Colgate-Palmolive (CL) 10-K 18 Feb 21 2020 FY Annual report Financial data

Cover

Cover - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2020	Jan. 31, 2021	Jun. 30, 2020
Entity Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	1-644
Entity Registrant Name	COLGATE-PALMOLIVE COMPANY
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	13-1815595
Entity Address, Address Line One	300 Park Avenue
Entity Address, City or Town	New York,
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10022
City Area Code	212
Local Phone Number	310-2000
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 62.8
Entity Common Stock, Shares Outstanding		848,562,678
Documents Incorporated by Reference	Documents Form 10-K Reference Portions of Proxy Statement for the 2021 Annual Meeting of Stockholders Part III, Items 10 through 14
Entity Central Index Key	0000021665
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Amendment Flag	false
Common Stock
Entity Information [Line Items]
Title of 12(b) Security	Common Stock, $1.00 par value
Trading Symbol	CL
Security Exchange Name	NYSE
0.000% Notes due 2021
Entity Information [Line Items]
Title of 12(b) Security	0.000% Notes due 2021
Trading Symbol	CL21A
Security Exchange Name	NYSE
0.500% Notes Due 2026
Entity Information [Line Items]
Title of 12(b) Security	0.500% Notes due 2026
Trading Symbol	CL26
Security Exchange Name	NYSE
1.375% Notes Due 2034
Entity Information [Line Items]
Title of 12(b) Security	1.375% Notes due 2034
Trading Symbol	CL34
Security Exchange Name	NYSE
0.875% Notes due 2039
Entity Information [Line Items]
Title of 12(b) Security	0.875% Notes due 2039
Trading Symbol	CL39
Security Exchange Name	NYSE

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Statement [Abstract]
Net sales	$ 16,471	$ 15,693	$ 15,544
Cost of sales	6,454	6,368	6,313
Gross profit	10,017	9,325	9,231
Selling, general and administrative expenses	6,019	5,575	5,389
Other (income) expense, net	113	196	148
Operating profit	3,885	3,554	3,694
Non-service related postretirement costs	74	108	87
Interest (income) expense, net	164	145	143
Income before income taxes	3,647	3,301	3,464
Provision for income taxes	787	774	906
Net income including noncontrolling interests	2,860	2,527	2,558
Less: Net income attributable to noncontrolling interests	165	160	158
Net income attributable to Colgate-Palmolive Company	$ 2,695	$ 2,367	$ 2,400
Earnings per common share, basic (in dollars per share)	$ 3.15	$ 2.76	$ 2.76
Earnings per common share, diluted (in dollars per share)	$ 3.14	$ 2.75	$ 2.75

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of Comprehensive Income [Abstract]
Net income including noncontrolling interests	$ 2,860	$ 2,527	$ 2,558
Other comprehensive income (loss), net of tax:
Cumulative translation adjustments	(24)	25	(237)
Retirement plan and other retiree benefit adjustments	(40)	(100)	38
Gains (losses) on cash flow hedges	(2)	(12)
Gains (losses) on cash flow hedges			10
Total Other comprehensive income (loss), net of tax	(66)	(87)	(189)
Total Comprehensive income including noncontrolling interests	2,794	2,440	2,369
Less: Net income attributable to noncontrolling interests	165	160	158
Less: Cumulative translation adjustments attributable to noncontrolling interests	6	(2)	(19)
Total Comprehensive income attributable to noncontrolling interests	171	158	139
Total Comprehensive income attributable to Colgate-Palmolive Company	$ 2,623	$ 2,282	$ 2,230

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Current Assets
Cash and cash equivalents	$ 888	$ 883
Receivables (net of allowances of $89 and $76, respectively)	1,264	1,440
Inventories	1,673	1,400
Other current assets	513	456
Total current assets	4,338	4,179
Property, plant and equipment, net	3,716	3,750
Goodwill	3,824	3,508
Other intangible assets, net	2,894	2,667
Deferred income taxes	291	177
Other assets	857	753
Total assets	15,920	15,034
Current Liabilities
Notes and loans payable	258	260
Current portion of long-term debt	9	254
Accounts payable	1,393	1,237
Accrued income taxes	403	370
Other accruals	2,341	1,917
Total current liabilities	4,404	4,038
Long-term debt	7,334	7,333
Deferred income taxes	426	507
Other liabilities	2,655	2,598
Total liabilities	14,819	14,476
Commitments and contingent liabilities	0	0
Shareholders’ Equity
Common stock, $1 par value (2,000,000,000 shares authorized, 1,465,706,360 shares issued)	1,466	1,466
Additional paid-in capital	2,969	2,488
Retained earnings	23,699	22,501
Accumulated other comprehensive income (loss)	(4,345)	(4,273)
Unearned compensation	(1)	(2)
Treasury stock, at cost	(23,045)	(22,063)
Total Colgate-Palmolive Company shareholders’ equity	743	117
Noncontrolling interests	358	441
Total equity	1,101	558
Total liabilities and equity	$ 15,920	$ 15,034

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Current Assets
Allowance for doubtful accounts receivable, current	$ 89	$ 76
Shareholders’ Equity
Common stock par value (in USD per share)	$ 1	$ 1
Common stock authorized (in shares)	2,000,000,000	2,000,000,000
Common stock issued (in shares)	1,465,706,360	1,465,706,360

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Millions		Total	Common Stock	Additional Paid-In Capital	Unearned Compensation	Treasury Stock	Retained Earnings	Accumulated Other Comprehensive Income (Loss)		Noncontrolling Interests
Beginning balance at Dec. 31, 2017			$ 1,466	$ 1,984	$ (5)	$ (20,181)	$ 20,531	$ (3,855)		$ 303
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		$ 2,558					2,400			158
Other comprehensive income (loss), net of tax		(189)						(170)		(19)
Dividends (in dollars per share)	[1]						(1,448)			(143)
Stock-based compensation expense				109
Shares issued for stock options				137		190
Shares issued for restricted stock awards				(31)		31
Treasury stock acquired						(1,238)
Other				5	2	2	132	(163)	[2]
Ending balance at Dec. 31, 2018			1,466	2,204	(3)	(21,196)	21,615	(4,188)		299
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		2,527					2,367			160
Other comprehensive income (loss), net of tax		(87)						(85)		(2)
Dividends (in dollars per share)	[1]						(1,472)			(141)
Stock-based compensation expense				100
Shares issued for stock options				210		305
Shares issued for restricted stock awards				(29)		29
Noncontrolling interests acquired										125
Treasury stock acquired						(1,202)
Other	[2]			3	1	1	(9)
Ending balance at Dec. 31, 2019		558	1,466	2,488	(2)	(22,063)	22,501	(4,273)		441
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		2,860					2,695			165
Other comprehensive income (loss), net of tax		(66)						(72)		6
Dividends (in dollars per share)	[1]						(1,502)			(152)
Stock-based compensation expense				107
Shares issued for stock options				400		462
Shares issued for restricted stock awards				(31)		31
Noncontrolling interests acquired										(99)
Treasury stock acquired						(1,476)
Other				5	1	1	5			(3)
Ending balance at Dec. 31, 2020		$ 1,101	$ 1,466	$ 2,969	$ (1)	$ (23,045)	$ 23,699	$ (4,345)		$ 358
[1]	* Two dividends were declared in each of the first quarters of 2020, 2019 and 2018.
[2]	(1) As a result of the early adoption of ASU 2018-02, the Company reclassified the stranded tax effects in Accumulated other comprehensive income (loss) resulting from the Tax Cuts and Jobs Act to Retained earnings.

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Shareholders' Equity (Parenthetical)	3 Months Ended			12 Months Ended
	Mar. 31, 2020Dividend	Mar. 31, 2019Dividend	Mar. 31, 2018Dividend	Dec. 31, 2020$ / shares	[1]	Dec. 31, 2019$ / shares	[1]	Dec. 31, 2018$ / shares
Statement of Stockholders' Equity [Abstract]
Dividends declared per common share (in USD per share) | $ / shares				$ 1.75		$ 1.71		$ 1.66
Number of dividends declared per quarter | Dividend	2	2	2
[1]	* Two dividends were declared in each of the first quarters of 2020, 2019 and 2018.

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Operating Activities
Net income including noncontrolling interests		$ 2,860	$ 2,527	$ 2,558
Adjustments to reconcile net income including noncontrolling interests to net cash provided by operations:
Depreciation and amortization		539	519	511
Restructuring and termination benefits, net of cash		(71)	18	(7)
Stock-based compensation expense		107	100	109
Loss on early extinguishment of debt		23	0	0
Charge for U.S. tax reform		0	0	80
Deferred income taxes		(120)	17	27
Voluntary benefit plan contributions		0	(113)	(67)
Cash effects of changes in:
Receivables		138	19	(79)
Inventories		(251)	(77)	(58)
Accounts payable and other accruals		520	36	18
Other non-current assets and liabilities		(26)	87	(36)
Net cash provided by operations		3,719	3,133	3,056
Investing Activities
Capital expenditures		(410)	(335)	(436)
Purchases of marketable securities and investments		(143)	(184)	(169)
Proceeds from sale of marketable securities and investments		124	131	156
Payment for acquisitions, net of cash acquired		(353)	(1,711)	(728)
Other		3	0	7
Net cash used in investing activities		(779)	(2,099)	(1,170)
Financing Activities
Short-term borrowing/(repayment) less than 90 days - net		497	294	546
Principal payments on debt	[1]	(1,061)	(1,441)	(725)
Proceeds from issuance of debt		0	2,595	0
Dividends paid		(1,654)	(1,614)	(1,591)
Purchases of treasury shares		(1,476)	(1,202)	(1,238)
Proceeds from exercise of stock options		874	498	329
Purchases of non-controlling interests in subsidiaries		(99)	0	0
Net cash used in financing activities		(2,919)	(870)	(2,679)
Effect of exchange rate changes on Cash and cash equivalents		(16)	(7)	(16)
Net (decrease) increase in Cash and cash equivalents		5	157	(809)
Cash and cash equivalents at beginning of year		883	726	1,535
Cash and cash equivalents at end of year		888	883	726
Supplemental Cash Flow Information
Income taxes paid		845	803	847
Interest paid		$ 188	$ 185	$ 194
[1]	(1) For the year ended December 31, 2020, Principal payments on debt includes cash charges of $20 related to the extinguishment of debt prior to maturity. See Note 6, Long-Term Debt and Credit Facilities for additional information.

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Parenthetical) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)
Statement of Cash Flows [Abstract]
Cash charges for extinguishment of debt prior to maturity	$ 20

Nature of Operations

Nature of Operations	12 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations	Nature of Operations The Company manufactures and markets a wide variety of products in the U.S. and around the world in two product segments: Oral, Personal and Home Care; and Pet Nutrition. Oral, Personal and Home Care products include toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners and other similar items. These products are sold primarily to a variety of traditional and eCommerce retailers, wholesalers and distributors worldwide. Pet Nutrition products include specialty pet nutrition products manufactured and marketed by Hill’s Pet Nutrition. The principal customers for Pet Nutrition products are authorized pet supply retailers, veterinarians and eCommerce retailers. Principal global and regional trademarks include Colgate, Palmolive, elmex, hello, meridol, Sorriso, Tom’s of Maine, EltaMD, Filorga, Irish Spring, Lady Speed Stick, PCA Skin, Protex, Sanex, Softsoap, Speed Stick, Ajax, Axion, Fabuloso, Murphy, Soupline and Suavitel, as well as Hill’s Science Diet and Hill’s Prescription Diet. The Company’s principal classes of products accounted for the following percentages of worldwide Net sales for the past three years: 2020 2019 2018 Oral Care 44 % 46 % 47 % Personal Care 21 % 20 % 20 % Home Care 18 % 18 % 18 % Pet Nutrition 17 % 16 % 15 % Total 100 % 100 % 100 %

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Principles of Consolidation The Consolidated Financial Statements include the accounts of Colgate-Palmolive Company and its majority-owned or controlled subsidiaries. Intercompany transactions and balances have been eliminated. The Company’s investments in consumer products companies with interests ranging between 20% and 50%, where the Company has significant influence over the investee, are accounted for using the equity method. Net income (loss) from such investments is recorded in Other (income) expense, net in the Consolidated Statements of Income. As of December 31, 2020 and 2019, equity method investments included in Other assets in the Consolidated Balance Sheets were $56 and $50, respectively. Unrelated third parties hold the remaining ownership interests in these investments. Investments with less than a 20% interest are recorded at cost and periodically adjusted based on observable price changes or quoted market prices in active markets, if applicable. Use of Estimates The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America requires management to use judgment and make estimates that affect the reported amounts of assets and liabilities and disclosure of contingent gains and losses at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The level of uncertainty in estimates and assumptions increases with the length of time until the underlying transactions are completed. As such, the most significant uncertainty in the Company’s assumptions and estimates involved in preparing the financial statements includes pension and other retiree benefit cost assumptions, stock-based compensation, asset impairments, uncertain tax positions, tax valuation allowances, legal and other contingency reserves. Additionally, the Company uses available market information and other valuation methodologies in assessing the fair value of financial instruments and retirement plan assets. 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. Actual results could ultimately differ from those estimates. Revenue Recognition The Company’s revenue contracts represent a single performance obligation to sell its products to trade customers. Sales are recorded at the time control of the products is transferred to trade customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for the products. Control is the ability of trade customers to “direct the use of” and “obtain” the benefit from our products. In evaluating the timing of the transfer of control of products to trade customers, the Company considers several control indicators, including significant risks and rewards of products, the Company’s right to payment and the legal title of the products. Based on the assessment of control indicators, sales are generally recognized when products are delivered to trade customers. Net sales reflect the transaction prices for contracts, which include units shipped at selling list prices reduced by variable consideration. Variable consideration includes expected sales returns and the cost of current and continuing promotional programs. Current promotional programs primarily include product listing allowances and co-operative advertising arrangements. Continuing promotional programs are predominantly consumer coupons and volume-based sales incentive arrangements. The cost of promotional programs is estimated using the expected value method considering all reasonably available information, including the Company’s historical experience and its current expectations, and is reflected in the transaction price when sales are recorded. Adjustments to the cost of promotional programs in subsequent periods are generally not material, as the Company’s promotional programs are typically of short duration, thereby reducing the uncertainty inherent in such estimates. Sales returns are generally accepted at the Company’s discretion and are not material to the Company’s Consolidated Financial Statements. The Company’s contracts with trade customers do not have significant financing components or non-cash consideration and the Company does not have unbilled revenue or significant amounts of prepayments from customers. The Company records Net sales excluding taxes collected on its sales to its trade customers. Shipping and handling activities are accounted for as contract fulfillment costs and classified as Selling, general and administrative expenses. Shipping and Handling Costs Shipping and handling costs are classified as Selling, general and administrative expenses and were $1,392, $1,275 and $1,255 for the years ended December 31, 2020, 2019 and 2018, respectively. Marketing Costs The Company markets its products through advertising and other promotional activities. Advertising costs are included in Selling, general and administrative expenses and are expensed as incurred. Certain consumer and trade promotional programs, such as consumer coupons, are recorded as a reduction of sales. Cash and Cash Equivalents The Company considers all highly liquid investments with original maturities of three months or less at the time of purchase to be cash equivalents. Inventories The cost of approximately 75% of inventories is determined using the FIFO method, which is stated at the lower of cost or net realizable value. The cost of all other inventories, in the U.S. and Mexico, is determined using the LIFO method, which is stated at the lower of cost or market. Inventories in excess of one year of forecasted sales are classified in the Consolidated Balance Sheets as non-current “Other assets.” Property, Plant and Equipment Land, buildings and machinery and equipment are stated at cost. Depreciation is provided, primarily using the straight-line method, over-estimated useful lives ranging from 3 to 15 years for machinery and equipment and up to 40 years for buildings. Depreciation attributable to manufacturing operations is included in Cost of sales. The remaining component of depreciation is included in Selling, general and administrative expenses. Goodwill and Other Intangibles Goodwill and indefinite-life intangible assets, such as the Company’s global brands, are subject to impairment tests at least annually or when events or changes in circumstances indicate that an asset may be impaired. These tests were performed and did not result in an impairment charge. Other intangible assets with finite lives, such as local brands and trademarks, customer relationships and non-compete agreements, are amortized over their estimated useful lives, generally ranging from 5 to 40 years. Amortization expense related to intangible assets is included in Other (income) expense, net, which is included in Operating profit. Income Taxes The provision for income taxes is determined using the asset and liability method. Under this method, deferred tax assets and liabilities are recognized based upon the differences between the financial statement and tax bases of assets and liabilities using enacted tax rates that will be in effect at the time such differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. The Company uses a comprehensive model to recognize, measure, present and disclose in its financial statements uncertain tax positions that the Company has taken or expects to take on an income tax return. The Company recognizes interest expense and penalties related to unrecognized tax benefits within Provision for income taxes. Financial Instruments Derivative instruments are recorded as assets and liabilities at estimated fair value based on available market information. The Company’s derivative instruments that qualify for hedge accounting are designated as either fair value hedges, cash flow hedges or net investment hedges. For fair value hedges, changes in the fair value of the derivative, as well as the offsetting changes in the fair value of the hedged item, are recognized in earnings each period. For cash flow hedges, changes in the fair value of the derivative are recorded in Other comprehensive income (loss) and are recognized in earnings when the offsetting effect of the hedged item is also recognized in earnings. For hedges of the net investment in foreign subsidiaries, changes in the fair value of the derivative are recorded in Other comprehensive income (loss) to offset the change in the value of the net investment being hedged. Cash flows related to hedges are classified in the same category as the cash flows from the hedged item in the Consolidated Statements of Cash Flows. The Company may also enter into certain foreign currency and interest rate instruments that economically hedge certain of its risks but do not qualify for hedge accounting. Changes in fair value of these derivative instruments, based on quoted market prices, are recognized in earnings each period. The Company’s derivative instruments and other financial instruments are more fully described in Note 7, Fair Value Measurements and Financial Instruments along with the related fair value measurement considerations. Stock-Based Compensation The Company recognizes the cost of employee services received in exchange for awards of equity instruments, such as stock options and restricted stock units (both performance-based and time-vested), based on the fair value of those awards at the date of grant over the requisite service period. The Company uses the Black-Scholes-Merton ( “ Black-Scholes ” ) option pricing model to estimate the fair value of stock option awards. In addition to performance conditions, performance-based restricted stock units also include a total shareholder return modifier. Because the total shareholder return modifier is considered a market condition, the Company uses a Monte-Carlo simulation model to determine the fair value of performance-based restricted stock units. The fair value of time-vested restricted stock units is determined based on the closing market price of the Company’s stock at the date of grant. Stock-based compensation plans, related expenses and assumptions used in the Black-Scholes option pricing model are more fully described in Note 8, Capital Stock and Stock-Based Compensation Plans. Currency Translation The assets and liabilities of foreign subsidiaries, other than those operating in highly inflationary environments, are translated into U.S. dollars at year-end exchange rates with resulting translation gains and losses accumulated in a separate component of shareholders’ equity. Income and expense items are translated into U.S. dollars at average rates of exchange prevailing during the year. For subsidiaries operating in highly inflationary environments, local currency-denominated non-monetary assets, including inventories, goodwill and property, plant and equipment, are remeasured at their historical exchange rates, while local currency-denominated monetary assets and liabilities are remeasured at year-end exchange rates. Remeasurement adjustments for these operations are included in Net income attributable to Colgate-Palmolive Company. Recent Accounting Pronouncements In January 2021, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2021-1, “Reference Rate Reform (Topic 848): Scope” This ASU clarifies that certain optional expedients and exceptions in Topic 848 apply to derivatives that are affected by the discounting transition due to reference rate reform. This guidance was effective upon issuance for the Company and is not expected to have a material impact on the Company’s Consolidated Financial Statements. In October 2020, the FASB issued ASU No. 2020-10, “Codification Improvements.” This ASU improves the consistency of the codification topics by including all disclosure guidance in the appropriate disclosure section and also clarifies the application of various provisions in the codification. This guidance was effective for the Company beginning on January 1, 2021 and is not expected to have a material impact on the Company’s Consolidated Financial Statements. In March 2020, the FASB issued ASU No. 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting.” The ASU provides optional expedients and exceptions for applying generally accepted accounting principles (“GAAP”) to contracts, hedging relationships and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. This guidance was effective upon issuance of this ASU for contract modifications and hedging relationships on a prospective basis and is not expected to have a material impact on the Company’s Consolidated Financial Statements. In March 2020, the FASB issued ASU No. 2020-03, “Codification to Financial Instruments.” This ASU improves and clarifies various financial instruments topics, including the current expected credit losses (“CECL”) standard issued in 2016. The ASU addresses seven different issues that describe the areas of improvement and the related amendments to GAAP, intended to make the standards easier to understand and apply by eliminating inconsistencies and providing clarifications. The amendments related to Issue 1, Issue 2, Issue 4 and Issue 5 were effective upon issuance of this update. The amendments related to Issue 3, Issue 6 and Issue 7 were effective for the Company beginning on January 1, 2020. The guidance did not have a material impact on the Company’s Consolidated Financial Statements. In January 2020, the FASB issued ASU No. 2020-01, “Investments-Equity Securities (Topic 321), Investments-Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815)-Clarifying the Interactions between Topic 321, Topic 323, and Topic 815.” The guidance provides clarification of the interaction of rules for equity securities, the equity method of accounting and forward contracts and purchase options on certain types of securities. This guidance was effective for the Company beginning on January 1, 2021. This guidance is not expected to have a material impact on the Company’s Consolidated Financial Statements. In December 2019, the FASB issued ASU No. 2019-12, “Income taxes (Topic 740): Simplifying the Accounting for Income Taxes.” This ASU simplifies the accounting for income taxes by removing certain exceptions to the general principles in ASC 740 and also clarifies and amends existing guidance to improve consistent application. This guidance was effective for the Company beginning on January 1, 2021. This guidance is not expected to have a material impact on the Company’s Consolidated Financial Statements. In November 2019, the FASB issued ASU No. 2019-11, “Codification Improvements to Topic 326, Financial Instruments - Credit Losses.” This ASU clarifies and addresses certain items related to amendments in ASU 2016-13. This guidance was effective for the Company beginning on January 1, 2020 and did not have a material impact on the Company’s Consolidated Financial Statements. In April 2019, the FASB issued ASU No. 2019-04, “Codification Improvements to Financial Instruments-Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Financial Instruments (Topic 825).” This ASU clarifies three topics related to financial instruments accounting. This guidance was effective for the Company beginning on January 1, 2020 and did not have a material impact on the Company’s Consolidated Financial Statements. In August 2018, the FASB issued ASU No. 2018-13, “Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement.” This guidance removes certain disclosure requirements related to the fair value hierarchy, modifies existing disclosure requirements related to measurement uncertainty and adds new disclosure requirements. The new disclosure requirements include disclosing the changes in unrealized gains and losses for the period included in other comprehensive income for recurring Level 3 fair value measurements held at the end of the reporting period and the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. This guidance was effective for the Company beginning on January 1, 2020 and did not have a material impact on the Company’s Consolidated Financial Statements. In January 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 implied fair value, essentially eliminating step two from the goodwill impairment test. The 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 was effective for the Company on a prospective basis beginning on January 1, 2020 and did not have a material impact on the Company’s Consolidated Financial Statements. In June 2016, the FASB issued ASU No. 2016-13, “Financial Instruments-Credit Losses (Topic 326).” This ASU introduces the current expected credit loss (CECL) model, which requires an entity to measure credit losses for certain financial instruments and financial assets, including trade receivables. Under this update, on initial recognition and at each reporting period, an entity is required to recognize an allowance that reflects the entity’s current estimate of credit losses expected to be incurred over the life of the financial instrument. The Company adopted the new standard, which primarily impacts the Company’s trade receivables and related methodology for assessing the collectability of its customer accounts, on January 1, 2020, on a “modified retrospective” basis. The adoption of this ASU did not have a material impact on the Company’s Consolidated Financial Statements. Reclassifications

Acquisitions

Acquisitions	12 Months Ended
	Dec. 31, 2020
Business Combinations [Abstract]
Acquisitions	Acquisitions Hello Products LLC (“hello”) On January 31, 2020, the Company acquired hello, an oral care business, for cash consideration of $351. The acquisition was financed with a combination of debt and cash. This acquisition is part of the Company’s strategy to focus on high growth segments within its Oral Care, Personal Care and Pet Nutrition businesses. The total purchase price consideration of $351 has been allocated to the net assets acquired based on their respective estimated fair values as follows: Receivables $ 11 Inventories 13 Other assets and liabilities, net (4) Other intangible assets 160 Goodwill 171 Fair value of net assets acquired $ 351 Other intangible assets acquired include trademarks, valued at $115, which are considered to have a finite useful life of 25 years, and customer relationships valued at $45, which are considered to have a finite useful life of 17 years. Goodwill of $171 was allocated to the North America segment. The Company expects that goodwill will be deductible for tax purposes. Pro forma results of operations have not been presented as the impact on the Company’s Consolidated Financial Statements is not material. Laboratoires Filorga Cosmétiques (“Filorga”) On September 19, 2019, the Company acquired the Filorga skin health business for cash consideration of €1,516 (approximately $1,674), which included interest on the equity purchase price plus additional consideration of €32 (approximately $38), the majority of which related to repayment of loans from former shareholders of Filorga. Filorga is a premium anti-aging skin health brand focused primarily on facial care. This acquisition is part of the Company’s strategy to focus on high growth segments within its Oral Care, Personal Care and Pet Nutrition businesses, including by expanding its portfolio in premium skin health. The total purchase price consideration of $1,712 has been allocated to the net assets acquired based on their respective estimated fair values as follows: Cash $ 30 Receivables 53 Inventories 70 Other current assets 18 Other intangible assets 1,051 Goodwill 923 Other current liabilities (67) Deferred income taxes (276) Noncontrolling interests (90) Fair value of net assets acquired $ 1,712 Other intangible assets acquired include trademarks of $774, which are considered to have an indefinite useful life, and customer relationships of $277, which are considered to have a finite useful life of 14 years. Goodwill of $923 was allocated to the Europe segment. Goodwill will not be deductible for tax purposes. In the third quarter of 2020, the Company completed the purchase of the outstanding non-controlling interest of Filorga’s joint venture based in Hong Kong and covering the Hong Kong and China markets for approximately €85 (approximately $99) in cash. The results of operations of Filorga are reported on a lag basis. As such, Filorga’s results of operations from December 1, 2019 through November 30, 2020 and from the Acquisition Date through November 30, 2019 are included in the Company’s Consolidated Results of Operations for the periods ended December 31, 2020 and 2019, respectively. Pro forma results of operations have not been presented as the impact on the Company’s Consolidated Financial Statements is not material. Nigeria Joint Venture On August 15, 2019, the Company acquired a 51% controlling interest in Colgate Tolaram Pte. Ltd., a joint venture which owns the Nigeria-based Hypo Homecare Products Limited, for $31.

Restructuring and Related Imple

Restructuring and Related Implementation Charges	12 Months Ended
	Dec. 31, 2020
Restructuring and Related Activities [Abstract]
Restructuring and Related Implementation Charges	Restructuring and Related Implementation Charges The Company’s restructuring program (the “Global Growth and Efficiency Program”), which commenced in the fourth quarter of 2012, concluded on December 31, 2019. Initiatives under the Global Growth and Efficiency Program 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. Substantially all initiatives under the Global Growth and Efficiency Program had been implemented as of December 31, 2019. In the third quarter of 2020, the Company adjusted the accrual balances related to certain projects approved prior to the conclusion of the Global Growth and Efficiency Program to reflect its revised estimate of remaining liabilities. This adjustment resulted in a reduction of $16 ($13 aftertax), of which $3 was recorded in Selling, general and administrative expenses and $13 was recorded in Other (income) expense, net. During the year ended December 31, 2020, the Company also made cash payments of $53 related to projects approved prior to the conclusion of the Global Growth and Efficiency Program, and the remaining accrual balance at December 31, 2020 was $31. No new restructuring projects were approved for implementation during the year ended December 31, 2020. For the years ended December 31, 2019 and 2018, restructuring and related implementation charges are reflected in the Consolidated Statements of Income as follows: 2019 2018 Cost of sales $ 8 $ 31 Selling, general and administrative expenses 60 33 Other (income) expense, net 57 88 Non-service related postretirement costs 7 9 Total Global Growth and Efficiency Program charges, pretax $ 132 $ 161 Total Global Growth and Efficiency Program charges, aftertax $ 102 $ 125 Restructuring and related implementation charges in the preceding table and the adjustment recorded in the third quarter of 2020 were recorded in the Corporate segment as these initiatives were predominantly centrally directed and controlled and were not included in internal measures of segment operating performance. Total charges incurred for the Global Growth and Efficiency Program related to initiatives undertaken by the following reportable operating segments: Total Program 2019 2018 Charges North America 4 % 18 % 17 % Latin America 12 % 10 % 5 % Europe 4 % (2) % 19 % Asia Pacific 6 % 13 % 4 % Africa/Eurasia (1) % 5 % 5 % Hill ’ s Pet Nutrition 2 % 19 % 8 % Corporate 73 % 37 % 42 % Total 100 % 100 % 100 % Over the course of the Global Growth and Efficiency Program, the Company incurred total pretax charges of $1,854 ($1,380 aftertax) in connection with the implementation of various projects as follows: Total Program Charges as of December 31, 2019 Employee-Related Costs $ 706 Incremental Depreciation 128 Asset Impairments 58 Other 962 Total $ 1,854 Over the course of the Global Growth and Efficiency Program, the majority of the costs incurred related to the following projects: the implementation of the Company’s overall hubbing strategy; the consolidation of facilities; the extension of shared business services and streamlining of global functions; 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; and the implementation of a Corporate efficiencies program. The following table summarizes the activity for the restructuring and related implementation charges for the years ended December 31, 2019 and 2018 and the related accruals: Employee-Related Costs Incremental Asset Impairments Other Total Balance at December 31, 2017 $ 127 $ — $ — $ 107 $ 234 Charges 53 2 16 90 161 Cash payments (107) — — (60) (167) Charges against assets (9) (2) (16) — (27) Foreign exchange (4) — — — (4) Other — — — 5 5 Balance at December 31, 2018 $ 60 $ — $ — $ 142 $ 202 Charges 25 36 6 65 132 Cash payments (55) — — (58) (113) Charges against assets (7) (36) (6) (27) (76) Foreign exchange 3 — — — 3 Other — — — (48) (48) Balance at December 31, 2019 $ 26 $ — $ — $ 74 $ 100 Employee-Related Costs primarily included severance and other termination benefits and were calculated based on long-standing benefit practices, local statutory requirements and, in certain cases, voluntary termination arrangements. Employee-Related Costs also included pension and other retiree benefit enhancements amounting to $7 and $9 for the years ended December 31, 2019 and 2018, respectively, which are reflected as Charges against assets within Employee-Related Costs in the preceding table 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 10, Retirement Plans and Other Retiree Benefits for additional information. Incremental Depreciation was 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 were recorded to write down inventories and 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 consisted 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 years ended December 31, 2019 and 2018 included third-party incremental costs related to the development and implementation of new business and strategic initiatives of $32 and $42, respectively, and contract termination costs and charges resulting directly from exit activities of $5 and $48, respectively. These charges were expensed as incurred. Also included in Other charges for the year ended December 31, 2019 were other exit costs of $28 related to the consolidation of facilities. Other decreases to the restructuring accruals reflect the reclassification of restructuring accruals to lease assets as a result of the Company’s adoption of ASU No. 2018-10, “Codification Improvement to Topic 842, Leases,” on January 1, 2019.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	12 Months Ended
	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets The net carrying value of Goodwill as of December 31, 2020 and 2019 by segment was as follows: 2020 2019 Oral, Personal and Home Care North America $ 912 $ 737 Latin America 171 212 Europe 2,415 2,234 Asia Pacific 190 186 Africa/Eurasia 121 124 Total Oral, Personal and Home Care 3,809 3,493 Pet Nutrition 15 15 Total Goodwill $ 3,824 $ 3,508 The change in the amount of Goodwill during 2020 is primarily due to the acquisition of hello (see Note 3, Acquisitions for further information) and the impact of foreign currency translation. Other intangible assets as of December 31, 2020 and 2019 were comprised of the following: 2020 2019 Gross Carrying Amount Accumulated Amortization Net Gross Carrying Amount Accumulated Amortization Net Trademarks - finite life $ 902 $ (422) $ 480 $ 771 $ (381) $ 390 Other finite life intangible assets 786 (237) 549 699 (169) 530 Indefinite life intangible assets 1,865 — 1,865 1,747 — 1,747 Total Other intangible assets $ 3,553 $ (659) $ 2,894 $ 3,217 $ (550) $ 2,667 The change in the net carrying amounts of Other intangible assets during 2020 was primarily due to the acquisition of hello (see Note 3, Acquisitions for further information) and amortization expense of $88. Annual estimated amortization expense for each of the next five years is expected to be approximately $83. As a result of the COVID-19 pandemic, in the first quarter of 2020, the Company assessed whether a “triggering event” had occurred indicating a possible impairment of its goodwill and indefinite-life intangible assets. As a result of this assessment, the Company determined that a “triggering event” had occurred relative to its recently acquired Filorga skin health business and, as required, performed a quantitative analysis, with the assistance of a third-party valuation firm, of the value of the Filorga reporting unit and its indefinite-life intangible assets. Based on the analysis, the Company determined that the fair value of the Filorga reporting unit and the related indefinite-life intangible assets continued to exceed their carrying values and were not impaired. As of the date of the annual goodwill impairment test, the fair value of the Filorga reporting unit exceeded its carrying value by approximately 10%. Either a reduction in the long-term growth rate of 50 basis points or an increase in the discount rate of 25 basis points would result in the fair value of the Filorga reporting unit exceeding its carrying value by less than 5%. As of the date of the annual impairment test, the fair value of the Filorga indefinite-life intangible assets exceeded their carrying value by less than 10%. Either a reduction in the long-term growth rate of 50 basis points or an increase in the discount rate of 25 basis points would result in the fair value of the Filorga indefinite-life intangible assets approximating their carrying value. Determining the fair value of the Filorga reporting unit and indefinite-life intangible assets requires significant judgments and estimates by management regarding several key inputs, including future cash flows consistent with management’s strategic plans, sales growth rates and the selection of royalty rates and a discount rate, among others. Estimating sales growth rates requires significant judgment by management in areas such as future economic conditions, category and industry growth rates, product pricing, consumer tastes and preferences and future expansion expectations. Given the inherent uncertainties in estimating the future impacts of the COVID-19 pandemic on global macroeconomic conditions and interest rates in general and on the Filorga business in particular, actual results may differ from management’s current estimates and could have an adverse impact on one or more of the assumptions used in our quantitative models related to the Filorga reporting unit and the related indefinite-life intangible assets, resulting in potential impairment charges in subsequent periods. Given the recent acquisition of Filorga, where there is inherently a lower surplus of fair value over carrying value, management will continue to assess triggering events that may necessitate additional qualitative or quantitative analyses of our reporting units and indefinite-life intangible assets in future periods. Except for the recently acquired Filorga business, as described above, where there is inherently a lower surplus of fair value over carrying value, the estimated fair value of the Company’s reporting units substantially exceeds the recorded carrying value. The fair value of the Company’s indefinite-life intangible assets other than Filorga exceeds their recorded carrying value by at least 20%. Therefore, it is not reasonably likely that significant changes in these estimates would occur that would result in an impairment charge related to these assets.

Long-Term Debt and Credit Facil

Long-Term Debt and Credit Facilities	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Long-Term Debt and Credit Facilities	Long-Term Debt and Credit Facilities Long-term debt consisted of the following at December 31: Weighted Average Interest Rate Maturities 2020 2019 Notes 1.9% 2021 - 2078 $ 6,170 $ 6,988 Commercial paper (0.3)% 2021 1,139 579 Finance Lease Obligations Various Various 34 20 7,343 7,587 Less: Current portion of long-term debt (9) (254) Total $ 7,334 $ 7,333 The weighted-average interest rate on short-term borrowings included in Notes and loans payable in the Consolidated Balance Sheets as of December 31, 2020 and 2019 was 4.8% and 1.8%, respectively. The Company classifies commercial paper and notes maturing within the next twelve months as long-term debt when it has the intent and ability to refinance such obligations on a long-term basis. Excluding such obligations, scheduled maturities of long-term debt and finance leases outstanding as of December 31, 2020, were as follows: Years Ended December 31, 2021 $ 631 2022 413 2023 896 2024 498 2025 130 Thereafter 3,636 The Company has entered into interest rate swap agreements and foreign exchange contracts related to certain of these debt instruments. See Note 7, Fair Value Measurements and Financial Instruments for further information about the Company’s financial instruments. The Company’s debt issuances and redemptions support its capital structure strategy objectives of funding its business and growth initiatives while minimizing its risk-adjusted cost of capital. During the first quarter of 2019, the Company issued €500 of seven-year notes at a fixed coupon rate of 0.500% and €500 of fifteen-year notes at a fixed coupon rate of 1.375%. During the fourth quarter of 2019, the Company issued €500 of two-year notes at a fixed coupon rate of 0.000% and €500 of twenty-year notes at a fixed coupon rate of 0.875%. The debt issuances were under the Company’s shelf registration statement. Proceeds from the debt issuances were used for general corporate purposes, which included the retirement of commercial paper and, in the case of the debt issuances in the first quarter of 2019, the repayment of the Company’s $500 1.750% fixed rate notes, which became due in March 2019, and €500 floating rate notes, which became due in May 2019. During the fourth quarter of 2020, the Company redeemed prior to maturity all of its outstanding 2.450% notes due 2021 with a principal amount $300, originally issued on November 8, 2011, and all of its outstanding 2.300% notes due 2022 with a principal amount of $500, originally issued on May 3, 2012. These redemptions were financed with commercial paper borrowings and cash. The Company recorded a loss on the early extinguishment of debt of $23, which is included in Interest (income) expense, net in the Consolidated Statements of Income, representing the difference between the redemption price and the carrying amount of the debt extinguished. At December 31, 2020, the Company had access to unused domestic and foreign lines of credit of $4,657 (including under the facilities discussed below) and could also issue long-term debt pursuant to an effective shelf registration statement. In November 2018, the Company entered into an amended and restated $2,650 revolving credit facility with a syndicate of banks that was scheduled to expire in November 2023. In August 2019, the term of the facility was extended by one year and it now expires in November 2024. In August 2020, the Company entered into a $1,500 364-day credit facility with a syndicate of banks that is scheduled to expire in August 2021. Commitment fees related to the credit facilities are not material. Certain agreements with respect to the Company’s bank borrowings contain financial and other covenants as well as cross-default provisions. Noncompliance with these requirements could ultimately result in the acceleration of amounts owed. The Company is in full compliance with all such requirements and believes the likelihood of noncompliance is remote.

Fair Value Measurements and Fin

Fair Value Measurements and Financial Instruments	12 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [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. Provided below are details of the Company’s exposures by type of risk and derivative instruments by type of hedge designation. Valuation Considerations The Company’s derivative instruments include interest rate swap contracts, forward-starting interest rate swaps, 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 classified as follows: Level 1: Based upon quoted market prices in active markets for identical assets or liabilities. Level 2: Based upon observable market-based inputs or unobservable inputs that are corroborated by market data. Level 3: Based upon unobservable inputs reflecting the reporting entity’s own assumptions. Foreign Exchange Risk As the Company markets its products in over 200 countries and territories, it is exposed to currency fluctuations related to manufacturing and selling its products in currencies other than the U.S. dollar. The Company manages its foreign currency exposures through a combination of cost containment measures, sourcing strategies, selling price increases and the hedging of certain costs in an effort to minimize the impact on earnings of foreign currency rate movements. The Company primarily utilizes foreign currency contracts, including forward and swap contracts, option contracts, foreign and 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. The duration of foreign currency contracts generally does not exceed 12 months and the contracts are valued using observable market rates (Level 2 valuation). Interest Rate Risk The Company manages its targeted mix of fixed and floating rate debt with debt issuances and by entering into interest rate swaps in order to mitigate fluctuations in earnings and cash flows that may result from interest rate volatility. The Company utilizes forward-starting interest rate swaps to mitigate the risk of variability in interest rate for future debt issuances. The notional amount, interest payment and maturity date of the swaps generally match the principal, interest payment and maturity date of the related debt, and the swaps are valued using observable benchmark rates (Level 2 valuation). Commodity Price Risk The Company is exposed to price volatility related to raw materials used in production, such as essential oils, resins, pulp, tropical oils, tallow, corn, poultry and soybeans. The Company manages its raw material exposures through a combination of cost containment measures, sourcing strategies, ongoing productivity initiatives and the limited use of commodity hedging contracts. Futures contracts are used on a limited basis, primarily in the Hill’s Pet Nutrition segment, to manage volatility related to raw material inventory purchases of certain traded commodities, and these contracts are measured using quoted commodity exchange prices (Level 1 valuation). The duration of the commodity contracts generally does not exceed 12 months. Credit Risk 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 with diverse, credit-worthy counterparties based upon both strong credit ratings and other credit considerations. 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 as of December 31, 2020 and December 31, 2019: Assets Liabilities Account Fair Value Account Fair Value Designated derivative instruments December 31, 2020 December 31, 2019 December 31, 2020 December 31, 2019 Interest rate swap contracts Other assets 14 4 Other liabilities — — Forward-starting interest rate swaps Other assets 5 — Other liabilities — — Foreign currency contracts Other current assets 7 6 Other accruals 93 15 Foreign currency contracts Other assets — — Other liabilities — 14 Commodity contracts Other current assets 3 — Other accruals — — Total designated $ 29 $ 10 $ 93 $ 29 Other financial instruments Marketable securities Other current assets 37 23 Total other financial instruments $ 37 $ 23 The carrying amount of cash, cash equivalents, accounts receivable and short-term debt approximated fair value as of December 31, 2020 and 2019. The estimated fair value of the Company’s long-term debt, including the current portion, as of December 31, 2020 and 2019, was $8,175 and $8,056, respectively, and the related carrying value was $7,343 and $7,587, respectively. 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). The following amounts were recorded on the Consolidated Balance Sheet related to cumulative basis adjustment for fair value hedges as of: December 31, 2020 December 31, 2019 Long-term debt: Carrying amount of hedged item $ 413 $ 403 Cumulative hedging adjustment included in the carrying amount $ 14 $ 4 The following tables present the notional values as of: December 31, 2020 Foreign Foreign Currency Debt Interest Rate Swaps Forward-Starting Interest Rate Swaps Commodity Contracts Fair Value Hedges $ 589 $ — $ 400 $ — $ — $ 989 Cash Flow Hedges 854 — — 300 17 1,171 Net Investment Hedges 528 4,523 — — — 5,051 December 31, 2019 Foreign Foreign Currency Debt Interest Rate Swaps Forward-Starting Interest Rate Swaps Commodity Contracts Fair Value Hedges $ 388 $ — $ 400 $ — $ — $ 788 Cash Flow Hedges 761 — — — 20 781 Net Investment Hedges 478 3,856 — — — 4,334 The following table presents the location and amount of gains (losses) on hedges recognized on the Company’s Consolidated Statements of Income: Twelve Months Ended December 31, 2020 2019 Cost of sales Selling, general and administrative expenses Interest (income) expense, net Cost of sales Selling, general and administrative expenses Interest (income) expense, net Gain (loss) on hedges recognized in income: Interest rate swaps designated as fair value hedges: Derivative instrument $ — $ — $ (10) $ — $ — $ (11) Hedged items — — 10 — — 11 Foreign currency contracts designated as fair value hedges: Derivative instrument — 29 — — 10 — Hedged items — (29) — — (10) — Foreign currency contracts designated as cash flow hedges: Amount reclassified from OCI 1 — — 5 — — Commodity contracts designated as cash flow hedges: Amount reclassified from OCI (1) — — 1 — — Total gain (loss) on hedges recognized in income $ — $ — $ — $ 6 $ — $ — The following table presents the location and amount of unrealized gains (losses) on hedges included in OCI: Twelve Months Ended December 31, 2020 2019 Foreign currency contracts designated as cash flow hedges: Gain (loss) recognized in OCI $ (11) $ (9) Forward-starting interest rate swaps designated as cash flow hedges: Gain (loss) recognized in OCI 5 — Commodity contracts designated as cash flow hedges: Gain (loss) recognized in OCI 3 — Foreign currency contracts designated as net investment hedges: Gain (loss) on instruments (52) 4 Gain (loss) on hedged items 52 (4) Foreign currency debt designated as net investment hedges: Gain (loss) on instruments (356) 12 Gain (loss) on hedged items 356 (12) Total unrealized gain (loss) on hedges recognized in OCI $ (3) $ (9)

Capital Stock and Stock-Based C

Capital Stock and Stock-Based Compensation Plans	12 Months Ended
	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Capital Stock and Stock-Based Compensation Plans	Capital Stock and Stock-Based Compensation Plans Preference Stock The Company has the authority to issue 50,262,150 shares of preference stock. Stock Repurchases On June 18, 2018, the Board authorized the repurchase of shares of the Company’s common stock having an aggregate purchase price of up to $5 billion under a new share repurchase program (the “2018 Program”), which replaced a previously authorized share repurchase program. The Company commenced repurchases of shares of the Company’s common stock under the 2018 Program beginning June 19, 2018. The Board also has authorized share repurchases on an ongoing basis to fulfill certain requirements of the Company’s compensation and benefit programs. The shares are repurchased from time to time in open market or privately negotiated transactions at the Company’s discretion, subject to market conditions, customary blackout periods and other factors. The Company repurchased its common stock at a cost of $1,476 during 2020 under the 2018 Program. The Company may use either authorized and unissued shares or treasury shares to meet share requirements resulting from the exercise of stock options and the vesting of restricted stock unit awards. A summary of common stock and treasury stock activity for the three years ended December 31 is as follows: Common Stock Outstanding Treasury Stock Balance, January 1, 2018 874,701,118 591,005,242 Common stock acquired (18,786,897) 18,786,897 Shares issued for stock options 6,040,920 (6,040,920) Shares issued for restricted stock units and other 957,651 (957,651) Balance, December 31, 2018 862,912,792 602,793,568 Common stock acquired (17,219,642) 17,219,642 Shares issued for stock options 8,145,777 (8,145,777) Shares issued for restricted stock units and other 862,852 (862,852) Balance, December 31, 2019 854,701,779 611,004,581 Common stock acquired (18,701,843) 18,701,843 Shares issued for stock options 13,018,354 (13,018,354) Shares issued for restricted stock units and other 875,311 (875,311) Balance, December 31, 2020 849,893,601 615,812,759 Stock-Based Compensation The Company recognizes the cost of employee services received in exchange for awards of equity instruments, such as stock options and restricted stock units, based on the fair value of those awards at the date of grant. The fair value of restricted stock units, generally based on market prices, is amortized on a straight-line basis over the requisite service period. The estimated fair value of stock options on the date of grant is amortized on a straight-line basis over the requisite service period for each separately vesting portion of the award. Awards to employees eligible for retirement prior to the award becoming fully vested are recognized as compensation cost from the grant date through the date that the employee first becomes eligible to retire and is no longer required to provide service to earn the award. The Company has one incentive compensation plan pursuant to which it issues restricted stock units (both performance-based and time-vested) and stock options to employees and shares of common stock and stock options to non-employee directors. The Personnel and Organization Committee of the Board of Directors, which is comprised entirely of independent directors, administers the incentive compensation plan. The total stock-based compensation expense charged against pretax income for this plan was $107, $100 and $109 for the years ended December 31, 2020, 2019 and 2018, respectively. The total income tax benefit recognized on stock-based compensation, excluding excess tax benefits discussed below, was approximately $20, $20 and $25 for the years ended December 31, 2020, 2019 and 2018, respectively. Stock-based compensation expense is recorded within Selling, general and administrative expenses in the Corporate segment as these amounts are not included in internal measures of segment operating performance. The Company uses the Black-Scholes option pricing model to estimate the fair value of stock option awards. The weighted-average estimated fair value of stock options granted in the years ended December 31, 2020, 2019 and 2018 was $11.26, $10.48 and $9.48, respectively. Fair value is estimated using the Black-Scholes option pricing model with the assumptions summarized in the following table: 2020 2019 2018 Expected term of options 6 years 6 years 4.5 years Expected volatility rate 21.8 % 19.2 % 17.7 % Risk-free interest rate 0.5 % 1.5 % 2.8 % Expected dividend yield 2.3 % 2.3 % 2.5 % The weighted-average expected term of options granted each year was determined with reference to historical exercise and post-vesting cancellation experience, the vesting period of the awards and the contractual term of the awards, among other factors. Expected volatility incorporates implied share-price volatility derived from exchange traded options on the Company’s common stock. The risk-free interest rate for the expected term of the option is based on the yield of a zero-coupon U.S. Treasury bond with a maturity period equal to the option’s expected term. Performance-based Restricted Stock Units In 2019, the Company evolved its approach to granting long-term incentive compensation from granting time-vested restricted stock units following the conclusion of a three-year performance cycle to granting officers and other key employees a target number of unearned performance-based restricted stock units at the beginning of each three-year performance cycle. Awards are earned and vest following the conclusion of the performance period on the basis of achievement of performance goals established at the commencement of each three-year performance period. A summary of performance-based restricted stock unit activity for the year ended December 31, 2020 is presented below: Shares Weighted Average Grant Date Fair Value Per Award Performance-based restricted stock units as of January 1, 2020 346 $ 67 Activity: Granted 557 76 Forfeited (38) 69 Performance-based restricted stock units as of December 31, 2020 865 $ 73 As of December 31, 2020, there was $41 of total unrecognized compensation expense related to unvested performance-based restricted stock unit awards, which will be recognized ratably over the remaining performance period. The Company uses a Monte-Carlo simulation model to estimate the fair value of performance-based restricted stock units at the date of grant. Time-Vested Restricted Stock Units The Company also grants time-vested restricted stock unit awards. As described above, under the Company’s previous long-term incentive program, time-vested restricted stock unit awards were granted to officers and other key employees following a three-year performance period. Awards vest at the end of the restriction period, which is three years from the date of grant. The most recent award granted under the previous long-term incentive program was in 2018 for the 2015-2017 performance period. No awards were granted for the 2016-2018 or 2017-2019 performance periods. Awards for the 2018-2020 performance period will be granted in 2021. As of December 31, 2020, approximately 12,420,000 shares of common stock were available for future restricted stock unit awards. A summary of restricted stock unit activity during 2020 is presented below: Shares Weighted Average Grant Date Fair Value Per Award Restricted stock units as of January 1, 2020 2,203 $ 71 Activity: Granted 727 77 Vested (1,130) 74 Forfeited (63) 71 Restricted stock units as of December 31, 2020 1,737 $ 73 As of December 31, 2020, there was $58 of total unrecognized compensation expense related to unvested restricted stock unit awards, which will be recognized over a weighted-average period of 2.1 years. The total fair value of restricted stock units vested during the years ended December 31, 2020, 2019 and 2018 was $58, $53 and $55, respectively. Stock Options The Company issues non-qualified stock options to non-employee directors, officers and other employees. Beginning in 2019, stock options have a contractual term of eight years. Prior to 2019, stock options generally had a contractual term of six years. Stock options generally vest ratably over three years. As of December 31, 2020, approximately 36,144,000 shares of common stock were available for future stock option grants. A summary of stock option activity during 2020 is presented below: Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life Intrinsic Value of Unexercised Options outstanding, January 1, 2020 36,185 $ 69 Granted 4,976 76 Exercised (13,019) 67 Forfeited or expired (601) 72 Options outstanding, December 31, 2020 27,541 72 4 $ 386 Options exercisable, December 31, 2020 18,084 $ 70 3 $ 274 As of December 31, 2020, there was $32 of total unrecognized compensation expense related to unvested options, which will be recognized over a weighted-average period of 1.5 years. The total intrinsic value of options exercised during the years ended December 31, 2020, 2019 and 2018 was $136, $84 and $92, respectively. The benefits of tax deductions in excess of grant date fair value resulting from the exercise of stock options and vesting of restricted stock unit awards for the years ended December 31, 2020, 2019 and 2018 were $8, $6 and $12, respectively, and are recognized in the provision for income taxes as a discrete item in the quarterly period in which they occur and classified as an operating cash flow. Cash proceeds received from options exercised for the years ended December 31, 2020, 2019 and 2018 were $874, $498 and $329, respectively.

Employee Stock Ownership Plan

Employee Stock Ownership Plan	12 Months Ended
	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Employee Stock Ownership Plan	Employee Stock Ownership Plan In 1989, the Company expanded its Employee Stock Ownership Plan ( “ ESOP ” ) through the introduction of a leveraged ESOP that funds certain benefits for employees who have met eligibility requirements. As of December 31, 2020 and 2019, there were 11,545,950 and 13,359,448 shares of common stock, respectively, outstanding and issued to the Company ’ s ESOP. During 2000, the ESOP entered into a loan agreement with the Company under which the benefits of the ESOP may be extended through 2035. As of December 31, 2020, the ESOP had outstanding borrowings from the Company of $1, which represents unearned compensation shown as a reduction in Shareholders’ equity. Dividends on stock held by the ESOP are paid to the ESOP trust and, together with cash contributions from the Company, are (a) used by the ESOP to repay principal and interest, (b) credited to participant accounts or (c) used for contributions to the Company’s defined contribution plans. Stock is allocated to participants based upon the ratio of the current year’s debt service to the sum of total outstanding principal and interest payments over the life of the debt. As of December 31, 2020, 10,454,105 shares of common stock had been released and allocated to participant accounts and 1,091,845 shares of common stock were available for future allocation to participant accounts. Dividends on the stock used to repay principal and interest or credited to participant accounts are deductible for income tax purposes and, accordingly, are reflected net of their tax benefit in the Consolidated Statements of Changes in Shareholders’ Equity. Annual expense related to the ESOP was $0 in 2020, 2019 and 2018. The Company paid dividends on the shares held by the ESOP of $23 in 2020, $25 in 2019 and $29 in 2018. The Company did not make any contributions to the ESOP in 2020, 2019 or 2018.

Retirement Plans and Other Reti

Retirement Plans and Other Retiree Benefits	12 Months Ended
	Dec. 31, 2020
Retirement Benefits [Abstract]
Retirement Plans and Other Retiree Benefits	Retirement Plans and Other Retiree Benefits Retirement Plans The Company and certain of its U.S. and foreign subsidiaries maintain defined benefit retirement plans. Benefits under these plans are based primarily on years of service and employees’ earnings. In the U.S., effective January 1, 2014, the Company provides virtually all future retirement benefits through the Company’s defined contribution plan. As a result, service after December 31, 2013 is not considered for participants in the Company’s principal U.S. defined benefit retirement plan. Participants in the Company’s principal U.S. defined benefit retirement plan whose retirement benefit was determined under the cash balance formula continue to earn interest credits on their vested balances as of December 31, 2013 but no longer receive pay credits. Participants whose retirement benefit was determined under the final average earnings formula or career average earnings formula continue to have their accrued benefit adjusted for pay increases until termination of employment. In the Company’s principal U.S. plans and certain funded foreign plans, funds are contributed to trusts in accordance with regulatory limits to provide for current service and for any unfunded projected benefit obligation over a reasonable period. The target asset allocation for the Company’s defined benefit plans is as follows: United States International Asset Category Equity securities 21 % 38 % Fixed income securities 74 % 46 % Real estate and other investments 5 % 16 % Total 100 % 100 % At December 31, 2020, the allocation of the Company’s plan assets and the level of valuation input, as applicable, for each major asset category were as follows: Level of Valuation Pension Plans United States International Other Retiree Cash and cash equivalents Level 1 $ 50 $ 12 $ — U.S. common stocks Level 1 — 1 — International common stocks Level 1 — 8 — Pooled funds (1) Level 1 65 117 — Fixed income securities (2) Level 2 1,117 59 2 Guaranteed investment contracts (3) Level 2 1 55 — 1,233 252 2 Investments valued using NAV per share (4) Domestic, developed and emerging markets equity funds 456 183 1 Fixed income funds (5) 136 225 — Hedge funds (6) — 6 — Multi-asset funds (7) 77 2 — Real estate funds (8) 34 30 — 703 446 1 Other assets and liabilities, net (9) (15) — — Total Investments $ 1,921 $ 698 $ 3 At December 31, 2019, the allocation of the Company’s plan assets and the level of valuation input, as applicable, for each major asset category were as follows: Level of Valuation Pension Plans United States International Other Retiree Cash and cash equivalents Level 1 $ 41 $ 15 $ 1 U.S. common stocks Level 1 49 3 1 International common stocks Level 1 — 3 — Pooled funds (1) Level 1 29 104 2 Fixed income securities (2) Level 2 1,067 14 20 Guaranteed investment contracts (3) Level 2 1 42 — 1,187 181 24 Investments valued using NAV per share (4) Domestic, developed and emerging markets equity funds 328 165 7 Fixed income funds (5) 177 196 3 Hedge funds (6) 3 17 — Multi-asset funds (7) 155 2 2 Real estate funds (8) 41 25 1 704 405 13 Other assets and liabilities, net (9) (85) — — Total Investments $ 1,806 $ 586 $ 37 _______ (1) Pooled funds primarily invest in U.S. and foreign equity securities, debt and money market securities. (2) The fixed income securities are traded over-the-counter and certain of these securities lack daily pricing or liquidity and as such are classified as Level 2. As of both December 31, 2020 and 2019, approximately 50% of the U.S. pension plan fixed income portfolio was invested in U.S. treasury or agency securities, with the remainder invested in other government bonds and corporate bonds. (3) The guaranteed investment contracts (“GICs”) represent contracts with insurance companies measured at the cash surrender value of each contract. The Level 2 valuation reflects that the cash surrender value is based principally on a referenced pool of investment funds with active redemption. (4) Investments that are measured at fair value using net asset value (“NAV”) per share as a practical expedient have not been classified in the fair value hierarchy. The NAV is based on the value of the underlying investments owned, minus its liabilities, divided by the number of shares outstanding. There are no unfunded commitments related to these investments. Redemption notice period primarily ranges from 0-3 months and redemption frequency windows range from daily to quarterly. (5) Fixed income funds primarily invest in U.S. government and investment grade corporate bonds. (6) Consists of investments in underlying hedge fund strategies that are primarily implemented through the use of long and short equity and fixed income securities and derivative instruments such as futures and options. (7) Multi-asset funds primarily invest across a variety of asset classes, including global stocks and bonds, as well as alternative strategies. (8) Real estate is valued using the NAV per unit of funds that are invested in real estate property. The investment value of the real estate property is determined quarterly using independent market appraisals as determined by the investment manager. (9) This category primarily includes unsettled trades for investments purchased and sold and dividend receivables. Equity securities in the U.S. plans include investments in the Company’s common stock representing 0% and 3% of U.S. plan assets at December 31, 2020 and December 31, 2019, respectively. In 2020 and 2019, the U.S. plans sold 739,869 and 588,334 shares, respectively, of the Company’s common stock to the Company. No shares of the Company’s stock were purchased by the U.S. plans in 2020 or 2019. The plans received dividends on the Company’s common stock of $0 in 2020 and $2 in 2019. Other Retiree Benefits The Company and certain of its subsidiaries provide health care and life insurance benefits for retired employees to the extent not provided by government-sponsored plans. The Company uses a December 31 measurement date for its defined benefit and other retiree benefit plans. Summarized information for the Company’s defined benefit and other retiree benefit plans is as follows: Pension Plans Other Retiree Benefit Plans 2020 2019 2020 2019 2020 2019 United States International Change in Benefit Obligations Benefit obligations at beginning of year $ 2,272 $ 2,147 $ 876 $ 787 $ 1,050 $ 876 Service cost 1 1 17 14 20 15 Interest cost 74 90 21 22 37 41 Participants’ contributions — — 5 2 — — Acquisitions/plan amendments — — 30 3 — — Actuarial loss (gain) 171 181 65 82 61 166 Foreign exchange impact — — 46 8 (9) 1 Termination benefits 3 7 — — — — Curtailments and settlements (3) — (7) (9) — — Benefit payments (155) (154) (40) (35) (47) (49) Other — — — 2 — — Benefit obligations at end of year $ 2,363 $ 2,272 $ 1,013 $ 876 $ 1,112 $ 1,050 Change in Plan Assets Fair value of plan assets at beginning of year $ 1,806 $ 1,568 $ 586 $ 510 $ 37 $ 54 Actual return on plan assets 243 262 59 76 2 8 Company contributions 30 130 36 30 11 24 Participants’ contributions — — 5 2 — — Foreign exchange impact — — 26 12 — — Settlements and acquisitions (3) — 26 (9) — — Benefit payments (155) (154) (40) (35) (47) (49) Other — — — — — — Fair value of plan assets at end of year $ 1,921 $ 1,806 $ 698 $ 586 $ 3 $ 37 Funded Status Benefit obligations at end of year $ 2,363 $ 2,272 $ 1,013 $ 876 $ 1,112 $ 1,050 Fair value of plan assets at end of year 1,921 1,806 698 586 3 37 Net amount recognized $ (442) $ (466) $ (315) $ (290) $ (1,109) $ (1,013) Amounts Recognized in Balance Sheet Noncurrent assets $ 20 $ — $ 18 $ 13 $ — $ — Current liabilities (30) (28) (14) (13) (45) (13) Noncurrent liabilities (432) (438) (319) (290) (1,064) (1,000) Net amount recognized $ (442) $ (466) $ (315) $ (290) $ (1,109) $ (1,013) Amounts Recognized in Accumulated Other Comprehensive Income (Loss) Actuarial loss $ 902 $ 910 $ 255 $ 238 $ 429 $ 388 Transition/prior service cost 1 1 7 7 — (1) $ 903 $ 911 $ 262 $ 245 $ 429 $ 387 Accumulated benefit obligation $ 2,325 $ 2,236 $ 946 $ 816 $ — $ — Pension Plans Other Retiree Benefit Plans 2020 2019 2020 2019 2020 2019 United States International Weighted-Average Assumptions Used to Determine Benefit Obligations Discount rate 2.65 % 3.40 % 1.61 % 2.06 % 2.88 % 3.56 % Expected long-term rate of return on plan assets 5.70 % 6.30 % 2.93 % 3.38 % 5.70 % 6.30 % Long-term rate of compensation increase 3.50 % 3.50 % 2.62 % 2.83 % 3.50 % 3.50 % ESOP growth rate — % — % — % — % 10.00 % 10.00 % Medical cost trend rate of increase — % — % — % — % 6.00 % 6.00 % Interest Crediting Rate 2.48 % 3.21 % 0.83 % 0.85 % — % — % The actuarial losses incurred during 2020 were primarily driven by a decrease in discount rates applied against future expected benefit payments that resulted in an increase in the benefit obligation for both the U.S. pension and Other retiree benefit plans. The actuarial gains recorded during 2019 for both the U.S. pension and other retiree benefit plans were primarily a result of an increase in discount rates applied against future estimated benefit payments. The overall investment objective of the plans is to balance risk and return so that obligations to employees are met. The Company evaluates its expected long-term rate of return on plan assets on an annual basis. In determining the expected long-term rate of return, the Company considers the nature of the plans’ investments and the historical rates of return. The assumed expected long-term rate of return on plan assets as of December 31, 2020 for the U.S. plans was 5.70%. Average annual rates of return for the U.S. plans for the most recent 1-year, 5-year, 10-year, 15-year and 25-year periods were 15%, 9%, 8%, 7% and 7%, respectively. Similar assessments were performed in determining rates of return on international pension plan assets to arrive at the Company’s 2020 weighted-average expected long-term rate of return on plan assets of 2.93%. The medical cost trend rate of increase assumed in measuring the expected cost of benefits is projected to decrease from 6.00% in 2021 to 4.75% by 2026, remaining at 4.75% for the years thereafter. Pension plans with projected benefit obligations in excess of plan assets and plans with accumulated benefit obligations in excess of plan assets as of December 31 consisted of the following: 2020 2019 Benefit Obligation Exceeds Fair Value of Plan Assets Projected benefit obligation $ 1,092 $ 2,862 Fair value of plan assets 299 2,094 Accumulated benefit obligation 882 875 Fair value of plan assets 134 166 Other Retiree Benefit plans with accumulated postretirement benefit obligation in excess of plan assets as of December 31 consisted of the following: 2020 2019 Benefit Obligation Exceeds Fair Value of Plan Assets Accumulated postretirement benefit obligation $ 1,112 $ 958 Fair value of plan assets 3 37 Summarized information regarding the net periodic benefit costs for the Company’s defined benefit and other retiree benefit plans is as follows: Pension Plans Other Retiree Benefit Plans 2020 2019 2018 2020 2019 2018 2020 2019 2018 United States International Components of Net Periodic Benefit Cost Service cost $ 1 $ 1 $ 1 $ 17 $ 14 $ 14 $ 20 $ 15 $ 16 Interest cost 74 90 86 21 22 21 37 41 38 Expected return on plan assets (111) (103) (115) (22) (19) (21) (2) (3) (2) Amortization of transition and prior service costs (credits) — — — — 1 — — — — Amortization of actuarial loss 46 51 47 9 9 8 18 11 14 Net periodic benefit cost $ 10 $ 39 $ 19 $ 25 $ 27 $ 22 $ 73 $ 64 $ 66 Other postretirement charges 4 7 9 — 1 2 — — — Total pension cost $ 14 $ 46 $ 28 $ 25 $ 28 $ 24 $ 73 $ 64 $ 66 Weighted-Average Assumptions Used to Determine Net Periodic Benefit Cost Discount rate 3.40 % 4.38 % 3.73 % 2.06 % 2.80 % 2.53 % 3.56 % 4.43 % 3.80 % Expected long-term rate of return on plan assets 6.30 % 6.60 % 6.60 % 3.38 % 4.06 % 4.04 % 6.30 % 6.60 % 6.60 % Long-term rate of compensation increase 3.50 % 3.50 % 3.50 % 2.83 % 2.86 % 2.79 % — % — % — % ESOP growth rate — % — % — % — % — % — % 10.00 % 10.00 % 10.00 % Medical cost trend rate of increase — % — % — % — % — % — % 6.00 % 6.00 % 6.00 % Interest Crediting Rate 3.21 % 4.26 % 3.73 % 0.85 % 0.85 % 0.85 % — % — % — % The service related component of pension and other postretirement benefit costs is included in Operating profit. The non-service related components (interest cost, expected return on assets and amortization of actuarial gains and losses) are included in the line item “Non-service related postretirement costs,” which is below Operating profit. Other postretirement charges in 2020, 2019 and 2018 include pension and other benefit enhancements amounting to $3, $7 and $9, respectively. Other postretirement charges from 2019 and 2018 were incurred pursuant to the Global Growth and Efficiency Program. Other postretirement charges in 2019 also include charges of $1, in part due to retirements under the Global Growth and Efficiency Program. The Company made voluntary contributions of $0, $113 and $67 in 2020, 2019 and 2018, respectively, to its U.S. retirement plans. Expected Contributions and Benefit Payments The Company does not expect to make any voluntary contributions to its U.S. postretirement plans for the year ending December 31, 2021. Actual funding may differ from current estimates depending on the variability of the market value of the assets as compared to the obligation and other market or regulatory conditions. Benefit payments expected to be paid from the Company’s assets to participants in unfunded plans are estimated to be approximately $90 for the year ending December 31, 2021. Total benefit payments expected to be paid to participants in both funded and unfunded plans are estimated as follows: Pension Plans Years Ended December 31, United States International Other Retiree Benefit Plans Total 2021 $ 154 $ 42 $ 49 $ 245 2022 156 41 49 246 2023 157 42 50 249 2024 156 46 51 253 2025 155 45 52 252 2026-2030 741 244 269 1,254

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The components of Income before income taxes are as follows for the years ended December 31: 2020 2019 2018 United States $ 1,317 $ 1,050 $ 1,175 International 2,330 2,251 2,289 Total Income before income taxes $ 3,647 $ 3,301 $ 3,464 The Provision for income taxes consists of the following for the years ended December 31: 2020 2019 2018 United States $ 259 $ 180 $ 213 International 528 594 693 Total Provision for income taxes $ 787 $ 774 $ 906 Temporary differences between accounting for financial statement purposes and accounting for tax purposes result in the current provision for taxes being higher (lower) than the total provision for income taxes as follows: 2020 2019 2018 Goodwill and intangible assets $ 1 $ 34 $ 2 Property, plant and equipment 12 12 (15) Pension and other retiree benefits 10 (13) (7) Stock-based compensation (7) (1) 9 Right-of-use assets/lease liabilities (1) — — Tax credits and tax loss carryforwards (1) 3 (4) Deferred withholding tax 111 (21) (100) Other, net 18 (33) 62 Total deferred tax benefit (provision) $ 143 $ (19) $ (53) The difference between the statutory U.S. federal income tax rate and the Company’s global effective tax rate as reflected in the Consolidated Statements of Income is as follows: Percentage of Income before income taxes 2020 2019 2018 Tax at United States statutory rate 21.0 % 21.0 % 21.0 % State income taxes, net of federal benefit 1.0 0.6 1.0 Earnings taxed at other than United States statutory rate 3.3 4.6 5.6 Charge for U.S. tax reform (1) — — 2.3 Foreign tax credit carryback (2) — — (1.7) Benefit for foreign tax matters (3) (2.0) (0.9) (0.4) Foreign-derived intangible income benefit (1.6) (1.3) (1.1) Other, net (0.1) (0.6) (0.5) Effective tax rate 21.6 % 23.4 % 26.2 % _________ (1) On December 22, 2017, the Tax Cuts and Jobs Act (the “TCJA”) was enacted, which, among other things, lowered the U.S. corporate income tax rate to 21% from 35% and established a modified territorial system requiring a mandatory deemed repatriation tax on undistributed earnings of foreign subsidiaries. Beginning in 2018, the TCJA also requires a minimum tax on certain earnings generated by foreign subsidiaries while providing for tax-free repatriation of such earnings through a 100% dividends-received deduction. The Company’s effective income tax rate in 2017 included a provisional charge of $275, recorded in the fourth quarter of 2017, based on its initial analysis of the TCJA using information and estimates available as of February 15, 2018, the date on which the Company filed its Annual Report on Form 10-K for the year ended December 31, 2017. During 2018, the Company finalized its assessment of the impact of the TCJA and recognized an additional tax expense of $80 reflecting the impact of transition tax guidance issued by the U.S. Treasury and the update of certain estimates and calculations based on information available through the end of 2018. Any further guidance issued after December 31, 2018 may have an impact to the Company’s Provision for income tax in the period such guidance is effective. (2) In 2018, the Company generated excess foreign taxes associated with its foreign branch operations which are being carried back to 2017. This item is not expected to be recurring. (3) In 2020, the provision for income taxes includes $71 of income tax benefits recorded on a discrete period basis, of which $45 relates to previously recorded foreign withholding taxes and $26 relates to a previously recorded valuation allowance against a deferred tax asset. As part of the previously recorded charge for the TCJA, the Company has provided for foreign withholding taxes expected to be paid on the remittance of earnings from certain overseas subsidiaries no longer deemed indefinitely reinvested. As a result of a recent reorganization of the ownership structure of certain foreign subsidiaries, the Company determined that no withholding taxes will be due on the remittance by certain subsidiaries of earnings previously deemed reinvested and, accordingly, reversed $45 of previously recorded foreign withholding taxes. Also as part of the previously recorded charge for the TCJA, the Company provided a valuation allowance against a deferred tax asset related to the foreign tax credit carryforwards that the Company did not expect to be able to use due to changes made by the TCJA. As a result of a new operating structure being implemented within one of the Company's divisions, the Company believes the use of these foreign tax credit carryforwards will not be limited in the future and, accordingly, reversed the previously recorded valuation allowance of $26. In 2019, the provision for income taxes includes a net benefit of $29 related to changes enacted by the Swiss government to its corporate tax regime, which included, among other items, the repeal of certain preferential tax regimes and an increase to the cantonal tax rate for future periods. Additionally, the government provided transition rules which allowed companies to record goodwill for tax purposes, partially offsetting the impact on cash taxes of the higher cantonal rate over the next ten years. In 2018, the provision for income taxes includes a benefit of $15 related to several Supreme Court and Administrative Court rulings in a foreign jurisdiction allowing certain tax deductions which had the effect of reversing prior decisions. The components of deferred tax assets (liabilities) are as follows at December 31: 2020 2019 Deferred tax liabilities: Goodwill and intangible assets $ (603) $ (598) Property, plant and equipment (281) (303) Right-of-use assets (131) (135) Deferred withholding tax (95) (207) Other (52) (46) Total deferred tax liabilities (1,162) (1,289) Deferred tax assets: Pension and other retiree benefits 404 381 Tax credits and tax loss carryforwards 42 93 Lease liabilities 144 152 Accrued liabilities 250 221 Stock-based compensation 73 88 Other 125 83 Total deferred tax assets 1,038 1,018 Valuation Allowance $ (11) $ (59) Net deferred tax assets $ 1,027 $ 959 Net deferred income taxes $ (135) $ (330) 2020 2019 Deferred taxes included within: Assets: Deferred income taxes $ 291 $ 177 Liabilities: Deferred income taxes (426) (507) Net deferred income taxes $ (135) $ (330) Applicable U.S. income and foreign withholding taxes have been provided on substantially all of the Company’s accumulated earnings of foreign subsidiaries. Net tax benefits of $101, $13 and $2 were recorded directly through equity in 2020, 2019 and 2018, respectively. The net tax benefits in 2020 and 2019 predominantly include current and future tax impacts related to benefit plans. The amount in 2018 includes current and future tax impacts related to employee equity compensation and benefit plans. The Company uses a comprehensive model to recognize, measure, present and disclose in its financial statements uncertain tax positions that the Company has taken or expects to take on an income tax return. Unrecognized tax benefits activity for the years ended December 31, 2020, 2019 and 2018 is summarized below: 2020 2019 2018 Unrecognized tax benefits: Balance, January 1 $ 173 $ 190 $ 214 Increases as a result of tax positions taken during the current year 18 14 14 Decreases of tax positions taken during prior years (5) (21) (37) Increases of tax positions taken during prior years 57 20 9 Decreases as a result of settlements with taxing authorities and the expiration of statutes of limitations (19) (30) (6) Effect of foreign currency rate movements 3 — (4) Balance, December 31 $ 227 $ 173 $ 190 If all of the unrecognized tax benefits for 2020 above were recognized, approximately $213 would impact the effective tax rate and would result in a cash outflow of approximately $223. Although it is possible that the amount of unrecognized benefits with respect to our uncertain tax positions will increase or decrease in the next twelve months, the Company does not expect material changes. The Company recognized approximately $9 of interest expense, $0 of interest expense, $1 of interest benefit related to the above unrecognized tax benefits within income tax expense in 2020, 2019 and 2018, respectively. The Company had accrued interest of approximately $24, $23 and $27 as of December 31, 2020, 2019 and 2018, respectively. The Company and its subsidiaries file U.S. federal income tax returns as well as income tax returns in many state and foreign jurisdictions. All U.S. federal income tax returns through December 31, 2013 have been audited by the IRS and there are limited matters which the Company plans to appeal for years 2010 through 2013, the settlement of which is not expected to have a material effect on the Company’s results of operations, cash flows or financial condition. With a few exceptions, the Company is no longer subject to U.S. state and local income tax examinations for income tax returns through December 31, 2015. In addition, the Company has subsidiaries in various foreign jurisdictions that have statutes of limitations for tax audits generally ranging from three The Company has made an accounting policy election to treat Global Intangible Low-Taxed Income taxes as a current period expense rather than including these amounts in the measurement of deferred taxes.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share For the years ended December 31, 2020, 2019 and 2018, earnings per share were as follows: 2020 2019 2018 Net income attributable to Colgate-Palmolive Company Shares Per Net income attributable to Colgate-Palmolive Company Shares Per Net income attributable to Colgate-Palmolive Company Shares Per Basic EPS $ 2,695 856.8 $ 3.15 $ 2,367 859.1 $ 2.76 $ 2,400 870.6 $ 2.76 Stock options and restricted stock units 2.5 2.0 2.4 Diluted EPS $ 2,695 859.3 $ 3.14 $ 2,367 861.1 $ 2.75 $ 2,400 873.0 $ 2.75 Basic earnings per common share is computed by dividing net income available for common stockholders by the weighted-average number of shares of common stock outstanding for the period. Diluted earnings per common share is computed using the treasury stock method on the basis of the weighted-average number of shares of common stock plus the dilutive effect of potential common shares outstanding during the period. Dilutive potential common shares include outstanding stock options and restricted stock units. As of December 31, 2020, 2019 and 2018, the average number of stock options that were anti-dilutive and not included in diluted earnings per share calculations were 3,257,310, 19,901,202 and 18,039,961, respectively. As of December 31, 2020, 2019 and 2018, the average number of restricted stock units that were anti-dilutive and not included in diluted earnings per share calculations were 25,381, 4,516 and 9,529, respectively.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies As of December 31, 2020, the Company has various contractual commitments for future multi-year purchases of raw, packaging and other materials totaling approximately $715. 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, data privacy and security, 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 $425 (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 $113. 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. In each of September 2015, February 2017, June 2018, April 2019 and September 2020, the Company lost an administrative appeal and subsequently filed an appeal in Brazilian federal court. Currently, there are five appeals pending in the 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 $50, 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 lawsuit, 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 Matter Certain of the Company’s subsidiaries were historically subject to actions 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 involved other consumer goods companies and/or retail customers. 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 status as of December 31, 2020 of such competition law matters pending against the Company during the year ended December 31, 2020 is set forth below. ▪ 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. The Company appealed the decision to the Greek courts. In April 2019, the Greek courts affirmed the judgment against the Company’s Greek subsidiary, but reduced the fine to $10.5 and dismissed the case against Colgate-Palmolive Company. The Company’s Greek subsidiary and the Greek competition authority have appealed the decision to the Greek Supreme Court. 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 December 31, 2020, there were 137 individual cases pending against the Company in state and federal courts throughout the United States, as compared to 121 cases as of December 31, 2019. During the year ended December 31, 2020, 65 new cases were filed and 49 cases were resolved by voluntary dismissal, settlement or dismissal by the court. The value of the settlements in the years presented was not material, either individually or in the aggregate, to each such period’s results of operations. A significant portion of the Company’s costs incurred in defending and resolving these claims has been, and the Company believes will continue to be, covered by insurance policies issued by several primary, excess and umbrella 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. With the exception of one case where the Company received an adverse jury verdict in the second quarter of 2019 that the Company has appealed, the range of reasonably possible losses in excess of accrued liabilities disclosed above does not include any amount relating to these cases because the amount of any possible losses from such cases currently cannot be reasonably estimated. 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 (the “Court”). The relief sought includes recalculation of benefits, pre- and post-judgment interest and attorneys’ fees. This action was certified as a class action in July 2017. In July 2020, the Court granted in part and denied in part the Company Defendants’ motion for summary judgment and dismissed certain claims on consent of the parties. In August 2020, the Court granted the plaintiffs’ motion for summary judgment on the remaining claims. The Company and the Plan are contesting this action vigorously and, in September 2020, appealed to the United States Court of Appeals for the Second Circuit.

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2020
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. 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. Approximately 70% of the Company’s Net sales are generated from markets outside the U.S., with approximately 45% of the Company’s Net sales coming from emerging markets (which consist of Latin America, Asia (excluding Japan), Africa/Eurasia and Central Europe). Oral, Personal and Home Care sales to Wal-Mart, Inc. and its affiliates represent approximately 12% of the Company’s Net sales in 2020. No other customer represents more than 10% of Net sales. In 2020, Corporate Operating profit included benefits of $16 resulting from the Global Growth and Efficiency Program and a charge of $6 for acquisition-related costs. In 2019, Corporate Operating profit included charges of $125 resulting from the Global Growth and Efficiency Program, a charge of $24 for acquisition-related costs and a benefit of $30 from a value-added tax matter in Brazil. In 2018, Corporate Operating Profit included charges of $152 resulting from the Global Growth and Efficiency Program. 2020 2019 2018 Net sales Oral, Personal and Home Care North America (1) $ 3,741 $ 3,424 $ 3,348 Latin America 3,418 3,606 3,605 Europe 2,747 2,450 2,502 Asia Pacific 2,701 2,707 2,734 Africa/Eurasia 981 981 967 Total Oral, Personal and Home Care 13,588 13,168 13,156 Pet Nutrition (2) 2,883 2,525 2,388 Total Net sales $ 16,471 $ 15,693 $ 15,544 _________ (1) Net sales in the U.S. for Oral, Personal and Home Care were $3,447, $3,166 and $3,091 in 2020, 2019 and 2018, respectively. (2) Net sales in the U.S. for Pet Nutrition were $1,712, $1,441 and $1,304 in 2020, 2019 and 2018, respectively. 2020 2019 2018 Operating profit Oral, Personal and Home Care North America $ 988 $ 982 $ 1,037 Latin America 975 963 995 Europe 652 624 634 Asia Pacific 773 749 777 Africa/Eurasia 206 187 173 Total Oral, Personal and Home Care 3,594 3,505 3,616 Pet Nutrition 793 703 680 Corporate (502) (654) (602) Total Operating profit $ 3,885 $ 3,554 $ 3,694 2020 2019 2018 Capital expenditures Oral, Personal and Home Care North America $ 65 $ 43 $ 53 Latin America 104 90 131 Europe 41 42 39 Asia Pacific 51 40 75 Africa/Eurasia 13 8 11 Total Oral, Personal and Home Care 274 223 309 Pet Nutrition 56 41 35 Corporate 79 71 92 Total Capital expenditures $ 409 $ 335 $ 436 2020 2019 2018 Depreciation and amortization Oral, Personal and Home Care North America $ 101 $ 94 $ 88 Latin America 81 84 82 Europe 94 72 70 Asia Pacific 95 100 103 Africa/Eurasia 9 8 8 Total Oral, Personal and Home Care 380 358 351 Pet Nutrition 58 55 53 Corporate 101 106 107 Total Depreciation and amortization $ 539 $ 519 $ 511 2020 2019 2018 Identifiable assets Oral, Personal and Home Care North America $ 4,132 $ 3,576 $ 3,310 Latin America 2,251 2,384 2,225 Europe 5,386 5,104 2,883 Asia Pacific 2,272 2,155 2,148 Africa/Eurasia 605 590 502 Total Oral, Personal and Home Care 14,646 13,809 11,068 Pet Nutrition 1,210 1,175 1,033 Corporate (1) 64 50 60 Total Identifiable assets (2) $ 15,920 $ 15,034 $ 12,161 ____________ (1) In 2020, Corporate identifiable assets primarily consist of investments in equity securities (95%). In 2019, Corporate identifiable assets primarily consist of derivative instruments (2%) and investments in equity securities (92%). In 2018, Corporate identifiable assets primarily consist of derivative instruments (7%) and investments in equity securities (88%). (2) Long-lived assets in the U.S., primarily property, plant and equipment and goodwill and other intangibles represented approximately one-third of total long-lived assets of $10,911 in 2020, one-third of total long-lived assets of $10,192 in 2019, and one-half of total long-lived assets of $8,259 in 2018.

Leases

Leases	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Leases	Leases The Company adopted ASU No. 2016-02 “Leases (Topic 842)” on January 1, 2019, resulting in the recognition of right-of-use assets of $458 and liabilities of $574. The Company enters into leases for land, office space, warehouses and equipment. A number of the leases include one or more options to renew the lease terms, purchase the leased property or terminate the lease. The exercise of these options is at the Company’s discretion and is therefore recognized on the balance sheet when it is reasonably certain the Company will exercise such options. As the Company’s leases typically do not contain a readily determinable implicit rate, the Company determines the present value of the lease liability using its incremental borrowing rate at the lease commencement date. Substantially all of the Company’s leases are considered operating leases. Finance leases were not material as of December 31, 2020 and 2019. As of December 31, 2020 and 2019, the Company’s right-of use assets and liabilities for operating leases were as follows: 2020 2019 Other assets $ 521 $ 502 Other accruals $ 137 $ 145 Other liabilities 476 491 Total operating lease liabilities $ 613 $ 636 Lease liabilities for operating leases as of December 31, 2020 were as follows: 2021 $ 157 2022 133 2023 89 2024 58 2025 46 Thereafter 232 Total lease commitments $ 715 Less: Interest (102) Present value of lease liabilities $ 613 The components of the Company’s operating lease cost for the twelve months ended December 31, 2020 and 2019 were as follows: 2020 2019 Operating lease cost $ 155 $ 169 Short-term lease cost 3 5 Variable lease cost 20 30 Total lease cost $ 178 $ 204 Short-term lease cost represents the Company’s cost with respect to leases with a duration of 12 months or less and is not reflected on the Company’s Consolidated Balance Sheets. Variable lease costs are comprised of costs, such as the Company’s proportionate share of actual costs for utilities, common area maintenance, property taxes and insurance, that are not included in the lease liability and are recognized in the period in which they are incurred. Supplemental cash flow information related to operating leases for the twelve months ended December 31, 2020 and 2019 was as follows: ▪ Payments against amounts included in the measurement of lease liabilities: $193 and $202, respectively ▪ Lease assets obtained in exchange for lease liabilities: $163 and $232, respectively. As of December 31, 2020 and 2019, the weighted-average remaining lease term for operating leases was 8 and 8 years, respectively, and the weighted-average discount rate for operating leases was 4.2% and 4.1%, respectively.

Supplemental Income Statement I

Supplemental Income Statement Information	12 Months Ended
	Dec. 31, 2020
Supplemental Income Statement Elements [Abstract]
Supplemental Income Statement Information	Supplemental Income Statement Information Other (income) expense, net 2020 2019 2018 Global Growth and Efficiency Program $ (13) $ 57 $ 88 Amortization of intangible assets 88 62 59 Equity income (12) (9) (10) Value-added tax matter in Brazil — (30) — Write-off of certain investments and fixed assets — 51 1 Acquisition-related costs 2 21 — Charges for a change in go-to-market strategy in certain countries — 15 — Other, net 48 29 10 Total Other (income) expense, net $ 113 $ 196 $ 148 Interest (income) expense, net 2020 2019 2018 Interest incurred $ 184 $ 193 $ 195 Interest capitalized (1) (1) (2) Interest income (19) (47) (50) Total Interest (income) expense, net $ 164 $ 145 $ 143 2020 2019 2018 Research and development $ 290 $ 281 $ 277 Advertising $ 1,948 $ 1,694 $ 1,590

Supplemental Balance Sheet Info

Supplemental Balance Sheet Information	12 Months Ended
	Dec. 31, 2020
Balance Sheet Related Disclosures [Abstract]
Supplemental Balance Sheet Information	Supplemental Balance Sheet Information Inventories by major class are as follows at December 31: Inventories 2020 2019 Raw materials and supplies $ 454 $ 305 Work-in-process 45 49 Finished goods 1,256 1,056 Total Inventories, net $ 1,755 $ 1,410 Non-current inventory, net (82) (10) Current Inventories, net $ 1,673 $ 1,400 Inventories valued under LIFO amounted to $439 and $303 at December 31, 2020 and 2019, respectively. The excess of current cost over LIFO cost at the end of each year was $65 and $62, respectively. The liquidations of LIFO inventory quantities had no material effect on income in 2020, 2019 and 2018. Inventory classified as non-current at December 31, 2020 was recorded on the Consolidated Balance Sheets as “Other assets.” Property, plant and equipment, net 2020 2019 Land $ 166 $ 153 Buildings 1,623 1,600 Manufacturing machinery and equipment 5,409 5,309 Other equipment 1,553 1,518 8,751 8,580 Accumulated depreciation (5,035) (4,830) Total Property, plant and equipment, net $ 3,716 $ 3,750 Other accruals 2020 2019 Accrued advertising and coupon redemption $ 728 $ 525 Accrued payroll and employee benefits 401 340 Accrued taxes other than income taxes 116 104 Restructuring accrual 21 85 Pension and other retiree benefits 89 54 Lease Liabilities Due in One Year 137 145 Accrued interest 39 43 Derivatives 93 16 Other 717 605 Total Other accruals $ 2,341 $ 1,917 Other liabilities 2020 2019 Pension and other retiree benefits $ 1,815 $ 1,728 Restructuring accrual 10 15 Long-Term Lease Liabilities 476 491 Other 354 364 Total Other liabilities $ 2,655 $ 2,598

Supplemental Other Comprehensiv

Supplemental Other Comprehensive Income (Loss) Information	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Supplemental Other Comprehensive Income (Loss) Information	Supplemental Other Comprehensive Income (Loss) Information Other comprehensive income (loss) components attributable to Colgate-Palmolive Company before tax and net of tax during the years ended December 31 were as follows: 2020 2019 2018 Pretax Net of Tax Pretax Net of Tax Pretax Net of Tax Cumulative translation adjustments $ (119) $ (30) $ 49 $ 27 $ (233) $ (218) Pension and other benefits: Net actuarial gain (loss), prior (125) (97) (204) (154) (21) (16) Amortization of net actuarial loss, transition and prior service costs (1) 74 57 72 54 69 54 Retirement Plan and other retiree benefit (51) (40) (132) (100) 48 38 Cash flow hedges: Unrealized gains (losses) on cash flow (3) (2) (9) (7) 10 8 Reclassification of (gains) losses into net earnings on cash flow hedges (2) — — (6) (5) 3 2 Gains (losses) on cash flow hedges (3) (2) (15) (12) 13 10 Total Other comprehensive income (loss) $ (173) $ (72) $ (98) $ (85) $ (172) $ (170) _________ (1) These components of Other comprehensive income (loss) are included in the computation of total pension cost. See Note 10, Retirement Plans and Other Retiree Benefits for additional details. (2) These (gains) losses are reclassified into Cost of sales. See Note 7, Fair Value Measurements and Financial Instruments for additional details. There were no tax impacts on Other comprehensive income (loss) attributable to Noncontrolling interests. Accumulated Other Comprehensive Income (Loss)

Quarterly Financial Data (Unaud

Quarterly Financial Data (Unaudited)	12 Months Ended
	Dec. 31, 2020
Quarterly Financial Data [Abstract]
Quarterly Financial Data (Unaudited)	Quarterly Financial Data (Unaudited) Total First Second Third Fourth 2020 Net sales $ 16,471 $ 4,097 $ 3,897 $ 4,153 $ 4,324 Gross profit 10,017 (1) 2,465 (3) 2,369 2,540 2,643 Net income including noncontrolling interests 2,860 (2) 748 (4) 675 745 (5) 692 (6) Net income attributable to Colgate-Palmolive Company 2,695 (2) 715 (4) 635 698 (5) 647 (6) Earnings per common share: Basic 3.15 (2) 0.83 (4) 0.74 0.81 (5) 0.76 (6) Diluted 3.14 (2) 0.83 (4) 0.74 0.81 (5) 0.75 (6) 2019 Net sales $ 15,693 $ 3,884 $ 3,866 $ 3,928 $ 4,015 Gross profit 9,325 (7) 2,287 (9) 2,308 (11) 2,316 (13) 2,414 (15) Net income including noncontrolling interests 2,527 (8) 600 (10) 618 (12) 627 (14) 682 (16) Net income attributable to Colgate-Palmolive Company 2,367 (8) 560 (10) 586 (12) 578 (14) 643 (16) Earnings per common share: Basic 2.76 (8) 0.65 (10) 0.68 (12) 0.67 (14) 0.75 (16) Diluted 2.75 (8) 0.65 (10) 0.68 (12) 0.67 (14) 0.75 (16) ____________ Note: Basic and diluted earnings per share are computed independently for each quarter and the year-to-date period presented. Accordingly, the sum of the quarterly earnings per common share may not necessarily equal the earnings per share for the year-to-date period. (1) Gross profit for the full year of 2020 includes a $4 charge for acquisition-related costs. (2) Net income including noncontrolling interests, Net income attributable to Colgate-Palmolive Company and Earnings per common share for the full year of 2020 include aftertax benefits of $13 resulting from the Global Growth and Efficiency Program, a $4 aftertax charge for acquisition-related costs, a $71 tax benefit related to subsidiary and operating structure initiatives and a $18 aftertax loss on the early extinguishment of debt. (3) Gross profit for the first quarter of 2020 includes a $4 charge for acquisition-related costs. (4) Net income including noncontrolling interests, Net income attributable to Colgate-Palmolive Company and Earnings per common share for the first quarter of 2020 include a $4 aftertax charge for acquisition-related costs and a $71 tax benefit related to subsidiary and operating structure initiatives. (5) Net income including noncontrolling interests, Net income attributable to Colgate-Palmolive Company and Earnings per common share for the third quarter of 2020 include aftertax benefits of $13 resulting from the Global Growth and Efficiency Program. (6) Net income including noncontrolling interests, Net income attributable to Colgate-Palmolive Company and Earnings per common share for the fourth quarter of 2020 include a $18 aftertax loss on the early extinguishment of debt. (7) Gross profit for the full year of 2019 includes $8 of charges resulting from the Global Growth and Efficiency Program and a $3 charge for acquisit ion-related costs. (8) Net income including noncontrolling interests, Net income attributable to Colgate-Palmolive Company and Earnings per common share for the full year of 2019 include $102 of aftertax charges resulting from the Global Growth and Efficiency Program, a $20 aftertax charge for acquisition-related costs, a $20 aftertax benefit related to a value added tax matter in Brazil and a $29 tax benefit related to Swiss income tax reform. (9) Gross profit for the first quarter of 2019 includes $11 of charges resulting from the Global Growth and Efficiency Program. (10) Net income including noncontrolling interests, Net income attributable to Colgate-Palmolive Company and Earnings per common share for the first quarter of 2019 include $22 of aftertax charges resulting from the Global Growth and Efficiency Program. (11) Gross profit for the second quarter of 2019 includes $3 of charges resulting from the Global Growth and Efficiency Program. (12) Net income including noncontrolling interests, Net income attributable to Colgate-Palmolive Company and Earnings per common share for the second quarter of 2019 include $31 of aftertax charges resulting from the Global Growth and Efficiency Program. (13) Gross profit for the third quarter of 2019 includes $1 of charges resulting from the Global Growth and Efficiency Program. (14) Net income including noncontrolling interests, Net income attributable to Colgate-Palmolive Company and Earnings per common share for the third quarter of 2019 include $22 of aftertax charges resulting from the Global Growth and Efficiency Program and a $14 aftertax charge related to U.S. tax reform. (15) Gross profit for the fourth quarter of 2019 includes $1 of benefit resulting from the Global Growth and Efficiency Program and a $3 charge for acquisition-related costs. (16) Net income including noncontrolling interests, Net income attributable to Colgate-Palmolive Company and Earnings per common share for the fourth quarter of 2019 include $27 of aftertax charges resulting from the Global Growth and Efficiency Program, a $6 charge for acquisition-related costs, a $20 aftertax benefit related to a value added tax matter in Brazil and a $29 tax benefit related to Swiss income tax reform.

Schedule II - Valuation and Qua

Schedule II - Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2020
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS	SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS (Dollars in Millions) Additions Balance at Beginning of Period Charged to Costs and Expenses Other Deductions Balance at End of Period Year Ended December 31, 2020 Allowance for doubtful accounts and estimated returns $ 76 $ 16 $ — $ 3 $ 89 Valuation allowance for deferred tax assets $ 59 $ 1 $ — $ 49 $ 11 Year Ended December 31, 2019 Allowance for doubtful accounts and estimated returns $ 82 $ 6 $ — $ 12 $ 76 Valuation allowance for deferred tax assets $ 54 $ 12 $ — $ 7 $ 59 Year Ended December 31, 2018 Allowance for doubtful accounts and estimated returns $ 77 $ 15 $ — $ 10 $ 82 Valuation allowance for deferred tax assets $ 9 $ 45 $ — $ — $ 54

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Principles of Consolidation	Principles of ConsolidationThe Consolidated Financial Statements include the accounts of Colgate-Palmolive Company and its majority-owned or controlled subsidiaries. Intercompany transactions and balances have been eliminated. The Company’s investments in consumer products companies with interests ranging between 20% and 50%, where the Company has significant influence over the investee, are accounted for using the equity method. Net income (loss) from such investments is recorded in Other (income) expense, net in the Consolidated Statements of Income. As of December 31, 2020 and 2019, equity method investments included in Other assets in the Consolidated Balance Sheets were $56 and $50, respectively. Unrelated third parties hold the remaining ownership interests in these investments. Investments with less than a 20% interest are recorded at cost and periodically adjusted based on observable price changes or quoted market prices in active markets, if applicable.
Use of Estimates	Use of Estimates The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America requires management to use judgment and make estimates that affect the reported amounts of assets and liabilities and disclosure of contingent gains and losses at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The level of uncertainty in estimates and assumptions increases with the length of time until the underlying transactions are completed. As such, the most significant uncertainty in the Company’s assumptions and estimates involved in preparing the financial statements includes pension and other retiree benefit cost assumptions, stock-based compensation, asset impairments, uncertain tax positions, tax valuation allowances, legal and other contingency reserves. Additionally, the Company uses available market information and other valuation methodologies in assessing the fair value of financial instruments and retirement plan assets. 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. Actual results could ultimately differ from those estimates.
Revenue Recognition	Revenue Recognition The Company’s revenue contracts represent a single performance obligation to sell its products to trade customers. Sales are recorded at the time control of the products is transferred to trade customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for the products. Control is the ability of trade customers to “direct the use of” and “obtain” the benefit from our products. In evaluating the timing of the transfer of control of products to trade customers, the Company considers several control indicators, including significant risks and rewards of products, the Company’s right to payment and the legal title of the products. Based on the assessment of control indicators, sales are generally recognized when products are delivered to trade customers. Net sales reflect the transaction prices for contracts, which include units shipped at selling list prices reduced by variable consideration. Variable consideration includes expected sales returns and the cost of current and continuing promotional programs. Current promotional programs primarily include product listing allowances and co-operative advertising arrangements. Continuing promotional programs are predominantly consumer coupons and volume-based sales incentive arrangements. The cost of promotional programs is estimated using the expected value method considering all reasonably available information, including the Company’s historical experience and its current expectations, and is reflected in the transaction price when sales are recorded. Adjustments to the cost of promotional programs in subsequent periods are generally not material, as the Company’s promotional programs are typically of short duration, thereby reducing the uncertainty inherent in such estimates. Sales returns are generally accepted at the Company’s discretion and are not material to the Company’s Consolidated Financial Statements. The Company’s contracts with trade customers do not have significant financing components or non-cash consideration and the Company does not have unbilled revenue or significant amounts of prepayments from customers. The Company records Net sales excluding taxes collected on its sales to its trade customers. Shipping and handling activities are accounted for as contract fulfillment costs and classified as Selling, general and administrative expenses.
Shipping and Handling Costs	Shipping and Handling Costs Shipping and handling costs are classified as Selling, general and administrative expenses and were $1,392, $1,275 and $1,255 for the years ended December 31, 2020, 2019 and 2018, respectively.
Marketing Costs	Marketing Costs The Company markets its products through advertising and other promotional activities. Advertising costs are included in Selling, general and administrative expenses and are expensed as incurred. Certain consumer and trade promotional programs, such as consumer coupons, are recorded as a reduction of sales.
Cash and Cash equivalents	Cash and Cash Equivalents The Company considers all highly liquid investments with original maturities of three months or less at the time of purchase to be cash equivalents.
Inventories	Inventories The cost of approximately 75% of inventories is determined using the FIFO method, which is stated at the lower of cost or net realizable value. The cost of all other inventories, in the U.S. and Mexico, is determined using the LIFO method, which is stated at the lower of cost or market. Inventories in excess of one year of forecasted sales are classified in the Consolidated Balance Sheets as non-current “Other assets.”
Property, Plant and Equipment	Property, Plant and Equipment Land, buildings and machinery and equipment are stated at cost. Depreciation is provided, primarily using the straight-line method, over-estimated useful lives ranging from 3 to 15 years for machinery and equipment and up to 40 years for buildings. Depreciation attributable to manufacturing operations is included in Cost of sales. The remaining component of depreciation is included in Selling, general and administrative expenses.
Goodwill and Other Intangibles	Goodwill and Other Intangibles Goodwill and indefinite-life intangible assets, such as the Company’s global brands, are subject to impairment tests at least annually or when events or changes in circumstances indicate that an asset may be impaired. These tests were performed and did not result in an impairment charge. Other intangible assets with finite lives, such as local brands and trademarks, customer relationships and non-compete agreements, are amortized over their estimated useful lives, generally ranging from 5 to 40 years. Amortization expense related to intangible assets is included in Other (income) expense, net, which is included in Operating profit.
Income Taxes	Income Taxes The provision for income taxes is determined using the asset and liability method. Under this method, deferred tax assets and liabilities are recognized based upon the differences between the financial statement and tax bases of assets and liabilities using enacted tax rates that will be in effect at the time such differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. The Company uses a comprehensive model to recognize, measure, present and disclose in its financial statements uncertain tax positions that the Company has taken or expects to take on an income tax return. The Company recognizes interest expense and penalties related to unrecognized tax benefits within Provision for income taxes.
Financial Instruments	Financial Instruments Derivative instruments are recorded as assets and liabilities at estimated fair value based on available market information. The Company’s derivative instruments that qualify for hedge accounting are designated as either fair value hedges, cash flow hedges or net investment hedges. For fair value hedges, changes in the fair value of the derivative, as well as the offsetting changes in the fair value of the hedged item, are recognized in earnings each period. For cash flow hedges, changes in the fair value of the derivative are recorded in Other comprehensive income (loss) and are recognized in earnings when the offsetting effect of the hedged item is also recognized in earnings. For hedges of the net investment in foreign subsidiaries, changes in the fair value of the derivative are recorded in Other comprehensive income (loss) to offset the change in the value of the net investment being hedged. Cash flows related to hedges are classified in the same category as the cash flows from the hedged item in the Consolidated Statements of Cash Flows. The Company may also enter into certain foreign currency and interest rate instruments that economically hedge certain of its risks but do not qualify for hedge accounting. Changes in fair value of these derivative instruments, based on quoted market prices, are recognized in earnings each period. The Company’s derivative instruments and other financial instruments are more fully described in Note 7, Fair Value Measurements and Financial Instruments along with the related fair value measurement considerations.
Stock-Based Compensation	Stock-Based Compensation The Company recognizes the cost of employee services received in exchange for awards of equity instruments, such as stock options and restricted stock units (both performance-based and time-vested), based on the fair value of those awards at the date of grant over the requisite service period. The Company uses the Black-Scholes-Merton ( “ Black-Scholes ” ) option pricing model to estimate the fair value of stock option awards. In addition to performance conditions, performance-based restricted stock units also include a total shareholder return modifier. Because the total shareholder return modifier is considered a market condition, the Company uses a Monte-Carlo simulation model to determine the fair value of performance-based restricted stock units. The fair value of time-vested restricted stock units is determined based on the closing market price of the Company’s stock at the date of grant. Stock-based compensation plans, related expenses and assumptions used in the Black-Scholes option pricing model are more fully described in Note 8, Capital Stock and Stock-Based Compensation Plans.
Currency Translation	Currency Translation The assets and liabilities of foreign subsidiaries, other than those operating in highly inflationary environments, are translated into U.S. dollars at year-end exchange rates with resulting translation gains and losses accumulated in a separate component of shareholders’ equity. Income and expense items are translated into U.S. dollars at average rates of exchange prevailing during the year.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In January 2021, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2021-1, “Reference Rate Reform (Topic 848): Scope” This ASU clarifies that certain optional expedients and exceptions in Topic 848 apply to derivatives that are affected by the discounting transition due to reference rate reform. This guidance was effective upon issuance for the Company and is not expected to have a material impact on the Company’s Consolidated Financial Statements. In October 2020, the FASB issued ASU No. 2020-10, “Codification Improvements.” This ASU improves the consistency of the codification topics by including all disclosure guidance in the appropriate disclosure section and also clarifies the application of various provisions in the codification. This guidance was effective for the Company beginning on January 1, 2021 and is not expected to have a material impact on the Company’s Consolidated Financial Statements. In March 2020, the FASB issued ASU No. 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting.” The ASU provides optional expedients and exceptions for applying generally accepted accounting principles (“GAAP”) to contracts, hedging relationships and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. This guidance was effective upon issuance of this ASU for contract modifications and hedging relationships on a prospective basis and is not expected to have a material impact on the Company’s Consolidated Financial Statements. In March 2020, the FASB issued ASU No. 2020-03, “Codification to Financial Instruments.” This ASU improves and clarifies various financial instruments topics, including the current expected credit losses (“CECL”) standard issued in 2016. The ASU addresses seven different issues that describe the areas of improvement and the related amendments to GAAP, intended to make the standards easier to understand and apply by eliminating inconsistencies and providing clarifications. The amendments related to Issue 1, Issue 2, Issue 4 and Issue 5 were effective upon issuance of this update. The amendments related to Issue 3, Issue 6 and Issue 7 were effective for the Company beginning on January 1, 2020. The guidance did not have a material impact on the Company’s Consolidated Financial Statements. In January 2020, the FASB issued ASU No. 2020-01, “Investments-Equity Securities (Topic 321), Investments-Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815)-Clarifying the Interactions between Topic 321, Topic 323, and Topic 815.” The guidance provides clarification of the interaction of rules for equity securities, the equity method of accounting and forward contracts and purchase options on certain types of securities. This guidance was effective for the Company beginning on January 1, 2021. This guidance is not expected to have a material impact on the Company’s Consolidated Financial Statements. In December 2019, the FASB issued ASU No. 2019-12, “Income taxes (Topic 740): Simplifying the Accounting for Income Taxes.” This ASU simplifies the accounting for income taxes by removing certain exceptions to the general principles in ASC 740 and also clarifies and amends existing guidance to improve consistent application. This guidance was effective for the Company beginning on January 1, 2021. This guidance is not expected to have a material impact on the Company’s Consolidated Financial Statements. In November 2019, the FASB issued ASU No. 2019-11, “Codification Improvements to Topic 326, Financial Instruments - Credit Losses.” This ASU clarifies and addresses certain items related to amendments in ASU 2016-13. This guidance was effective for the Company beginning on January 1, 2020 and did not have a material impact on the Company’s Consolidated Financial Statements. In April 2019, the FASB issued ASU No. 2019-04, “Codification Improvements to Financial Instruments-Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Financial Instruments (Topic 825).” This ASU clarifies three topics related to financial instruments accounting. This guidance was effective for the Company beginning on January 1, 2020 and did not have a material impact on the Company’s Consolidated Financial Statements. In August 2018, the FASB issued ASU No. 2018-13, “Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement.” This guidance removes certain disclosure requirements related to the fair value hierarchy, modifies existing disclosure requirements related to measurement uncertainty and adds new disclosure requirements. The new disclosure requirements include disclosing the changes in unrealized gains and losses for the period included in other comprehensive income for recurring Level 3 fair value measurements held at the end of the reporting period and the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. This guidance was effective for the Company beginning on January 1, 2020 and did not have a material impact on the Company’s Consolidated Financial Statements. In January 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 implied fair value, essentially eliminating step two from the goodwill impairment test. The 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 was effective for the Company on a prospective basis beginning on January 1, 2020 and did not have a material impact on the Company’s Consolidated Financial Statements. In June 2016, the FASB issued ASU No. 2016-13, “Financial Instruments-Credit Losses (Topic 326).” This ASU introduces the current expected credit loss (CECL) model, which requires an entity to measure credit losses for certain financial instruments and financial assets, including trade receivables. Under this update, on initial recognition and at each reporting period, an entity is required to recognize an allowance that reflects the entity’s current estimate of credit losses expected to be incurred over the life of the financial instrument. The Company adopted the new standard, which primarily impacts the Company’s trade receivables and related methodology for assessing the collectability of its customer accounts, on January 1, 2020, on a “modified retrospective” basis. The adoption of this ASU did not have a material impact on the Company’s Consolidated Financial Statements.
Reclassifications	ReclassificationsCertain prior year amounts have been reclassified to conform to the current year presentation.

Nature of Operations (Tables)

Nature of Operations (Tables)	12 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Percentage of worldwide sales	The Company’s principal classes of products accounted for the following percentages of worldwide Net sales for the past three years: 2020 2019 2018 Oral Care 44 % 46 % 47 % Personal Care 21 % 20 % 20 % Home Care 18 % 18 % 18 % Pet Nutrition 17 % 16 % 15 % Total 100 % 100 % 100 %

Acquisitions (Tables)

Acquisitions (Tables)	12 Months Ended
	Dec. 31, 2020
Business Combinations [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The total purchase price consideration of $351 has been allocated to the net assets acquired based on their respective estimated fair values as follows: Receivables $ 11 Inventories 13 Other assets and liabilities, net (4) Other intangible assets 160 Goodwill 171 Fair value of net assets acquired $ 351 The total purchase price consideration of $1,712 has been allocated to the net assets acquired based on their respective estimated fair values as follows: Cash $ 30 Receivables 53 Inventories 70 Other current assets 18 Other intangible assets 1,051 Goodwill 923 Other current liabilities (67) Deferred income taxes (276) Noncontrolling interests (90) Fair value of net assets acquired $ 1,712

Restructuring and Related Imp_2

Restructuring and Related Implementation Charges (Tables)	12 Months Ended
	Dec. 31, 2020
Restructuring and Related Activities [Abstract]
Schedule of Restructuring and Related Costs	For the years ended December 31, 2019 and 2018, restructuring and related implementation charges are reflected in the Consolidated Statements of Income as follows: 2019 2018 Cost of sales $ 8 $ 31 Selling, general and administrative expenses 60 33 Other (income) expense, net 57 88 Non-service related postretirement costs 7 9 Total Global Growth and Efficiency Program charges, pretax $ 132 $ 161 Total Global Growth and Efficiency Program charges, aftertax $ 102 $ 125
Schedule of Percent of Total Restructuring Charges Related To Segment for the period	Total charges incurred for the Global Growth and Efficiency Program related to initiatives undertaken by the following reportable operating segments: Total Program 2019 2018 Charges North America 4 % 18 % 17 % Latin America 12 % 10 % 5 % Europe 4 % (2) % 19 % Asia Pacific 6 % 13 % 4 % Africa/Eurasia (1) % 5 % 5 % Hill ’ s Pet Nutrition 2 % 19 % 8 % Corporate 73 % 37 % 42 % Total 100 % 100 % 100 %
Schedule of Restructuring and Related Costs Incurred to Date	Over the course of the Global Growth and Efficiency Program, the Company incurred total pretax charges of $1,854 ($1,380 aftertax) in connection with the implementation of various projects as follows: Total Program Charges as of December 31, 2019 Employee-Related Costs $ 706 Incremental Depreciation 128 Asset Impairments 58 Other 962 Total $ 1,854
Schedule of Restructuring Reserve by Type of Cost	The following table summarizes the activity for the restructuring and related implementation charges for the years ended December 31, 2019 and 2018 and the related accruals: Employee-Related Costs Incremental Asset Impairments Other Total Balance at December 31, 2017 $ 127 $ — $ — $ 107 $ 234 Charges 53 2 16 90 161 Cash payments (107) — — (60) (167) Charges against assets (9) (2) (16) — (27) Foreign exchange (4) — — — (4) Other — — — 5 5 Balance at December 31, 2018 $ 60 $ — $ — $ 142 $ 202 Charges 25 36 6 65 132 Cash payments (55) — — (58) (113) Charges against assets (7) (36) (6) (27) (76) Foreign exchange 3 — — — 3 Other — — — (48) (48) Balance at December 31, 2019 $ 26 $ — $ — $ 74 $ 100

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The net carrying value of Goodwill as of December 31, 2020 and 2019 by segment was as follows: 2020 2019 Oral, Personal and Home Care North America $ 912 $ 737 Latin America 171 212 Europe 2,415 2,234 Asia Pacific 190 186 Africa/Eurasia 121 124 Total Oral, Personal and Home Care 3,809 3,493 Pet Nutrition 15 15 Total Goodwill $ 3,824 $ 3,508
Schedule Of Finite And Indefinite Lived Intangible Assets By Major Class	Other intangible assets as of December 31, 2020 and 2019 were comprised of the following: 2020 2019 Gross Carrying Amount Accumulated Amortization Net Gross Carrying Amount Accumulated Amortization Net Trademarks - finite life $ 902 $ (422) $ 480 $ 771 $ (381) $ 390 Other finite life intangible assets 786 (237) 549 699 (169) 530 Indefinite life intangible assets 1,865 — 1,865 1,747 — 1,747 Total Other intangible assets $ 3,553 $ (659) $ 2,894 $ 3,217 $ (550) $ 2,667

Long-Term Debt and Credit Fac_2

Long-Term Debt and Credit Facilities (Tables)	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Long-term debt consisted of the following at December 31: Weighted Average Interest Rate Maturities 2020 2019 Notes 1.9% 2021 - 2078 $ 6,170 $ 6,988 Commercial paper (0.3)% 2021 1,139 579 Finance Lease Obligations Various Various 34 20 7,343 7,587 Less: Current portion of long-term debt (9) (254) Total $ 7,334 $ 7,333
Schedule of Maturities of Long-term Debt	Excluding such obligations, scheduled maturities of long-term debt and finance leases outstanding as of December 31, 2020, were as follows: Years Ended December 31, 2021 $ 631 2022 413 2023 896 2024 498 2025 130 Thereafter 3,636

Fair Value Measurements and F_2

Fair Value Measurements and Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [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 as of December 31, 2020 and December 31, 2019: Assets Liabilities Account Fair Value Account Fair Value Designated derivative instruments December 31, 2020 December 31, 2019 December 31, 2020 December 31, 2019 Interest rate swap contracts Other assets 14 4 Other liabilities — — Forward-starting interest rate swaps Other assets 5 — Other liabilities — — Foreign currency contracts Other current assets 7 6 Other accruals 93 15 Foreign currency contracts Other assets — — Other liabilities — 14 Commodity contracts Other current assets 3 — Other accruals — — Total designated $ 29 $ 10 $ 93 $ 29 Other financial instruments Marketable securities Other current assets 37 23 Total other financial instruments $ 37 $ 23
Activity related to fair value hedges	The following amounts were recorded on the Consolidated Balance Sheet related to cumulative basis adjustment for fair value hedges as of: December 31, 2020 December 31, 2019 Long-term debt: Carrying amount of hedged item $ 413 $ 403 Cumulative hedging adjustment included in the carrying amount $ 14 $ 4
Schedule of Notional Amounts of Outstanding Derivative Positions	The following tables present the notional values as of: December 31, 2020 Foreign Foreign Currency Debt Interest Rate Swaps Forward-Starting Interest Rate Swaps Commodity Contracts Fair Value Hedges $ 589 $ — $ 400 $ — $ — $ 989 Cash Flow Hedges 854 — — 300 17 1,171 Net Investment Hedges 528 4,523 — — — 5,051 December 31, 2019 Foreign Foreign Currency Debt Interest Rate Swaps Forward-Starting Interest Rate Swaps Commodity Contracts Fair Value Hedges $ 388 $ — $ 400 $ — $ — $ 788 Cash Flow Hedges 761 — — — 20 781 Net Investment Hedges 478 3,856 — — — 4,334
Derivative Instruments, Gain (Loss)	The following table presents the location and amount of gains (losses) on hedges recognized on the Company’s Consolidated Statements of Income: Twelve Months Ended December 31, 2020 2019 Cost of sales Selling, general and administrative expenses Interest (income) expense, net Cost of sales Selling, general and administrative expenses Interest (income) expense, net Gain (loss) on hedges recognized in income: Interest rate swaps designated as fair value hedges: Derivative instrument $ — $ — $ (10) $ — $ — $ (11) Hedged items — — 10 — — 11 Foreign currency contracts designated as fair value hedges: Derivative instrument — 29 — — 10 — Hedged items — (29) — — (10) — Foreign currency contracts designated as cash flow hedges: Amount reclassified from OCI 1 — — 5 — — Commodity contracts designated as cash flow hedges: Amount reclassified from OCI (1) — — 1 — — Total gain (loss) on hedges recognized in income $ — $ — $ — $ 6 $ — $ —
Schedule Of Cash Flow And Net Investment Hedges Included In Accumulated Other Comprehensive Income (Loss)	The following table presents the location and amount of unrealized gains (losses) on hedges included in OCI: Twelve Months Ended December 31, 2020 2019 Foreign currency contracts designated as cash flow hedges: Gain (loss) recognized in OCI $ (11) $ (9) Forward-starting interest rate swaps designated as cash flow hedges: Gain (loss) recognized in OCI 5 — Commodity contracts designated as cash flow hedges: Gain (loss) recognized in OCI 3 — Foreign currency contracts designated as net investment hedges: Gain (loss) on instruments (52) 4 Gain (loss) on hedged items 52 (4) Foreign currency debt designated as net investment hedges: Gain (loss) on instruments (356) 12 Gain (loss) on hedged items 356 (12) Total unrealized gain (loss) on hedges recognized in OCI $ (3) $ (9)

Capital Stock and Stock-Based_2

Capital Stock and Stock-Based Compensation Plans (Tables)	12 Months Ended
	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Schedule Of Common And Treasury Stock Activity	A summary of common stock and treasury stock activity for the three years ended December 31 is as follows: Common Stock Outstanding Treasury Stock Balance, January 1, 2018 874,701,118 591,005,242 Common stock acquired (18,786,897) 18,786,897 Shares issued for stock options 6,040,920 (6,040,920) Shares issued for restricted stock units and other 957,651 (957,651) Balance, December 31, 2018 862,912,792 602,793,568 Common stock acquired (17,219,642) 17,219,642 Shares issued for stock options 8,145,777 (8,145,777) Shares issued for restricted stock units and other 862,852 (862,852) Balance, December 31, 2019 854,701,779 611,004,581 Common stock acquired (18,701,843) 18,701,843 Shares issued for stock options 13,018,354 (13,018,354) Shares issued for restricted stock units and other 875,311 (875,311) Balance, December 31, 2020 849,893,601 615,812,759
Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions	Fair value is estimated using the Black-Scholes option pricing model with the assumptions summarized in the following table: 2020 2019 2018 Expected term of options 6 years 6 years 4.5 years Expected volatility rate 21.8 % 19.2 % 17.7 % Risk-free interest rate 0.5 % 1.5 % 2.8 % Expected dividend yield 2.3 % 2.3 % 2.5 %
Schedule of Share-based Compensation, Performance Restricted Stock and Time-based Restricted Stock Units Activity	A summary of performance-based restricted stock unit activity for the year ended December 31, 2020 is presented below: Shares Weighted Average Grant Date Fair Value Per Award Performance-based restricted stock units as of January 1, 2020 346 $ 67 Activity: Granted 557 76 Forfeited (38) 69 Performance-based restricted stock units as of December 31, 2020 865 $ 73 A summary of restricted stock unit activity during 2020 is presented below: Shares Weighted Average Grant Date Fair Value Per Award Restricted stock units as of January 1, 2020 2,203 $ 71 Activity: Granted 727 77 Vested (1,130) 74 Forfeited (63) 71 Restricted stock units as of December 31, 2020 1,737 $ 73
Schedule of Share-based Compensation, Stock Options, Activity	A summary of stock option activity during 2020 is presented below: Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life Intrinsic Value of Unexercised Options outstanding, January 1, 2020 36,185 $ 69 Granted 4,976 76 Exercised (13,019) 67 Forfeited or expired (601) 72 Options outstanding, December 31, 2020 27,541 72 4 $ 386 Options exercisable, December 31, 2020 18,084 $ 70 3 $ 274

Retirement Plans and Other Re_2

Retirement Plans and Other Retiree Benefits (Tables)	12 Months Ended
	Dec. 31, 2020
Retirement Benefits [Abstract]
Schedule of Allocation of Plan Assets	The target asset allocation for the Company’s defined benefit plans is as follows: United States International Asset Category Equity securities 21 % 38 % Fixed income securities 74 % 46 % Real estate and other investments 5 % 16 % Total 100 % 100 % At December 31, 2020, the allocation of the Company’s plan assets and the level of valuation input, as applicable, for each major asset category were as follows: Level of Valuation Pension Plans United States International Other Retiree Cash and cash equivalents Level 1 $ 50 $ 12 $ — U.S. common stocks Level 1 — 1 — International common stocks Level 1 — 8 — Pooled funds (1) Level 1 65 117 — Fixed income securities (2) Level 2 1,117 59 2 Guaranteed investment contracts (3) Level 2 1 55 — 1,233 252 2 Investments valued using NAV per share (4) Domestic, developed and emerging markets equity funds 456 183 1 Fixed income funds (5) 136 225 — Hedge funds (6) — 6 — Multi-asset funds (7) 77 2 — Real estate funds (8) 34 30 — 703 446 1 Other assets and liabilities, net (9) (15) — — Total Investments $ 1,921 $ 698 $ 3 At December 31, 2019, the allocation of the Company’s plan assets and the level of valuation input, as applicable, for each major asset category were as follows: Level of Valuation Pension Plans United States International Other Retiree Cash and cash equivalents Level 1 $ 41 $ 15 $ 1 U.S. common stocks Level 1 49 3 1 International common stocks Level 1 — 3 — Pooled funds (1) Level 1 29 104 2 Fixed income securities (2) Level 2 1,067 14 20 Guaranteed investment contracts (3) Level 2 1 42 — 1,187 181 24 Investments valued using NAV per share (4) Domestic, developed and emerging markets equity funds 328 165 7 Fixed income funds (5) 177 196 3 Hedge funds (6) 3 17 — Multi-asset funds (7) 155 2 2 Real estate funds (8) 41 25 1 704 405 13 Other assets and liabilities, net (9) (85) — — Total Investments $ 1,806 $ 586 $ 37 _______ (1) Pooled funds primarily invest in U.S. and foreign equity securities, debt and money market securities. (2) The fixed income securities are traded over-the-counter and certain of these securities lack daily pricing or liquidity and as such are classified as Level 2. As of both December 31, 2020 and 2019, approximately 50% of the U.S. pension plan fixed income portfolio was invested in U.S. treasury or agency securities, with the remainder invested in other government bonds and corporate bonds. (3) The guaranteed investment contracts (“GICs”) represent contracts with insurance companies measured at the cash surrender value of each contract. The Level 2 valuation reflects that the cash surrender value is based principally on a referenced pool of investment funds with active redemption. (4) Investments that are measured at fair value using net asset value (“NAV”) per share as a practical expedient have not been classified in the fair value hierarchy. The NAV is based on the value of the underlying investments owned, minus its liabilities, divided by the number of shares outstanding. There are no unfunded commitments related to these investments. Redemption notice period primarily ranges from 0-3 months and redemption frequency windows range from daily to quarterly. (5) Fixed income funds primarily invest in U.S. government and investment grade corporate bonds. (6) Consists of investments in underlying hedge fund strategies that are primarily implemented through the use of long and short equity and fixed income securities and derivative instruments such as futures and options. (7) Multi-asset funds primarily invest across a variety of asset classes, including global stocks and bonds, as well as alternative strategies. (8) Real estate is valued using the NAV per unit of funds that are invested in real estate property. The investment value of the real estate property is determined quarterly using independent market appraisals as determined by the investment manager.
Defined benefit plans disclosures	The Company uses a December 31 measurement date for its defined benefit and other retiree benefit plans. Summarized information for the Company’s defined benefit and other retiree benefit plans is as follows: Pension Plans Other Retiree Benefit Plans 2020 2019 2020 2019 2020 2019 United States International Change in Benefit Obligations Benefit obligations at beginning of year $ 2,272 $ 2,147 $ 876 $ 787 $ 1,050 $ 876 Service cost 1 1 17 14 20 15 Interest cost 74 90 21 22 37 41 Participants’ contributions — — 5 2 — — Acquisitions/plan amendments — — 30 3 — — Actuarial loss (gain) 171 181 65 82 61 166 Foreign exchange impact — — 46 8 (9) 1 Termination benefits 3 7 — — — — Curtailments and settlements (3) — (7) (9) — — Benefit payments (155) (154) (40) (35) (47) (49) Other — — — 2 — — Benefit obligations at end of year $ 2,363 $ 2,272 $ 1,013 $ 876 $ 1,112 $ 1,050 Change in Plan Assets Fair value of plan assets at beginning of year $ 1,806 $ 1,568 $ 586 $ 510 $ 37 $ 54 Actual return on plan assets 243 262 59 76 2 8 Company contributions 30 130 36 30 11 24 Participants’ contributions — — 5 2 — — Foreign exchange impact — — 26 12 — — Settlements and acquisitions (3) — 26 (9) — — Benefit payments (155) (154) (40) (35) (47) (49) Other — — — — — — Fair value of plan assets at end of year $ 1,921 $ 1,806 $ 698 $ 586 $ 3 $ 37 Funded Status Benefit obligations at end of year $ 2,363 $ 2,272 $ 1,013 $ 876 $ 1,112 $ 1,050 Fair value of plan assets at end of year 1,921 1,806 698 586 3 37 Net amount recognized $ (442) $ (466) $ (315) $ (290) $ (1,109) $ (1,013) Amounts Recognized in Balance Sheet Noncurrent assets $ 20 $ — $ 18 $ 13 $ — $ — Current liabilities (30) (28) (14) (13) (45) (13) Noncurrent liabilities (432) (438) (319) (290) (1,064) (1,000) Net amount recognized $ (442) $ (466) $ (315) $ (290) $ (1,109) $ (1,013) Amounts Recognized in Accumulated Other Comprehensive Income (Loss) Actuarial loss $ 902 $ 910 $ 255 $ 238 $ 429 $ 388 Transition/prior service cost 1 1 7 7 — (1) $ 903 $ 911 $ 262 $ 245 $ 429 $ 387 Accumulated benefit obligation $ 2,325 $ 2,236 $ 946 $ 816 $ — $ — Pension Plans Other Retiree Benefit Plans 2020 2019 2020 2019 2020 2019 United States International Weighted-Average Assumptions Used to Determine Benefit Obligations Discount rate 2.65 % 3.40 % 1.61 % 2.06 % 2.88 % 3.56 % Expected long-term rate of return on plan assets 5.70 % 6.30 % 2.93 % 3.38 % 5.70 % 6.30 % Long-term rate of compensation increase 3.50 % 3.50 % 2.62 % 2.83 % 3.50 % 3.50 % ESOP growth rate — % — % — % — % 10.00 % 10.00 % Medical cost trend rate of increase — % — % — % — % 6.00 % 6.00 % Interest Crediting Rate 2.48 % 3.21 % 0.83 % 0.85 % — % — %
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets	Pension plans with projected benefit obligations in excess of plan assets and plans with accumulated benefit obligations in excess of plan assets as of December 31 consisted of the following: 2020 2019 Benefit Obligation Exceeds Fair Value of Plan Assets Projected benefit obligation $ 1,092 $ 2,862 Fair value of plan assets 299 2,094 Accumulated benefit obligation 882 875 Fair value of plan assets 134 166 Other Retiree Benefit plans with accumulated postretirement benefit obligation in excess of plan assets as of December 31 consisted of the following: 2020 2019 Benefit Obligation Exceeds Fair Value of Plan Assets Accumulated postretirement benefit obligation $ 1,112 $ 958 Fair value of plan assets 3 37
Schedule of Net Benefit Costs	Summarized information regarding the net periodic benefit costs for the Company’s defined benefit and other retiree benefit plans is as follows: Pension Plans Other Retiree Benefit Plans 2020 2019 2018 2020 2019 2018 2020 2019 2018 United States International Components of Net Periodic Benefit Cost Service cost $ 1 $ 1 $ 1 $ 17 $ 14 $ 14 $ 20 $ 15 $ 16 Interest cost 74 90 86 21 22 21 37 41 38 Expected return on plan assets (111) (103) (115) (22) (19) (21) (2) (3) (2) Amortization of transition and prior service costs (credits) — — — — 1 — — — — Amortization of actuarial loss 46 51 47 9 9 8 18 11 14 Net periodic benefit cost $ 10 $ 39 $ 19 $ 25 $ 27 $ 22 $ 73 $ 64 $ 66 Other postretirement charges 4 7 9 — 1 2 — — — Total pension cost $ 14 $ 46 $ 28 $ 25 $ 28 $ 24 $ 73 $ 64 $ 66 Weighted-Average Assumptions Used to Determine Net Periodic Benefit Cost Discount rate 3.40 % 4.38 % 3.73 % 2.06 % 2.80 % 2.53 % 3.56 % 4.43 % 3.80 % Expected long-term rate of return on plan assets 6.30 % 6.60 % 6.60 % 3.38 % 4.06 % 4.04 % 6.30 % 6.60 % 6.60 % Long-term rate of compensation increase 3.50 % 3.50 % 3.50 % 2.83 % 2.86 % 2.79 % — % — % — % ESOP growth rate — % — % — % — % — % — % 10.00 % 10.00 % 10.00 % Medical cost trend rate of increase — % — % — % — % — % — % 6.00 % 6.00 % 6.00 % Interest Crediting Rate 3.21 % 4.26 % 3.73 % 0.85 % 0.85 % 0.85 % — % — % — %
Schedule of Expected Benefit Payments	Total benefit payments expected to be paid to participants in both funded and unfunded plans are estimated as follows: Pension Plans Years Ended December 31, United States International Other Retiree Benefit Plans Total 2021 $ 154 $ 42 $ 49 $ 245 2022 156 41 49 246 2023 157 42 50 249 2024 156 46 51 253 2025 155 45 52 252 2026-2030 741 244 269 1,254

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Components of income before income taxes	The components of Income before income taxes are as follows for the years ended December 31: 2020 2019 2018 United States $ 1,317 $ 1,050 $ 1,175 International 2,330 2,251 2,289 Total Income before income taxes $ 3,647 $ 3,301 $ 3,464
Provision for income taxes	The Provision for income taxes consists of the following for the years ended December 31: 2020 2019 2018 United States $ 259 $ 180 $ 213 International 528 594 693 Total Provision for income taxes $ 787 $ 774 $ 906
Schedule of components of deferred income tax benefit	Temporary differences between accounting for financial statement purposes and accounting for tax purposes result in the current provision for taxes being higher (lower) than the total provision for income taxes as follows: 2020 2019 2018 Goodwill and intangible assets $ 1 $ 34 $ 2 Property, plant and equipment 12 12 (15) Pension and other retiree benefits 10 (13) (7) Stock-based compensation (7) (1) 9 Right-of-use assets/lease liabilities (1) — — Tax credits and tax loss carryforwards (1) 3 (4) Deferred withholding tax 111 (21) (100) Other, net 18 (33) 62 Total deferred tax benefit (provision) $ 143 $ (19) $ (53)
Effective tax rate reconciliation	The difference between the statutory U.S. federal income tax rate and the Company’s global effective tax rate as reflected in the Consolidated Statements of Income is as follows: Percentage of Income before income taxes 2020 2019 2018 Tax at United States statutory rate 21.0 % 21.0 % 21.0 % State income taxes, net of federal benefit 1.0 0.6 1.0 Earnings taxed at other than United States statutory rate 3.3 4.6 5.6 Charge for U.S. tax reform (1) — — 2.3 Foreign tax credit carryback (2) — — (1.7) Benefit for foreign tax matters (3) (2.0) (0.9) (0.4) Foreign-derived intangible income benefit (1.6) (1.3) (1.1) Other, net (0.1) (0.6) (0.5) Effective tax rate 21.6 % 23.4 % 26.2 % _________ (1) On December 22, 2017, the Tax Cuts and Jobs Act (the “TCJA”) was enacted, which, among other things, lowered the U.S. corporate income tax rate to 21% from 35% and established a modified territorial system requiring a mandatory deemed repatriation tax on undistributed earnings of foreign subsidiaries. Beginning in 2018, the TCJA also requires a minimum tax on certain earnings generated by foreign subsidiaries while providing for tax-free repatriation of such earnings through a 100% dividends-received deduction. The Company’s effective income tax rate in 2017 included a provisional charge of $275, recorded in the fourth quarter of 2017, based on its initial analysis of the TCJA using information and estimates available as of February 15, 2018, the date on which the Company filed its Annual Report on Form 10-K for the year ended December 31, 2017. During 2018, the Company finalized its assessment of the impact of the TCJA and recognized an additional tax expense of $80 reflecting the impact of transition tax guidance issued by the U.S. Treasury and the update of certain estimates and calculations based on information available through the end of 2018. Any further guidance issued after December 31, 2018 may have an impact to the Company’s Provision for income tax in the period such guidance is effective. (2) In 2018, the Company generated excess foreign taxes associated with its foreign branch operations which are being carried back to 2017. This item is not expected to be recurring.
Components of deferred tax assets (liabilities)	The components of deferred tax assets (liabilities) are as follows at December 31: 2020 2019 Deferred tax liabilities: Goodwill and intangible assets $ (603) $ (598) Property, plant and equipment (281) (303) Right-of-use assets (131) (135) Deferred withholding tax (95) (207) Other (52) (46) Total deferred tax liabilities (1,162) (1,289) Deferred tax assets: Pension and other retiree benefits 404 381 Tax credits and tax loss carryforwards 42 93 Lease liabilities 144 152 Accrued liabilities 250 221 Stock-based compensation 73 88 Other 125 83 Total deferred tax assets 1,038 1,018 Valuation Allowance $ (11) $ (59) Net deferred tax assets $ 1,027 $ 959 Net deferred income taxes $ (135) $ (330) 2020 2019 Deferred taxes included within: Assets: Deferred income taxes $ 291 $ 177 Liabilities: Deferred income taxes (426) (507) Net deferred income taxes $ (135) $ (330)
Unrecognized tax benefits activity	Unrecognized tax benefits activity for the years ended December 31, 2020, 2019 and 2018 is summarized below: 2020 2019 2018 Unrecognized tax benefits: Balance, January 1 $ 173 $ 190 $ 214 Increases as a result of tax positions taken during the current year 18 14 14 Decreases of tax positions taken during prior years (5) (21) (37) Increases of tax positions taken during prior years 57 20 9 Decreases as a result of settlements with taxing authorities and the expiration of statutes of limitations (19) (30) (6) Effect of foreign currency rate movements 3 — (4) Balance, December 31 $ 227 $ 173 $ 190

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	For the years ended December 31, 2020, 2019 and 2018, earnings per share were as follows: 2020 2019 2018 Net income attributable to Colgate-Palmolive Company Shares Per Net income attributable to Colgate-Palmolive Company Shares Per Net income attributable to Colgate-Palmolive Company Shares Per Basic EPS $ 2,695 856.8 $ 3.15 $ 2,367 859.1 $ 2.76 $ 2,400 870.6 $ 2.76 Stock options and restricted stock units 2.5 2.0 2.4 Diluted EPS $ 2,695 859.3 $ 3.14 $ 2,367 861.1 $ 2.75 $ 2,400 873.0 $ 2.75

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2020
Segment Reporting [Abstract]
Net Sales and Operating Profit by Segment	2020 2019 2018 Net sales Oral, Personal and Home Care North America (1) $ 3,741 $ 3,424 $ 3,348 Latin America 3,418 3,606 3,605 Europe 2,747 2,450 2,502 Asia Pacific 2,701 2,707 2,734 Africa/Eurasia 981 981 967 Total Oral, Personal and Home Care 13,588 13,168 13,156 Pet Nutrition (2) 2,883 2,525 2,388 Total Net sales $ 16,471 $ 15,693 $ 15,544 _________ (1) Net sales in the U.S. for Oral, Personal and Home Care were $3,447, $3,166 and $3,091 in 2020, 2019 and 2018, respectively. (2) Net sales in the U.S. for Pet Nutrition were $1,712, $1,441 and $1,304 in 2020, 2019 and 2018, respectively. 2020 2019 2018 Operating profit Oral, Personal and Home Care North America $ 988 $ 982 $ 1,037 Latin America 975 963 995 Europe 652 624 634 Asia Pacific 773 749 777 Africa/Eurasia 206 187 173 Total Oral, Personal and Home Care 3,594 3,505 3,616 Pet Nutrition 793 703 680 Corporate (502) (654) (602) Total Operating profit $ 3,885 $ 3,554 $ 3,694 2020 2019 2018 Capital expenditures Oral, Personal and Home Care North America $ 65 $ 43 $ 53 Latin America 104 90 131 Europe 41 42 39 Asia Pacific 51 40 75 Africa/Eurasia 13 8 11 Total Oral, Personal and Home Care 274 223 309 Pet Nutrition 56 41 35 Corporate 79 71 92 Total Capital expenditures $ 409 $ 335 $ 436 2020 2019 2018 Depreciation and amortization Oral, Personal and Home Care North America $ 101 $ 94 $ 88 Latin America 81 84 82 Europe 94 72 70 Asia Pacific 95 100 103 Africa/Eurasia 9 8 8 Total Oral, Personal and Home Care 380 358 351 Pet Nutrition 58 55 53 Corporate 101 106 107 Total Depreciation and amortization $ 539 $ 519 $ 511 2020 2019 2018 Identifiable assets Oral, Personal and Home Care North America $ 4,132 $ 3,576 $ 3,310 Latin America 2,251 2,384 2,225 Europe 5,386 5,104 2,883 Asia Pacific 2,272 2,155 2,148 Africa/Eurasia 605 590 502 Total Oral, Personal and Home Care 14,646 13,809 11,068 Pet Nutrition 1,210 1,175 1,033 Corporate (1) 64 50 60 Total Identifiable assets (2) $ 15,920 $ 15,034 $ 12,161 ____________ (1) In 2020, Corporate identifiable assets primarily consist of investments in equity securities (95%). In 2019, Corporate identifiable assets primarily consist of derivative instruments (2%) and investments in equity securities (92%). In 2018, Corporate identifiable assets primarily consist of derivative instruments (7%) and investments in equity securities (88%). (2) Long-lived assets in the U.S., primarily property, plant and equipment and goodwill and other intangibles represented approximately one-third of total long-lived assets of $10,911 in 2020, one-third of total long-lived assets of $10,192 in 2019, and one-half of total long-lived assets of $8,259 in 2018.

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Schedule of Right-of-use Assets and Liabilities for Operating Leases	As of December 31, 2020 and 2019, the Company’s right-of use assets and liabilities for operating leases were as follows: 2020 2019 Other assets $ 521 $ 502 Other accruals $ 137 $ 145 Other liabilities 476 491 Total operating lease liabilities $ 613 $ 636
Schedule of Operating Lease Liabilities	Lease liabilities for operating leases as of December 31, 2020 were as follows: 2021 $ 157 2022 133 2023 89 2024 58 2025 46 Thereafter 232 Total lease commitments $ 715 Less: Interest (102) Present value of lease liabilities $ 613
Schedule of Components of Operating Lease Expense	The components of the Company’s operating lease cost for the twelve months ended December 31, 2020 and 2019 were as follows: 2020 2019 Operating lease cost $ 155 $ 169 Short-term lease cost 3 5 Variable lease cost 20 30 Total lease cost $ 178 $ 204

Supplemental Income Statement_2

Supplemental Income Statement Information (Tables)	12 Months Ended
	Dec. 31, 2020
Supplemental Income Statement Elements [Abstract]
Other (income) expense, net	Other (income) expense, net 2020 2019 2018 Global Growth and Efficiency Program $ (13) $ 57 $ 88 Amortization of intangible assets 88 62 59 Equity income (12) (9) (10) Value-added tax matter in Brazil — (30) — Write-off of certain investments and fixed assets — 51 1 Acquisition-related costs 2 21 — Charges for a change in go-to-market strategy in certain countries — 15 — Other, net 48 29 10 Total Other (income) expense, net $ 113 $ 196 $ 148
Interest expense, net	Interest (income) expense, net 2020 2019 2018 Interest incurred $ 184 $ 193 $ 195 Interest capitalized (1) (1) (2) Interest income (19) (47) (50) Total Interest (income) expense, net $ 164 $ 145 $ 143
Research and development and Advertising	2020 2019 2018 Research and development $ 290 $ 281 $ 277 Advertising $ 1,948 $ 1,694 $ 1,590

Supplemental Balance Sheet In_2

Supplemental Balance Sheet Information (Tables)	12 Months Ended
	Dec. 31, 2020
Balance Sheet Related Disclosures [Abstract]
Schedule of Inventories by Major Class	Inventories by major class are as follows at December 31: Inventories 2020 2019 Raw materials and supplies $ 454 $ 305 Work-in-process 45 49 Finished goods 1,256 1,056 Total Inventories, net $ 1,755 $ 1,410 Non-current inventory, net (82) (10) Current Inventories, net $ 1,673 $ 1,400
Schedule of Property, Plant and Equipment	Property, plant and equipment, net 2020 2019 Land $ 166 $ 153 Buildings 1,623 1,600 Manufacturing machinery and equipment 5,409 5,309 Other equipment 1,553 1,518 8,751 8,580 Accumulated depreciation (5,035) (4,830) Total Property, plant and equipment, net $ 3,716 $ 3,750
Schedule of Other Accruals	Other accruals 2020 2019 Accrued advertising and coupon redemption $ 728 $ 525 Accrued payroll and employee benefits 401 340 Accrued taxes other than income taxes 116 104 Restructuring accrual 21 85 Pension and other retiree benefits 89 54 Lease Liabilities Due in One Year 137 145 Accrued interest 39 43 Derivatives 93 16 Other 717 605 Total Other accruals $ 2,341 $ 1,917
Schedule of Other Liabilities	Other liabilities 2020 2019 Pension and other retiree benefits $ 1,815 $ 1,728 Restructuring accrual 10 15 Long-Term Lease Liabilities 476 491 Other 354 364 Total Other liabilities $ 2,655 $ 2,598

Supplemental Other Comprehens_2

Supplemental Other Comprehensive Income (Loss) Information (Tables)	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Schedule of Comprehensive Income (Loss)	Other comprehensive income (loss) components attributable to Colgate-Palmolive Company before tax and net of tax during the years ended December 31 were as follows: 2020 2019 2018 Pretax Net of Tax Pretax Net of Tax Pretax Net of Tax Cumulative translation adjustments $ (119) $ (30) $ 49 $ 27 $ (233) $ (218) Pension and other benefits: Net actuarial gain (loss), prior (125) (97) (204) (154) (21) (16) Amortization of net actuarial loss, transition and prior service costs (1) 74 57 72 54 69 54 Retirement Plan and other retiree benefit (51) (40) (132) (100) 48 38 Cash flow hedges: Unrealized gains (losses) on cash flow (3) (2) (9) (7) 10 8 Reclassification of (gains) losses into net earnings on cash flow hedges (2) — — (6) (5) 3 2 Gains (losses) on cash flow hedges (3) (2) (15) (12) 13 10 Total Other comprehensive income (loss) $ (173) $ (72) $ (98) $ (85) $ (172) $ (170) _________ (1) These components of Other comprehensive income (loss) are included in the computation of total pension cost. See Note 10, Retirement Plans and Other Retiree Benefits for additional details. (2) These (gains) losses are reclassified into Cost of sales. See Note 7, Fair Value Measurements and Financial Instruments for additional details.

Quarterly Financial Data (Una_2

Quarterly Financial Data (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2020
Quarterly Financial Data [Abstract]
Schedule of Quarterly Financial Information	Total First Second Third Fourth 2020 Net sales $ 16,471 $ 4,097 $ 3,897 $ 4,153 $ 4,324 Gross profit 10,017 (1) 2,465 (3) 2,369 2,540 2,643 Net income including noncontrolling interests 2,860 (2) 748 (4) 675 745 (5) 692 (6) Net income attributable to Colgate-Palmolive Company 2,695 (2) 715 (4) 635 698 (5) 647 (6) Earnings per common share: Basic 3.15 (2) 0.83 (4) 0.74 0.81 (5) 0.76 (6) Diluted 3.14 (2) 0.83 (4) 0.74 0.81 (5) 0.75 (6) 2019 Net sales $ 15,693 $ 3,884 $ 3,866 $ 3,928 $ 4,015 Gross profit 9,325 (7) 2,287 (9) 2,308 (11) 2,316 (13) 2,414 (15) Net income including noncontrolling interests 2,527 (8) 600 (10) 618 (12) 627 (14) 682 (16) Net income attributable to Colgate-Palmolive Company 2,367 (8) 560 (10) 586 (12) 578 (14) 643 (16) Earnings per common share: Basic 2.76 (8) 0.65 (10) 0.68 (12) 0.67 (14) 0.75 (16) Diluted 2.75 (8) 0.65 (10) 0.68 (12) 0.67 (14) 0.75 (16) ____________ Note: Basic and diluted earnings per share are computed independently for each quarter and the year-to-date period presented. Accordingly, the sum of the quarterly earnings per common share may not necessarily equal the earnings per share for the year-to-date period. (1) Gross profit for the full year of 2020 includes a $4 charge for acquisition-related costs. (2) Net income including noncontrolling interests, Net income attributable to Colgate-Palmolive Company and Earnings per common share for the full year of 2020 include aftertax benefits of $13 resulting from the Global Growth and Efficiency Program, a $4 aftertax charge for acquisition-related costs, a $71 tax benefit related to subsidiary and operating structure initiatives and a $18 aftertax loss on the early extinguishment of debt. (3) Gross profit for the first quarter of 2020 includes a $4 charge for acquisition-related costs. (4) Net income including noncontrolling interests, Net income attributable to Colgate-Palmolive Company and Earnings per common share for the first quarter of 2020 include a $4 aftertax charge for acquisition-related costs and a $71 tax benefit related to subsidiary and operating structure initiatives. (5) Net income including noncontrolling interests, Net income attributable to Colgate-Palmolive Company and Earnings per common share for the third quarter of 2020 include aftertax benefits of $13 resulting from the Global Growth and Efficiency Program. (6) Net income including noncontrolling interests, Net income attributable to Colgate-Palmolive Company and Earnings per common share for the fourth quarter of 2020 include a $18 aftertax loss on the early extinguishment of debt. (7) Gross profit for the full year of 2019 includes $8 of charges resulting from the Global Growth and Efficiency Program and a $3 charge for acquisit ion-related costs. (8) Net income including noncontrolling interests, Net income attributable to Colgate-Palmolive Company and Earnings per common share for the full year of 2019 include $102 of aftertax charges resulting from the Global Growth and Efficiency Program, a $20 aftertax charge for acquisition-related costs, a $20 aftertax benefit related to a value added tax matter in Brazil and a $29 tax benefit related to Swiss income tax reform. (9) Gross profit for the first quarter of 2019 includes $11 of charges resulting from the Global Growth and Efficiency Program. (10) Net income including noncontrolling interests, Net income attributable to Colgate-Palmolive Company and Earnings per common share for the first quarter of 2019 include $22 of aftertax charges resulting from the Global Growth and Efficiency Program. (11) Gross profit for the second quarter of 2019 includes $3 of charges resulting from the Global Growth and Efficiency Program. (12) Net income including noncontrolling interests, Net income attributable to Colgate-Palmolive Company and Earnings per common share for the second quarter of 2019 include $31 of aftertax charges resulting from the Global Growth and Efficiency Program. (13) Gross profit for the third quarter of 2019 includes $1 of charges resulting from the Global Growth and Efficiency Program. (14) Net income including noncontrolling interests, Net income attributable to Colgate-Palmolive Company and Earnings per common share for the third quarter of 2019 include $22 of aftertax charges resulting from the Global Growth and Efficiency Program and a $14 aftertax charge related to U.S. tax reform. (15) Gross profit for the fourth quarter of 2019 includes $1 of benefit resulting from the Global Growth and Efficiency Program and a $3 charge for acquisition-related costs. (16) Net income including noncontrolling interests, Net income attributable to Colgate-Palmolive Company and Earnings per common share for the fourth quarter of 2019 include $27 of aftertax charges resulting from the Global Growth and Efficiency Program, a $6 charge for acquisition-related costs, a $20 aftertax benefit related to a value added tax matter in Brazil and a $29 tax benefit related to Swiss income tax reform.

Nature of Operations (Details)

Nature of Operations (Details) - business_segment	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of product segments (in segments)	2
Sales Revenue, Net | Product Concentration Risk
Entity-Wide Information, Revenue from External Customer [Line Items]
Percent of net sales	100.00%	100.00%	100.00%
Sales Revenue, Net | Product Concentration Risk | Oral Care
Entity-Wide Information, Revenue from External Customer [Line Items]
Percent of net sales	44.00%	46.00%	47.00%
Sales Revenue, Net | Product Concentration Risk | Personal Care
Entity-Wide Information, Revenue from External Customer [Line Items]
Percent of net sales	21.00%	20.00%	20.00%
Sales Revenue, Net | Product Concentration Risk | Home Care
Entity-Wide Information, Revenue from External Customer [Line Items]
Percent of net sales	18.00%	18.00%	18.00%
Sales Revenue, Net | Product Concentration Risk | Pet Nutrition
Entity-Wide Information, Revenue from External Customer [Line Items]
Percent of net sales	17.00%	16.00%	15.00%

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Principles of Consolidation, Shipping and Handling Costs, Inventories, & Property, Plant, and Equipment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Principles of Consolidation [Abstract]
Investments accounted for using the equity method, minimum interest	20.00%
Investments accounted for using the equity method, maximum interest	50.00%
Equity method investments included in other assets	$ 56	$ 50
Investments accounted for using the cost method, maximum interest	20.00%
Property, Plant and Equipment [Line Items]
Selling, general and administrative expenses	$ 6,019	5,575	$ 5,389
Inventories [Abstract]
Approximate percentage of inventories determined using the first-in, first-out (FIFO) method	75.00%
Minimum | Machinery and equipment
Property, Plant and Equipment [Line Items]
Estimated useful life	3 years
Maximum | Machinery and equipment
Property, Plant and Equipment [Line Items]
Estimated useful life	15 years
Maximum | Buildings
Property, Plant and Equipment [Line Items]
Estimated useful life	40 years
Shipping and Handling
Property, Plant and Equipment [Line Items]
Selling, general and administrative expenses	$ 1,392	$ 1,275	$ 1,255

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Goodwill and Other Intangibles (Details) - Local Brands, Trademarks, Customer Relationships, and Non-Compete Agreements	12 Months Ended
	Dec. 31, 2020
Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated useful life of finite-lived intangible assets	5 years
Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated useful life of finite-lived intangible assets	40 years

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) € in Millions, $ in Millions	Jan. 31, 2020USD ($)	Sep. 19, 2019USD ($)	Sep. 19, 2019EUR (€)	Aug. 15, 2019USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2020EUR (€)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Business Acquisition [Line Items]
Goodwill							$ 3,824	$ 3,508
Purchases of non-contolling interests in subsidiaries							$ 99	$ 0	$ 0
hello
Business Acquisition [Line Items]
Payments to acquire business	$ 351
Purchase price consideration	351
Other intangible assets	160
Goodwill	171
hello | North America
Business Acquisition [Line Items]
Goodwill	171
hello | Trademarks
Business Acquisition [Line Items]
Other intangible assets	$ 115
Useful life	25 years
hello | Customer Relationships
Business Acquisition [Line Items]
Other intangible assets	$ 45
Useful life	17 years
Filorga
Business Acquisition [Line Items]
Payments to acquire business		$ 1,674	€ 1,516
Consideration transferred, other		38	€ 32
Purchase price consideration		1,712
Other intangible assets		1,051
Goodwill		923
Purchases of non-contolling interests in subsidiaries					$ 99	€ 85
Filorga | Trademarks
Business Acquisition [Line Items]
Other intangible assets		774
Filorga | Europe
Business Acquisition [Line Items]
Goodwill		923
Filorga | Customer Relationships
Business Acquisition [Line Items]
Other intangible assets		$ 277
Useful life		14 years	14 years
Nigeria Joint Venture
Business Acquisition [Line Items]
Purchase price consideration				$ 31
Percentage of voting interests acquired				51.00%

Acquisitions - Schedule of Reco

Acquisitions - Schedule of Recognized Identifiable Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Millions	Dec. 31, 2020	Jan. 31, 2020	Dec. 31, 2019	Sep. 19, 2019
Business Acquisition [Line Items]
Goodwill	$ 3,824		$ 3,508
hello
Business Acquisition [Line Items]
Receivables		$ 11
Inventories		13
Other assets and liabilities, net		(4)
Other intangible assets		160
Goodwill		171
Fair value of net assets acquired		$ 351
Filorga
Business Acquisition [Line Items]
Cash				$ 30
Receivables				53
Inventories				70
Other current assets				18
Other intangible assets				1,051
Goodwill				923
Other current liabilities				(67)
Deferred income taxes				(276)
Noncontrolling interests				(90)
Fair value of net assets acquired				$ 1,712

Restructuring and Related Imp_3

Restructuring and Related Implementation Charges - Narrative (Details) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2020USD ($)	Dec. 31, 2020USD ($)case	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Restructuring Cost and Reserve [Line Items]
Number of new approved restructuring projects | case		0
Total Global Growth and Efficiency Program charges, pretax		$ (13)	$ 57	$ 88
Global Growth and Efficiency Program
Restructuring Cost and Reserve [Line Items]
Restructuring reduction	$ 16
Restructuring reduction after tax	13
Payments for Restructuring		53	113	167
Restructuring Reserve	31	31	100	202	$ 234
Pretax charges related to the Restructuring Program to date			1,854
Restructuring and related cost incurred cost to date after tax			1,380
Charges against assets			76	27
Total Global Growth and Efficiency Program charges, pretax			132	161
Global Growth and Efficiency Program | Employee-Related Costs
Restructuring Cost and Reserve [Line Items]
Payments for Restructuring			55	107
Restructuring Reserve			26	60	$ 127
Pretax charges related to the Restructuring Program to date			706
Charges against assets		$ 3	7	9
Total Global Growth and Efficiency Program charges, pretax			25	53
Global Growth and Efficiency Program | Third party Incremental Cost
Restructuring Cost and Reserve [Line Items]
Total Global Growth and Efficiency Program charges, pretax			32	42
Global Growth and Efficiency Program | Contract Termination
Restructuring Cost and Reserve [Line Items]
Total Global Growth and Efficiency Program charges, pretax			5	48
Global Growth and Efficiency Program | Land and Building
Restructuring Cost and Reserve [Line Items]
Total Global Growth and Efficiency Program charges, pretax			28
Global Growth and Efficiency Program | Selling, general and administrative expenses
Restructuring Cost and Reserve [Line Items]
Restructuring reduction	3
Total Global Growth and Efficiency Program charges, pretax			60	33
Global Growth and Efficiency Program | Other (income) expense, net
Restructuring Cost and Reserve [Line Items]
Restructuring reduction	$ 13
Total Global Growth and Efficiency Program charges, pretax			$ 57	$ 88

Restructuring and Related Imp_4

Restructuring and Related Implementation Charges - Summary of Restructuring and Related Costs (Details) - USD ($) $ in Millions	3 Months Ended				12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Restructuring Cost and Reserve [Line Items]
Total Global Growth and Efficiency Program charges, pretax					$ (13)	$ 57	$ 88
Global Growth and Efficiency Program
Restructuring Cost and Reserve [Line Items]
Total Global Growth and Efficiency Program charges, pretax						132	161
Total Global Growth and Efficiency Program charges, aftertax						102	125
Global Growth and Efficiency Program | Cost of sales
Restructuring Cost and Reserve [Line Items]
Total Global Growth and Efficiency Program charges, pretax	$ (1)	$ 1	$ 3	$ 11		8	31
Global Growth and Efficiency Program | Selling, general and administrative expenses
Restructuring Cost and Reserve [Line Items]
Total Global Growth and Efficiency Program charges, pretax						60	33
Global Growth and Efficiency Program | Other (income) expense, net
Restructuring Cost and Reserve [Line Items]
Total Global Growth and Efficiency Program charges, pretax						57	88
Global Growth and Efficiency Program | Non-service related postretirement costs
Restructuring Cost and Reserve [Line Items]
Total Global Growth and Efficiency Program charges, pretax						$ 7	$ 9

Restructuring and Related Imp_5

Restructuring and Related Implementation Charges - Restructuring Charges Incurred, by Segment (Details) - Global Growth and Efficiency Program	12 Months Ended		87 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019
Restructuring Cost and Reserve [Line Items]
Percent of total restructuring charges related to segment	100.00%	100.00%
Percent of restructuring charges related to segment, total program accumulated charges			100.00%
Pet Nutrition
Restructuring Cost and Reserve [Line Items]
Percent of total restructuring charges related to segment	2.00%	19.00%
Percent of restructuring charges related to segment, total program accumulated charges			8.00%
Corporate
Restructuring Cost and Reserve [Line Items]
Percent of total restructuring charges related to segment	73.00%	37.00%
Percent of restructuring charges related to segment, total program accumulated charges			42.00%
North America
Restructuring Cost and Reserve [Line Items]
Percent of total restructuring charges related to segment	4.00%	18.00%
Percent of restructuring charges related to segment, total program accumulated charges			17.00%
Latin America
Restructuring Cost and Reserve [Line Items]
Percent of total restructuring charges related to segment	12.00%	10.00%
Percent of restructuring charges related to segment, total program accumulated charges			5.00%
Europe
Restructuring Cost and Reserve [Line Items]
Percent of total restructuring charges related to segment	4.00%	(2.00%)
Percent of restructuring charges related to segment, total program accumulated charges			19.00%
Asia Pacific
Restructuring Cost and Reserve [Line Items]
Percent of total restructuring charges related to segment	6.00%	13.00%
Percent of restructuring charges related to segment, total program accumulated charges			4.00%
Africa/Eurasia
Restructuring Cost and Reserve [Line Items]
Percent of total restructuring charges related to segment	(1.00%)	5.00%
Percent of restructuring charges related to segment, total program accumulated charges			5.00%

Restructuring and Related Imp_6

Restructuring and Related Implementation Charges - Summary of Restructuring Charges, Cumulative to Date (Details) - Global Growth and Efficiency Program $ in Millions	Dec. 31, 2019USD ($)
Restructuring Cost and Reserve [Line Items]
Pretax charges related to the Restructuring Program to date	$ 1,854
Employee-Related Costs
Restructuring Cost and Reserve [Line Items]
Pretax charges related to the Restructuring Program to date	706
Incremental Depreciation
Restructuring Cost and Reserve [Line Items]
Pretax charges related to the Restructuring Program to date	128
Asset Impairments
Restructuring Cost and Reserve [Line Items]
Pretax charges related to the Restructuring Program to date	58
Other
Restructuring Cost and Reserve [Line Items]
Pretax charges related to the Restructuring Program to date	$ 962

Restructuring and Related Imp_7

Restructuring and Related Implementation Charges - Restructuring Activity and Related Accruals (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Restructuring Reserve [Roll Forward]
Restructuring and related charges (benefits)	$ (13)	$ 57	$ 88
Global Growth and Efficiency Program
Restructuring Reserve [Roll Forward]
Beginning balance	100	202	234
Restructuring and related charges (benefits)		132	161
Cash payments	(53)	(113)	(167)
Charges against assets		(76)	(27)
Foreign exchange		3	(4)
Other		(48)	5
Ending balance	31	100	202
Global Growth and Efficiency Program | Employee-Related Costs
Restructuring Reserve [Roll Forward]
Beginning balance	26	60	127
Restructuring and related charges (benefits)		25	53
Cash payments		(55)	(107)
Charges against assets	(3)	(7)	(9)
Foreign exchange		3	(4)
Other		0	0
Ending balance		26	60
Global Growth and Efficiency Program | Incremental Depreciation
Restructuring Reserve [Roll Forward]
Beginning balance	0	0	0
Restructuring and related charges (benefits)		36	2
Cash payments		0	0
Charges against assets		(36)	(2)
Foreign exchange		0	0
Other		0	0
Ending balance		0	0
Global Growth and Efficiency Program | Asset Impairments
Restructuring Reserve [Roll Forward]
Beginning balance	0	0	0
Restructuring and related charges (benefits)		6	16
Cash payments		0	0
Charges against assets		(6)	(16)
Foreign exchange		0	0
Other		0	0
Ending balance		0	0
Global Growth and Efficiency Program | Other
Restructuring Reserve [Roll Forward]
Beginning balance	$ 74	142	107
Restructuring and related charges (benefits)		65	90
Cash payments		(58)	(60)
Charges against assets		(27)	0
Foreign exchange		0	0
Other		(48)	5
Ending balance		$ 74	$ 142

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Schedule of Goodwill (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Goodwill [Line Items]
Goodwill	$ 3,824	$ 3,508
Oral, Personal and Home Care
Goodwill [Line Items]
Goodwill	3,809	3,493
Pet Nutrition
Goodwill [Line Items]
Goodwill	15	15
North America | Oral, Personal and Home Care
Goodwill [Line Items]
Goodwill	912	737
Latin America | Oral, Personal and Home Care
Goodwill [Line Items]
Goodwill	171	212
Europe | Oral, Personal and Home Care
Goodwill [Line Items]
Goodwill	2,415	2,234
Asia Pacific | Oral, Personal and Home Care
Goodwill [Line Items]
Goodwill	190	186
Africa/Eurasia | Oral, Personal and Home Care
Goodwill [Line Items]
Goodwill	$ 121	$ 124

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Summary of Other Intangible Assets (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Finite and indefinite-lived intangible assets [Line Items]
Finite & indefinite lived intangibles, gross	$ 3,553	$ 3,217
Finite-lived intangible assets, accumulated amortization, net	(659)	(550)
Intangible assets, net (excluding goodwill)	2,894	2,667
Indefinite life intangible assets
Finite and indefinite-lived intangible assets [Line Items]
Indefinite-lived intangible assets (excluding goodwill)	1,865	1,747
Trademarks
Finite and indefinite-lived intangible assets [Line Items]
Finite-lived intangible assets, gross	902	771
Finite-lived intangible assets, accumulated amortization, net	(422)	(381)
Finite-lived intangible assets, net	480	390
Other finite life intangible assets
Finite and indefinite-lived intangible assets [Line Items]
Finite-lived intangible assets, gross	786	699
Finite-lived intangible assets, accumulated amortization, net	(237)	(169)
Finite-lived intangible assets, net	$ 549	$ 530

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Goodwill [Line Items]
Amortization of intangible assets	$ 88	$ 62	$ 59
Annual estimated amortization expense, year 1	83
Annual estimated amortization expense, year 2	83
Annual estimated amortization expense, year 3	83
Annual estimated amortization expense, year 4	83
Annual estimated amortization expense, year 5	$ 83
Filorga Reporting Unit
Goodwill [Line Items]
Reporting unit, percentage of fair value in excess of carrying amount	10.00%
Reporting unit, impairment analysis, projected reduction in fair value, percentage	5.00%
Filorga Reporting Unit | Indefinite life intangible assets
Goodwill [Line Items]
Indefinite-lived intangible assets, percentage of fair value in excess of carrying amount	10.00%
Filorga Reporting Unit | Scenario One
Goodwill [Line Items]
Reporting unit, impairment analysis, reduction in long-term growth rate, percentage	0.50%
Filorga Reporting Unit | Scenario One | Indefinite life intangible assets
Goodwill [Line Items]
Reporting unit, impairment analysis, reduction in long-term growth rate, percentage	0.50%
Filorga Reporting Unit | Scenario Two
Goodwill [Line Items]
Reporting unit, impairment analysis, increase in discount rate, percentage	0.25%
Filorga Reporting Unit | Scenario Two | Indefinite life intangible assets
Goodwill [Line Items]
Reporting unit, impairment analysis, increase in discount rate, percentage	0.25%
Reporting Units Other Than Filorga
Goodwill [Line Items]
Indefinite-lived intangible assets, percentage of fair value in excess of carrying amount	20.00%

Long-Term Debt and Credit Fac_3

Long-Term Debt and Credit Facilities - Components of Long-term Debt (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Total debt	$ 7,343	$ 7,587
Less: Current portion of long-term debt	(9)	(254)
Total debt, excluding current portion of long-term debt	$ 7,334	7,333
Notes
Debt Instrument [Line Items]
Weighted average interest rate	1.90%
Total debt	$ 6,170	6,988
Commercial paper
Debt Instrument [Line Items]
Weighted average interest rate	(0.30%)
Total debt	$ 1,139	579
Finance Lease Obligations
Debt Instrument [Line Items]
Total debt	$ 34	$ 20

Long-Term Debt and Credit Fac_4

Long-Term Debt and Credit Facilities - Schedule of Long-Term Debt and Finance Lease Maturities (Details) $ in Millions	Dec. 31, 2020USD ($)
Debt Disclosure [Abstract]
2021	$ 631
2022	413
2023	896
2024	498
2025	130
Thereafter	$ 3,636

Long-Term Debt and Credit Fac_5

Long-Term Debt and Credit Facilities - Narrative (Details) $ in Millions	Aug. 31, 2020USD ($)	Aug. 31, 2019	Dec. 31, 2020USD ($)	Dec. 31, 2019EUR (€)	Mar. 31, 2019USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Mar. 31, 2019EUR (€)	Nov. 30, 2018USD ($)
Debt Instrument [Line Items]
Weighted-average interest rate on short term borrowings			4.80%	1.80%		4.80%
Debt instrument term	364 days
Loss on early extinguishment of debt						$ 23	$ 0	$ 0
Unused borrowing capacity			$ 4,657			$ 4,657
Amended Domestic Revolving Credit Facility 2650 Million Capacity
Debt Instrument [Line Items]
Maximum borrowing capacity										$ 2,650
Term extension		1 year
Amended Foreign Revolving Credit Facility 1500 Million Capacity
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 1,500
Seven Year notes at 0.50 Percent
Debt Instrument [Line Items]
Face amount | €									€ 500,000,000
Debt instrument term					7 years
Fixed interest rate					0.50%				0.50%
Fifteen Year notes at 1.375 Percent
Debt Instrument [Line Items]
Face amount | €									€ 500,000,000
Debt instrument term					15 years
Fixed interest rate					1.375%				1.375%
Two Year Notes at 0.00 Percent
Debt Instrument [Line Items]
Face amount | €				€ 500,000,000
Debt instrument term				2 years
Fixed interest rate				0.00%
Twenty Year Notes at 0.875 Percent
Debt Instrument [Line Items]
Face amount | €				€ 500,000,000
Debt instrument term				20 years
Fixed interest rate				0.875%
1.75 Percent
Debt Instrument [Line Items]
Face amount					$ 500				€ 500,000,000
Fixed interest rate					1.75%				1.75%
2.45% Notes Due 2021
Debt Instrument [Line Items]
Fixed interest rate			2.45%			2.45%
Repayments of Debt			$ 300
2.30% Notes Due 2022
Debt Instrument [Line Items]
Fixed interest rate			2.30%			2.30%
Repayments of Debt			$ 500
2.45% Notes Due 2021 and 2.30% Notes Due 2022
Debt Instrument [Line Items]
Loss on early extinguishment of debt			$ 23

Fair Value Measurements and F_3

Fair Value Measurements and Financial Instruments - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)country_and_territory	Dec. 31, 2019USD ($)
Debt Instrument [Line Items]
Minimum number of countries and territories serving consumers (more than) (in countries and territories) | country_and_territory	200
Carrying Value
Debt Instrument [Line Items]
Carrying value of long-term debt	$ 7,343	$ 7,587
Fair Value, Inputs, Level 2
Debt Instrument [Line Items]
Estimated fair value of long-term debt	$ 8,175	$ 8,056

Fair Value Measurements and F_4

Fair Value Measurements and Financial Instruments - Fair Value of Derivative Instruments and Other Financial Instruments (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Designated derivative instruments
Derivative asset	$ 29	$ 10
Derivative liability	93	29
Other financial instruments
Investments fair value	37	23
Other assets | Interest rate swap contracts
Designated derivative instruments
Derivative asset	14	4
Other assets | Forward-starting interest rate swaps
Designated derivative instruments
Derivative asset	5	0
Other assets | Foreign currency contracts
Designated derivative instruments
Derivative asset	0	0
Other current assets
Other financial instruments
Marketable securities	37	23
Other current assets | Foreign currency contracts
Designated derivative instruments
Derivative asset	7	6
Other current assets | Commodity contracts
Designated derivative instruments
Derivative asset	3	0
Other liabilities | Interest rate swap contracts
Designated derivative instruments
Derivative liability	0	0
Other liabilities | Forward-starting interest rate swaps
Designated derivative instruments
Derivative liability	0	0
Other liabilities | Foreign currency contracts
Designated derivative instruments
Derivative liability	0	14
Other accruals | Foreign currency contracts
Designated derivative instruments
Derivative liability	93	15
Other accruals | Commodity contracts
Designated derivative instruments
Derivative liability	$ 0	$ 0

Fair Value Measurements and F_5

Fair Value Measurements and Financial Instruments - Carrying Value and Estimated Fair Value of Long-term Debt (Details) - Long-term Debt - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Carrying amount of hedged item	$ 413	$ 403
Cumulative hedging adjustment included in the carrying amount	$ 14	$ 4

Fair Value Measurements and F_6

Fair Value Measurements and Financial Instruments - Schedule of Notional Values (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Fair Value Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Notional value of derivative	$ 989	$ 788
Fair Value Hedges | Foreign currency contracts
Derivative Instruments, Gain (Loss) [Line Items]
Notional value of derivative	589	388
Fair Value Hedges | Foreign Currency Debt
Derivative Instruments, Gain (Loss) [Line Items]
Notional value of derivative	0	0
Fair Value Hedges | Interest rate swap contracts
Derivative Instruments, Gain (Loss) [Line Items]
Notional value of derivative	400	400
Fair Value Hedges | Forward-starting interest rate swaps
Derivative Instruments, Gain (Loss) [Line Items]
Notional value of derivative	0	0
Fair Value Hedges | Commodity contracts
Derivative Instruments, Gain (Loss) [Line Items]
Notional value of derivative	0	0
Cash Flow Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Notional value of derivative	1,171	781
Cash Flow Hedges | Foreign currency contracts
Derivative Instruments, Gain (Loss) [Line Items]
Notional value of derivative	854	761
Cash Flow Hedges | Foreign Currency Debt
Derivative Instruments, Gain (Loss) [Line Items]
Notional value of derivative	0	0
Cash Flow Hedges | Interest rate swap contracts
Derivative Instruments, Gain (Loss) [Line Items]
Notional value of derivative	0	0
Cash Flow Hedges | Forward-starting interest rate swaps
Derivative Instruments, Gain (Loss) [Line Items]
Notional value of derivative	300	0
Cash Flow Hedges | Commodity contracts
Derivative Instruments, Gain (Loss) [Line Items]
Notional value of derivative	17	20
Net Investment Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Notional value of derivative	5,051	4,334
Net Investment Hedges | Foreign currency contracts
Derivative Instruments, Gain (Loss) [Line Items]
Notional value of derivative	528	478
Net Investment Hedges | Foreign Currency Debt
Derivative Instruments, Gain (Loss) [Line Items]
Notional value of derivative	4,523	3,856
Net Investment Hedges | Interest rate swap contracts
Derivative Instruments, Gain (Loss) [Line Items]
Notional value of derivative	0	0
Net Investment Hedges | Forward-starting interest rate swaps
Derivative Instruments, Gain (Loss) [Line Items]
Notional value of derivative	0	0
Net Investment Hedges | Commodity contracts
Derivative Instruments, Gain (Loss) [Line Items]
Notional value of derivative	$ 0	$ 0

Fair Value Measurements and F_7

Fair Value Measurements and Financial Instruments - Schedule of Gain (Loss) on Hedges Recognized in Statements of Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Cost of sales
Derivative Instruments, Gain (Loss) [Line Items]
Total gain (loss) on hedges recognized in income	$ 0	$ 6
Cost of sales | Interest rate swap contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative instrument	0	0
Gain (loss) on hedged items	0	0
Cost of sales | Foreign currency contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative instrument	0	0
Gain (loss) on hedged items	0	0
Amount reclassified from OCI	1	5
Cost of sales | Commodity contracts
Derivative Instruments, Gain (Loss) [Line Items]
Amount reclassified from OCI	(1)	1
Selling, general and administrative expenses
Derivative Instruments, Gain (Loss) [Line Items]
Total gain (loss) on hedges recognized in income	0	0
Selling, general and administrative expenses | Interest rate swap contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative instrument	0	0
Gain (loss) on hedged items	0	0
Selling, general and administrative expenses | Foreign currency contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative instrument	29	10
Gain (loss) on hedged items	(29)	(10)
Amount reclassified from OCI	0	0
Selling, general and administrative expenses | Commodity contracts
Derivative Instruments, Gain (Loss) [Line Items]
Amount reclassified from OCI	0	0
Interest (income) expense, net
Derivative Instruments, Gain (Loss) [Line Items]
Total gain (loss) on hedges recognized in income	0	0
Interest (income) expense, net | Interest rate swap contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative instrument	(10)	(11)
Gain (loss) on hedged items	10	11
Interest (income) expense, net | Foreign currency contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative instrument	0	0
Gain (loss) on hedged items	0	0
Amount reclassified from OCI	0	0
Interest (income) expense, net | Commodity contracts
Derivative Instruments, Gain (Loss) [Line Items]
Amount reclassified from OCI	$ 0	$ 0

Fair Value Measurements and F_8

Fair Value Measurements and Financial Instruments - Schedule of Gain (Loss) Included in OCI (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Cash flow hedges [Abstract]
Gain (loss) recognized in OCI	$ (3)	$ (9)
Foreign currency contracts
Cash flow hedges [Abstract]
Gain (loss) recognized in OCI	(11)	(9)
Net investment hedges [Abstract]
Gain (loss) on instruments	(52)	4
Gain (loss) on hedged items	52	(4)
Forward-starting interest rate swaps
Cash flow hedges [Abstract]
Gain (loss) recognized in OCI	5	0
Commodity contracts
Cash flow hedges [Abstract]
Gain (loss) recognized in OCI	3	0
Foreign Currency Debt
Net investment hedges [Abstract]
Gain (loss) on instruments	(356)	12
Gain (loss) on hedged items	$ 356	$ (12)

Capital Stock and Stock-Based_3

Capital Stock and Stock-Based Compensation Plans - Narrative (Details) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)plan$ / sharesshares	Dec. 31, 2019USD ($)$ / shares	Dec. 31, 2018USD ($)$ / shares	Jun. 18, 2018USD ($)
Preference Stock [Abstract]
Shares authorized (in shares) | shares	50,262,150
Stock Repurchases [Abstract]
Repurchased stock	$ 1,476	$ 1,202	$ 1,238
Stock-Based Compensation [Abstract]
Number of stockholder approved plans, current | plan	1
Total stock-based compensation expense charged against pretax income	$ 107	100	109
Total income tax benefit from stock compensation	$ 20	$ 20	$ 25
Weighted-average estimated fair value of stock options granted (in dollars per share) | $ / shares	$ 11.26	$ 10.48	$ 9.48
Stock-based compensation, additional disclosures [Abstract]
Tax benefit from exercise of stock options and vesting of restricted stock unit awards	$ 8	$ 6	$ 12
Proceeds from exercise of stock options	$ 874	$ 498	329
Stock Option Plans
Additional disclosures pertaining to stock based compensation [Abstract]
Vesting period (in years)	3 years
Unrecognized compensation expense	$ 32
Number of shares available for grant (in shares) | shares	36,144,000
Unrecognized compensation expense, weighted-average period of recognition in years	1 year 6 months
Stock-based compensation, additional disclosures [Abstract]
Contractual term (in years)	8 years	6 years
Total intrinsic value of options exercised	$ 136	$ 84	92
Performance Shares | Incentive Stock Plans
Additional disclosures pertaining to stock based compensation [Abstract]
Vesting period (in years)	3 years
Unrecognized compensation expense	$ 41
Time-Vested Stock | Incentive Stock Plans
Additional disclosures pertaining to stock based compensation [Abstract]
Vesting period (in years)	3 years
Unrecognized compensation expense	$ 58
Number of shares available for grant (in shares) | shares	12,420,000
Unrecognized compensation expense, weighted-average period of recognition in years	2 years 1 month 6 days
Total fair value of shares vested	$ 58	$ 53	$ 55
Program 2018
Stock Repurchases [Abstract]
Stock repurchase program, authorized amount				$ 5,000
Repurchased stock	$ 1,476

Capital Stock and Stock-Based_4

Capital Stock and Stock-Based Compensation Plans - Summary of Common Stock and Treasury Stock Activity (Details) - shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Common Stock Outstanding
Common stock balance, January 1 (in shares)	854,701,779	862,912,792	874,701,118
Common stock acquired (in shares)	18,701,843	17,219,642	18,786,897
Shares issued for stock options (in shares)	13,018,354	8,145,777	6,040,920
Shares issued for restricted stock and other (in shares)	875,311	862,852	957,651
Common stock balance, December 31 (in shares)	849,893,601	854,701,779	862,912,792
Treasury Stock
Treasury stock balance, January 1 (in shares)	611,004,581	602,793,568	591,005,242
Common stock acquired (in shares)	18,701,843	17,219,642	18,786,897
Shares issued for stock options (in shares)	13,018,354	8,145,777	6,040,920
Shares issued for restricted stock and other (in shares)	875,311	862,852	957,651
Treasury stock balance, December 31 (in shares)	615,812,759	611,004,581	602,793,568

Capital Stock and Stock-Based_5

Capital Stock and Stock-Based Compensation Plans - Fair Value Assumptions (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Payment Arrangement [Abstract]
Expected term of options	6 years	6 years	4 years 6 months
Expected volatility rate	21.80%	19.20%	17.70%
Risk-free interest rate	0.50%	1.50%	2.80%
Expected dividend yield	2.30%	2.30%	2.50%

Capital Stock and Stock-Based_6

Capital Stock and Stock-Based Compensation Plans - Summary of Performance Restricted Stock Activity (Details) - Performance Shares shares in Thousands	12 Months Ended
	Dec. 31, 2020$ / sharesshares
Shares (in thousands)
Restricted stock awards - beginning balance (in shares) | shares	346
Granted (in shares) | shares	557
Forfeited (in shares) | shares	(38)
Restricted stock awards - ending balance (in shares) | shares	865
Weighted Average Grant Date Fair Value Per Award
Restricted stock awards - beginning of period (in dollars per share) | $ / shares	$ 67
Restricted stock awards - shares granted (in dollars per share) | $ / shares	76
Restricted stock awards - shares forfeited (in dollars per share) | $ / shares	69
Restricted stock awards - end of period (in dollars per share) | $ / shares	$ 73

Capital Stock and Stock-Based_7

Capital Stock and Stock-Based Compensation Plans - Summary of Restricted Stock Activity (Details) - Time-Vested Stock shares in Thousands	12 Months Ended
	Dec. 31, 2020$ / sharesshares
Shares (in thousands)
Restricted stock awards - beginning balance (in shares) | shares	2,203
Granted (in shares) | shares	727
Vested (in shares) | shares	(1,130)
Forfeited (in shares) | shares	(63)
Restricted stock awards - ending balance (in shares) | shares	1,737
Weighted Average Grant Date Fair Value Per Award
Restricted stock awards - beginning of period (in dollars per share) | $ / shares	$ 71
Restricted stock awards - shares granted (in dollars per share) | $ / shares	77
Weighted average grant date fair value of restricted stock awards - shares vested (in dollars per share) | $ / shares	74
Restricted stock awards - shares forfeited (in dollars per share) | $ / shares	71
Restricted stock awards - end of period (in dollars per share) | $ / shares	$ 73

Capital Stock and Stock-Based_8

Capital Stock and Stock-Based Compensation Plans - Summary of Stock Option Activity (Details) $ / shares in Units, shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)$ / sharesshares
Shares (in thousands)
Options - beginning balance (in shares) | shares	36,185
Granted (in shares) | shares	4,976
Exercised (in shares) | shares	(13,019)
Forfeited or expired (in shares) | shares	(601)
Options - ending balance (in shares) | shares	27,541
Options exercisable (in shares) | shares	18,084
Weighted Average Exercise Price
Options - beginning of period (in dollars per share) | $ / shares	$ 69
Options - shares granted (in dollars per share) | $ / shares	76
Options - shares exercised (in dollars per share) | $ / shares	67
Options - shares forfeited or expired (in dollars per share) | $ / shares	72
Options - end of period (in dollars per share) | $ / shares	72
Options exercisable - end of period (in dollars per share) | $ / shares	$ 70
Weighted average remaining contractual life, options outstanding (in years)	4 years
Weighted average remaining contractual life, options exercisable (in years)	3 years
Intrinsic value of unexercised in-the-money options, options outstanding | $	$ 386
Intrinsic value of unexercised in-the-money options, options exercisable | $	$ 274

Employee Stock Ownership Plan (

Employee Stock Ownership Plan (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Payment Arrangement [Abstract]
Shares in ESOP (in shares)	11,545,950	13,359,448
Outstanding borrowings in the ESOP	$ 1
Common shares released and allocated to participant accounts (in shares)	10,454,105
Common shares available for future allocation to participant accounts (in shares)	1,091,845
Annual ESOP expense	$ 0	$ 0	$ 0
Dividends paid by the Company on shares held by the ESOP	23	25	29
Company contributions to the ESOP	$ 0	$ 0	$ 0

Retirement Plans and Other Re_3

Retirement Plans and Other Retiree Benefits - Schedule of Target Asset Allocation (Details)	Dec. 31, 2020
United States
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Target asset allocation	100.00%
International
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Target asset allocation	100.00%
Equity securities | United States
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Target asset allocation	21.00%
Equity securities | International
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Target asset allocation	38.00%
Fixed income securities | United States
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Target asset allocation	74.00%
Fixed income securities | International
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Target asset allocation	46.00%
Real estate and other investments | United States
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Target asset allocation	5.00%
Real estate and other investments | International
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Target asset allocation	16.00%

Retirement Plans and Other Re_4

Retirement Plans and Other Retiree Benefits - Allocation of Plan Assets and Level of Valuation Input, by Major Asset Category (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Percent of fixed income assets invested in US treasury or agency securities	50.00%	50.00%
Other assets and liabilities, net
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		$ 0
Other Retiree Benefit Plans
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 3	37	$ 54
Other Retiree Benefit Plans | Fair Value, Inputs, Level 1, 2 and 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2	24
Other Retiree Benefit Plans | Fair Value Measured at Net Asset Value Per Share
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1	13
Other Retiree Benefit Plans | Cash and cash equivalents | Fair Value, Inputs, Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	1
Other Retiree Benefit Plans | U.S. common stocks | Fair Value, Inputs, Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	1
Other Retiree Benefit Plans | International common stocks | Fair Value, Inputs, Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Other Retiree Benefit Plans | Pooled funds | Fair Value, Inputs, Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	2
Other Retiree Benefit Plans | Fixed income securities | Fair Value, Inputs, Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2	20
Other Retiree Benefit Plans | Guaranteed investment contracts | Fair Value, Inputs, Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Other Retiree Benefit Plans | Domestic, developed and emerging markets equity funds | Fair Value Measured at Net Asset Value Per Share
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1	7
Other Retiree Benefit Plans | Fixed income funds | Fair Value Measured at Net Asset Value Per Share
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	3
Other Retiree Benefit Plans | Hedge funds | Fair Value Measured at Net Asset Value Per Share
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Other Retiree Benefit Plans | Multi-Asset funds | Fair Value Measured at Net Asset Value Per Share
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	2
Other Retiree Benefit Plans | Real estate funds | Fair Value Measured at Net Asset Value Per Share
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	1
Other Retiree Benefit Plans | Other assets and liabilities, net
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0
United States | Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,921	1,806	1,568
United States | Pension Plans | Fair Value, Inputs, Level 1, 2 and 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,233	1,187
United States | Pension Plans | Fair Value Measured at Net Asset Value Per Share
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	703	704
United States | Pension Plans | Cash and cash equivalents | Fair Value, Inputs, Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	50	41
United States | Pension Plans | U.S. common stocks | Fair Value, Inputs, Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	49
United States | Pension Plans | International common stocks | Fair Value, Inputs, Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
United States | Pension Plans | Pooled funds | Fair Value, Inputs, Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	65	29
United States | Pension Plans | Fixed income securities | Fair Value, Inputs, Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,117	1,067
United States | Pension Plans | Guaranteed investment contracts | Fair Value, Inputs, Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1	1
United States | Pension Plans | Domestic, developed and emerging markets equity funds | Fair Value Measured at Net Asset Value Per Share
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	456	328
United States | Pension Plans | Fixed income funds | Fair Value Measured at Net Asset Value Per Share
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	136	177
United States | Pension Plans | Hedge funds | Fair Value Measured at Net Asset Value Per Share
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	3
United States | Pension Plans | Multi-Asset funds | Fair Value Measured at Net Asset Value Per Share
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	77	155
United States | Pension Plans | Real estate funds | Fair Value Measured at Net Asset Value Per Share
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	34	41
United States | Pension Plans | Other assets and liabilities, net
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	(15)	(85)
International | Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	698	586	$ 510
International | Pension Plans | Fair Value, Inputs, Level 1, 2 and 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	252	181
International | Pension Plans | Fair Value Measured at Net Asset Value Per Share
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	446	405
International | Pension Plans | Cash and cash equivalents | Fair Value, Inputs, Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	12	15
International | Pension Plans | U.S. common stocks | Fair Value, Inputs, Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1	3
International | Pension Plans | International common stocks | Fair Value, Inputs, Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	8	3
International | Pension Plans | Pooled funds | Fair Value, Inputs, Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	117	104
International | Pension Plans | Fixed income securities | Fair Value, Inputs, Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	59	14
International | Pension Plans | Guaranteed investment contracts | Fair Value, Inputs, Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	55	42
International | Pension Plans | Domestic, developed and emerging markets equity funds | Fair Value Measured at Net Asset Value Per Share
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	183	165
International | Pension Plans | Fixed income funds | Fair Value Measured at Net Asset Value Per Share
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	225	196
International | Pension Plans | Hedge funds | Fair Value Measured at Net Asset Value Per Share
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	6	17
International | Pension Plans | Multi-Asset funds | Fair Value Measured at Net Asset Value Per Share
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2	2
International | Pension Plans | Real estate funds | Fair Value Measured at Net Asset Value Per Share
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	30	25
International | Pension Plans | Other assets and liabilities, net
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 0	$ 0

Retirement Plans and Other Re_5

Retirement Plans and Other Retiree Benefits - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Expected benefit payments from company assets	$ 90
Global Growth and Efficiency Program
Defined Benefit Plan Disclosure [Line Items]
Charges against assets		$ 76	$ 27
Employee-Related Costs | Global Growth and Efficiency Program
Defined Benefit Plan Disclosure [Line Items]
Charges against assets	$ 3	$ 7	9
Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Expected long-term rate of return on plan assets	5.70%
Pension Plans | United States
Defined Benefit Plan Disclosure [Line Items]
Percentage of investments in Company's common stock	0.00%	3.00%
U.S. plans assets sold to Company (in shares)	739,869	588,334
U.S. plans assets purchased to Company (in shares)	0	0
Defined Benefit Plan Dividends Received On Employer Securities	$ 0	$ 2
Expected long-term rate of return on plan assets	5.70%	6.30%
Average annual rates of return for the most recent 1-year period	15.00%
Average annual rates of return for the most recent 5-year period	9.00%
Average annual rates of return for the most recent 10-year period	8.00%
Average annual rates of return for the most recent 15-year period	7.00%
Average annual rates of return for the most recent 25-year period	7.00%
Other postretirement charges	$ 4	$ 7	9
Voluntary contributions to postretirement plans	$ 0	$ 113	67
Pension Plans | International
Defined Benefit Plan Disclosure [Line Items]
Expected long-term rate of return on plan assets	2.93%	3.38%
Other postretirement charges	$ 0	$ 1	2
Other Retiree Benefit Plans
Defined Benefit Plan Disclosure [Line Items]
Expected long-term rate of return on plan assets	5.70%	6.30%
Medical cost trend rate assumed for next fiscal year	6.00%
Ultimate medical cost trend rate	4.75%
Year which ultimate medical cost trend rate is reached	2026
Other postretirement charges	$ 0	$ 0	$ 0

Retirement Plans and Other Re_6

Retirement Plans and Other Retiree Benefits - Summary of Defined Benefit and Other Retiree Benefit Plans (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Amounts Recognized in Balance Sheet
Current liabilities	$ (89)	$ (54)
Pension Plans
Weighted-Average Assumptions Used to Determine Benefit Obligations
Expected long-term rate of return on plan assets	5.70%
Other Retiree Benefit Plans
Change in Benefit Obligations
Benefit obligations at beginning of year	$ 1,050	876
Service cost	20	15	$ 16
Interest cost	37	41	38
Participants’ contributions	0	0
Acquisitions/plan amendments	0	0
Actuarial loss (gain)	61	166
Foreign exchange impact	(9)	1
Termination benefits	0	0
Curtailments and settlements	0	0
Benefit payments	(47)	(49)
Other	0	0
Benefit obligations at end of year	1,112	1,050	876
Change in Plan Assets
Fair value of plan assets at beginning of year	37	54
Actual return on plan assets	2	8
Company contributions	11	24
Participants’ contributions	0	0
Foreign exchange impact	0	0
Settlements and acquisitions	0	0
Benefit payments	(47)	(49)
Other	0	0
Fair value of plan assets at end of year	3	37	54
Funded Status
Benefit obligations at end of year	1,112	1,050	876
Fair value of plan assets at end of year	3	37	54
Net amount recognized	(1,109)	(1,013)
Amounts Recognized in Balance Sheet
Noncurrent assets	0	0
Current liabilities	(45)	(13)
Noncurrent liabilities	(1,064)	(1,000)
Net amount recognized	(1,109)	(1,013)
Amounts Recognized in Accumulated Other Comprehensive Income (Loss)
Actuarial loss	429	388
Transition/prior service cost	0	(1)
Amounts recognized in accumulated other comprehensive income	429	387
Accumulated benefit obligation	$ 0	$ 0
Weighted-Average Assumptions Used to Determine Benefit Obligations
Discount rate	2.88%	3.56%
Expected long-term rate of return on plan assets	5.70%	6.30%
Long-term rate of compensation increase	3.50%	3.50%
ESOP growth rate	10.00%	10.00%
Medical cost trend rate of increase	6.00%	6.00%
Interest Crediting Rate	0.00%	0.00%
United States | Pension Plans
Change in Benefit Obligations
Benefit obligations at beginning of year	$ 2,272	$ 2,147
Service cost	1	1	1
Interest cost	74	90	86
Participants’ contributions	0	0
Acquisitions/plan amendments	0	0
Actuarial loss (gain)	171	181
Foreign exchange impact	0	0
Termination benefits	3	7
Curtailments and settlements	(3)	0
Benefit payments	(155)	(154)
Other	0	0
Benefit obligations at end of year	2,363	2,272	2,147
Change in Plan Assets
Fair value of plan assets at beginning of year	1,806	1,568
Actual return on plan assets	243	262
Company contributions	30	130
Participants’ contributions	0	0
Foreign exchange impact	0	0
Settlements and acquisitions	(3)	0
Benefit payments	(155)	(154)
Other	0	0
Fair value of plan assets at end of year	1,921	1,806	1,568
Funded Status
Benefit obligations at end of year	2,363	2,272	2,147
Fair value of plan assets at end of year	1,921	1,806	1,568
Net amount recognized	(442)	(466)
Amounts Recognized in Balance Sheet
Noncurrent assets	20	0
Current liabilities	(30)	(28)
Noncurrent liabilities	(432)	(438)
Net amount recognized	(442)	(466)
Amounts Recognized in Accumulated Other Comprehensive Income (Loss)
Actuarial loss	902	910
Transition/prior service cost	1	1
Amounts recognized in accumulated other comprehensive income	903	911
Accumulated benefit obligation	$ 2,325	$ 2,236
Weighted-Average Assumptions Used to Determine Benefit Obligations
Discount rate	2.65%	3.40%
Expected long-term rate of return on plan assets	5.70%	6.30%
Long-term rate of compensation increase	3.50%	3.50%
ESOP growth rate	0.00%	0.00%
Medical cost trend rate of increase	0.00%	0.00%
Interest Crediting Rate	2.48%	3.21%
International | Pension Plans
Change in Benefit Obligations
Benefit obligations at beginning of year	$ 876	$ 787
Service cost	17	14	14
Interest cost	21	22	21
Participants’ contributions	5	2
Acquisitions/plan amendments	30	3
Actuarial loss (gain)	65	82
Foreign exchange impact	46	8
Termination benefits	0	0
Curtailments and settlements	(7)	(9)
Benefit payments	(40)	(35)
Other	0	2
Benefit obligations at end of year	1,013	876	787
Change in Plan Assets
Fair value of plan assets at beginning of year	586	510
Actual return on plan assets	59	76
Company contributions	36	30
Participants’ contributions	5	2
Foreign exchange impact	26	12
Settlements and acquisitions	26	(9)
Benefit payments	(40)	(35)
Other	0	0
Fair value of plan assets at end of year	698	586	510
Funded Status
Benefit obligations at end of year	1,013	876	787
Fair value of plan assets at end of year	698	586	$ 510
Net amount recognized	(315)	(290)
Amounts Recognized in Balance Sheet
Noncurrent assets	18	13
Current liabilities	(14)	(13)
Noncurrent liabilities	(319)	(290)
Net amount recognized	(315)	(290)
Amounts Recognized in Accumulated Other Comprehensive Income (Loss)
Actuarial loss	255	238
Transition/prior service cost	7	7
Amounts recognized in accumulated other comprehensive income	262	245
Accumulated benefit obligation	$ 946	$ 816
Weighted-Average Assumptions Used to Determine Benefit Obligations
Discount rate	1.61%	2.06%
Expected long-term rate of return on plan assets	2.93%	3.38%
Long-term rate of compensation increase	2.62%	2.83%
ESOP growth rate	0.00%	0.00%
Medical cost trend rate of increase	0.00%	0.00%
Interest Crediting Rate	0.83%	0.85%

Retirement Plans and Other Re_7

Retirement Plans and Other Retiree Benefits - Benefit Obligation Exceeds Fair Value of Plan Assets (Details) - Pension Plans - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation	$ 1,092	$ 2,862
Fair value of plan assets	299	2,094
Accumulated benefit obligation	882	875
Fair value of plan assets	$ 134	$ 166

Retirement Plans and Other Re_8

Retirement Plans and Other Retiree Benefits - Summary of Other Retiree Benefit Plans (Details) - Other Retiree Benefit Plans - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligation	$ 1,112	$ 958
Fair value of plan assets	$ 3	$ 37

Retirement Plans and Other Re_9

Retirement Plans and Other Retiree Benefits - Summary of Net Periodic Benefit Costs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Other Retiree Benefit Plans
Components of Net Periodic Benefit Cost
Service cost	$ 20	$ 15	$ 16
Interest cost	37	41	38
Expected return on plan assets	(2)	(3)	(2)
Amortization of transition and prior service costs (credits)	0	0	0
Amortization of actuarial loss	18	11	14
Net periodic benefit cost	73	64	66
Other postretirement charges	0	0	0
Total pension cost	$ 73	$ 64	$ 66
Weighted-Average Assumptions Used to Determine Net Periodic Benefit Cost
Discount rate	3.56%	4.43%	3.80%
Expected long-term rate of return on plan assets	6.30%	6.60%	6.60%
Long-term rate of compensation increase	0.00%	0.00%	0.00%
ESOP growth rate	10.00%	10.00%	10.00%
Medical cost trend rate of increase	6.00%	6.00%	6.00%
Interest Crediting Rate	0.00%	0.00%	0.00%
United States | Pension Plans
Components of Net Periodic Benefit Cost
Service cost	$ 1	$ 1	$ 1
Interest cost	74	90	86
Expected return on plan assets	(111)	(103)	(115)
Amortization of transition and prior service costs (credits)	0	0	0
Amortization of actuarial loss	46	51	47
Net periodic benefit cost	10	39	19
Other postretirement charges	4	7	9
Total pension cost	$ 14	$ 46	$ 28
Weighted-Average Assumptions Used to Determine Net Periodic Benefit Cost
Discount rate	3.40%	4.38%	3.73%
Expected long-term rate of return on plan assets	6.30%	6.60%	6.60%
Long-term rate of compensation increase	3.50%	3.50%	3.50%
ESOP growth rate	0.00%	0.00%	0.00%
Medical cost trend rate of increase	0.00%	0.00%	0.00%
Interest Crediting Rate	3.21%	4.26%	3.73%
International | Pension Plans
Components of Net Periodic Benefit Cost
Service cost	$ 17	$ 14	$ 14
Interest cost	21	22	21
Expected return on plan assets	(22)	(19)	(21)
Amortization of transition and prior service costs (credits)	0	1	0
Amortization of actuarial loss	9	9	8
Net periodic benefit cost	25	27	22
Other postretirement charges	0	1	2
Total pension cost	$ 25	$ 28	$ 24
Weighted-Average Assumptions Used to Determine Net Periodic Benefit Cost
Discount rate	2.06%	2.80%	2.53%
Expected long-term rate of return on plan assets	3.38%	4.06%	4.04%
Long-term rate of compensation increase	2.83%	2.86%	2.79%
ESOP growth rate	0.00%	0.00%	0.00%
Medical cost trend rate of increase	0.00%	0.00%	0.00%
Interest Crediting Rate	0.85%	0.85%	0.85%

Retirement Plans and Other R_10

Retirement Plans and Other Retiree Benefits - Expected Contributions and Benefit Payments (Details) $ in Millions	Dec. 31, 2020USD ($)
Total benefit payments [Abstract]
2021	$ 245
2022	246
2023	249
2024	253
2025	252
2026-2030	1,254
Other Retiree Benefit Plans
Total benefit payments [Abstract]
2021	49
2022	49
2023	50
2024	51
2025	52
2026-2030	269
United States | Pension Plans
Total benefit payments [Abstract]
2021	154
2022	156
2023	157
2024	156
2025	155
2026-2030	741
International | Pension Plans
Total benefit payments [Abstract]
2021	42
2022	41
2023	42
2024	46
2025	45
2026-2030	$ 244

Income Taxes - Components of In

Income Taxes - Components of Income Before Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
United States	$ 1,317	$ 1,050	$ 1,175
International	2,330	2,251	2,289
Income before income taxes	$ 3,647	$ 3,301	$ 3,464

Income Taxes - Provision for In

Income Taxes - Provision for Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
United States	$ 259	$ 180	$ 213
International	528	594	693
Total Provision for income taxes	$ 787	$ 774	$ 906

Income Taxes - Income Tax Provi

Income Taxes - Income Tax Provision Reconciliation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Goodwill and intangible assets	$ 1	$ 34	$ 2
Property, plant and equipment	12	12	(15)
Pension and other retiree benefits	10	(13)	(7)
Stock-based compensation	(7)	(1)	9
Right-of-use assets/lease liabilities	(1)	0	0
Tax credits and tax loss carryforwards	(1)	3	(4)
Deferred withholding tax	111	(21)	(100)
Other, net	18	(33)	62
Total deferred tax benefit (provision)	$ 143	$ (19)	$ (53)

Income Taxes - Effective Tax Ra

Income Taxes - Effective Tax Rate Reconciliation (Details) - USD ($)	3 Months Ended			12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Dec. 31, 2017	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Restructuring Cost and Reserve [Line Items]
Tax at United States statutory rate				21.00%	21.00%	21.00%
State income taxes, net of federal benefit				1.00%	0.60%	1.00%
Earnings taxed at other than United States statutory rate				3.30%	4.60%	5.60%
Charge for U.S. tax reform				0	0	0.023
Foreign Tax Credit Carryback				0.00%	0.00%	(1.70%)
(Benefit) charge for previously disclosed tax matters				(2.00%)	(0.90%)	(0.40%)
Foreign-derived intangible income benefit				(1.60%)	(1.30%)	(1.10%)
Other, net				(0.10%)	(0.60%)	(0.50%)
Effective tax rate				21.60%	23.40%	26.20%
Effective Income Tax Rate Reconciliation, Deduction, Dividend, Percent				100.00%
Tax reform, provisional charge		$ 14,000,000	$ 275,000,000	$ 0	$ 0	$ 80,000,000
Discrete Income Tax Provision (Benefit)				71,000,000
Foreign Withholding Income Tax				45,000,000
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount				26,000,000
Withholding Tax Due				$ 0
Income tax benefit related to changes in swiss preferential tax regime and increase to cantonal tax rate	$ 29,000,000
SWITZERLAND
Restructuring Cost and Reserve [Line Items]
Benefit from foreign tax matter	$ 29,000,000				$ 29,000,000	$ 15,000,000

Income Taxes - Components of De

Income Taxes - Components of Deferred Tax Assets (Liabilities) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Deferred tax liabilities:
Goodwill and intangible assets	$ (603)	$ (598)
Property, plant and equipment	(281)	(303)
Right-of-use assets	(131)	(135)
Deferred withholding tax	(95)	(207)
Other	(52)	(46)
Total deferred tax liabilities	(1,162)	(1,289)
Deferred tax assets:
Pension and other retiree benefits	404	381
Tax credits and tax loss carryforwards	42	93
Lease liabilities	144	152
Accrued liabilities	250	221
Stock-based compensation	73	88
Other	125	83
Total deferred tax assets	1,038	1,018
Valuation Allowance	(11)	(59)
Net deferred tax assets	1,027	959
Assets:
Deferred income taxes	291	177
Liabilities:
Deferred income taxes	(426)	(507)
Net deferred income taxes	$ (135)	$ (330)

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Taxes [Line Items]
Income tax expense (benefit) allocated directly to equity	$ (101)	$ (13)	$ (2)
Unrecognized tax benefits that would impact effective tax rate	213
Cash outflow from unrecognized tax benefit that would impact effective tax rate	223
Interest (income) expense recognized related to unrecognized tax benefits	9	0	(1)
Accrued interest related to unrecognized tax benefits	$ 24	$ 23	$ 27
Minimum
Income Taxes [Line Items]
Statue of limitations on foreign jurisdictions for tax audits	3 years
Maximum
Income Taxes [Line Items]
Statue of limitations on foreign jurisdictions for tax audits	6 years

Income Taxes - Unrecognized Tax

Income Taxes - Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Unrecognized tax benefits:
Balance, January 1	$ 173	$ 190	$ 214
Increases as a result of tax positions taken during the current year	18	14	14
Decreases of tax positions taken during prior years	(5)	(21)	(37)
Increases of tax positions taken during prior years	57	20	9
Decreases as a result of settlements with taxing authorities and the expiration of statutes of limitations	(19)	(30)	(6)
Effect of foreign currency rate movements	3	0	(4)
Balance, December 31	$ 227	$ 173	$ 190

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Net income attributable to Colgate-Palmolive Company
Basic EPS									$ 2,695	$ 2,367	$ 2,400
Diluted EPS									$ 2,695	$ 2,367	$ 2,400
Shares (millions)
Basic EPS (in shares)									856.8	859.1	870.6
Stock options and restricted stock units (in shares)									2.5	2	2.4
Diluted EPS (in shares)									859.3	861.1	873
Earnings Per Share, Basic [Abstract]
Basic EPS (in dollars per share)	$ 0.76	$ 0.81	$ 0.74	$ 0.83	$ 0.75	$ 0.67	$ 0.68	$ 0.65	$ 3.15	$ 2.76	$ 2.76
Earnings Per Share, Diluted [Abstract]
Diluted EPS (in dollars per share)	$ 0.75	$ 0.81	$ 0.74	$ 0.83	$ 0.75	$ 0.67	$ 0.68	$ 0.65	$ 3.14	$ 2.75	$ 2.75

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details) - shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Employee Stock Option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	3,257,310	19,901,202	18,039,961
Restricted Stock Units (RSUs)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	25,381	4,516	9,529

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	1 Months Ended	3 Months Ended	12 Months Ended
	Apr. 30, 2019USD ($)	Jun. 30, 2019country_and_territory	Dec. 31, 2020USD ($)country_and_territorycase	Dec. 31, 2019case	Jul. 31, 2017USD ($)
Loss Contingencies [Line Items]
Contractual commitments, amount			$ 715
Number of countries in which entity operates | country_and_territory			200
Brazilian internal revenue authority, matter 1			$ 113
Loss Contingency, Number Of Cases On Appeal | country_and_territory			5
Brazilian internal revenue authority, matter 2			$ 50
Fine imposed by greek competition authority					$ 11
Increase (decrease) in fine imposed by Greek competition authority	$ 10.5
Loss contingency, pending claims, number (in cases) | case			137	121
Loss contingency, new claims filed, number (in cases) | case			65
Loss contingency, claims dismissed or settled, number (in cases) | case			49
Number of cases resulting in adverse jury verdict | country_and_territory		1
Minimum
Loss Contingencies [Line Items]
Range of reasonably possible losses			$ 0
Maximum
Loss Contingencies [Line Items]
Range of reasonably possible losses			$ 425

Segment Information - Narrative

Segment Information - Narrative (Details) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2019USD ($)	Dec. 31, 2020USD ($)business_segment	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Segment Reporting Information [Line Items]
Number of product segments (in segments) | business_segment		2
Number of reportable segments (in segments) | business_segment		5
Number of operating segments (in segments) | business_segment		5
Restructuring and related charges (benefits)		$ (13)	$ 57	$ 88
Acquisition-related costs	$ 6
Global Growth and Efficiency Program
Segment Reporting Information [Line Items]
Restructuring and related charges (benefits)			132	161
Operating Profit | Corporate
Segment Reporting Information [Line Items]
Acquisition-related costs		6	24
Benefit from foreign tax matter			30
Operating Profit | Global Growth and Efficiency Program
Segment Reporting Information [Line Items]
Restructuring and related charges (benefits)		$ 16	$ 125	$ 152
Sales Revenue, Net
Segment Reporting Information [Line Items]
Percentage of consolidated Net sales represented by sales outside US		70.00%
Percentage of consolidated Net sales coming from emerging markets		45.00%
Sales Revenue, Net | Customer Concentration Risk
Segment Reporting Information [Line Items]
Percentage of consolidated sales represented by one customer		12.00%

Segment Information - Schedule

Segment Information - Schedule of Segment Information (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Net sales	$ 4,324	$ 4,153	$ 3,897	$ 4,097	$ 4,015	$ 3,928	$ 3,866	$ 3,884	$ 16,471	$ 15,693	$ 15,544
Operating profit									3,885	3,554	3,694
Capital expenditures									409	335	436
Depreciation and amortization									539	519	511
Identifiable assets	$ 15,920				$ 15,034				$ 15,920	$ 15,034	$ 12,161
Percentage of corporate identifiable assets consisting of investments in equity securities	95.00%				92.00%				95.00%	92.00%	88.00%
Percentage of corporate identifiable assets consisting of derivative instruments					2.00%					2.00%	7.00%
Total long lived assets	$ 10,911				$ 10,192				$ 10,911	$ 10,192	$ 8,259
Oral, Personal and Home Care | United States
Segment Reporting Information [Line Items]
Net sales									3,447	3,166	3,091
Pet Nutrition | United States
Segment Reporting Information [Line Items]
Net sales									1,712	1,441	1,304
Operating Segments | Oral, Personal and Home Care
Segment Reporting Information [Line Items]
Net sales									13,588	13,168	13,156
Operating profit									3,594	3,505	3,616
Capital expenditures									274	223	309
Depreciation and amortization									380	358	351
Identifiable assets	14,646				13,809				14,646	13,809	11,068
Operating Segments | Oral, Personal and Home Care | North America
Segment Reporting Information [Line Items]
Net sales									3,741	3,424	3,348
Operating profit									988	982	1,037
Capital expenditures									65	43	53
Depreciation and amortization									101	94	88
Identifiable assets	4,132				3,576				4,132	3,576	3,310
Operating Segments | Oral, Personal and Home Care | Latin America
Segment Reporting Information [Line Items]
Net sales									3,418	3,606	3,605
Operating profit									975	963	995
Capital expenditures									104	90	131
Depreciation and amortization									81	84	82
Identifiable assets	2,251				2,384				2,251	2,384	2,225
Operating Segments | Oral, Personal and Home Care | Europe
Segment Reporting Information [Line Items]
Net sales									2,747	2,450	2,502
Operating profit									652	624	634
Capital expenditures									41	42	39
Depreciation and amortization									94	72	70
Identifiable assets	5,386				5,104				5,386	5,104	2,883
Operating Segments | Oral, Personal and Home Care | Asia Pacific
Segment Reporting Information [Line Items]
Net sales									2,701	2,707	2,734
Operating profit									773	749	777
Capital expenditures									51	40	75
Depreciation and amortization									95	100	103
Identifiable assets	2,272				2,155				2,272	2,155	2,148
Operating Segments | Oral, Personal and Home Care | Africa/Eurasia
Segment Reporting Information [Line Items]
Net sales									981	981	967
Operating profit									206	187	173
Capital expenditures									13	8	11
Depreciation and amortization									9	8	8
Identifiable assets	605				590				605	590	502
Operating Segments | Pet Nutrition
Segment Reporting Information [Line Items]
Net sales									2,883	2,525	2,388
Operating profit									793	703	680
Capital expenditures									56	41	35
Depreciation and amortization									58	55	53
Identifiable assets	1,210				1,175				1,210	1,175	1,033
Corporate
Segment Reporting Information [Line Items]
Operating profit									(502)	(654)	(602)
Capital expenditures									79	71	92
Depreciation and amortization									101	106	107
Identifiable assets	$ 64				$ 50				$ 64	$ 50	$ 60

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Jan. 01, 2019
Lessee, Lease, Description [Line Items]
Other assets	$ 521	$ 502
Operating lease, liability	613	636
Operating lease, payments	193	202
Right-of-use asset obtained in exchange for operating lease liability	$ 163	$ 232
Operating lease, weighted average remaining lease term	8 years	8 years
Operating lease, weighted average discount rate	4.20%	4.10%
Accounting Standards Update 2016-02
Lessee, Lease, Description [Line Items]
Other assets			$ 458
Operating lease, liability			$ 574

Leases - Balance Sheet (Details

Leases - Balance Sheet (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Other assets	$ 521	$ 502
Other accruals	137	145
Other liabilities	476	491
Total operating lease liabilities	$ 613	$ 636
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	us-gaap:OtherAssets
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:OtherAccruedLiabilitiesCurrent
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilitiesNoncurrent

Leases - Schedule of Minimum Le

Leases - Schedule of Minimum Lease Commitments (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
2021	$ 157
2022	133
2023	89
2024	58
2025	46
Thereafter	232
Total lease commitments	715
Less: Interest	(102)
Present value of lease liabilities	$ 613	$ 636

Leases - Schedule of Lease Cost

Leases - Schedule of Lease Cost (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating lease cost	$ 155	$ 169
Short-term lease cost	3	5
Variable lease cost	20	30
Total lease cost	$ 178	$ 204

Supplemental Income Statement_3

Supplemental Income Statement Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Other (income) expense, net
Total Global Growth and Efficiency Program charges, pretax	$ (13)	$ 57	$ 88
Amortization of intangible assets	88	62	59
Equity income	(12)	(9)	(10)
Value-added tax matter in Brazil	0	(30)	0
Write-off of certain investments and fixed assets	0	51	1
Acquisition-related costs	2	21	0
Charges for a change in go-to-market strategy in certain countries	0	15	0
Other, net	48	29	10
Total Other (income) expense, net	113	196	148
Interest (income) expense, net
Interest incurred	184	193	195
Interest capitalized	(1)	(1)	(2)
Interest income	(19)	(47)	(50)
Total Interest (income) expense, net	164	145	143
Research and development	290	281	277
Advertising	$ 1,948	$ 1,694	$ 1,590

Supplemental Balance Sheet In_3

Supplemental Balance Sheet Information - Schedule of Inventories by Major Class (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Inventories
Raw materials and supplies	$ 454	$ 305
Work-in-process	45	49
Finished goods	1,256	1,056
Total Inventories, net	1,755	1,410
Non-current inventory, net	(82)	(10)
Current Inventories, net	$ 1,673	$ 1,400

Supplemental Balance Sheet In_4

Supplemental Balance Sheet Information - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Inventories valued under LIFO	$ 439	$ 303
Excess of current cost over LIFO cost	$ 65	$ 62

Supplemental Balance Sheet In_5

Supplemental Balance Sheet Information - Schedule of Property, Plant and Equipment (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Property, plant and equipment, net
Land	$ 166	$ 153
Buildings	1,623	1,600
Manufacturing machinery and equipment	5,409	5,309
Other equipment	1,553	1,518
Property, plant and equipment, gross	8,751	8,580
Accumulated depreciation	(5,035)	(4,830)
Property, plant and equipment, net	$ 3,716	$ 3,750

Supplemental Balance Sheet In_6

Supplemental Balance Sheet Information - Schedule of Other Accruals (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Other accruals
Accrued advertising and coupon redemption	$ 728	$ 525
Accrued payroll and employee benefits	401	340
Accrued taxes other than income taxes	116	104
Restructuring accrual	21	85
Pension and other retiree benefits	89	54
Other accruals	137	145
Accrued interest	39	43
Derivatives	93	16
Other	717	605
Other accruals	$ 2,341	$ 1,917

Supplemental Balance Sheet In_7

Supplemental Balance Sheet Information - Schedule of Other Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Other liabilities
Pension and other retiree benefits	$ 1,815	$ 1,728
Restructuring accrual	10	15
Long-Term Lease Liabilities	476	491
Other	354	364
Total Other liabilities	$ 2,655	$ 2,598

Supplemental Other Comprehens_3

Supplemental Other Comprehensive Income (Loss) Information - Schedule of Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total Other comprehensive income (loss), net of tax	$ (66)	$ (87)	$ (189)
Cumulative translation adjustments
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other comprehensive income (loss), Pretax	(119)	49	(233)
Total Other comprehensive income (loss), net of tax	(30)	27	(218)
Pension and other benefits
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other comprehensive income (loss), before reclassifications, Pretax	(125)	(204)	(21)
Reclassification from AOCI, Pretax	74	72	69
Other comprehensive income (loss), Pretax	(51)	(132)	48
Other comprehensive income (loss), before reclassifications, Net of Tax	(97)	(154)	(16)
Reclassification from AOCI, Net of Tax	57	54	54
Total Other comprehensive income (loss), net of tax	(40)	(100)	38
Cash flow hedges
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other comprehensive income (loss), before reclassifications, Pretax	(3)	(9)
Reclassification from AOCI, Pretax	0	(6)
Other comprehensive income (loss), Pretax	(3)	(15)
Other comprehensive income (loss), before reclassifications, Net of Tax	(2)	(7)
Reclassification from AOCI, Net of Tax	0	(5)
Total Other comprehensive income (loss), net of tax	(2)	(12)
Cash flow hedges
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other comprehensive income (loss), before reclassifications, Pretax			10
Reclassification from AOCI, Pretax			3
Other comprehensive income (loss), Pretax			13
Other comprehensive income (loss), before reclassifications, Net of Tax			8
Reclassification from AOCI, Net of Tax			2
Total Other comprehensive income (loss), net of tax			10
Accumulated Other Comprehensive Income (Loss)
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other comprehensive income (loss), Pretax	(173)	(98)	(172)
Total Other comprehensive income (loss), net of tax	$ (72)	$ (85)	$ (170)

Supplemental Other Comprehens_4

Supplemental Other Comprehensive Income (Loss) Information - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Equity [Abstract]
Unrecognized pension and other retiree benefit costs, aftertax	$ 1,178	$ 1,138
Foreign currency translation adjustments	$ 3,158	$ 3,128

Quarterly Financial Data (Una_3

Quarterly Financial Data (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended									12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2017	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Quarterly financial data (Unaudited) [Abstract]
Net sales	$ 4,324	$ 4,153	$ 3,897	$ 4,097	$ 4,015	$ 3,928	$ 3,866	$ 3,884		$ 16,471	$ 15,693	$ 15,544
Gross profit	2,643	2,540	2,369	2,465	2,414	2,316	2,308	2,287		10,017	9,325	9,231
Net income including noncontrolling interests	692	745	675	748	682	627	618	600		2,860	2,527	2,558
Net income attributable to Colgate-Palmolive Company	$ 647	$ 698	$ 635	$ 715	$ 643	$ 578	$ 586	$ 560		$ 2,695	$ 2,367	$ 2,400
Earnings per common share:
Basic EPS (in dollars per share)	$ 0.76	$ 0.81	$ 0.74	$ 0.83	$ 0.75	$ 0.67	$ 0.68	$ 0.65		$ 3.15	$ 2.76	$ 2.76
Diluted EPS (in dollars per share)	$ 0.75	$ 0.81	$ 0.74	$ 0.83	$ 0.75	$ 0.67	$ 0.68	$ 0.65		$ 3.14	$ 2.75	$ 2.75
Quarterly Financial Information Disclosure [Abstract]
Acquisition-related costs					$ 6
Restructuring and related cost, incurred cost, including noncontrolling interest, after tax				$ 4						$ 4	$ 20
Tax benefit										787	774	$ 906
Extinguishment of debt, gain (loss), net of tax	$ (18)									(18)
Restructuring and related charges (benefits)										(13)	57	88
Charge for U.S. tax reform						$ 14			$ 275	0	0	80
Subsidiaries
Quarterly Financial Information Disclosure [Abstract]
Tax benefit				(71)						(71)
Gross Profit
Quarterly Financial Information Disclosure [Abstract]
Acquisition-related costs				$ 4						4
BRAZIL
Quarterly Financial Information Disclosure [Abstract]
Benefit from foreign tax matter					20						20
SWITZERLAND
Quarterly Financial Information Disclosure [Abstract]
Benefit from foreign tax matter					29						29	15
Global Growth and Efficiency Program
Quarterly Financial Information Disclosure [Abstract]
Restructuring and related cost, incurred cost, including noncontrolling interest, after tax		$ 13								$ (13)
Restructuring and related charges (benefits)											132	161
Global Growth and Efficiency Program | Gross Profit
Quarterly Financial Information Disclosure [Abstract]
Acquisition-related costs					3						3
Restructuring and related cost, incurred cost, including noncontrolling interest, after tax					27	22	$ 31	$ 22			102
Restructuring and related charges (benefits)					$ (1)	$ 1	$ 3	$ 11			$ 8	$ 31

Schedule II - Valuation and Q_2

Schedule II - Valuation and Qualifying Accounts (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Allowance for doubtful accounts and estimated returns
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Beginning balance of valuation allowance and reserves	$ 76	$ 82	$ 77
Charged to Costs and Expenses, additions	16	6	15
Other, additions	0	0	0
Deductions	3	12	10
Ending balance of valuation allowance and reserves	89	76	82
Valuation allowance for deferred tax assets
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Beginning balance of valuation allowance and reserves	59	54	9
Charged to Costs and Expenses, additions	1	12	45
Other, additions	0	0	0
Deductions	49	7	0
Ending balance of valuation allowance and reserves	$ 11	$ 59	$ 54