 13.6% 13.0% 14.7% 14.9% 14.9% 2020 2021 2022 2023 2024 2025 2026E Evergreen Target: -25 to 0 bps ~ Higher Business Exits + Touchland
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111CHURCH & DWIGHT CO., INC. $1.94 $2.27 $2.47 $2.83 $3.02 $2.97 $3.17 $3.44 $3.53 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026E 2026 Adjusted EPS Growth Outlook Note: Adjusted EPS growth is a non-GAAP measure. Refer to the Appendix for a reconciliation to the most comparable GAAP measures. 9.6% 17.0% 8.8% 14.6% -1.7%6.7% 8.5%6.7% Evergreen Target: +8% 2.6% 5% - 8% 10-year average: +8%
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112CHURCH & DWIGHT CO., INC. Our “Best In Class” FCF Conversion Continued In 2025 10 Year Average: 119% 129% 131% 126% 123% 126% 125% 116% 97% 103% 115% 127% 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Refer to the Appendix for a reconciliation to the most directly comparable GAAP measures.
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113CHURCH & DWIGHT CO., INC. Total Debt/Bank EBITDA Our Strong Balance Sheet Provides Us Tremendous Flexibility 1.6x 0.7x 0.5x 1.4x 1.2x 1.5x 1.4x 1.4x 2.6x 2.2x 1.9x 1.7x 1.9x 2.1x 1.8x 1.5x 1.6x 1.5x 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026E Note: Total debt/EBITA is a non-GAAP measure. Refer to the Appendix for a reconciliation to the most comparable GAAP measures. Credit Rating: A2 | BBB+ Moody’s S&P
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114CHURCH & DWIGHT CO., INC. $2,205 $5,000 $410 Current Debt Outstanding Leverage Capacity Cash & Cash Equivalents • TTM Bank EBITDA = $1,495M • Example: Acquisition EBITDA multiple of 12x Church & Dwight Financial Capacity ($MM) Acquisition Power: ~$5.4B
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115CHURCH & DWIGHT CO., INC. Church & Dwight Prioritized Uses of Free Cash Flow TSR-Accretive M&A1 Capex for Organic Growth & G2G2 New Product Development3 Debt Reduction4 Return of Cash to Shareholders5
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116CHURCH & DWIGHT CO., INC. We Enter 2026 With Confidence In Our Future Our brand portfolio enters 2026 even stronger We are driving share gains that will be now be enhanced with our Growth Initiatives TOUCHLAND is delivering strong growth The online channel is experiencing steady growth Innovation remains a key driver of success Our international business continues to grow and represents a large opportunity Our balance sheet provides us tremendous capital allocation flexibility We are confident about the fundamentals of our evergreen model
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118CHURCH & DWIGHT CO., INC. Church & Dwight Co., Inc.’s Reconciliation of Non-GAAP Measures: The following pages provide definitions of the non-GAAP measures used in this presentation and reconciliations of these non- GAAP measures to the most directly comparable GAAP measures. These non-GAAP financial measures should not be considered in isolation from or as a substitute for the comparable GAAP measures, but rather as supplemental information to more fully understand our business results. The following non-GAAP measures may not be the same as similar measures provided by other companies due to differences in methods of calculation and items and events being excluded. The non-GAAP measures provided are (1) Organic Sales Growth, (2) Adjusted SG&A, (3) Adjusted EPS, (4) Free Cash Flow and Free Cash Flow Conversion, and (5) Total Debt to Bank EBITDA. We believe these measures provide useful perspective of underlying business trends and results and provide a more comparable measure of year over year results. Reconciliation of Non-GAAP Measures
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119CHURCH & DWIGHT CO., INC. Organic Sales Growth The presentation provides information regarding organic sales growth, namely net sales growth excluding the effect of acquisitions, divestitures and foreign exchange rate changes, from year-over-year comparisons. Management believes that the presentation of organic sales growth is useful to investors because it enables them to assess, on a consistent basis, sales trends related to products that were marketed by the Company during the entirety of relevant periods, excluding the impact of acquisitions, divestitures, and foreign exchange rate changes that are out of the control of, and do not reflect the performance of the Company and management. Reconciliation of Non-GAAP Measures TOTAL COMPANY Year Reported FX Acquisitions & Divestitures Organic 2025 1.6% 0.0% -0.9% 0.7% 2024 4.1% 0.0% 0.5% 4.6% 2023 9.2% 0.0% -3.9% 5.3% 2022 3.6% 1.0% -3.2% 1.4% 2021 6.0% -0.9% -0.8% 4.3% 2020 12.3% 0.1% -2.8% 9.6% 2019 5.1% 0.5% -1.2% 4.4% 2018 9.8% 0.0% -5.5% 4.3% 2017 8.1% 0.0% -5.4% 2.7%
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120CHURCH & DWIGHT CO., INC. Organic Sales Growth Continued Reconciliation of Non-GAAP Measures TOTAL COMPANY Year Reported FX Acquisitions & Divestitures Organic 2016 2.9% 1.2% -0.9% 3.2% 2015 2.9% 2.7% -2.0% 3.6% 2014 3.2% 0.5% -0.2% 3.5% 2013 9.3% 0.5% -7.6% 2.2% 2012 6.3% 0.8% -1.9% 5.2% 2011 6.2% -1.0% -1.1% 4.1% 2010 2.7% -1.1% 1.4% 3.0% 2009 4.1% 2.0% -1.4% 4.7% 2008 9.1% -0.2% -1.6% 7.3% 2007 14.0% -1.0% -8.0% 5.0%
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121CHURCH & DWIGHT CO., INC. Reported & Adjusted Non-GAAP Reconciliations 2025 2024 2023 2022 2021 2000 SG&A - Reported 15.9% 21.0% 15.2% 20.8% 11.7% 12.1% Brazil Charge 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% Flawless Earnout Adjustment 0.0% 0.0% 0.0% 0.0% 1.9% 1.9% Flawless Intangible Assets Impairment 0.0% 0.0% 0.0% -7.7% 0.0% 0.0% Passport Earnout Reversal 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% Sale of International Brand 0.0% 0.0% 0.0% 0.0% 0.0% 0.1% Retricted Stock Issued in Hero Acquisition -0.1% -0.3% -0.5% -0.1% 0.0% 0.0% Retricted Stock Issued in Touchland Acquisition -0.2% 0.0% 0.0% 0.0% 0.0% 0.0% VMS Asset Impairments 0.0% -5.8% 0.0% 0.0% 0.0% 0.0% Business Exit Related Impairments -0.3% 0.0% 0.0% 0.0% 0.0% 0.0% ERP Project Costs -0.1% 0.0% 0.0% 0.0% 0.0% 0.0% Touchland Earn out Adjustment -0.3% 0.0% 0.0% 0.0% 0.0% 0.0% SG&A Adjusted (Non-GAAP) 14.9% 14.9% 14.7% 13.0% 13.6% 14.1% Adjusted SG&A Reconciliation For the year ending December 31, This presentation provides information regarding adjusted SG&A, namely, SG&A calculated in accordance with GAAP, as adjusted to exclude significant one-time items that are not indicative of the Company’s period-to-period performance. We believe that this metric provides investors a useful perspective of underlying business trends and results and provides useful supplemental information regarding our year over year SG&A expense.
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122CHURCH & DWIGHT CO., INC. Reconciliation of Non-GAAP Measures Earnings Per Share This presentation discloses reported EPS excluding the following, namely, earnings per share calculated in accordance with GAAP adjusted to exclude significant one-time items that are not indicative of the Company’s period-to-period performance. We believe that this metric provides investors a useful perspective of underlying business trends and results and provides useful supplemental information regarding our year-over-year earnings per share growth. The excluded items are as follows: 2025: Excludes a $0.14 charge related to business exit impairments, a $0.02 charge related to ERP project costs, a $0.01 charge related to Waterpik restructuring, a $0.03 charge related to restricted stock issued in the HERO acquisition, a $0.05 charge related to restricted stock issued in the TOUCHLAND acquisition, a $0.08 charge related to the TOUCHLAND earnout, and a $0.18 charge related to the VMS divestiture 2024: Excludes a $1.10 VMS impairment charge, a $0.08 charge related to restricted stock issued in the HERO acquisition and a ($0.11) benefit from tariff refunds. 2023: Excludes a $0.12 charge related to restricted stock issued in the HERO acquisition. 2022: Excludes a $1.26 FLAWLESS impairment charge and a $0.03 charge related to restricted stock issued in the HERO acquisition. 2021: Excludes a $0.30 per share positive impact from the FLAWLESS acquisition earn-out estimate. 2020: Excludes a $0.28 per share positive impact from the FLAWLESS acquisition earn-out estimate and a $0.01 per share positive impact from the gain on sale of an international brand. 2019: Excludes a $0.02 positive impact from an earn-out reversal from the acquisition of Passport Food Safety Solutions, Inc., $0.03 negative impact from the loss on the sale of the consumer Brazil business, and $0.02 negative impact from the FLAWLESS acquisition earn-out estimate. 2017: Excludes a ($0.12 per share) charge associated with the settlement of a foreign pension plan, a ($0.01 per share) charge associated with the sale of the Company's chemical business in Brazil, a tax benefit of $0.03 per share from a prior year joint venture impairment charge and a one-time tax benefit (non- cash) of $1.06 per share to adjust deferred tax accounts and reflect deemed repatriation of foreign subsidiary earnings as a result of the Tax Cuts and Jobs Act (TCJA). 2016: Excludes the impact of a plant impairment charge of $4.9 million at the Company’s Brazilian subsidiary.
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123CHURCH & DWIGHT CO., INC. Reported & Adjusted Non-GAAP Reconciliations 2025 2024 2023 2022 2021 2020 2019 2018 2017 EPS - Reported 3.02$ 2.37$ 3.05$ 1.68$ 3.32$ 3.12$ 2.44$ 2.27$ 2.90$ Pension Settlement Charge -$ -$ -$ -$ -$ -$ -$ -$ 0.12$ Brazil Charge -$ -$ -$ -$ -$ -$ 0.03$ -$ 0.01$ Joint Venture Impairment Tax Benefit -$ -$ -$ -$ -$ -$ -$ -$ (0.03)$ Tradename and other Asset Impairments 0.14$ 1.10$ -$ -$ -$ -$ -$ -$ -$ Tariff Ruling -$ (0.11)$ -$ -$ -$ -$ -$ -$ -$ U.S. TCIA Tax Reform -$ -$ -$ -$ -$ -$ -$ -$ (1.06)$ Gain on Sale of International Brand -$ -$ -$ -$ -$ (0.01)$ -$ -$ -$ Passport Earn-out Reversal -$ -$ -$ -$ -$ -$ (0.02)$ -$ -$ Flawless Earn-out Adjustment -$ -$ -$ -$ (0.30)$ (0.28)$ 0.02$ -$ -$ Flawless Impairment -$ -$ -$ 1.26$ -$ -$ -$ -$ -$ Hero Restricted Stock 0.03$ 0.08$ 0.12$ 0.03$ -$ -$ -$ -$ -$ ERP Project 0.02$ -$ -$ -$ -$ -$ -$ -$ -$ Waterpik Restructuring 0.01$ -$ -$ -$ -$ -$ -$ -$ -$ Touchland Restricted Stock 0.05$ -$ -$ -$ -$ -$ -$ -$ -$ Touchland Earnout 0.08$ -$ -$ -$ -$ -$ -$ -$ -$ VMS Divestiture 0.18$ -$ -$ -$ -$ -$ -$ -$ -$ EPS - Adjusted (Non-GAAP) 3.53$ 3.44$ 3.17$ 2.97$ 3.02$ 2.83$ 2.47$ 2.27$ 1.94$ Adjusted EPS Reconciliation For the year ending December 31,
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124CHURCH & DWIGHT CO., INC. Reconciliation of GAAP and Non-GAAP Financial Measures Free Cash Flow Free cash flow (a non-GAAP measure) is defined as cash from operating activities (a GAAP measure) less capital expenditures (a GAAP measure). Management views free cash flow as an important measure because it is one factor in determining the amount of cash available for dividends and discretionary investment. Free Cash Flow as a Percent of Net Income (Free Cash Flow Conversion) Free cash flow as percent of net income is defined as the ratio of free cash flow to net income. Management views this as a measure of how effective the Company manages its cash flow relating to working capital and capital expenditures.
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125CHURCH & DWIGHT CO., INC. Reconciliation of GAAP and Non-GAAP Financial Measures Total Debt to Bank EBITDA Total Debt to Bank EBITDA is a ratio used in our debt agreements. Bank EBITDA (a non-GAAP measure) is a form of adjusted EBITDA, and represents earnings from Income (a GAAP measure), excluding interest income, interest expense, and before income taxes, depreciation, and amortization (EBITDA) and certain other adjustments per the Company’s Credit Agreement. Total Debt is defined as short- and long-term debt as defined by GAAP, plus items that are classified as debt by the Company’s credit agreement. These items include Letters of Credit, Capital and Synthetic Lease Obligations, and certain Guarantees. Management believes the presentation of Total Debt to Bank EBITDA provides additional useful information to investors about liquidity and our ability to service existing debt. 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 Total Debt as Presented (1) 2,205.1$ 2,204.6$ 2,406.0$ 2,673.6$ 2,596.9$ 2,163.9$ 2,063.1$ 2,107.1$ 2,374.3$ 1,120.1$ Other Debt per Covenant (2) 193.3 - 43.4 43.3 1.0 1.5 15.9 56.7 59.2 75.1 Total Debt per Credit Agreement 2,398.4$ 2,204.6$ 2,449.4$ 2,716.9$ 2,597.9$ 2,165.4$ 2,079.0$ 2,163.8$ 2,433.5$ 1,195.2$ Net Cash from Operations 1,205.6$ 1,164.4$ 1,039.7$ 885.2$ 993.8$ 990.3$ 864.6$ 763.6$ 681.5$ 655.3$ Interest Paid 94.6 94.4 111.9 86.0 51.8 58.8 70.6 74.9 33.3 25.6 Current Tax Provision 234.3 176.2 225.6 109.4 204.2 162.2 152.2 139.8 186.9 222.0 Change in Working Capital and other Liabilities 9.8 (8.3) (9.2) 186.6 95.0 37.3 (33.2) (14.2) (0.8) 30.0 Other Adjustments, Net (49.7) 91.5 9.2 41.2 31.6 46.2 17.9 - 50.2 (74.4) Adjusted EBITDA (per Credit Agreement) 1,494.6$ 1,518.2$ 1,377.2$ 1,308.4$ 1,376.4$ 1,294.8$ 1,072.1$ 964.1$ 951.1$ 858.5$ Ratio 1.6 1.5 1.8 2.1 1.9 1.7 1.9 2.2 2.6 1.4 Notes: (1)Net of Deferred Financing Costs per ASC 201 5-03, "Simplifying the Presentation of Debt Issuance Costs" (2) Includes Letters of Credit, Capital and Synthetic Lease Obligations, Acquisition Liabilities and certain Guarantees.
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126CHURCH & DWIGHT CO., INC. Total Debt to Bank EBITDA, Continued Total Debt to Bank EBITDA is a ratio used in our debt agreements. Bank EBITDA (a non-GAAP measure) is a form of adjusted EBITDA, and represents earnings from Income (a GAAP measure), excluding interest income, interest expense, and before income taxes, depreciation, and amortization (EBITDA) and certain other adjustments per the Company’s Credit Agreement. Total Debt is defined as short- and long-term debt as defined by GAAP, plus items that are classified as debt by the Company’s credit agreement. These items include Letters of Credit, Capital and Synthetic Lease Obligations, and certain Guarantees. Management believes the presentation of Total Debt to Bank EBITDA provides additional useful information to investors about liquidity and our ability to service existing debt. 2015 2014 2013 2012 2011 2010 2009 Total Debt as Presented (1) 1,050.0$ 1,086.6$ 797.3$ 895.6$ 246.7$ 333.3$ 816.3$ Other Debt per Covenant (2) 83.5 88.0 90.3 79.1 45.9 11.7 16.5 Total Debt per Credit Agreement 1,133.5$ 1,174.6$ 887.6$ 974.7$ 292.6$ 345.0$ 832.8$ Net Cash from Operations 606.1$ 540.3$ 499.6$ 523.6$ 437.8$ 428.5$ 400.9$ Interest Paid 29.0 25.7 26.4 9.7 9.2 29.3 35.6 Current Tax Provision 201.0 198.3 192.3 179.5 125.6 108.7 125.6 Excess Tax Benefits on Option Exercises 15.8 18.5 13.1 14.6 12.1 7.3 5.0 Change in Working Capital and other Liabilities (38.6) (13.5) 16.1 (75.4) 11.0 (31.6) (35.4) Adjustments for Significant Acquisitions/Dispositions (net) - - - 46.8 3.9 6.8 (22.9) Adjusted EBITDA (per Credit Agreement) 813.3$ 769.3$ 747.5$ 698.8$ 599.6$ 549.0$ 508.8$ Ratio 1.4 1.5 1.2 1.4 0.5 0.7 1.6 Notes: (1)Net of Deferred Financing Costs per ASC 2015-03, "Simplifying the Presentation of Debt Issuance Costs" (2) Includes Letters of Credit, Capital and Synthetic Lease Obligations, Acquisition Liabilities and certain Guarantees.
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127CHURCH & DWIGHT CO., INC. Reconciliation of Non-GAAP Measures (Q4 & FY 2025) Organic Sales
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128CHURCH & DWIGHT CO., INC. Reconciliation of Non-GAAP Measures (Q4 2025)
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129CHURCH & DWIGHT CO., INC. Reconciliation of Non-GAAP Measures (2025)
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130CHURCH & DWIGHT CO., INC. Reconciliation of Non-GAAP Measures (Q4 2024)
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131CHURCH & DWIGHT CO., INC. Reconciliation of Non-GAAP Measures (2024)