Consolidated Statements of Earnings Amounts in millions except per share amounts; Years ended June 30 2022 2021 2020 NET SALES $ 80,187 $ 76,118 $ 70,950 Cost of products sold 42,157 37,108 35,250 Selling, general and administrative expense 20,217 21,024 19,994 OPERATING INCOME 17,813 17,986 15,706 Interest expense (439) (502) (465) Interest income 51 45 155 Other non - operating income, net 570 86 438 EARNINGS BEFORE INCOME TAXES 17,995 17,615 15,834 Income taxes 3,202 3,263 2,731 NET EARNINGS 14,793 14,352 13,103 Less: Net earnings attributable to noncontrolling interests 51 46 76 NET EARNINGS ATTRIBUTABLE TO PROCTER & GAMBLE $ 14,742 $ 14,306 $ 13,027 NET EARNINGS PER COMMON SHARE: (1) Basic $ 6.00 $ 5.69 $ 5.13 Diluted $ 5.81 $ 5.50 $ 4.96 (1) Basic net earnings per common share and Diluted net earnings per common share are calculated on Net earnings attributable to Procter & Gamble. The Procter & Gamble Company 37 See accompanying Notes to Consolidated Financial Statements.