Colgate Announces 4th Quarter and Full Year 2012 Results

Thu Jan 31, 2013 7:00am EST

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Operating Profit, Net Income and Diluted EPS All Up for 4Q and Full Year
NEW YORK--(Business Wire)--
Colgate-Palmolive Company (NYSE:CL) today reported worldwide Net sales of $4,286
million in fourth quarter 2012, an increase of 2.5% versus fourth quarter 2011.
Global unit volume grew 1.5%, pricing increased 2.5% and foreign exchange was
negative 1.5%. Organic sales (Net sales excluding foreign exchange, acquisitions
and divestments) grew 4.0%. 

Net income and Diluted earnings per share in fourth quarter 2012 were $598
million and $1.26, respectively. Net income in fourth quarter 2012 included $73
million ($0.15 per diluted share) of aftertax charges resulting from the
implementation of the previously disclosed four-year Global Growth and
Efficiency Program (the "2012 Restructuring Program") and costs associated with
the sale of land in Mexico. 

Net income and Diluted earnings per share in fourth quarter 2011 were $590
million and $1.21, respectively. As previously disclosed, Net income in fourth
quarter 2011 included aftertax charges of $44 million ($0.09 per diluted share)
resulting from the items described in Table 8. 

Excluding the above noted items in both periods, Net income in fourth quarter
2012 was $671 million, an increase of 6% versus fourth quarter 2011, and Diluted
earnings per share in fourth quarter 2012 was $1.41, an increase of 8% versus
fourth quarter 2011. 

Gross profit margin was 58.4% in fourth quarter 2012 versus 57.4% in the year
ago quarter. Excluding the above noted items in both periods, Gross profit
margin was 58.6% in fourth quarter 2012, an increase of 90 basis points versus
the year ago quarter, as higher pricing and cost savings from the Company`s
funding-the-growth initiatives more than offset the impact of increases in raw
and packaging material costs and higher production costs in Venezuela. 

Selling, general and administrative expenses were 34.7% of Net sales in fourth
quarter 2012 versus 34.6% in fourth quarter 2011. Excluding the above noted
items in both periods, Selling, general and administrative expenses increased by
10 basis points to 34.6% of Net sales in fourth quarter 2012, as overhead
expenses increased by 20 basis points and advertising decreased by 10 basis
points. Worldwide advertising spending on an absolute basis increased 1.4%
versus the year ago quarter to $434 million. 

Operating profit increased 2% to $942 million in fourth quarter 2012 compared to
$923 million in fourth quarter 2011. Excluding the above noted items in both
periods, Operating profit increased 6% to $1,035 million. 

Net cash provided by operations for the full year 2012 increased 10% to $3,196
million compared to $2,896 million for the full year 2011. The increase was
driven by strong operating earnings as well as a continued tight focus on
working capital, especially accounts receivable and inventory management. Free
cash flow before dividends exceeded 100% of Net income. Working capital as a
percentage of Net sales was 0.7%, even with the year ago period. 

For the full year 2012, worldwide Net sales were $17,085 million, up 2.0% versus
full year 2011. Global unit volume grew 3.0%, pricing increased 3.0% and foreign
exchange was negative 4.0%. Excluding divested businesses, global unit volume
grew 3.5%. The Sanex acquisition contributed 0.5% to full year sales and volume
growth. Organic sales grew 6.0%. 

Net income and Diluted earnings per share for full year 2012 were $2,472 million
and $5.15, respectively. Full year 2012 results include $102 million ($0.21 per
diluted share) of aftertax charges resulting from the implementation of the 2012
Restructuring Program, the implementation of the previously disclosed business
realignment and other cost-saving initiatives and costs associated with the sale
of land in Mexico. 

Net income and Diluted earnings per share for full year 2011 were $2,431 million
and $4.94, respectively. As previously disclosed, full year 2011 results
included net aftertax charges of $42 million ($0.09 per diluted share) resulting
from the items described in Table 9. 

Excluding the items noted above in both periods, Net income for full year 2012
increased 4% versus full year 2011 and Diluted earnings per share increased 7%
versus full year 2011. 

Gross profit margin was 58.1% for full year 2012 versus 57.3% in full year 2011.
Excluding the items noted above in both periods, gross profit margin was 58.3%
in full year 2012, up 70 basis points versus full year 2011, as higher pricing
and cost savings from the Company`s funding-the-growth initiatives more than
offset the impact of increases in raw and packaging material costs and negative
foreign exchange transaction costs. 

As previously disclosed, the 2012 Restructuring Program is projected to result
in cumulative pretax charges, once all phases are approved and implemented,
totaling between $1,100 and $1,250 million ($775 and $875 million aftertax),
with pretax savings projected to be in the range of $365 to $435 million ($275
to $325 million aftertax) annually by the fourth year of the program. Fourth
quarter projects under the 2012 Restructuring Program have been initiated
largely as planned, with savings from the 2012 Restructuring Program expected to
be realized beginning in 2013. 

Ian Cook, Chairman, President and Chief Executive Officer, commented on the
results and outlook excluding the 2012 and 2011 items noted above, "We are very
pleased to have ended the year with another quarter of strong profitability.
Gross profit margin, operating profit margin and net income as a percent of
sales all increased versus the year ago period. 

"As we began 2012, we anticipated an intense competitive environment, and
challenging foreign currency exchange and macroeconomic conditions worldwide.
Despite this, we planned to improve worldwide market shares and volume growth,
achieve gross margin expansion, increase commercial spending and grow diluted
earnings per share at a double-digit rate, on a currency-neutral basis. 

"We are delighted that we were able to achieve all of these objectives in 2012.
It was another year of healthy top-line growth as well, with organic sales
increasing 6.0%, led by the emerging markets where organic sales grew a robust
10.0%. Pleasingly, this growth was well balanced between solid unit volume gains
and higher pricing worldwide. 

"Colgate`s global market shares in toothpaste and manual toothbrushes are both
at record highs year to date. Colgate`s share of the global toothpaste market
strengthened to 44.6% year to date, up 0.5 share points versus year ago. Our
global leadership in manual toothbrushes also strengthened during the quarter
with Colgate`s global market share in that category reaching 32.7% year to date,
up 0.8 share points versus year ago. 

"Looking forward, we expect our growth momentum to continue as we enter 2013.
Our new product pipeline is very full around the world and we are pleased that
our global restructuring program is on track and proceeding smoothly. We also
continue to be sharply focused on our aggressive funding-the-growth programs and
our strategic worldwide pricing initiatives. 

"Based on this, we anticipate another year of gross margin expansion in 2013 and
that diluted earnings per share will grow at a double-digit rate, on a dollar
basis, excluding charges related to the 2012 Restructuring Program and absent
any major currency devaluations or significant macroeconomic events." 

At 11:00 a.m. ET today, Colgate will host a conference call to elaborate on
fourth quarter results. To access this call as a webcast, please go to Colgate`s
web site at http://www.colgatepalmolive.com. 

The following are comments about divisional performance for fourth quarter 2012
versus the year ago period. See attached Geographic Sales Analysis and Segment
Information schedules for additional information on divisional sales and
operating profit. 

North America (18% of Company Sales)

North America Net sales increased 4.0% in fourth quarter 2012. Unit volume
increased 1.5% with 2.0% higher pricing and 0.5% positive foreign exchange.
Organic sales increased 3.5% during the quarter. 

Operating profit in North America increased 23% in the fourth quarter of 2012 to
$236 million, or 30.0% of Net sales. This increase in Operating profit was due
to an increase in Gross profit and a decrease in Selling, general and
administrative expenses, both as a percentage of Net sales. This increase in
Gross profit was driven by cost savings from the Company`s funding-the-growth
initiatives and higher pricing, which were partially offset by higher raw and
packaging material costs. This decrease in Selling, general and administrative
expenses was primarily due to lower advertising expenses. 

In the U.S., Colgate`s toothpaste market share reached 36.1% year to date, up
1.0 share point versus year ago, driven by strong sales of Colgate Optic White
and Colgate Optic White Enamel White toothpastes. In manual toothbrushes,
Colgate`s leading market share reached 35.7% year to date, up 2.1 share points
versus year ago, driven by the success of Colgate 360° Optic White, Colgate 360°
Sensitive Pro-Relief and Colgate Extra Clean manual toothbrushes. 

Successful products driving growth in the U.S. in other categories include
Colgate Optic White mouthwash, Softsoap brand Pampered Hands Coconut Lime
Parfait foaming hand soap, Softsoap brand Citrus Splash & Berry Fusion body
wash, Palmolive Soft Touch with Coconut Butter dish liquid, Suavitel fabric
conditioner and Fabuloso liquid cleaner. 

Exciting new products launching in first quarter 2013 include Colgate 360° Total
Advanced Floss Tip bristles manual toothbrush, Colgate Optic White Dual Action
toothpaste and Colgate Total Zx Pro-Shield Plus Sensitivity toothpaste offering
long-lasting protection for teeth, gums and sensitivity. 

Latin America (29% of Company Sales)

Latin America Net sales increased 1.5% in fourth quarter 2012. Unit volume
decreased 1.5% with 5.0% higher pricing and 2.0% negative foreign exchange.
Excluding divested businesses, Latin America unit volume decreased 1.0%. Volume
gains in Brazil and Central America were offset by volume declines in Venezuela.
Organic sales for Latin America increased 4.0% during the quarter. 

Operating profit in Latin America decreased 4% in the fourth quarter of 2012 to
$348 million, or 28.5% of Net sales. This decrease in Operating profit was due
to a decrease in Gross profit and an increase in Selling, general and
administrative expenses, both as a percentage of Net sales. This decrease in
Gross profit was due to higher raw and packaging material costs and the
increasingly difficult economic and labor environment in Venezuela, which
likewise impacted unit volume in that country. Increasingly during the quarter,
production at CP Venezuela was negatively impacted by labor issues that we
understand also affected a number of other companies within the country. The
decrease in Gross profit was partially offset by cost savings from the Company`s
funding-the-growth initiatives and higher pricing. This increase in Selling,
general and administrative expenses was primarily due to higher overhead
expenses and higher advertising expenses, both as a percentage of Net sales.
This increase in overhead expenses was mainly due to higher costs due to
inflation, particularly in Venezuela. 

Colgate`s strong leadership in oral care throughout Latin America continued
during the quarter with year to date toothpaste market share gains led by
Brazil, Chile, Uruguay and the Dominican Republic. Strong sales of Colgate
Luminous White, Colgate Total Pro Gum Health and Colgate Triple Action Extra
Whitening toothpastes contributed to growth throughout the region. Colgate
strengthened its leadership of the manual toothbrush market throughout the
region, driven by strong sales of Colgate 360° Surround, Colgate 360° Luminous
White and Colgate Triple Action manual toothbrushes. In mouthwash, Colgate`s
year-to-date market share is at a record high in the region with gains driven by
Colgate Luminous White mouthwash and the relaunch of Colgate Plax mouthwash. 

Products in other categories contributing to market share gains included Protex
Men and Palmolive Naturals Pomegranate bar soaps, Speed Stick Naturals & Protect
deodorant and the relaunch of Suavitel Good Bye Ironing fabric conditioner. 

Europe/South Pacific (20% of Company Sales)

Europe/South Pacific Net sales in fourth quarter 2012 were even with the year
ago period. Unit volume increased 2.5% with 1.0% lower pricing and 1.5% negative
foreign exchange. Volume gains in Australia, Denmark and France more than offset
volume declines in Germany and Iberia. Organic sales for Europe/South Pacific
increased 1.5%. 

Operating profit in Europe/South Pacific increased 14% in the fourth quarter of
2012 to $187 million, or 22.1% of Net sales. This increase in Operating profit
was due to an increase in Gross profit and a decrease in Selling, general and
administrative expenses, both as a percentage of Net sales. This increase in
Gross profit was driven by savings from the Company`s funding-the-growth
initiatives, which were partially offset by higher raw and packaging material
costs. This decrease in Selling, general and administrative expenses was driven
by lower overhead expenses. 

Colgate strengthened its oral care leadership in the Europe/South Pacific region
with toothpaste share gains led by Germany, Austria, Norway, Czech Republic,
Serbia, Croatia and Bulgaria. Successful premium products driving share gains
include Colgate Total Pro Gum Health, Colgate Sensitive Pro-Relief Enamel Repair
and Colgate Max White One toothpastes. In the manual toothbrush category,
Colgate 360° Max White One and Colgate Total Pro Gum Health manual toothbrushes
contributed to growth throughout the region. 

Recent premium innovations contributing to strength in other product categories
include Colgate Total Pro Gum Health and Colgate Sensitive Pro-Relief
mouthwashes, Colgate 360° battery toothbrush, Sanex Zero% shower gel, Palmolive
Ayurituel shower gels and liquid hand soaps inspired by ancient Indian Ayurvedic
rituals and ingredients known traditionally to help restore the wellbeing of
body and mind, Soupline Aroma Sensations fabric conditioner and Ajax Pure Home
liquid cleaner. 

Greater Asia/Africa (20% of Company Sales)

Greater Asia/Africa Net sales and unit volume increased 9.0% and 8.0%,
respectively, during fourth quarter 2012. Volume gains were led by India, the
Greater China region, Russia, the Philippines and South Africa. Pricing
increased 2.0% and foreign exchange was negative 1.0%. Organic sales for Greater
Asia/Africa increased 10.0%. 

While Operating profit in Greater Asia/Africa increased 6% in the fourth quarter
of 2012 to $215 million, it decreased as a percentage of Net Sales to 24.7%.
This decrease in Operating profit as a percentage of Net sales was due to an
increase in Selling, general and administrative expenses as a percentage of Net
sales, which was partially offset by an increase in Gross profit as a percentage
to Net sales. This increase in Gross profit was due to cost savings from the
Company`s funding-the-growth initiatives and higher pricing, partially offset by
higher raw and packaging material costs. This increase in Selling, general and
administrative expenses was driven by higher overhead expenses due to sales
force expansion to support business growth and higher advertising expenses. 

Colgate continued its toothpaste leadership in Greater Asia, driven by market
share gains in India, China, Malaysia, Singapore and Hong Kong. Successful new
products including Colgate Optic White, Colgate Total Pro Gum Health, Darlie
Enamel and Darlie Expert White toothpastes contributed to growth throughout the
region. 

Successful products contributing to growth in other categories in the region
include Colgate Slim Soft and Colgate 360° Surround manual toothbrushes, Colgate
Optic White and Colgate Plax Fruity Fresh mouthwashes and Protex for Men shower
gel. 

Hill`s Pet Nutrition (13% of Company Sales)

Hill`s Net sales decreased 1.0% during fourth quarter 2012. Unit volume
decreased 2.5%, pricing increased 2.5% and foreign exchange was negative 1.0%.
Volume declines in the U.S., Europe and Japan were partially offset by volume
gains in Brazil and South Africa. Hill`s organic sales were even with the year
ago period. 

Hill`s Operating profit decreased 2% in the fourth quarter of 2012 to $149
million, or 26.7% of Net sales. This decrease in Operating profit as a
percentage of Net sales was due to an increase in Selling, general and
administrative expenses as a percentage of Net sales, which was partially offset
by an increase in Gross profit as a percentage to Net sales. This increase in
Gross profit was driven by cost savings from the Company`s funding-the-growth
initiatives and higher pricing, which were partially offset by higher raw and
packaging material costs. This increase in Selling, general and administrative
expenses was primarily due to higher overhead and advertising expenses. 

Recent new product introductions contributing to sales in the U.S. include
Science Diet Ideal Balance canine and feline, which combine natural ingredients
with the power of advanced nutrition in one balanced package, Science Diet
Tender Dinners feline, Prescription Diet i/d Canine Low Fat GI Restore,
specially formulated to help manage gastrointestinal disorders, and the relaunch
of Science Diet Canine with new formulas and improved package design. 

New pet food products contributing to international sales include new flavors
for Prescription Diet i/d, k/d and c/d pouches, the launch of Science Plan and
Science Plan VetEssentials pouches, reformulated Science Plan Puppy Large Breed,
Prescription Diet y/d Feline Thyroid Health, reformulated Science Plan Adult and
Mature Adult Canine and Feline with improved taste and the relaunch of Science
Plan Nature`s Best with upgraded ingredients and package design. 

*** 

About Colgate-Palmolive: Colgate-Palmolive is a leading global consumer products
company, tightly focused on Oral Care, Personal Care, Home Care and Pet
Nutrition. Colgate sells its products in over 200 countries and territories
around the world under such internationally recognized brand names as Colgate,
Palmolive, Mennen, Speed Stick, Lady Speed Stick, Softsoap, Irish Spring,
Protex, Sorriso, Kolynos, elmex, Tom`s of Maine, Sanex, Ajax, Axion, Fabuloso,
Soupline and Suavitel, as well as Hill`s Science Diet and Hill`s Prescription
Diet. For more information about Colgate`s global business, visit the Company`s
web site at http://www.colgatepalmolive.com. To learn more about Colgate Bright
Smiles, Bright Futures oral health education program, please visit
http://www.colgatebsbf.com. CL-E 

The Company`s annual meeting of shareholders is currently scheduled for Friday,
May 10, 2013. 

Substantially all market share data included in this press release is compiled
from data as measured by Nielsen. 

Explanatory Note Regarding Currency Neutral Calculations

Diluted earnings per share growth, on a currency neutral basis, for full year
2012 eliminates from Diluted earnings per share growth (GAAP) the impact of the
items described in Table 9 and the period-over-period changes in foreign
exchange rates in the translation of local currency results into U.S. dollars.
Accordingly, for purposes of calculating Diluted earnings per share growth, on a
currency neutral basis, full year 2012 local currency results, which include the
impact of foreign currency transaction gains and losses, are translated into
U.S. dollars using 2011 average foreign exchange rates. 

Cautionary Statement on Forward-Looking Statements

This press release and the related webcast (other than historical information)
may contain forward-looking statements. Such statements may relate, for example,
to sales or volume growth, organic sales growth, profit or profit margin growth,
earnings growth, financial goals, the impact of currency devaluations, exchange
controls, price controls and labor unrest, including in Venezuela,
cost-reduction plans including the 2012 Restructuring Program, tax rates, new
product introductions or commercial investment levels. These statements are made
on the basis of our views and assumptions as of this time and we undertake no
obligation to update these statements. We caution investors that any such
forward-looking statements are not guarantees of future performance and that
actual events or results may differ materially from those statements. Investors
should consult the Company`s filings with the Securities and Exchange Commission
(including the information set forth under the caption "Risk Factors" in the
Company`s Annual Report on Form 10-K for the year ended December 31, 2011) for
information about certain factors that could cause such differences. Copies of
these filings may be obtained upon request from the Company`s Investor Relations
Department or on the Company`s web site at http://www.colgatepalmolive.com. 

Non-GAAP Financial Measures

The following provides information regarding the non-GAAP financial measures
used in this earnings release and/or the related webcast: 

To supplement Colgate`s Condensed Consolidated Income Statements presented in
accordance with accounting principles generally accepted in the United States of
America (GAAP), the Company has disclosed non-GAAP measures of operating results
that exclude certain items. Worldwide Gross profit, Gross profit margin,
Selling, general and administrative expenses, Selling, general and
administrative expenses as a percentage of Net sales, Other (income) expense,
net, Operating profit, Operating profit margin, Net income attributable to
Colgate-Palmolive Company and Diluted earnings per common share are discussed
both as reported (on a GAAP basis) and excluding charges resulting from the
implementation of the 2012 Restructuring Program, costs related to the sale of
land in Mexico, costs associated with various business realignment and other
cost-saving initiatives, the gain from the sale of the Company`s non-core
laundry detergent business in Colombia and the charge for a French competition
law matter (non-GAAP). Management believes these non-GAAP financial measures
provide investors with useful supplemental information regarding the performance
of the Company`s ongoing operations. See "Non-GAAP Reconciliations" for the
three and twelve months ended December 31, 2012 and 2011 included with this
release for a reconciliation of these financial measures to the related GAAP
measures. 

This release discusses organic sales growth, which is Net sales growth excluding
the impact of foreign exchange, acquisitions and divestments. Management
believes this measure provides investors with useful supplemental information
regarding the Company`s underlying sales trends by presenting sales growth
excluding the external factor of foreign exchange as well as the impact from
acquisitions and divestments. See "Geographic Sales Analysis Percentage Changes"
for the three and twelve months ended December 31, 2012 vs 2011 included with
this release for a comparison of organic sales growth to sales growth in
accordance with GAAP. 

The Company uses these financial measures internally in its budgeting process
and as factors in determining compensation. While the Company believes that
these financial measures are useful in evaluating the Company`s business, this
information should be considered as supplemental in nature and is not meant to
be considered in isolation or as a substitute for the related financial
information prepared in accordance with GAAP. In addition, these non-GAAP
financial measures may not be the same as similar measures presented by other
companies. 

The Company defines free cash flow before dividends as net cash provided by
operations less capital expenditures. As management uses this measure to
evaluate the Company`s ability to satisfy current and future obligations,
repurchase stock, pay dividends and fund future business opportunities, the
Company believes that it provides useful information to investors. Free cash
flow before dividends is not a measure of cash available for discretionary
expenditures since the Company has certain non-discretionary obligations such as
debt service that are not deducted from the measure. Free cash flow before
dividends is not a GAAP measurement and may not be comparable to similarly
titled measures reported by other companies. See "Condensed Consolidated
Statements of Cash Flows" for the twelve months ended December 31, 2012 and 2011
for a comparison of free cash flow before dividends to Net cash provided by
operations as reported in accordance with GAAP. 

(See attached tables for fourth quarter results.)

 Table 1                                                                                      
                                                                                              
 Colgate-Palmolive Company                                                                    
                                                                                              
 Condensed Consolidated Statements of Income                                                  
                                                                                              
 For the Three Months Ended December 31, 2012 and 2011                                        
                                                                                              
 (Dollars in Millions Except Per Share Amounts) (Unaudited)                                   
                                                                                              
                                                              2012             2011           
                                                                                              
 Net sales                                                    $   4,286        $   4,172      
                                                                                              
 Cost of sales                                                    1,781            1,779      
                                                                                              
 Gross profit                                                     2,505            2,393      
                                                                                              
 Gross profit margin                                              58.4   %         57.4   %   
                                                                                              
 Selling, general and administrative expenses                     1,487            1,444      
                                                                                              
 Other expense, net                                               76               26         
                                                                                              
 Operating profit                                                 942              923        
                                                                                              
 Operating profit margin                                          22.0   %         22.1   %   
                                                                                              
 Interest (income) expense, net                                   (5     )         15         
                                                                                              
 Income before income taxes                                       947              908        
                                                                                              
 Provision for income taxes                                       311              283        
                                                                                              
 Effective tax rate                                               32.8   %         31.2   %   
                                                                                              
 Net income including noncontrolling interests                    636              625        
                                                                                              
 Less: Net income attributable to noncontrolling interests        38               35         
                                                                                              
 Net income attributable to Colgate-Palmolive Company         $   598          $   590        
                                                                                              
 Earnings per common share                                                                    
 Basic                                                        $   1.27         $   1.22       
 Diluted                                                      $   1.26         $   1.21       
                                                                                              
 Average common shares outstanding                                                            
 Basic                                                            472.0            483.8      
 Diluted                                                          476.0            487.5      
                                                                                              


 Table 2                                                                                        
                                                                                                
 Colgate-Palmolive Company                                                                      
                                                                                                
 Condensed Consolidated Statements of Income                                                    
                                                                                                
 For the Twelve Months Ended December 31, 2012 and 2011                                         
                                                                                                
 (Dollars in Millions Except Per Share Amounts) (Unaudited)                                     
                                                                                                
                                                              2012              2011            
                                                                                                
 Net sales                                                    $   17,085        $   16,734      
                                                                                                
 Cost of sales                                                    7,153             7,144       
                                                                                                
 Gross profit                                                     9,932             9,590       
                                                                                                
 Gross profit margin                                              58.1    %         57.3    %   
                                                                                                
 Selling, general and administrative expenses                     5,930             5,758       
                                                                                                
 Other (income) expense, net                                      113               (9      )   
                                                                                                
 Operating profit                                                 3,889             3,841       
                                                                                                
 Operating profit margin                                          22.8    %         23.0    %   
                                                                                                
 Interest expense, net                                            15                52          
                                                                                                
 Income before income taxes                                       3,874             3,789       
                                                                                                
 Provision for income taxes                                       1,243             1,235       
                                                                                                
 Effective tax rate                                               32.1    %         32.6    %   
                                                                                                
 Net income including noncontrolling interests                    2,631             2,554       
                                                                                                
 Less: Net income attributable to noncontrolling interests        159               123         
                                                                                                
 Net income attributable to Colgate-Palmolive Company         $   2,472         $   2,431       
                                                                                                
 Earnings per common share                                                                      
 Basic                                                        $   5.19          $   4.98        
 Diluted                                                      $   5.15          $   4.94        
                                                                                                
 Average common shares outstanding                                                              
 Basic                                                            476.1             488.3       
 Diluted                                                          480.1             492.0       
                                                                                                


 Table 3                                                                                                                                                                                         
                                                                                                                                                                                                 
 Colgate-Palmolive Company                                                                                                                                                                       
                                                                                                                                                                                                 
 Condensed Consolidated Balance Sheets                                                                                                                                                           
                                                                                                                                                                                                 
 As of December 31, 2012 and 2011                                                                                                                                                                
                                                                                                                                                                                                 
 (Dollars in Millions) (Unaudited)                                                                                                                                                               
                                                                                                                                                                                                 
                                                                                                                                                                                                 
                                                                                 December 31,                                                    December 31,                                    
                                                                                 2012                                                            2011                                            
                                                                                                                                                                                                 
    Cash and cash equivalents                                                    $               884                                             $               878                             
    Receivables, net                                                                             1,668                                                           1,675                           
    Inventories                                                                                  1,365                                                           1,327                           
    Other current assets                                                                         639                                                             522                             
    Property, plant and equipment, net                                                           3,842                                                           3,668                           
    Other assets, including goodwill and intangibles                                             4,996                                                           4,654                           
    Total assets                                                                 $               13,394                                          $               12,724                          
                                                                                                                                                                                                 
    Total debt                                                                   $               5,230                                           $               4,810                           
    Other current liabilities                                                                    3,432                                                           3,336                           
    Other non-current liabilities                                                                2,342                                                           2,037                           
    Total liabilities                                                                            11,004                                                          10,183                          
    Total Colgate-Palmolive Company shareholders' equity                                         2,189                                                           2,375                           
    Noncontrolling interests                                                                     201                                                             166                             
    Total liabilities and shareholders' equity                                   $               13,394                                          $               12,724                          
                                                                                                                                                                                                 
    Supplemental Balance Sheet Information                                                                                                                                                       
    Debt less cash, cash equivalents and marketable securities*                  $               4,230                                           $               3,860                           
    Working capital % of sales                                                                   0.7             %                                               0.7             %               
                                                                                                                                                                                                 
 *  Marketable securities of $116 and $72 as of December 31, 2012 and 2011, respectively, are included in Other current assets.                                                                  
                                                                                                                                                                                                 


 Table 4                                                                                                                                         
                                                                                                                                                 
 Colgate-Palmolive Company                                                                                                                       
                                                                                                                                                 
 Condensed Consolidated Statements of Cash Flows                                                                                                 
                                                                                                                                                 
 For the Twelve Months Ended December 31, 2012 and 2011                                                                                          
                                                                                                                                                 
 (Dollars in Millions) (Unaudited)                                                                                                               
                                                                                                                                                 
                                                                                                               2012              2011            
                                                                                                                                                 
 Operating Activities                                                                                                                            
 Net income including noncontrolling interests                                                                 $   2,631         $   2,554       
 Adjustments to reconcile net income including noncontrolling interests to net cash provided by operations:                                      
 Depreciation and amortization                                                                                     425               421         
 Restructuring and termination benefits, net of cash                                                               35                103         
 Gain before tax on sales of non-core product lines                                                                -                 (207    )   
 Voluntary benefit plan contributions                                                                              (101    )         (178    )   
 Stock-based compensation expense                                                                                  120               122         
 Deferred income taxes                                                                                             63                88          
 Cash effects of changes in:                                                                                                                     
 Receivables                                                                                                       19                (130    )   
 Inventories                                                                                                       (21     )         (130    )   
 Accounts payable and other accruals                                                                               (5      )         199         
 Other non-current assets and liabilities                                                                          30                54          
 Net cash provided by operations                                                                                   3,196             2,896       
                                                                                                                                                 
 Investing Activities                                                                                                                            
 Capital expenditures                                                                                              (565    )         (537    )   
 Sale of property and non-core product lines                                                                       72                263         
 Purchases of marketable securities and investments                                                                (545    )         (356    )   
 Proceeds from sale of marketable securities and investments                                                       147               423         
 Payment for acquisitions, net of cash acquired                                                                    (29     )         (966    )   
 Other                                                                                                             55                (40     )   
 Net cash used in investing activities                                                                             (865    )         (1,213  )   
                                                                                                                                                 
 Financing Activities                                                                                                                            
 Principal payments on debt                                                                                        (5,011  )         (4,429  )   
 Proceeds from issuance of debt                                                                                    5,452             5,843       
 Dividends paid                                                                                                    (1,277  )         (1,203  )   
 Purchases of treasury shares                                                                                      (1,943  )         (1,806  )   
 Proceeds from exercise of stock options and excess tax benefits                                                   478               353         
 Net cash used in financing activities                                                                             (2,301  )         (1,242  )   
                                                                                                                                                 
 Effect of exchange rate changes on Cash and cash equivalents                                                      (24     )         (53     )   
 Net increase in Cash and cash equivalents                                                                         6                 388         
 Cash and cash equivalents at beginning of period                                                                  878               490         
 Cash and cash equivalents at end of period                                                                    $   884           $   878         
                                                                                                                                                 
 Supplemental Cash Flow Information                                                                                                              
 Free cash flow before dividends (Net cash provided by operations less capital expenditures)                                                     
 Net cash provided by operations                                                                               $   3,196         $   2,896       
 Less: Capital expenditures                                                                                        (565    )         (537    )   
 Free cash flow before dividends                                                                               $   2,631         $   2,359       
                                                                                                                                                 
 Income taxes paid                                                                                             $   1,280         $   1,007       
                                                                                                                                                 


 Table 5                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
 Colgate-Palmolive Company                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
 Segment Information                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
 For the Three and Twelve Months Ended December 31, 2012 and 2011                                                                                                                                                                                                                                                                                                                                                                                                                          
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
 (Dollars in Millions) (Unaudited)                                                                                                                                                                                                                                                                                                                                                                                                                                                         
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
                                                                      Three Months Ended                                                                                                                                                                                                      Twelve Months Ended                                                                                                                                                                          
                                                                      December 31,                                                                                                                                                                                                            December 31,                                                                                                                                                                                 
                                                                      2012                                                                                                        2011                                                                                                        2012                                                                                                        2011                                                                             
       Net sales                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
       Oral, Personal and Home Care                                                                                                                                                                                                                                                                                                                                                                                                                                                        
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
       North America                                                  $                          786                                                                              $                          757                                                                              $                          3,096                                                                            $                          2,995                                                 
       Latin America                                                                             1,223                                                                                                       1,207                                                                                                       4,907                                                                                                       4,778                                                 
       Europe/South Pacific                                                                      848                                                                                                         847                                                                                                         3,417                                                                                                       3,508                                                 
       Greater Asia/Africa                                                                       870                                                                                                         797                                                                                                         3,505                                                                                                       3,281                                                 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
       Total Oral, Personal and Home Care                                                        3,727                                                                                                       3,608                                                                                                       14,925                                                                                                      14,562                                                
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
       Pet Nutrition                                                                             559                                                                                                         564                                                                                                         2,160                                                                                                       2,172                                                 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
       Total Net sales                                                $                          4,286                                                                            $                          4,172                                                                            $                          17,085                                                                           $                          16,734                                                
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
                                                                      Three Months Ended                                                                                                                                                                                                      Twelve Months Ended                                                                                                                                                                          
                                                                      December 31,                                                                                                                                                                                                            December 31,                                                                                                                                                                                 
                                                                      2012                                                                                                        2011                                                                                                        2012                                                                                                        2011                                                                             
       Operating profit                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
       Oral, Personal and Home Care                                                                                                                                                                                                                                                                                                                                                                                                                                                        
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
       North America                                                  $                          236                                                                              $                          192                                                                              $                          834                                                                              $                          791                                                   
       Latin America                                                                             348                                                                                                         364                                                                                                         1,430                                                                                                       1,414                                                 
       Europe/South Pacific                                                                      187                                                                                                         164                                                                                                         747                                                                                                         715                                                   
       Greater Asia/Africa                                                                       215                                                                                                         203                                                                                                         886                                                                                                         807                                                   
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
       Total Oral, Personal and Home Care                                                        986                                                                                                         923                                                                                                         3,897                                                                                                       3,727                                                 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
       Pet Nutrition                                                                             149                                                                                                         152                                                                                                         589                                                                                                         560                                                   
       Corporate(1)                                                                              (193                       )                                                                                (152                       )                                                                                (597                       )                                                                                (446                       )                          
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
       Total Operating profit                                         $                          942                                                                              $                          923                                                                              $                          3,889                                                                            $                          3,841                                                 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
       Note:                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
 (1)   Corporate operations include costs related to stock options and restricted stock awards, research and development costs, Corporate overhead costs, restructuring and related implementation costs and gains and losses on sales of non-core product lines and assets.                                                                                                                                                                                                               
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
       Corporate Operating profit for the three months ended December 31, 2012 includes charges of $89 related to the 2012 Restructuring Program and costs of $4 related to the sale of land in Mexico.                                                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
       Corporate Operating profit for the twelve months ended December 31, 2012 includes charges of $89 related to the 2012 Restructuring Program, costs of $21 associated with global business realignment and other cost-saving initiatives and costs of $24 related to the sale of land in Mexico.                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
       Corporate Operating profit for the three months ended December 31, 2011 included costs of $22 associated with global business realignment and other cost-saving initiatives, costs of $6 related to the sale of land in Mexico and a $21 charge for a competition law matter in France related to a divested detergent business.                                                                                                                                                    
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
       Corporate Operating profit for the twelve months ended December 31, 2011 included a gain on the sale of the Company's non-core laundry detergent business in Colombia of $207, costs of $190 associated with global business realignment and other cost-saving initiatives, costs of $13 related to the sale of land in Mexico and a $21 charge for a competition law matter in France related to a divested detergent business.                                                    
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           


 Table 6                                                                                                                                                 
                                                                                                                                                         
 Colgate-Palmolive Company                                                                                                                               
                                                                                                                                                         
 Geographic Sales Analysis Percentage Changes                                                                                                            
                                                                                                                                                         
 For the Three Months Ended December 31, 2012 vs 2011                                                                                                    
                                                                                                                                                         
 (Unaudited)                                                                                                                                             
                                                                                                                                                         
                                                               COMPONENTS OF SALES CHANGE                                                                
                                                                                                                                                         
                                                                                                                       Pricing                           
                                                                                                                       Coupons                           
                         Sales                                                                                         Consumer &                        
                         Change            Organic             As Reported         Organic         Ex-Divested         Trade               Foreign       
 Region                  As Reported       Sales Change        Volume              Volume          Volume              Incentives          Exchange      
                                                                                                                                                         
 Total Company           2.5     %         4.0      %          1.5     %           1.5   %         1.5     %           2.5     %           (1.5   )%     
                                                                                                                                                         
 Europe/South Pacific    -       %         1.5      %          2.5     %           2.5   %         2.5     %           (1.0    )%          (1.5   )%     
                                                                                                                                                         
 Latin America           1.5     %         4.0      %          (1.5    )%          (1.0  )%        (1.0    )%          5.0     %           (2.0   )%     
                                                                                                                                                         
 Greater Asia/Africa     9.0     %         10.0     %          8.0     %           8.0   %         8.0     %           2.0     %           (1.0   )%     
                                                                                                                                                         
 Total International     3.0     %         5.0      %          2.5     %           2.5   %         2.5     %           2.5     %           (2.0   )%     
                                                                                                                                                         
 North America           4.0     %         3.5      %          1.5     %           1.5   %         1.5     %           2.0     %           0.5    %      
                                                                                                                                                         
 Total CP Products       3.5     %         4.5      %          2.0     %           2.0   %         2.0     %           2.5     %           (1.0   )%     
                                                                                                                                                         
 Hill's                  (1.0    )%        -        %          (2.5    )%          (2.5  )%        (2.5    )%          2.5     %           (1.0   )%     
                                                                                                                                                         
                                                                                                                                                         
 Emerging Markets (1)    4.5     %         6.0      %          2.5     %           2.5   %         2.5     %           3.5     %           (1.5   )%     
                                                                                                                                                         
 Developed Markets       1.0     %         2.0      %          1.0     %           1.0   %         1.0     %           1.0     %           (1.0   )%     
                                                                                                                                                         
 Notes:                                                                                                                                                  
                                                                                                                                                         
 (1) Emerging Markets include Latin America, Greater Asia/Africa (excluding Japan) and Central Europe.                                                   
                                                                                                                                                         


 Table 7                                                                                                                                                     
                                                                                                                                                             
 Colgate-Palmolive Company                                                                                                                                   
                                                                                                                                                             
 Geographic Sales Analysis Percentage Changes                                                                                                                
                                                                                                                                                             
 For the Twelve Months Ended December 31, 2012 vs 2011                                                                                                       
                                                                                                                                                             
 (Unaudited)                                                                                                                                                 
                                                                                                                                                             
                                                                   COMPONENTS OF SALES CHANGE                                                                
                                                                                                                                                             
                                                                                                                           Pricing                           
                                                                                                                           Coupons                           
                             Sales                                                                                         Consumer &                        
                             Change            Organic             As Reported         Organic         Ex-Divested         Trade               Foreign       
 Region                      As Reported       Sales Change        Volume              Volume          Volume              Incentives          Exchange      
                                                                                                                                                             
 Total Company (1) (2)       2.0     %         6.0      %          3.0     %           3.0   %         3.5     %           3.0     %           (4.0   )%     
                                                                                                                                                             
 Europe/South Pacific (1)    (2.5    )%        (0.5     )%         4.0     %           1.0   %         4.0     %           (1.5    )%          (5.0   )%     
                                                                                                                                                             
 Latin America (2)           2.5     %         10.5     %          2.5     %           4.0   %         4.0     %           6.5     %           (6.5   )%     
                                                                                                                                                             
 Greater Asia/Africa (1)     7.0     %         11.0     %          7.5     %           7.0   %         7.5     %           4.0     %           (4.5   )%     
                                                                                                                                                             
 Total International         2.5     %         7.5      %          4.5     %           4.0   %         5.0     %           3.5     %           (5.5   )%     
                                                                                                                                                             
 North America               3.5     %         3.5      %          2.0     %           2.0   %         2.0     %           1.5     %           -      %      
                                                                                                                                                             
 Total CP Products           2.5     %         6.5      %          4.0     %           3.5   %         4.5     %           3.0     %           (4.5   )%     
                                                                                                                                                             
 Hill's                      (0.5    )%        1.5      %          (2.5    )%          (2.5  )%        (2.5    )%          4.0     %           (2.0   )%     
                                                                                                                                                             
                                                                                                                                                             
 Emerging Markets (3)        4.0     %         10.0     %          4.0     %           5.0   %         5.0     %           5.0     %           (5.0   )%     
                                                                                                                                                             
 Developed Markets           0.5     %         1.5      %          2.0     %           0.5   %         2.0     %           1.0     %           (2.5   )%     
                                                                                                                                                             
 Notes:                                                                                                                                                      
                                                                                                                                                             
 (1) The Sanex business was acquired on June 20, 2011.                                                                                                       
 The impact of the Sanex acquisition on twelve months sales and volume was 0.5% for the Total Company, 3.0% for Europe/South Pacific and 0.5% for Greater Asia/Africa. 
                                                                                                                                                             
 (2) The Company's non-core laundry detergent business in Colombia was sold on July 29, 2011.                                                                
 The impact of the sale of the Company's non-core laundry detergent business in Colombia on twelve months sales and volume was 0.5% for the Total Company and 1.5% for Latin America. 
                                                                                                                                                             
 (3) Emerging Markets include Latin America, Greater Asia/Africa (excluding Japan) and Central Europe.                                                       
                                                                                                                                                             


 Table 8                                                                                                                                  
                                                                                                                                          
 Colgate-Palmolive Company                                                                                                                
                                                                                                                                          
 Non-GAAP Reconciliations                                                                                                                 
                                                                                                                                          
 For the Three Months Ended December 31, 2012 and 2011                                                                                    
                                                                                                                                          
 (Dollars in Millions Except Per Share Amounts) (Unaudited)                                                                               
                                                                                                                                          
                                                                                                                                          
                                                                                                                                          
 Gross Profit                                                                           2012             2011                             
 Gross profit, GAAP                                                                     $   2,505        $   2,393                        
 2012 Restructuring Program                                                                 2                -                            
 Costs related to the sale of land in Mexico                                                4                -                            
 Business realignment and other cost-saving initiatives                                     -                16                           
 Gross profit, non-GAAP                                                                 $   2,511        $   2,409                        
                                                                                                                                          
                                                                                                                          Basis Point     
 Gross Profit Margin                                                                    2012             2011             Change          
 Gross profit margin, GAAP                                                                  58.4   %         57.4   %     100             
 2012 Restructuring Program                                                                 0.1    %         -                            
 Costs related to the sale of land in Mexico                                                0.1    %         -                            
 Business realignment and other cost-saving initiatives                                     -                0.3    %                     
 Gross profit margin, non-GAAP                                                              58.6   %         57.7   %     90              
                                                                                                                                          
                                                                                                                                          
 Selling, General and Administrative Expenses                                           2012             2011                             
 Selling, general and administrative expenses, GAAP                                     $   1,487        $   1,444                        
 2012 Restructuring Program                                                                 (6     )         -                            
 Costs related to the sale of land in Mexico                                                -                -                            
 Business realignment and other cost-saving initiatives                                     -                (5     )                     
 Selling, general and administrative expenses, non-GAAP                                 $   1,481        $   1,439                        
                                                                                                                                          
 Selling, General and Administrative Expenses as a Percentage of Net Sales              2012             2011             Basis Point     
                                                                                                                          Change          
 Selling, general and administrative expenses as a percentage of Net sales, GAAP            34.7   %         34.6   %     10              
 2012 Restructuring Program                                                                 (0.1   )%        -                            
 Costs related to the sale of land in Mexico                                                -                -                            
 Business realignment and other cost-saving initiatives                                     -                (0.1   )%                    
 Selling, general and administrative expenses as a percentage of Net sales, non-GAAP        34.6   %         34.5   %     10              
                                                                                                                                          
                                                                                                                                          
 Other (Income) Expense, Net                                                            2012             2011                             
 Other (income) expense, net, GAAP                                                      $   76           $   26                           
 2012 Restructuring Program                                                                 (81    )         -                            
 Costs related to the sale of land in Mexico                                                -                (6     )                     
 Business realignment and other cost-saving initiatives                                     -                (1     )                     
 Charge for a French competition law matter                                                 -                (21    )                     
 Other (income) expense, net, non-GAAP                                                  $   (5     )     $   (2     )                     
                                                                                                                                          
                                                                                                                                          
 Operating Profit                                                                       2012             2011             % Change        
 Operating profit, GAAP                                                                 $   942          $   923          2       %       
 2012 Restructuring Program                                                                 89               -                            
 Costs related to the sale of land in Mexico                                                4                6                            
 Business realignment and other cost-saving initiatives                                     -                22                           
 Charge for a French competition law matter                                                 -                21                           
 Operating profit, non-GAAP                                                             $   1,035        $   972          6       %       
                                                                                                                                          
                                                                                                                          Basis Point     
 Operating Profit Margin                                                                2012             2011             Change          
 Operating profit margin, GAAP                                                              22.0   %         22.1   %     (10     )       
 2012 Restructuring Program                                                                 2.0    %         -                            
 Costs related to the sale of land in Mexico                                                0.1    %         0.2    %                     
 Business realignment and other cost-saving initiatives                                     -                0.5    %                     
 Charge for a French competition law matter                                                 -                0.5    %                     
 Operating profit margin, non-GAAP                                                          24.1   %         23.3   %     80              
                                                                                                                                          
                                                                                                                                          
 Net Income Attributable to Colgate-Palmolive Company                                   2012             2011             % Change        
 Net income attributable to Colgate-Palmolive Company, GAAP                             $   598          $   590          1       %       
 2012 Restructuring Program                                                                 70               -                            
 Costs related to the sale of land in Mexico                                                3                4                            
 Business realignment and other cost-saving initiatives                                     -                19                           
 Charge for a French competition law matter                                                 -                21                           
 Net income attributable to Colgate-Palmolive Company, non-GAAP                         $   671          $   634          6       %       
                                                                                                                                          
                                                                                                                                          
 Earnings Per Common Share, Diluted (1)                                                 2012             2011             % Change        
 Earnings per common share, diluted, GAAP                                               $   1.26         $   1.21         4       %       
 2012 Restructuring Program                                                                 0.14             -                            
 Costs related to the sale of land in Mexico                                                0.01             0.01                         
 Business realignment and other cost-saving initiatives                                     -                0.04                         
 Charge for a French competition law matter                                                 -                0.04                         
 Earnings per common share, diluted, non-GAAP                                           $   1.41         $   1.30         8       %       
                                                                                                                                          
 (1) The impact of non-GAAP adjustments on the diluted earnings per share may not necessarily equal the difference between "GAAP" and "non-GAAP" as a result of rounding. 
                                                                                                                                          


 Table 9                                                                                                                                  
                                                                                                                                          
 Colgate-Palmolive Company                                                                                                                
                                                                                                                                          
 Non-GAAP Reconciliations                                                                                                                 
                                                                                                                                          
 For the Twelve Months Ended December 31, 2012 and 2011                                                                                   
                                                                                                                                          
 (Dollars in Millions Except Per Share Amounts) (Unaudited)                                                                               
                                                                                                                                          
                                                                                                                                          
                                                                                                                                          
 Gross Profit                                                                           2012             2011                             
 Gross profit, GAAP                                                                     $   9,932        $   9,590                        
 2012 Restructuring Program                                                                 2                -                            
 Costs related to the sale of land in Mexico                                                24               -                            
 Business realignment and other cost-saving initiatives                                     5                44                           
 Gross profit, non-GAAP                                                                 $   9,963        $   9,634                        
                                                                                                                                          
                                                                                                                          Basis Point     
 Gross Profit Margin                                                                    2012             2011             Change          
 Gross profit margin, GAAP                                                                  58.1   %         57.3   %     80              
 2012 Restructuring Program                                                                 -                -                            
 Costs related to the sale of land in Mexico                                                0.2    %         -                            
 Business realignment and other cost-saving initiatives                                     -                0.3    %                     
 Gross profit margin, non-GAAP                                                              58.3   %         57.6   %     70              
                                                                                                                                          
                                                                                                                                          
 Selling, General and Administrative Expenses                                           2012             2011                             
 Selling, general and administrative expenses, GAAP                                     $   5,930        $   5,758                        
 2012 Restructuring Program                                                                 (6     )         -                            
 Costs related to the sale of land in Mexico                                                -                -                            
 Business realignment and other cost-saving initiatives                                     (14    )         (10    )                     
 Selling, general and administrative expenses, non-GAAP                                 $   5,910        $   5,748                        
                                                                                                                                          
 Selling, General and Administrative Expenses as a Percentage of Net Sales              2012             2011             Basis Point     
                                                                                                                          Change          
 Selling, general and administrative expenses as a percentage of Net sales, GAAP            34.7   %         34.4   %     30              
 2012 Restructuring Program                                                                 -                -                            
 Costs related to the sale of land in Mexico                                                -                -                            
 Business realignment and other cost-saving initiatives                                     (0.1   )%        (0.1   )%                    
 Selling, general and administrative expenses as a percentage of Net sales, non-GAAP        34.6   %         34.3   %     30              
                                                                                                                                          
                                                                                                                                          
 Other (Income) Expense, Net                                                            2012             2011                             
 Other (income) expense, net, GAAP                                                      $   113          $   (9     )                     
 2012 Restructuring Program                                                                 (81    )         -                            
 Costs related to the sale of land in Mexico                                                -                (13    )                     
 Business realignment and other cost-saving initiatives                                     (2     )         (136   )                     
 Gain on sale of non-core laundry detergent business in Colombia                            -                207                          
 Charge for a French competition law matter                                                 -                (21    )                     
 Other (income) expense, net, non-GAAP                                                  $   30           $   28                           
                                                                                                                                          
                                                                                                                                          
 Operating Profit                                                                       2012             2011             % Change        
 Operating profit, GAAP                                                                 $   3,889        $   3,841        1       %       
 2012 Restructuring Program                                                                 89               -                            
 Costs related to the sale of land in Mexico                                                24               13                           
 Business realignment and other cost-saving initiatives                                     21               190                          
 Gain on sale of non-core laundry detergent business in Colombia                            -                (207   )                     
 Charge for a French competition law matter                                                 -                21                           
 Operating profit, non-GAAP                                                             $   4,023        $   3,858        4       %       
                                                                                                                                          
                                                                                                                          Basis Point     
 Operating Profit Margin                                                                2012             2011             Change          
 Operating profit margin, GAAP                                                              22.8   %         23.0   %     (20     )       
 2012 Restructuring Program                                                                 0.5    %         -                            
 Costs related to the sale of land in Mexico                                                0.1    %         0.1    %                     
 Business realignment and other cost-saving initiatives                                     0.1    %         1.1    %                     
 Gain on sale of non-core laundry detergent business in Colombia                            -                (1.2   )%                    
 Charge for a French competition law matter                                                 -                0.1    %                     
 Operating profit margin, non-GAAP                                                          23.5   %         23.1   %     40              
                                                                                                                                          
                                                                                                                                          
 Net Income Attributable to Colgate-Palmolive Company                                   2012             2011             % Change        
 Net income attributable to Colgate-Palmolive Company, GAAP                             $   2,472        $   2,431        2       %       
 2012 Restructuring Program                                                                 70               -                            
 Costs related to the sale of land in Mexico                                                18               9                            
 Business realignment and other cost-saving initiatives                                     14               147                          
 Gain on sale of non-core laundry detergent business in Colombia                            -                (135   )                     
 Charge for a French competition law matter                                                 -                21                           
 Net income attributable to Colgate-Palmolive Company, non-GAAP                         $   2,574        $   2,473        4       %       
                                                                                                                                          
                                                                                                                                          
 Earnings Per Common Share, Diluted (1)                                                 2012             2011             % Change        
 Earnings per common share, diluted, GAAP                                               $   5.15         $   4.94         4       %       
 2012 Restructuring Program                                                                 0.14             -                            
 Costs related to the sale of land in Mexico                                                0.04             0.02                         
 Business realignment and other cost-saving initiatives                                     0.03             0.30                         
 Gain on sale of non-core laundry detergent business in Colombia                            -                (0.27  )                     
 Charge for a French competition law matter                                                 -                0.04                         
 Earnings per common share, diluted, non-GAAP                                           $   5.36         $   5.03         7       %       
                                                                                                                                          
 (1) The impact of non-GAAP adjustments on the diluted earnings per share may not necessarily equal the difference between "GAAP" and "non-GAAP" as a result of rounding. 


Colgate-Palmolive Company
Bina Thompson, 212-310-3072
Hope Spiller, 212-310-2291 

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