pgcommercialesp2014.htm
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
 
Form 11-K
 
x
ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED DECEMBER 31, 2013, OR
¨
TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM _________ to _________
 
 
Registration number: 33-50273
 
 
A.
Full title of the plan and the address of the plan, if different from that of the issuer named below: The Procter & Gamble Commercial Company Employees’ Savings Plan, Two Procter & Gamble Plaza, Cincinnati, Ohio 45202.
 
B.
Name of issuer of the securities held pursuant to the plan and the address of its principal executive office: c/o The Procter & Gamble Company, One Procter & Gamble Plaza, Cincinnati, Ohio 45202.
 
 
REQUIRED INFORMATION
 
Item 4
Plan Financial Statements and Schedules Prepared in Accordance with the Financial Reporting Requirements of ERISA.
   
 
 
SIGNATURE
  
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the Trustees (or other persons who administer the employee benefit plan) have duly caused this Annual Report to be signed on its behalf by the undersigned hereunto duly authorized.
 
THE PROCTER & GAMBLE COMMERCIAL
COMPANY EMPLOYEES’ SAVINGS PLAN 
Date:   June 25, 2014                                                             
 
 
By: __/s/ Eric S. Baumgardner________
       Eric S. Baumgardner
       Associate Director, HRSS Finance, Global Business Services
 

 
 
 
 
EXHIBIT INDEX
 
     23
Consent of the Deloitte & Touche LLP
 

 
 
 
 
 
 
 
 
 
 
 
 
 

 
 
 
 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 


 
The Procter & Gamble
Commercial Company
Employees’ Savings Plan
 
 
Financial Statements as of and for the
Years Ended December 31, 2013 and 2012,
Supplemental Schedules as of and for the
Year Ended December 31, 2013, and Report of
Independent Registered Public Accounting Firm
 
 
Plan # 002
EIN #66-0676831
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 
 
 
 
 



THE PROCTER & GAMBLE COMMERCIAL COMPANY
EMPLOYEES’ SAVINGS PLAN
 
 
  TABLE OF CONTENTS    
       
       Page
       
  REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM    1
       
  FINANCIAL STATEMENTS:    
       
 
 Statements of Net Assets Available for Benefits
    as of December 31, 2013 and 2012
    2
       
 
 Statements of Changes in Net Assets Available for Benefits
    for the Years Ended December 31, 2013 and 2012
    3
       
 
 Notes to Financial Statements as of and for the Years Ended
    December 31, 2013 and 2012
    4-10
       
  SUPPLEMENTAL SCHEDULES:    11
       
 
 Form 5500, Schedule H, Part IV, Line 4i - Schedule of Assets (Held at End of Year)
    as of December 31, 2013
    12
       
 
 Form 5500, Schedule H, Part IV, Line 4j - Schedule of Reportable Transactions
    for the Year Ended December 31, 2013
    13
       
 
 NOTE: All other schedules required by Section 2520.103-10 of the Department of Labor's Rules
       and Regulations for Reporting and Disclosure under the Employee Retirement Income
       Security Act of 1974 have been omitted because they are not applicable.
    
 
 
 
 
 
 
 
 
 
 
 

 
 
 


 
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
 
To The Procter & Gamble U.S. Business Services Company:
 
We have audited the accompanying statements of net assets available for benefits of The Procter & Gamble Commercial Company Employees’ Savings Plan (the “Plan”) as of December 31, 2013 and 2012, and the related statements of changes in net assets available for benefits for the years then ended. These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on these financial statements based on our audits.
 
We conducted our audits in accordance with standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. The Plan is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Plan’s internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.
 
In our opinion, such financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2013 and 2012, and the changes in net assets available for benefits for the years then ended in conformity with accounting principles generally accepted in the United States of America.
 
Our audits were conducted for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental schedules listed in the table of contents are presented for the purpose of additional analysis and are not a required part of the basic financial statements, but are supplementary information required by the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. These schedules are the responsibility of the Plan’s management. Such schedules have been subjected to the auditing procedures applied in the audit of the basic 2013 financial statements and, in our opinion, are fairly stated in all material respects when considered in relation to the basic financial statements taken as a whole.
 
 
 
/s/ Deloitte & Touche LLP
 
Cincinnati, Ohio
 
June 23, 2014
 


 
 
 
 
 
 

 
 
 
 

THE PROCTER & GAMBLE COMMERCIAL COMPANY
      
EMPLOYEES’ SAVINGS PLAN
      
       
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
      
AS OF DECEMBER 31, 2013 AND 2012
      
       
       
   
2013
    
2012
       
ASSETS:
      
  Investments — at fair value:
      
    Cash
  $          2,847
  
  $          2,842
    The Procter & Gamble Company common stock
      17,409,834
  
      14,782,587
    The J.M. Smucker Company common stock
            69,908
  
            59,577
    Mutual funds
      16,425,986
  
      13,100,148
       
           Total investments
      33,908,575
  
      27,945,154
       
  Receivables — notes receivable from participants
            17,827
  
            30,156
       
           Total assets
      33,926,402
  
      27,975,310
       
LIABILITY — Excess contributions payable
            38,049
  
            30,321
       
NET ASSETS AVAILABLE FOR BENEFITS
  $  33,888,353
  
  $  27,944,989
       
       
See notes to financial statements.
      
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 
-2-
 



THE PROCTER & GAMBLE COMMERCIAL COMPANY
      
EMPLOYEES’ SAVINGS PLAN
      
       
STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
    
FOR THE YEARS ENDED DECEMBER 31, 2013 AND 2012
      
       
       
   
2013
    
2012
       
ADDITIONS:
      
  Contributions:
      
    Participant contributions
  $      957,063
  
  $      885,491
    Employer contributions
          276,926
  
          256,376
       
           Total contributions
        1,233,989
  
        1,141,867
       
  Investment income:
      
    Net appreciation in fair value of investments
        5,377,594
  
        1,408,368
    Dividends and interest
          777,690
  
          739,632
       
           Net investment income
        6,155,284
  
        2,148,000
       
  Interest income on notes receivable from participants
              1,462
  
              1,949
       
           Total additions
        7,390,735
  
        3,291,816
       
DEDUCTIONS:
      
  Benefits paid to participants
        1,429,894
  
        1,205,242
  Administrative expenses
            17,477
  
            17,862
       
           Total deductions
        1,447,371
  
        1,223,104
       
INCREASE IN NET ASSETS
        5,943,364
  
        2,068,712
       
NET ASSETS AVAILABLE FOR BENEFITS:
      
  Beginning of year
      27,944,989
  
      25,876,277
       
  End of year
  $  33,888,353
  
  $  27,944,989
       
       
See notes to financial statements.
      
       


 
 
 
 
 
 
 
 
 

 
-3-
 
 

THE PROCTER & GAMBLE COMMERCIAL COMPANY
EMPLOYEES’ SAVINGS PLAN
 
NOTES TO FINANCIAL STATEMENTS
AS OF AND FOR THE YEARS ENDED DECEMBER 31, 2013 AND 2012
 
 
1.  
DESCRIPTION OF THE PLAN
 
The following description of The Procter & Gamble Commercial Company Employees’ Savings Plan (the “Plan”) provides only general information. Participants should refer to the Plan document for a more complete description of the Plan’s provisions.
 
General — The Plan is a defined contribution plan covering all eligible employees of Procter & Gamble Commercial, LLC (the “Plan Sponsor”) and Olay LLC, (collectively, the “Companies”), subsidiaries of The Procter & Gamble Company (P&G). In order to be eligible to participate in the Plan, employees must be residents of Puerto Rico and have completed one year of service. The Procter & Gamble U.S. Business Services Company controls and manages the operation and administration of the Plan. Banco Popular de Puerto Rico serves as the trustee of the Plan. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974 (ERISA).
 
Contributions — Each year, participants may contribute up to 10% of their pretax annual compensation, as defined in the Plan, not exceeding the maximum deferral amount specified by Puerto Rico law. Participants may also contribute amounts representing distributions from other qualified defined benefit or defined contribution plans. The Companies contribute 40% of the first 5% of eligible compensation that a participant contributes to the Plan. Contributions are subject to certain limitations.
 
Participant Accounts — Individual accounts are maintained for each Plan participant. Each participant’s account is credited with the participant’s contribution, allocations of the Companies’ contributions and Plan earnings, and charged with withdrawals and an allocation of Plan losses and administrative expenses. Allocations are based on participant earnings or account balances, as defined. The benefit to which a participant is entitled is the benefit that can be provided from the participant’s vested account.
 
Investments — Participants direct the investment of their contributions into various investment options offered by the Plan. The Companies’ contributions are automatically invested in The Procter & Gamble Company common stock (“P&G common stock”). The Plan currently offers six mutual funds (including a money market mutual fund) as investment options for participants.
 
Vesting — Participants are vested immediately in their contributions, plus actual earnings thereon. The Companies’ contributions plus actual earnings thereon are 100% vested upon the occurrence of any of the following events: completion of three years of credited service; attaining age 65; total disability or death while employed by the Companies.
 
Payment of Benefits — On termination of service, a participant may receive the value of the vested interest in his or her account as a lump-sum distribution.
 
Notes Receivable from Participants — New loans to participants are not permitted under the Plan. Participant loans included in the accompanying statement of net assets available for benefits represent outstanding loans granted to participants of The Gillette Company Employees’ Savings Plan prior to its merger with the Plan on September 4, 2009.
 
Forfeited Accounts — At December 31, 2013 and 2012, forfeited nonvested accounts totaled $3,472 and $1,856, respectively. These accounts can be used to reduce future employer contributions.  There were no employer contributions reduced for the year ended December 31, 2013.  Employer contributions were reduced by $6,800 for the year ended December 31, 2012.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 
-4-
 



2.  
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
 
Basis of Accounting — The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP).
 
Use of Estimates — The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, and changes therein and disclosure of contingent assets and liabilities. Actual results could differ from those estimates.
 
Risks and Uncertainties — The Plan utilizes various investment instruments, including common stock and mutual funds. Investment securities, in general, are exposed to various risks, such as interest rate risk, credit risk, and overall market volatility. Due to the level of risk associated with certain investment securities, it is reasonably possible that changes in the values of investment securities could occur in the near term and that such changes could materially affect the amounts reported in the financial statements.
 
Investment Valuation and Income Recognition — The Plan’s investments are stated at fair value. Fair value of a financial instrument is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Quoted market prices are used to value investments.
 
Purchases and sales of securities are recorded on a trade-date basis. Interest income is recorded on the accrual basis. Dividends are recorded on the ex-dividend date. Net appreciation includes the Plan’s gains and losses on investments bought and sold as well as held throughout the year.
 
Management fees and operating expenses charged to the Plan for investments in mutual funds are deducted from income earned on a daily basis and are not separately reflected. Consequently, management fees and operating expenses are reflected as a reduction of investment return for such investments.
 
Notes Receivable from Participants — Notes receivable from participants are measured at their unpaid principal balance plus any accrued but unpaid interest. Delinquent participant loans are recorded as distributions based on the terms of the Plan document.
 
Excess Contributions Payable — The Plan is required to return contributions received during the Plan year in excess of the Puerto Rican Internal Revenue Code (the “PRIRC”) limits. As of December 31, 2013, the Plan had excess contributions payable to participants of $38,049. As of December 31, 2012, the Plan had excess contributions payable to participants of $30,321.
 
Payment of Benefits — Benefit payments to participants are recorded upon distribution. Amounts allocated to accounts of persons who have elected to withdraw from the Plan, but have not yet been paid, were $3,861 and $98,105 at December 31, 2013 and 2012, respectively.
 
Administrative Expenses — Investment management expenses are paid by the Plan and are netted against investment income. Recordkeeping fees of the Plan are paid by participants through a reduction in their investment balances.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 
-5-
 



3.  
FAIR VALUE MEASUREMENTS
 
ASC 820, Fair Value Measurements and Disclosures, provides a framework for measuring fair value. That framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value, as follows: Level 1, which refers to securities valued using unadjusted quoted prices from active markets for identical assets; Level 2, which refers to securities not traded on an active market but for which observable market inputs are readily available; and Level 3, which refers to securities valued based on significant unobservable inputs. Assets are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.
 
Asset Valuation Methodologies — Valuation methodologies maximize the use of relevant observable inputs and minimize the use of unobservable inputs. The following is a description of the valuation methodologies used for assets measured at fair value. There have been no changes in the methodologies used at December 31, 2013 and 2012.
 
Common Stocks — Valued at the closing price reported on the active market on which the individual securities are traded.
 
Mutual Funds — Valued at the daily closing price as reported by the fund. Mutual funds held by the Plan are open-ended mutual funds that are registered with the Securities and Exchange Commission. These funds are required to publish their daily net asset value and to transact at that price. The mutual funds held by the Plan are actively traded.
 
Cash Equivalents — Held primarily in short-term money market funds, which are valued at cost plus accrued interest.
 
Transfers between Levels — The availability of observable market data is monitored to assess the appropriate classification of financial instruments within the fair value hierarchy. Changes in economic conditions or model-based valuation techniques may require the transfer of financial instruments from one fair value level to another. The Plan’s policy is to recognize transfers between levels at the actual date of the event or change in circumstances that caused the transfer.  
 
For the years ended, December 31, 2013 and 2012, there were no transfers between levels.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 
-6-
 



The following tables set forth by level within the fair value hierarchy a summary of the Plan’s investments measured at fair value on a recurring basis at December 31, 2013 and 2012.
 
 
Assets Measured at Fair Value at December 31, 2013
      Quoted Prices in     Significant Other  
Significant
    
     Active Markets for  
Observable
  
Unobservable
    
   
Identical Assets
  
Inputs
  
Inputs
    
   
(Level 1)
  
(Level 2)
  
(Level 3)
    
Total
                 
Cash
  
  $          2,847
  
  $          -
  
  $          -
  
  $          2,847
Mutual funds:
                
  Money market
  
        1,725,231
  
  $          -
  
  $          -
  
        1,725,231
  Equity
  
        9,603,804
  
  $          -
  
  $          -
  
        9,603,804
  Fixed income
  
        1,565,787
  
  $          -
  
  $          -
  
        1,565,787
  Balanced
  
        3,531,164
  
  $          -
  
  $          -
  
        3,531,164
Common stock
  
      17,479,742
  
  $          -
  
  $          -
  
      17,479,742
                 
Total
  
  $  33,908,575
  
  $          -
  
  $          -
  
  $  33,908,575



 
Assets Measured at Fair Value at December 31, 2012
   
Quoted Prices in
    Significant Other  
Significant
    
     Active Markets for  
Observable
  
Unobservable
    
   
Identical Assets
  
Inputs
  
Inputs
    
   
(Level 1)
  
(Level 2)
  
(Level 3)
    
Total
                 
Cash
  
  $          2,842
  
  $          -
  
  $          -
  
  $          2,842
Mutual funds:
                
  Money market
  
        1,707,433
  
              -
  
              -
  
        1,707,433
  Equity
  
        6,954,053
  
              -
  
              -
  
        6,954,053
  Fixed income
  
        1,534,488
  
              -
  
              -
  
        1,534,488
  Balanced
  
        2,904,174
  
              -
  
              -
  
        2,904,174
Common stock
  
      14,842,164
  
              -
  
              -
  
      14,842,164
                 
Total
  
  $  27,945,154
  
  $          -
  
  $          -
  
  $  27,945,154
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 
-7-
 

4.  
INVESTMENTS
 
The Plan’s investments that represented 5% or more of the Plan’s net assets available for benefits at December 31, 2013 and 2012, are as follows:
 

 
  
2013
  
2012
 
The Procter & Gamble Company common stock (1)
  $  17,409,834
  $  14,782,587
Vanguard Balanced Index Fund
        3,531,164
        2,904,174
Vanguard Small Cap Index Fund
        2,673,531
        2,048,882
BlackRock S&P 500 Stock Fund*
              -
        3,790,552
JP Morgan Prime Money Market Fund (2)*
              -
        1,707,433
Vanguard Institutional Index Fund*
        5,489,453
              -
Vanguard Prime Money Market-INST Fund*
        1,725,231
              -
     
(1) Nonparticipant directed and represents a party-in-interest to the Plan.
  
(2) Party-in-interest to the Plan.
    
* Investment option added or removed during 2013
    
     

 
 
 
During the years ended December 31, 2013 and 2012, the Plan’s investments (including gains and losses on investments bought and sold, as well as held during the year) appreciated in value as follows:
 

   
2013
    
2012
       
Common stock
  $  2,947,683
  
  $     298,796
Mutual funds:
      
   Equity
      2,063,522
  
        861,911
   Fixed income
         (99,715)
  
          10,633
   Balanced
        466,104
  
        237,028
       
Net appreciation in fair value of investments
  $  5,377,594
  
  $  1,408,368
 
 
 
 
 
 

 


 
 
 
 

 
-8-
 
 

5.  
NONPARTICIPANT-DIRECTED INVESTMENT
 
Information about the net assets and the significant components of the changes in net assets relating to the nonparticipant-directed investment (P&G common stock) as of December 31, 2013 and 2012, and for the years then ended, is as follows:
 

   
2013
    
2012
       
Changes in net assets:
      
  Contributions
  $      681,174
  
  $      635,608
  Net appreciation in fair value of investments
        2,935,762
  
          293,001
  Dividends
          510,662
  
          488,701
  Benefits paid to participants
         (738,394)
  
         (605,724)
  Net transfers to participant-directed investments
         (764,804)
  
         (600,415)
  Management fees
            (2,895)
  
            (3,007)
  Other receipts/disbursements
              5,742
  
                  19
       
           Net change
        2,627,247
  
          208,183
       
The Procter & Gamble Company common stock — beginning
      
  of year
      14,782,587
  
      14,574,404
       
The Procter & Gamble Company common stock — end of
      
  year
  $  17,409,834
  
  $  14,782,587
       

 
6.  
EXEMPT PARTY-IN-INTEREST TRANSACTIONS
 
Certain Plan investments are shares of mutual funds managed by J.P. Morgan Investment Advisors. J.P. Morgan Retirement Plan Services is the record-keeper, as chosen by the Plan Committee as defined by the Plan. J.P. Morgan Investment Advisors and J.P. Morgan Retirement Plan Services are both affiliates of J.P. Morgan Chase Bank. J.P. Morgan Chase Bank is also the custodian as defined by the Plan. Therefore, these transactions qualify as party-in-interest transactions. In addition, the Plan has an interest bearing deposit with Banco Popular de Puerto Rico, the trustee for the Plan. Fees paid for the investment management services were included as a reduction of the return earned on each fund.
 
At December 31, 2013 and 2012, the Plan held 213,854 and 217,743 shares, respectively, of P&G common stock, with a cost basis of $10,652,324 and $10,452,572, respectively. Related dividend income for the years ended December 31, 2013 and 2012, amounted to $510,662 and $488,701, respectively.
 
 
 
 
 
 
 
 
 

 
-9-
 
 

7.  
PLAN TERMINATION
 
Although they have not expressed any intention to do so, the Companies have the right under the Plan to discontinue their contributions at any time and to terminate the Plan subject to the provisions set forth in ERISA. In the event that the Plan is terminated, participants would become 100% vested in their accounts.
 
8.  
TAX STATUS
 
The Plan is exempt from Puerto Rico income taxes under the provisions of the PRIRC enacted on January 31, 2011. The 2011 PRIRC replaced the 1994 PRIRC, as amended. The 2011 PRIRC modified rules concerning contribution limits, coverage requirements, non-discrimination testing, and other matters. The 2011 PRIRC also provided for certain changes applicable to plans sponsored by entities under common control. These changes were effective for periods commencing after December 31, 2010, with certain additional requirements beginning on January 1, 2012. The Plan is not qualified under Section 401(a) of the U.S. Internal Revenue Code, but it is exempt from U.S. taxation under Section 1022 of the Employee Retirement Income Security Act of 1974. The Plan is subject to routine audits by taxing jurisdictions at any time. The Companies and Plan management believe that the Plan is currently designed and operated in compliance with the applicable requirements of the 2011 PRIRC and the Plan and the related trust continue to be tax-exempt. Therefore, no provision for income taxes has been reflected in the Plan’s financial statements.
 
9.  
RECONCILIATION OF FINANCIAL STATEMENTS TO THE FORM 5500
 
Reconciliation of net assets available for benefits as shown in the financial statements to those in the Form 5500 as filed by the Plan as of December 31, 2013 and 2012, is as follows:
 
 
2013
  
2012
       
Net assets available for benefits per the financial statements
  $  33,888,353
  
  $  27,944,989
Certain deemed distributions of participant loans
          (17,827)
  
          (26,546)
       
Net assets available for benefits per Form 5500
  $  33,870,526
  
  $  27,918,443


For the year ended December 31, 2013, the following is a reconciliation of net investment income per the financial statements to the Form 5500:
 
Total net investment income per the financial statements
  $  6,155,284
Interest income on notes receivable from participants per the financial statements
            1,462
Less interest on deemed distributions
          (1,319)
   
Total income on investments per the Form 5500
  $  6,155,427


For the year ended December 31, 2013, the following is a reconciliation of total deductions per the financial statements to the Form 5500:
   
Total deductions per the financial statements
  $  1,447,371
Less deemed loan distributions
         (10,038)
   
Total expenses per the Form 5500
  $  1,437,333
   


 
 
 
 
 
 
 
 
 
 

 
-10-
 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 


SUPPLEMENTAL SCHEDULES
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 
-11-
 
 



THE PROCTER & GAMBLE COMMERCIAL COMPANY
    
EMPLOYEES’ SAVINGS PLAN
      
         
FORM 5500, SCHEDULE H, PART IV, LINE 4i — SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AS OF DECEMBER 31, 2013
      
EIN: 66-0676831
      
PLAN: 002
      
         
         
   
Description of
    
 
Identity of Issue
Investment
Cost
  
Fair Value
         
*
The Procter & Gamble Company
Common stock
  $   10,652,324
  $   17,409,834
         
 
The J.M. Smucker Company
Common stock
**
              69,908
         
 
Vanguard FTSE All-World EX US Index Fund
Mutual fund
**
         1,440,821
         
 
Vanguard Balanced Index Fund
Mutual fund
**
         3,531,164
         
 
Vanguard Small Cap Index Fund
Mutual fund
**
         2,673,531
         
 
Vanguard Inflation Protected Securities Fund
Mutual fund
**
            377,635
         
 
Vanguard Total Bond Market Index Fund
Mutual fund
**
         1,188,151
         
 
Vanguard Prime Money Market-Inst Fund
Mutual fund
**
         1,725,231
         
 
Vanguard Institutional Index Fund
Mutual fund
**
         5,489,453
         
*
JP Morgan Chase Bank
Deposit
**
                   150
         
*
Banco Popular de P.R. (Time Deposit)
Time deposit open account
    
   
  bearing interest at a variable rate
    
   
  (.10% at December 31, 2013)
 
                2,697
         
 
Total
    
  $   33,908,575
         
  * Party-in Interest.      
  ** Cost information is not required for participant-directed investments and therefore is not included.      


 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 
-12-
 
 
 

THE PROCTER & GAMBLE COMMERCIAL COMPANY
        
EMPLOYEES’ SAVINGS PLAN
          
           
FORM 5500, SCHEDULE H, PART IV, LINE 4j — SCHEDULE OF REPORTABLE TRANSACTIONS
    
FOR THE YEAR ENDED DECEMBER 31, 2013
          
EIN: 66-0676831
          
PLAN: 002
          
           
           
SINGLE TRANSACTIONS — None.
          
           
SERIES OF TRANSACTIONS
          
       
Current
  
       
Value of
  
       
Asset on
Net
 
Purchase
Sales
Cost of
Transaction
Gain
Description of Asset
Amount
Amount
Asset
Date
on Sale
           
The Procter & Gamble Company common stock *
1,264,943
-
1,264,943
1,264,943
-
The Procter & Gamble Company common stock *
-
1,551,296
1,047,391
1,551,296
503,905
           
           
* Party-in-interest.
          

 
 
 
 
 
 
 
 
 
 
 
 
 
 

 
 
-13-