Colgate Palmolive : Three Months Ended March 31, 2024 and 2023

Table 6

	Colgate-Palmolive Company
	Non-GAAP Reconciliations
For the Three Months Ended March 31, 2024 and 2023
(Dollars in Millions Except Per Share Amounts) (Unaudited)
Selling, General and Administrative Expenses			2024				2023
Selling, general and administrative expenses, GAAP	$	1,916		$	1,758
2022 Global Productivity Initiative			(1)				-
Selling, general and administrative expenses, non-GAAP	$	1,915		$	1,758
Other (Income) Expense, Net
		2024				2023
Other (income) expense, net, GAAP	$	76		$	45
2022 Global Productivity Initiative			(35)				(5)
Product recall costs			-				(25)
Other (income) expense, net, non-GAAP	$	41		$	15
Operating Profit
		2024				2023			% Change
Operating profit, GAAP	$	1,047		$	909		15 %
2022 Global Productivity Initiative			36				5
Product recall costs			-				25
Operating profit, non-GAAP	$	1,083		$	939		15 %
										Basis Point
Operating Profit Margin			2024				2023			Change
Operating profit margin, GAAP			20.7 %			19.1	%	160
2022 Global Productivity Initiative			0.7	%			0.1	%
Product recall costs			- %			0.5	%
Operating profit margin, non-GAAP			21.4 %			19.7	%	170
Non-Service Related Postretirement Costs
		2024				2023
Non-service related postretirement costs, GAAP	$	22		$	294
ERISA litigation matter			-				(267)
2022 Global Productivity Initiative			-				(1)
Non-service related postretirement costs, non-GAAP	$	22		$	26

Table 6

Continued

Colgate-Palmolive Company

Non-GAAP Reconciliations

For the Three Months Ended March 31, 2024 and 2023

(Dollars in Millions Except Per Share Amounts) (Unaudited)

											2024
														Net Income
		Income		Provision			Net Income		Less: Income			Attributable
								To		Effective				Diluted
		Before			For			Including		Attributable to			Colgate-
		Income		Income		Noncontrolling		Noncontrolling			Palmolive		Income				Earnings
		Taxes		Taxes(1)			Interests			Interests			Company		Tax Rate(2)			Per Share
As Reported GAAP	$	967	$	238	$	729	$	46	$	683	24.6	%	$	0.83
2022 Global Productivity Initiative		36			6			30			-			30		(0.3) %			0.03
Non-GAAP	$	1,003	$	244	$	759	$	46	$	713	24.3	%	$	0.86
											2023
														Net Income
		Income		Provision			Net Income		Less: Income			Attributable
								To		Effective				Diluted
		Before			For			Including		Attributable to			Colgate-
		Income		Income		Noncontrolling		Noncontrolling			Palmolive		Income				Earnings
		Taxes		Taxes(1)			Interests			Interests			Company		Tax Rate(2)			Per Share
As Reported GAAP	$	561	$	147	$	414	$	42	$	372	26.2	%	$	0.45
ERISA litigation matter		267			55			212			-			212	(1.8) %			0.25
Product recall costs		25			6			19			-			19		-	%			0.02
2022 Global Productivity Initiative		6			1			5			-			5		(0.1) %			0.01
Non-GAAP	$	859	$	209	$	650	$	42	$	608	24.3	%	$	0.73

The impact of non-GAAP adjustments may not necessarily equal the difference between "GAAP" and "non-GAAP" as a result of rounding.

Notes:

1. The income tax effect on non-GAAP items is calculated based upon the tax laws and statutory income tax rates applicable in the tax jurisdiction(s) of the underlying non-GAAP adjustment.
2. The impact of non-GAAP items on the Company's effective tax rate represents the difference in the effective tax rate calculated with and without the non- GAAP adjustment on Income before income taxes and Provision for income taxes.