“Clorox so far has spent $25 million to respond to a suspected ransomware attack, including hiring forensic investigators and legal and technology help. More cyber expenses are expected to arise in 2024, the company said,” according to this Wall Street Journal report (paywall may apply).
From the Clorox 8K of 10/4/23. “Cybersecurity Attack Costs
Beginning in the first quarter of fiscal year 2024, incremental costs were incurred by the Company as a result of the identification of unauthorized activity on some of its Information Technology (IT) systems, as more thoroughly described in the Form 8-Ks that were furnished on Aug. 14 and Sept. 18, 2023. These costs were incurred to investigate and remediate the attack as well as incremental operating costs from the resulting disruption to parts of the Company’s business operations. These costs include third-party consulting services, including forensic experts, legal counsel and other IT professional services.
Cybersecurity attack costs are provided exclusive of any potential insurance recoveries. The timing of recognizing insurance recoveries may differ from the timing of recognizing the associated expenses. Costs associated with ongoing cybersecurity monitoring and prevention as well as enhancement to the Company’s cybersecurity program are not included within this adjustment. The Company expects to continue to incur costs associated with the cybersecurity attack in future periods.”