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

Company: COLGATE PALMOLIVE CO
Filing Date: 2025-02-13
Form: 10-K
Item: Item 16
Chunk 10
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 over the valuation of a certain reporting unit within the North America Oral, Personal and Home Care segment prior to the reporting structure realignment. These procedures also included, among others (i) testing management’s process for developing the fair value estimate of a certain reporting unit within the North America Oral, Personal and Home Care segment prior to the reporting structure realignment; (ii) evaluating the appropriateness of the income approach used by management; (iii) testing the completeness and accuracy of underlying data used in the income approach; and (iv) evaluating the reasonableness of the significant assumptions used by management related to the sales growth rates and the discount rate. Evaluating management’s assumptions related to the sales growth rates involved evaluating whether the assumptions used by management were reasonable considering (i) the current and past performance of a certain business within the North America Oral, Personal and Home Care segment; (ii) the consistency with external market and industry data; and (iii) whether the assumptions were consistent with evidence obtained in other areas of the audit. Professionals with specialized skill and knowledge were used to assist in evaluating (i) the appropriateness of the income approach and (ii) the reasonableness of the discount rate assumption.

/s/ PricewaterhouseCoopers LLPNew York, New YorkFebruary 13, 2025We have served as the Company’s auditor since 2002.

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COLGATE-PALMOLIVE COMPANY

Consolidated Statements of Income

For the years ended December 31,

(Dollars in Millions Except Per Share Amounts)202420232022Net sales$20,101 $19,457 $17,967 Cost of sales7,940 8,131 7,719 Gross profit12,161 11,326 10,248 Selling, general and administrative expenses7,729 7,151 6,565 Other (income) expense, net164 191 69 Goodwill and intangible assets impairment charges— — 721 Operating profit4,268 3,984 2,893 Non-service related postretirement costs87 360 80 Interest expense292 287 167 Interest income67 55 14 Income before income taxes3,956 3,392 2,660 Provision for income taxes907 937 693 Net income including noncontrolling interests3,049 2,455 1,967 Less: Net income attributable to noncontrolling