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Colgate Announces 1st Quarter 2013 Results

  Colgate Announces 1st Quarter 2013 Results

                    Strong Organic Sales Growth Worldwide

Business Wire

NEW YORK -- April 25, 2013

Colgate-Palmolive Company (NYSE:CL) today reported worldwide Net sales of
$4,315 million in first quarter 2013, an increase of 2.5% versus first quarter
2012. Global unit volume grew 4.0%, pricing increased 1.5% and foreign
exchange was negative 3.0%. Organic sales (Net sales excluding foreign
exchange, acquisitions and divestments) grew 6.0%.

Net income and Diluted earnings per share in first quarter 2013 were $460
million and $0.97, respectively. Net income in first quarter 2013 included a
one-time aftertax charge of $111 million ($0.23 per diluted share) related to
the remeasurement of the Venezuelan balance sheet as a result of the currency
devaluation on February 9, 2013. Net income in first quarter 2013 also
included $55 million ($0.12 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 first quarter 2012 were $593
million and $1.23, respectively. As previously disclosed, Net income in first
quarter 2012 included aftertax charges of $8 million ($0.01 per diluted share)
resulting from the items described in Table 6.

Excluding the above noted items in both periods, Net income in first quarter
2013 was $626 million, an increase of 4% versus first quarter 2012, and
Diluted earnings per share in first quarter 2013 was $1.32, an increase of 6%
versus first quarter 2012.

Gross profit margin was 58.3% in first quarter 2013 versus 58.0% in the year
ago quarter. Excluding the above noted items in both periods, Gross profit
margin was 58.6% in first quarter 2013, an increase of 40 basis points versus
the year ago quarter, as higher pricing and cost savings from the Company’s
funding-the-growth initiatives more than offset higher raw and packaging
material costs and the impact of the sale of higher cost inventory on hand in
Venezuela prior to the devaluation.

Selling, general and administrative expenses were 35.6% of Net sales in first
quarter 2013 versus 35.2% in first quarter 2012. Excluding the above noted
items in both periods, Selling, general and administrative expenses increased
by 40 basis points to 35.4% of Net sales in first quarter 2013, as advertising
investment increased by 20 basis points and overhead expenses increased by 20
basis points primarily due to increased investment in customer development
initiatives. Worldwide advertising investment on an absolute basis increased
5% versus the year ago quarter to $471 million.

Operating profit decreased 21% to $742 million in first quarter 2013 compared
to $938 million in first quarter 2012. Excluding the above noted items in both
periods, Operating profit increased 4% to $985 million.

Net cash provided by operations increased 17% to $777 million in the first
quarter of 2013, compared to $662 million in the comparable 2012 period. 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 (Net cash provided by operations
less Capital expenditures) exceeded 100% of Net income. Working capital as a
percentage of Net sales improved to negative 0.5% versus negative 0.1% in the
year ago period.

Ian Cook, Chairman, President and Chief Executive Officer, commented on the
results and outlook excluding the 2013 and 2012 items noted above, “We are
very pleased to begin the year with strong top and bottom line growth,
building on the growth momentum we saw in 2012. Gross profit margin, operating
profit margin and net income as a percent of sales all increased versus the
year ago period.

“The excellent 6.0% organic sales growth was well balanced between solid unit
volume gains and higher pricing worldwide. All operating divisions achieved
positive organic sales growth in the quarter, led by the emerging markets
where organic sales grew a robust 9.5%.

“Advertising investment increased versus year ago, both absolutely and as a
percent to sales, and we continue to plan for higher levels of commercial
investment in the balance of the year in support of a very full pipeline of
new products 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 45.6% year to date, up 0.1 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 33.4% year to
date, up 0.4 share points versus year ago.

“Looking forward, we expect our growth momentum to continue as we progress
through the year. 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 strong organic sales growth and
gross margin expansion in 2013. In light of the ongoing impact of the
Venezuela currency devaluation in 2013, which we still expect to be $0.05 to
$0.07 per quarter, we continue to expect diluted earnings per share to grow
5.5% to 6.5% for the year, on a dollar basis.”

At 11:00 a.m. ET today, Colgate will host a conference call to elaborate on
first 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 first quarter 2013
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 5.5% in first quarter 2013. Unit volume
increased 3.5% with 2.0% higher pricing and foreign exchange was even with the
year ago quarter. Organic sales increased 5.5% during the quarter.

Operating profit in North America increased 22% in the first quarter of 2013
to $215 million, or 28.1% of Net sales.This increase in Operating profit was
due to an increase in Gross profit, which was partially offset by an increase
in Selling, general and administrative expenses, both as a percentage of Net
sales. This increase in Gross profit was mainly driven by lower raw and
packaging material costs and savings from the Company’s funding-the-growth
initiatives. This increase in Selling, general and administrative expenses was
due to higher advertising investment, which was partially offset by lower
overhead costs.

In the U.S., new product launches are contributing to volume growth across
categories. Market share gains year to date were seen in manual toothbrushes,
powered toothbrushes, mouthwash, body washes and fabric conditioners. In
toothpaste, the success of Colgate Optic White and Colgate Optic White Dual
Action toothpastes helped drive market share for the Optic White brand to 5.7%
year to date, up 1.3 share points versus year ago. In manual toothbrushes,
Colgate’s market share reached a record 37.1% year to date, up 0.3 share
points versus year ago, driven by the success of Colgate 360° Optic White,
Colgate 360° Total Advanced Floss Tip bristles and Colgate Extra Clean manual
toothbrushes.

Successful new products driving volume growth in the U.S. in other categories
include Colgate Optic White mouthwash, Softsoap brand Acai Berry & Tropical
Water and Softsoap brand Coconut Island Quench body washes, Irish Spring Deep
Action Scrub bar soap, Softsoap brand Antibacterial liquid hand soap,
Palmolive Lotus Blossom & Lavender and Ajax with Aloe dish liquids and
Suavitel Silky Essence fabric conditioner.

Exciting new products launching in second quarter 2013 include Colgate Total
Advanced Pro-Shield mouthwash, an important addition to the Colgate Total oral
care regimen. The launch will be supported by an integrated marketing campaign
featuring television personality Kelly Ripa as the new spokesperson for the
Colgate Total brand.

Latin America (28% of Company Sales)

Latin America Net sales increased 1.0% in first quarter 2013. Unit volume
increased 5.5% with 3.0% higher pricing and 7.5% negative foreign exchange.
Volume gains were led by Mexico, Brazil, Venezuela and the Southern Cone
region. Organic sales for Latin America increased 9.0% during the quarter.

Operating profit in Latin America decreased 11% in the first quarter of 2013
to $312 million, or 25.7% 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 is due to higher costs in Venezuela primarily associated with
charging Cost of sales, as required, with the historical U.S. dollar cost of
inventory acquired prior to the devaluation. This increase in Selling, general
and administrative expenses was primarily due to higher costs in Venezuela due
to inflation.

Colgate’s strong leadership in oral care throughout Latin America continued
during the quarter with year-to-date toothpaste market share gains in Brazil,
Chile, Uruguay, the Dominican Republic and Puerto Rico. Strong sales of
Colgate Luminous White toothpaste drove volume growth throughout the region.
Colgate strengthened its leadership of the manual toothbrush market throughout
the region, driven by strong sales of 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 include Protex
Men and Palmolive Naturals Pomegranate bar soaps, Speed Stick DNA and Lady
Speed Stick Neutro deodorants, Axion dish liquid and the relaunch of Suavitel
Good Bye Ironing fabric conditioner.

Europe/South Pacific (20% of Company Sales)

Europe/South Pacific Net sales in first quarter 2013 decreased 0.5%. Unit
volume and pricing were even with the year ago period and foreign exchange was
negative 0.5%. Volume gains in Australia, Holland and Germany more than offset
volume declines in Greece and the United Kingdom. Organic sales for
Europe/South Pacific increased 0.5%.

Operating profit in Europe/South Pacific increased 9% in the first quarter of
2013 to $200 million, or 23.6% 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. This decrease in Selling, general and administrative expenses was
driven by higher advertising investment which was more than offset by lower
overhead expenses.

Colgate strengthened its oral care leadership in the Europe/South Pacific
region with toothpaste share gains led by France, Italy, Netherlands, Czech
Republic, Croatia and Bulgaria. Successful premium products driving share
gains include Colgate Total Pro Gum Health, Colgate Total Interdental, elmex
Sensitive and Colgate Max White One Fresh toothpastes. In the manual
toothbrush category, Colgate 360° Max White One manual toothbrush contributed
to growth throughout the region.

Recent premium innovations contributing to volume growth in other product
categories include Colgate Max White One, Colgate Total Pro Gum Health and
Colgate Plax Complete Care mouthwashes, Colgate ProClinical electric
toothbrush, Sanex Zero% deodorant, Palmolive Ayurituel shower gels and liquid
hand soaps, Ajax Pure Home liquid cleaner and Soupline Aroma Sensations fabric
conditioner.

Greater Asia/Africa (22% of Company Sales)

Greater Asia/Africa Net sales and unit volume increased 8.5% and 11.0%,
respectively, during first quarter 2013. Volume gains were led by India,
Russia, the Greater China region, Turkey, the Philippines and South Africa.
Pricing decreased 1.0% and foreign exchange was negative 1.5%. Organic sales
for Greater Asia/Africa increased 10.0%.

Operating profit in Greater Asia/Africa increased 13% in the first quarter of
2013 to $248 million, or 26.0% of Net sales. This increase in Operating profit
was a result of an increase in Gross profit which was partially offset by an
increase in Selling, general and administrative expenses, both as a percentage
of Net sales.This increase in Gross profit was due to cost savings from the
Company’s funding-the-growth initiatives, partially offset by lower
pricing.This increase in Selling, general and administrative expenses was
driven by higher advertising investment and increased investment in customer
development initiatives.

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

Successful products contributing to volume 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 (12% of Company Sales)

Hill’s Net sales decreased 1.5% during first quarter 2013. Unit volume
decreased 3.0%, pricing increased 3.5% and foreign exchange was negative 2.0%.
Volume declines in the U.S., Europe and Japan were partially offset by volume
gains in Russia, Canada, Australia and Brazil. Hill’s organic sales increased
0.5%.

Hill’s Operating profit decreased 8% in the first quarter of 2013 to $136
million, or 25.5% 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 driven by higher raw and packaging material costs, which were
partially offset by higher pricing and cost savings from the Company’s
funding-the-growth initiatives. This increase in Selling, general and
administrative expenses was primarily due to increased investment in customer
development initiatives.

New product introductions contributing to sales in the U.S. include Hill’s
Ideal Balance Canine and Feline, with natural ingredients perfectly balanced,
Prescription Diet Canine and Feline Metabolic Advanced Weight Solution,
Prescription Diet i/d Canine Low Fat GI Restore, specially formulated to help
manage gastrointestinal disorders, and the relaunch of Science Diet Canine and
Feline with upgraded meat first, 100% natural ingredients and improved package
design.

New pet food products contributing to international sales include reformulated
Science Plan Adult and Mature Adult Canine and Feline with improved taste,
reformulated Prescription Diet j/d Canine with improved taste, Prescription
Diet Canine and Feline Metabolic Advanced Weight Solution 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

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

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, 2012) 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, as applicable, excluding charges
resulting from the implementation of the 2012 Restructuring Program, the
one-time charge resulting from the Venezuela devaluation, costs related to the
sale of land in Mexico and costs associated with various business realignment
and other cost-saving initiatives (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 months ended March 31, 2013 and 2012
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 months ended March 31, 2013 vs 2012 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 three months ended March 31, 2013 and 2012
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 first quarter results.)

                                                   
                                                                   Table 1
                                                                     
Colgate-Palmolive Company
                                                                     
Condensed Consolidated Statements of Income
                                                                     
For the Three Months Ended March 31, 2013 and 2012
                                                                     
(Dollars in Millions Except Per Share Amounts) (Unaudited)
                                                                     
                                                       2013          2012
                                                                     
Net sales                                              $ 4,315       $ 4,200
                                                                     
Cost of sales                                            1,800         1,763
                                                                     
Gross profit                                             2,515         2,437
                                                                     
Gross profit margin                                      58.3  %       58.0  %
                                                                     
Selling, general and administrative expenses             1,536         1,478
                                                                     
Other expense, net                                       237           21
                                                                     
Operating profit                                         742           938
                                                                     
Operating profit margin                                  17.2  %       22.3  %
                                                                     
Interest (income) expense, net                           (3    )       10
                                                                     
Income before income taxes                               745           928
                                                                     
Provision for income taxes                               239           295
                                                                     
Effective tax rate                                       32.1  %       31.8  %
                                                                     
Net income including noncontrolling interests            506           633
                                                                     
Less: Net income attributable to noncontrolling          46            40
interests
                                                                     
Net income attributable to Colgate-Palmolive           $ 460         $ 593
Company
                                                                     
Earnings per common share
Basic                                                  $ 0.98        $ 1.24
Diluted                                                $ 0.97        $ 1.23
                                                                     
Average common shares outstanding
Basic                                                    468.3         480.1
Diluted                                                  472.5         483.9
                                                                             

                                                               
                                                                        Table
                                                                         2

Colgate-Palmolive Company
                                                                         
Condensed Consolidated Balance Sheets
                                                                         
As of March 31, 2013, December 31, 2012 and March 31, 2012
                                                                         
(Dollars in Millions) (Unaudited)
                                                                         
                                                                         
                            March 31,       December       March 31,
                                            31,
                            2013            2012           2012
                                                                         
Cash and cash               $ 932           $ 884          $ 1,044
equivalents
Receivables, net              1,808           1,668          1,827
Inventories                   1,371           1,365          1,400
Other current                 717             639            578
assets
Property, plant and           3,820           3,842          3,702
equipment, net
Other assets,
including goodwill           4,885         4,996        4,703  
and intangibles
Total assets                $ 13,533       $ 13,394      $ 13,254 
                                                                         
Total debt                  $ 5,357         $ 5,230        $ 4,967
Other current                 3,829           3,432          3,735
liabilities
Other non-current            2,328         2,342        2,056  
liabilities
Total liabilities             11,514          11,004         10,758
Total
Colgate-Palmolive
Company                       1,772           2,189          2,290
shareholders'
equity
Noncontrolling               247           201          206    
interests
Total liabilities
and shareholders'           $ 13,533       $ 13,394      $ 13,254 
equity
                                                                         
Supplemental
Balance Sheet
Information
Debt less cash,
cash equivalents            $ 4,261         $ 4,230        $ 3,841
and marketable
securities*
Working capital %             (0.5   )%       0.7    %       (0.1   )%
of sales
                                                                         


* Marketable securities of $164, $116 and $82 as of March 31, 2013, December
  31, 2012 and March 31, 2012, respectively, are included
  in Other current assets.


                                                              
                                                                    Table 3
                                                                    
Colgate-Palmolive Company
                                                                    
Condensed Consolidated Statements of Cash Flows
                                                                    
For the Three Months Ended March 31, 2013 and 2012
                                                                    
(Dollars in Millions) (Unaudited)
                                                                    
                                                     2013           2012
                                                                    
Operating Activities
Net income including noncontrolling interests        $ 506          $ 633
Adjustments to reconcile net income including
noncontrolling interests to net cash provided
by operations:
Depreciation and amortization                          110            106
Restructuring and termination benefits, net of         30             (17    )
cash
Stock-based compensation expense                       32             29
Venezuela devaluation charge                           172            -
Deferred income taxes                                  (17    )       22
Cash effects of changes in:
Receivables                                            (175   )       (90    )
Inventories                                            (15    )       (38    )
Accounts payable and other accruals                    112            (35    )
Other non-current assets and liabilities              22           52     
Net cash provided by operations                        777            662
                                                                    
Investing Activities
Capital expenditures                                   (94    )       (60    )
Purchases of marketable securities and                 (199   )       (51    )
investments
Proceeds from sale of marketable securities            54             32
and investments
Other                                                 7            38     
Net cash used in investing activities                  (232   )       (41    )
                                                                    
Financing Activities
Principal payments on debt                             (1,436 )       (1,013 )
Proceeds from issuance of debt                         1,553          1,183
Dividends paid                                         (290   )       (278   )
Purchases of treasury shares                           (385   )       (463   )
Proceeds from exercise of stock options and           96           106    
excess tax benefits
Net cash used in financing activities                  (462   )       (465   )
                                                                    
Effect of exchange rate changes on Cash and           (35    )      10     
cash equivalents
Net increase in Cash and cash equivalents              48             166
Cash and cash equivalents at beginning of             884          878    
period
Cash and cash equivalents at end of period           $ 932         $ 1,044  
                                                                    
Supplemental Cash Flow Information
Free cash flow before dividends (Net cash
provided by operations less Capital
expenditures)
Net cash provided by operations                      $ 777          $ 662
Less: Capital expenditures                            (94    )      (60    )
Free cash flow before dividends                      $ 683         $ 602    
                                                                    
                                                                    
Income taxes paid                                    $ 182          $ 223
                                                                    

                                                 Table 4

Colgate-Palmolive Company
                                                       
Segment Information
                                                       
For the Three Months Ended March 31, 2013 and 2012
                                                       
(Dollars in Millions) (Unaudited)
                                                       
                                                       
                                         Three Months Ended
                                         March 31,
                                         2013          2012
Net sales
Oral, Personal and Home Care
                                                       
North America                            $ 764         $ 724
Latin America                              1,214         1,201
Europe/South Pacific                       848           854
Greater Asia/Africa                       955         879   
                                                       
Total Oral, Personal and Home Care         3,781         3,658
                                                       
Pet Nutrition                             534         542   
                                                       
Total Net sales                          $ 4,315      $ 4,200 
                                                       
                                                       
                                         Three Months Ended
                                         March 31,
                                         2013          2012
Operating profit
Oral, Personal and Home Care
                                                       
North America                            $ 215         $ 177
Latin America                              312           350
Europe/South Pacific                       200           183
Greater Asia/Africa                       248         220   
                                                       
Total Oral, Personal and Home Care         975           930
                                                       
Pet Nutrition                              136           148
Corporate^(1)                             (369  )      (140  )
                                                       
Total Operating profit                   $ 742        $ 938   


Note:
       Corporate operations include costs related to stock options and
^(1)  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.
       
       For the three months ended March 31, 2013, Corporate Operating profit
       (loss) includes charges of $66 associated with the 2012 Restructuring
       Program, a one-time $172 charge for the impact of the devaluation in
       Venezuela and costs of $5 related to the sale of land in Mexico.
       
       For the three months ended March 31, 2012, Corporate Operating profit
       (loss) includes costs of $7 related to the sale of land in Mexico and
       $5 associated with various business realignment and other cost-saving
       initiatives.



                                                                                      Table 5
                                                                                                     
Colgate-Palmolive Company
                                                                                                     
Geographic Sales Analysis Percentage Changes
                                                                                                     
For the Three Months Ended March 31, 2013 vs 2012
                                                                                                     
(Unaudited)
                                                                                                     
                                                                                                     
                                                                                                     
                                             COMPONENTS OF SALES CHANGE
                                                                                                     
                                                                                      Pricing
                                                                                      Coupons
                    Sales                                                             Consumer &
                    Change       Organic     As           Organic     Ex-Divested     Trade          Foreign
                                             Reported
Region              As           Sales       Volume       Volume      Volume          Incentives     Exchange
                    Reported     Change
                                                                                                     
Total Company       2.5   %      6.0   %     4.0   %      4.5  %      4.5    %        1.5    %       (3.0  )%
                                                                                                     
Europe/South        (0.5  )%     0.5   %     -           0.5  %      0.5    %        -             (0.5  )%
Pacific
                                                                                                     
Latin America       1.0   %      9.0   %     5.5   %      6.0  %      6.0    %        3.0    %       (7.5  )%
                                                                                                     
Greater             8.5   %      10.0  %     11.0  %      11.0 %      11.0   %        (1.0   )%      (1.5  )%
Asia/Africa
                                                                                                     
Total               3.0   %      7.0   %     5.5   %      6.0  %      6.0    %        1.0    %       (3.5  )%
International
                                                                                                     
North America       5.5   %      5.5   %     3.5   %      3.5  %      3.5    %        2.0    %       -     
                                                                                                     
Total CP            3.5   %      6.5   %     5.5   %      5.5  %      5.5    %        1.0    %       (3.0  )%
Products
                                                                                                     
Hill's              (1.5  )%     0.5   %     (3.0  )%     (3.0 )%     (3.0   )%       3.5    %       (2.0  )%
                                                                                                     
                                                                                                     
Emerging            4.0   %      9.5   %     7.5   %      8.0  %      8.0    %        1.5    %       (5.0  )%
Markets ^(1)
                                                                                                     
Developed           1.0   %      2.0   %     0.5   %      0.5  %      0.5    %        1.5    %       (1.0  )%
Markets



Notes:

^(1) Emerging Markets include Latin America, Greater Asia/Africa (excluding
Japan) and Central Europe.


                                                         
                                                                   Table 6

Colgate-Palmolive Company
                                                                   
Non-GAAPReconciliations
                                                                   
For the Three Months Ended March 31, 2013 and 2012
                                                                   
(Dollars in Millions Except Per Share Amounts) (Unaudited)
                                                                   
                                                                   
Gross Profit                         2013           2012
Gross profit, GAAP                   $ 2,515        $ 2,437
2012 Restructuring Program             8              -
Costs related to the sale              4              7
of land in Mexico
Business realignment and
other cost-saving                     -            2     
initiatives
Gross profit, non-GAAP               $ 2,527       $ 2,446 
                                                                   
                                                                   Basis Point
Gross Profit Margin                  2013           2012           Change
Gross profit margin, GAAP              58.3  %        58.0  %      30
2012 Restructuring Program             0.2   %        -
Costs related to the sale              0.1   %        0.2   %
of land in Mexico
Business realignment and
other cost-saving                     -            -           
initiatives
Gross profit margin,                  58.6  %       58.2  %      40       
non-GAAP
                                                                   
                                                                   
Selling, General and                 2013           2012
Administrative Expenses
Selling, general and
administrative expenses,             $ 1,536        $ 1,478
GAAP
2012 Restructuring Program             (8    )        -
Business realignment and
other cost-saving                     -            (7    )
initiatives
Selling, general and
administrative expenses,             $ 1,528       $ 1,471 
non-GAAP
                                                                   
                                                                   Basis Point
Selling, General and
Administrative Expenses as           2013           2012           Change
a Percentage of Net Sales
Selling, general and
administrative expenses as             35.6  %        35.2  %      40
a percentage of Net sales,
GAAP
2012 Restructuring Program             (0.2  )%       -
Business realignment and
other cost-saving                     -            (0.2  )%     
initiatives
Selling, general and
administrative expenses as            35.4  %       35.0  %      40       
a percentage of Net sales,
non-GAAP
                                                                   
                                                                   
Other (Income) Expense,              2013           2012
Net
Other (income) expense,              $ 237          $ 21
net, GAAP
2012 Restructuring Program             (50   )        -
Venezuela devaluation                  (172  )        -
charge
Costs related to the sale              (1    )        -
of land in Mexico
Business realignment and
other cost-saving                     -            4     
initiatives
Other (income) expense,              $ 14          $ 25    
net, non-GAAP
                                                                   
                                                                   
Operating Profit                     2013           2012           % Change 
Operating profit, GAAP               $ 742          $ 938          (21      )%
2012 Restructuring Program             66             -
Venezuela devaluation                  172            -
charge
Costs related to the sale              5              7
of land in Mexico
Business realignment and
other cost-saving                     -            5           
initiatives
Operating profit, non-GAAP           $ 985         $ 950         4        %
                                                                   
                                                                   Basis Point
Operating Profit Margin              2013           2012           Change
Operating profit margin,               17.2  %        22.3  %      (510     )
GAAP
2012 Restructuring Program             1.5   %        -
Venezuela devaluation                  4.0   %        -
charge
Costs related to the sale              0.1   %        0.2   %
of land in Mexico
Business realignment and
other cost-saving                     -            0.1   %      
initiatives
Operating profit margin,              22.8  %       22.6  %      20       
non-GAAP
                                                                   
                                                                   
Net Income Attributable to           2013           2012           % Change 
Colgate-Palmolive Company
Net income attributable to
Colgate-Palmolive Company,           $ 460          $ 593          (22      )%
GAAP
2012 Restructuring Program             52             -
Venezuela devaluation                  111            -
charge
Costs related to the sale              3              5
of land in Mexico
Business realignment and
other cost-saving                     -            3           
initiatives
Net income attributable to
Colgate-Palmolive Company,           $ 626         $ 601         4        %
non-GAAP
                                                                   
                                                                   
Earnings Per Common Share,           2013           2012           % Change 
Diluted ^ (1)
Earnings per common share,           $ 0.97         $ 1.23         (21      )%
diluted, GAAP
2012 Restructuring Program             0.11           -
Venezuela devaluation                  0.23           -
charge
Costs related to the sale              0.01           0.01
of land in Mexico
Business realignment and
other cost-saving                     -            -           
initiatives
Earnings per common share,           $ 1.32        $ 1.24        6        %
diluted, non-GAAP
                                                                   


^(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.


Contact:

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