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Analysis of Income Taxes
- Income Tax Expense (Benefit)
- Effective Income Tax Rate (EITR)
- Components of Deferred Tax Assets and Liabilities
- Deferred Tax Assets and Liabilities, Classification
- Adjustments to Financial Statements: Removal of Deferred Taxes
- Adjusted Financial Ratios: Removal of Deferred Taxes (Summary)
- Adjusted Current Ratio
- Adjusted Net Profit Margin
- Adjusted Total Asset Turnover
- Adjusted Financial Leverage
- Adjusted Return on Equity (ROE)
- Adjusted Return on Assets (ROA)
Income Tax Expense (Benefit)
Colgate-Palmolive Co., income tax expense (benefit), continuing operations
US$ in millions
12 months ended: | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | ||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Current tax provision | |||||||||||
Deferred tax provision (benefit) | |||||||||||
Provision for income taxes |
Based on: 10-K (filing date: 2020-02-21), 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-15), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-02-18).
Item | Description | The company |
---|---|---|
Current tax provision | Amount of current income tax expense (benefit) pertaining to taxable income (loss) from continuing operations. | Colgate-Palmolive Co.’s current tax provision decreased from 2017 to 2018 and from 2018 to 2019. |
Deferred tax provision (benefit) | Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations. | Colgate-Palmolive Co.’s deferred tax provision (benefit) decreased from 2017 to 2018 and from 2018 to 2019. |
Provision for income taxes | Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. | Colgate-Palmolive Co.’s provision for income taxes decreased from 2017 to 2018 and from 2018 to 2019. |
Effective Income Tax Rate (EITR)
Colgate-Palmolive Co., effective income tax rate (EITR) reconciliation
Based on: 10-K (filing date: 2020-02-21), 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-15), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-02-18).
Item | Description | The company |
---|---|---|
Effective tax rate, before charge for U.S. tax reform | Percentage of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. | Colgate-Palmolive Co.’s effective tax rate, before charge for U.S. tax reform decreased from 2017 to 2018 and from 2018 to 2019. |
Components of Deferred Tax Assets and Liabilities
Colgate-Palmolive Co., components of deferred tax assets and liabilities
US$ in millions
Based on: 10-K (filing date: 2020-02-21), 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-15), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-02-18).
Item | Description | The company |
---|---|---|
Deferred tax assets | Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards. | Colgate-Palmolive Co.’s deferred tax assets increased from 2017 to 2018 and from 2018 to 2019. |
Net deferred tax assets | Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards. | Colgate-Palmolive Co.’s net deferred tax assets increased from 2017 to 2018 but then slightly decreased from 2018 to 2019. |
Net deferred income taxes | Amount, after allocation of valuation allowances and deferred tax liability, of deferred tax asset attributable to deductible differences and carryforwards, without jurisdictional netting. | Colgate-Palmolive Co.’s net deferred income taxes decreased from 2017 to 2018 and from 2018 to 2019. |
Deferred Tax Assets and Liabilities, Classification
Colgate-Palmolive Co., deferred tax assets and liabilities, classification
US$ in millions
Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | ||
---|---|---|---|---|---|---|
Current deferred tax assets (included in Other current assets) | ||||||
Noncurrent deferred tax assets | ||||||
Noncurrent deferred tax liabilities |
Based on: 10-K (filing date: 2020-02-21), 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-15), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-02-18).
Item | Description | The company |
---|---|---|
Noncurrent deferred tax assets | Amount, after allocation of valuation allowances and deferred tax liability, of deferred tax asset attributable to deductible differences and carryforwards, with jurisdictional netting and classified as noncurrent. | Colgate-Palmolive Co.’s noncurrent deferred tax assets decreased from 2017 to 2018 but then increased from 2018 to 2019 not reaching 2017 level. |
Noncurrent deferred tax liabilities | Amount, after deferred tax asset, of deferred tax liability attributable to taxable differences, with jurisdictional netting and classified as noncurrent. | Colgate-Palmolive Co.’s noncurrent deferred tax liabilities increased from 2017 to 2018 and from 2018 to 2019. |
Adjustments to Financial Statements: Removal of Deferred Taxes
Colgate-Palmolive Co., adjustments to financial statements
US$ in millions
Based on: 10-K (filing date: 2020-02-21), 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-15), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-02-18).
Colgate-Palmolive Co., Financial Data: Reported vs. Adjusted
Adjusted Financial Ratios: Removal of Deferred Taxes (Summary)
Colgate-Palmolive Co., adjusted financial ratios
Based on: 10-K (filing date: 2020-02-21), 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-15), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-02-18).
Financial ratio | Description | The company |
---|---|---|
Adjusted current ratio | A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities. | Colgate-Palmolive Co.’s adjusted current ratio deteriorated from 2017 to 2018 and from 2018 to 2019. |
Adjusted net profit margin | An indicator of profitability, calculated as adjusted net income divided by total revenue. | Colgate-Palmolive Co.’s adjusted net profit margin ratio improved from 2017 to 2018 but then slightly deteriorated from 2018 to 2019. |
Adjusted total asset turnover | An activity ratio calculated as total revenue divided by adjusted total assets. | Colgate-Palmolive Co.’s adjusted total asset turnover ratio improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019. |
Adjusted ROA | A profitability ratio calculated as adjusted net income divided by adjusted total assets. | Colgate-Palmolive Co.’s adjusted ROA improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019. |
Colgate-Palmolive Co., Financial Ratios: Reported vs. Adjusted
Adjusted Current Ratio
Based on: 10-K (filing date: 2020-02-21), 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-15), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-02-18).
2019 Calculations
1 Current ratio = Current assets ÷ Current liabilities
= ÷ =
2 Adjusted current ratio = Adjusted current assets ÷ Current liabilities
= ÷ =
Liquidity ratio | Description | The company |
---|---|---|
Adjusted current ratio | A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities. | Colgate-Palmolive Co.’s adjusted current ratio deteriorated from 2017 to 2018 and from 2018 to 2019. |
Adjusted Net Profit Margin
Based on: 10-K (filing date: 2020-02-21), 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-15), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-02-18).
2019 Calculations
1 Net profit margin = 100 × Net income attributable to Colgate-Palmolive Company ÷ Net sales
= 100 × ÷ =
2 Adjusted net profit margin = 100 × Adjusted net income attributable to Colgate-Palmolive Company ÷ Net sales
= 100 × ÷ =
Profitability ratio | Description | The company |
---|---|---|
Adjusted net profit margin | An indicator of profitability, calculated as adjusted net income divided by total revenue. | Colgate-Palmolive Co.’s adjusted net profit margin ratio improved from 2017 to 2018 but then slightly deteriorated from 2018 to 2019. |
Adjusted Total Asset Turnover
Based on: 10-K (filing date: 2020-02-21), 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-15), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-02-18).
2019 Calculations
1 Total asset turnover = Net sales ÷ Total assets
= ÷ =
2 Adjusted total asset turnover = Net sales ÷ Adjusted total assets
= ÷ =
Activity ratio | Description | The company |
---|---|---|
Adjusted total asset turnover | An activity ratio calculated as total revenue divided by adjusted total assets. | Colgate-Palmolive Co.’s adjusted total asset turnover ratio improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019. |
Adjusted Financial Leverage
Based on: 10-K (filing date: 2020-02-21), 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-15), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-02-18).
2019 Calculations
1 Financial leverage = Total assets ÷ Total Colgate-Palmolive Company shareholders’ equity
= ÷ =
2 Adjusted financial leverage = Adjusted total assets ÷ Adjusted total Colgate-Palmolive Company shareholders’ equity
= ÷ =
Adjusted Return on Equity (ROE)
Based on: 10-K (filing date: 2020-02-21), 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-15), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-02-18).
2019 Calculations
1 ROE = 100 × Net income attributable to Colgate-Palmolive Company ÷ Total Colgate-Palmolive Company shareholders’ equity
= 100 × ÷ =
2 Adjusted ROE = 100 × Adjusted net income attributable to Colgate-Palmolive Company ÷ Adjusted total Colgate-Palmolive Company shareholders’ equity
= 100 × ÷ =
Adjusted Return on Assets (ROA)
Based on: 10-K (filing date: 2020-02-21), 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-15), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-02-18).
2019 Calculations
1 ROA = 100 × Net income attributable to Colgate-Palmolive Company ÷ Total assets
= 100 × ÷ =
2 Adjusted ROA = 100 × Adjusted net income attributable to Colgate-Palmolive Company ÷ Adjusted total assets
= 100 × ÷ =
Profitability ratio | Description | The company |
---|---|---|
Adjusted ROA | A profitability ratio calculated as adjusted net income divided by adjusted total assets. | Colgate-Palmolive Co.’s adjusted ROA improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019. |