Stock Analysis on Net
Stock Analysis on Net
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Colgate-Palmolive Co. (NYSE:CL)

Income Statement

Beginner level

The income statement presents information on the financial results of a company’s business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Colgate-Palmolive Co., consolidated income statement

US$ in millions

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12 months ended: Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Net sales 16,471  15,693  15,544  15,454  15,195 
Cost of sales (6,454) (6,368) (6,313) (6,174) (6,072)
Gross profit 10,017  9,325  9,231  9,280  9,123 
Selling, general and administrative expenses (6,019) (5,575) (5,389) (5,497) (5,249)
Global Growth and Efficiency Program 13  (57) (88) (169) (105)
Amortization of intangible assets (88) (62) (59) (35) (33)
Gain on sale of land in Mexico —  —  —  —  97 
Charges for litigation matters —  —  —  —  (17)
Equity income 12  10  11  10 
Value-added tax matter in Brazil —  30  —  —  — 
Write-off of certain investments and fixed assets —  (51) (1) —  — 
Acquisition-related costs (2) (21) —  —  — 
Charges for a change in go-to-market strategy in certain countries —  (15) —  —  — 
Other, net (48) (29) (10) (1) 11 
Other income (expense), net (113) (196) (148) (194) (37)
Operating profit 3,885  3,554  3,694  3,589  3,837 
Non-service related postretirement costs (74) (108) (87) —  — 
Interest expense (183) (192) (193) (153) (149)
Interest income 19  47  50  51  50 
Interest income (expense), net (164) (145) (143) (102) (99)
Income before income taxes 3,647  3,301  3,464  3,487  3,738 
Provision for income taxes (787) (774) (906) (1,313) (1,152)
Net income including noncontrolling interests 2,860  2,527  2,558  2,174  2,586 
Net income attributable to noncontrolling interests (165) (160) (158) (150) (145)
Net income attributable to Colgate-Palmolive Company 2,695  2,367  2,400  2,024  2,441 

Based on: 10-K (filing date: 2021-02-18), 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).

Income statement item Description The company
Net sales Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. Colgate-Palmolive Co.’s net sales increased from 2018 to 2019 and from 2019 to 2020.
Operating profit The net result for the period of deducting operating expenses from operating revenues. Colgate-Palmolive Co.’s operating profit decreased from 2018 to 2019 but then increased from 2019 to 2020 exceeding 2018 level.
Income before income taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Colgate-Palmolive Co.’s income before income taxes decreased from 2018 to 2019 but then increased from 2019 to 2020 exceeding 2018 level.
Net income attributable to Colgate-Palmolive Company The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Colgate-Palmolive Co.’s net income attributable to Colgate-Palmolive Company decreased from 2018 to 2019 but then increased from 2019 to 2020 exceeding 2018 level.