Company: CL
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0000021665-25-000008
Chunk: 42

Company: COLGATE PALMOLIVE CO
Filing Date: 2025-02-13
Form: 10-K
Item: Item 16
Chunk 42
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42023Benefit Obligation Exceeds Fair Value of Plan Assets  Accumulated postretirement benefit obligation$632 $665 Fair value of plan assets— — 

101

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

Summarized information regarding the net periodic benefit costs for the Company’s defined benefit and other retiree benefit plans is as follows:  Pension PlansOther Retiree Benefit Plans  202420232022202420232022202420232022  United StatesInternational   Components of Net Periodic Benefit Cost         Service cost$1 $— $— $16 $15 $15 $7 $7 $18 Interest cost99 91 64 33 33 21 36 38 36 Expected return on plan assets(85)(79)(101)(29)(25)(21)— — — Amortization of transition and prior service costs (credits)— — — 1 1 1 (21)(20)(6)Amortization of actuarial loss39 43 46 5 5 7 4 1 14 Net periodic benefit cost$54 $55 $9 $26 $29 $23 $26 $26 $62 Other postretirement charges5 3 13 — 2 4 — — 2 ERISA litigation matter—267 — — — — — — — Total pension cost$59 $325 $22 $26 $31 $27 $26 $26 $64 Weighted-Average Assumptions Used to Determine Net Periodic Benefit Cost         Discount rate5.40 %5.66 %2.98 %4.61 %4.75 %2.10 %5.37 %5.67 %3.06 %Expected long-term rate of return on plan assets6.50 %6.25 %5.70 %5.69 %4.66 %2.72 %N/AN/AN/ALong-term rate of compensation increase3.50 %3.50 %3.50 %3.24 %3.