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Colgate-Palmolive Co. (NYSE:CL)

This company has been moved to the archive! The financial data has not been updated since July 28, 2023.

Common-Size Balance Sheet: Assets

Colgate-Palmolive Co., common-size consolidated balance sheet: assets

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Cash and cash equivalents 4.93 5.53 5.58 5.87 5.97
Receivables, net of allowances 9.56 8.62 7.94 9.58 11.51
Inventories 13.18 11.25 10.51 9.31 10.28
Other current assets 4.83 3.83 3.22 3.03 3.43
Current assets 32.50% 29.24% 27.25% 27.80% 31.19%
Property, plant and equipment, net 27.38 24.80 23.34 24.94 31.91
Goodwill 21.31 21.84 24.02 23.33 20.80
Other intangible assets, net 12.21 16.37 18.18 17.74 13.46
Deferred income taxes 0.86 1.28 1.83 1.18 1.25
Other assets 5.75 6.48 5.38 5.01 1.38
Non-current assets 67.50% 70.76% 72.75% 72.20% 68.81%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

The asset composition of the company exhibits a gradual shift toward a higher concentration of current assets by the end of the five-year period. While the balance sheet remained relatively stable, there is a observable trend of increasing liquidity requirements, primarily driven by inventory accumulation, and a redistribution of non-current asset weights.

Current Asset Composition
Total current assets fluctuated between 27.25% and 32.50% of total assets, ending the period at its highest point. This increase is largely attributable to a steady rise in inventories, which grew from 10.28% in 2018 to 13.18% in 2022. Conversely, cash and cash equivalents experienced a consistent decline, falling from 5.97% to 4.93%. Receivables showed a U-shaped trend, decreasing from 11.51% in 2018 to a low of 7.94% in 2020 before recovering to 9.56% by 2022.
Fixed and Tangible Asset Trends
Property, plant, and equipment (PP&E) saw a significant reduction in its relative weight from 31.91% in 2018 to 23.34% in 2020, indicating either a period of lower capital expenditure relative to asset growth or an increase in the total asset base. This metric began to recover in the subsequent two years, reaching 27.38% by 2022.
Intangible Assets and Goodwill
Goodwill remained a substantial component of the asset base, maintaining a relatively stable range between 20.80% and 24.02%. Other intangible assets experienced more volatility, peaking at 18.18% in 2020 before declining sharply to 12.21% in 2022, suggesting potential amortization or impairment impacts over time.
Other Non-Current Assets
Other assets showed a marked increase from 1.38% in 2018 to 5.75% in 2022, while deferred income taxes remained a negligible portion of the total asset structure, consistently staying below 2%.

Overall, the transition from 2018 to 2022 reveals a strategic or operational shift where non-current assets decreased from 68.81% to 67.50% of the total. The most prominent change is the increased weighting of inventories and other current assets, which suggests a potential increase in working capital requirements to support operations.

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