Colgate Palmolive : Three Months Ended December 31, 2021 and 2020

Table 8

Colgate-Palmolive Company

Non-GAAP Reconciliations

For the Three Months Ended December 31, 2021 and 2020

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

Operating Profit		2021			2020		% Change
Operating profit, GAAP	$	365	$	969	(62)%
Goodwill and indefinite-lived intangible impairment charges		571			-
Operating profit, non-GAAP	$	936	$	969	(3)%

					Basis Point
Operating Profit Margin	2021		2020		Change
Operating profit margin, GAAP	8.3 %	22.4 %	(1,410)
Goodwill and indefinite-lived intangible impairment charges	13.0 %		- %
Operating profit margin, non-GAAP	21.3 %	22.4 %	(110)

Interest (Income) Expense											2021			2020
Interest (income) expense, GAAP										$	23	$	57
Loss on early extinguishment of debt									-			(23)
Interest (income) expense, non-GAAP								$	23		$	34
								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	$	324	$	136	$	188		$	148			42.0 %	$	0.18
Goodwill and indefinite-lived
intangible impairment charges		571			53			518			518			(20.9)%			0.61
Non-GAAP	$	895		$	189		$	706		$	666			21.1 %		$	0.79
								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	$	894	$	202	$	692		$	647			22.6 %	$	0.75
Loss on early extinguishment of
debt		23			5			18			18			- %			0.02
Non-GAAP	$	917	$	207	$	710		$	665			22.6 %	$	0.77

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.