Company: CL
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0000021665-25-000008
Chunk: 33

Company: COLGATE PALMOLIVE CO
Filing Date: 2025-02-13
Form: 10-K
Item: Item 16
Chunk 33
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 implied share-price volatility derived from exchange traded options on the Company’s common stock. The risk-free interest rate for the expected term of the option is based on the yield of a zero-coupon U.S. Treasury bond with a maturity period equal to the option’s expected term.Stock OptionsThe Company issues non-qualified stock options to non-employee directors, officers and other key employees. Stock options have a contractual term of eight years and generally vest ratably over three years. As of December 31, 2024, approximately 19,248,078 shares of common stock were available for future stock option grants. 

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COLGATE-PALMOLIVE COMPANY Notes to Consolidated Financial Statements (continued)(Dollars in Millions Except Share and Per Share Amounts)

A summary of stock option activity during 2024 is presented below:  Shares(in thousands)Weighted Average Exercise PriceWeighted Average Remaining Contractual Life(in years)Intrinsic Value of Unexercised In-the-Money OptionsOptions outstanding, January 1, 202420,742 $75 Granted955 106   Exercised(8,662)74  Forfeited(240)76   Expired(21)73 Options outstanding, December 31, 202412,774 78 5$176 Options exercisable, December 31, 20249,265 $76 4$136 As of December 31, 2024, there was $12 of total unrecognized compensation expense related to unvested stock options, which will be recognized over a weighted-average period of 1.3 years. The total intrinsic value of options exercised during the years ended December 31, 2024, 2023 and 2022 was $150, $28 and $47, respectively.The benefits of tax deductions in excess of grant date fair value resulting from the exercise of stock options and vesting of restricted stock unit awards for the years ended December 31, 2024, 2023 and 2022 were $18, $4 and $2, respectively, and are recognized in the provision for income taxes as a discrete item in the quarterly period in which they occur and classified as an operating cash flow. Cash proceeds received from options exercised for the years ended December 31, 2024, 2023 and 2022 were $638, $380 and $418, respectively.Performance-based Restricted Stock UnitsUnder the Company’s long-term