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Stock Analysis on Net

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: Liabilities and Stockholders’ Equity

Colgate-Palmolive Co., common-size consolidated balance sheet: liabilities and stockholders’ equity

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Notes and loans payable 0.07 0.26 1.62 1.73 0.10
Current portion of long-term debt 0.09 0.08 0.06 1.69 0.00
Accounts payable 9.86 9.83 8.75 8.23 10.05
Accrued income taxes 2.02 2.90 2.53 2.46 3.38
Accrued advertising and coupon redemption 4.92 4.71 4.57 3.49 4.00
Accrued payroll and employee benefits 2.09 2.35 2.52 2.26 2.26
Accrued taxes other than income taxes 0.85 0.78 0.73 0.69 1.04
Restructuring accrual 0.25 0.05 0.13 0.57 1.22
Pension and other retiree benefits 0.52 0.58 0.56 0.36 0.69
Operating lease liabilities due in one year 0.69 0.91 0.86 0.96 0.00
Accrued interest 0.38 0.25 0.24 0.29 0.29
Derivatives 0.10 0.04 0.58 0.11 0.07
Other 3.64 4.19 4.50 4.02 4.37
Other accruals 13.42% 13.86% 14.70% 12.75% 13.95%
Current liabilities 25.45% 26.93% 27.66% 26.86% 27.47%
Long-term debt, excluding current portion 55.57 47.83 46.07 48.78 52.25
Deferred income taxes 2.43 2.63 2.68 3.37 1.93
Pension and other retiree benefits 7.18 11.45 11.40 11.49 13.16
Restructuring accrual 0.00 0.01 0.06 0.10 0.44
Long-term operating lease liabilities 2.52 3.00 2.99 3.27 0.00
Other 1.72 1.69 2.22 2.42 3.12
Other liabilities 11.42% 16.15% 16.68% 17.28% 16.73%
Non-current liabilities 69.42% 66.61% 65.42% 69.43% 70.91%
Total liabilities 94.88% 93.54% 93.08% 96.29% 98.38%
Common stock, $1 par value 9.32 9.75 9.21 9.75 12.05
Additional paid-in capital 22.54 21.74 18.65 16.55 18.12
Retained earnings 156.21 161.90 148.86 149.67 177.74
Accumulated other comprehensive loss -25.78 -29.16 -27.29 -28.42 -34.44
Unearned compensation -0.01 -0.01 -0.01 -0.01 -0.02
Treasury stock, at cost -159.74 -160.17 -144.76 -146.75 -174.29
Total Colgate-Palmolive Company shareholders’ equity 2.55% 4.05% 4.67% 0.78% -0.84%
Noncontrolling interests 2.57 2.41 2.25 2.93 2.46
Total equity 5.12% 6.46% 6.92% 3.71% 1.62%
Total liabilities and equity 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 capital structure is characterized by a high degree of leverage, with total liabilities consistently accounting for the vast majority of total liabilities and equity, ranging from a low of 93.08% in 2020 to a high of 98.38% in 2018. Total equity represents a minimal portion of the balance sheet, fluctuating between 1.62% and 6.92% over the five-year period.

Debt and Non-Current Liabilities
Long-term debt, excluding the current portion, is the primary driver of the liability structure. This component showed significant volatility, declining from 52.25% in 2018 to 46.07% in 2020, before increasing sharply to 55.57% by 2022. Non-current liabilities as a whole remained relatively stable, generally fluctuating between 65% and 71% of the total balance sheet.
Current Liability Trends
Current liabilities have maintained a steady presence, consistently representing between 25.45% and 27.66% of total liabilities and equity. The composition of these liabilities is dominated by other accruals (averaging 13-14%) and accounts payable (averaging 8-10%). Other current items, such as accrued advertising and coupon redemptions, show a gradual upward trend, increasing from 4.00% in 2018 to 4.92% in 2022.
Equity Composition and Capital Management
The equity section reveals an aggressive capital return strategy. While retained earnings are substantial, ranging from 148.86% to 177.74%, they are almost entirely offset by massive treasury stock holdings, which range from -144.76% to -174.29%. This indicates an extensive program of share repurchases. Furthermore, accumulated other comprehensive losses consistently exert a downward pressure on total equity, subtracting between 25.78% and 34.44% from the total liabilities and equity base.
Other Significant Obligations
Pension and other retiree benefits within non-current liabilities saw a notable decrease, falling from 13.16% in 2018 to 7.18% in 2022. Long-term operating lease liabilities emerged in 2019 at 3.27% and remained relatively stable, ending at 2.52% in 2022.

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