CHURCH & DWIGHT CO INC /DE/ (Form: 10-Q, Received: 05/01/2026 13:11:21)

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(MARK ONE)


☒	QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarter ended March 31, 2026


☐	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission file number 1-10585

CHURCH & DWIGHT CO., INC.

(Exact name of registrant as specified in its charter)

     Delaware

     13-4996950

     (State or other jurisdiction of
incorporation or organization)

     (I.R.S. Employer
Identification No.)

500 Charles Ewing Boulevard, Ewing, NJ 08628

(Address of principal executive offices)

Registrant’s telephone number, including area code: (609) 806-1200

Securities registered pursuant to Section 12(b) of the Act:

     Title of each class

     Trading Symbol(s)

     Name of each exchange
on which registered

     Common Stock, $1 par value

     CHD

     New York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding twelve months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer”, “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.


Large accelerated filer	☒	Accelerated filer	☐
Non-accelerated filer	☐	Smaller reporting company	☐
Emerging growth company	☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

As of April 29, 2026, there were 236,943,602 shares of Common Stock outstanding.

TABLE OF CONTENTS

PART I


Item		Page
1.	Financial Statements	3

2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	22

3.	Quantitative and Qualitative Disclosures about Market Risk	29

4.	Controls and Procedures	29

PART II


1.	Legal Proceedings	30

1A.	Risk Factors	30

2.	Unregistered Sales of Equity Securities and Use of Proceeds	31

5.	Other Information	32

6.	Exhibits	33

PART I – FINANCIAL INFORMATION

ITEM 1: FINANCIAL STATEMENTS

CHURCH & DWIGHT CO., INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(Unaudited)

(In millions, except per share data)


	Three Months Ended
	March 31,			March 31,
	2026			2025
Net Sales	$	1,469.3		$	1,467.1
Cost of sales		787.9			807.5
Gross Profit		681.4			659.6
Marketing expenses		139.4			136.6
Selling, general and administrative expenses		251.0			227.7
Income from Operations		291.0			295.3
Equity in earnings of affiliates		2.3			1.6
Interest income		2.5			9.3
Interest expense		(24.0	)		(23.3	)
Other income (expense), net		0.8			(0.8	)
Income before Income Taxes		272.6			282.1
Income taxes		56.3			62.0
Net Income	$	216.3		$	220.1

Weighted average shares outstanding - Basic		236.5			245.8
Weighted average shares outstanding - Diluted		238.1			248.0
Net income per share - Basic	$	0.91		$	0.90
Net income per share - Diluted	$	0.91		$	0.89
Cash dividends per share	$	0.31		$	0.29

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(Unaudited)

(In millions)


	Three Months Ended
	March 31,			March 31,
	2026			2025
Net Income	$	216.3		$	220.1
Other comprehensive income, net of tax:
Foreign exchange translation adjustments		(4.5	)		6.3
Defined benefit plan adjustments gain (loss)		(0.4	)		0.4
Income (loss) from derivative agreements		8.2			(1.9	)
Other comprehensive income		3.3			4.8
Comprehensive income	$	219.6		$	224.9

See Notes to Condensed Consolidated Financial Statements (Unaudited).

CHURCH & DWIGHT CO., INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited)

(In millions, except share and per share data)


	March 31,			December 31,
	2026			2025
Assets
Current Assets
Cash and cash equivalents	$	503.4		$	409.0
Accounts receivable, less allowances of $3.8 and $3.7		576.6			593.4
Inventories		578.4			534.8
Other current assets		62.3			59.8
Total Current Assets		1,720.7			1,597.0

Property, Plant and Equipment, Net		823.9			822.8
Equity Investment in Affiliates		12.3			10.3
Trade Names and Other Intangibles, Net		3,477.2			3,511.5
Goodwill		2,629.4			2,627.5
Other Assets		343.0			343.3
Total Assets	$	9,006.5		$	8,912.4

Liabilities and Stockholders' Equity
Current Liabilities
Accounts payable	$	729.9		$	732.4
Accrued expenses and other liabilities		452.7			583.0
Business acquisition and divestiture liabilities		197.2			178.9
Income taxes payable		33.6			3.4
Total Current Liabilities		1,413.4			1,497.7

Long-term Debt		2,205.7			2,205.1
Deferred Income Taxes		891.6			886.9
Deferred and Other Long-term Liabilities		309.8			320.5
Total Liabilities		4,820.5			4,910.2

Commitments and Contingencies
Stockholders' Equity
Preferred Stock, $1.00 par value, Authorized 2,500,000 shares; none issued		0.0			0.0
Common Stock, $1.00 par value, Authorized 600,000,000 shares and 293,709,982 shares issued as of March 31, 2026 and December 31, 2025		293.7			293.7
Additional paid-in capital		654.1			625.1
Retained earnings		6,911.5			6,768.2
Accumulated other comprehensive loss		(16.6	)		(19.9	)
Common stock in treasury, at cost: 56,818,945 shares as of March 31, 2026 and 57,156,105 shares as of December 31, 2025		(3,656.7	)		(3,664.9	)
Total Stockholders' Equity		4,186.0			4,002.2
Total Liabilities and Stockholders' Equity	$	9,006.5		$	8,912.4

See Notes to Condensed Consolidated Financial Statements (Unaudited).

CHURCH & DWIGHT CO., INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW

(Unaudited)

(In millions)


	Three Months Ended
	March 31,			March 31,
	2026			2025
Cash Flow From Operating Activities
Net Income	$	216.3		$	220.1
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation expense		21.6			22.6
Amortization expense		41.3			38.3
Deferred income taxes		4.5			(3.5	)
Equity in net earnings of affiliates		(2.3	)		(1.6	)
Distributions from unconsolidated affiliates		0.2			1.8
Non-cash compensation expense		25.7			20.7
Asset impairment charge and other asset write-offs		1.7			1.4
Other		(0.2	)		0.1
Subtotal		308.8			299.9
Change in assets and liabilities:
Accounts receivable		13.7			6.6
Inventories		(45.1	)		(16.0	)
Other current assets		(8.3	)		(7.0	)
Accounts payable		2.3			(7.8	)
Accrued expenses		(131.3	)		(141.5	)
Income taxes payable		44.2			55.1
Other operating assets and liabilities, net		(9.5	)		(3.6	)
Change in Working Capital		(134.0	)		(114.2	)
Net Cash Provided By Operating Activities		174.8			185.7
Cash Flow From Investing Activities
Additions to property, plant and equipment		(31.9	)		(16.5	)
Other		(1.6	)		(0.2	)
Net Cash Used In Investing Activities		(33.5	)		(16.7	)
Cash Flow From Financing Activities
Proceeds from stock options exercised		16.6			19.3
Payment of cash dividends		(72.9	)		(72.4	)
Payment of business acquisition liability		(19.8	)		(5.9	)
Proceeds from VMS Transition Services Agreement		36.2			0.0
Other		(5.0	)		(2.0	)
Net Cash Used In Financing Activities		(44.9	)		(61.0	)
Effect of exchange rate changes on cash and cash equivalents		(2.0	)		2.4
Net Change In Cash and Cash Equivalents		94.4			110.4
Cash and Cash Equivalents at Beginning of Period		409.0			964.1
Cash and Cash Equivalents at End of Period	$	503.4		$	1,074.5

See Notes to Condensed Consolidated Financial Statements (Unaudited).

CHURCH & DWIGHT CO., INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW-CONTINUED

(Unaudited)

(In millions)


	Three Months Ended
	March 31,		March 31,
	2026		2025
Cash paid during the period for:
Interest (net of amounts capitalized)	$	15.3	$	14.9
Income taxes	$	7.2	$	10.3
Supplemental disclosure of non-cash investing activities:
Property, plant and equipment expenditures included in Accounts Payable	$	14.4	$	13.1

See Notes to Condensed Consolidated Financial Statements (Unaudited).

CHURCH & DWIGHT CO., INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY

(Unaudited)

(In millions)


	Number of Shares					Amounts
	Common Stock		Treasury Stock			Common Stock		Additional Paid-In Capital		Retained Earnings			Accumulated Other Comprehensive Income (Loss)			Treasury Stock			Total Stockholders' Equity
January 1, 2025		293.7		(47.8	)	$	293.7	$	563.1	$	6,319.7		$	(30.9	)	$	(2,784.8	)	$	4,360.8
Net income		0.0		0.0			0.0		0.0		220.1			0.0			0.0			220.1
Other comprehensive income		0.0		0.0			0.0		0.0		0.0			4.8			0.0			4.8
Cash dividends		0.0		0.0			0.0		0.0		(72.4	)		0.0			0.0			(72.4	)
Stock based compensation expense and stock option plan transactions		0.0		0.3			0.0		27.2		(0.2	)		0.0			10.7			37.7
March 31, 2025		293.7		(47.5	)	$	293.7	$	590.3	$	6,467.2		$	(26.1	)	$	(2,774.1	)	$	4,551.0

January 1, 2026		293.7		(57.2	)	$	293.7	$	625.1	$	6,768.2		$	(19.9	)	$	(3,664.9	)	$	4,002.2
Net income		0.0		0.0			0.0		0.0		216.3			0.0			0.0			216.3
Other comprehensive income		0.0		0.0			0.0		0.0		0.0			3.3			0.0			3.3
Cash dividends		0.0		0.0			0.0		0.0		(72.9	)		0.0			0.0			(72.9	)
Stock based compensation expense and stock option plan transactions		0.0		0.4			0.0		29.0		(0.1	)		0.0			8.2			37.1
March 31, 2026		293.7		(56.8	)	$	293.7	$	654.1	$	6,911.5		$	(16.6	)	$	(3,656.7	)	$	4,186.0

See Notes to Condensed Consolidated Financial Statements (Unaudited).

CHURCH & DWIGHT CO., INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

(In millions, except per share data)

Basis of Presentation

These condensed consolidated financial statements have been prepared by Church & Dwight Co., Inc. (the “Company”). In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position and results of operations and cash flows for all periods presented have been made. Results of operations for interim periods may not be representative of results expected for the full year.

Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles (“GAAP”) in the United States have been condensed or omitted. These condensed consolidated financial statements should be read in conjunction with the financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 (the “Form 10-K”).

The Company incurred research and development expenses in the first quarter of 2026 and 2025 of $31.6 and $32.8, respectively. These expenses are included in selling, general and administrative (“SG&A”) expenses.

New Accounting Pronouncements

Recent Accounting Pronouncements Not Yet Adopted

In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses and in January 2025, the FASB issued ASU 2025-01, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Clarifying the Effective Date ("ASU 2025-01"). The ASU requires a public business entity to provide disaggregated disclosures of certain categories of expenses on an annual and interim basis including purchases of inventory, employee compensation, depreciation, and intangible asset amortization for each income statement line item that contains those expenses. ASU 2024-03, as clarified by ASU 2025-01, is effective for annual reporting periods beginning after December 15, 2026, and interim periods beginning after December 15, 2027, with prospective or retrospective application permitted. The Company is currently evaluating the impact of adoption on the Company’s related disclosures.

There have been no other accounting pronouncements issued but not yet adopted by the Company which are expected to have a material impact on the Company’s consolidated financial position, results of operations or cash flows.

Inventories

Inventories consist of the following:


	March 31,		December 31,
	2026		2025
Raw materials and supplies	$	139.0	$	143.7
Work in process		24.0		35.0
Finished goods		415.4		356.1
Total	$	578.4	$	534.8

Property, Plant and Equipment, Net (“PP&E”)

PP&E consists of the following:


	March 31,		December 31,
	2026		2025
Land	$	16.4	$	16.0
Buildings and improvements		368.6		367.5
Machinery and equipment		913.0		911.1
Software		139.2		138.9
Office equipment and other assets		131.4		131.6
Construction in progress		147.6		131.9
Gross PP&E		1,716.2		1,697.0
Less accumulated depreciation		892.3		874.2
Net PP&E	$	823.9	$	822.8


	Three Months Ended
	March 31,		March 31,
	2026		2025
Depreciation expense on PP&E	$	21.6	$	22.6

Earnings Per Share (“EPS”)

Basic EPS is calculated based on income available to holders of the Company’s common stock (“Common Stock”) and the weighted average number of shares outstanding during the reported period. Diluted EPS includes additional dilution from potential Common Stock issuable pursuant to the Company's stock-based compensation plans.

The following table sets forth a reconciliation of the weighted average number of shares of Common Stock outstanding to the weighted average number of shares outstanding on a diluted basis:


	Three Months Ended
	March 31,		March 31,
	2026		2025
Weighted average common shares outstanding - basic		236.5		245.8
Dilutive effect of stock awards		1.6		2.2
Weighted average common shares outstanding - diluted		238.1		248.0
Antidilutive stock awards outstanding		3.1		2.1

Stock Based Compensation Plans

The Company's Long-Term Incentive Program (“LTIP”) provides employees with an award of stock options and grants of restricted stock units (“RSUs”), and grants of performance share units ("PSUs"). Awards are granted in the first quarter of each year. The Company recognizes the grant-date fair value for each of these awards, less estimated forfeitures, as compensation expense ratably over the vesting period. For employees and directors that meet retirement eligibility requirements, the expense related to share-based compensation is recognized on the date of grant as there is no future service period required for the awards to vest.

Stock Options

The following table provides a summary of option activity:


						Weighted
						Average
				Weighted		Remaining
				Average		Contractual		Aggregate
				Exercise Price		Term		Intrinsic
	Options			(per share)		(in Years)		Value
Outstanding at December 31, 2025		8.8		$	81.83
Granted		0.8			103.94
Exercised		(0.2	)		61.01
Outstanding at March 31, 2026		9.4		$	84.24		5.9	$	118.5
Exercisable at March 31, 2026		6.6		$	75.37		4.6	$	118.5

The following table provides information regarding the intrinsic value of stock options exercised and stock compensation expense related to stock option awards:


	Three Months Ended
	March 31,		March 31,
	2026		2025
Intrinsic Value of Stock Options Exercised	$	9.6	$	16.3
Stock Compensation Expense Related to Stock Option Awards	$	9.2	$	13.1
Issued Stock Options		0.8		1.0
Weighted Average Fair Value of Stock Options issued (per share)	$	28.75		33.43
Fair Value of Stock Options Issued	$	24.0		32.3

The following table provides a summary of the assumptions used in the valuation of issued stock options:


	Three Months Ended
	March 31,	March 31,
	2026	2025
Risk-free interest rate	3.8%	4.2%
Expected life in years	6.7	7.0
Expected volatility	22.5%	22.6%
Dividend yield	1.2%	1.1%

Restricted Stock Units

The annual RSU grants vest in one-third increments on each of the first, second and third anniversaries of the grant date, subject to the recipient’s continued employment with the Company from the grant date through the applicable vesting date, and are settled with shares of the Company’s Common Stock within 60 days following the applicable vesting date.

The following table provides a summary of RSU activity:


						Weighted
						Average
				Weighted		Remaining
				Average Grant		Contractual		Aggregate
				Date Fair Value		Term		Intrinsic
	Shares			(per award)		(in Years)		Value
Outstanding at December 31, 2025		0.3		$	100.40
Granted		0.1			101.44
Vested		(0.1	)		97.41
Outstanding at March 31, 2026		0.3		$	101.77		9.2	$	27.6
Vested and expected to vest at March 31, 2026		0.3		$	101.77		9.2	$	27.6

In connection with the Touchland Acquisition (as defined in Note 10), Touchland’s founder was granted rights to receive shares of our common stock valued at $50.0, with 50% of such shares vesting at each of the first and second year anniversaries of the closing. The value of common stock received by Touchland's founder will be recognized as a compensation expense ratably over the two-year vesting period if the individual continues to be employed by the Company. The restricted stock expense associated with the Touchland Acquisition for the three months ended March 31, 2026 was $6.3, and is included in the non-cash compensation expense caption in the Condensed Consolidated Statement of Cash Flows. Refer to Note 10-Acquisitions for additional details.

Performance Stock Units

Beginning in 2026, the Company expanded the annual PSU grant to a greater number of employees. The annual PSU grants are issued in two equal tranches. Each tranche has a different performance metric and grant date fair value. The performance metric for one tranche is based on the Company’s total shareholder return (“TSR”) relative to a Company-selected peer group and is valued using a Monte Carlo model. The performance metric for the second tranche is the Company's three-year cumulative cash flow from operations target and is valued using the Company's grant date closing stock value. The PSUs vest on the later of (i) the third anniversary of the grant date and (ii) the date that the Board's Compensation & Human Capital Committee certifies the achievement of the applicable performance goals, in each case, subject to the recipient’s continued employment with the Company from the grant date through the vesting date. The number of shares that may be issued ranges from 0% to 200% based on relative TSR and cumulative cash flow from operations during the three-year performance period.

In January 2026, the Company granted a 2030 long-term strategy grant of PSUs ( the "Strategy Grant") to Company employees at the director level and above, including the Company's executive officers. The PSU's awarded pursuant to the Strategy Grant will cliff vest following a four-year performance period, subject to the recipients remaining continuously employed for the full four-year performance period and satisfaction of the performance conditions. The PSU awards are tied to three equally weighted core long-term growth drivers (1) the Company’s net sales compound annual growth rate (“CAGR”) of the Arm & Hammer brand, (2) the net sales CAGR derived from sources outside of the United States and (3) the net sales CAGR derived from oral care products, including TheraBreath. The number of shares that may be issued ranges from 0% to 200% based on the performance of the long-term growth drivers over the four-year performance period.

The following table provides a summary of PSU activity:


					Weighted
					Average
			Weighted		Remaining
			Average Grant		Contractual		Aggregate
			Date Fair Value		Term		Intrinsic
	Shares		(per award)		(in Years)		Value
Outstanding at December 31, 2025		0.1	$	106.52
Granted		0.6		95.03
Outstanding at March 31, 2026		0.7	$	96.64		9.8	$	59.8
Vested and expected to vest at March 31, 2026		0.7	$	96.64		9.8	$	59.8

Employee Stock Purchase Plan

The Company’s Employee Stock Purchase Plan (“ESPP”) was adopted in February 2023 by the Company’s Board of Directors and became effective in April 2023 upon approval by the Company’s stockholders, and was most recently amended and restated

effective April 4, 2026. There are 750,000 shares of Common Stock reserved for issuance under the ESPP. The ESPP, which is intended to be an “employee stock purchase plan” under Section 423 of the Internal Revenue Code, permits eligible employees to purchase Common Stock through after-tax payroll deductions. Currently, the purchase price under the ESPP is 85% of the fair market value of our Common Stock on the last trading day of the applicable quarterly purchase period. The maximum value of Common Stock that an eligible employee may purchase each calendar year is the lesser of 10% of an eligible employee’s annual pay and $25,000. There are four purchase periods in each calendar year under the ESPP, which begin on the first business day of each calendar quarter and end on the last business day of each calendar quarter. The first purchase period commenced in January 2025. There are 728,031 Common Shares remaining as of March 31, 2026 that are reserved for issuance under the ESPP. As of December 31, 2025, there were 660,582 Common Shares reserved for issuance under the ESPP.

Share Repurchases

On October 28, 2021, the Board authorized the Company’s share repurchase program, under which the Company may repurchase up to $1,000.0 in shares of Common Stock (the “2021 Share Repurchase Program”). The 2021 Share Repurchase Program does not have an expiration and replaced the 2017 Share Repurchase Program.

As of March 31, 2026, there remains $228.9 of share repurchase availability under the 2021 Share Repurchase Program.

The 2021 Share Repurchase Program did not modify the Company’s evergreen share repurchase program, authorized by the Board on January 29, 2014, under which the Company may repurchase, from time to time, Common Stock to reduce or eliminate dilution associated with issuances of Common Stock under its incentive plans.

Fair Value Measurements

The following table presents the carrying amounts and estimated fair values of the Company’s other financial instruments at March 31, 2026 and December 31, 2025:


		March 31, 2026				December 31, 2025
	Input	Carrying		Fair		Carrying		Fair
	Level	Amount		Value		Amount		Value
Financial Assets:
Cash equivalents	Level 1	$	291.8	$	291.8	$	217.5	$	217.5
Financial Liabilities:
3.15% Senior notes due August 1, 2027	Level 2		424.9		419.1		424.9		420.1
2.3% Senior notes due December 15, 2031	Level 2		399.5		354.6		399.5		355.4
5.6% Senior notes due November 15, 2032	Level 2		499.4		526.6		499.3		532.3
3.95% Senior notes due August 1, 2047	Level 2		397.9		313.2		397.9		318.4
5.00% Senior notes due June 15, 2052	Level 2		499.9		448.0		499.9		457.3

The Company recognizes transfers between input levels as of the actual date of the event. There were no transfers between input levels during the three months ended March 31, 2026 and 2025.

Refer to Note 2 in the Form 10-K for a description of the methods and assumptions used to estimate the fair value of each class of financial instruments reflected in the Condensed Consolidated Balance Sheets.

The carrying amounts of Accounts Receivable, Accounts Payable, and Accrued Expenses and Other Liabilities, approximated estimated fair values as of March 31, 2026 and December 31, 2025.

Derivative Instruments and Risk Management

Changes in interest rates, foreign exchange rates, the price of the Company’s Common Stock and commodity prices expose the Company to market risk. The Company manages these risks by the use of derivative instruments, such as cash flow and fair value hedges, diesel and commodity hedge contracts, equity derivatives and foreign exchange forward contracts. The Company does not use derivatives for trading or speculative purposes. Refer to Note 3 in the Form 10-K for a discussion of each of the Company’s derivative instruments in effect as of December 31, 2025.

The notional amount of a derivative instrument is the nominal or face amount used to calculate payments made on that instrument. Notional amounts are presented in the following table:


	Notional		Notional
	Amount		Amount
	March 31, 2026		December 31, 2025
Derivatives designated as hedging instruments
Foreign exchange contracts	$	391.2	$	438.2
Diesel fuel contracts	3.4 gallons		4.5 gallons
Commodities contracts	54.8 pounds		43.6 pounds
Net Investment hedge	$	25.0	$	25.0
Derivatives not designated as hedging instruments
Foreign exchange contracts	$	9.1	$	2.4
Equity derivatives	$	13.0	$	12.0

The fair values and amount of gain (loss) recognized in income and Other Comprehensive Income (“OCI”) associated with the derivative instruments disclosed above did not have a material impact on the Company’s condensed consolidated financial statements during the three months ended March 31, 2026.

10.

Acquisitions

On July 16, 2025, the Company completed the acquisition of Touchland Holding Corp ("Touchland"), the developer of TOUCHLAND® hand sanitizer products (the "Touchland Acquisition"). The Company paid $656.0, net of cash acquired, at closing and entered an agreement to pay an additional amount based on 2025 net sales thresholds which resulted in a cash payment of $158.7 in April 2026. In addition, the Company granted rights to Touchland’s founder to receive shares of our Common Stock valued at $50.0, with 50% of such shares vesting at each of the first- and -second-year anniversaries of the closing. The value of Common Stock received by Touchland's founder will be recognized as compensation expense ratably over the two-year vesting period if the individual continues to be employed by the Company. A payment of $5.0 of the purchase price was deferred related to certain indemnification obligations provided by Touchland’s equity holders, which amount, to the extent not used in satisfaction of such indemnity obligations, is payable three years from the closing. The Touchland Acquisition was financed with cash on hand and is managed in the Consumer Domestic and Consumer International segments. Touchland’s annual net sales for the year ended December 31, 2024 were approximately $115.0 million.

The preliminary fair values of the net assets at acquisition are set forth as follows:


Accounts receivable	$	9.3
Inventory		25.8
Other current assets		1.3
Property, plant and equipment		5.5
Other long-term assets		2.1
Trade name		730.0
Customer relationship intangible asset		32.8
Goodwill		208.4
Accounts payable, accrued expenses and other liabilities		(23.3	)
Business acquisition liabilities - short-term		(141.9	)
Deferred income taxes		(183.8	)
Deferred and other long-term liabilities		(10.2	)
Cash purchase price at closing (net of cash acquired)	$	656.0

The trade name and customer relationship intangible assets were valued using a discounted cash flow model and have a useful life of 20 years. The goodwill is a result of expected synergies from combined operations of the acquired business and the Company.

Pro forma results are not presented because the impact of the acquisition is not material to the Company’s consolidated financial results. The goodwill and other intangible assets associated with the Touchland Acquisition are not deductible for U.S. tax purposes.

11.

Divestitures and Business Exits

Spinbrush Divestiture

On May 1, 2025, the Company announced that it would exit the Spinbrush business which resulted in a pre-tax loss of $21.2, of which $12.6 was recorded in Cost of Sales and $8.6 was recorded in SG&A expenses. In December 2025, the Company entered into an agreement to transfer all Spinbrush intellectual property to a third party for nominal consideration. Net sales of the Spinbrush business were $53.6 in the year ended December 31, 2025.

Flawless Business Exit

On May 1, 2025, the Company announced that it would exit the Flawless business which resulted in a pre-tax loss of $17.6, of which $6.0 was recorded in Cost of Sales and $11.6 was recorded in SG&A expenses. We exited this business by the end of 2025. Net sales of the Flawless business were $29.3 in the year ended December 31, 2025.

Waterpik Showerheads Business Exit

On May 1, 2025, the Company announced that it would exit the Waterpik showerheads business which resulted in a pre-tax loss of $6.5 recorded in Cost of Sales. We exited this business by the end of 2025. Net sales of the Waterpik showerheads business were $35.5 in the year ended December 31, 2025.

VMS Divestiture

On December 9, 2025, the Company announced a definitive agreement to sell the VitaFusion and L’il Critters brands to Piping Rock Health Products, Inc. ("Piping Rock"). This agreement includes the VitaFusion and L’il Critters brands, relevant trademarks and licenses, and the Company's former manufacturing and distribution facilities in Vancouver and Ridgefield, Washington. The transaction closed on December 31, 2025 and includes a short-duration transition services agreement ("TSA"). The Company has a TSA-related liability of $36.2 as of March 31, 2026, primarily for net cash collected offset by invoices paid on behalf of Piping Rock.

In connection with the agreement, the Company derecognized PP&E of $142.9, inventory of $54.0, goodwill of $12.6 and other net assets including leases of $9.3 for net cash proceeds of $160.3. The VMS brands represented less than 5% of the Company’s 2025 net sales. As a result of this transaction, the Company incurred a pre-tax charge of $58.5 (post-tax of $45.6) in the fourth quarter of 2025 which was included in Other income (expense), net in the Consolidated Statements of Income.

The divestiture of the Company's VMS business does not meet the criteria to be reported as discontinued operations in the consolidated financial statements as the Company's decision to divest this business does not represent a strategic shift that will have a significant impact on the Company's operations and financial results.

12.

Goodwill and Other Intangibles, Net

The Company has intangible assets of substantial value on its Condensed Consolidated Balance Sheet. These intangible assets are generally related to intangible assets with a useful life, indefinite-lived trade names and goodwill. The Company determines whether an intangible asset (other than goodwill) has a useful life based on multiple factors, including how long the Company intends to generate cash flows from the asset. These intangible assets are more fully explained in the following sections.

Indefinite-Lived Intangible Assets

The following table presents the carrying value of indefinite-lived intangible assets:


	March 31,		December 31,
	2026		2025
Gross Carrying Value Trade Names	$	1,672.5	$	1,680.7
Sale of Spinbrush Tradename		0.0		(7.9	)
Trade Names	$	1,672.5	$	1,672.8

The Company’s indefinite-lived intangible impairment review is completed in the fourth quarter of each year.

Fair value for indefinite-lived intangible assets was estimated based on a “relief from royalty” or “excess earnings” discounted cash flow method, which contains numerous variables that are subject to change as business conditions change, and therefore could impact fair values in the future. The key assumptions used in determining fair value are sales growth, profitability margins, tax rates, discount rates and royalty rates.

The Company’s global WATERPIK business is experiencing customer distribution losses and a decline in consumer demand, mainly due to lower consumer spending and more customers choosing value brands amid inflation. This has reduced sales, profits, and expected cash flows, eroding much of the excess fair value over carrying value for the WATERPIK trade name. As of October 1, 2025 (the date of the Company's last annual impairment test), the trade name’s carrying value was $644.7, with fair value at 117% of carrying value, down from 135% in 2024, reflecting declining sales, rising competition, business exits, and margin pressure from higher costs and tariffs. The Company's impairment analysis used an 8.0% discount rate, projected mid-single- to low double-digit revenue growth, and EBITA margins around 25%, based on current market trends and cost-lowering initiatives. Further declines in performance or adverse changes could trigger an impairment charge for the WATERPIK trade name.

Intangible Assets With a Useful Life

The following table provides information related to the carrying value of intangible assets with a useful life:


	March 31, 2026								December 31, 2025
	Gross							Amortization	Gross
	Carrying		Accumulated					Period	Carrying		Accumulated			Impairment
	Amount		Amortization			Net		(Years)	Amount		Amortization			Charges(1)			Net
Amortizable intangible assets:
Trade Names	$	2,066.8	$	(551.8	)	$	1,515.0	3-20	$	2,113.4	$	(562.1	)	$	(11.6	)	$	1,539.7
Customer Relationships		573.3		(347.3	)		226.0	15-20		598.5		(365.2	)		(0.7	)		232.6
Patents/Formulas		200.7		(137.0	)		63.7	4-20		205.6		(139.2	)		0.0			66.4
Total	$	2,840.8	$	(1,036.1	)	$	1,804.7		$	2,917.5	$	(1,066.5	)	$	(12.3	)	$	1,838.7

(1) The $12.3 impairment charge relates to the Flawless trade name and Spinbrush customer relationship intangible asset, which had a gross value of $76.2 and accumulated amortization of $63.9 prior to full impairment. The impairments were a result of the Company's decision to exit these businesses.

Intangible amortization expense was $33.8 and $29.3 for the first quarter of 2026 and 2025, respectively. The Company estimates that intangible amortization expense will be approximately $135.0 in 2026 and approximately $134.0 declining to $120.0 annually over the next five years.

Goodwill

The carrying amount of goodwill is as follows:


	Consumer		Consumer		Specialty
	Domestic		International		Products		Total
Balance at December 31, 2025	$	2,255.4	$	237.2	$	134.9	$	2,627.5
Touchland Acquisition adjustments		1.9		0.0		0.0		1.9
Balance at March 31, 2026	$	2,257.3	$	237.2	$	134.9	$	2,629.4

The Company tests goodwill for each reporting unit, which are also the Company's reportable segments. The result of the Company’s annual goodwill impairment test, performed in the beginning of the second quarter of 2025, determined that the estimated fair value substantially exceeded the carrying values of all reporting units. The determination of fair value contains numerous variables that are subject to change as business conditions change and therefore could impact fair value in the future.

13.

Leases

The Company leases certain manufacturing facilities, warehouses, office space, railcars and equipment. Leases with an initial term of twelve months or less are not recorded on the Condensed Consolidated Balance Sheet. All recorded leases are classified as operating leases and lease expense is recognized on a straight-line basis over the lease term. Lease components (base rental costs) are accounted for separately from the nonlease components (e.g., common-area maintenance costs). For leases that do not provide an implicit rate, the Company uses its estimated secured incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments.

A summary of the Company’s lease information is as follows:


		March 31,			December 31,
	Classification	2026			2025
Assets
Right of use assets	Other Assets	$	159.7		$	166.0

Liabilities
Current lease liabilities	Accrued Expenses and Other Liabilities	$	24.6		$	23.9
Long-term lease liabilities	Deferred and Other Long-term Liabilities		147.1			153.0
Total lease liabilities		$	171.7		$	176.9

Other information
Weighted-average remaining lease term (years)			7.3			7.4
Weighted-average discount rate			5.2	%		5.2	%


	Three Months		Three Months
	Ended		Ended
	March 31, 2026		March 31, 2025
Statement of Income
Lease cost(1)	$	8.8	$	10.5

Other information
Leased assets obtained in exchange for new lease liabilities net of modifications	$	0.4	$	6.5
Cash paid for amounts included in the measurement of lease liabilities	$	7.7	$	10.5

(1)

Lease expense is included in Cost of sales or SG&A expenses based on the nature of the leased item. Short-term lease expense is excluded from this amount and is not material. The Company also has certain variable leases which are not material. The non-cash component of lease expense for the first three months of 2026 and 2025 was $6.5 and $8.1, respectively, and is included in the Amortization caption in the Condensed Consolidated Statement of Cash Flows.

The Company’s minimum annual rentals including reasonably assured renewal options under lease agreements are as follows:


	Operating
	Leases
2026	$	24.7
2027		30.9
2028		26.7
2029		26.1
2030		25.8
2031 and thereafter		73.6
Total future minimum lease commitments		207.8
Less: Imputed interest		(36.1	)
Present value of lease liabilities	$	171.7

14.

Accounts Payable, Accrued Expenses and Other Liabilities

Accounts payable, accrued expenses and other liabilities consist of the following:


	March 31,		December 31,
	2026		2025
Accounts payable	$	729.9	$	732.4
Accrued marketing and promotion costs		180.4		221.4
Accrued wages and related benefit costs		60.7		145.7
Other accrued current liabilities		408.8		394.8
Total	$	1,379.8	$	1,494.3

In 2015, the Company initiated a Supply Chain Finance program (“SCF Program”). Under the SCF Program, qualifying suppliers may elect to sell their receivables from the Company for early payment. Participating suppliers negotiate their receivables sales arrangements directly with a third party. The Company is not party to those agreements and do not have an economic interest in the suppliers' decisions to sell their receivables and has not been required to pledge any assets as security nor to provide any guarantee to third-party finance providers or intermediaries. The SCF Program may allow suppliers to obtain more favorable terms than they could secure on their own. The terms of the Company's payment obligations are not impacted by a supplier’s participation in the SCF Program. The Company's payment terms with suppliers are consistent between suppliers that elect to participate in the SCF Program and those that do not participate. As a result, the program does not have an impact to the Company's average days outstanding.

As of March 31, 2026 and December 31, 2025, the obligations outstanding related to the SCF program amounted to $115.9 and $84.7, respectively and were recorded within Accounts Payable in the Condensed Consolidated Balance Sheets. Payments included in operating activities within the Company's Condensed Consolidated Statements of Cash Flows amounted to $108.1 and $106.5 as of March 31, 2026 and 2025, respectively.

15.

Long-Term Debt

Long-term debt consists of the following:


	March 31,			December 31,
	2026			2025

Long-term debt
3.15% Senior notes due August 1, 2027	$	425.0		$	425.0
Less: Discount		(0.1	)		(0.1	)
2.3% Senior notes due December 15, 2031		400.0			400.0
Less: Discount		(0.5	)		(0.5	)
5.6% Senior notes due November 15, 2032		500.0			500.0
Less: Discount		(0.6	)		(0.7	)
3.95% Senior notes due August 1, 2047		400.0			400.0
Less: Discount		(2.1	)		(2.1	)
5.00% Senior notes due June 15, 2052		500.0			500.0
Less: Discount		(0.1	)		(0.1	)
Debt issuance costs, net		(15.9	)		(16.4	)
Total long-term debt	$	2,205.7		$	2,205.1

16.

Accumulated Other Comprehensive Income (Loss)

The components of changes in accumulated other comprehensive income (loss) are as follows:


										Accumulated
	Foreign			Defined						Other
	Currency			Benefit			Derivative			Comprehensive
	Adjustments			Plans			Agreements			Income (Loss)
Balance at January 1, 2025	$	(53.2	)	$	4.4		$	17.9		$	(30.9	)
Other comprehensive income (loss) before reclassifications		6.3			0.5			(0.3	)		6.5
Amounts reclassified to Condensed Consolidated Statement of Income (a)		0.0			0.0			(2.3	)		(2.3	)
Tax benefit (expense)		0.0			(0.1	)		0.7			0.6
Other comprehensive income (loss)		6.3			0.4			(1.9	)		4.8
Balance at March 31, 2025	$	(46.9	)	$	4.8		$	16.0		$	(26.1	)

Balance at January 1, 2026	$	(31.3	)	$	4.8		$	6.6		$	(19.9	)
Other comprehensive income (loss) before reclassifications		(4.5	)		(0.5	)		10.8			5.8
Amounts reclassified to Condensed Consolidated Statement of Income (a)		0.0			0.0			0.3			0.3
Tax benefit (expense)		0.0			0.1			(2.9	)		(2.8	)
Other comprehensive income (loss)		(4.5	)		(0.4	)		8.2			3.3
Balance at March 31, 2026	$	(35.8	)	$	4.4		$	14.8		$	(16.6	)

(a)

Amounts reclassified to Cost of sales, SG&A expenses or interest expense.

17. Commitments, Contingencies and Guarantees

Commitments

a. The Company has a partnership with a supplier of raw materials that mines and processes sodium-based mineral deposits. The Company purchases the majority of its sodium-based raw material requirements from the partnership. The partnership agreement terminates upon two years’ written notice by either partner. Under the partnership agreement, the Company has an annual commitment to purchase 240,000 tons of sodium-based raw materials at the prevailing market price. The Company is not engaged in any other material transactions with the partnership or the partner supplier.

b. As of March 31, 2026, the Company had commitments of approximately $367.8. These commitments include the purchase of raw materials, packaging supplies and services from its vendors at market prices to enable the Company to respond quickly to changes in customer orders or requirements, as well as costs associated with licensing and promotion agreements.

c. As of March 31, 2026, the Company had various guarantees and letters of credit totaling $8.9.

d. In connection with the December 1, 2020 acquisition of the ZICAM® brand (the “Zicam Acquisition”), the Company deferred payment of $20.0 of the purchase price related to certain indemnifications provided by the seller. The Company made a cash payment of $12.9 in the first quarter of 2026 and a final payment of $2.0 in April 2026.

In connection with the December 24, 2021 acquisition of the THERABREATH® brand (the "TheraBreath Acquisition"), the Company deferred payment of $14.0 of the purchase price related to certain indemnity obligations provided by the seller. The deferred amount is payable in installments between two and four years from the closing, with the first installment payment of $2.0 paid in January 2024 and an additional $5.9 paid in the first quarter of 2025. The Company paid a final amount of $5.0 in January 2026.

In connection with the October 13, 2022 Hero Acquisition, the Company deferred payment of $8.0 of the purchase price to satisfy certain indemnification obligations. The amount, to the extent not used in satisfaction of such indemnity obligations, is payable five years from the closing.

In connection with the July 16, 2025 Touchland Acquisition, the business acquisition liability was contingent upon the achievement of certain 2025 net sales thresholds. The initial fair value of this business acquisition liability was $140.0, which was established in the initial

purchase price allocation. During 2025, the Company increased the fair value of the business acquisition liability to $158.7 based on updated 2025 net sales. The changes in fair value resulted in $18.7 of expense recorded within the Consumer Domestic segment. In April 2026, the Company paid $158.7 to satisfy the business acquisition liability. The Company deferred a payment of $5.0 of the purchase price to satisfy certain indemnification obligations. The additional amount, to the extent not used in satisfaction of such indemnity obligations, is payable three years from the closing.

Legal proceedings

e. In addition, in conjunction with the Company’s acquisition and divestiture activities, the Company entered into select guarantees and indemnifications of performance with respect to the fulfillment of the Company’s commitments under applicable purchase and sale agreements. The arrangements generally indemnify the buyer or seller for damages associated with breach of contract, inaccuracies in representations and warranties surviving the closing date and satisfaction of liabilities and commitments retained under the applicable contract. Representations and warranties that survive the closing date generally survive for periods up to five years or the expiration of the applicable statutes of limitations. Potential losses under the indemnifications are generally limited to a portion of the original transaction price, or to other lesser specific dollar amounts for select provisions. With respect to sale transactions, the Company also routinely enters into non-competition agreements for varying periods of time. Guarantees and indemnifications with respect to acquisition and divestiture activities, if triggered, could have a materially adverse impact on the Company’s financial condition, results of operations and cash flows.

f. In addition to the matters described above, from time to time in the ordinary course of its business the Company is the subject of, or party to, various pending or threatened legal, regulatory or governmental actions or other proceedings, including, without limitation, those relating to, intellectual property, commercial transactions, product liability, purported consumer class actions, employment matters, antitrust, environmental, health, safety and other compliance related matters. Such proceedings are generally subject to considerable uncertainty and their outcomes, and any related damages, may not be reasonably predictable or estimable. Any such proceedings could result in a material adverse outcome negatively impacting the Company’s business, financial condition, results of operations or cash flows.

18.

Segments

Segment Information

The Company operates three reportable segments: Consumer Domestic, Consumer International and Specialty Products Division. These segments are determined based on differences in the nature of products and organizational structure.

Segment revenues are derived from the sale of the following products:


Segment			Products
Consumer Domestic			Household and personal care products
Consumer International			Primarily personal care products
SPD			Specialty products

The Company also has equity in earnings of affiliates which is not reflected in a reportable segment. As of March 31, 2026, the Company held a 50% ownership interest in Armand. The Company’s equity in earnings of Armand totaled $2.3 and $1.6 for the three months ended March 31, 2026 and 2025.

Our reportable segments comprise the structure used by our Chief Executive Officer, who has been determined to be the Chief Operating Decision Maker (“CODM”) to make key operating decisions and assess performance. The CODM considers Operating

Income for evaluating performance of each segment and making decisions about allocating capital and other resources to each segment. Asset information and capital expenditures are not regularly provided to the CODM.

The following tables present financial information relating to the Company’s segments for the three months ended March 31, 2026 and 2025:


	Three Months Ended March 31, 2026
	Consumer Domestic		Consumer International		SPD		Consolidating Reclassification(1)			Total Consolidated
Net Sales	$	1,117.7	$	273.9	$	77.7		-		$	1,469.3
Cost of sales		578.2		143.2		48.6		17.9			787.9
Gross Profit		539.5		130.7		29.1		(17.9	)		681.4
Marketing expenses		104.2		34.6		0.6		-			139.4
Research and Development(2)		27.8		3.0		0.8		-			31.6
Selling, general and administrative expenses		167.3		53.2		16.8		(17.9	)		219.4
Income from Operations		240.2		39.9		10.9		-			291.0

	Three Months Ended March 31, 2025
	Consumer Domestic		Consumer International		SPD		Consolidating Reclassification(1)			Total Consolidated
Net Sales	$	1,129.8	$	261.9	$	75.4	$	-		$	1,467.1
Cost of sales		597.4		147.3		46.4		16.4			807.5
Gross Profit		532.4		114.6		29.0		(16.4	)		659.6
Marketing expenses		107.7		28.0		0.9		-			136.6
Research and Development(2)		29.2		3.0		0.6		-			32.8
Selling, general and administrative expenses		150.7		45.9		14.7		(16.4	)		194.9
Income from Operations		244.8		37.7		12.8		-			295.3

(1)

Reflects the administrative costs of the production planning and logistics functions which are elements of Cost of sales in the Company’s Consolidated Statements of Income but are allocated to the operating segments in SG&A expenses to determine operating segment income before income taxes.

(2)

All costs for Research & Development administration, global compliance, technology support, packaging and sustainability are reported in the Consumer Domestic segment.

Other segment expenses for the three months ended March 31, 2026 and 2025 include the following:


	Consumer Domestic		Consumer International		SPD		Total Consolidated
Depreciation & Amortization
First Quarter of 2026	$	53.9	$	6.1	$	2.9	$	62.9
First Quarter of 2025		51.3		6.7		2.9		60.9

Product line revenues from external customers are as follows:


	Three Months Ended
	March 31,		March 31,
	2026		2025
Household Products	$	641.6	$	614.9
Personal Care Products		476.1		514.9
Total Consumer Domestic		1,117.7		1,129.8
Total Consumer International		273.9		261.9
Total SPD		77.7		75.4
Total Consolidated Net Sales	$	1,469.3	$	1,467.1

Household Products include laundry, deodorizing and cleaning products. Personal Care Products include condoms, pregnancy kits, oral care products, skin and hair care products, and cold and remedy products.

CHURCH & DWIGHT CO., INC. AND SUBSIDIARIES

(In millions, except per share data)

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following discussion of the Company’s financial condition and results of operations should be read in conjunction with Management’s Discussion and Analysis of Financial Condition and Results of Operations and the consolidated financial statements and related notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, which was filed with the SEC on February 12, 2026, and the unaudited condensed consolidated financial statements and related notes contained in this Quarterly Report on Form 10-Q.

Overview

We develop, manufacture and market a broad range of consumer household and personal care products and specialty products focused on animal nutrition, chemicals and commercial products. Our well-recognized brands include ARM & HAMMER® baking soda, cat litter, laundry detergent, carpet deodorizer and other baking soda-based products; OXICLEAN® stain removers, cleaning solutions, laundry detergents and bleach alternatives; BATISTE® dry shampoo; WATERPIK® water flossers; THERABREATH® oral care products; HERO® acne treatment products; TOUCHLAND® hand sanitizers; TROJAN® condoms, lubricants and vibrators; FIRST RESPONSE® home pregnancy and ovulation test kits; NAIR® depilatories; ORAJEL® oral analgesic; XTRA® laundry detergent; and ZICAM® cold shortening and relief products. Seven of those brands are designated as "power brands" because they compete in large categories, and we believe they have the potential for significant global expansion. Those seven brands are ARM & HAMMER®; OXICLEAN®; BATISTE®; WATERPIK®; THERABREATH®; HERO® and TOUCHLAND® and represent approximately 70% of our net sales and profits.

We sell our consumer products under a variety of brands through a broad distribution platform that includes supermarkets, mass merchandisers, wholesale clubs, drugstores, convenience stores, home stores, dollar and other discount stores, pet and other specialty stores and websites and other e-commerce channels, all of which sell our products to consumers. We sell our specialty products to industrial customers, livestock producers and through distributors.

We operate in three principal segments: Consumer Domestic, Consumer International, and our Specialty Products Division (“SPD”).

Recent Developments

Global Economic Conditions and Trade Policies

We have experienced higher manufacturing costs and economic uncertainty due to changes in U.S. trade policies including ongoing reviews and modifications to tariffs and other U.S. trade measures. We continue to evaluate these evolving developments and have taken actions to mitigate their impact on our business, including exiting certain business lines, shifting production and relocating manufacturing operations, finding alternative sources of supply, selectively increasing prices, adjusting inventories, seeking exemptions with respect to tariffs, and most notably ceasing the import of substantially all Waterpik flossers and certain other products from China into the U.S. While the tariffs remain fluid, we are focused on managing these challenges. We believe our existing tariff cost exposure will be mitigated through the above-mentioned actions, future additional supply chain efforts and surgical pricing.

Middle East Conflict

The ongoing geopolitical conflict in the Middle East has disrupted global shipping routes, including the Strait of Hormuz and surrounding waterways, resulting in incremental inflationary pressure on certain commodities and transportation costs, as well as increased volatility in logistics and supply chain planning. While the situation remains fluid and unpredictable, we have implemented mitigation measures, including supplier diversification, alternative routing and incremental productivity programs. Based on current conditions, we believe we can mitigate a significant portion of these transitory impacts in 2026.

Other

For additional discussion, please refer to Item 1A, Risk Factors, and Management's Discussion and Analysis of Financial Condition and Results of Operations in our Annual Report on Form 10-K.

Results of Operations

Consolidated results


	Three Months Ended			Change vs.	Three Months Ended
	March 31, 2026			Prior Year	March 31, 2025
Net Sales	$	1,469.3		0.2%	$	1,467.1
Gross Profit	$	681.4		3.3%	$	659.6
Gross Margin		46.4	%	140 basis points		45.0	%
Marketing Expenses	$	139.4		2.0%	$	136.6
Percent of Net Sales		9.5	%	20 basis points		9.3	%
Selling, General & Administrative Expenses	$	251.0		10.2%	$	227.7
Percent of Net Sales		17.1	%	+160 basis points		15.5	%
Income from Operations	$	291.0		-1.5%	$	295.3
Operating Margin		19.8	%	-40 basis points		20.2	%
Net income per share - Diluted	$	0.91		2.2%	$	0.89

Net Sales

Net sales for the quarter ended March 31, 2026 were $1,469.3, an increase of $2.2 or 0.2% as compared to the same period in 2025. The components of the net sales increase are as follows:


	Three Months Ended
	March 31,
Net Sales - Consolidated	2026
Product volumes sold(1)		5.3	%
Pricing/Product mix(2)		(0.3	%)
Foreign exchange rate fluctuations		1.1	%
Exit of product lines(3)		(8.1	%)
Acquisitions(4)		2.2	%
Net Sales increase		0.2	%

(1)

For the three months ended March 31, 2026, the volume change reflects increased product unit sales in all three segments.

(2)

For the three months ended March 31, 2026, price/mix was unfavorable in the Consumer Domestic and Consumer International segment, partially offset by the SPD segment.

(3)

In the fourth quarter of 2025, we divested the vitamin business. In the second quarter of 2025, we announced that we are exiting the Flawless, Spinbrush, and Waterpik showerhead businesses. The business exits were completed by the end of 2025.

(4)

In the third quarter of 2025, we completed the acquisition of Touchland.

Gross Profit / Gross Margin

Our gross profit was $681.4 for the three months ended March 31, 2026, a $21.8 increase as compared to the same period in 2025. Gross margin increased 140 basis points (“bps”) in the first quarter of 2026 compared to the same period in 2025. The increase in gross margin was primarily due to the impact of productivity programs of 150 bps, benefits of the Touchland Acquisition combined with the impact of business exits of 110 bps, favorable volume/price/mix of 50 bps and favorable foreign exchange of 10 bps, partially offset by the impact of higher manufacturing costs of 180 bps (including labor, inflation in commodities and transportation and higher tariffs, net of tariff mitigation actions).

Operating Expenses

Marketing expenses for the three months ended March 31, 2026 were $139.4, an increase of $2.8 or 2.0% as compared to the same period in 2025. Marketing expenses as a percentage of net sales in the first quarter of 2026 increased by 20 bps to 9.5% compared to 9.3% in the same period in 2025 due to increased investment in our brands and new products, supporting our innovation initiatives and organic growth.

SG&A expenses were $251.0 in the first quarter of 2026, an increase of $23.3 or 10.2% as compared to the same period in 2025. SG&A as a percentage of net sales increased 160 bps to 17.1% in the first quarter of 2026 as compared to 15.5% in the same period in

2025. The increase is primarily due to the Touchland Acquisition and focused investments in new growth initiatives, e-commerce and our international business.

Income from Operations

Operating margin decreased 40 basis points to 19.8% for the three months ended March 31, 2026, as compared to 20.2% in the same period in 2025.

Nonoperating Expenses

Interest income for the three months ended March 31, 2026 decreased $6.8 to $2.5 as compared to the same period in 2025 due to lower investment income from lower average cash balances.

Interest expense for the three months ended March 31, 2026 increased $0.7 to $24.0, as compared to the same period in 2025.

Other income (expense) was nominal for the three months ended March 31, 2026 and 2025.

Income Taxes

The effective tax rate for the three months ended March 31, 2026 was 20.7%, compared to 22.0% in the same period in 2025. The decrease is primarily due to lower state income taxes offset by lower stock option exercises.

Diluted EPS

We reported diluted net earnings per share for the three months ended March 31, 2026 of $0.91, an increase of approximately 2.2% from diluted net earnings per share of $0.89 for the three months ended March 31, 2025.

Segment results

We operate three reportable segments: Consumer Domestic, Consumer International and SPD. These segments are determined based on differences in the nature of products and organizational structure.


Segment			Products
Consumer Domestic			Household and personal care products
Consumer International			Primarily personal care products
SPD			Specialty products

Segment net sales and income from operations for the three months ended March 31, 2026 and March 31, 2025 are as follows:


	Consumer		Consumer
	Domestic		International		SPD		Total
Net Sales
First Quarter of 2026	$	1,117.7	$	273.9	$	77.7	$	1,469.3
First Quarter of 2025		1,129.8		261.9		75.4		1,467.1

Income from Operations
First Quarter of 2026	$	240.2	$	39.9	$	10.9	$	291.0
First Quarter of 2025		244.8		37.7		12.8		295.3

Product line revenues from external customers are as follows:


	Three Months Ended
	March 31,		March 31,
	2026		2025
Household Products	$	641.6	$	614.9
Personal Care Products		476.1		514.9
Total Consumer Domestic		1,117.7		1,129.8
Total Consumer International		273.9		261.9
Total SPD		77.7		75.4
Total Consolidated Net Sales	$	1,469.3	$	1,467.1

Household Products include laundry, deodorizing, and cleaning products. Personal Care Products include condoms, pregnancy kits, oral care products, skin and hair care products, and cold and remedy products.

Consumer Domestic

Consumer Domestic net sales in the first quarter of 2026 were $1,117.7, a decrease of $12.1 or 1.1% as compared to the same period in 2025. The components of the net sales change were as follows:


	Three Months Ended
	March 31,
Net Sales - Consumer Domestic	2026
Product volumes sold		5.5	%
Pricing/Product mix		(0.1	%)
Exit of product lines (1)		(9.0	%)
Acquisition(2)		2.5	%
Net Sales decrease		(1.1	)%

(1)

In the fourth quarter of 2025, we divested the vitamin business. In the second quarter of 2025, we announced that we are exiting the Flawless, Spinbrush, and Waterpik showerheads businesses. The business exits were completed by the end of 2025.

(2)

The Touchland Acquisition is included in our results since July 16, 2025, the date of acquisition.

Net sales excluding business exits and the acquisition of Touchland increased for the three months ended March 31, 2026, reflecting growth from THERABREATH® mouth wash and toothpaste, ARM & HAMMER® Cat Litter, HERO® acne treatment products, and OXICLEAN® powder, partially offset by declines in WATERPIK® Oral Care.

Consumer Domestic income from operations for the first quarter of 2026 was $240.2, a decrease of $4.6 as compared to the first quarter of 2025. Consumer Domestic income from operations benefited from strong organic sales growth across household and personal care, plus sales volume from the Touchland Acquisition. Partially offsetting these volume benefits is the sales impact from the exited businesses. In total, increased sales volumes and changes in mix, primarily from the exited businesses, resulted in a net benefit of $17.2. Additionally, Consumer Domestic realized the benefit of productivity programs of $19.2 and a reduction in marketing expenses of $3.7 due to the exited businesses. These benefits were offset by higher manufacturing and distribution expenses of $29.2 due to inflation and sales volumes as well as higher SG&A expenses of $15.2 primarily related to the Touchland Acquisition.

Consumer International

Consumer International net sales were $273.9 in the first quarter of 2026, an increase of $12.0 or 4.6% as compared to the same period in 2025. The components of the net sales change were as follows:


	Three Months Ended
	March 31,
Net Sales - Consumer International	2026
Product volumes sold		5.3	%
Pricing/Product mix		(1.6	%)
Foreign exchange rate fluctuations		5.9	%
Exit of product lines (1)		(6.1	%)
Acquisitions(2)		1.1	%
Net Sales increase		4.6	%

(1)

(2)

The Touchland Acquisition is included in our results since July 16, 2025, the date of acquisition.

Net sales excluding business exits, the acquisition of Touchland and changes in foreign exchange rates increased in the first quarter ended March 31, 2026 primarily driven by THERABREATH® mouth wash, BATISTE® dry shampoo and HERO® acne treatment products in the Global Markets Group, HERO® acne treatment products in Germany and UK, and ARM & HAMMER® Cat Litter in Canada partially offset by lower sales in the middle east region.

Consumer International income from operations was $39.9 in the first quarter of 2026, an increase of $2.2 as compared to the first quarter of 2025. Consumer International income from operations benefited from strong organic sales growth across the portfolio, plus sales volume from the Touchland Acquisition. Partially offsetting these volume benefits is the sales impact from the exited businesses. In total, increased sales volumes and changes in mix, primarily from the exited businesses, resulted in a net benefit of $6.4. Consumer International also experienced favorable manufacturing and distribution expenses of $5.4. These benefits were partially offset by higher SG&A expenses of $7.3 primarily due to the Touchland Acquisition, higher marketing expenses of $6.5 to support growth, and unfavorable price/mix of $3.3. Income from operations was also impacted by favorable foreign exchange rates of $7.6.

Specialty Products (“SPD”)

SPD net sales were $77.7 in the first quarter of 2026, an increase of $2.3 or 3.1% as compared to the same period in 2025. The components of the net sales change were as follows:


	Three Months Ended
	March 31,
Net Sales - SPD	2026
Product volumes sold		2.0	%
Pricing/Product mix		1.1	%
Net Sales increase		3.1	%

Net sales increased in the three months ended March 31, 2026 primarily due to growth in our sodium bicarbonate and animal nutrition businesses.

SPD income from operations was $10.9 in the first quarter of 2026, a decrease of $1.9 compared to the first quarter of 2025 due to higher SG&A expenses of $2.3 and unfavorable manufacturing costs of $1.1, partially offset by favorable price/mix of $0.8, higher volumes of $0.5 and lower marketing expenses of $0.3.

Equity in Earnings of Affiliates

Equity in earnings of affiliates represents the results of Armand in the three months ended March 31 2026 and 2025.

Liquidity and Capital Resources

On July 17, 2025, the Company entered into a new unsecured revolving Credit Agreement (the “Credit Agreement”). The Credit Agreement replaced the Company’s prior $1,500.0 unsecured revolving credit facility that was entered into on June 16, 2022. The aggregate commitments of the lenders under the Credit Agreement are $2,000.0, with an option to increase such commitments to $2,750.0. The revolving credit facility matures on July 17, 2030, unless extended. Borrowings under the Credit Agreement are available for general corporate purposes and are used to support our $2,000.0 commercial paper program.

As of March 31, 2026, we had $503.4 in cash and cash equivalents, and approximately $1,993.0 available through our revolving credit facility and our commercial paper program. To preserve our liquidity, we invest cash primarily in government money market funds, prime money market funds, short-term commercial paper and short-term bank deposits.

The current economic environment presents risks that could have adverse consequences for our liquidity. See “Our operating results have been, and could be in the future, adversely affected by natural disasters, public health crises, political crises, or other catastrophic events, or unfavorable worldwide, regional and local economic and financial market conditions” under “Risk Factors” in Item 1A of the Form 10-K. We continue to manage all aspects of our business including, but not limited to, monitoring the financial health of our customers, suppliers and other third-party relationships, implementing gross margin enhancement strategies and developing new opportunities for growth. We do not anticipate that current economic conditions will adversely affect our ability to comply with the financial covenant in the Credit Agreement because we currently are, and anticipate that we will continue to be, in compliance with the maximum leverage ratio requirement under the Credit Agreement.

On October 28, 2021, the Board authorized the Company’s share repurchase program, under which we may repurchase up to $1,000.0 in shares of Common Stock (the “2021 Share Repurchase Program”). The 2021 Share Repurchase Program does not have an expiration and replaced the 2017 Share Repurchase Program.

We have $228.9 of share repurchase availability under the 2021 Share Repurchase Program as of March 31, 2026.

The 2021 Share Repurchase Program did not modify our evergreen share repurchase program, authorized by the Board on January 29, 2014, under which we may repurchase, from time to time, Common Stock to reduce or eliminate dilution associated with issuances of Common Stock under our incentive plans.

On January 28, 2026, the Board declared a 4.2% increase in the regular quarterly dividend from $0.295 to $0.3075 per share (equivalent to an annual dividend of $1.23 per share) payable to stockholders of record as of February 13, 2026. The increase raises the annualized dividend payout from $287.0 to approximately $291.0 on an annualized basis.

We anticipate that our cash from operations, together with our current borrowing capacity, will be sufficient to fund our share repurchase programs to the extent implemented by management, pay debt and interest as it comes due, pay dividends at the latest approved rate, and meet our capital expenditure program costs, which are expected to be approximately $130.0 in 2026 including manufacturing capacity investments for THERABREATH® and Sterimar and an enterprise resource planning (ERP) project. Cash, together with our current borrowing capacity, may be used for acquisitions that would complement our existing product lines or geographic markets.

Cash Flow Analysis


	Three Months Ended
	March 31,			March 31,
	2026			2025
Net cash provided by operating activities	$	174.8		$	185.7
Net cash used in investing activities	$	(33.5	)	$	(16.7	)
Net cash used in financing activities	$	(44.9	)	$	(61.0	)

Net Cash Provided by Operating Activities – Our primary source of liquidity is the cash flow provided by operating activities, which is dependent on net income and changes in working capital. Our net cash provided by operating activities in the three months ended March 31, 2026 decreased by $10.9 to $174.8 as compared to $185.7 in the same period in 2025 due to an increase in working capital partially offsetting an increase in cash earnings (net income adjusted for non-cash items). The increase in working capital is primarily related to the timing of income tax payments and higher inventory purchases to support growth partially offset by an increase in accounts payable. We measure working capital effectiveness based on our cash conversion cycle. The following table presents our cash conversion cycle information for the quarters ended March 31, 2026 and 2025:


	Quarter ended as of
	March 31, 2026		March 31, 2025(1)		Change
Days of sales outstanding in accounts receivable ("DSO")		35		35		-
Days of inventory outstanding ("DIO")		64		70		(6	)
Days of accounts payable outstanding ("DPO")		79		77		(2	)
Cash conversion cycle		20		28		(8	)

(1)

The March 31, 2025 cash conversion cycle calculation was revised to reflect a quarter-to-quarter four-period average method.

The cash conversion cycle (defined as the sum of DSO and DIO less DPO) is calculated using a quarter-to-quarter four-period average method. The Company considers the four-period average preferable to the previously employed two-period average as it mitigates period-to-period volatility. If the prior two-period average method had been applied as of March 31, 2025, DIO would still reflect a decrease of six days and the cash conversion cycle would still reflect a decrease of eight days compared to the previous year. The decrease in DIO is primarily attributable to enhanced inventory management initiatives. We continue to focus on reducing our working capital requirements.

Net Cash Used in Investing Activities – Net cash used in investing activities during the first three months of 2026 was $33.5, primarily reflecting $31.9 for additions to property, plant, and equipment. Net cash used in investing activities during the first three months of 2025 was $16.7, primarily reflecting $16.5 for property, plant and equipment additions.

Net Cash Used in Financing Activities – Net cash used in financing activities during the first three months of 2026 was $44.9, reflecting $72.9 of cash dividend payments and $19.8 related to business acquisition liability payments, partially offset by a $36.2 source of cash from the Company's TSA agreement with Piping Rock and proceeds from stock option exercises of $16.6. Net cash used in financing activities during the first three months of 2025 was $61.0, reflecting $72.4 of cash dividend payments and $5.9 related to the payment of a business acquisition liability, partially offset by $19.3 of proceeds from stock option exercises.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK

Market risk

For quantitative and qualitative disclosures about market risk affecting the Company, see “Quantitative and Qualitative Disclosures About Market Risk” in Item 7A of Part II in the Form 10-K.

ITEM 4. CONTROLS AND PROCEDURES

a) Evaluation of Disclosure Controls and Procedures

The Company’s management, with the participation of the Company’s Chief Executive Officer and Chief Financial Officer, evaluated the effectiveness of the Company’s disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) at the end of the period covered by this report. Based on that evaluation, the Chief Executive Officer and Chief Financial Officer concluded that the Company’s disclosure controls and procedures, as of the end of the period covered by this report, are effective to provide reasonable assurance that the information required to be disclosed by the Company in reports filed under the Exchange Act is (i) recorded, processed, summarized and reported within the time periods specified in the rules and forms of the United States Securities and Exchange Commission (the “Commission”), and (ii) accumulated and communicated to the Company’s management, including the Chief Executive Officer and Chief Financial Officer, as appropriate to allow timely decisions regarding the disclosure.

b) Change in Internal Control over Financial Reporting

There were no changes in the Company’s internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) occurring during the Company’s most recent fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Company’s internal control over financial reporting.

CAUTIONARY NOTE ON FORWARD-LOOKING INFORMATION

This report contains forward-looking statements, including, among others, statements relating to net sales and earnings growth; the impact of the Touchland Acquisition; the impact of tariffs; the intended benefits of the exploration of strategic alternatives for certain of our businesses; gross margin changes; trade and marketing spending; marketing expense as a percentage of net sales;

sufficiency of cash flows from operations; earnings per share; the impact of new accounting pronouncements; cost savings programs; recessionary conditions; interest rates; inflation; 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 report 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; the impact of new regulations and legislation and change in regulatory priorities; 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 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, 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 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 complete the announced strategic alternatives for certain of our businesses and realize the intended benefits; the risk that the announcement of strategic alternatives could have an adverse effect on the Company; 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.

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 United States federal securities laws. You are advised, however, to consult any further disclosures the Company makes on related subjects in its filings with the Commission.

PART II – OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

General

The Company, in the ordinary course of its business, is the subject of, or party to, various pending or threatened legal actions, government investigations and proceedings from time to time, including, without limitation, those relating to commercial transactions, product liability, purported consumer class actions, employment matters, antitrust, environmental, health, safety and other compliance related matters. Such proceedings are subject to many uncertainties and the outcome of certain pending or threatened legal actions may not be reasonably predictable and any related damages may not be estimable. Certain legal actions could result in an adverse outcome for us, and any such adverse outcome could have a material adverse effect on our business, financial condition, results of operations, and cash flows.

ITEM 1A. RISK FACTORS

In addition to the other information set forth in this report, you should carefully consider the factors discussed in Item 1A, “Risk Factors” in the Form 10-K, which could materially affect the Company’s business, financial condition or future results.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

The Company repurchases shares of its Common Stock from time to time pursuant to its publicly announced share repurchase programs.

During the first quarter of 2026, the Company did not repurchase any shares of Common Stock pursuant to its share repurchase programs. The following table contains information for shares repurchased during the first quarter of 2026, which was solely due to shares of Common Stock withheld by the Company to satisfy tax withholding obligations in connection with the vesting of restricted stock.

There remains $228.9 of share repurchase availability under the 2021 Share Repurchase Program as of March 31, 2026.


Period	Total Number of Shares Purchased		Average Price Paid per Share		Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs		Approximate Dollar Value of Shares that May Yet Be Purchased Under All Programs
1/1/2026 to 1/31/2026		-	$	-		-	$	228,905,959
2/1/2026 to 2/28/2026		-		-		-	$	228,905,959
3/1/2026 to 3/31/2026		48,837		103.14		-	$	228,905,959
Total		48,837	$	103.14		-

ITEM 5. OTHER INFORMATION

Securities Trading Plans of Directors and Executive Officers

During the three months ended March 31, 2026, none of our directors or executive officers (as defined in Rule 16a-1(f) under the Exchange Act) adopted or terminated any contract, instruction or written plan for the purchase or sale of the Company's securities that was intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) or any “non-Rule 10b5-1 trading arrangement” (as defined in Item 408(a) of Regulation S-K).

ITEM 6. EXHIBITS

Exhibit Index



	(3.1)	Amended and Restated Certificate of Incorporation of the Company, incorporated by reference to Exhibit 3.1 to the Company’s quarterly report on Form 10-Q filed on June 30, 2020.

	(3.2)	Amendment to the Company’s Amended and Restated Certificate of Incorporation, incorporated by reference to Exhibit 3.1 to the Company’s current report on Form 8-K filed on April 30, 2021.

	(3.3)	Amendment to the Company’s Amended and Restated Certificate of Incorporation, incorporated by reference to Exhibit 3.1 to the Company’s current report on Form 8-K filed on May 6, 2024.

	(3.4)	By-laws of the Company, amended and restated as of April 27, 2023, incorporated by reference to Exhibit 3.1 to the Company’s current report on Form 8-K filed on April 28, 2023.

	(10.1)	Church & Dwight Co., Inc. Employee Stock Purchase Plan, as approved by the Company’s stockholders on April 7, 2023, and amended and restated as of April 4, 2026.

	(10.2)	Amended and Restated Change in Control and Severance Agreement by and between the Company and Richard A. Dierker, dated February 5, 2026.

	(31.1)	Certification of the Chief Executive Officer of the Company pursuant to Rule 13a-14(a) under the Securities Exchange Act.

	(31.2)	Certification of the Chief Financial Officer of the Company pursuant to Rule 13a-14(a) under the Securities Exchange Act.

	(32.1)	Certification of the Chief Executive Officer of the Company pursuant to Rule 13a-14(b) under the Exchange Act and 18 U.S.C. Section 1350.

	(32.2)	Certification of the Chief Financial Officer of the Company pursuant to Rule 13a-14(b) under the Exchange Act and 18 U.S.C. Section 1350.

	(101.INS)	Inline XBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.

	(101.SCH)	Inline XBRL Taxonomy Extension Schema With Embedded Linkbase Documents

	(104)	Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101)

•

Indicates documents filed herewith.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.


		CHURCH & DWIGHT CO., INC.
		(REGISTRANT)

DATE:	May 1, 2026	/s/ Lee B. McChesney
		LEE B. MCCHESNEY
		Executive Vice President
		and Chief Financial Officer
		(Principal Financial Officer)

DATE:	May 1, 2026	/s/ Joseph J. Longo
		JOSEPH J. LONGO
		VICE PRESIDENT AND
		CONTROLLER
		(PRINCIPAL ACCOUNTING OFFICER)

EXHIBIT 10.1

CHURCH & DWIGHT CO., INC.

EMPLOYEE STOCK PURCHASE PLAN

As Amended and Restated Effective as of April 4, 2026

1. Purpose.

The purpose of the Church & Dwight Co., Employee Stock Purchase Plan (the “Plan”) is to encourage and enable Eligible Employees of Church and Dwight Co., (the “Company”) and certain Designated Subsidiaries to acquire proprietary interests in the Company through the ownership of the Company’s Common Stock purchased through accumulated payroll deductions on an after-tax basis. The Plan is intended to be an “employee stock purchase plan” under Section 423 of the Code and the provisions of the Plan shall be construed so as to extend and limit participation in a manner consistent with the requirements of that section of the Code.

2. Definitions.

The following words or terms have the following meanings:

(a) “Agent” means the agent, broker or other administrator, including without limitation, employees of the Employer, appointed by the Committee pursuant to Section 4(b) hereof.

(b) “Annual Pay” means an amount equal to the annual basic rate of pay of an Eligible Employee, in the form of base salary or wages, as determined from the payroll records of the Company or Designated Subsidiary, including amounts contributed by an Eligible Employee under Section 401(k) or 125 of the Code, but excluding all other cash and non-cash compensation paid to an Eligible Employee during a Purchase Period by the Company or Designated Subsidiary. Without limiting the generality of the foregoing, Annual Pay shall not include overtime, incentive compensation (including any compensation attributable to the grant, vesting, exercise, payment or disposition of stock options, restricted stock units, restricted stock, performance stock units or any other equity-based award), any amount includible in an Eligible Employee’s income as a result of making an election under Section 83(b) of the Code, commissions, bonuses, any contributions by the Company or Designated Subsidiary, to, or benefits paid under, the Plan or any other pension, profit-sharing, fringe benefit, group insurance or other employee welfare plan or any deferred compensation arrangement (other than pursuant to Section 401(k) or 125 of the Code), expenses and reimbursements, and any other special or extraordinary compensation. Notwithstanding the foregoing, the Committee, in its sole discretion, may adjust the types of compensation constituting Annual Pay; provided that any such determination shall be applied on a uniform and consistent basis to all Eligible Employees.

(d) “Code” means the Internal Revenue Code of 1986, as amended.

(e) “Committee” means the Compensation & Human Capital Committee of the Board of Directors of the Company, any successor committee or such other committee the Board of Directors appoints to administer the Plan. To the extent that no Committee exists which has the authority to administer the Plan, the functions of the Committee shall be exercised by the Board of Directors.

(f) “Company” means Church & Dwight Co., Inc. a corporation organized under the laws of Delaware or any successor corporation thereto.

(g) “Continuous Service” means the period of time, uninterrupted by a termination of employment, and immediately preceding an Offering Date, that an Employee has been employed by the Company and/or a Subsidiary. Such period of time shall include any separation period of leave or layoff of less than three months, or such longer period solely to the extent that the Employee’s right to reemployment with the Company and/or Subsidiary is provided either by statute or by contract, occurring

within such period of time. For the purposes of the Plan, any period of leave or layoff three months or longer, unless the Employee’s right to reemployment with the Company and/or a Subsidiary is provided either by statute or by contract, shall be deemed to cause a termination of employment effective as of the end of the third month of such leave or layoff, or such longer period that the Employee’s right to reemployment with the Company and/or a Subsidiary is provided either by statute or by contract.

(h) “Designated Subsidiaries” means each Subsidiary listed on Exhibit A and future Subsidiaries and Parents (if any) that are specifically designated to participate in the Plan by the Committee from time to time in its sole discretion. No Subsidiary or Parent (if any), whether located in jurisdictions outside of the United States or in the United States, shall be a Designated Subsidiary unless specifically designated by the Committee. The Committee may revoke the designation of any Subsidiary or Parent as a Designated Subsidiary and may exclude the employees of any specified Designated Subsidiary from any offering under the Plan.

(i) “Effective Date” means April 27, 2023.

(j) “Eligible Employee” means each person who on an Offering Date: (i) is an Employee of the Company or a Designated Subsidiary; and (ii) is not deemed for the purposes of Section 423 of the Code and regulations promulgated thereunder to own, directly or indirectly and by certain rules of constructive ownership, stock possessing 5% or more of the total combined voting power or value of all classes of stock of the Company, a Subsidiary or Parent (if any). Notwithstanding the foregoing, (i) Employees who are members of a collective bargaining unit shall be included under the Plan, unless their collective bargaining agreement excludes the Employee (or the bargaining unit of which the Employee is a member) from participation in the Plan; and (ii) the Committee may exclude the Employees of any specified Designated Subsidiary from any offering under the Plan.

(k) “Employee” means each person employed by the Company, a Subsidiary or a Parent (if any).

“Employee”, as used herein, shall not include an agent or an independent contractor. An individual classified by the Employer at the time services are provided as either an independent contractor or an individual who is not classified by the Employer as an Employee but who provides services to the Employer through another entity or otherwise shall not be eligible to participate in the Plan during the period that the individual is so initially classified, even if such individual is later retroactively reclassified as an employee during all or any part of such period pursuant to applicable law or otherwise.

(l) “Employer” means, with respect to any Employee, the Company or Designated Subsidiary by which the Employee is employed.

(m) “Exchange Act” means the Securities Exchange Act of 1934, as amended.

(n) “Market Price” means the closing price of the Common Stock as reported on the principal market, trading system or exchange on which the Company’s Shares are traded as of the applicable purchase date, or if there was no sale on such date, than as of the next preceding date on which there was a sale.

(o) “Offering Date” means the first business day of each calendar quarter or any other period of time designated by the Committee. The first Offering Date under the Plan shall be the date determined by the Committee in its sole discretion.

(p) “Option” means the right or rights granted to Eligible Employees to purchase the Company’s Common Stock under an offering made under the Plan and pursuant to such Eligible Employees’ elections to purchase.

(q) “Parent” means any corporation (other than the Company) in an unbroken chain of corporations ending with the Company if, at the time of the granting of an Option, each of the corporations

other than the employer corporation owns stock possessing fifty percent (50%) or more of the total combined voting power of all classes of stock in one of the other corporations in such chain.

(r) “Participant” means an Eligible Employee who participates in the Plan.

(s) “Plan” means the Church & Dwight Co., Inc. Employee Stock Purchase Plan, as amended from time to time.

(t) “Plan Year” means a twelve-month period beginning January 1 and ending December 31 for which the Plan is in effect, except for the first Plan Year which shall be effective when the Committee commences the Plan and ends on the next succeeding December 31.

(u) “Purchase Date” means the last business day of each calendar quarter or such other dates determined by the Committee. The Committee shall determine, in its sole discretion, when the first Purchase Date under the Plan shall commence.

(v) “Purchase Period” means the period beginning on an Offering Date and ending on the next succeeding Purchase Date. The Committee shall determine, in its sole discretion, when the first Purchase Period under the Plan shall commence.

(w) “Rule 16b-3” means Rule 16b-3 promulgated under Section 16(b) of the Exchange Act as then in effect or any successor provisions.

(x) “Shares” or “Common Stock” means shares of the Company’s common stock, par value $1.00 per share.

(y) “Subsidiary” means any corporation (other than the Company) in an unbroken chain of corporations beginning with the Company if, at the time of the granting of an Option, each of the corporations other than the last corporation in the unbroken chain owns stock possessing fifty percent (50%) or more of the total combined voting power of all classes of stock in one of the other corporations in such chain.

(z) “Subscription Period” means, with respect to each Option, the first day of the preceding Purchase Period through the 20th day of the last month preceding the Purchase Period, or such other period of time designated by the Committee, in its sole discretion, in any offer of Common Stock under the Plan beginning on the first day Eligible Employees may elect to purchase Shares and ending on the last day such elections to purchase are authorized to be received and accepted.

3. Shares Reserved for Plan.

(a) The Shares of the Company’s Common Stock to be sold to Eligible Employees under the Plan may, at the election of the Committee, be purchased by the Agent on the open market or may be treasury shares or newly-issued and authorized Shares delivered to the Plan, upon such terms as the Committee may approve. The maximum number of Shares which shall be reserved and made available for sale under the Plan shall be 750,000, subject to adjustment as provided in paragraph (b) of this section. The Shares reserved may be issued and sold pursuant to one or more offerings under the Plan. With respect to each offering, the Committee may specify the number of Shares to be made available, the length of the Subscription Period, the length of the Purchase Period, the Offering Dates and such other terms and conditions not inconsistent with the Plan as may be necessary or appropriate. In no event shall the Subscription Period and the Purchase Period together exceed twenty-seven (27) months for any offering.

(b) In the event of any increase, reduction, or change or exchange of Common Stock for a different number or kind of Shares or other securities of the Company by reason of a reclassification, recapitalization, merger, consolidation, reorganization, stock dividend, spin off, stock split or reverse stock split, combination or exchange of Shares, repurchase of Shares, change in corporate structure or otherwise, the Committee shall conclusively determine the appropriate equitable adjustments, if any, to

be made under the Plan, including without limitation adjustments to the number of Shares which have been authorized for issuance under the Plan but have not yet been placed under Option, as well as the price per Share of Common Stock covered by each Option under the Plan which has not yet been exercised.

4. Administration of the Plan.

(a) The Plan shall be administered by the Committee and the Committee may select an administrator or any other person to whom its duties and responsibilities hereunder may be delegated. The Committee shall have full power and authority, subject to the provisions of the Plan, to promulgate such rules and regulations as it deems necessary for the proper administration of the Plan (including, without limitation, rules and regulations prohibiting or limiting a Participant’s ability to transfer Shares purchased pursuant to the Plan from such Participant’s account to a different account with the same or a different securities brokerage firm), to interpret the provisions and supervise the administration of the Plan, and to take all actions in connection therewith or in relation thereto as it deems necessary or advisable. The Committee may adopt special guidelines and provisions for persons who are residing in, or subject to the laws of, jurisdictions outside of the United States which may include: (i) an amendment to the terms of the Plan, or an offering; (ii) separate offerings under the Plan to, among other things, reflect the impact of local law outside of the United States to comply with applicable laws, including, without limitation, tax and securities laws as applied to one or more Eligible Employees of a Designated Subsidiary; and (iii) the establishment of sub-plans. The Committee may further limit the eligibility of certain Eligible Employees of a Designated Subsidiary outside the United States to reflect the impact of local law outside of the United States and may, where appropriate, establish one or more sets of guidelines or sub-plans to reflect such limitations. Any terms applicable to offerings outside the United States are intended to be administered in a manner consistent with Section 423 of the Code, unless otherwise required or necessary under applicable law, in which case that component of the Plan may be treated as a plan not subject to Section 423 of the Code (without impacting the component of the Plan intended to be treated as a plan subject to Section 423 of the Code). All interpretations and determinations of the Committee shall be made in its sole and absolute discretion based on the Plan document and shall be final, conclusive and binding on all parties.

(b) The Committee may employ such legal counsel, consultants, brokers and agents as it may deem desirable for the administration of the Plan and may rely upon any opinion received from any such counsel or consultant and any computation received from any such consultant, broker or agent. The Committee may, in its sole discretion, designate an Agent to administer the Plan, purchase and sell Shares in accordance with the Plan, keep records, send statements of account to employees and to perform other duties relating to the Plan, as the Committee may request from time to time. The Agent shall serve as custodian for purposes of the Plan and Common Stock purchased under the Plan shall be held by and in the name of, or in the name of a nominee of, the custodian for the benefit of each Participant, who shall thereafter be a beneficial stockholder of the Company. The Committee may adopt, amend or repeal any guidelines or requirements necessary for the custody and delivery of the Common Stock, including, without limitation, guidelines regarding the imposition of reasonable fees in certain circumstances.

(c) The Company shall, to the fullest extent permitted by law and the Certificate of Incorporation and By-laws of the Company and, to the extent not covered by insurance, indemnify each director, officer or employee of the Employer (including the heirs, executors, administrators and other personal representatives of such person) and each member of the Committee against all expenses, costs, liabilities and losses (including attorneys’ fees, judgments, fines, excise taxes or penalties, and amounts paid or to be paid in settlement) actually and reasonably incurred by such person in connection with any threatened, pending or actual suit, action or proceeding (whether civil, criminal, administrative or investigative in nature or otherwise) in which such person may be involved by reason of the fact that he or she is or was serving this Plan in any capacity at the request of the Company, except in instances where any such person engages in willful misconduct or fraud. Such right of indemnification shall include the right to be paid by the Company for expenses incurred or reasonably anticipated to be incurred in defending any such suit, action or proceeding in advance of its disposition; provided, however, that the

payment of expenses in advance of the settlement or final disposition of a suit, action or proceeding, shall be made only upon delivery to the Company of an undertaking by or on behalf of such person to repay all amounts so advanced if it is ultimately determined that such person is not entitled to be indemnified hereunder. Such indemnification shall be in addition to any rights of indemnification the person may have as a director, officer or employee or under the Certificate of Incorporation of the Company or the By-Laws of the Company. Expenses incurred by the Committee or the Board of Directors in the engagement of any such counsel, consultant or agent shall be paid by the Company.

(d) To the fullest extent not prohibited by law, the Committee shall have the authority to delegate some or all of its authority with respect to this Plan, as it may deem advisable to one or more of its members or to any officers or directors of the Company or any other person or committee designated by the Committee. Any delegation hereunder shall be subject to the restrictions and limits that the Committee specifies at the time of such delegation or thereafter. Nothing in this Plan shall be construed as obligating the Committee to delegate authority to any person, and the Committee may at any time rescind the authority delegated to any person and delegate authority to one or more other persons. At all times, any person delegated authority pursuant to this Section 4(d) shall serve in such capacity at the pleasure of the Committee. Any action undertaken by any such person or persons in accordance with the Committee’s delegation of authority shall have the same force and effect as if undertaken directly by the Committee, and any reference in this Plan to the “Committee” shall, to the extent consistent with the terms and limitations of such delegation, be deemed to include a reference to each and all such persons.

5. Participation in the Plan.

Options to purchase the Company’s Common Stock under the Plan shall be granted to all Eligible Employees; provided, however, that solely to the extent allowable under Section 423 of the Code, the Committee may determine that an offering of Common Stock under the Plan will not be extended to highly compensated employees (within the meaning of Code Section 414(q)) with compensation above a certain level or who are officers or subject to the disclosure requirements of Section 16(a) of the Exchange Act, provided the exclusion is applied in an identical manner to all highly compensated employees of the Employer. Effective as of the Effective Date until modified by the Committee, persons who are highly compensated employees (within the meaning of Code Section 414(q) with compensation at any level or who are officers or who are subject to the disclosure requirements of Section 16(a) of the Exchange Act shall be eligible to participate in the Plan.

Notwithstanding the foregoing, Employees who are citizens or residents of a foreign jurisdiction (without regard to whether they are also citizens of the United States or resident aliens within the meaning of Code Section 7701(b)(1)(A)) may not participate in the Plan, unless otherwise permitted by the Committee, if (a) the grant of an Option under the Plan to such Employee is prohibited under the laws of the applicable foreign jurisdiction, or (b) compliance with the laws of the foreign jurisdiction would cause the Plan or an offering thereunder to violate the requirements of Code Section 423.

6. Purchase Price.

The purchase price per Share of the Common Stock subject to an offering pursuant to the Plan shall be determined by the Committee in its sole discretion, but in no event shall the price be less than 85% of the lesser of (i) the Market Price of a Share of Common Stock on the Offering Date (i.e., the first trading day of the applicable quarterly Offering Period) or (ii) the Market Price of a Share of Common Stock on the Purchase Date (i.e., the last trading day of the applicable quarterly Offering Period). Effective with the first Offering Period under the Plan, until modified by the Committee, the purchase price will be 85% of the Market Price of a Share of Common Stock on the Purchase Date.

7. Method of Payment.

Payment for Shares purchased pursuant to the Plan shall be made in installments through payroll deductions, with no right of prepayment.

8. Employee’s Election to Purchase; Grants of Options.

(a) In order to enroll and participate in the Plan, an Eligible Employee must make an election on a form provided by the Committee (or designee) stating the Eligible Employee’s desire to purchase Shares under the Plan during the Purchase Period in an amount (on an after-tax basis) not less than 1% but not more than 10% of the Eligible Employee’s Annual Pay which he or she elects to have withheld each payroll period during the Purchase Period. In order to be given effect, an Eligible Employee’s election to purchase Shares must be delivered on or before the last day of the Subscription Period to the person or office designated by the Committee to receive and accept such elections. Except as otherwise provided in the Plan or as determined by the Committee or its designee, once enrolled in the Plan, a Participant's payroll deduction authorization indicating his or her election to purchase Shares shall remain in effect unless and until modified or canceled by the Participant; provided, however that, effective April 4, 2026, if a Participant’s participation ceases due to the Participant reaching the accrual limit of twenty-five thousand dollars ($25,000) per calendar year under Section 423 of the Code, as provided under Section 11(a)(ii) of the Plan, the Participant shall be required to re-enroll in the Plan in order to purchase Shares under the Plan during any Purchase Period in a subsequent calendar year, subject to the terms and conditions of the Plan.

(b) Subject to the provisions of Section 8(c) below, once enrolled in the Plan, a Participant may only increase or decrease an existing payroll deduction authorization at the times and in accordance with procedures, if any, implemented by the Committee or its designee. A Participant may cancel an existing payroll deduction authorization at any time pursuant to Section 14(a) hereof and thereby terminate participation in the Plan with respect to a Purchase Period.

(c) Notwithstanding the foregoing provisions, in no event shall a Participant be permitted to increase the rate of his payroll deductions under the Plan to an amount which would result in non-compliance with the limitations stated in Sections 11(a)(ii) or (iii) hereof.

(d) All payroll deductions made by a Participant shall be credited to such Participant’s account under the Plan. A Participant may not make any additional payments into such account except as otherwise provided herein.

9. Exercise of Option.

(a) A Participant’s election to purchase Shares shall be exercised automatically on each Purchase Date following a Participant’s election, and the maximum number of whole and/or fractional Shares subject to such Option shall be purchased for such Participant at the applicable Option price with the accumulated payroll deductions in such Participant’s account. If all or any portion of the Shares cannot reasonably be purchased on the Purchase Date in the sole discretion of the Committee because of unavailability or any other reason, such purchase shall be made as soon thereafter as feasible. In no event shall certificates for any fractional Shares be issued under the Plan. Shares shall be credited to the Participant’s account as soon as administratively feasible after the Purchase Date.

(b) If all or any portion of the Shares that would otherwise be subject to Options granted on any Offering Date exceeds the number of Shares then available under the Plan (after deduction of all Shares for which Options have been exercised or are then outstanding) or if all or any portion of the Shares cannot reasonably be purchased on the Purchase Date in the sole discretion of the Committee because of any other reason, the Committee shall make a pro rata allocation of the Shares remaining available for Option grant in as uniform a manner as shall be practicable and as it shall determine to be equitable. In such event, the Committee shall give written notice to each Participant of the reduction in the number of Option Shares affected thereby and shall similarly reduce the rate of each Participant’s payroll deductions, if necessary, and return any remaining payroll deduction balance credited to each Participant, if necessary.

10. Delivery of Common Stock.

All the Shares purchased by a Participant on a Purchase Date shall, for all purposes, be deemed to have been issued and sold as of the close of business on such Purchase Date. Prior to that

time the Participant shall have none of the rights or privileges of a stockholder of the Company with respect to such Shares.

All the Shares purchased pursuant to the Plan shall be delivered by the Company in a manner as determined from time to time, by the Board or its Committee. The Board or its Committee, in its discretion, may determine that the shares shall be delivered by the Company to the Participant by issuing and delivering a certificate for the number of Shares purchased by a Participant on a Purchase Date, or that the Shares purchased by a Participant on a Purchase Date, be delivered to a securities brokerage firm, as selected by the Board or its Committee, and such Shares shall be maintained by the securities brokerage firm in separate Plan accounts for Participants. The Company will not issue fractional Shares, but the securities brokerage firm will maintain fractional interest in such Shares.

Each certificate or investment account, as the case may be, will be in the name of the Participant.

11. Limitations of Number of Shares Which May Be Purchased.

(a) Notwithstanding any provisions of the Plan to the contrary, no individual shall be granted an Option under the Plan:

       
      (i)

      if, immediately after the grant, such individual (or any other person whose stock would be attributed to such individual pursuant to Section 424(d) of the Code) would own stock and/or hold outstanding Options to purchase stock possessing five percent (5%) or more of the total combined voting power or value of all classes of stock of the Company or of any Subsidiary or Parent; or

        
      (ii)

      which permits such individual’s right to purchase stock under all employee stock purchase plans (as described in Section 423 of the Code) of the Company and any Subsidiary or Parent to accrue at a rate which exceeds twenty-five thousand dollars ($25,000) of fair market value of such stock (determined at the time such option is granted) for any calendar year in which such option is outstanding at any time.

12. Stockholder Rights.

The Common Stock purchased upon exercise of an Option hereunder shall be credited to the Participant’s account under the Plan and shall be deemed to be transferred to the Participant on the Purchase Date. Only upon the issuance of Shares to a Participant or his agent (and only in respect to such Shares purchased) shall a Participant obtain the rights of stockholders, including, without limitation, any right to vote the Shares or receive any dividends or any other distributions thereon. The Shares purchased will be issued as soon as practicable after the Purchase Date.

13. Rights to Purchase Shares Not Transferable.

(a) Neither payroll deductions credited to a Participant’s account nor any rights with regard to the exercise of an Option or to receive Shares under the Plan may be sold, pledged, assigned or transferred in any manner otherwise than by will or the laws of descent and distribution. Any such attempt at assignment, transfer, pledge or other disposition shall be without effect, except that the Company may treat such act as a cancellation of a Participant’s election to purchase shares in accordance with Section 14 hereof.

(b) All rights of a Participant granted under this Plan, including but not limited to, the grant of an Option, the right to exercise an Option and the ability to authorize payroll deductions shall relate solely to a Participant, except as otherwise provided in Section 17 hereof.

14. Cancellation of Election to Purchase.

(a) A Participant who has elected to purchase Shares during a Purchase Period may cancel his or her election to purchase Shares with respect to such Purchase Period. Any such cancellation shall apply to all payroll deductions withheld (and any other amounts credited to his or her account) during the Purchase Period. A cancellation shall be effective as soon as administratively feasible after the delivery by the Participant of sufficient prior written notice of cancellation on a form provided by, or acceptable to, the Committee for such purpose to the office or person designated by the Committee to receive such elections. In order to be given effect with respect to a Purchase Period, a notice of cancellation must be so delivered no later than the date set by the Committee.

(b) A Participant’s rights, upon the cancellation of his or her election to purchase Shares, shall be limited to receiving in cash, as soon as practicable after delivery of the notice of cancellation, the cash balance (without interest) then credited to his or her account.

(c) A Participant’s cancellation of his or her election to purchase Shares in an offering shall not have any effect upon such Participant’s eligibility to participate in a subsequent offering or in any similar plan which may hereafter be adopted by the Company.

15. Termination of Continuous Service; Other Involuntary Withdrawal.

If a Participant’s Continuous Service terminates for any reason, or if a Participant ceases to be an Eligible Employee, no payroll deduction shall be taken from any pay due and owing to such Participant beyond the date such Participant’s Continuous Services terminates or such Participant ceases to be an Eligible Employee and the entire payroll deduction amount to the credit of such Participant shall be applied toward the purchase of Shares on the Purchase Date coincident with or next following the date such Participant’s Continuous Services terminates or such Participant ceases to be an Eligible Employee.

16. Dividends and Interest.

(a) Cash dividends, if any, on Shares acquired through the Plan will be automatically paid to the Participant by the Company, or if applicable, the transfer agent. Dividends paid in property other than cash or Common Stock shall be distributed to Participants as soon as practicable.

(b) Except as required by law, no interest shall accrue on or be payable with respect to the payroll deductions of a Participant in the Plan.

17. Application of Funds.

All funds received by the Company in payment for Shares purchased under the Plan and held by the Company at any time may be used for any valid corporate purpose.

18. Amendment and Termination.

The Company, by action of the Board of Directors (or a duly authorized committee) or the Committee may at any time terminate, amend or freeze the Plan. No such termination shall adversely affect Options previously granted and no amendment may make any change in any Option theretofore granted which adversely affects the rights of any Participant. No amendment shall be effective unless approved by the stockholders of the Company if stockholder approval of such amendment is required to comply with Section 423 of the Code or to comply with any other applicable law, regulation or stock exchange rule. Upon termination of the Plan, the Company shall return or distribute the payroll deductions credited to a Participant’s account (that have not been used to purchase Shares) and shall distribute or credit Shares credited to a Participant’s account. Upon the freezing of the Plan, any payroll deductions credited to a Participant’s account (that have not been used to purchase Shares) shall be used to purchase Shares in accordance with Section 9 hereof, substituting the term Purchase Date with the effective date of the freezing of the Plan.

19. Reports.

Individual accounts shall be maintained for each Participant in the Plan. Statements of account shall be given to Participants at such times prescribed by the Committee; such statements may set forth the amounts of payroll deductions, the purchase price per Share, the number of Shares purchased, the aggregate Shares in the Participant’s account and the remaining cash balance, if any, or any other information as designated by the Committee.

20. Effective Date; Governmental Approvals or Consents.

The Plan was adopted by the Board of Directors of the Company on February 1, 2023, approved by the Company’s stockholders on April 27, 2023, and made effective as of the Effective Date, was amended and restated effective April 30, 2024 and November 22, 2024, and is herein amended and restated effective April 4, 2026. The Plan and any offerings and sales to Eligible Employees under it are subject to any governmental approvals or consents that may be or become applicable in connection therewith. The Board of Directors or the Committee may make such changes in the Plan and include such terms in any offering under the Plan as may be necessary or desirable, in the opinion of counsel, so that the Plan will comply with the rules and regulations of any governmental authority and so that Eligible Employees participating in the Plan will be eligible for tax benefits under the Code or the laws of any state.

21. Notices.

All notices or other communications by a Participant to the Company or the Committee under or in connection with the Plan shall be deemed to have been duly given when received in the form specified by the Company or Committee at the location, or by the person, designated for the receipt thereof and within the time period prescribed by the Company or Committee. Each Participant shall be responsible for furnishing the Committee with the current and proper address for the mailing of notices and the delivery of other information. Any notices or communications by the Company to a Participant shall be deemed given if directed to such address and mailed by regular United States mail, first-class and prepaid. If any item mailed to such address is returned as undeliverable to the addressee, mailing shall be suspended until the Participant furnishes the proper address.

22. Regulations and Other Approvals; Governing Law.

(a) This Plan and the rights of all persons claiming hereunder shall be construed and determined in accordance with the laws of the State of Delaware without giving effect to the choice of law principles thereof, except to the extent that such law is preempted by federal law.

(b) The obligation of the Company to sell or deliver Shares with respect to Options granted under the Plan shall be subject to all applicable laws, rules and regulations, including all applicable federal and state securities laws, and the obtaining of all such approvals by governmental agencies as may be deemed necessary or appropriate by the Committee. The Company shall not be obligated to issue any Shares to a Participant if, in the opinion of counsel for the Company, the issuance of such Shares will constitute a violation by the Participant or the Company of any provisions of any rule or regulation of any governmental authority or any national securities exchange.

(c) To the extent required, the Plan is intended to comply with exemptive conditions under Rule 16b-3 and the Committee shall interpret and administer the provisions of the Plan in a manner consistent therewith. Any provisions inconsistent with Rule 16b-3 shall be inoperative and shall not affect the validity of the Plan.

(d) The Plan is not subject to any of the requirements of the Employee Retirement Income Security Act of 1974, as amended, nor is it intended to be qualified under Section 401(a) of the Code.

23. Withholding of Taxes.

(a) If the Participant makes a disposition, within the meaning of Section 424(c) of the Code and regulations promulgated thereunder, of any Share or Shares issued to such Participant pursuant to

such Participant’s exercise of an Option, and such disposition occurs within the two-year period commencing on the day after the Offering Date or within the one-year period commencing on the day after the Purchase Date, such Participant shall immediately, or as soon as practicable thereafter, notify the Company thereof and, if applicable, thereafter immediately deliver to the Company any amount of federal, state or local income taxes and other amounts which the Company informs the Participant the Company is required to withhold.

(b) Notwithstanding anything herein to the contrary, the Employer shall have the right to make such provisions as it deems necessary to satisfy any obligations to withhold federal, state, or local income taxes or other taxes incurred by reason of the issuance of Common Stock pursuant to the Plan. Notwithstanding anything herein to the contrary, if applicable, the Employer may require a Participant to remit an amount equal to the required withholding amount and may invalidate any election if the Participant does not remit applicable withholding taxes. Without limiting the generality of the foregoing, solely to the extent permitted by law, any withholding obligation with regard to any Participant may be satisfied by: (i) reducing the number of shares of Common Stock otherwise deliverable to the Participant; (ii) subject to the Committee’s prior consent, any method approved by the Committee; or (iii) by the Participant paying cash directly to the Company.

24. Restrictions.

All certificates for Shares delivered under the Plan shall be subject to such stock transfer orders and other restrictions as the Committee may deem advisable to assist in the compliance with any applicable tax withholding laws or under the rules, regulations and other requirements of the Securities and Exchange Commission, any stock exchange upon which the Common Stock is then listed or any national securities association system upon whose system the Common Stock is then quoted, any applicable federal or state securities law, and any applicable corporate law and the Committee may cause a legend or legends to be put on any such certificates to make appropriate reference to such restrictions.

25. No Employment Rights.

The establishment and operation of this Plan shall not confer any legal rights upon any Participant or other person for a continuation of employment, nor shall it interfere with the rights of an Employer to discharge any employee and to treat him or her without regard to the effect which that treatment might have upon him or her as a Participant or potential Participant under the Plan.

26. Severability of Provisions.

If any provision of the Plan shall be held invalid or unenforceable, such invalidity or unenforceability shall not affect any other provisions hereof, and the Plan shall be construed and enforced as if such provisions had not been included.

27. Construction.

The use of a masculine pronoun shall include the feminine, and the singular form shall include the plural form, unless the context clearly indicates otherwise. The headings and captions herein are provided for reference and convenience only, shall not be considered part of the Plan, and shall not be employed in the construction of the Plan.

28. Electronic Elections, Purchases, and Transactions.

Any election, purchase or other transaction hereunder that is required to be made in writing may, to the extent determined by the Committee, be made, delivered and accepted electronically.

EXHIBIT A

Designated Subsidiaries


1.	Church & Dwight Manufacturing Co., Inc.

Exhibit 10.2

AMENDED AND RESTATED CHANGE IN CONTROL AND SEVERANCE AGREEMENT

THIS AMENDED AND RESTATED CHANGE IN CONTROL AND SEVERANCE AGREEMENT, dated as of February 5 2026 (this “Agreement”), is made by and between Church & Dwight Co., Inc, a Delaware corporation (the “Company”), and Richard A. Dierker (the “Executive”).

WHEREAS, the Company considers it essential to the best interests of its stockholders to foster the continued employment of key executive management personnel; and

WHEREAS, the Board (as defined in Section 1.3 below) recognizes that the possibility of a Change in Control (as defined in Section 1.5 below) of the Company exists from time to time and that such possibility, and the uncertainty, instability and questions that it may raise for and among key executive management personnel, may result in the premature departure or significant distraction of such management personnel to the material detriment of the Company and its shareholders; and

WHEREAS, the Board has determined that protection of the Executive’s earned benefits, compensation and severance payments are the most efficient means to eliminate any such conflict in regards to the Executive; and

WHEREAS, the Company and the Executive have previously entered into a Change in Control and Severance Agreement and wish to amend and restate that agreement in its entirety; and

NOW THEREFORE, in consideration of the premises and the mutual covenants herein contained, the Company and the Executive intending to be legally bound, hereby agree as follows:

Definitions. For purposes of this Agreement, the following terms shall have the meanings set forth below:

1.1.

“Affiliate” shall mean, other than the Company, (i) any corporation in an unbroken chain of corporations beginning with the Company, which owns stock possessing fifty percent (50%) or more of the total combined voting power of all classes of stock in one of the other corporations in such chain; (ii) any corporation, trade or business (including, without limitation, a partnership or limited liability company) which is controlled fifty percent (50%) or more (whether by ownership of stock, assets or an equivalent ownership interest or voting interest) by the Company or one of its Affiliates; or (iii) any other entity, approved by the Board as an Affiliate, in which the Company or any of its Affiliates has a material equity interest.

1.2.

“Annual Base Salary” shall mean the Executive’s rate of regular base annual compensation prior to any reduction under (i) a salary reduction agreement pursuant to Section 401(k) or Section 125 of the Code or (ii) any other plan or arrangement deferring any base salary, and shall not include (without limitation) cost of living allowances, fees, retainers, reimbursements, bonuses, incentive awards, prizes or similar payments.

1.3.

“Board” shall mean the Board of Directors of the Company.

1.4.

“Cause” shall mean Executive’s dishonesty, fraud, willful misconduct or refusal to follow or comply with the lawful direction of the Company (for any reason other than illness or incapacity and provided such refusal is not based on Executive’s good faith compliance with applicable legal or ethical standards), as determined by the Board in its sole discretion.

1.5.

“Change in Control” shall be deemed to have occurred if:

1.5.1.

any Person becomes the beneficial owner (as defined in Rule 13(d)-3 under the Exchange Act) of shares of Common Stock representing more than fifty percent (50%) of the total number of votes that may be cast for the election of directors of the Company;

1.5.2.

the stockholders of the Company shall consummate any merger or other business combination of the Company, sale of all or substantially all of the Company’s assets or combination of the foregoing transactions (a “Transaction”), other than a Transaction involving only the Company and one or more of its

Subsidiaries, or a Transaction immediately following which the stockholders of the Company immediately prior to the Transaction continue to have a majority of the voting power in the resulting entity; or

1.5.3.

within any twenty-four (24) month period beginning on or after the date hereof, the persons who were directors of the Company immediately before the beginning of such period (the “Incumbent Directors”) shall cease (for any reason other than death) to constitute at least a majority of the Board (or the board of directors of any successor to the Company); provided that, any director who was not a director as of the date hereof shall be deemed to be an Incumbent Director if such director was elected to the Board by, or on the recommendation of or with the approval of, at least two-thirds of the directors who then qualified as Incumbent Directors either actually or by prior operation of the foregoing unless such election, recommendation or approval was the result of an actual or threatened election contest of the type contemplated by Rule 14a-11 promulgated under the Exchange Act or any successor provision.

1.6.

“Code” shall mean Internal Revenue Code of 1986, as amended.

1.7.

“Common Stock” shall mean the common stock of the Company, par value $1.00.

1.8.

“Exchange Act” shall mean the Securities Exchange Act of 1934, as amended.

1.9.

“Good Reason” shall mean and shall be deemed to exist if, without the prior express written consent of the Executive, (i) the Executive suffers a material demotion in his title or position as it existed on the date of this Agreement; (ii) the Executive suffers a material reduction in his duties, responsibilities or effective authority associated with his titles and positions; (iii) the Executive’s target annual cash compensation (Annual Base Salary plus target bonus percentage) or aggregate benefits are materially decreased by the Company; (iv) the Company fails to obtain assumption of this Agreement by an acquiror; or (v) the Executive’s primary office location is moved to a location more than fifty (50) miles from its location as of the date hereof. In order for the Executive to terminate employment for Good Reason, the Executive must provide written notice to the Company (or any successor thereto) in accordance with Section 7.3 below. The Executive’s continued employment shall not constitute consent to, or a waiver of rights with respect to, any act or failure to act constituting Good Reason hereunder.

1.10.

“Person” shall have the meaning ascribed thereto in Section 3(a)(9) of the Exchange Act, as modified, applied and used in Sections 13(d) and 14(d) thereof; provided, however, a Person shall not include (i) the Company or any Subsidiaries, (ii) a trustee or other fiduciary holding securities under an employee benefit plan of the Company or any of its subsidiaries (in its capacity as such), (iii) an underwriter temporarily holding securities pursuant to an offering of such securities, or (iv) a corporation owned, directly or indirectly, by the stockholders of the Company in substantially the same character and proportions as their ownership of stock of the Company.

1.11.

“Subsidiary” shall mean any subsidiary corporation of the Company within the meaning of Section 424(f) of the Code.

Severance Payments.

2.1.

Change in Control Severance. Upon the termination of the Executive’s employment by the Company without Cause or by the Executive for Good Reason during the two-year period following a Change in Control (a “CIC Termination”), the Executive shall be entitled to the payments and benefits set forth in this Section 2.1 and in Section 2.3. In addition, a CIC Termination shall result if the Executive’s employment is terminated prior to the occurrence of a Change in Control (and such Change in Control actually occurs), and (a) the Executive reasonably demonstrates that the Executive’s employment was terminated without Cause (1) prior to such Change in Control at the request of a Person who has entered into an agreement with the Company the consummation of which will constitute a Change in Control (or who has taken other steps reasonably calculated to effect a Change in Control) or (2) otherwise in connection with or in anticipation of a Change in Control, or (b) the Executive terminates his employment for Good Reason prior to a Change in Control and the Executive reasonably demonstrates that the circumstance(s) or event(s) which constitute such Good Reason occurred (1) at the request of such Person or (2) otherwise in connection with or in anticipation of a Change in Control.

2.1.1.

A payment equal to three (3) times the sum of (a) the Executive’s Annual Base Salary and (b) the Executive’s target bonus amount for the year in which any such termination occurs. The payment shall be made in a single lump sum on the first business day following the expiration of the six-month period following the Executive’s CIC Termination.

2.1.2.

A lump sum payment equal to the Executive’s target bonus payment under the Company’s management incentive plan times a fraction, the numerator of which is the number of days that have elapsed in the year of the Executive’s CIC Termination as of the date of termination and the denominator of which is 365. Such payment shall be made on the first business day following the expiration of the six-month period following the Executive’s CIC Termination.

2.1.3.

Notwithstanding Section 2.1.1 above, the severance payment described in Section 2.1.1 shall be paid in a lump sum payment only if (i) the Change in Control constitutes a “change in control event” under Section 409A of the Code (a “409A Change in Control”) and (ii) the Executive’s CIC Termination occurs on or after such 409A Change in Control occurs. If the Change in Control does not constitute a 409A Change in Control, or if the Executive’s CIC Termination occurs prior to the date of the Change in Control, then the severance payment described in Section 2.1.1 shall be paid in the manner described in Section 2.2.1, as if his termination were a Non-CIC Termination (but in the amount set forth in Section 2.1.1).

2.2.

Non-Change in Control Severance. Upon the termination of the Executive’s employment by the Company without Cause or by the Executive for Good Reason at any time other than those prescribed in Section 2.1 (a “Non-CIC Termination”), the Executive shall be entitled to the payments and benefits set forth in this Section 2.2 and in Section 2.3.

2.2.1.

An amount equal to two (2) times the Executive’s Annual Base Salary. Fifty percent (50%) of this amount shall be paid on the first business day following the expiration of the six-month period following the Executive’s Non-CIC Termination, and the remaining fifty percent (50%) shall be paid in six (6) substantially equal monthly installments thereafter.

2.2.2.

A lump sum payment equal to the bonus amount that would have been payable to the Executive for the year in which any such Non-CIC Termination occurs, based on actual performance, if he had remained employed through the end of the year, as determined under the terms of the Company’s management incentive plan, times a fraction, the numerator of which is the number of days that have elapsed in the year of the Executive’s Non-CIC Termination as of the date of termination and the denominator of which is 365. Such payment shall be made on the later of (i) the regularly scheduled payment date for bonus payments under the Company’s management incentive plan for the year in which the Non-CIC Termination occurs (for the avoidance of doubt, such payment date shall be deemed to be January 31 of the year following the year of termination for purposes of Section 409A of the Code) or (ii) the first business day following the expiration of the six-month period following the Executive’s Non-CIC Termination.

2.3.

Additional Severance. In addition to the payments provided for in Section 2.1 and 2.2, upon a CIC Termination or Non-CIC Termination, the following additional provisions shall apply:

2.3.1.

Group Medical Coverage. Following the Executive’s CIC Termination or Non-CIC Termination, as applicable, the Executive may elect to continue, under the terms prevailing from time to time, group medical and dental coverage for himself and his covered dependents (the “Welfare Benefits”) in accordance with the requirements of the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”). If the Executive elects such coverage, Executive’s share of any group medical and dental premiums for the thirty-six (36) month period after the Executive’s CIC Termination (or, if applicable, the twenty-four (24) month period after the Executive’s Non-CIC Termination) (as applicable, the “Welfare Benefit Continuation Period”) will be at the then-prevailing active employee rate, and the Company shall waive its right to collect the difference between the Executive’s COBRA premium and the then-prevailing active employee rate during such period. The Executive’s failure to pay his required share of the COBRA premium will result in loss of the coverage. The Executive agrees and understands that his rights under Code Section 4980B, which sets forth certain COBRA continuation coverage requirements, will run concurrently with the period of coverage under this Section 2.3.1. Welfare Benefits otherwise receivable by the Executive pursuant to this Section 2.3.1 shall be reduced to the extent the Executive obtains

comparable coverage under another employer’s plan during the Welfare Benefit Continuation Period. The Executive agrees to immediately report such other coverages to the Company. Notwithstanding anything herein to the contrary, if the Executive ceases to be eligible for COBRA continuation coverage during the Welfare Benefit Continuation Period (other than due to a failure to pay premiums) or if the Executive’s receipt of the Welfare Benefits would result in the imposition of an excise tax on the Company pursuant to Section 4980D of the Code or the violation of any applicable law, then, in lieu of providing such Welfare Benefits under the Company’s Welfare Benefit plans to the Executive, the Company shall instead pay to the Executive during the Welfare Benefit Continuation Period a monthly payment equal to the amount the Company would have paid had the Executive continued participation in the Company’s Welfare Benefit plans.

2.3.2.

Group Life Insurance Coverage. The Company shall pay to the Executive a monthly cash payment during the Welfare Benefit Continuation Period equal to the monthly premium amount (as determined herein) applicable for the Executive to continue to receive the same basic level of life insurance coverage in effect for Executive under the Company’s group life insurance plans at the time of Executive’s employment termination. The amount of such monthly premium shall be communicated by the applicable insurance carrier to the Company within thirty (30) days following the Executive’s employment termination, provided that if no such amount is communicated, the amount of such monthly premium shall be equal to the applicable monthly premium amount in effect for such coverage under the Company’s group life insurance plans at the time of Executive’s employment termination. The Executive will be entitled to the life insurance conversion rights required by applicable law at the end of such period.

2.3.3.

Outplacement. The Executive shall be entitled to the outplacement assistance set forth in the Company’s executive-level corporate outplacement program.

2.3.4.

Vacation. The Executive will receive payment for any granted and unused vacation upon termination in accordance with the Company’s policy and applicable law.

2.3.5.

Other Benefits. Any supplemental, spouse or child life insurance, accidental death and dismemberment and disability insurance will terminate on the Executive’s date of termination in accordance with the terms of the applicable welfare benefit plan. Qualified retirement plan and savings plan benefits will be subject to the terms of the applicable plan.

2.3.6.

Equity Compensation; Nonqualified Deferred Compensation. All awards of equity compensation and any non-qualified deferred compensation earned by the Executive shall be subject to the provisions of the applicable equity compensation plan, equity award agreement and/or the applicable non-qualified deferred compensation plan.

2.3.7.

Obligation to Pay. Notwithstanding anything herein to the contrary, the Company’s obligations to make the payments provided for in Sections 2.1, 2.2, 2.3.1, 2.3.2 and 2.3.3 shall be conditioned upon: (i) the Executive’s continued compliance with Executive’s obligations under Section 5 hereof, and (ii) the Executive’s execution, delivery and non-revocation of a valid and enforceable release of claims arising in connection with the Executive’s employment and termination of employment with the Company substantially in the form attached hereto as Exhibit A (the “Release”) that becomes effective not later than 55 days after the date of such termination of employment. Subject to the foregoing, the payments provided for in Sections 2.3.1, 2.3.2 and 2.3.3 will commence to be paid to the Executive on the 60th day following the Executive’s termination of employment, and such first payment shall include payment of any amounts that would otherwise be due prior thereto.

2.4.

Directorships. Upon termination of the Executive’s employment with the Company, the Executive will immediately resign as of the date of such termination from any and all directorships the Executive then holds in the Company and its subsidiaries and affiliates, unless otherwise requested by the Board.

Excise Tax.

3.1.

Anything in this Agreement to the contrary notwithstanding, if it shall be determined that any payment, distribution or benefit provided (including, without limitation, the acceleration of any payment,

distribution or benefit and the acceleration of vesting of any equity-based or other compensation) to the Executive or for his benefit (whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise) would be subject, in whole or in part, to the excise tax imposed by Section 4999 of the Code (the “Excise Tax”), then the amounts payable to the Executive under this Agreement shall be reduced (by the minimum possible amount) until no amount payable to the Executive is subject to the Excise Tax; provided, however, that no such reduction shall be made if the net after-tax benefit (after taking into account federal, state, local or other income, employment, self-employment and excise taxes) to which the Executive would otherwise be entitled without such reduction would be greater than the net after-tax benefit (after taking into account federal, state, local or other income, employment, self-employment and excise taxes) to the Executive resulting from the receipt of such payments with such reduction. If, as a result of subsequent events or conditions, it is determined that payments have been reduced by more than the minimum amount required under this Section 3, then an additional payment shall be made to the Executive in an amount equal to the excess reduction within sixty (60) days of the date on which the amount of the excess reduction is determined, but not later than December 31 of the year in which the excess reduction is determined.

3.2.

All determinations required to be made under this Section 3, including whether a payment would result in an Excise Tax, shall be made by a nationally recognized accounting firm selected by the Company (the “Accounting Firm”) which shall provide detailed supporting calculations both to the Company and the Executive as requested by the Company or the Executive. All fees and expenses of the Accounting Firm shall be borne solely by the Company and shall be paid by the Company. Except as set forth in the last sentence of Section 3.1 hereof, all determinations made by the Accounting Firm under this Section 3 shall be final and binding upon the Company and the Executive.

Section 409A.

4.1.

This Agreement is intended to comply with the requirements of Section 409A of the Code and shall in all respects be administered and interpreted in accordance with Section 409A of the Code. If any payment or benefit cannot be provided or made at the time specified herein without incurring sanctions on the Executive under Section 409A of the Code, then such benefit or payment shall be provided in full at the earliest time thereafter when such sanctions will not be imposed. Notwithstanding anything in the Agreement to the contrary, distributions may only be made under the Agreement upon an event and in a manner permitted by Section 409A of the Code or an applicable exception. All payments to be made upon a termination of employment under this Agreement may only be made upon a “separation from service” under Section 409A of the Code. For purposes of Section 409A of the Code, the right to a series of installment payments under this Agreement shall be treated as a right to a series of separate payments, and each payment under this Agreement shall be treated as a separate payment. In no event may the Executive, directly or indirectly, designate the calendar year of any payment to be made under this Agreement.

4.2.

Notwithstanding the foregoing, if required by Section 409A of the Code, if any amounts payable upon separation from service are considered “deferred compensation” under Section 409A of the Code, payment of such amounts will be postponed as required by Section 409A of the Code, and the postponed amounts will be paid six (6) months following the effective date of termination from employment. If the Executive dies during the postponement period, any amounts postponed on account of Section 409A of the Code, with accrued interest as described below, shall be paid to the personal representative of the Executive’s estate within sixty (60) days after the date of the Executive’s death.

4.3.

All reimbursements and in-kind benefits provided under this Agreement shall be made or provided in accordance with the requirements of Section 409A of the Code, including, where applicable, the requirement that (i) any reimbursement shall be for expenses incurred during the Executive’s lifetime (or during a shorter period of time specified in this Agreement), (ii) the amount of expenses eligible for reimbursement, or in-kind benefits provided, during a calendar year may not affect the expenses eligible for reimbursement, or in-kind benefits to be provided, in any other calendar year, (iii) the reimbursement of an eligible expense will be made on or before the last day of the calendar year following the year in which the expense is incurred, and (iv) the right to reimbursement or in-kind benefits is not subject to liquidation or exchange for another benefit.

Restrictive Covenants.

5.1.

Non-Competition. During the Executive’s employment and if the Executive’s employment with the Company terminates for a period of three (3) years following a CIC Termination and for a period of two (2) years following a Voluntary Termination (as defined below), the Executive shall not, directly or indirectly, within or with respect to the United States of America engage, in any business or activity or render any services or provide any advice to any Competing Entity (as defined below), without the prior written consent of the Company (which consent shall not be unreasonably withheld or delayed), whether as an employee, consultant, partner, principal, agent, representative, stockholder, director or in any other capacity, if on the effective date of termination of the Executive’s employment with the Company, such Competing Entity develops, manufactures, sells or distributes any product or products that (a) compete with any product or products sold by the Company or any Affiliate thereof (or to the Executive’s knowledge are planned for sale or distribution by the Company or its Affiliates within six (6) months following the effective date of Executive’s termination of employment with the Company) for which the Executive had primary responsibility for any aspect of such product(s) or where the Executive would perform substantially similar employment functions to those performed at the Company, and (b) represent, individually or in the aggregate, twenty percent (20%) or more of such Competing Entity’s annual gross revenues; provided, however, that the Executive’s ownership of not more than two percent (2%) of the stock of any publicly-traded corporation shall not be a violation of this Section 5.1. As used herein, “Competing Entity” means any business, person or entity, and any Affiliates thereof, which develops, manufactures, sells and/or distributes products that are competitive with any products developed, manufactured, sold and/or distributed by the Company and any of its Affiliates, and “Voluntary Termination” means the Executive’s termination of his employment with the Company for any reason other than for Good Reason, death or disability (as defined under the Company’s Long Term Disability or other applicable plan, program or policy). The Executive acknowledges and agrees that his skills are such that he can be gainfully employed in noncompetitive employment and that the agreement not to compete will in no way prevent him from earning a living. The Executive understands and agrees that the rights and obligations set forth in this Section 5.1 shall survive the termination of this Agreement.

5.2.

Non-Solicitation. If the Executive’s employment with the Company terminates due to a CIC Termination, a Non-CIC Termination, or a Voluntary Termination, for a period of three (3) years following a CIC Termination and two (2) years following a Non-CIC Termination or a Voluntary Termination, the Executive shall not (except on the Company’s behalf), directly or indirectly, on his own behalf or on behalf of any other person, firm, partnership, corporation or other entity, (A) solicit or service the business of any of the Company’s clients, any of the Company’s former clients which were clients within twelve (12) months prior to the termination of his employment or any of the prospective clients which were being actively solicited by the Company at the time of the termination of his employment or (B) attempt to cause or induce any employee of the Company to leave the Company.

5.3.

Non-Disparagement. The Executive agrees to refrain from making any statements or comments of a defamatory or disparaging nature to any third party regarding the Company or any of its officers, directors, employees, agents, representatives, affiliates, products or services.

5.4.

Company Property; Confidentiality. Upon the Executive’s termination of employment for any reason, the Executive shall return to the Company all documents, manuals, computers, computer programs, diskettes, customer lists, notebooks, reports and other written or graphic materials, including all copies thereof, relating in any way to the Company’s business and prepared by the Executive or obtained by the Executive from the Company, its Affiliates, customers or its suppliers during the course of the Executive’s employment with the Company. The Executive agrees to comply with the Company’s confidentiality and non-disclosure policies and agreements with the Company.

5.5.

Acknowledgements. The Executive acknowledges and agrees that the restrictions set forth in this Section 5: (a) are critical and necessary to protect the Company’s legitimate business interests (including, without limitation, the protection of its confidential or proprietary information, its goodwill, and its relationship with its customers, clients, employees, and consultants); (b) are reasonably drawn to this end with respect to duration, scope and otherwise; (c) are not unduly burdensome or injurious to the public interest; and (d) are supported by adequate consideration.

5.6.

Injunctive Relief. The Executive acknowledges and agrees that the Company will have no adequate remedy at law, and would be irreparably harmed, if the Executive breaches or threatens to breach any of the provisions of Section 5.1, 5.2, 5.3 or 5.4. The Executive agrees that the Company shall be entitled to equitable and/or injunctive relief to prevent any breach or threatened breach of such Sections, and to specific performance of each of the terms of such Section in addition to any other legal or equitable remedies that the Company may have. The Executive further agrees that the Executive shall not, in any equity proceeding relating to the enforcement of the terms of such Sections, raise the defense that the Company has an adequate remedy at law. The Executive acknowledges and agrees that the restricted periods set forth above in Sections 5.1 and 5.2 shall be tolled during any period in which the Executive is in violation of such Section(s) so that the Company is provided with the full benefit of the restricted period.

5.7.

Special Severability. The terms and provisions of this Section 5 are intended to be separate and divisible provisions and if, for any reason, any one or more of them is held to be invalid or unenforceable, neither the validity nor the enforceability of any other provision of this Agreement shall thereby be affected. It is the intention of the parties to this Agreement that the potential restrictions on the Executive’s future employment imposed by this Section 5 be reasonable in both duration and geographic scope and in all other respects. If for any reason any court of competent jurisdiction shall find any provisions of this Section 5 unreasonable in duration or geographic scope or otherwise, the Executive and the Company agree that the restrictions and prohibitions contained herein shall be effective to the fullest extent allowed under applicable law in such jurisdiction.

Entire Agreement; Complete Obligation. Except as otherwise specified in the last sentence of this Section 6, this Agreement contains the entire understanding of the parties with respect to the subject matter herein. There are no restrictions, agreements, promises, warranties, covenants or undertakings between the parties with respect to the subject matter herein other than those expressly set forth herein. This Agreement may not be altered, modified, or amended except by written instrument signed by the parties hereto. Following the Executive’s CIC Termination or Non-CIC Termination, the Executive shall only be entitled to the payments and benefits provided in this Agreement and he shall not be entitled to any other payments or benefits except those required by applicable law or the terms of any employee benefit plan. With respect to a CIC Termination, Non-CIC Termination or Voluntary Termination (but only with respect to Section 5 in the case of a Voluntary Termination), this Agreement supersedes and replaces only the corresponding severance, non-competition and/or termination provisions contained in any employment contract or other agreement that the Executive has entered into with the Company prior to the date hereof and all remaining provisions of any such agreement shall remain in full force and effect.

Notice of Termination.

7.1.

Any purported CIC Termination or Non-CIC Termination shall be communicated by written “Notice of Termination” from one party hereto to the other party hereto in accordance with Section 9.4 hereof. For purposes of this Agreement, a “Notice of Termination” shall mean a notice which shall indicate the specific termination provision in this Agreement relied upon and shall set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Executive’s employment with the Company under the provision so indicated. For purposes of this Agreement, any purported termination not effected in accordance with this Section 7 shall not be considered effective.

7.2.

A Notice of Termination for Cause is required to include a copy of a resolution duly adopted by the affirmative vote of a simple majority of the entire membership of the Board at a meeting of the Board, which was called and held for the purpose of considering such termination (which meeting may be a regular meeting of the Board where prior notice of consideration of such termination is given to members of the Board) finding that, in the good faith opinion of the Board, that the Executive engaged in conduct set forth in the definition of Cause herein and specifying the particulars thereof in detail.

7.3.

A Notice of Termination by the Executive for “Good Reason” is required to set forth the provision of this Agreement that the Executive believes constitutes “Good Reason” and specify the particulars thereof in detail within ninety (90) days of the initial occurrence of such event. The Company (or any successor thereto) shall have thirty (30) days after the receipt of a Notice of Termination to remedy the circumstances that allegedly give rise to “Good Reason.” If the Company (or any successor thereto) remedies the circumstances that have given rise to “Good Reason,” within the thirty (30) day cure period, the Executive’s Notice of Termination shall not be effective

and shall be null and void from its inception. However, if the Company (or any successor thereto) does not remedy such event within such thirty (30) day cure period, the Executive’s employment must terminate within sixty (60) days after the end of the thirty (30) day cure period in order for the termination to be on account of “Good Reason.”

Successors; Binding Agreement.

8.1.

Successors. This Agreement shall inure to the benefit of and be binding upon the Company and its respective successors and assigns. The Company shall require any successor to all or substantially all of its business and/or assets, whether direct or indirect, by purchase, merger, consolidation, acquisition of stock, or otherwise, by an agreement in form and substance satisfactory to the Executive, expressly to assume and agree to perform this Agreement in the same manner and to the same extent as the Company would be required to perform if no such succession had taken place.

8.2.

Binding Agreement. This Agreement is personal to the Executive and, without the prior express written consent of the Company, shall not be assignable by the Executive. If the Executive shall die while any amount would still be payable to the Executive hereunder (other than amounts which, by their terms, terminate upon the death of the Executive) if the Executive had continued to live, all such amounts, unless otherwise provided herein, shall be paid in accordance with the terms of this Agreement to the beneficiary (or beneficiaries) designated by the Executive from time to time in accordance with the procedures for notice set out in Section 9.4; provided, however, that if there shall be no effective designation of beneficiary by the Executive, such amounts shall be paid to the executors, personal representatives or administrators of the Executive’s estate. This Agreement shall inure to the benefit of and be enforceable by the Executive’s personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees.

Miscellaneous.

9.1.

Applicable Law. This Agreement shall be governed by and construed in accordance with the laws of the State of New Jersey, applied without reference to principles of conflict of laws. Both the Executive and the Company agree to appear before and submit exclusively to the jurisdiction of the state and federal courts located nearest to Princeton, New Jersey with respect to any controversy, dispute, or claim arising out of or relating to this Agreement. The Executive agrees to be served by the Company with judicial process via registered or certified mail.

9.2.

Amendments. This Agreement may not be amended or modified otherwise than by a written agreement executed by the parties hereto or their respective successors and legal representatives.

9.3.

Mutual Intent. Both parties participated in the drafting of the Agreement, and the language used in this Agreement is the language chosen by the Executive and the Company to express their mutual intent. Both the Executive and the Company agree that in the event that any language, section, clause, phrase or word used in the Agreement is determined to be ambiguous, no presumption shall arise against or in favor of either party and that no rule of strict construction shall be applied against either party with respect to such ambiguity.

9.4.

Notices. All notices and other communications hereunder shall be in writing and shall be given by hand-delivery to the other parties or by registered or certified mail, return receipt requested, postage prepaid, addressed as follows:

      To the Executive: 

      Richard A. Dierker 
at the address on file with the Company

       
To the Company: 

René Hemsey
Executive Vice President, Chief Human Resources Officer
Church & Dwight Co., Inc.
500 Charles Ewing Blvd.
Ewing, NJ 08628

or to such other address as any party shall have furnished to the others in writing in accordance herewith. Notices and communications shall be effective when actually received by the addressee.

9.5.

Withholding. The Company may withhold from any amounts payable under this Agreement such federal, state or local income taxes to the extent the same required to be withheld pursuant to any applicable law or regulation.

9.6.

Severability. The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement.

9.7.

Captions. The captions of this Agreement are not part of the provisions hereof and shall have no force or effect.

9.8.

Counterparts. This Agreement may be executed in one or more counterparts each of which shall be deemed an original instrument, but all of which together shall constitute but one and the same Agreement.

9.9.

Beneficiaries/References. The beneficiary or beneficiaries designated by the Executive to receive any compensation or benefit payable hereunder following the Executive’s death shall be those set forth from time to time by the Executive on the beneficiary designation form for the Company’s Deferred Compensation Plan. In the event of the Executive’s death or a judicial determination of his incompetence, reference in this Agreement to the Executive shall be deemed, where appropriate, to refer to his beneficiary(ies), estate or other legal representative(s).

9.10.

Survivorship. The respective rights and obligations of the parties hereunder shall survive any termination of this Agreement or the Executive’s termination of employment for any reason to the extent necessary to the intended provision of such rights and the intended performance of such obligations.

[Remainder of page intentionally left blank]

IN WITNESS WHEREOF, the Executive has hereunto set the Executive’s hand and the Company has caused this Agreement to be executed in its name on its behalf, all as of the day and year first above written.

CHURCH & DWIGHT CO., INC.

By:
Name:
Title:

EXECUTIVE

Richard A. Dierker

EXHIBIT A

RELEASE AND WAIVER

In consideration of the payments and benefits provided for under the Amended and Restated Change in Control and Severance Agreement, which Executive acknowledges are payments and benefits to which Executive is not otherwise entitled, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Executive hereby agrees as follows:

Executive hereby agrees on behalf of himself, Executive’s agents, assignees, attorneys, spouse, successors, assigns, heirs and executors, to fully and completely forever release the Company, its Board of Directors, all the Company benefit plans, all the Company benefit committees, and all of its and their respective predecessors and successors, past and/or present officers, directors, partners, members, managing members, managers, employees, agents, representatives, administrators, attorneys, insurers, and fiduciaries in their individual and/or representative capacities (hereinafter collectively referred to as the “Company Releasees”), from any and all causes of action, suits, agreements, promises, damages, disputes, controversies, contentions, differences, judgments, claims, debts, dues, sums of money, accounts, reckonings, bonds, bills, specialties, covenants, contracts, variances, trespasses, extents, executions and demands of any kind whatsoever, which Executive or Executive’s heirs, executors, administrators, successors and/or assigns ever had, now have or may claim to have against the Company Releasees or any of them, in law, admiralty or equity, whether known or unknown to Executive, for, upon, or by reason of, any matter, action, omission, course or thing whatsoever, whenever arising from the beginning of time up until the date of Executive’s signature on this Release (such released claims are collectively referred to herein as the “Released Claims”).

Notwithstanding the generality of Section 1 above, the Released Claims include, without limitation, and only by way of example: (i) any and all claims arising from or relating to Executive’s employment with any of the Company Releasees, or the termination thereof; (ii) any and all claims under Title VII of the Civil Rights Act of 1964, the Age Discrimination in Employment Act of 1967 (“ADEA”), the Civil Rights Act of 1971, the Civil Rights Act of 1991, the Fair Labor Standards Act, the Employee Retirement Income Security Act of 1974, the Americans with Disabilities Act, the Family and Medical Leave Act of 1993, the New Jersey Law Against Discrimination, N.J. Stat. § 10:5-1 et seq. (“NJLAD”), the Conscientious Employee Protection Act, N.J. Stat. Ann. § 34:19-1 et seq. (“CEPA”), and any and all other federal, state or local laws, statutes, rules and regulations pertaining to employment or otherwise (as each such Act or law may have been amended); (iii) any claims for wrongful discharge, breach of contract, fraud, misrepresentation or any compensation claims, and (iv) any other claims under any statute, rule or regulation or under the common law, including compensatory damages, punitive damages, attorney’s fees, costs, expenses and all claims for any other type of damage or relief.

Executive agrees that he will not institute (either individually, with others, or as part of a class), join, or otherwise accept any relief in connection with any lawsuit, in any forum, pleading, raising or asserting any Released Claims against any of the Company Releasees. If Executive breaches this promise, then Executive will reimburse each of the Company Releasees that Executive sues for its reasonable attorneys’ fees and costs incurred in defending against such Released Claims. The reimbursement provision governing attorneys’ fees and costs set forth in the immediately preceding sentence shall not apply to any claims brought under the ADEA challenging the validity of the above Release. Executive acknowledges, however, that the above Release applies to all claims he may have under the ADEA, and that, unless the Release is held to be invalid, all of his claims under the ADEA shall be extinguished.

Executive is hereby advised to consult with an attorney before executing this Release. Executive represents that he has read carefully and fully understands the terms of this Release. Executive acknowledges that Executive is signing this Release voluntarily and knowingly and that Executive has not relied on any representations, promises or agreements of any kind made to Executive in connection with Executive’s decision to accept the terms of this Release, other than those set forth in this Release. Executive acknowledges that Executive has been given at least [twenty-one (21)] [forty-five (45)] days to consider whether Executive wants to sign this Release.

Executive acknowledges that the Age Discrimination in Employment Act gives Executive the right to revoke this Release within seven (7) days after it is signed by Executive. Executive further acknowledges and understands that Executive will not receive any payments or benefits due to Executive under the Amended and Restated Change in Control and Severance Agreement before the seven (7) day revocation period under the ADEA (the “Revocation Period”) has passed and then, only if Executive has not revoked this Release. To the extent Executive has executed this Release within less than [twenty-one (21)] [forty-five (45)] days after its delivery to Executive, Executive hereby acknowledges that Executive’s decision to execute this Release prior to the expiration of such [twenty-one (21)] [forty-five (45)] day period was entirely voluntary.

IN WITNESS WHEREOF, Executive has hereunto set his hand as of the day and year set forth below.

EXECUTIVE

Richard A. Dierker

Date:

EXHIBIT 31.1

CERTIFICATIONS

I, Richard A, Dierker, certify that:

I have reviewed this quarterly report on Form 10-Q of Church & Dwight Co., Inc.;

Based on my knowledge, this report does not contain any untrue statement of any material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on our evaluation; and

Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of registrant’s board of directors (or persons performing the equivalent functions):

All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.



Date:	May 1, 2026	/s/ Richard A. Dierker
		Richard A. Dierker
		President and Chief Executive Officer

EXHIBIT 31.2

CERTIFICATIONS

I, Lee B. McChesney, certify that:

I have reviewed this quarterly report on Form 10-Q of Church & Dwight Co., Inc.;

Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.



Date:	May 1, 2026	/s/ Lee B. McChesney
		Lee B. McChesney
		Executive Vice President and Chief Financial Officer

EXHIBIT 32.1

CERTIFICATION PURSUANT TO

RULE 13a-14(b) UNDER THE SECURITIES EXCHANGE ACT AND
18 U.S.C. SECTION 1350

I, Richard A. Dierker, President and Chief Executive Officer of Church & Dwight Co., Inc. (the “Company”), hereby certify that, based on my knowledge:

1. The Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2026 (the “Report”) fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.



		By:		/s/ Richard A. Dierker
				Richard A. Dierker
				President and Chief Executive Officer

		Dated:		May 1, 2026

EXHIBIT 32.2

CERTIFICATION PURSUANT TO

RULE 13a-14(b) UNDER THE SECURITIES EXCHANGE ACT AND

18 U.S.C. SECTION 1350

I, Lee B. McChesney, Executive Vice President and Chief Financial Officer of Church & Dwight Co., Inc. (the “Company”), hereby certify that, based on my knowledge:

2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.



		By:		/s/ Lee B. McChesney
				Lee B. McChesney
				Executive Vice President and Chief Financial Officer

		Dated:		May 1, 2026