Company: CL
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0000021665-25-000008
Chunk: 106

Company: COLGATE PALMOLIVE CO
Filing Date: 2025-02-13
Form: 10-K
Item: Item 7
Chunk 106
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 body wash categories, partially offset by organic sales declines in the skin health category. 

The Company’s share of the global toothpaste market was 41.4% for full year 2024, up 0.3 share points from full year 2023, and its share of the global manual toothbrush market was 32.2% for full year 2024, up 0.7 share points versus full year 2023. Full year 2024 market shares in toothpaste were up in Latin America, Europe and Africa/Eurasia, flat in Asia Pacific and down in North America versus full year 2023. In the manual toothbrush category, full year 2024 market shares were up in North America, Latin America and Asia Pacific and flat in Europe and Africa/Eurasia versus full year 2023. For additional information regarding the Company’s use of market share data and limitations of such data, see “Market Share Information” below.

Net sales for Hill’s Pet Nutrition were $4,483 in 2024, up 4.5% from 2023, driven by volume growth of 0.8% and net selling price increases of 4.1%, partially offset by negative foreign exchange of 0.4%. Organic sales for Hill’s Pet Nutrition increased 4.9% in 2024.

The increase in organic sales in 2024 versus 2023 was due to increases in organic sales in the therapeutic and wellness categories.

30

(Dollars in Millions Except Per Share Amounts)

Gross Profit/Margin

Worldwide Gross profit increased 7% to $12,161 in 2024 from $11,326 in 2023. Worldwide Gross profit in both periods included charges resulting from the 2022 Global Productivity Initiative. Excluding these charges in both periods, worldwide Gross profit increased to $12,181 in 2024 compared to $11,327 in 2023, reflecting an increase of $482 resulting from higher Gross profit margin and an increase of $372 resulting from higher Net sales.

Worldwide Gross profit margin increased to 60.5% in 2024 from 58.2% in 2023. Excluding charges resulting from the 2022 Global Productivity Initiative in 2024, Gross profit margin increased to 60.6% in 2024 from 58.2% in 2023. This increase in Gross profit margin was due to cost savings from the Company’s funding-the-g