Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Colgate-Palmolive Co., consolidated income statement

US$ in millions

12 months ended:	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Net sales	17,967)	17,421)	16,471)	15,693)	15,544)
Cost of sales	(7,719)	(7,046)	(6,454)	(6,368)	(6,313)
Gross profit	10,248)	10,375)	10,017)	9,325)	9,231)
Selling, general and administrative expenses	(6,565)	(6,407)	(6,019)	(5,575)	(5,389)
Global Growth and Efficiency Program	—)	—)	13)	(57)	(88)
Amortization of intangible assets	(80)	(89)	(88)	(62)	(59)
Equity income	12)	12)	12)	9)	10)
Gains from marketable securities and other assets	22)	8)	2)	—)	—)
Indirect tax refunds	14)	5)	(3)	—)	—)
Value-added tax matter in Brazil	—)	26)	—)	30)	—)
Acquisition-related costs	(19)	—)	(2)	(21)	—)
2022 Global Productivity Initiative	(90)	—)	—)	—)	—)
Gain on the sale of land in Asia Pacific	47)	—)	—)	—)	—)
Charges for a change in go-to-market strategy in certain countries	—)	—)	—)	(15)	—)
Other, net	25)	(27)	(47)	(80)	(11)
Other income (expense), net	(69)	(65)	(113)	(196)	(148)
Goodwill and intangible assets impairment charges	(721)	(571)	—)	—)	—)
Operating profit	2,893)	3,332)	3,885)	3,554)	3,694)
Non-service related postretirement costs	(80)	(70)	(74)	(108)	(87)
Interest expense	(167)	(117)	(183)	(192)	(193)
Interest income	14)	17)	19)	47)	50)
Loss on early extinguishment of debt	—)	(75)	—)	—)	—)
Interest income (expense), net	(153)	(175)	(164)	(145)	(143)
Income before income taxes	2,660)	3,087)	3,647)	3,301)	3,464)
Provision for income taxes	(693)	(749)	(787)	(774)	(906)
Net income including noncontrolling interests	1,967)	2,338)	2,860)	2,527)	2,558)
Net income attributable to noncontrolling interests	(182)	(172)	(165)	(160)	(158)
Net income attributable to Colgate-Palmolive Company	1,785)	2,166)	2,695)	2,367)	2,400)

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

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Income statement item	Description	The company
Net sales	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	Colgate-Palmolive Co. net sales increased from 2020 to 2021 and from 2021 to 2022.
Operating profit	The net result for the period of deducting operating expenses from operating revenues.	Colgate-Palmolive Co. operating profit decreased from 2020 to 2021 and from 2021 to 2022.
Income before income taxes	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.	Colgate-Palmolive Co. income before income taxes decreased from 2020 to 2021 and from 2021 to 2022.
Net income attributable to Colgate-Palmolive Company	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Colgate-Palmolive Co. net income attributable to Colgate-Palmolive Company decreased from 2020 to 2021 and from 2021 to 2022.

Colgate-Palmolive Co. (NYSE:CL)

Income Statement