You (I) learn something new everyday! Here's a quote directly from the Clorox website:
Q: What is bleach?
A: The active ingredient in household bleach is sodium hypochlorite, which is derived from salt. In fact, Clorox is headquartered in Oakland, California because we started making bleach here by running electricity through salt water from San Francisco Bay! So household bleach begins and ends as salt and water. During the laundering process, about 95 to 98 percent of household bleach quickly breaks down into oxidized salt and biodegradables, which is the primary reaction that makes it environmentally friendly.