Colgate-Palmolive (CL) 10-Q 27 Oct 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	9 Months Ended
	Sep. 30, 2017shares
Document and Entity Information [Abstract]
Entity Registrant Name	COLGATE PALMOLIVE CO
Entity Central Index Key	21,665
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Amendment Flag	false
Trading Symbol	CL
Entity Common Stock, Shares Outstanding	878,105,223

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) $ in Millions		3 Months Ended				9 Months Ended
		Sep. 30, 2017USD ($)$ / shares	Mar. 31, 2017Dividend	Sep. 30, 2016USD ($)$ / shares	Mar. 31, 2016Dividend	Sep. 30, 2017USD ($)$ / shares	Sep. 30, 2016USD ($)$ / shares
Income Statement [Abstract]
Net sales		$ 3,974		$ 3,867		$ 11,562	$ 11,474
Cost of sales		1,591		1,543		4,610	4,598
Gross profit		2,383		2,324		6,952	6,876
Selling, general and administrative expenses		1,429		1,322		4,124	3,996
Other (income) expense, net		27		(69)		163	(2)
Operating profit		927		1,071		2,665	2,882
Interest (income) expense, net		27		25		74	78
Income before income taxes		900		1,046		2,591	2,804
Provision for income taxes		250		300		770	846
Net income including noncontrolling interests		650		746		1,821	1,958
Less: Net income attributable to noncontrolling interests		43		44		120	123
Net income attributable to Colgate-Palmolive Company		$ 607		$ 702		$ 1,701	$ 1,835
Earnings per common share, basic (in dollars per share) | $ / shares		$ 0.69		$ 0.79		$ 1.93	$ 2.05
Earnings per common share, diluted (in dollars per share) | $ / shares		0.68		0.78		1.91	2.04
Dividends declared per common share (in dollars per share) | $ / shares	[1]	$ 0.40		$ 0.39		$ 1.59	$ 1.55
Number of dividends declared per quarter (in dividends) | Dividend			2		2
[1]	Two dividends were declared in the first quarter of 2017 and 2016.

CONDENSED CONSOLIDATED STATEME3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Statement of Comprehensive Income [Abstract]
Net income including noncontrolling interests	$ 650	$ 746	$ 1,821	$ 1,958
Other comprehensive income (loss), net of tax:
Cumulative translation adjustments	64	0	294	83
Retirement plans and other retiree benefit adjustments	54	16	79	39
Gains (losses) on available-for-sale securities	0	(1)	0	(1)
Gains (losses) on cash flow hedges	(3)	1	(16)	(3)
Total Other comprehensive income (loss), net of tax	115	16	357	118
Total Comprehensive income including noncontrolling interests	765	762	2,178	2,076
Less: Net income attributable to noncontrolling interests	43	44	120	123
Less: Cumulative translation adjustments attributable to noncontrolling interests	2	2	11	(3)
Total Comprehensive income attributable to noncontrolling interests	45	46	131	120
Total Comprehensive income attributable to Colgate-Palmolive Company	$ 720	$ 716	$ 2,047	$ 1,956

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Current Assets
Cash and cash equivalents	$ 1,380	$ 1,315
Receivables (net of allowances of $82 and $73, respectively)	1,530	1,411
Inventories	1,205	1,171
Other current assets	621	441
Total current assets	4,736	4,338
Property, plant and equipment:
Cost	8,419	7,942
Less: Accumulated depreciation	(4,420)	(4,102)
Property, plant and equipment, net	3,999	3,840
Goodwill	2,216	2,107
Other intangible assets, net	1,343	1,313
Deferred income taxes	265	301
Other assets	216	224
Total assets	12,775	12,123
Current Liabilities
Notes and loans payable	7	13
Current portion of long-term debt	0	0
Accounts payable	1,164	1,124
Accrued income taxes	391	441
Other accruals	2,292	1,727
Total current liabilities	3,854	3,305
Long-term debt	6,520	6,520
Deferred income taxes	196	246
Other liabilities	1,938	2,035
Total liabilities	12,508	12,106
Shareholders’ Equity
Common stock	1,466	1,466
Additional paid-in capital	1,932	1,691
Retained earnings	20,207	19,922
Accumulated other comprehensive income (loss)	(3,834)	(4,180)
Unearned compensation	(1)	(7)
Treasury stock, at cost	(19,878)	(19,135)
Total Colgate-Palmolive Company shareholders’ equity	(108)	(243)
Noncontrolling interests	375	260
Total equity	267	17
Total liabilities and equity	$ 12,775	$ 12,123

CONDENSED CONSOLIDATED BALANCE5

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parentheticals) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 82	$ 73

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Operating Activities
Net income including noncontrolling interests	$ 1,821	$ 1,958
Adjustments to reconcile net income including noncontrolling interests to net cash provided by operations:
Depreciation and amortization	354	329
Restructuring and termination benefits, net of cash	80	(1)
Stock-based compensation expense	106	102
Gain on sale of land in Mexico	0	(97)
Deferred income taxes	(2)	50
Voluntary benefit plan contributions	(81)	(53)
Cash effects of changes in:
Receivables	(50)	(126)
Inventories	16	4
Accounts payable and other accruals	39	101
Other non-current assets and liabilities	12	50
Net cash provided by operations	2,295	2,317
Investing Activities
Capital expenditures	(382)	(392)
Purchases of marketable securities and investments	(301)	(271)
Proceeds from sale of marketable securities and investments	149	158
Proceeds from sale of land in Mexico	0	60
Other	2	0
Net cash used in investing activities	(532)	(445)
Financing Activities
Principal payments on debt	(3,551)	(5,446)
Proceeds from issuance of debt	3,478	5,447
Dividends paid	(1,070)	(1,053)
Purchases of treasury shares	(1,055)	(913)
Proceeds from exercise of stock options	431	418
Net cash used in financing activities	(1,767)	(1,547)
Effect of exchange rate changes on Cash and cash equivalents	69	3
Net increase (decrease) in Cash and cash equivalents	65	328
Cash and cash equivalents at beginning of the period	1,315	970
Cash and cash equivalents at end of the period	1,380	1,298
Supplemental Cash Flow Information
Income taxes paid	$ 820	$ 696

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The Condensed Consolidated Financial Statements reflect all normal recurring adjustments which, in management’s opinion, are necessary for a fair statement of the results for interim periods. Results of operations for interim periods may not be representative of results to be expected for a full year. Colgate-Palmolive Company (together with its subsidiaries, the “Company” or “Colgate”) reclassifies certain prior year amounts, as applicable, to conform to the current year presentation. For a complete set of financial statement notes, including the Company’s significant accounting policies, refer to the Company’s Annual Report on Form 10-K for the year ended December 31, 2016 , filed with the Securities and Exchange Commission.

Use of Estimates

Use of Estimates	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates Provisions for certain expenses, including income taxes, media advertising and consumer promotion, are based on full year assumptions and are included in the accompanying Condensed Consolidated Financial Statements in proportion with estimated annual tax rates, the passage of time or estimated annual sales.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	9 Months Ended
	Sep. 30, 2017
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements On August 28, 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2017-12, “Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities,” amending the eligibility criteria for hedged items and transactions to expand an entity’s ability to hedge nonfinancial and financial risk components. The new guidance eliminates the requirement to separately measure and present hedge ineffectiveness and aligns the presentation of hedge gains and losses with the underlying hedge item. The new guidance also simplifies the hedge documentation and hedge effectiveness assessment requirements. The new guidance is effective for the Company beginning on January 1, 2019, with early adoption permitted. The amended presentation and disclosure requirements must be adopted on a prospective basis, while any amendments to cash flow and net investment hedge relationships that exist on the date of adoption must be applied on a “modified retrospective” basis, meaning a cumulative effect adjustment to the opening balance of retained earnings as of the beginning of the year of adoption. While the Company is currently assessing the impact of the new standard on its Consolidated Financial Statements, this new guidance is not expected to have a material impact on the Company’s Consolidated Financial Statements. On May 10, 2017, the FASB issued ASU No. 2017-09, “Compensation–Stock Compensation (Topic 718): Scope of Modification Accounting,” clarifying when a change to the terms or conditions of a share-based payment award must be accounted for as a modification. The new guidance requires modification accounting if the fair value, vesting condition or the classification of the award is not the same immediately before and after a change to the terms and conditions of the award. The new guidance is effective for the Company on a prospective basis beginning on January 1, 2018, with early adoption permitted. This new guidance is not expected to have an impact on the Company’s Consolidated Financial Statements as it is not the Company’s practice to change either the terms or conditions of share-based payment awards once they are granted. On March 10, 2017, the FASB issued ASU No. 2017-07, “Compensation–Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost,” changing the presentation of the net periodic benefit cost on the Statement of Income and limiting the amount of net periodic benefit cost eligible for capitalization to assets. The new guidance permits only the service cost component of net periodic benefit cost to be eligible for capitalization. The new guidance also requires entities to present the service cost component of net periodic benefit cost together with compensation costs arising from services rendered by employees during the period. Other components of net periodic benefit cost, which include interest, expected return on assets, amortization of prior service costs and actuarial gains and losses, are required to be presented outside of Operating profit. The line item or items used to present the other components of net periodic benefit cost must be disclosed in the Notes to the Consolidated Financial Statements, if not separately described on the Statement of Income. The new presentation requirement is required to be adopted on a “full retrospective” basis, meaning the standard is applied to all of the periods presented in the financial statements, while the limitation on capitalization can only be adopted on a prospective basis. The new guidance is effective for the Company beginning on January 1, 2018, with early adoption permitted. While the Company is currently assessing the impact of the new standard on its Consolidated Financial Statements, based on its historical results, it anticipates that, as a result of the reclassification, full year Operating profit will increase by approximately $100 annually with no impact on Net income attributable to Colgate-Palmolive Company. On January 26, 2017, the FASB issued ASU No. 2017-04, “Intangibles–Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment,” eliminating the requirement to calculate the implied fair value, essentially eliminating step two from the goodwill impairment test. The new standard requires goodwill impairment to be based upon the results of step one of the impairment test, which is defined as the excess of the carrying value of a reporting unit over its fair value. The impairment charge will be limited to the amount of goodwill allocated to that reporting unit. The standard is effective for the Company on a prospective basis beginning on January 1, 2020, with early adoption permitted. This new guidance is not expected to have a material impact on the Company’s Consolidated Financial Statements. On January 5, 2017, the FASB issued ASU No. 2017-01, “Business Combinations (Topic 805): Clarifying the Definition of a Business,” which provides additional guidance on evaluating whether transactions should be accounted for as acquisitions of assets or businesses. The guidance requires an entity to evaluate if substantially all of the fair value of the assets acquired is concentrated in a single identifiable asset or a group of similar identifiable assets. If this threshold is met, the new guidance would define this as an asset acquisition; otherwise, the entity then evaluates whether the asset meets the requirement that a business include, at a minimum, an input and substantive process that together significantly contribute to the ability to create outputs. The guidance is effective for the Company on a prospective basis beginning on January 1, 2018, with early adoption permitted. This new guidance is not expected to have a material impact on the Company’s Consolidated Financial Statements. On October 24, 2016, the FASB issued ASU No. 2016-16, “Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other than Inventory,” which eliminates the requirement to defer recognition of income taxes on intra-entity asset transfers until the asset is sold to an outside party. The new guidance requires the recognition of current and deferred income taxes on intra-entity transfers of assets other than inventory, such as intellectual property and property, plant and equipment, when the transfer occurs. As permitted, the Company early-adopted the new standard on a “modified retrospective” basis, meaning the standard is applied only to the most recent period presented in the financial statements, as of January 1, 2017. This new guidance did not have a material impact on the Company’s Consolidated Financial Statements. On August 26, 2016, the FASB issued ASU No. 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments,” which clarifies how certain cash receipts and payments are to be presented in the statement of cash flows. The guidance is effective for the Company beginning on January 1, 2018, with early adoption permitted. This new guidance is not expected to have a material impact on the Company’s Consolidated Financial Statements. On March 30, 2016, the FASB issued ASU No. 2016-09, “Compensation–Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting,” which amended accounting for income taxes related to share-based compensation, the related classification in the statement of cash flows and share award forfeiture accounting. The new guidance was effective for the Company beginning on January 1, 2017. As required subsequent to the adoption of this new guidance, the Company recognized excess tax benefits of $17 and $43 (resulting from an increase in the fair value of an award from grant date to the vesting or exercise date, as applicable) in the Provision for income taxes as a discrete item during the three and nine months ended September 30, 2017 , respectively. These amounts may not necessarily be indicative of future amounts that may be recognized as any excess tax benefits recognized would be dependent on future stock price, employee exercise behavior and applicable tax rates. Prior to January 1, 2017, excess tax benefits were recognized in equity. As permitted, the Company elected to classify excess tax benefits as an operating activity in the Statement of Cash Flows instead of as a financing activity on a prospective basis and did not retrospectively adjust prior periods. Also, as permitted by the new standard, the Company elected to account for forfeitures as they occur. On March 15, 2016, the FASB issued ASU No. 2016-07, “Investments–Equity Method and Joint Ventures (Topic 323): Simplifying the Transition to the Equity Method of Accounting,” which eliminated the requirement to retroactively adjust an investment that subsequently qualifies for equity method accounting (as a result of an increase in level of ownership interest or degree of influence) as if the equity method of accounting had been applied during all prior periods that the investment was held. The new standard requires that the investor add the cost of acquiring additional ownership interest in the investee to its current basis and prospectively apply the equity method of accounting. For an available-for-sale investment, any unrealized gains or losses should be recognized in earnings at the date the investment qualifies as an equity method investment. The new guidance was effective for the Company beginning on January 1, 2017, and did not have a material impact on the Company’s Consolidated Financial Statements. On February 25, 2016, the FASB issued its final standard on lease accounting, ASU No. 2016-02, “Leases (Topic 842),” which supersedes Topic 840, “Leases.” The new accounting standard requires the recognition of right-of-use assets and lease liabilities for all long-term leases, including operating leases, on the balance sheet. The new standard also provides additional guidance on the measurement of the right-of-use assets and lease liabilities and will require enhanced disclosures about the Company’s leasing arrangements. Under current accounting standards, substantially all of the Company’s leases are considered operating leases and, as such, are not recognized on the Consolidated Balance Sheet. This new standard is effective for the Company beginning on January 1, 2019, with early adoption permitted. The standard requires a “modified retrospective” adoption, meaning the standard is applied to leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The Company is currently assessing the impact of the new standard on its Consolidated Financial Statements. On January 5, 2016, the FASB issued ASU No. 2016-01, “Financial Instruments–Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities.” The updated guidance enhances the reporting model for financial instruments which includes amendments to address aspects of recognition, measurement, presentation and disclosure. The amendment to the standard is effective for the Company beginning on January 1, 2018. While the Company is currently assessing the impact of the new standard, it does not expect this new guidance to have a material impact on its Consolidated Financial Statements. On July 22, 2015, the FASB issued ASU No. 2015-11, “Inventory (Topic 330): Simplifying the Measurement of Inventory,” which simplifies the subsequent measurement of inventories by replacing the lower of cost or market test with a lower of cost and net realizable value test. The guidance applies only to inventories for which cost is determined by methods other than last-in first-out (“LIFO”) and the retail inventory method. The new guidance was effective for the Company beginning on January 1, 2017. This new guidance did not have a material impact on the Company’s Consolidated Financial Statements. On May 28, 2014, the FASB and the International Accounting Standards Board issued their final converged standard on revenue recognition. The standard, issued as ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606)” by the FASB, provides a comprehensive revenue recognition model for all contracts with customers and supersedes current revenue recognition guidance. The revenue standard contains principles that an entity will apply to determine the measurement of revenue and timing of when it is recognized. The underlying principle is that an entity will recognize revenue to depict the transfer of goods or services to its customers at an amount that the entity expects to be entitled to in exchange for those goods or services. The new standard also includes enhanced disclosures. During 2016, the FASB issued several accounting updates (ASU No. 2016-08, 2016-10 and 2016-12) to clarify implementation guidance and correct unintended application of the guidance. The standard allows for either full retrospective adoption or modified retrospective adoption. The Company plans to adopt the new standard on January 1, 2018, on a “modified retrospective” basis. The Company has substantially completed its assessment of the new standard and continues to make progress on its implementation. Based on the progress to date, the Company does not expect the new standard will have a material impact on its revenue recognition accounting policy or its Consolidated Financial Statements.

Restructuring and Related Imple

Restructuring and Related Implementation Charges	9 Months Ended
	Sep. 30, 2017
Restructuring and Related Activities [Abstract]
Restructuring and Related Implementation Charges	Restructuring and Related Implementation Charges In the fourth quarter of 2012, the Company commenced a restructuring program (as subsequently expanded, as described below, the “Global Growth and Efficiency Program”) for sustained growth. The program’s initiatives are expected to help Colgate ensure sustained solid worldwide growth in unit volume, organic sales, operating profit and earnings per share and enhance its global leadership positions in its core businesses. On October 23, 2014, the Company’s Board of Directors (the “Board”) approved an expansion of the Global Growth and Efficiency Program to take advantage of additional savings opportunities. On October 29, 2015, the Board approved the reinvestment of the funds from the sale of the Company’s laundry detergent business in the South Pacific to expand the Global Growth and Efficiency Program and extend it for one year through December 31, 2017. The Board approved the implementation plan for this expansion on March 10, 2016. Building on the Company’s successful implementation of the Global Growth and Efficiency Program to date, on October 26, 2017, the Board approved an expansion of the Global Growth and Efficiency Program and an extension of the program through December 31, 2019 to take advantage of additional opportunities to streamline the Company’s operations. Initiatives under the Global Growth and Efficiency Program continue to fit within the program’s three focus areas of expanding commercial hubs, extending shared business services and streamlining global functions and optimizing the global supply chain and facilities. As a result of the expansion, cumulative pretax charges resulting from the Global Growth and Efficiency Program, once all phases are approved and implemented, are now estimated to be in the range of $1,730 to $1,885 ( $1,280 to $1,380 aftertax) as compared to the previous estimate of $1,500 to $1,585 ( $1,120 to $1,170 aftertax). The Company now anticipates that pretax charges for 2017 will approximate $340 to $380 ( $250 to $280 aftertax) as compared to the previous estimate of $275 to $360 ( $210 to $260 aftertax). It is expected that substantially all charges resulting from the Global Growth and Efficiency Program will be incurred by December 31, 2019 . The pretax charges resulting from the Global Growth and Efficiency Program are currently estimated to be comprised of the following categories: Employee-Related Costs, including severance, pension and other termination benefits ( 50% ); asset-related costs, primarily Incremental Depreciation and Asset Impairments ( 10% ); and Other charges, which include contract termination costs, consisting primarily of related implementation charges resulting directly from exit activities ( 20% ) and the implementation of new strategies ( 20% ). Over the course of the Global Growth and Efficiency Program, it is currently estimated that approximately 80% of the charges will result in cash expenditures. The Company currently expects that the cumulative pretax charges, once all projects are approved and implemented, will relate to initiatives undertaken in North America ( 15% ), Europe ( 20% ), Latin America ( 5% ), Asia Pacific ( 5% ), Africa/Eurasia ( 5% ), Hill’s Pet Nutrition ( 10% ) and Corporate ( 40% ), which includes substantially all of the costs related to the implementation of new strategies, noted above, on a global basis. The Company now expects that, when it has been fully implemented, the Global Growth and Efficiency Program will contribute a net reduction of approximately 3,800 to 4,400 positions from the Company’s global employee workforce. For the three and nine months ended September 30, 2017 and 2016 , restructuring and related implementation charges are reflected in the Condensed Consolidated Statements of Income as follows: Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Cost of sales $ 16 $ 11 $ 51 $ 31 Selling, general and administrative expenses 22 9 60 49 Other (income) expense, net 20 22 135 76 Total Global Growth and Efficiency Program charges, pretax $ 58 $ 42 $ 246 $ 156 Total Global Growth and Efficiency Program charges, aftertax $ 39 $ 32 $ 185 $ 114 Restructuring and related implementation charges in the preceding table are recorded in the Corporate segment as these initiatives are predominantly centrally directed and controlled and are not included in internal measures of segment operating performance. Total charges incurred for the Global Growth and Efficiency Program relate to initiatives undertaken by the following reportable operating segments: Three Months Ended Nine Months Ended Program-to-date September 30, September 30, Accumulated Charges 2017 2016 2017 2016 North America 27 % 30 % 23 % 32 % 18 % Latin America 2 % 3 % 3 % 5 % 3 % Europe (11 )% 19 % 29 % 10 % 23 % Asia Pacific 7 % 4 % 4 % 6 % 3 % Africa/Eurasia 2 % 12 % 2 % 14 % 6 % Hill ’ s Pet Nutrition 9 % 5 % 5 % 8 % 7 % Corporate 64 % 27 % 34 % 25 % 40 % Since the inception of the Global Growth and Efficiency Program in the fourth quarter of 2012, the Company has incurred cumulative pretax charges of $1,474 ( $1,092 aftertax) in connection with the implementation of various projects as follows: Cumulative Charges as of September 30, 2017 Employee-Related Costs $ 594 Incremental Depreciation 88 Asset Impairments 29 Other 763 Total $ 1,474 The majority of costs incurred since inception relate to the following projects: the implementation of the Company’s overall hubbing strategy; the extension of shared business services and streamlining of global functions; the consolidation of facilities; the closing of the Morristown, New Jersey personal care facility; the simplification and streamlining of the Company’s research and development capabilities and oral care supply chain, both in Europe; redesigning the European commercial organization; restructuring how the Company will provide future retirement benefits to substantially all of the U.S.-based employees participating in the Company’s defined benefit retirement plan by shifting them to the Company’s defined contribution plan. The following tables summarize the activity for the restructuring and related implementation charges discussed above and the related accruals: Three Months Ended September 30, 2017 Employee-Related Costs Incremental Depreciation Asset Impairments Other Total Balance at June 30, 2017 $ 138 $ — $ — $ 116 $ 254 Charges 21 2 — 35 58 Cash payments (16 ) — — (42 ) (58 ) Charges against assets (15 ) (2 ) — — (17 ) Foreign exchange — — — — — Balance at September 30, 2017 $ 128 $ — $ — $ 109 $ 237 Nine Months Ended September 30, 2017 Employee-Related Incremental Asset Other Total Balance at December 31, 2016 $ 56 $ — $ — $ 125 $ 181 Charges 129 8 2 107 246 Cash payments (43 ) — — (124 ) (167 ) Charges against assets (17 ) (8 ) (2 ) — (27 ) Foreign exchange 3 — — 1 4 Balance at September 30, 2017 $ 128 $ — $ — $ 109 $ 237 Employee-Related Costs primarily include severance and other termination benefits and are calculated based on long-standing benefit practices, local statutory requirements and, in certain cases, voluntary termination arrangements. Employee-Related Costs also include pension and other retiree benefit enhancements amounting to $15 and $ 17 for the three and nine months ended September 30, 2017 , respectively, which are reflected as Charges against assets within Employee-Related Costs in the preceding tables as the corresponding balance sheet amounts are reflected as a reduction of pension assets or an increase in pension and other retiree benefit liabilities (see Note 9 , Retirement Plans and Other Retiree Benefits ). Incremental Depreciation is recorded to reflect changes in useful lives and estimated residual values for long-lived assets that will be taken out of service prior to the end of their normal service period. Asset Impairments are recorded to write down assets held for sale or disposal to their fair value based on amounts expected to be realized. Charges against assets within Asset Impairments are net of cash proceeds pertaining to the sale of certain assets. Other charges consist primarily of charges resulting directly from exit activities and the implementation of new strategies as a result of the Global Growth and Efficiency Program. These charges for the three and nine months ended September 30, 2017 include third-party incremental costs related to the development and implementation of new business and strategic initiatives of $ 33 and $ 103 , respectively, and contract termination costs and charges resulting directly from exit activities of $ 2 and $4 , respectively. These charges were expensed as incurred.

Inventories

Inventories	9 Months Ended
	Sep. 30, 2017
Inventory, Net, Items Net of Reserve Alternative [Abstract]
Inventories	Inventories Inventories by major class are as follows: September 30, December 31, Raw materials and supplies $ 249 $ 266 Work-in-process 47 42 Finished goods 909 863 Total Inventories $ 1,205 $ 1,171

Shareholders' Equity

Shareholders' Equity	9 Months Ended
	Sep. 30, 2017
Stockholders' Equity Note [Abstract]
Shareholders' Equity	Shareholders’ Equity Changes in the components of Shareholders’ Equity for the nine months ended September 30, 2017 are as follows: Colgate-Palmolive Company Shareholders’ Equity Noncontrolling Interests Common Stock Additional Paid-in Capital Unearned Compensation Treasury Stock Retained Earnings Accumulated Other Comprehensive Income (Loss) Balance, December 31, 2016 $ 1,466 $ 1,691 $ (7 ) $ (19,135 ) $ 19,922 $ (4,180 ) $ 260 Net income 1,701 120 Other comprehensive income (loss), net of tax 346 11 Dividends (1,406 ) (16 ) Stock-based compensation expense 106 Shares issued for stock options 166 274 Shares issued for restricted stock units (33 ) 33 Treasury stock acquired (1,055 ) Other 2 6 5 (10 ) Balance, September 30, 2017 $ 1,466 $ 1,932 $ (1 ) $ (19,878 ) $ 20,207 $ (3,834 ) $ 375 Accumulated other comprehensive income (loss) includes cumulative translation losses of $ 2,929 and $ 3,212 at September 30, 2017 and December 31, 2016 , respectively, and unrecognized retirement plan and other retiree benefits costs of $ 898 and $ 977 at September 30, 2017 and December 31, 2016 , respectively.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2017
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Three Months Ended September 30, 2017 September 30, 2016 Net income attributable to Colgate-Palmolive Company Shares (millions) Per Share Net income attributable to Colgate-Palmolive Company Shares (millions) Per Share Basic EPS $ 607 880.7 $ 0.69 $ 702 891.9 $ 0.79 Stock options and restricted stock units 5.6 7.3 Diluted EPS $ 607 886.3 $ 0.68 $ 702 899.2 $ 0.78 For the three months ended September 30, 2017 and 2016 , the average number of stock options and restricted stock units that were anti-dilutive and not included in diluted earnings per share calculations were 9,502,329 and 1,980,457 , respectively. Nine Months Ended September 30, 2017 September 30, 2016 Net income attributable to Colgate-Palmolive Company Shares (millions) Per Share Net income attributable to Colgate-Palmolive Company Shares (millions) Per Share Basic EPS $ 1,701 883.0 $ 1.93 $ 1,835 893.2 $ 2.05 Stock options and restricted stock units 6.3 7.0 Diluted EPS $ 1,701 889.3 $ 1.91 $ 1,835 900.2 $ 2.04 For the nine months ended September 30, 2017 and 2016 , the average number of stock options and restricted stock units that were anti-dilutive and not included in diluted earnings per share calculations were 9,209,060 and 1,212,685 , respectively. Basic and diluted earnings per share are computed independently for each quarter and any year-to-date period presented. As a result of changes in shares outstanding during the year and rounding, the sum of the quarters ’ earnings per share may not necessarily equal the earnings per share for any year-to-date period.

Other Comprehensive Income (Los

Other Comprehensive Income (Loss)	9 Months Ended
	Sep. 30, 2017
Equity [Abstract]
Other Comprehensive Income (Loss)	Other Comprehensive Income (Loss) Additions to and reclassifications out of Accumulated other comprehensive income (loss) attributable to the Company for the three months ended September 30, 2017 and 2016 were as follows: 2017 2016 Pretax Net of Tax Pretax Net of Tax Cumulative translation adjustments $ 48 $ 62 $ (10 ) $ (2 ) Retirement plans and other retiree benefits: Net actuarial gain (loss) and prior service costs arising during the period 72 45 9 7 Amortization of net actuarial loss, transition and prior service costs (1) 15 9 15 9 Retirement plans and other retiree benefits adjustments 87 54 24 16 Available-for-sale securities: Unrealized gains (losses) on available-for-sale securities — — — — Reclassification of (gains) losses into net earnings on available-for-sale securities — — (1 ) (1 ) Gains (losses) on available-for-sale securities — — (1 ) (1 ) Cash flow hedges: Unrealized gains (losses) on cash flow hedges (8 ) (5 ) 1 — Reclassification of (gains) losses into net earnings on cash flow hedges (2) 4 2 1 1 Gains (losses) on cash flow hedges (4 ) (3 ) 2 1 Total Other comprehensive income (loss) $ 131 $ 113 $ 15 $ 14 (1) These components of Other comprehensive income (loss) are included in the computation of total pension cost. See Note 9 , Retirement Plans and Other Retiree Benefits for additional details. (2) These (gains) losses are reclassified into Cost of sales. See Note 13 , Fair Value Measurements and Financial Instruments for additional details. There were no tax impacts on Other comprehensive income (loss) attributable to Noncontrolling interests. Additions to and reclassifications out of Accumulated other comprehensive income (loss) attributable to the Company for the nine months ended September 30, 2017 and 2016 were as follows: 2017 2016 Pretax Net of Tax Pretax Net of Tax Cumulative translation adjustments $ 208 $ 283 $ 76 $ 86 Retirement plans and other retiree benefits: Net actuarial gain (loss) and prior service costs arising during the period 72 45 9 7 Amortization of net actuarial loss, transition and prior service costs (1) 52 34 47 32 Retirement plans and other retiree benefits adjustments 124 79 56 39 Available-for-sale securities: Unrealized gains (losses) on available-for-sale securities — — — — Reclassification of (gains) losses into net earnings on available-for-sale securities — — (1 ) (1 ) Gains (losses) on available-for-sale securities — — (1 ) (1 ) Cash flow hedges: Unrealized gains (losses) on cash flow hedges (28 ) (17 ) (6 ) (4 ) Reclassification of (gains) losses into net earnings on cash flow hedges (2) 2 1 1 1 Gains (losses) on cash flow hedges (26 ) (16 ) (5 ) (3 ) Total Other comprehensive income (loss) $ 306 $ 346 $ 126 $ 121 (1) These components of Other comprehensive income (loss) are included in the computation of total pension cost. See Note 9 , Retirement Plans and Other Retiree Benefits for additional details. (2) These (gains) losses are reclassified into Cost of sales. See Note 13 , Fair Value Measurements and Financial Instruments for additional details. There were no tax impacts on Other comprehensive income (loss) attributable to Noncontrolling interests.

Retirement Plans and Other Reti

Retirement Plans and Other Retiree Benefits	9 Months Ended
	Sep. 30, 2017
Retirement Benefits [Abstract]
Retirement Plans and Other Retiree Benefits	Retirement Plans and Other Retiree Benefits Components of Net periodic benefit cost for the three and nine months ended September 30, 2017 and 2016 were as follows: Pension Benefits Other Retiree Benefits United States International Three Months Ended September 30, 2017 2016 2017 2016 2017 2016 Service cost $ — $ — $ 4 $ 4 $ 3 $ 4 Interest cost 23 27 6 7 9 10 ESOP offset — — — — (1 ) — Expected return on plan assets (28 ) (27 ) (5 ) (6 ) — — Amortization of transition and prior service costs (credits) — — — — — — Amortization of actuarial loss (gain) 12 10 2 2 1 3 Net periodic benefit cost $ 7 $ 10 $ 7 $ 7 $ 12 $ 17 Pension Benefits Other Retiree Benefits United States International Nine Months Ended September 30, 2017 2016 2017 2016 2017 2016 Service cost $ 1 $ 1 $ 11 $ 12 $ 11 $ 10 Interest cost 70 80 16 19 30 32 ESOP offset — — — — (1 ) (1 ) Expected return on plan assets (83 ) (82 ) (15 ) (17 ) — — Amortization of transition and prior service costs (credits) — — — — — — Amortization of actuarial loss (gain) 36 30 7 6 9 11 Net periodic benefit cost $ 24 $ 29 $ 19 $ 20 $ 49 $ 52 For the nine months ended September 30, 2017 and 2016 , the Company made voluntary contributions to its U.S. postretirement plans of $ 81 and $53 , respectively.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2017
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes On March 30, 2016, the FASB issued ASU No. 2016-09, “Compensation–Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting,” which amended accounting for income taxes related to share-based compensation. As a result of adopting the standard effective January 1, 2017, the Company recognized excess tax benefits of $17 and $43 (resulting from an increase in the fair value of an award from the grant date to the vesting or exercise date, as applicable) in the Provision for income taxes as a discrete item during the three and nine months ended September 30, 2017 , respectively. These amounts may not necessarily be indicative of future amounts that may be recognized as any excess tax benefits recognized would be dependent on future stock price, employee exercise behavior and applicable tax rates. Prior to January 1, 2017, excess tax benefits were recognized in equity. See Note 3 , Recent Accounting Pronouncements for additional information. The Company has taken a tax position in a foreign jurisdiction since 2002 that has been challenged by the local tax authorities. In May 2015, the Company became aware of several rulings by the Supreme Court in this foreign jurisdiction disallowing certain tax deductions which had the effect of reversing prior decisions. The Company had taken deductions in prior years similar to those disallowed by such court and as a result, as required, reassessed its tax position and increased its unrecognized tax benefits in 2015. During the quarter ended June 30, 2016, the Supreme Court in this foreign jurisdiction decided the matter in the Company’s favor for the years 2002 through 2005 and, as a result, the Company recorded a net tax benefit of $13 , including interest. During the quarter ended September 30, 2016 , the Administrative Court in this jurisdiction also decided the matter in the Company’s favor for the years 2008 through 2011 by acknowledging the Supreme Court’s ruling for the years 2002 through 2005, which eliminated the possibility for future appeals. As a result, the Company recorded a tax benefit of $ 17 , including interest, in the quarter ended September 30, 2016 . The tax benefit of deductions related to this tax position taken for the years 2006 through 2007 and 2012 through 2014 totals approximately $15 at current exchange rates. These deductions are currently being challenged by the tax authorities either in the lower courts or at the administrative level and, if resolved in the Company’s favor, will result in the Company recording additional tax benefits, including interest.

Contingencies

Contingencies	9 Months Ended
	Sep. 30, 2017
Loss Contingency [Abstract]
Contingencies	Contingencies As a global company serving consumers in more than 200 countries and territories, the Company is routinely subject to a wide variety of legal proceedings. These include disputes relating to intellectual property, contracts, product liability, marketing, advertising, foreign exchange controls, antitrust and trade regulation, as well as labor and employment, pension, privacy, environmental and tax matters and consumer class actions. Management proactively reviews and monitors the Company’s exposure to, and the impact of, environmental matters. The Company is party to various environmental matters and, as such, may be responsible for all or a portion of the cleanup, restoration and post-closure monitoring of several sites. The Company establishes accruals for loss contingencies when it has determined that a loss is probable and that the amount of loss, or range of loss, can be reasonably estimated. Any such accruals are adjusted thereafter as appropriate to reflect changes in circumstances. The Company also determines estimates of reasonably possible losses or ranges of reasonably possible losses in excess of related accrued liabilities, if any, when it has determined that a loss is reasonably possible and it is able to determine such estimates. For those matters disclosed below for which the amount of any potential losses can be reasonably estimated, the Company currently estimates that the aggregate range of reasonably possible losses in excess of any accrued liabilities is $0 to approximately $250 (based on current exchange rates). The estimates included in this amount are based on the Company’s analysis of currently available information and, as new information is obtained, these estimates may change. Due to the inherent subjectivity of the assessments and the unpredictability of outcomes of legal proceedings, any amounts accrued or included in this aggregate amount may not represent the ultimate loss to the Company. Thus, the Company’s exposure and ultimate losses may be higher or lower, and possibly significantly so, than the amounts accrued or the range disclosed above. Based on current knowledge, management does not believe that the ultimate resolution of loss contingencies arising from the matters discussed herein will have a material effect on the Company’s consolidated financial position or its ongoing results of operations or cash flows. However, in light of the inherent uncertainties noted above, an adverse outcome in one or more matters could be material to the Company’s results of operations or cash flows for any particular quarter or year. Brazilian Matters There are certain tax and civil proceedings outstanding, as described below, related to the Company ’ s 1995 acquisition of the Kolynos oral care business from Wyeth (the “ Seller ” ). The Brazilian internal revenue authority has disallowed interest deductions and foreign exchange losses taken by the Company’s Brazilian subsidiary for certain years in connection with the financing of the Kolynos acquisition. The tax assessments with interest, penalties and any court-mandated fees, at the current exchange rate, are approximately $171 . This amount includes additional assessments received from the Brazilian internal revenue authority in April 2016 relating to net operating loss carryforwards used by the Company’s Brazilian subsidiary to offset taxable income that had also been deducted from the authority’s original assessments. The Company has been disputing the disallowances by appealing the assessments since October 2001. Appeals are currently pending at the administrative level. In the event the Company is ultimately unsuccessful in its administrative appeals, further appeals are available within the Brazilian federal courts. In September 2015, the Company lost one of its appeals at the administrative level and filed a lawsuit in Brazilian federal court. In February 2017, the Company lost an additional administrative appeal and filed a similar action in Brazilian federal court. Although there can be no assurances, management believes, based on the opinion of its Brazilian legal counsel, that the disallowances are without merit and that the Company should ultimately prevail. The Company is challenging these disallowances vigorously. In July 2002, the Brazilian Federal Public Attorney filed a civil action against the federal government of Brazil, Laboratorios Wyeth-Whitehall Ltda. (the Brazilian subsidiary of the Seller) and the Company, as represented by its Brazilian subsidiary, in the 6th. Lower Federal Court in the City of São Paulo, seeking to annul an April 2000 decision by the Brazilian Board of Tax Appeals that found in favor of the Seller’s Brazilian subsidiary on the issue of whether it had incurred taxable capital gains as a result of the divestiture of Kolynos. The action seeks to make the Company’s Brazilian subsidiary jointly and severally liable for any tax due from the Seller’s Brazilian subsidiary. The case has been pending since 2002, and the Lower Federal Court has not issued a decision. Although there can be no assurances, management believes, based on the opinion of its Brazilian legal counsel, that the Company should ultimately prevail in this action. The Company is challenging this action vigorously. In December 2005, the Brazilian internal revenue authority issued to the Company’s Brazilian subsidiary a tax assessment with interest, penalties and any court-mandated fees of approximately $77 , at the current exchange rate, based on a claim that certain purchases of U.S. Treasury bills by the subsidiary and their subsequent disposition during the period 2000 to 2001 were subject to a tax on foreign exchange transactions. The Company had been disputing the assessment within the internal revenue authority’s administrative appeals process. However, in November 2015, the Superior Chamber of Administrative Tax Appeals denied the Company’s final administrative appeal and the Company has filed a lawsuit in the Brazilian federal court. In the event the Company is unsuccessful in this filing, further appeals are available within the Brazilian federal courts. Although there can be no assurances, management believes, based on the opinion of its Brazilian legal counsel, that the tax assessment is without merit and that the Company should ultimately prevail. The Company is challenging this assessment vigorously. Competition Matters Certain of the Company’s subsidiaries have been subject to investigations, and, in some cases, fines, by governmental authorities in a number of countries related to alleged competition law violations. Substantially all of these matters also have involved other consumer goods companies and/or retail customers. These investigations often continue for several years and can result in substantial fines for violations that are found as well as associated private actions for damages. While the Company cannot predict the final financial impact of pending competition law matters, as these matters may change, the Company evaluates developments in these matters quarterly and accrues liabilities as and when appropriate. The Company’s policy is to comply with antitrust and competition laws and, if a violation of any such laws is found, to take appropriate remedial action and to cooperate fully with any related governmental inquiry. The current status of pending competition law matters as of September 30, 2017 is set forth below. ▪ In December 2014, the French competition law authority found that 13 consumer goods companies, including the Company’s French subsidiary, exchanged competitively sensitive information related to the French home care and personal care sectors, for which the Company’s French subsidiary was fined $57 . In addition, as a result of the Company’s acquisition of the Sanex personal care business in 2011 from Unilever N.V. and Unilever PLC (together with Unilever N.V., “Unilever”), pursuant to a Business and Share Sale and Purchase Agreement (the “Sale and Purchase Agreement”), the French competition law authority found that the Company’s French subsidiary, along with Hillshire Brands Company (formerly Sara Lee Corporation (“Sara Lee”)), were jointly and severally liable for fines of $25 assessed against Sara Lee’s French subsidiary. The Company is entitled to indemnification for this fine from Unilever as provided in the Sale and Purchase Agreement. The fines were confirmed by the Court of Appeal in October 2016. The Company is appealing the decision of the Court of Appeal on behalf of the Company and Sara Lee in the French Supreme Court. ▪ In July 2014, the Greek competition law authority issued a statement of objections alleging a restriction of parallel imports into Greece. The Company responded to this statement of objections. In July 2017, the Company received the decision from the Greek competition law authority in which the Company was fined $11 (based on current exchange rates), which approximates reserves previously taken by the Company for this matter. The Company is appealing the decision to the Greek courts. Talcum Powder Matters The Company has been named as a defendant in civil actions alleging that certain talcum powder products that were sold prior to 1996 were contaminated with asbestos. Most of these actions involve a number of co-defendants from a variety of different industries, including suppliers of asbestos and manufacturers of products that, unlike the Company’s products, were designed to contain asbestos. As of September 30, 2017 , there were 171 individual cases pending against the Company in state and federal courts throughout the United States, as compared to 174 cases as of June 30, 2017, 146 cases as of March 31, 2017 and 115 cases as of December 31, 2016 . During the three months ended September 30, 2017 , 22 new cases were filed and 25 cases were resolved by voluntary dismissal, appeal or settlement. During the nine months ended September 30, 2017 , 99 new cases were filed and 43 cases were resolved by voluntary dismissal, appeal or settlement. The value of settlements in the quarter and the year-to-date period presented was not material, either individually or in the aggregate, to each such period’s results of operations. A number of the pending cases are expected to go to trial in 2017. The Company believes that a significant portion of its costs incurred in defending and resolving these claims will be covered by insurance policies issued by several primary and excess insurance carriers, subject to deductibles, exclusions, retentions and policy limits. While the Company and its legal counsel believe that these cases are without merit and intend to challenge them vigorously, there can be no assurances regarding the ultimate resolution of these matters. Since the amount of any potential losses from these cases currently cannot be reasonably estimated, the range of reasonably possible losses in excess of accrued liabilities disclosed above does not include any amount relating to these cases. N8 The Company was a defendant in a lawsuit that was brought in Utah federal court by N8 Medical, Inc. (“N8 Medical”), Brigham Young University (“BYU”) and N8 Pharmaceuticals, Inc. (“N8 Pharma”). The complaint, originally filed in November 2013, alleged breach of contract and other torts arising out of the Company’s evaluation of a technology owned by BYU and licensed, at various times, to Ceragenix Pharmaceuticals, Inc., now in bankruptcy, N8 Medical and N8 Pharma. In 2016, the Company resolved the claims brought by BYU and N8 Medical. These claims were each resolved in an amount that is not material to the Company’s results of operations. In the first quarter of 2017, the court dismissed the claims of N8 Pharma and, in the third quarter of 2017, N8 Pharma appealed the decision. ERISA Matter In June 2016, a putative class action claiming that residual annuity payments made to certain participants in the Colgate-Palmolive Company Employees’ Retirement Income Plan (the “ Plan ” ) did not comply with the Employee Retirement Income Security Act was filed against the Plan, the Company and certain individuals (the “ Company Defendants ” ) in the United States District Court for the Southern District of New York. This action has been certified as a class action. The relief sought includes recalculation of benefits, pre- and post-judgment interest and attorneys’ fees. The Company is contesting this action vigorously. Since the amount of any potential loss from this case currently cannot be reasonably estimated, the range of possible losses in excess of accrued liabilities disclosed above does not include any amount relating to the case.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2017
Segment Reporting [Abstract]
Segment Information	Segment Information The Company operates in two product segments: Oral, Personal and Home Care; and Pet Nutrition. The operations of the Oral, Personal and Home Care product segment are managed geographically in five reportable operating segments: North America, Latin America, Europe, Asia Pacific and Africa/Eurasia. The Company evaluates segment performance based on several factors, including Operating profit. The Company uses Operating profit as a measure of operating segment performance because it excludes the impact of Corporate-driven decisions related to interest expense and income taxes. The accounting policies of the operating segments are generally the same as those described in Note 2, Summary of Significant Accounting Policies to the Company’s Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016. Intercompany sales have been eliminated. Corporate operations include costs related to stock options and restricted stock units, research and development costs, Corporate overhead costs, restructuring and related implementation charges and gains and losses on sales of non-core product lines and assets. The Company reports these items within Corporate operations as they relate to Corporate-based responsibilities and decisions and are not included in the internal measures of segment operating performance used by the Company to measure the underlying performance of the operating segments. Net sales and Operating profit by segment were as follows: Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Net sales Oral, Personal and Home Care North America $ 795 $ 800 $ 2,319 $ 2,393 Latin America 985 924 2,911 2,710 Europe 642 609 1,784 1,803 Asia Pacific 728 723 2,111 2,163 Africa/Eurasia 251 250 738 720 Total Oral, Personal and Home Care 3,401 3,306 9,863 9,789 Pet Nutrition 573 561 1,699 1,685 Total Net sales $ 3,974 $ 3,867 $ 11,562 $ 11,474 Operating profit Oral, Personal and Home Care North America $ 249 $ 273 $ 723 $ 762 Latin America 301 298 878 829 Europe 162 158 447 437 Asia Pacific 220 230 644 668 Africa/Eurasia 44 50 134 138 Total Oral, Personal and Home Care 976 1,009 2,826 2,834 Pet Nutrition 161 162 481 479 Corporate (210 ) (100 ) (642 ) (431 ) Total Operating profit $ 927 $ 1,071 $ 2,665 $ 2,882 Approximately 75% of the Company’s Net sales are generated from markets outside the U.S., with approximately 50% of the Company’s Net sales coming from emerging markets (which consist of Latin America, Asia (excluding Japan), Africa/Eurasia and Central Europe). For the three months ended September 30, 2017 , Corporate Operating profit (loss) included charges of $58 resulting from the Global Growth and Efficiency Program. For the nine months ended September 30, 2017 , Corporate Operating profit (loss) included charges of $246 resulting from the Global Growth and Efficiency Program. For the three months ended September 30, 2016 , Corporate Operating profit (loss) included charges of $42 resulting from the Global Growth and Efficiency Program, a charge of $ 6 for a previously disclosed litigation matter and a gain of $ 97 on the sale of land in Mexico. For the nine months ended September 30, 2016 , Corporate Operating profit (loss) included charges of $156 resulting from the Global Growth and Efficiency Program, a charge of $ 6 for a previously disclosed litigation matter and a gain of $ 97 on the sale of land in Mexico. For further information regarding the Global Growth and Efficiency Program, refer to Note 4 , Restructuring and Related Implementation Charges.

Fair Value Measurements and Fin

Fair Value Measurements and Financial Instruments	9 Months Ended
	Sep. 30, 2017
Financial Instruments and Fair Value Measurements [Abstract]
Fair Value Measurements and Financial Instruments	Fair Value Measurements and Financial Instruments The Company uses available market information and other valuation methodologies in assessing the fair value of financial instruments. Judgment is required in interpreting market data to develop the estimates of fair value and, accordingly, changes in assumptions or the estimation methodologies may affect the fair value estimates. The Company is exposed to the risk of credit loss in the event of nonperformance by counterparties to financial instrument contracts; however, nonperformance is considered unlikely and any nonperformance is unlikely to be material, as it is the Company’s policy to contract only with diverse, credit-worthy counterparties based upon both strong credit ratings and other credit considerations. The Company is exposed to market risk from foreign currency exchange rates, interest rates and commodity price fluctuations. Volatility relating to these exposures is managed on a global basis by utilizing a number of techniques, including working capital management, sourcing strategies, selling price increases, selective borrowings in local currencies and entering into selective derivative instrument transactions, issued with standard features, in accordance with the Company’s treasury and risk management policies, which prohibit the use of derivatives for speculative purposes and leveraged derivatives for any purpose. It is the Company’s policy to enter into derivative instrument contracts with terms that match the underlying exposure being hedged. Hedge ineffectiveness, if any, is not material for any period presented. The Company’s derivative instruments include interest rate swap contracts, foreign currency contracts and commodity contracts. The Company utilizes interest rate swap contracts to manage its targeted mix of fixed and floating rate debt, and these swaps are valued using observable benchmark rates (Level 2 valuation). The Company utilizes foreign currency contracts, including forward and swap contracts, option contracts, local currency deposits and local currency borrowings to hedge portions of its foreign currency purchases, assets and liabilities arising in the normal course of business and the net investment in certain foreign subsidiaries. These contracts are valued using observable market rates (Level 2 valuation). Commodity futures contracts are utilized to hedge the purchases of raw materials used in production. These contracts are measured using quoted commodity exchange prices (Level 1 valuation). The duration of foreign currency and commodity contracts generally does not exceed 12 months. The following table summarizes the fair value of the Company’s derivative instruments and other financial instruments which are carried at fair value in the Company’s Consolidated Balance Sheets at September 30, 2017 and December 31, 2016 : Assets Liabilities Account Fair Value Account Fair Value Designated derivative instruments 9/30/17 12/31/16 9/30/17 12/31/16 Interest rate swap contracts Other current assets $ — $ 1 Other accruals $ — $ — Interest rate swap contracts Other assets — 1 Other liabilities 2 — Foreign currency contracts Other current assets 9 29 Other accruals 36 4 Foreign currency contracts Other assets — 5 Other liabilities 40 — Commodity contracts Other current assets — — Other accruals — — Total designated $ 9 $ 36 $ 78 $ 4 Derivatives not designated Foreign currency contracts Other current assets $ 1 $ — Other accruals $ 1 $ — Total not designated $ 1 $ — $ 1 $ — Total derivative instruments $ 10 $ 36 $ 79 $ 4 Other financial instruments Marketable securities Other current assets $ 186 $ 23 Total other financial instruments $ 186 $ 23 The carrying amount of cash, cash equivalents, accounts receivable and short-term debt approximated fair value as of September 30, 2017 and December 31, 2016 . The estimated fair value of the Company’s long-term debt, including the current portion, as of September 30, 2017 and December 31, 2016 , was $6,740 and $6,717 , respectively, and the related carrying value was $6,520 as of each balance sheet date. The estimated fair value of long-term debt was derived principally from quoted prices on the Company’s outstanding fixed-term notes (Level 2 valuation). Fair Value Hedges The Company has designated all interest rate swap contracts and certain foreign currency forward and option contracts as fair value hedges, for which the gain or loss on the derivative and the offsetting gain or loss on the hedged item are recognized in current earnings. The impact of foreign currency contracts is primarily recognized in Selling, general and administrative expenses and the impact of interest rate swap contracts is recognized in Interest (income) expense, net. Activity related to fair value hedges recorded during the three and nine months ended September 30, 2017 and 2016 was as follows: 2017 2016 Foreign Currency Contracts Interest Rate Swaps Total Foreign Currency Contracts Interest Rate Swaps Total Notional Value at September 30, $ 1,095 $ 600 $ 1,695 $ 239 $ 1,250 $ 1,489 Three months ended September 30, Gain (loss) on derivatives (14 ) (1 ) (15 ) 1 (6 ) (5 ) Gain (loss) on hedged items 14 1 15 (1 ) 6 5 Nine months ended September 30, Gain (loss) on derivatives (15 ) (3 ) (18 ) (4 ) 3 (1 ) Gain (loss) on hedged items 15 3 18 4 (3 ) 1 Cash Flow Hedges All of the Company’s commodity contracts and certain foreign currency forward contracts have been designated as cash flow hedges, for which the effective portion of the gain or loss is reported as a component of Other comprehensive income ( “ OCI ” ) and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. Activity related to cash flow hedges recorded during the three and nine months ended September 30, 2017 and 2016 was as follows: 2017 2016 Foreign Currency Contracts Commodity Contracts Total Foreign Currency Contracts Commodity Contracts Total Notional Value at September 30, $ 724 $ 1 $ 725 $ 690 $ 8 $ 698 Three months ended September 30, Gain (loss) recognized in OCI (8 ) — (8 ) 3 (2 ) 1 Gain (loss) reclassified into Cost of sales (4 ) — (4 ) (1 ) — (1 ) Nine months ended September 30, Gain (loss) recognized in OCI (28 ) — (28 ) (6 ) — (6 ) Gain (loss) reclassified into Cost of sales (2 ) — (2 ) (1 ) — (1 ) The net gain (loss) recognized in OCI for both foreign currency contracts and commodity contracts is generally expected to be recognized in Cost of sales within the next twelve months. Net Investment Hedges The Company has designated certain foreign currency forward and option contracts and certain foreign currency-denominated debt as net investment hedges, for which the gain or loss on the instrument is reported as a component of Cumulative translation adjustments within OCI, along with the offsetting gain or loss on the hedged items. Activity related to net investment hedges recorded during the three and nine months ended September 30, 2017 and 2016 was as follows: 2017 2016 Foreign Currency Contracts Foreign Currency Debt Total Foreign Currency Contracts Foreign Currency Debt Total Notional Value at September 30, $ 749 $ 590 $ 1,339 $ 917 $ 1,190 $ 2,107 Three months ended September 30, Gain (loss) on instruments (23 ) (22 ) (45 ) (4 ) (13 ) (17 ) Gain (loss) on hedged items 22 22 44 4 13 17 Nine months ended September 30, Gain (loss) on instruments (69 ) (115 ) (184 ) (20 ) (36 ) (56 ) Gain (loss) on hedged items 69 115 184 20 36 56 Derivatives not Designated as Hedging Instruments Derivatives not designated as hedging instruments for the third quarter of 2017 include foreign currency contracts for which the gain or loss on the instrument is recognized in Other (income) expense, net for the three and nine months ended September 30, 2017 . During the second quarter of 2017, the Company de-designated foreign currency forward contracts previously designated as net investment hedges and entered into new derivative instruments with offsetting terms. Gains or losses on these de-designated derivatives were substantially offset by gains and losses on the new derivative instruments. Derivatives not designated as hedging instruments for the third quarter of 2016 consist of a cross-currency swap that serves as an economic hedge of a foreign currency deposit, for which the gain or loss on the instrument and the offsetting gain or loss on the hedged item are recognized in Other (income) expense, net for each period. Activity related to these contracts during the three and nine months ended September 30, 2017 and 2016 was as follows: 2017 2016 Foreign Currency Contracts Foreign Currency Contracts Notional Value at September 30, $ 42 $ 6 Three months ended September 30, Gain (loss) on instruments — — Gain (loss) on hedged items — — Nine months ended September 30, Gain (loss) on instruments — 5 Gain (loss) on hedged items — (5 ) Other Financial Instruments Other financial instruments are classified as Other current assets or Other assets. Other financial instruments classified as Other current assets include marketable securities consisting of bank deposits of $186 with original maturities greater than 90 days carried at fair value (Level 1 valuation) and the current portion of bonds issued by the Argentinian government in the amount of $36 classified as held-to-maturity and carried at amortized cost. Through its subsidiary in Argentina, the Company has invested in U.S. dollar-linked, devaluation-protected bonds and Argentinian peso-denominated bonds issued by the Argentinian government. As of September 30, 2017 , the amortized cost was $36 and their approximate fair value was $36 (Level 2 valuation).

Use of Estimates (Policies)

Use of Estimates (Policies)	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates Provisions for certain expenses, including income taxes, media advertising and consumer promotion, are based on full year assumptions and are included in the accompanying Condensed Consolidated Financial Statements in proportion with estimated annual tax rates, the passage of time or estimated annual sales.
Recent Accounting Pronouncements	Recent Accounting Pronouncements On August 28, 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2017-12, “Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities,” amending the eligibility criteria for hedged items and transactions to expand an entity’s ability to hedge nonfinancial and financial risk components. The new guidance eliminates the requirement to separately measure and present hedge ineffectiveness and aligns the presentation of hedge gains and losses with the underlying hedge item. The new guidance also simplifies the hedge documentation and hedge effectiveness assessment requirements. The new guidance is effective for the Company beginning on January 1, 2019, with early adoption permitted. The amended presentation and disclosure requirements must be adopted on a prospective basis, while any amendments to cash flow and net investment hedge relationships that exist on the date of adoption must be applied on a “modified retrospective” basis, meaning a cumulative effect adjustment to the opening balance of retained earnings as of the beginning of the year of adoption. While the Company is currently assessing the impact of the new standard on its Consolidated Financial Statements, this new guidance is not expected to have a material impact on the Company’s Consolidated Financial Statements. On May 10, 2017, the FASB issued ASU No. 2017-09, “Compensation–Stock Compensation (Topic 718): Scope of Modification Accounting,” clarifying when a change to the terms or conditions of a share-based payment award must be accounted for as a modification. The new guidance requires modification accounting if the fair value, vesting condition or the classification of the award is not the same immediately before and after a change to the terms and conditions of the award. The new guidance is effective for the Company on a prospective basis beginning on January 1, 2018, with early adoption permitted. This new guidance is not expected to have an impact on the Company’s Consolidated Financial Statements as it is not the Company’s practice to change either the terms or conditions of share-based payment awards once they are granted. On March 10, 2017, the FASB issued ASU No. 2017-07, “Compensation–Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost,” changing the presentation of the net periodic benefit cost on the Statement of Income and limiting the amount of net periodic benefit cost eligible for capitalization to assets. The new guidance permits only the service cost component of net periodic benefit cost to be eligible for capitalization. The new guidance also requires entities to present the service cost component of net periodic benefit cost together with compensation costs arising from services rendered by employees during the period. Other components of net periodic benefit cost, which include interest, expected return on assets, amortization of prior service costs and actuarial gains and losses, are required to be presented outside of Operating profit. The line item or items used to present the other components of net periodic benefit cost must be disclosed in the Notes to the Consolidated Financial Statements, if not separately described on the Statement of Income. The new presentation requirement is required to be adopted on a “full retrospective” basis, meaning the standard is applied to all of the periods presented in the financial statements, while the limitation on capitalization can only be adopted on a prospective basis. The new guidance is effective for the Company beginning on January 1, 2018, with early adoption permitted. While the Company is currently assessing the impact of the new standard on its Consolidated Financial Statements, based on its historical results, it anticipates that, as a result of the reclassification, full year Operating profit will increase by approximately $100 annually with no impact on Net income attributable to Colgate-Palmolive Company. On January 26, 2017, the FASB issued ASU No. 2017-04, “Intangibles–Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment,” eliminating the requirement to calculate the implied fair value, essentially eliminating step two from the goodwill impairment test. The new standard requires goodwill impairment to be based upon the results of step one of the impairment test, which is defined as the excess of the carrying value of a reporting unit over its fair value. The impairment charge will be limited to the amount of goodwill allocated to that reporting unit. The standard is effective for the Company on a prospective basis beginning on January 1, 2020, with early adoption permitted. This new guidance is not expected to have a material impact on the Company’s Consolidated Financial Statements. On January 5, 2017, the FASB issued ASU No. 2017-01, “Business Combinations (Topic 805): Clarifying the Definition of a Business,” which provides additional guidance on evaluating whether transactions should be accounted for as acquisitions of assets or businesses. The guidance requires an entity to evaluate if substantially all of the fair value of the assets acquired is concentrated in a single identifiable asset or a group of similar identifiable assets. If this threshold is met, the new guidance would define this as an asset acquisition; otherwise, the entity then evaluates whether the asset meets the requirement that a business include, at a minimum, an input and substantive process that together significantly contribute to the ability to create outputs. The guidance is effective for the Company on a prospective basis beginning on January 1, 2018, with early adoption permitted. This new guidance is not expected to have a material impact on the Company’s Consolidated Financial Statements. On October 24, 2016, the FASB issued ASU No. 2016-16, “Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other than Inventory,” which eliminates the requirement to defer recognition of income taxes on intra-entity asset transfers until the asset is sold to an outside party. The new guidance requires the recognition of current and deferred income taxes on intra-entity transfers of assets other than inventory, such as intellectual property and property, plant and equipment, when the transfer occurs. As permitted, the Company early-adopted the new standard on a “modified retrospective” basis, meaning the standard is applied only to the most recent period presented in the financial statements, as of January 1, 2017. This new guidance did not have a material impact on the Company’s Consolidated Financial Statements. On August 26, 2016, the FASB issued ASU No. 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments,” which clarifies how certain cash receipts and payments are to be presented in the statement of cash flows. The guidance is effective for the Company beginning on January 1, 2018, with early adoption permitted. This new guidance is not expected to have a material impact on the Company’s Consolidated Financial Statements. On March 30, 2016, the FASB issued ASU No. 2016-09, “Compensation–Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting,” which amended accounting for income taxes related to share-based compensation, the related classification in the statement of cash flows and share award forfeiture accounting. The new guidance was effective for the Company beginning on January 1, 2017. As required subsequent to the adoption of this new guidance, the Company recognized excess tax benefits of $17 and $43 (resulting from an increase in the fair value of an award from grant date to the vesting or exercise date, as applicable) in the Provision for income taxes as a discrete item during the three and nine months ended September 30, 2017 , respectively. These amounts may not necessarily be indicative of future amounts that may be recognized as any excess tax benefits recognized would be dependent on future stock price, employee exercise behavior and applicable tax rates. Prior to January 1, 2017, excess tax benefits were recognized in equity. As permitted, the Company elected to classify excess tax benefits as an operating activity in the Statement of Cash Flows instead of as a financing activity on a prospective basis and did not retrospectively adjust prior periods. Also, as permitted by the new standard, the Company elected to account for forfeitures as they occur. On March 15, 2016, the FASB issued ASU No. 2016-07, “Investments–Equity Method and Joint Ventures (Topic 323): Simplifying the Transition to the Equity Method of Accounting,” which eliminated the requirement to retroactively adjust an investment that subsequently qualifies for equity method accounting (as a result of an increase in level of ownership interest or degree of influence) as if the equity method of accounting had been applied during all prior periods that the investment was held. The new standard requires that the investor add the cost of acquiring additional ownership interest in the investee to its current basis and prospectively apply the equity method of accounting. For an available-for-sale investment, any unrealized gains or losses should be recognized in earnings at the date the investment qualifies as an equity method investment. The new guidance was effective for the Company beginning on January 1, 2017, and did not have a material impact on the Company’s Consolidated Financial Statements. On February 25, 2016, the FASB issued its final standard on lease accounting, ASU No. 2016-02, “Leases (Topic 842),” which supersedes Topic 840, “Leases.” The new accounting standard requires the recognition of right-of-use assets and lease liabilities for all long-term leases, including operating leases, on the balance sheet. The new standard also provides additional guidance on the measurement of the right-of-use assets and lease liabilities and will require enhanced disclosures about the Company’s leasing arrangements. Under current accounting standards, substantially all of the Company’s leases are considered operating leases and, as such, are not recognized on the Consolidated Balance Sheet. This new standard is effective for the Company beginning on January 1, 2019, with early adoption permitted. The standard requires a “modified retrospective” adoption, meaning the standard is applied to leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The Company is currently assessing the impact of the new standard on its Consolidated Financial Statements. On January 5, 2016, the FASB issued ASU No. 2016-01, “Financial Instruments–Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities.” The updated guidance enhances the reporting model for financial instruments which includes amendments to address aspects of recognition, measurement, presentation and disclosure. The amendment to the standard is effective for the Company beginning on January 1, 2018. While the Company is currently assessing the impact of the new standard, it does not expect this new guidance to have a material impact on its Consolidated Financial Statements. On July 22, 2015, the FASB issued ASU No. 2015-11, “Inventory (Topic 330): Simplifying the Measurement of Inventory,” which simplifies the subsequent measurement of inventories by replacing the lower of cost or market test with a lower of cost and net realizable value test. The guidance applies only to inventories for which cost is determined by methods other than last-in first-out (“LIFO”) and the retail inventory method. The new guidance was effective for the Company beginning on January 1, 2017. This new guidance did not have a material impact on the Company’s Consolidated Financial Statements. On May 28, 2014, the FASB and the International Accounting Standards Board issued their final converged standard on revenue recognition. The standard, issued as ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606)” by the FASB, provides a comprehensive revenue recognition model for all contracts with customers and supersedes current revenue recognition guidance. The revenue standard contains principles that an entity will apply to determine the measurement of revenue and timing of when it is recognized. The underlying principle is that an entity will recognize revenue to depict the transfer of goods or services to its customers at an amount that the entity expects to be entitled to in exchange for those goods or services. The new standard also includes enhanced disclosures. During 2016, the FASB issued several accounting updates (ASU No. 2016-08, 2016-10 and 2016-12) to clarify implementation guidance and correct unintended application of the guidance. The standard allows for either full retrospective adoption or modified retrospective adoption. The Company plans to adopt the new standard on January 1, 2018, on a “modified retrospective” basis. The Company has substantially completed its assessment of the new standard and continues to make progress on its implementation. Based on the progress to date, the Company does not expect the new standard will have a material impact on its revenue recognition accounting policy or its Consolidated Financial Statements.

Restructuring and Related Imp21

Restructuring and Related Implementation Charges (Tables)	9 Months Ended
	Sep. 30, 2017
Restructuring and Related Activities [Abstract]
Schedule of Restructuring and Related Costs	For the three and nine months ended September 30, 2017 and 2016 , restructuring and related implementation charges are reflected in the Condensed Consolidated Statements of Income as follows: Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Cost of sales $ 16 $ 11 $ 51 $ 31 Selling, general and administrative expenses 22 9 60 49 Other (income) expense, net 20 22 135 76 Total Global Growth and Efficiency Program charges, pretax $ 58 $ 42 $ 246 $ 156 Total Global Growth and Efficiency Program charges, aftertax $ 39 $ 32 $ 185 $ 114
Schedule of Percent of Total Restructuring Charges Related To Segment for the period	Total charges incurred for the Global Growth and Efficiency Program relate to initiatives undertaken by the following reportable operating segments: Three Months Ended Nine Months Ended Program-to-date September 30, September 30, Accumulated Charges 2017 2016 2017 2016 North America 27 % 30 % 23 % 32 % 18 % Latin America 2 % 3 % 3 % 5 % 3 % Europe (11 )% 19 % 29 % 10 % 23 % Asia Pacific 7 % 4 % 4 % 6 % 3 % Africa/Eurasia 2 % 12 % 2 % 14 % 6 % Hill ’ s Pet Nutrition 9 % 5 % 5 % 8 % 7 % Corporate 64 % 27 % 34 % 25 % 40 %
Schedule of Restructuring and Related Costs Incurred to Date	Since the inception of the Global Growth and Efficiency Program in the fourth quarter of 2012, the Company has incurred cumulative pretax charges of $1,474 ( $1,092 aftertax) in connection with the implementation of various projects as follows: Cumulative Charges as of September 30, 2017 Employee-Related Costs $ 594 Incremental Depreciation 88 Asset Impairments 29 Other 763 Total $ 1,474
Schedule of Restructuring Reserve by Type of Cost	The following tables summarize the activity for the restructuring and related implementation charges discussed above and the related accruals: Three Months Ended September 30, 2017 Employee-Related Costs Incremental Depreciation Asset Impairments Other Total Balance at June 30, 2017 $ 138 $ — $ — $ 116 $ 254 Charges 21 2 — 35 58 Cash payments (16 ) — — (42 ) (58 ) Charges against assets (15 ) (2 ) — — (17 ) Foreign exchange — — — — — Balance at September 30, 2017 $ 128 $ — $ — $ 109 $ 237 Nine Months Ended September 30, 2017 Employee-Related Incremental Asset Other Total Balance at December 31, 2016 $ 56 $ — $ — $ 125 $ 181 Charges 129 8 2 107 246 Cash payments (43 ) — — (124 ) (167 ) Charges against assets (17 ) (8 ) (2 ) — (27 ) Foreign exchange 3 — — 1 4 Balance at September 30, 2017 $ 128 $ — $ — $ 109 $ 237

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2017
Inventory, Net, Items Net of Reserve Alternative [Abstract]
Inventories By Major Class	Inventories by major class are as follows: September 30, December 31, Raw materials and supplies $ 249 $ 266 Work-in-process 47 42 Finished goods 909 863 Total Inventories $ 1,205 $ 1,171

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2017
Stockholders' Equity Note [Abstract]
Shareholders' Equity	Changes in the components of Shareholders’ Equity for the nine months ended September 30, 2017 are as follows: Colgate-Palmolive Company Shareholders’ Equity Noncontrolling Interests Common Stock Additional Paid-in Capital Unearned Compensation Treasury Stock Retained Earnings Accumulated Other Comprehensive Income (Loss) Balance, December 31, 2016 $ 1,466 $ 1,691 $ (7 ) $ (19,135 ) $ 19,922 $ (4,180 ) $ 260 Net income 1,701 120 Other comprehensive income (loss), net of tax 346 11 Dividends (1,406 ) (16 ) Stock-based compensation expense 106 Shares issued for stock options 166 274 Shares issued for restricted stock units (33 ) 33 Treasury stock acquired (1,055 ) Other 2 6 5 (10 ) Balance, September 30, 2017 $ 1,466 $ 1,932 $ (1 ) $ (19,878 ) $ 20,207 $ (3,834 ) $ 375

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2017
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	Three Months Ended September 30, 2017 September 30, 2016 Net income attributable to Colgate-Palmolive Company Shares (millions) Per Share Net income attributable to Colgate-Palmolive Company Shares (millions) Per Share Basic EPS $ 607 880.7 $ 0.69 $ 702 891.9 $ 0.79 Stock options and restricted stock units 5.6 7.3 Diluted EPS $ 607 886.3 $ 0.68 $ 702 899.2 $ 0.78 For the three months ended September 30, 2017 and 2016 , the average number of stock options and restricted stock units that were anti-dilutive and not included in diluted earnings per share calculations were 9,502,329 and 1,980,457 , respectively. Nine Months Ended September 30, 2017 September 30, 2016 Net income attributable to Colgate-Palmolive Company Shares (millions) Per Share Net income attributable to Colgate-Palmolive Company Shares (millions) Per Share Basic EPS $ 1,701 883.0 $ 1.93 $ 1,835 893.2 $ 2.05 Stock options and restricted stock units 6.3 7.0 Diluted EPS $ 1,701 889.3 $ 1.91 $ 1,835 900.2 $ 2.04

Other Comprehensive Income (L25

Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Sep. 30, 2017
Equity [Abstract]
Schedule of Comprehensive Income (Loss)	Additions to and reclassifications out of Accumulated other comprehensive income (loss) attributable to the Company for the three months ended September 30, 2017 and 2016 were as follows: 2017 2016 Pretax Net of Tax Pretax Net of Tax Cumulative translation adjustments $ 48 $ 62 $ (10 ) $ (2 ) Retirement plans and other retiree benefits: Net actuarial gain (loss) and prior service costs arising during the period 72 45 9 7 Amortization of net actuarial loss, transition and prior service costs (1) 15 9 15 9 Retirement plans and other retiree benefits adjustments 87 54 24 16 Available-for-sale securities: Unrealized gains (losses) on available-for-sale securities — — — — Reclassification of (gains) losses into net earnings on available-for-sale securities — — (1 ) (1 ) Gains (losses) on available-for-sale securities — — (1 ) (1 ) Cash flow hedges: Unrealized gains (losses) on cash flow hedges (8 ) (5 ) 1 — Reclassification of (gains) losses into net earnings on cash flow hedges (2) 4 2 1 1 Gains (losses) on cash flow hedges (4 ) (3 ) 2 1 Total Other comprehensive income (loss) $ 131 $ 113 $ 15 $ 14 (1) These components of Other comprehensive income (loss) are included in the computation of total pension cost. See Note 9 , Retirement Plans and Other Retiree Benefits for additional details. (2) These (gains) losses are reclassified into Cost of sales. See Note 13 , Fair Value Measurements and Financial Instruments for additional details. Additions to and reclassifications out of Accumulated other comprehensive income (loss) attributable to the Company for the nine months ended September 30, 2017 and 2016 were as follows: 2017 2016 Pretax Net of Tax Pretax Net of Tax Cumulative translation adjustments $ 208 $ 283 $ 76 $ 86 Retirement plans and other retiree benefits: Net actuarial gain (loss) and prior service costs arising during the period 72 45 9 7 Amortization of net actuarial loss, transition and prior service costs (1) 52 34 47 32 Retirement plans and other retiree benefits adjustments 124 79 56 39 Available-for-sale securities: Unrealized gains (losses) on available-for-sale securities — — — — Reclassification of (gains) losses into net earnings on available-for-sale securities — — (1 ) (1 ) Gains (losses) on available-for-sale securities — — (1 ) (1 ) Cash flow hedges: Unrealized gains (losses) on cash flow hedges (28 ) (17 ) (6 ) (4 ) Reclassification of (gains) losses into net earnings on cash flow hedges (2) 2 1 1 1 Gains (losses) on cash flow hedges (26 ) (16 ) (5 ) (3 ) Total Other comprehensive income (loss) $ 306 $ 346 $ 126 $ 121 (1) These components of Other comprehensive income (loss) are included in the computation of total pension cost. See Note 9 , Retirement Plans and Other Retiree Benefits for additional details. (2) These (gains) losses are reclassified into Cost of sales. See Note 13 , Fair Value Measurements and Financial Instruments for additional details.

Retirement Plans and Other Re26

Retirement Plans and Other Retiree Benefits (Tables)	9 Months Ended
	Sep. 30, 2017
Retirement Benefits [Abstract]
Components Of Net Periodic Benefit Cost	Components of Net periodic benefit cost for the three and nine months ended September 30, 2017 and 2016 were as follows: Pension Benefits Other Retiree Benefits United States International Three Months Ended September 30, 2017 2016 2017 2016 2017 2016 Service cost $ — $ — $ 4 $ 4 $ 3 $ 4 Interest cost 23 27 6 7 9 10 ESOP offset — — — — (1 ) — Expected return on plan assets (28 ) (27 ) (5 ) (6 ) — — Amortization of transition and prior service costs (credits) — — — — — — Amortization of actuarial loss (gain) 12 10 2 2 1 3 Net periodic benefit cost $ 7 $ 10 $ 7 $ 7 $ 12 $ 17 Pension Benefits Other Retiree Benefits United States International Nine Months Ended September 30, 2017 2016 2017 2016 2017 2016 Service cost $ 1 $ 1 $ 11 $ 12 $ 11 $ 10 Interest cost 70 80 16 19 30 32 ESOP offset — — — — (1 ) (1 ) Expected return on plan assets (83 ) (82 ) (15 ) (17 ) — — Amortization of transition and prior service costs (credits) — — — — — — Amortization of actuarial loss (gain) 36 30 7 6 9 11 Net periodic benefit cost $ 24 $ 29 $ 19 $ 20 $ 49 $ 52

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2017
Segment Reporting [Abstract]
Net Sales and Operating Profit by Segment	Net sales and Operating profit by segment were as follows: Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Net sales Oral, Personal and Home Care North America $ 795 $ 800 $ 2,319 $ 2,393 Latin America 985 924 2,911 2,710 Europe 642 609 1,784 1,803 Asia Pacific 728 723 2,111 2,163 Africa/Eurasia 251 250 738 720 Total Oral, Personal and Home Care 3,401 3,306 9,863 9,789 Pet Nutrition 573 561 1,699 1,685 Total Net sales $ 3,974 $ 3,867 $ 11,562 $ 11,474 Operating profit Oral, Personal and Home Care North America $ 249 $ 273 $ 723 $ 762 Latin America 301 298 878 829 Europe 162 158 447 437 Asia Pacific 220 230 644 668 Africa/Eurasia 44 50 134 138 Total Oral, Personal and Home Care 976 1,009 2,826 2,834 Pet Nutrition 161 162 481 479 Corporate (210 ) (100 ) (642 ) (431 ) Total Operating profit $ 927 $ 1,071 $ 2,665 $ 2,882

Fair Value Measurements and F28

Fair Value Measurements and Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2017
Financial Instruments and Fair Value Measurements [Abstract]
Schedule of derivative instruments	The following table summarizes the fair value of the Company’s derivative instruments and other financial instruments which are carried at fair value in the Company’s Consolidated Balance Sheets at September 30, 2017 and December 31, 2016 : Assets Liabilities Account Fair Value Account Fair Value Designated derivative instruments 9/30/17 12/31/16 9/30/17 12/31/16 Interest rate swap contracts Other current assets $ — $ 1 Other accruals $ — $ — Interest rate swap contracts Other assets — 1 Other liabilities 2 — Foreign currency contracts Other current assets 9 29 Other accruals 36 4 Foreign currency contracts Other assets — 5 Other liabilities 40 — Commodity contracts Other current assets — — Other accruals — — Total designated $ 9 $ 36 $ 78 $ 4 Derivatives not designated Foreign currency contracts Other current assets $ 1 $ — Other accruals $ 1 $ — Total not designated $ 1 $ — $ 1 $ — Total derivative instruments $ 10 $ 36 $ 79 $ 4 Other financial instruments Marketable securities Other current assets $ 186 $ 23 Total other financial instruments $ 186 $ 23
Activity related to fair value hedges	Activity related to fair value hedges recorded during the three and nine months ended September 30, 2017 and 2016 was as follows: 2017 2016 Foreign Currency Contracts Interest Rate Swaps Total Foreign Currency Contracts Interest Rate Swaps Total Notional Value at September 30, $ 1,095 $ 600 $ 1,695 $ 239 $ 1,250 $ 1,489 Three months ended September 30, Gain (loss) on derivatives (14 ) (1 ) (15 ) 1 (6 ) (5 ) Gain (loss) on hedged items 14 1 15 (1 ) 6 5 Nine months ended September 30, Gain (loss) on derivatives (15 ) (3 ) (18 ) (4 ) 3 (1 ) Gain (loss) on hedged items 15 3 18 4 (3 ) 1
Activity related to cash flow hedges	Activity related to cash flow hedges recorded during the three and nine months ended September 30, 2017 and 2016 was as follows: 2017 2016 Foreign Currency Contracts Commodity Contracts Total Foreign Currency Contracts Commodity Contracts Total Notional Value at September 30, $ 724 $ 1 $ 725 $ 690 $ 8 $ 698 Three months ended September 30, Gain (loss) recognized in OCI (8 ) — (8 ) 3 (2 ) 1 Gain (loss) reclassified into Cost of sales (4 ) — (4 ) (1 ) — (1 ) Nine months ended September 30, Gain (loss) recognized in OCI (28 ) — (28 ) (6 ) — (6 ) Gain (loss) reclassified into Cost of sales (2 ) — (2 ) (1 ) — (1 )
Activity related to net investment hedges	Activity related to net investment hedges recorded during the three and nine months ended September 30, 2017 and 2016 was as follows: 2017 2016 Foreign Currency Contracts Foreign Currency Debt Total Foreign Currency Contracts Foreign Currency Debt Total Notional Value at September 30, $ 749 $ 590 $ 1,339 $ 917 $ 1,190 $ 2,107 Three months ended September 30, Gain (loss) on instruments (23 ) (22 ) (45 ) (4 ) (13 ) (17 ) Gain (loss) on hedged items 22 22 44 4 13 17 Nine months ended September 30, Gain (loss) on instruments (69 ) (115 ) (184 ) (20 ) (36 ) (56 ) Gain (loss) on hedged items 69 115 184 20 36 56
Activity related to derivatives not designated as hedging instruments	Activity related to these contracts during the three and nine months ended September 30, 2017 and 2016 was as follows: 2017 2016 Foreign Currency Contracts Foreign Currency Contracts Notional Value at September 30, $ 42 $ 6 Three months ended September 30, Gain (loss) on instruments — — Gain (loss) on hedged items — — Nine months ended September 30, Gain (loss) on instruments — 5 Gain (loss) on hedged items — (5 )

Recent Accounting Pronounceme29

Recent Accounting Pronouncements (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating profit	$ 927	$ 1,071	$ 2,665	$ 2,882
Net income attributable to Colgate-Palmolive Company	607	$ 702	1,701	$ 1,835
Excess tax benefits recognized	$ 17		$ 43
Scenario, Forecast | Accounting Standards Update 2017-07
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating profit					$ 100
Net income attributable to Colgate-Palmolive Company					$ 0

Restructuring and Related Imp30

Restructuring and Related Implementation Charges (Details) - Global Growth and Efficiency Program $ in Millions	Oct. 29, 2015	Sep. 30, 2017USD ($)position	Jun. 30, 2017USD ($)
Restructuring Cost and Reserve [Line Items]
Duration of extension of the restructuring program	1 year
Expected percent of total charges resulting in cash expenditure		80.00%
Hill’s Pet Nutrition
Restructuring Cost and Reserve [Line Items]
Expected percent of total restructuring charges related to segment for the duration of the program		10.00%
Corporate
Restructuring Cost and Reserve [Line Items]
Expected percent of total restructuring charges related to segment for the duration of the program		40.00%
North America
Restructuring Cost and Reserve [Line Items]
Expected percent of total restructuring charges related to segment for the duration of the program		15.00%
Europe
Restructuring Cost and Reserve [Line Items]
Expected percent of total restructuring charges related to segment for the duration of the program		20.00%
Latin America
Restructuring Cost and Reserve [Line Items]
Expected percent of total restructuring charges related to segment for the duration of the program		5.00%
Asia Pacific
Restructuring Cost and Reserve [Line Items]
Expected percent of total restructuring charges related to segment for the duration of the program		5.00%
Africa/Eurasia
Restructuring Cost and Reserve [Line Items]
Expected percent of total restructuring charges related to segment for the duration of the program		5.00%
Employee-Related Costs
Restructuring Cost and Reserve [Line Items]
Estimated percent of total cumulative pretax charges of implementing restructuring program by category		50.00%
Incremental Depreciation And Asset Impairment
Restructuring Cost and Reserve [Line Items]
Estimated percent of total cumulative pretax charges of implementing restructuring program by category		10.00%
Charges Resulting Directly From Exit Activities
Restructuring Cost and Reserve [Line Items]
Estimated percent of total cumulative pretax charges of implementing restructuring program by category		20.00%
Implementation Of New Strategies
Restructuring Cost and Reserve [Line Items]
Estimated percent of total cumulative pretax charges of implementing restructuring program by category		20.00%
Minimum | Expected Completion Date 2017
Restructuring Cost and Reserve [Line Items]
Restructuring program expected cost before tax			$ 1,500
Restructuring program expected cost after tax			1,120
Restructuring program expected cost, current fiscal year, before tax			275
Restructuring program expected cost, current fiscal year, after tax			210
Minimum | Expected Completion Date 2019
Restructuring Cost and Reserve [Line Items]
Restructuring program expected cost before tax		$ 1,730
Restructuring program expected cost after tax		1,280
Restructuring program expected cost, current fiscal year, before tax		340
Restructuring program expected cost, current fiscal year, after tax		$ 250
Restructuring and related cost, expected number of positions eliminated (in positions) | position		3,800
Maximum | Expected Completion Date 2017
Restructuring Cost and Reserve [Line Items]
Restructuring program expected cost before tax			1,585
Restructuring program expected cost after tax			1,170
Restructuring program expected cost, current fiscal year, before tax			360
Restructuring program expected cost, current fiscal year, after tax			$ 260
Maximum | Expected Completion Date 2019
Restructuring Cost and Reserve [Line Items]
Restructuring program expected cost before tax		$ 1,885
Restructuring program expected cost after tax		1,380
Restructuring program expected cost, current fiscal year, before tax		380
Restructuring program expected cost, current fiscal year, after tax		$ 280
Restructuring and related cost, expected number of positions eliminated (in positions) | position		4,400

Restructuring and Related Imp31

Restructuring and Related Implementation Charges (Details 1) - Global Growth and Efficiency Program - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Restructuring Cost and Reserve [Line Items]
Total Global Growth and Efficiency Program charges, pretax	$ 58	$ 42	$ 246	$ 156
Total Global Growth and Efficiency Program charges, aftertax	39	32	185	114
Cost of sales
Restructuring Cost and Reserve [Line Items]
Total Global Growth and Efficiency Program charges, pretax	16	11	51	31
Selling, general and administrative expenses
Restructuring Cost and Reserve [Line Items]
Total Global Growth and Efficiency Program charges, pretax	22	9	60	49
Other (income) expense, net
Restructuring Cost and Reserve [Line Items]
Total Global Growth and Efficiency Program charges, pretax	$ 20	$ 22	$ 135	$ 76

Restructuring and Related Imp32

Restructuring and Related Implementation Charges (Details 2) - Global Growth and Efficiency Program	3 Months Ended		9 Months Ended		60 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017
Hill’s Pet Nutrition
Restructuring Cost and Reserve [Line Items]
Percent of Total Restructuring Charges Related to Segment	9.00%	5.00%	5.00%	8.00%
Percent of Restructuring Charges Related to Segment, Program-to-date Accumulated Charges					7.00%
Corporate
Restructuring Cost and Reserve [Line Items]
Percent of Total Restructuring Charges Related to Segment	64.00%	27.00%	34.00%	25.00%
Percent of Restructuring Charges Related to Segment, Program-to-date Accumulated Charges					40.00%
North America
Restructuring Cost and Reserve [Line Items]
Percent of Total Restructuring Charges Related to Segment	27.00%	30.00%	23.00%	32.00%
Percent of Restructuring Charges Related to Segment, Program-to-date Accumulated Charges					18.00%
Latin America
Restructuring Cost and Reserve [Line Items]
Percent of Total Restructuring Charges Related to Segment	2.00%	3.00%	3.00%	5.00%
Percent of Restructuring Charges Related to Segment, Program-to-date Accumulated Charges					3.00%
Europe
Restructuring Cost and Reserve [Line Items]
Percent of Total Restructuring Charges Related to Segment	(11.00%)	19.00%	29.00%	10.00%
Percent of Restructuring Charges Related to Segment, Program-to-date Accumulated Charges					23.00%
Asia Pacific
Restructuring Cost and Reserve [Line Items]
Percent of Total Restructuring Charges Related to Segment	7.00%	4.00%	4.00%	6.00%
Percent of Restructuring Charges Related to Segment, Program-to-date Accumulated Charges					3.00%
Africa/Eurasia
Restructuring Cost and Reserve [Line Items]
Percent of Total Restructuring Charges Related to Segment	2.00%	12.00%	2.00%	14.00%
Percent of Restructuring Charges Related to Segment, Program-to-date Accumulated Charges					6.00%

Restructuring and Related Imp33

Restructuring and Related Implementation Charges (Details 3) - Global Growth and Efficiency Program $ in Millions	Sep. 30, 2017USD ($)
Restructuring Cost and Reserve [Line Items]
Pretax charges related to the Restructuring Program to date	$ 1,474
Aftertax charges related to the Restructuring Program to date	1,092
Employee-Related Costs
Restructuring Cost and Reserve [Line Items]
Pretax charges related to the Restructuring Program to date	594
Incremental Depreciation
Restructuring Cost and Reserve [Line Items]
Pretax charges related to the Restructuring Program to date	88
Asset Impairments
Restructuring Cost and Reserve [Line Items]
Pretax charges related to the Restructuring Program to date	29
Other
Restructuring Cost and Reserve [Line Items]
Pretax charges related to the Restructuring Program to date	$ 763

Restructuring and Related Imp34

Restructuring and Related Implementation Charges (Details 4) - Global Growth and Efficiency Program - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Restructuring Reserve [Roll Forward]
Beginning Balance	$ 254		$ 181
Charges	58	$ 42	246	$ 156
Cash payments	(58)		(167)
Charges against assets	(17)		(27)
Foreign exchange	0		4
Ending Balance	237		237
Employee-Related Costs
Restructuring Reserve [Roll Forward]
Beginning Balance	138		56
Charges	21		129
Cash payments	(16)		(43)
Charges against assets	(15)		(17)
Foreign exchange	0		3
Ending Balance	128		128
Incremental Depreciation
Restructuring Reserve [Roll Forward]
Beginning Balance	0		0
Charges	2		8
Cash payments	0		0
Charges against assets	(2)		(8)
Foreign exchange	0		0
Ending Balance	0		0
Asset Impairments
Restructuring Reserve [Roll Forward]
Beginning Balance	0		0
Charges	0		2
Cash payments	0		0
Charges against assets	0		(2)
Foreign exchange	0		0
Ending Balance	0		0
Other
Restructuring Reserve [Roll Forward]
Beginning Balance	116		125
Charges	35		107
Cash payments	(42)		(124)
Charges against assets	0		0
Foreign exchange	0		1
Ending Balance	109		109
Third party Incremental Cost
Restructuring Reserve [Roll Forward]
Charges	33		103
Contract Termination
Restructuring Reserve [Roll Forward]
Charges	$ 2		$ 4

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Inventory, Net, Items Net of Reserve Alternative [Abstract]
Raw materials and supplies	$ 249	$ 266
Work-in-process	47	42
Finished goods	909	863
Total Inventories	$ 1,205	$ 1,171

Shareholders' Equity (Details)

Shareholders' Equity (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Changes in Shareholders' Equity [Roll Forward]
Beginning balance			$ 17
Net income	$ 650	$ 746	1,821	$ 1,958
Other comprehensive income (loss), net of tax	115	16	357	118
Ending balance	267		267
Accumulated other comprehensive income (loss), cumulative translation losses	2,929		2,929		$ 3,212
Accumulated other comprehensive income (loss), unrecognized retirement plan and other retiree benefits costs	898		898		$ 977
Common Stock
Changes in Shareholders' Equity [Roll Forward]
Beginning balance			1,466
Ending balance	1,466		1,466
Additional Paid-in Capital
Changes in Shareholders' Equity [Roll Forward]
Beginning balance			1,691
Stock-based compensation expense			106
Shares issued for stock options			166
Shares issued for restricted stock units			(33)
Other			2
Ending balance	1,932		1,932
Unearned Compensation
Changes in Shareholders' Equity [Roll Forward]
Beginning balance			(7)
Other			6
Ending balance	(1)		(1)
Treasury Stock
Changes in Shareholders' Equity [Roll Forward]
Beginning balance			(19,135)
Shares issued for stock options			274
Shares issued for restricted stock units			33
Treasury stock acquired			(1,055)
Other			5
Ending balance	(19,878)		(19,878)
Retained Earnings
Changes in Shareholders' Equity [Roll Forward]
Beginning balance			19,922
Net income			1,701
Dividends			(1,406)
Other			(10)
Ending balance	20,207		20,207
Accumulated Other Comprehensive Income (Loss)
Changes in Shareholders' Equity [Roll Forward]
Beginning balance			(4,180)
Other comprehensive income (loss), net of tax	113	$ 14	346	$ 121
Ending balance	(3,834)		(3,834)
Noncontrolling Interests
Changes in Shareholders' Equity [Roll Forward]
Beginning balance			260
Net income			120
Other comprehensive income (loss), net of tax			11
Dividends			(16)
Ending balance	$ 375		$ 375

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Net income attributable to Colgate-Palmolive Company
Basic EPS	$ 607	$ 702	$ 1,701	$ 1,835
Diluted EPS	$ 607	$ 702	$ 1,701	$ 1,835
Shares
Basic EPS (in shares)	880,700,000	891,900,000	883,000,000	893,200,000
Stock options and restricted stock units (in shares)	5,600,000	7,300,000	6,300,000	7,000,000
Diluted EPS (in shares)	886,300,000	899,200,000	889,300,000	900,200,000
Per Share
Basic EPS (in dollars per share)	$ 0.69	$ 0.79	$ 1.93	$ 2.05
Diluted EPS (in dollars per share)	$ 0.68	$ 0.78	$ 1.91	$ 2.04
Antidilutive securities excluded from computation of earnings per share (in shares)	9,502,329	1,980,457	9,209,060	1,212,685

Other Comprehensive Income (L38

Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total Other comprehensive income (loss), net of tax	$ 115	$ 16	$ 357	$ 118
Cumulative translation adjustments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss), Pretax	48	(10)	208	76
Total Other comprehensive income (loss), net of tax	62	(2)	283	86
Retirement plans and other retiree benefits adjustments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss), before reclassifications, Pretax	72	9	72	9
Reclassification from AOCI, Pretax	15	15	52	47
Other comprehensive income (loss), Pretax	87	24	124	56
Other comprehensive income (loss), before reclassifications, Net of Tax	45	7	45	7
Reclassification from AOCI, Net of Tax	9	9	34	32
Total Other comprehensive income (loss), net of tax	54	16	79	39
Available-for-sale securities:
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss), before reclassifications, Pretax	0	0	0	0
Reclassification from AOCI, Pretax	0	(1)	0	(1)
Other comprehensive income (loss), Pretax	0	(1)	0	(1)
Other comprehensive income (loss), before reclassifications, Net of Tax	0	0	0	0
Reclassification from AOCI, Net of Tax	0	(1)	0	(1)
Total Other comprehensive income (loss), net of tax	0	(1)	0	(1)
Cash flow hedges:
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss), before reclassifications, Pretax	(8)	1	(28)	(6)
Reclassification from AOCI, Pretax	4	1	2	1
Other comprehensive income (loss), Pretax	(4)	2	(26)	(5)
Other comprehensive income (loss), before reclassifications, Net of Tax	(5)	0	(17)	(4)
Reclassification from AOCI, Net of Tax	2	1	1	1
Total Other comprehensive income (loss), net of tax	(3)	1	(16)	(3)
Total Other comprehensive income (loss)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss), Pretax	131	15	306	126
Total Other comprehensive income (loss), net of tax	$ 113	$ 14	$ 346	$ 121

Retirement Plans and Other Re39

Retirement Plans and Other Retiree Benefits (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Other Retiree Benefits
Components of net periodic benefit cost
Service cost	$ 3	$ 4	$ 11	$ 10
Interest cost	9	10	30	32
ESOP offset	(1)	0	(1)	(1)
Expected return on plan assets	0	0	0	0
Amortization of transition and prior service costs (credits)	0	0	0	0
Amortization of actuarial loss (gain)	1	3	9	11
Net periodic benefit cost	12	17	49	52
Pension Benefits, United States | Pension Benefits
Components of net periodic benefit cost
Service cost	0	0	1	1
Interest cost	23	27	70	80
ESOP offset	0	0	0	0
Expected return on plan assets	(28)	(27)	(83)	(82)
Amortization of transition and prior service costs (credits)	0	0	0	0
Amortization of actuarial loss (gain)	12	10	36	30
Net periodic benefit cost	7	10	24	29
Voluntary benefit plan contribution			81	53
Pension Benefits, International | Pension Benefits
Components of net periodic benefit cost
Service cost	4	4	11	12
Interest cost	6	7	16	19
ESOP offset	0	0	0	0
Expected return on plan assets	(5)	(6)	(15)	(17)
Amortization of transition and prior service costs (credits)	0	0	0	0
Amortization of actuarial loss (gain)	2	2	7	6
Net periodic benefit cost	$ 7	$ 7	$ 19	$ 20

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Jun. 30, 2016	Sep. 30, 2017
Income Tax Disclosure [Abstract]
Excess tax benefits recognized	$ 17			$ 43
Tax benefit from foreign Supreme Court decision		$ 17	$ 13
Tax benefit from prior year tax positions currently being challenged	$ 15			$ 15

Contingencies (Details)

Contingencies (Details) $ in Millions	1 Months Ended		3 Months Ended	9 Months Ended
	Sep. 30, 2015appeal	Dec. 31, 2014USD ($)company	Sep. 30, 2017USD ($)case	Sep. 30, 2017USD ($)casecountry_and_territory	Jul. 21, 2017USD ($)	Jun. 30, 2017case	Mar. 31, 2017case	Dec. 31, 2016case
Loss Contingencies [Line Items]
Minimum number of countries and territories serving consumers (more than) (in countries and territories) | country_and_territory				200
Brazilian internal revenue authority, matter 1			$ 171	$ 171
Loss contingency, number of appeals lost (in appeals) | appeal	1
Brazilian internal revenue authority, matter 2			$ 77	$ 77
Number of consumer goods companies | company		13
Fine imposed french competition authority		$ 57
Fine imposed french competition authority - as a result of Sanex acquisition		$ 25
Fine imposed by greek competition authority					$ 11
Loss contingency, pending claims, number (in cases) | case			171	171		174	146	115
Loss contingency, new claims filed, number (in cases) | case			22	99
Loss contingency, claims dismissed or settled, number (in cases) | case			25	43
Minimum
Loss Contingencies [Line Items]
Range of reasonably possible losses			$ 0	$ 0
Maximum
Loss Contingencies [Line Items]
Range of reasonably possible losses			$ 250	$ 250

Segment Information (Details)

Segment Information (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)segment	Sep. 30, 2016USD ($)
Segment Reporting [Abstract]
Number of product segments (in segments) | segment			2
Number of operating segments (in segments) | segment			5
Number of reportable segments (in segments) | segment			5
Segment Reporting Information [Line Items]
Total Net sales	$ 3,974	$ 3,867	$ 11,562	$ 11,474
Total Operating profit	927	1,071	2,665	2,882
Charge for a previously disclosed litigation matter		6		6
Gain on sale of land in Mexico			0	97
Global Growth and Efficiency Program
Segment Reporting Information [Line Items]
Total Global Growth and Efficiency Program charges, pretax	$ 58	42	$ 246	156
Sales Revenue, Net
Segment Reporting Information [Line Items]
Percentage of consolidated Net sales represented by sales outside US	75.00%		75.00%
Percentage of consolidated Net sales coming from emerging markets	50.00%		50.00%
MEXICO
Segment Reporting Information [Line Items]
Gain on sale of land in Mexico		97		97
Operating Segments | Oral, Personal and Home Care
Segment Reporting Information [Line Items]
Total Net sales	$ 3,401	3,306	$ 9,863	9,789
Total Operating profit	976	1,009	2,826	2,834
Operating Segments | Oral, Personal and Home Care | North America
Segment Reporting Information [Line Items]
Total Net sales	795	800	2,319	2,393
Total Operating profit	249	273	723	762
Operating Segments | Oral, Personal and Home Care | Latin America
Segment Reporting Information [Line Items]
Total Net sales	985	924	2,911	2,710
Total Operating profit	301	298	878	829
Operating Segments | Oral, Personal and Home Care | Europe
Segment Reporting Information [Line Items]
Total Net sales	642	609	1,784	1,803
Total Operating profit	162	158	447	437
Operating Segments | Oral, Personal and Home Care | Asia Pacific
Segment Reporting Information [Line Items]
Total Net sales	728	723	2,111	2,163
Total Operating profit	220	230	644	668
Operating Segments | Oral, Personal and Home Care | Africa/Eurasia
Segment Reporting Information [Line Items]
Total Net sales	251	250	738	720
Total Operating profit	44	50	134	138
Operating Segments | Pet Nutrition
Segment Reporting Information [Line Items]
Total Net sales	573	561	1,699	1,685
Total Operating profit	161	162	481	479
Corporate
Segment Reporting Information [Line Items]
Total Operating profit	$ (210)	$ (100)	$ (642)	$ (431)

Fair Value Measurements and F43

Fair Value Measurements and Financial Instruments (Details 1) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Designated derivative instruments
Derivative assets, designated	$ 9	$ 36
Derivative liabilities, designated	78	4
Derivatives not designated
Derivative assets not designated	1	0
Derivative liabilities not designated	1	0
Total derivative instruments, Assets	10	36
Total derivative instruments, Liabilities	79	4
Other financial instruments
Total other financial instruments	186	23
Other current assets
Other financial instruments
Marketable securities	186	23
Other current assets | Interest rate swap contracts
Designated derivative instruments
Derivative assets, designated	0	1
Other current assets | Foreign currency contracts
Designated derivative instruments
Derivative assets, designated	9	29
Derivatives not designated
Derivative assets not designated	1	0
Other current assets | Commodity contracts
Designated derivative instruments
Derivative assets, designated	0	0
Other assets | Interest rate swap contracts
Designated derivative instruments
Derivative assets, designated	0	1
Other assets | Foreign currency contracts
Designated derivative instruments
Derivative assets, designated	0	5
Other accruals | Interest rate swap contracts
Designated derivative instruments
Derivative liabilities, designated	0	0
Other accruals | Foreign currency contracts
Designated derivative instruments
Derivative liabilities, designated	36	4
Derivatives not designated
Derivative liabilities not designated	1	0
Other accruals | Commodity contracts
Designated derivative instruments
Derivative liabilities, designated	0	0
Other liabilities | Interest rate swap contracts
Designated derivative instruments
Derivative liabilities, designated	2	0
Other liabilities | Foreign currency contracts
Designated derivative instruments
Derivative liabilities, designated	$ 40	$ 0

Fair Value Measurements and F44

Fair Value Measurements and Financial Instruments (Details 2) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Carrying Value
Debt Instrument [Line Items]
Carrying value of long-term debt	$ 6,520	$ 6,520
Fair Value, Inputs, Level 2
Debt Instrument [Line Items]
Estimated fair value of long-term debt	$ 6,740	$ 6,717

Fair Value Measurements and F45

Fair Value Measurements and Financial Instruments (Details 3) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Foreign Currency Contracts | Derivatives Not Designated as Hedging Instruments
Derivative Instruments, Gain (Loss) [Line Items]
Notional value	$ 42	$ 6	$ 42	$ 6
Activity related to derivatives not designated as hedging instruments [Abstract]
Gain (loss) on instruments	0	0	0	5
Gain (loss) on hedged items	0	0	0	(5)
Fair Value Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Notional value	1,695	1,489	1,695	1,489
Activity related to fair value hedges [Abstract]
Gain (loss) on derivatives	(15)	(5)	(18)	(1)
Gain (loss) on hedged items	15	5	18	1
Fair Value Hedges | Foreign Currency Contracts
Derivative Instruments, Gain (Loss) [Line Items]
Notional value	1,095	239	1,095	239
Activity related to fair value hedges [Abstract]
Gain (loss) on derivatives	(14)	1	(15)	(4)
Gain (loss) on hedged items	14	(1)	15	4
Fair Value Hedges | Interest Rate Swaps
Derivative Instruments, Gain (Loss) [Line Items]
Notional value	600	1,250	600	1,250
Activity related to fair value hedges [Abstract]
Gain (loss) on derivatives	(1)	(6)	(3)	3
Gain (loss) on hedged items	1	6	3	(3)
Cash Flow Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Notional value	725	698	725	698
Activity related to cash flow hedges [Abstract]
Gain (loss) recognized in OCI	(8)	1	(28)	(6)
Gain (loss) reclassified into Cost of sales	(4)	(1)	(2)	(1)
Cash Flow Hedges | Foreign Currency Contracts
Derivative Instruments, Gain (Loss) [Line Items]
Notional value	724	690	724	690
Activity related to cash flow hedges [Abstract]
Gain (loss) recognized in OCI	(8)	3	(28)	(6)
Gain (loss) reclassified into Cost of sales	(4)	(1)	(2)	(1)
Cash Flow Hedges | Commodity Contracts
Derivative Instruments, Gain (Loss) [Line Items]
Notional value	1	8	1	8
Activity related to cash flow hedges [Abstract]
Gain (loss) recognized in OCI	0	(2)	0	0
Gain (loss) reclassified into Cost of sales	0	0	0	0
Net Investment Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Notional value	1,339	2,107	1,339	2,107
Activity related to net investment hedges [Abstract]
Gain (loss) on instruments	(45)	(17)	(184)	(56)
Gain (loss) on hedged items	44	17	184	56
Net Investment Hedges | Foreign Currency Contracts
Derivative Instruments, Gain (Loss) [Line Items]
Notional value	749	917	749	917
Activity related to net investment hedges [Abstract]
Gain (loss) on instruments	(23)	(4)	(69)	(20)
Gain (loss) on hedged items	22	4	69	20
Net Investment Hedges | Foreign Currency Debt
Derivative Instruments, Gain (Loss) [Line Items]
Notional value	590	1,190	590	1,190
Activity related to net investment hedges [Abstract]
Gain (loss) on instruments	(22)	(13)	(115)	(36)
Gain (loss) on hedged items	$ 22	$ 13	$ 115	$ 36

Fair Value Measurements and F46

Fair Value Measurements and Financial Instruments (Details 4) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Other current assets
Schedule of Available-for-sale Securities [Line Items]
Marketable securities	$ 186	$ 23
Other current assets | Bonds Issued By Argentinian Government
Schedule of Available-for-sale Securities [Line Items]
Marketable securities	36
Assets
Schedule of Available-for-sale Securities [Line Items]
Held-to-maturity securities	36
Fair Value, Inputs, Level 1 | Other current assets | Deposits
Schedule of Available-for-sale Securities [Line Items]
Marketable securities	186
Fair Value, Inputs, Level 2 | Assets
Schedule of Available-for-sale Securities [Line Items]
Held-to-maturity securities, fair value	$ 36