Company: CL
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0000021665-25-000008
Chunk: 125

Company: COLGATE PALMOLIVE CO
Filing Date: 2025-02-13
Form: 10-K
Item: Item 7
Chunk 125
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 the credit facility were not material. 

Domestic and foreign commercial paper outstanding was $936 and $906 as of December 31, 2024 and December 31, 2023, respectively. The average daily balances outstanding of commercial paper in 2024 and 2023 were $1,710 and $1,800, respectively. The Company classifies commercial paper as long-term debt when it has the intent and ability to refinance such obligations on a long-term basis, including, if necessary, by utilizing its available lines of credit (under the facilities discussed above).

50

(Dollars in Millions Except Per Share Amounts)

The following is a summary of the Company’s commercial paper as of December 31, 2024 and 2023: 20242023 Weighted Average Interest RateMaturitiesOutstandingWeighted Average Interest RateMaturitiesOutstandingCommercial Paper3.0 %2025$936 4.0 %2024$906 

Certain of the agreements with respect to the Company’s bank borrowings contain financial and other covenants as well as cross-default provisions. Noncompliance with these requirements could ultimately result in the acceleration of amounts owed. The Company is in full compliance with all such requirements and believes the likelihood of noncompliance is remote. Refer to Note 5, Long-Term Debt and Credit Facilities to the Consolidated Financial Statements for further information about the Company’s long-term debt and credit facilities.

Dividend payments in 2024 were $1,789, an increase from $1,749 in 2023. Dividend payments increased to $1.98 per share in 2024 from $1.91 per share in 2023. In the first quarter of 2024, the Company increased the quarterly common stock dividend to $0.50 per share from $0.48 per share, effective in the second quarter of 2024. 

The Company repurchases shares of its common stock in the open market and in private transactions to maintain its targeted capital structure and to fulfill certain requirements of its compensation and benefit plans. On March 10, 2022, the Board authorized the repurchase of shares of the Company’s common stock having an aggregate purchase price of up to $5 billion under the 2022 Program, which replaced a previously authorized share repurchase program. The Board also has authorized share repurchases on an ongoing basis to fulfill certain requirements of the Company’s compensation and benefit programs. The shares are repurchased