Accumulated Earnings and Profits

Gillette has done just fine selling razors. The company has little debt, tons of cash, pays a dividend, and over time has accumulated billions in after-tax earnings, lovingly referred to as profits.

Earnings and profits, notably, are not retained earnings. E&P is all about cash liquidity and things like Gillette's ability to buy other companies, like those making razors with creative places to shave (we mean outdoors, or on an airplane, obviously; we're a G-rated site), and/or distribute dividends to shareholders.