Colgate Palmolive : Condensed Consolidated Statements of Cash Flows For the Nine Months Ended September 30, 2020 and 2019

Table 4

Colgate-Palmolive Company

Condensed Consolidated Statements of Cash Flows

For the Nine Months Ended September 30, 2020 and 2019

(Dollars in Millions) (Unaudited)

Operating Activities

Net income including noncontrolling interests

Adjustments to reconcile Net income including noncontrolling interests to Net cash provided by operations:

Depreciation and amortization

Restructuring and termination benefits, net of cash Stock-based compensation expense

Deferred income taxes

Voluntary benefit plan contributions Cash effects of changes in:

Receivables Inventories

Accounts payable and other accruals Other non-current assets and liabilities

Net cash provided by operations

Investing Activities

Capital expenditures

Purchases of marketable securities and investments Proceeds from sale of marketable securities and investments Payment for acquisitions, net of cash acquired

Net cash used in investing activities

Financing Activities

Principal payments on debt Proceeds from issuance of debt Dividends paid

Purchases of treasury shares

Proceeds from exercise of stock options

Purchases of non-controlling interests in subsidiaries

Net cash provided by (used in) financing activities

2020

2019

$

2,168 $ 1,845

400 386

(66) 11

85 83

(124) 79

- (113)

62 (65)

(214) (69)

468 (52)

(23) 58

2,756 2,163

(249) (226)

(109) (152)

42 14

(352) (1,711)

(668) (2,075)

(3,269) (4,184)

2,500

6,008

(1,162) (1,140)

(578) (1,024)

640 (99)

490 -

(1,968) 150

Effect of exchange rate changes on Cash and cash equivalents Net increase (decrease) in Cash and cash equivalents

Cash and cash equivalents at beginning of the period Cash and cash equivalents at end of the period

Supplemental Cash Flow Information

Free cash flow before dividends (Net cash provided by operations less Capital expenditures)

Net cash provided by operations

Less: Capital expenditures

Free cash flow before dividends

(14) (16)

106 222

883 726

$

989 $ 948

$

2,756 $ 2,163

(249) (226)

$

2,507 $ 1,937

Income taxes paid

$

606 $ 669