Colgate Palmolive : Twelve Months Ended December 31, 2022 and 2021

Table 9

	Colgate-Palmolive Company
	Non-GAAP Reconciliations
For the Twelve Months Ended December 31, 2022 vs. 2021
(Dollars in Millions Except Per Share Amounts) (Unaudited)
Selling, General and Administrative Expenses			2022			2021
Selling, general and administrative expenses, GAAP	$	6,565	$	6,407
2022 Global Productivity Initiative			(5)			-
Selling, general and administrative expenses, non-GAAP	$	6,560	$	6,407
Other (Income) Expense, Net			2022			2021
Other (income) expense, net, GAAP	$	69	$	65
2022 Global Productivity Initiative			(90)			-
Gain on the sale of land in Asia Pacific			47			-
Acquisition-related costs			(19)			-
Value-added tax matter in Brazil			-			26
Other (income) expense, net, non-GAAP	$	7	$	91
Operating Profit			2022			2021		% Change
Operating profit, GAAP	$	2,893	$	3,332	(13)%
Goodwill and intangible assets impairment charges			721			571
2022 Global Productivity Initiative			95			-
Gain on the sale of land in Asia Pacific			(47)			-
Acquisition-related costs			19			-
Value-added tax matter in Brazil			-			(26)
Operating profit, non-GAAP	$	3,681	$	3,877	(5)%
			2022			2021		Basis Point
Operating Profit Margin						Change
Operating profit margin, GAAP			16.1 %			19.1 %	(300)
Goodwill and intangible assets impairment charges			4.0 %			3.4 %
2022 Global Productivity Initiative			0.5 %			- %
Gain on the sale of land in Asia Pacific			(0.2)%			- %
Acquisition-related costs			0.1 %			- %
Value-added tax matter in Brazil			- %			(0.2)%
Operating profit margin, non-GAAP			20.5 %			22.3 %	(180)
Interest (Income) Expense, Net
		2022			2021
Interest (income) expense, net, GAAP	$	153	$	175
Loss on early extinguishment of debt			-			(75)
Interest (income) expense, net, non-GAAP	$	153	$	100
Non-service related post retirement cost			2022			2021
Non-service related post retirement cost, GAAP	$	80	$	70
2022 Global Productivity Initiative			(15)			-
Non-service post retirement cost, non-GAAP	$	65	$	70

Table 9

Continued

Colgate-Palmolive Company

Non-GAAP Reconciliations

For the Twelve Months Ended December 31, 2022 vs. 2021

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

											2022
								Net Income			Less: Income			Net Income
		Income			Provision						Attributable To		Effective			Diluted
						Including		Attributable to			Colgate-
		Before		For Income		Noncontrolling		Noncontrolling			Palmolive		Income			Earnings
	Income Taxes			Taxes(1)			Interests			Interests			Company		Tax Rate(2)		Per Share
As Reported GAAP	$	2,660	$	693	$	1,967	$	182	$	1,785	26.1 %	$	2.13
Goodwill and intangible assets		721			101			620			-			620	(2.6)%			0.74
impairment charges
2022 Global Productivity		110			22			88			1			87	(0.1)%			0.10
Initiative
Gain on the sale of land in Asia		(47)			(11)			(36)			(21)			(15)		- %			(0.02)
Pacific
Acquisition-related costs		19			3			16			-			16		(0.1)%			0.02
Non-GAAP	$	3,463	$	808	$	2,655	$	162	$	2,493	23.3 %	$	2.97
											2021
								Net Income			Less: Income			Net Income
		Income			Provision						Attributable To		Effective			Diluted
						Including		Attributable to			Colgate-
		Before		For Income		Noncontrolling		Noncontrolling			Palmolive		Income			Earnings
	Income Taxes			Taxes(1)			Interests			Interests			Company		Tax Rate(2)		Per Share
As Reported GAAP	$	3,087	$	749	$	2,338	$	172	$	2,166	24.3 %	$	2.55
Goodwill and intangible assets
impairment charges		571			53			518			-			518	(2.1)%			0.61
Loss on early extinguishment of		75			20			55			-			55	(0.3)%			0.07
debt
Value-added tax matter in Brazil		(26)			(6)			(20)			-			(20)		0.1 %			(0.02)
Non-GAAP	$	3,707	$	816	$	2,891	$	172	$	2,719	22.0 %	$	3.21

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.