Colgate Palmolive : Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2022 and 2021

					Table 4
Colgate-Palmolive Company
Condensed Consolidated Statements of Cash Flows
For the Nine Months Ended September 30, 2022 and 2021
(Dollars in Millions) (Unaudited)
		2022			2021
Operating Activities
Net income including noncontrolling interests	$	1,924	$	2,150
Adjustments to reconcile Net income including noncontrolling interests to Net cash provided by operations:
Depreciation and amortization		410			414
Restructuring and termination benefits, net of cash		51			(19)
Stock-based compensation expense		105			107
Gain on sale of land		(47)			-
Forward starting swap settlement		82			-
Loss on early extinguishment of debt		-			75
Deferred income taxes		(13)			(146)
Cash effects of changes in:
Receivables		(171)			(198)
Inventories		(422)			(37)
Accounts payable and other accruals		9			(107)
Other non-current assets and liabilities		(45)			(20)
Net cash provided by (used in) operations		1,883			2,219
Investing Activities
Capital expenditures		(475)			(374)
Purchases of marketable securities and investments		(239)			(118)
Proceeds from sale of marketable securities and investments		55			55
Payment for acquisition, net of cash acquired		(817)			-
Proceeds from sale of land		47			-
Other investing activities		1			(25)
Net cash provided by (used in) investing activities		(1,428)			(462)

Financing Activities

Short-term borrowing (repayment) less than 90 days, net Principal payments on debt

Proceeds from issuance of debt Dividends paid

Purchases of treasury shares

Proceeds from exercise of stock options Other

Net cash provided by (used in) financing activities

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

1. 205

(2)	(118)
1,513	119
(1,206)	(1,183)

1. (964)

398282

1. (9)

1. (1,668)

	(63)			(19)
	106			70
	832			888
$	938	$	958

Supplemental Cash Flow Information
Free cash flow before dividends (Net cash provided by operations less Capital expenditures)
Net cash provided by operations	$	1,883	$	2,219
Less: Capital expenditures		(475)			(374)
Free cash flow before dividends	$	1,408	$	1,845

Income taxes paid

$

690

$

742