Nine Months Ended September 30, 2021 and 2020

Table 9

	Colgate-Palmolive Company
	Non-GAAP Reconciliations
For the Nine Months Ended September 30, 2021 and 2020
(Dollars in Millions Except Per Share Amounts) (Unaudited)
Gross Profit		2021				2020
Gross profit, GAAP	$	7,816	$	7,374
Acquisition-related costs			-			4
Gross profit, non-GAAP		$	7,816		$	7,378
Selling, General and Administrative Expenses
	2021				2020
Selling, general and administrative expenses, GAAP	$	4,809	$	4,386
Global Growth and Efficiency Program			-			3
Selling, general and administrative expenses, non-GAAP		$	4,809		$	4,389
Other (Income) Expense, Net
	2021				2020
Other (income) expense, net, GAAP	$	40	$	72
Value-added tax matter in Brazil			26			-
Global Growth and Efficiency Program			-			13
Acquisition-related costs			-			(2)
Other (income) expense, net, non-GAAP		$	66		$	83
Operating Profit
	2021				2020		% Change
Operating profit, GAAP	$	2,967	$	2,916	2 %
Value-added tax matter in Brazil			(26)			-
Global Growth and Efficiency Program			-			(16)
Acquisition-related costs			-			6
Operating profit, non-GAAP	$	2,941	$	2,906	1 %
								Basis Point
Operating Profit Margin		2021				2020		Change
Operating profit margin, GAAP			22.8 %			24.0 %	(120)
Value-added tax matter in Brazil			(0.2)%			- %
Global Growth and Efficiency Program			- %			(0.1)%
Operating profit margin, non-GAAP			22.6 %			23.9 %		(130)
Interest (Income) Expense, Net
	2021				2020
Interest (income) expense, net, GAAP	$	152	$	107
Loss on early extinguishment of debt			(75)			-
Interest (income) expense, net, non-GAAP	$	77	$	107

Table 9

Continued

Colgate-Palmolive Company

Non-GAAP Reconciliations

For the Nine Months Ended September 30, 2021 and 2020

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

								2021
								Net Income			Net Income		Effective			Diluted
		Income Before			Provision For			Including			Attributable To
					Noncontrolling		Colgate-Palmolive		Income			Earnings
		Income Taxes		Income Taxes(1)			Interests			Company		Tax Rate(2)			Per Share
As Reported GAAP	$	2,763	$	613	$	2,150	$	2,018	22.2 %	$	2.38
Loss on early extinguishment of		75			20			55			55	0.1 %			0.06
debt
Value-added tax matter in Brazil		(26)			(6)			(20)			(20)		- %			(0.02)
Non-GAAP	$	2,812		$	627		$	2,185		$	2,053		22.3 %		$	2.42
								2020
								Net Income			Net Income		Effective			Diluted
		Income Before			Provision For			Including			Attributable To
					Noncontrolling		Colgate-Palmolive		Income			Earnings
		Income Taxes		Income Taxes(1)			Interests			Company		Tax Rate(2)			Per Share
As Reported GAAP	$	2,753	$	585	$	2,168	$	2,048	21.2 %	$	2.38
Global Growth and Efficiency
Program		(16)			(3)			(13)			(13)		- %			(0.02)
Subsidiary and operating
structure initiatives		-			71			(71)			(71)	2.7 %			(0.08)
Acquisition-related costs		6			2			4			4		- %			0.01
Non-GAAP	$	2,743	$	655	$	2,088	$	1,968	23.9 %	$	2.29

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 adjustments on Income before income taxes and Provision for income taxes.