CHURCH & DWIGHT CO INC /DE/ (CHD) Risk Factors

Recent key developments

Concrete developments — dated events, named agreements and instruments, legal proceedings — that CHURCH & DWIGHT CO INC /DE/ surfaced in its latest filing.

• In 2025, some of our largest customers launched private label brands that compete with our products.2025
• Walmart accounted for approximately 23% of net sales in 2025, 2024, and 2023.2025
• Top four customers accounted for approximately 44%, 43%, and 44% of net sales in 2025, 2024, and 2023.2025
• During 2025, approximately 82% of our sales were generated in U.S. markets.2025
• In 2025, we exited from the Flawless, Spinbrush, Waterpik showerhead businesses and completed the sale of our VMS business at the end of 2025.2025
• The VMS business (including VITAFUSION and L’IL CRITTERS) recorded impairment charges in Q3 2024 and was divested on December 31, 2025.December 31, 2025
• On May 1, 2025, the Company announced the exit of the Flawless, Spinbrush, and Waterpik showerhead businesses, completed by end of 2025.May 1, 2025
• As of December 31, 2025, total consolidated indebtedness of approximately $2,205.0 million, net of debt issuance costs.December 31, 2025
• In February 2025, President Trump announced new tariffs on imports from certain countries, including Canada, Mexico and China.February 2025
• Global voluntary turnover rate for 2025 was 6.9%, compared to 7.7% in 2024; overall turnover rate for 2025 is 24.9%, up from 14.3% in 2024, including one-time involuntary actions within Waterpik and supply chain, closure of the New Zealand site, and divestiture of the VMS business.2025
• As of January 1, 2026, comprehensive privacy laws are in effect in 20 states, complicating our privacy compliance obligations.January 1, 2026
• As of January 2026, 19 other states have enacted similar privacy, data protection and information security laws.January 2026
• In November 2020, California voters adopted the CPRA that amends the CCPA, creating a new agency to implement and enforce the law.November 2020
• OECD members agreed to a global minimum tax rate of 15% on October 4, 2021.October 4, 2021
• OECD published GloBE model rules on December 20, 2021.December 20, 2021
• European Council approved directive to implement Pillar Two on December 15, 2022.December 15, 2022
• Pillar Two effective for tax years beginning January 2024 with remaining impacts in 2025.January 2024
• OECD published Side-by-Side Package on January 5, 2026 including safe-harbors for certain U.S. parented corporations.January 5, 2026
• The exclusive forum provision is contained in the amended and restated bylaws.
• We have already been targeted by stockholder activism in the past.