Company: CL
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0000021665-25-000008
Chunk: 108

Company: COLGATE PALMOLIVE CO
Filing Date: 2025-02-13
Form: 10-K
Item: Item 7
Chunk 108
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 and administrative expenses as a percentage of Net sales, GAAP38.5 %36.8 %170 2022 Global Productivity Initiative(0.1)%(0.1)%Selling, general and administrative expenses as a percentage of Net sales, non-GAAP38.4 %36.7 %170 

32

(Dollars in Millions Except Per Share Amounts)

Other (Income) Expense, Net

Other (income) expense, net was $164 and $191 in 2024 and 2023, respectively. Other (income) expense, net in 2024 included charges resulting from the 2022 Global Productivity Initiative. Other (income) expense, net in 2023 included product recall costs and charges resulting from the 2022 Global Productivity Initiative.20242023Other (income) expense, net, GAAP$164 $191 2022 Global Productivity Initiative(59)(24)Product recall costs— (25)Other (income) expense, net, non-GAAP$105 $142 

Excluding the items described above in both periods, as applicable, Other (income) expense, net was $105 in 2024 and $142 in 2023, comprised of the following:20242023Amortization of intangible assets$75 $72 Equity income(22)(17)Losses (gains) from marketable securities and other assets6 11 Indirect tax payments (refunds)27 18 Other, net19 58 Total Other (income) expense, net, non-GAAP$105 $142 

33

(Dollars in Millions Except Per Share Amounts)

Operating Profit

Operating profit increased 7% to $4,268 in 2024 from $3,984 in 2023. In 2024, Operating profit included charges resulting from the 2022 Global Productivity Initiative. In 2023, Operating profit included charges resulting from the 2022 Global Productivity Initiative and product recall costs. Excluding these items in both periods, as applicable, Operating profit increased 8% to $4,353 in 2024 from $4,036 in 2023 primarily due to an increase in Gross profit, partially offset by an increase in Selling, general and administrative expenses.

    Operating profit margin was 21.2% in 2024, an increase of 70 bps compared with 20.