Colgate Palmolive Co: Form 10-Q for the period ended Mar 31, 2023
Filed with the SEC on Apr 28, 2023 and accepted by EDGAR at Apr 28, 2023, 08:34 ET.
Management's discussion and analysis
As filed, 1,953 characters, with its headings, lists and tables. Extracted from the main document; charts and exhibits are in the original on sec.gov.
On March 10, 2022, the Board authorized the repurchase of shares of the Company’s common stock having an aggregate purchase price of up to $5 billion under a new share repurchase program (the “2022 Program”), which replaced a previously authorized share repurchase program. The Board also has authorized share repurchases on an ongoing basis to fulfill certain requirements of the Company’s compensation and benefit programs. The shares are repurchased from time to time in open market or privately negotiated transactions at the Company’s discretion, subject to market conditions, customary blackout periods and other factors.
The following table shows the stock repurchase activity for the three months in the quarter ended March 31, 2023:
| Month | Total Number of Shares Purchased(1) | Average Price Paid per Share | Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs(2) | Approximate Dollar Value of Shares That May Yet Be Purchased Under the Plans or Programs(3) (in millions) |
|---|---|---|---|---|
| January 1 through 31, 2023 | 1,312 | $76.13 | — | $3,989 |
| February 1 through 28, 2023 | 79,710 | $72.96 | — | $3,989 |
| March 1 through 31, 2023 | 2,626,777 | $72.89 | 2,624,197 | $3,798 |
| Total | 2,707,799 | $72.89 | 2,624,197 |
(1) Includes share repurchases under the 2022 Program and those associated with certain employee elections under the Company’s compensation and benefit programs.
(2) The difference between the total number of shares purchased and the total number of shares purchased as part of publicly announced plans or programs is 83,602 shares, which represents shares deemed surrendered to the Company to satisfy certain employee elections under the Company’s compensation and benefit programs.
(3) Includes approximate dollar value of shares that were available to be purchased under the publicly announced plans or programs that were in effect as of March 31, 2023.
Risk factors
As filed, 186 characters, with its headings, lists and tables. Extracted from the main document; charts and exhibits are in the original on sec.gov.
There have been no material changes from the risk factors disclosed in “Risk Factors” in Part 1, Item 1A of the Company’s Annual Report on Form 10-K for the year ended December 31, 2022.
Figures reported in this filing
Standardized line items from the XBRL in this filing, for the period ended 2023-03-31. Comparative periods it repeats are left out.
| Line item | Period | Value | XBRL concept |
|---|---|---|---|
| Revenue | 3 months2023-01-01 to 2023-03-31 | $4.77bn | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax |
| Cost of revenue | 3 months2023-01-01 to 2023-03-31 | $2.06bn | us-gaap:CostOfRevenue |
| Gross profit | 3 months2023-01-01 to 2023-03-31 | $2.71bn | us-gaap:GrossProfit |
| Selling, general and administrative | 3 months2023-01-01 to 2023-03-31 | $1.76bn | us-gaap:SellingGeneralAndAdministrativeExpense |
| Operating income | 3 months2023-01-01 to 2023-03-31 | $909.0m | us-gaap:OperatingIncomeLoss |
| Income tax | 3 months2023-01-01 to 2023-03-31 | $147.0m | us-gaap:IncomeTaxExpenseBenefit |
| Net income | 3 months2023-01-01 to 2023-03-31 | $372.0m | us-gaap:NetIncomeLoss |
| Diluted EPS | 3 months2023-01-01 to 2023-03-31 | $0.45 | us-gaap:EarningsPerShareDiluted |
| Basic EPS | 3 months2023-01-01 to 2023-03-31 | $0.45 | us-gaap:EarningsPerShareBasic |
| Diluted shares (weighted) | 3 months2023-01-01 to 2023-03-31 | 833,000,000 shares | us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding |
| Operating cash flow | 3 months2023-01-01 to 2023-03-31 | $735.0m | us-gaap:NetCashProvidedByUsedInOperatingActivities |
| Capital expenditure | 3 months2023-01-01 to 2023-03-31 | $163.0m | us-gaap:PaymentsToAcquireProductiveAssets |
| Share repurchases | 3 months2023-01-01 to 2023-03-31 | $180.0m | us-gaap:PaymentsForRepurchaseOfCommonStock |
| Cash and equivalents | At period end2023-03-31 | $867.0m | us-gaap:CashAndCashEquivalentsAtCarryingValue |
| Current assets | At period end2023-03-31 | $5.47bn | us-gaap:AssetsCurrent |
| Total assets | At period end2023-03-31 | $16.17bn | us-gaap:Assets |
| Current liabilities | At period end2023-03-31 | $4.44bn | us-gaap:LiabilitiesCurrent |
| Total liabilities | At period end2023-03-31 | $15.75bn | us-gaap:Liabilities |
| Long-term debt | At period end2023-03-31 | $8.87bn | us-gaap:LongTermDebtNoncurrent |
| Current portion of debt | At period end2023-03-31 | $15.0m | us-gaap:LongTermDebtCurrent |
| Shareholders' equity | At period end2023-03-31 | −$6.0m | us-gaap:StockholdersEquity |
| Shares outstanding | At period end2023-03-31 | 829,568,199 shares | dei:EntityCommonStockSharesOutstanding |
Source: SEC EDGAR, the filing index for accession 0000021665-23-000016. Last ingested by Listed: Nov 10, 2026, 01:53 ET. Listed shows no prices and gives no investment advice.