Item 2.02. Results of Operations and Financial Condition.

On January 28, 2022, Colgate-Palmolive Company (the "Company") issued a press release announcing its earnings for the quarter and year ended December 31, 2021. This press release is attached as Exhibit 99 and is incorporated herein by reference.

The information in Item 2.02 of this Current Report is being furnished and shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section. The information in Item 2.02 of this Current Report shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended.

Item 2.05. Costs Associated with Exit or Disposal Activities.

On January 27, 2022, the Company's Board of Directors approved a targeted productivity program (the "2022 Global Productivity Initiative"). The program is intended to reallocate resources toward the Company's strategic priorities and faster growth businesses, drive efficiencies in the Company's operations and streamline the Company's supply chain to reduce structural costs.

Implementation of the 2022 Global Productivity Initiative, which is expected to be substantially completed by December 31, 2022, is projected to result in cumulative pre-tax charges, once all phases are approved and implemented, totaling between $200 and $240 million, which are currently estimated to be comprised of the following: employee-related costs, including severance, pension and other termination benefits (80%); asset-related costs, primarily accelerated depreciation and asset write-downs (10%); and other charges (10%), which include contract termination costs, consisting primarily of implementation-related charges resulting directly from exit activities and the implementation of new strategies. It is estimated that approximately 90% of the charges will result in cash expenditures.

Charges related to the 2022 Global Productivity Initiative will be recorded in the Corporate segment as these decisions are predominantly centrally directed and controlled and are not included in internal measures of segment operating performance.

This Current Report on Form 8-K contains forward-looking statements (as that term is defined in the U.S. Private Securities Litigation Reform Act of 1995 or by the Securities and Exchange Commission ("SEC") in its rules, regulations and releases) about the 2022 Global Productivity Initiative. These statements are made on the basis of the Company's views and assumptions as of this time and the Company undertakes no obligation to update these statements unless required by law. These statements are not guarantees of future performance; they involve risks and uncertainties and actual events or results may differ materially from these statements. Potential risks and uncertainties that could cause actual results to differ from expected results include, among others, whether the Company will be able to implement the 2022 Global Productivity Initiative as planned, whether the expected amount of the costs associated with the 2022 Global Productivity Initiative will exceed the Company's forecasts and whether the Company will be able to realize the full amount of estimated savings from the 2022 Global Productivity Initiative. Investors should consult the Company's filings with the SEC (including the information set forth under the caption "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2020 and subsequent filings with the SEC) for information about certain other factors that could cause such differences. Copies of these filings may be obtained upon request from the Company's Investor Relations Department or on the Company's web site at http://www.colgatepalmolive.com. --------------------------------------------------------------------------------

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits. The following exhibits are filed with this document:





Exhibit Number Description

99 Press release, dated January 28, 2022, issued by Colgate-Palmolive Company

104 Cover Page Interactive Data File (embedded within the Inline eXtensible

Business Reporting Language (Inline XBRL) document)

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