Income Statement
Quarterly Data

The income statement presents information on the financial results of a company 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 (quarterly data)

US$ in millions

3 months ended:	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019	Dec 31, 2018	Sep 30, 2018	Jun 30, 2018	Mar 31, 2018
Net sales	4,822)	4,770)	4,629)	4,455)	4,484)	4,399)	4,403)	4,414)	4,260)	4,344)	4,324)	4,153)	3,897)	4,097)	4,015)	3,928)	3,866)	3,884)	3,811)	3,845)	3,886)	4,002)
Cost of sales	(2,035)	(2,058)	(2,055)	(1,907)	(1,930)	(1,827)	(1,844)	(1,791)	(1,704)	(1,707)	(1,681)	(1,613)	(1,528)	(1,632)	(1,601)	(1,612)	(1,558)	(1,597)	(1,558)	(1,576)	(1,585)	(1,594)
Gross profit	2,787)	2,712)	2,574)	2,548)	2,554)	2,572)	2,559)	2,623)	2,556)	2,637)	2,643)	2,540)	2,369)	2,465)	2,414)	2,316)	2,308)	2,287)	2,253)	2,269)	2,301)	2,408)
Selling, general and administrative expenses	(1,768)	(1,758)	(1,633)	(1,634)	(1,657)	(1,641)	(1,598)	(1,636)	(1,568)	(1,605)	(1,633)	(1,518)	(1,395)	(1,473)	(1,412)	(1,429)	(1,369)	(1,365)	(1,328)	(1,369)	(1,300)	(1,392)
Other income (expense), net	(45)	(45)	(18)	33)	(13)	(71)	(25)	(20)	8)	(28)	(41)	(4)	(28)	(40)	(71)	(31)	(51)	(43)	(34)	(26)	(55)	(33)
Goodwill and indefinite-lived intangible impairment charges	—)	—)	(721)	—)	—)	—)	(571)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Operating profit	974)	909)	202)	947)	884)	860)	365)	967)	996)	1,004)	969)	1,018)	946)	952)	931)	856)	888)	879)	891)	874)	946)	983)
Non-service related postretirement costs	(29)	(294)	(15)	(15)	(12)	(38)	(18)	(16)	(18)	(18)	(18)	(15)	(20)	(21)	(29)	(27)	(27)	(25)	(22)	(18)	(23)	(24)
Interest income (expense), net	(58)	(54)	(55)	(40)	(31)	(27)	(23)	(98)	(25)	(29)	(57)	(36)	(35)	(36)	(32)	(35)	(38)	(40)	(37)	(36)	(35)	(35)
Income before income taxes	887)	561)	132)	892)	841)	795)	324)	853)	953)	957)	894)	967)	891)	895)	870)	794)	823)	814)	832)	820)	888)	924)
Provision for income taxes	(353)	(147)	(89)	(210)	(202)	(192)	(136)	(172)	(212)	(229)	(202)	(222)	(216)	(147)	(188)	(167)	(205)	(214)	(189)	(258)	(213)	(246)
Net income including noncontrolling interests	534)	414)	43)	682)	639)	603)	188)	681)	741)	728)	692)	745)	675)	748)	682)	627)	618)	600)	643)	562)	675)	678)
Net income attributable to noncontrolling interests	(32)	(42)	(38)	(64)	(36)	(44)	(40)	(47)	(38)	(47)	(45)	(47)	(40)	(33)	(39)	(49)	(32)	(40)	(37)	(39)	(38)	(44)
Net income attributable to Colgate-Palmolive Company	502)	372)	5)	618)	603)	559)	148)	634)	703)	681)	647)	698)	635)	715)	643)	578)	586)	560)	606)	523)	637)	634)

Net Sales Trend: Net sales show a generally increasing trend over the periods analyzed, rising from approximately 4002 million USD at the start in March 2018 to 4822 million USD by June 2023. Some fluctuations are present within quarters, but the overall trajectory is upward, indicating growth in revenue generation.
Cost of Sales Trend: The cost of sales has also increased over time, from about 1594 million USD in March 2018 to around 2035 million USD in June 2023. Although this trend follows sales growth, the cost increases moderately and shows some short-term fluctuations without a clear seasonal pattern.
Gross Profit Dynamics: Gross profit has generally increased from 2408 million USD in March 2018 to 2787 million USD by June 2023. This signifies improved profitability at the gross margin level, despite occasional minor declines. The gross profit margin appears relatively stable, benefitting from sales growth outpacing cost increases.
Operating Expenses: Selling, general and administrative expenses exhibit a rising trend, increasing from roughly 1392 million USD to approximately 1768 million USD over the period. The expenses move upward consistently, suggesting increased spending possibly related to expanded operations or inflationary pressures.
Other Income (Expense), Net: Other income and expense data fluctuate considerably, with negative values predominating in most quarters. There are occasional positive spikes, but no clear trend emerges, indicating variance in non-operational income and costs that do not follow a consistent path.
Goodwill and Intangible Impairment Charges: Two notable impairment charges are observed: a significant charge of 571 million USD in June 2021 and an even larger charge of 721 million USD in March 2023. These extraordinary losses indicate impairment of assets particularly in those periods.
Operating Profit Pattern: Operating profit shows moderate variability, starting near 983 million USD in March 2018 and ending close to 974 million USD in June 2023, despite a sharp decline to 365 million USD observed in December 2021, likely related to the impairment charge occurring around that period. Otherwise, operating profits remain relatively stable with minor fluctuations.
Non-Service Related Postretirement Costs: These costs generally remain consistent at moderate negative amounts each quarter, with an abrupt spike to -294 million USD in March 2023, coinciding with the large impairment charge noted earlier, suggesting extraordinary pension-related expenses during that time.
Interest Income (Expense), Net: Interest expense remains fairly stable, fluctuating between -23 million USD and -98 million USD, with no clear increasing or decreasing trend. A notable peak in interest expense occurs in September 2021, which may reflect changes in debt or interest rates at that time.
Income Before Income Taxes: Income before taxes largely follows the operating profit trend but shows additional volatility. It decreases notably in December 2021 but recovers by mid-2023. The range fluctuates between approximately 820 million USD and 957 million USD in most quarters, with a low of 132 million USD in March 2023 corresponding to the impairment charge period.
Provision for Income Taxes: The provision for income taxes fluctuates in line with income before taxes, generally ranging between 136 million USD and 246 million USD. In March 2023, tax provision spikes to 353 million USD, likely influenced by the impairment losses and related tax impact.
Net Income Trend: Net income attributable to the company exhibits variability with some significant declines and partial recoveries. Starting near 634 million USD in March 2018, it dips sharply to 148 million USD in December 2021 and further to 5 million USD in March 2023, before recovering modestly in the subsequent periods. The declines correspond with impairment charges and higher expenses noted in these quarters.
Summary of Key Observations: The financial data reflects steady sales and gross profit growth over time, accompanied by rising operating expenses. Periodic large impairment charges and related extraordinary expenses heavily impacted profitability in late 2021 and early 2023. Despite these setbacks, operating profit and net income show resilience and recovery tendencies following these events. Non-operating income and interest expenses fluctuate but do not show systematic trends. Overall, the company demonstrates growth with episodic challenges related to asset impairments and elevated costs.

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Colgate-Palmolive Co. (NYSE:CL)

Income Statement Quarterly Data

Income Statement
Quarterly Data