Colgate Palmolive : Condensed Consolidated Statements of Cash Flows For the Three Months Ended March 31, 2024 and 2023

					Table 3
Colgate-Palmolive Company
Condensed Consolidated Statements of Cash Flows
For the Three Months Ended March 31, 2024 and 2023
(Dollars in Millions) (Unaudited)
	2024				2023
Operating Activities
Net income including noncontrolling interests	$	729	$	414
Adjustments to reconcile Net income including noncontrolling interests to Net cash provided by operations:
Depreciation and amortization		150			128
ERISA litigation matter		-			267
Restructuring and termination benefits, net of cash		30			(7)
Stock-based compensation expense		19			14
Deferred income taxes		12			(20)
Cash effects of changes in:
Receivables		(252)			(57)
Inventories		11			(24)
Accounts payable and other accruals		8			(2)
Other non-current assets and liabilities		(26)			22
Net cash provided by (used in) operations		681			735
Investing Activities
Capital expenditures		(126)			(163)
Purchases of marketable securities and investments		(139)			(112)
Proceeds from sale of marketable securities and investments		78			14
Other investing activities		(6)			(3)
Net cash provided by (used in) investing activities		(193)			(264)

Financing Activities

Short-term borrowing (repayment) less than 90 days, net Principal payments on debt

Proceeds from issuance of debt Dividends paid

Purchases of treasury shares

Proceeds from exercise of stock options Other financing activities

Net cash provided by (used in) financing activities

Effect of exchange rate changes on Cash and cash equivalents Net increase (decrease) in Cash and cash equivalents

Cash and cash equivalents at beginning of the period Cash and cash equivalents at end of the period

Supplemental Cash Flow Information

728(927)

1. (500)

• 1,495

1. (390)

1. (180)

336122

1. 5

1. (375)

	(14)			(4)
	113			92
	966			775
$	1,079	$	867

Free cash flow before dividends (Net cash provided by operations less Capital expenditures)
Net cash provided by operations	$	681	$	735
Less: Capital expenditures		(126)			(163)
Free cash flow before dividends	$	555		$	572
Income taxes paid	$	150	$	171
Interest paid	$	123	$	94