Colgate-Palmolive (CL) 10-K 15 Feb 24 2023 FY Annual report Financial data

Cover

Cover - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2023	Jan. 31, 2024	Jun. 30, 2023
Entity Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
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
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 63.6
Entity Common Stock, Shares Outstanding		823,150,919
Documents Incorporated by Reference	Documents Form 10-K Reference Portions of Proxy Statement for the 2024 Annual Meeting of Stockholders Part III, Items 10 through 14
Entity Central Index Key	0000021665
Document Fiscal Year Focus	2023
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
0.500% Notes due 2026
Entity Information [Line Items]
Title of 12(b) Security	0.500% Notes due 2026
Trading Symbol	CL26
Security Exchange Name	NYSE
0.300% Notes due 2029
Entity Information [Line Items]
Title of 12(b) Security	0.300% Notes due 2029
Trading Symbol	CL29
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

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2023
Audit Information [Abstract]
Auditor Name	PricewaterhouseCoopers LLP
Auditor Location	New York, New York
Auditor Firm ID	238

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
Net sales	$ 19,457	$ 17,967	$ 17,421
Cost of sales	8,131	7,719	7,046
Gross profit	11,326	10,248	10,375
Selling, general and administrative expenses	7,151	6,565	6,407
Other (income) expense, net	191	69	65
Goodwill and intangible assets impairment charges	0	721	571
Operating profit	3,984	2,893	3,332
Non-service related postretirement costs	360	80	70
Interest (income) expense, net	232	153	175
Income before income taxes	3,392	2,660	3,087
Provision for income taxes	937	693	749
Net income including noncontrolling interests	2,455	1,967	2,338
Less: Net income attributable to noncontrolling interests	155	182	172
Net income attributable to Colgate-Palmolive Company	$ 2,300	$ 1,785	$ 2,166
Earnings per common share, basic (in dollars per share)	$ 2.78	$ 2.13	$ 2.56
Earnings per common share, diluted (in dollars per share)	$ 2.77	$ 2.13	$ 2.55

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Net income including noncontrolling interests	$ 2,455	$ 1,967	$ 2,338
Other comprehensive income (loss), net of tax:
Cumulative translation adjustments	98	(146)	(193)
Retirement plan and other retiree benefit adjustments	(16)	413	134
Gains (losses) on cash flow hedges	(7)	60	16
Total Other comprehensive income (loss), net of tax	75	327	(43)
Total Comprehensive income including noncontrolling interests	2,530	2,294	2,295
Less: Net income attributable to noncontrolling interests	155	182	172
Less: Cumulative translation adjustments attributable to noncontrolling interests	(42)	(4)	(2)
Total Comprehensive income attributable to noncontrolling interests	113	178	170
Total Comprehensive income attributable to Colgate-Palmolive Company	$ 2,417	$ 2,116	$ 2,125

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Current Assets
Cash and cash equivalents	$ 966	$ 775
Receivables (net of allowances of $80 and $70, respectively)	1,586	1,504
Inventories	1,934	2,074
Other current assets	793	760
Total current assets	5,279	5,113
Property, plant and equipment, net	4,582	4,307
Goodwill	3,410	3,352
Other intangible assets, net	1,887	1,920
Deferred income taxes	214	135
Other assets	1,021	904
Total assets	16,393	15,731
Current Liabilities
Notes and loans payable	310	11
Current portion of long-term debt	20	14
Accounts payable	1,698	1,551
Accrued income taxes	336	317
Other accruals	2,377	2,111
Total current liabilities	4,741	4,004
Long-term debt	8,219	8,741
Deferred income taxes	361	383
Other liabilities	2,115	1,797
Total liabilities	15,436	14,925
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	3,808	3,546
Retained earnings	25,289	24,573
Accumulated other comprehensive income (loss)	(3,937)	(4,055)
Unearned compensation	0	(1)
Treasury stock, at cost	(26,017)	(25,128)
Total Colgate-Palmolive Company shareholders’ equity	609	401
Noncontrolling interests	348	405
Total equity	957	806
Total liabilities and equity	$ 16,393	$ 15,731

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Current Assets
Allowance for doubtful accounts receivable, current	$ 80	$ 70
Shareholders’ Equity
Common stock par value (in dollars 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, 2020			$ 1,466	$ 2,969	$ (1)	$ (23,045)	$ 23,699	$ (4,345)	$ 358
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		$ 2,338					2,166		172
Other comprehensive income (loss), net of tax		(43)						(41)	(2)
Dividends	[1]						(1,515)		(166)
Stock-based compensation expense				135					0
Shares issued for stock options				188		248
Shares issued for restricted stock awards				(27)		27
Treasury stock acquired						(1,320)
Other				4		1
Ending balance at Dec. 31, 2021			1,466	3,269	(1)	(24,089)	24,350	(4,386)	362
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		1,967					1,785		182
Other comprehensive income (loss), net of tax		327						331	(4)
Dividends	[1]						(1,562)		(135)
Stock-based compensation expense				125
Shares issued for stock options				190		226
Shares issued for restricted stock awards				(40)		40
Treasury stock acquired						(1,308)
Other				2		3
Ending balance at Dec. 31, 2022		806	1,466	3,546	(1)	(25,128)	24,573	(4,055)	405
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		2,455					2,300		155
Other comprehensive income (loss), net of tax		75						117	(42)
Dividends	[1]						(1,584)		(170)
Stock-based compensation expense				122
Shares issued for stock options				170		212
Shares issued for restricted stock awards				(34)		34
Treasury stock acquired						(1,128)
Other				4	1	(7)		1
Ending balance at Dec. 31, 2023		$ 957	$ 1,466	$ 3,808	$ 0	$ (26,017)	$ 25,289	$ (3,937)	$ 348
[1] * Two dividends were declared in each of the first quarters of 2023, 2022 and 2021.

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Shareholders' Equity (Parenthetical)	3 Months Ended			12 Months Ended
	Mar. 31, 2023 dividend	Mar. 31, 2022 dividend	Mar. 31, 2021 dividend	Dec. 31, 2023 $ / shares	Dec. 31, 2022 $ / shares	[1]	Dec. 31, 2021 $ / shares	[1]
Statement of Stockholders' Equity [Abstract]
Dividends declared per common share (in dollars per share) | $ / shares				$ 1.91	$ 1.86		$ 1.79
Number of dividends declared per quarter | dividend	2	2	2
[1] * Two dividends were declared in each of the first quarters of 2023, 2022 and 2021.

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Operating Activities
Net income including noncontrolling interests		$ 2,455	$ 1,967	$ 2,338
Adjustments to reconcile net income including noncontrolling interests to net cash provided by operations:
Depreciation and amortization		567	545	556
ERISA litigation matter		267	0	0
Restructuring and termination benefits, net of cash		(23)	49	(21)
Stock-based compensation expense		122	125	135
Gain on the sale of land		0	(47)	0
Goodwill and intangible assets impairment charges		0	721	571
Loss on early extinguishment of debt		0	0	75
Deferred income taxes		(98)	(78)	(132)
Cash effects of changes in:
Receivables		(37)	(227)	(84)
Inventories		194	(333)	(72)
Accounts payable and other accruals		309	(115)	14
Other non-current assets and liabilities		(11)	(51)	(55)
Net cash provided by operations		3,745	2,556	3,325
Investing Activities
Capital expenditures		(705)	(696)	(567)
Purchases of marketable securities and investments		(506)	(470)	(141)
Proceeds from sale of marketable securities and investments		502	322	141
Payment for acquisitions, net of cash acquired		0	(809)	0
Proceeds from the sale of land		0	47	0
Other investing activities		(33)	5	(25)
Net cash used in investing activities		(742)	(1,601)	(592)
Financing Activities
Short-term borrowing (repayment) less than 90 days, net		(906)	540	(171)
Principal payments on debt	[1]	(903)	(406)	(703)
Proceeds from issuance of debt		1,495	1,513	699
Dividends paid		(1,749)	(1,691)	(1,679)
Purchases of treasury shares		(1,128)	(1,308)	(1,320)
Proceeds from exercise of stock options		380	418	424
Other financing activities		18	(18)	(24)
Net cash used in financing activities		(2,793)	(952)	(2,774)
Effect of exchange rate changes on Cash and cash equivalents		(19)	(60)	(15)
Net increase (decrease) in Cash and cash equivalents		191	(57)	(56)
Cash and cash equivalents at beginning of year		775	832	888
Cash and cash equivalents at end of year		966	775	832
Supplemental Cash Flow Information
Income taxes paid		937	945	890
Interest paid		$ 280	$ 151	$ 194
[1] (1) For the years ended December 31, 2023, 2022 and 2021, Principal payments on debt includes cash charges of $0 and $0 and $75, respectively, 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) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Cash Flows [Abstract]
Cash charges for extinguishment of debt prior to maturity	$ 0	$ 0	$ 75

Nature of Operations

Nature of Operations	12 Months Ended
	Dec. 31, 2023
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, distributors, dentists and, in some segments, skin health professionals. 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. Some of our products are also sold direct-to-consumer. Principal global and regional trademarks include Colgate, Palmolive, Darlie, 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: 2023 2022 2021 Oral Care 42 % 43 % 44 % Personal Care 19 % 19 % 20 % Home Care 17 % 17 % 17 % Pet Nutrition 22 % 21 % 19 % Total 100 % 100 % 100 %

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2023
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, 2023 and 2022, equity method investments included in Other assets in the Consolidated Balance Sheets were $83 and $70, 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 and 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 (also referred to as logistics costs) are classified as Selling, general and administrative expenses and were $1,771, $1,874 and $1,687 for the years ended December 31, 2023, 2022 and 2021, 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 the 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. 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 December 2023, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures.” This ASU improves the transparency of income tax disclosure by requiring consistent categories and greater disaggregation of information in the rate reconciliation, and income taxes paid disaggregated by jurisdiction. This guidance is effective for the Company for fiscal years beginning after December 15, 2024. We are currently assessing the impact of this guidance on our disclosures. In December 2023, the FASB issued ASU No. 2023-08, “Intangibles—Goodwill and Other—Crypto Assets (Subtopic 350-60): Accounting for and Disclosure of Crypto Assets.” This ASU improves the accounting for certain crypto assets by requiring companies to measure them at fair value for each reporting period with changes in fair value recognized in net income. This guidance is effective for the Company for fiscal years beginning after December 15, 2024 and is not expected to have an impact on the Company’s Consolidated Financial Statements. In November 2023, the FASB issued ASU No. 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures.” This ASU modified the disclosure and presentation requirements primarily through enhanced disclosures of significant segment expenses and other segment items. This guidance is effective for the Company for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. We are currently assessing the impact of this guidance on our disclosures. In October 2023, the FASB issued ASU No. 2023-06, “Disclosure Improvements-Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative.” This ASU modified the disclosure and presentation requirements of a variety of codification topics by aligning them with the SEC’s regulations. This guidance is effective for the Company no later than June 30, 2027 and is not expected to have a material impact on the Company’s Consolidated Financial Statements. In August 2023, the FASB issued ASU No. 2023-05, “Business Combinations-Joint Venture Formations (Subtopic 805-60): Recognition and Initial Measurement.” This ASU requires a joint venture to initially measure all contributions received upon its formation at fair value. This guidance is applicable to joint ventures with a formation date on or after January 1, 2025 and is not expected to have a material impact on the Company’s Consolidated Financial Statements. In March 2023, the FASB issued ASU No. 2023-01, “Leases (Topic 842): Common Control Arrangements.” This ASU clarified the accounting for leasehold improvements for leases under common control. The guidance is effective for the Company beginning on January 1, 2024 and is not expected to have a material impact on the Company’s Consolidated Financial Statements. In September 2022, the FASB issued ASU No. 2022-04, “Liabilities-Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations.” This ASU requires a buyer that uses supplier finance programs to make annual disclosures about the programs’ key terms, the balance sheet presentation of related amounts, the confirmed amount outstanding at the end of the period and associated roll-forward information. The Company adopted the guidance beginning on January 1, 2023, except for the roll-forward information, which is effective for the Company beginning on January 1, 2024. See Note 16, Supplier Finance Programs to the Consolidated Financial Statements for additional information. In March 2022, the FASB issued ASU No. 2022-02, “Financial Instruments-Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures.” This ASU eliminates the accounting guidance for troubled debt restructurings by creditors while enhancing disclosure requirements for certain loan refinancing and restructurings by creditors made to borrowers experiencing financial difficulty. The amendments also require disclosure of current-period gross write-offs by year of origination for financing receivables. This guidance was effective for the Company beginning on January 1, 2023 and did not have a material impact on the Company’s Consolidated Financial Statements. In March 2022, the FASB issued ASU No. 2022-01, “Derivatives and Hedging (Topic 815): Fair Value Hedging-Portfolio Layer Method.” This ASU clarifies the accounting and promotes consistency in reporting for hedges where the portfolio layer method is applied. This guidance was effective for the Company beginning on January 1, 2023 and did not have an impact on the Company’s Consolidated Financial Statements. In October 2021, the FASB issued ASU No. 2021-08, “Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers.” This ASU requires contract assets and contract liabilities acquired in a business combination to be recognized and measured by the acquirer on the acquisition date in accordance with ASU No. 2016-10, “Revenue from Contracts with Customers (Topic 606).” This guidance was effective for the Company beginning on January 1, 2023 and did not have a material impact on the Company’s Consolidated Financial Statements. Reclassifications

Acquisitions

Acquisitions	12 Months Ended
	Dec. 31, 2023
Business Combination and Asset Acquisition [Abstract]
Acquisitions	Acquisitions Red Collar Pet Foods On September 30, 2022, the Company acquired a business that operates three dry pet food manufacturing plants in the United States from Red Collar Pet Foods Holdings, Inc. and Red Collar Pet Foods Holdings, L.P. (collectively, “Red Collar Pet Foods”) for cash consideration of $719 to further support the global growth of its Hill’s Pet Nutrition business. The acquisition was financed with a combination of debt and cash and was accounted for as a business combination in accordance with ASC 805. During the fourth quarter of 2022, the Company finalized its purchase price allocation and the final purchase price of $719 was allocated to the net assets acquired based on their respective fair values as follows: Inventories $ 33 Property, plant and equipment 362 Goodwill 413 Current liabilities (5) Intangible liability (16) Deferred income taxes (68) Fair value of net assets acquired $ 719 Goodwill of $413 was allocated to the Pet Nutrition segment. Goodwill will not 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. Nutriamo S.r.l.

Restructuring and Related Imple

Restructuring and Related Implementation Charges	12 Months Ended
	Dec. 31, 2023
Restructuring and Related Activities [Abstract]
Restructuring and Related Implementation Charges	Restructuring and Related Implementation Charges On January 27, 2022, the Board approved a targeted productivity program (the “2022 Global Productivity Initiative”). The program is intended to reallocate resources towards the Company’s strategic priorities and faster growth businesses, drive efficiencies in the Company’s operations and streamline the Company’s supply chain to reduce structural costs. Implementation of the 2022 Global Productivity Initiative, which is expected to be substantially completed by mid-year 2024, is estimated to result in cumulative pre-tax charges, once all phases are approved and implemented, in the range of $200 to $240 ($170 to $200 aftertax), which is currently estimated to be comprised of the following: employee-related costs, including severance, pension and other termination benefits (80%); asset-related costs, primarily accelerated depreciation and asset write-downs (10%); and other charges (10%), which include contract termination costs, consisting primarily of implementation-related charges resulting directly from exit activities and the implementation of new strategies. It is estimated that approximately 80% to 90% of the charges will result in cash expenditures. It is expected that the cumulative pretax charges, once all projects are approved and implemented, will relate to initiatives undertaken in North America (5%), Latin America (10%), Europe (45%), Asia Pacific (5%), Africa/Eurasia (10%), Hill’s Pet Nutrition (10%) and Corporate (15%). For the twelve months ended December 31, 2023, charges resulting from the 2022 Global Productivity Initiative are reflected in the income statement as follows: Twelve Months Ended December 31, 2023 2022 Gross Profit $ 1 $ — Selling, general and administrative expenses 2 5 Other (income) expense, net 24 90 Non-service related postretirement costs 5 15 Total 2022 Global Productivity Initiative charges, pretax $ 32 $ 110 Total 2022 Global Productivity Initiative charges, aftertax $ 25 $ 87 Restructuring and related implementation charges in the preceding table are recorded in the Corporate segment as these initiatives are predominantly centrally directed and controlled and are not included in internal measures of segment operating performance. Total charges incurred for the 2022 Global Productivity Initiative relate to initiatives undertaken by the following reportable operating segments: Twelve Months Ended December 31, Program-to-date 2023 2022 North America 15 % 11 % 12 % Latin America — % 18 % 14 % Europe 19 % 19 % 19 % Asia Pacific 20 % 8 % 11 % Africa/Eurasia 5 % 11 % 9 % Hill's Pet Nutrition 23 % 11 % 14 % Corporate 18 % 22 % 21 % Total 100 % 100 % 100 % Since the inception of the 2022 Global Productivity Initiative, the Company has incurred cumulative pretax charges of $142 ($112 aftertax) in connection with the implementation of various projects as follows: Cumulative Charges as of December 31, 2023 Employee-Related Costs $ 126 Incremental Depreciation — Asset Impairments 1 Other 15 Total $ 142 The following table summarizes the activity for the restructuring and related implementation charges discussed above and the related accruals: Twelve Months Ended December 31, Employee-Related Incremental Asset Other Total Balance at December 31, 2021 $ — $ — $ — $ — $ — Charges 102 — 1 7 110 Cash Payments (53) — — (4) (57) Charges against assets (15) — — — (15) Foreign exchange (4) — — — (4) Balance at December 31, 2022 $ 30 $ — $ 1 $ 3 $ 34 Charges 24 — — 8 32 Cash Payments (45) — — (10) (55) Charges against assets (5) — (1) — (6) Foreign exchange 6 — — — 6 Balance at December 31, 2023 $ 10 $ — $ — $ 1 $ 11 Employee-Related Costs primarily include severance and other termination benefits and are calculated based on long-standing benefit practices, written severance policies, local statutory requirements and, in certain cases, voluntary termination arrangements. Employee-Related Costs also include pension enhancements of $5 for the twelve months ended December 31, 2023, and $15 for the twelve months ended December 31, 2022, which are reflected as Charges against assets within Employee-Related Costs in the preceding tables as the corresponding balance sheet amounts are reflected as a reduction of pension assets or an increase in pension liabilities.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	12 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets The changes in net carrying value of Goodwill by segment for the years ended December 31, 2023 and 2022 were as follows: 2022 Beginning Balance Acquisitions (1) Impairments Foreign currency translation Ending Balance Oral, Personal and Home Care North America $ 912 $ — $ — $ (6) $ 906 Latin America 159 — — 9 168 Europe 1,902 — (332) (66) 1,504 Asia Pacific 182 — — (3) 179 Africa/Eurasia 114 — — (7) 107 Total Oral, Personal and Home Care 3,269 — (332) (73) 2,864 Pet Nutrition 15 474 — (1) 488 Total Goodwill $ 3,284 $ 474 $ (332) $ (74) $ 3,352 2023 Beginning Balance Acquisitions Impairments Foreign currency translation Ending Balance Oral, Personal and Home Care North America $ 906 $ — $ — $ 2 $ 908 Latin America 168 — — 11 179 Europe 1,504 — — 67 1,571 Asia Pacific 179 — — — 179 Africa/Eurasia 107 — — (19) 88 Total Oral, Personal and Home Care 2,864 — — 61 2,925 Pet Nutrition 488 — — (3) 485 Total Goodwill $ 3,352 $ — $ — $ 58 $ 3,410 (1) For information related to the Company's acquisitions, refer to Note 3, Acquisitions Other intangible assets as of December 31, 2023 and 2022 were comprised of the following: 2023 2022 Gross Carrying Amount Accumulated Amortization Net Gross Carrying Amount Accumulated Amortization Net Trademarks - finite life $ 1,167 $ (519) $ 648 $ 885 $ (471) $ 414 Other finite life intangible assets 624 (363) 261 616 (322) 294 Indefinite life intangible assets 978 — 978 1,212 — 1,212 Total Other intangible assets $ 2,769 $ (882) $ 1,887 $ 2,713 $ (793) $ 1,920 The change in the net carrying amounts of Other intangible assets during 2023 was due to foreign currency translation and amortization expense of $72. Annual estimated amortization expense for each of the next five years is expected to be approximately $72. In 2023, the Company re-characterized a certain trademark from an indefinite to a finite life intangible asset based on an assessment of certain macroeconomic conditions, historical performance and demand. The carrying value of this trademark as of December 31, 2023 is $260 and is being amortized over its estimated remaining useful life of 25 years. As of the date of the annual goodwill impairment test, the fair value of the Filorga reporting unit in the Europe segment approximates its carrying value. The carrying value of goodwill associated with this reporting unit is $221 as of December 31, 2023. The estimated fair value of the Company’s remaining reporting units substantially exceeds their carrying value. As of the date of the annual impairment test of indefinite-lived intangible assets, the fair value of one of the Company’s indefinite-lived trademark intangible assets approximates its carrying value. The carrying value of this trademark is $312 as of December 31, 2023. Given the inherent uncertainties of estimating the future impacts of interest rates and inflation on macroeconomic conditions, actual results may differ from management's current estimates which could potentially result in additional impairment charges in future periods. In the fourth quarter of 2022, the Company made revisions to the internal forecasts relating to its Filorga reporting unit due primarily to the continued impact of the COVID-19 pandemic, particularly in China, as a result of government restrictions and reduced consumer mobility, which negatively impacted consumption in the duty-free, travel retail and pharmacy channels. The Company concluded that the changes in circumstances in this reporting unit and the impact of significantly higher interest rates triggered the need for an interim impairment review of its indefinite-lived trademark, goodwill, and long-lived assets which consists primarily of customer relationships. As a result of the interim impairment test, the Company concluded that the carrying value of the trademark and customer relationships exceeded their estimated fair value, and recorded impairment charges of $300 and $89, respectively, reducing their carrying values to $257 and $118, respectively, as of December 31, 2022. After adjusting the carrying values of the trademark and customer relationship intangible assets, the Company completed a quantitative impairment test for goodwill and recorded a goodwill impairment charge of $332 in the Filorga reporting unit, reducing the carrying value of goodwill to $214 as of December 31, 2022. The goodwill and intangible assets impairment charges are presented as a separate line item in the Consolidated Statements of Income. The Company used the income approach to determine the fair value of the Filorga reporting unit, indefinite-lived trademark and customer relationships that required significant judgments and estimates by management regarding several key inputs, including future cash flows consistent with management’s plans, sales growth rates, customer attrition rate, and the selection of a royalty rate 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.

Long-Term Debt and Credit Facil

Long-Term Debt and Credit Facilities	12 Months Ended
	Dec. 31, 2023
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 2023 2022 Notes 3.1% 2024 - 2078 $ 7,580 $ 6,933 Commercial paper 4.0% 2024 606 1,778 Finance Lease Obligations Various 53 44 8,239 8,755 Less: Current portion of long-term debt (20) (14) Total $ 8,219 $ 8,741 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 commercial paper, scheduled maturities of long-term debt and finance leases outstanding as of December 31, 2023, were as follows: Years Ended December 31, 2024 $ 521 2025 643 2026 1,060 2027 503 2028 616 Thereafter 4,290 The Company has entered into 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. In March 2023, the Company issued $500 of three-year Senior Notes at a fixed coupon rate of 4.800%, $500 of five-year Senior Notes at a fixed coupon rate of 4.600% and $500 of ten-year Senior Notes at a fixed coupon rate of 4.600%. In August 2022, the Company issued $500 of three-year Senior Notes at a fixed coupon rate of 3.100%, $500 of five-year Senior Notes at a fixed coupon rate of 3.100% and $500 of ten-year Senior Notes at a fixed coupon rate of 3.250%. At December 31, 2023, the Company had access to unused domestic and foreign lines of credit of $3,574 (including under the facility discussed below) and could also issue long-term debt pursuant to an effective shelf registration statement. In November 2022, the Company entered into an amended and restated $3,000 five-year revolving credit facility with a syndicate of banks for a five-year term expiring November 2027, which replaced, on substantially similar terms, the Company’s $3,000 revolving credit facility that was scheduled to expire in August 2026. In November 2023, the Company extended the term of the credit facility for an additional year, expiring in November 2028. Commitment fees related to the credit facility 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, 2023
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 resins, essential oils, tropical oils, pulp, 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, 2023 and 2022: Assets Liabilities Account Fair Value Account Fair Value Designated derivative instruments December 31, 2023 December 31, 2022 December 31, 2023 December 31, 2022 Foreign currency contracts Other current assets 19 19 Other accruals 25 15 Commodity contracts Other current assets — 4 Other accruals 1 — Total designated $ 19 $ 23 $ 26 $ 15 Other financial instruments Marketable securities Other current assets 179 175 Total other financial instruments $ 179 $ 175 The carrying amount of cash, cash equivalents, accounts receivable and short-term debt approximated fair value as of December 31, 2023 and 2022. The estimated fair value of the Company’s long-term debt, including the current portion, as of December 31, 2023 and 2022, was $7,862 and $8,184, respectively, and the related carrying value was $8,239 and $8,755, 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 tables present the notional values as of: December 31, 2023 Foreign Foreign Currency Debt Commodity Contracts Fair Value Hedges $ 1,625 $ — $ — $ 1,625 Cash Flow Hedges 869 — 39 908 Net Investment Hedges 280 3,908 — 4,188 December 31, 2022 Foreign Foreign Currency Debt Commodity Contracts Fair Value Hedges $ 609 $ — $ — $ 609 Cash Flow Hedges 840 — 26 866 Net Investment Hedges 138 4,797 — 4,935 The following table presents the location and amount of gain (loss) on fair value hedges recognized in the Company’s Consolidated Statements of Income: Gain (Loss) Recognized in Income Location of Gain (Loss) Recognized in Income Twelve Months Ended December 31, Hedging instruments: 2023 2022 Interest rate swaps Interest (income) expense, net $ — $ (5) Foreign currency contracts Selling, general and administrative expenses 29 44 Total gain (loss) on fair value hedges $ 29 $ 39 The following tables present the amount of gain (loss) on cash flow hedges recognized in the Company’s Accumulated Other Comprehensive Income (AOCI) and location and amount of gain (loss) on reclassification from AOCI into Consolidated Statements of Income: Gain (Loss) Recognized in AOCI Gain (Loss) Reclassified from AOCI Into Income Twelve Months Ended December 31, Location of Gain (Loss) Recognized in Income Twelve Months Ended December 31, 2023 2022 2023 2022 Hedging instruments: Foreign currency contracts $ (13) $ 9 Cost of Sales $ (3) $ 13 Commodity contracts (3) 9 Cost of Sales (1) 5 Forward Starting Swaps 10 82 Interest (income) expense, net 8 2 Total gain (loss) on cash flow hedges $ (6) $ 100 $ 4 $ 20 The following table presents the amount of gain (loss) on net investment hedges recognized in the Company’s AOCI: Gain (Loss) Recognized in AOCI Twelve Months Ended December 31, Hedging instruments: 2023 2022 Foreign currency contracts $ (34) $ (5) Foreign currency debt (124) 218 Total gain (loss) on net investment hedges $ (158) $ 213

Capital Stock and Stock-Based C

Capital Stock and Stock-Based Compensation Plans	12 Months Ended
	Dec. 31, 2023
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 March 10, 2022, 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 “2022 Program”), which replaced a previously authorized share repurchase program. 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 $1,128 during 2023. 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, 2021 849,893,601 615,812,759 Common stock acquired (16,518,163) 16,518,163 Shares issued for stock options 6,357,793 (6,357,793) Shares issued for restricted stock units and other 747,053 (747,053) Balance, December 31, 2021 840,480,284 625,226,076 Common stock acquired (17,060,788) 17,060,788 Shares issued for stock options 5,654,692 (5,654,692) Shares issued for restricted stock units and other 1,138,418 (1,138,418) Balance, December 31, 2022 830,212,606 635,493,754 Common stock acquired (14,735,909) 14,735,909 Shares issued for stock options 5,318,430 (5,318,430) Shares issued for restricted stock units and other 617,642 (617,642) Balance, December 31, 2023 821,412,769 644,293,591 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 price, is amortized ratably 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 $122, $125 and $135 for the years ended December 31, 2023, 2022 and 2021, respectively. The total income tax benefit recognized on stock-based compensation, excluding excess tax benefits, was approximately $22, $25 and $25 for the years ended December 31, 2023, 2022 and 2021, 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 fair value assumptions are summarized in the following table: 2023 2022 2021 Expected term of options 6 years 6 years 6 years Expected volatility rate 19.8 % 21.1 % 20.3 % Risk-free interest rate 4.3 % 3.0 % 1.0 % Expected dividend yield 2.5 % 2.4 % 2.3 % Weighted-average estimated fair value $ 14.89 $ 14.71 $ 11.11 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. 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, 2023, approximately 19,950,841 shares of common stock were available for future stock option grants. A summary of stock option activity during 2023 is presented below: Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life Intrinsic Value of Unexercised Options outstanding, January 1, 2023 24,431 $ 75 Granted 2,310 73 Exercised (5,318) 72 Forfeited (174) 77 Expired (507) 74 Options outstanding, December 31, 2023 20,742 75 5 $ 97 Options exercisable, December 31, 2023 14,608 $ 75 4 $ 74 As of December 31, 2023, there was $24 of total unrecognized compensation expense related to unvested stock options, which will be recognized over a weighted-average period of 1.4 years. The total intrinsic value of options exercised during the years ended December 31, 2023, 2022 and 2021 was $28 , $47 and $83, 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, 2023, 2022 and 2021 were $4, $2 and $9, 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, 2023, 2022 and 2021 were $380 , $418 and $424, respectively. Performance-based Restricted Stock Units Under the Company’s long-term incentive compensation program, the Company grants 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, 2023 is presented below: Shares Weighted Average Grant Date Fair Value Per Award Performance-based restricted stock units as of January 1, 2023 1,026 $ 70 Activity: Granted 393 67 Vested (234) 71 Forfeited (97) 74 Change due to performance and/or market condition achievement (19) 77 Performance-based restricted stock units as of December 31, 2023 1,069 $ 68 As of December 31, 2023, there was $26 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. Awards either vest at the end of the restriction period, which is generally three years from the date of grant, or ratably over the restriction period. As of December 31, 2023, approximately 8,571,208 shares of common stock were available for future restricted stock unit awards. A summary of restricted stock unit activity during 2023 is presented below: Shares Weighted Average Grant Date Fair Value Per Award Restricted stock units as of January 1, 2023 1,860 $ 77 Activity: Granted 979 73 Vested (594) 77 Forfeited (71) 76 Restricted stock units as of December 31, 2023 2,174 $ 76 As of December 31, 2023, there was $60 of total unrecognized compensation expense related to unvested time-vested restricted stock unit awards, which will be recognized over a weighted-average period of 1.6 years. The total fair value of time-vested restricted stock units vested during the years ended December 31, 2023, 2022 and 2021 was $45, $40 and $47, respectively.

Employee Stock Ownership Plan

Employee Stock Ownership Plan	12 Months Ended
	Dec. 31, 2023
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, 2023 and 2022, there were 8,348,104 and 9,417,692 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, 2023, the ESOP had no outstanding borrowings from the Company. 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, (c) used for contributions to the Company’s defined contribution plans or (d) used to pay the Company’s defined contribution plan expenses. 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, 2023, 8,020,708 shares of common stock had been released and allocated to participant accounts and 327,396 shares of common stock were available for future release and 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 2023, 2022 and 2021. The Company paid dividends on the shares held by the ESOP of $17 in 2023, $19 in 2022 and $20 in 2021. The Company did not make any contributions to the ESOP in 2023, 2022 or 2021.

Retirement Plans and Other Reti

Retirement Plans and Other Retiree Benefits	12 Months Ended
	Dec. 31, 2023
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 first quarter of 2023, the Company recorded a charge of $267 as a result of a decision of the United States Court of Appeals for the Second Circuit (the “Second Circuit”) affirming a grant of summary judgment to the plaintiffs in a lawsuit under the Employee Retirement Income Security Act seeking the recalculation of benefits and other relief associated with a 2005 residual annuity amendment to the Colgate-Palmolive Company Employees’ Retirement Income Plan (the “Retirement Plan”). The decision resulted in an increase in the obligations of the Retirement Plan, which based on the current funded status of the Retirement Plan will require no immediate cash contribution by the Company. See Note 13, Commitments and Contingencies for additional information. During the third quarter of 2022, the Company amended its domestic postretirement plan to limit eligibility for certain existing employees, eliminate eligibility for other existing employees and change the way coverage and subsidies are delivered for certain current and future retirees. As required, the Company remeasured the obligation for the domestic postretirement plan, which resulted in the reduction of the projected benefit obligation and a corresponding actuarial gain of $398. The reduction of the projected benefit obligation and actuarial gain were primarily due to an increase in the discount rate since December 31, 2021 and the impact of the plan amendment. The actuarial gain was recorded in Accumulated other comprehensive income and will be amortized over future periods. 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 26 % 21 % Fixed income securities 60 % 63 % Other investments 14 % 16 % Total 100 % 100 % At December 31, 2023, 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 Cash and cash equivalents Level 1 $ 206 $ 14 U.S. common stocks Level 1 — 2 International common stocks Level 1 — 20 Pooled funds (1) Level 1 20 113 Fixed income securities (2) Level 2 710 71 Guaranteed investment contracts (3) Level 2 — 34 936 254 Investments valued using NAV per share (4) Domestic, developed and emerging markets equity funds 315 55 Fixed income funds (5) 99 219 Hedge funds (6) — 7 Multi-asset funds (7) 40 1 Real estate funds (8) — 30 454 312 Other assets and liabilities, net (9) (30) — Total Investments $ 1,360 $ 566 At December 31, 2022, 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 Cash and cash equivalents Level 1 $ 30 $ 8 U.S. common stocks Level 1 — 2 International common stocks Level 1 — 13 Pooled funds (1) Level 1 38 95 Fixed income securities (2) Level 2 676 62 Guaranteed investment contracts (3) Level 2 — 34 744 214 Investments valued using NAV per share (4) Domestic, developed and emerging markets equity funds 260 61 Fixed income funds (5) 337 202 Hedge funds (6) — 7 Multi-asset funds (7) 24 1 Real estate funds (8) — 31 621 302 Other assets and liabilities, net (9) (2) — Total Investments $ 1,363 $ 516 _______ (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 December 31, 2023, approximately 30% and, as of December 31, 2022, approximately 40% 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 interest receivables. Equity securities in the U.S. defined benefit retirement plans did not include any investment in the Company’s common stock at either December 31, 2023 or December 31, 2022. No shares of the Company’s stock were purchased by the U.S. plans in 2023 or 2022. The plans received no dividends on the Company’s common stock in either 2023 or 2022. Other Retiree Benefits The Company and certain of its subsidiaries provide, to the extent not otherwise provided by government-sponsored plans, health and life insurance benefits or subsidies for retired employees who meet applicable eligibility requirements. 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 2023 2022 2023 2022 2023 2022 United States International Change in Benefit Obligations Benefit obligations at beginning of year $ 1,673 $ 2,207 $ 675 $ 937 $ 658 $ 1,080 Service cost — — 15 15 7 18 Interest cost 91 64 33 21 38 36 Participants’ contributions — — 5 5 — — Plan amendments — — — 2 (33) (175) Actuarial loss (gain) 36 (430) 65 (190) 38 (250) Foreign exchange impact — — 29 (56) 4 2 Termination benefits 3 14 2 — — 1 Curtailments and settlements — (4) (6) (27) — — Benefit payments (148) (178) (42) (32) (47) (54) ERISA litigation matter 267 — — — — — Benefit obligations at end of year $ 1,922 $ 1,673 $ 776 $ 675 $ 665 $ 658 Change in Plan Assets Fair value of plan assets at beginning of year $ 1,363 $ 1,834 $ 516 $ 723 $ — $ — Actual return on plan assets 115 (321) 26 (139) — — Company contributions 30 32 39 35 47 54 Participants’ contributions — — 5 5 — — Foreign exchange impact — — 27 (49) — — Settlements and acquisitions — (4) (5) (27) — — Benefit payments (148) (178) (42) (32) (47) (54) Fair value of plan assets at end of year $ 1,360 $ 1,363 $ 566 $ 516 $ — $ — Funded Status Benefit obligations at end of year $ 1,922 $ 1,673 $ 776 $ 675 $ 665 $ 658 Fair value of plan assets at end of year 1,360 1,363 566 516 — — Net amount recognized $ (562) $ (310) $ (210) $ (159) $ (665) $ (658) Amounts Recognized in Balance Sheet Noncurrent assets $ 1 $ 33 $ 48 $ 51 $ — $ — Current liabilities (28) (25) (15) (14) (53) (43) Noncurrent liabilities (535) (318) (243) (196) (612) (615) Net amount recognized $ (562) $ (310) $ (210) $ (159) $ (665) $ (658) Amounts Recognized in Accumulated Other Comprehensive Income (Loss) Actuarial loss $ 767 $ 811 $ 177 $ 137 $ 128 $ 92 Transition/prior service cost(credit) — — 9 10 (180) (168) $ 767 $ 811 $ 186 $ 147 $ (52) $ (76) Accumulated benefit obligation $ 1,907 $ 1,656 $ 719 $ 616 $ — $ — Pension Plans Other Retiree Benefit Plans 2023 2022 2023 2022 2023 2022 United States International Weighted-Average Assumptions Used to Determine Benefit Obligations Discount rate 5.40 % 5.66 % 4.35 % 4.75 % 5.37 % 5.67 % Expected long-term rate of return on plan assets 6.50 % 6.25 % 4.66 % 4.66 % N/A N/A Long-term rate of compensation increase 3.50 % 3.50 % 3.19 % 3.22 % — % 3.50 % ESOP growth rate — % — % — % — % 6.00 % 6.00 % Medical cost trend rate of increase — % — % — % — % 6.00 % 6.25 % Interest Crediting Rate 4.99 % 5.21 % 1.13 % 2.28 % — % — % The actuarial losses recorded during 2023 for both the U.S. pension and Other retiree benefit plans were primarily a result of a decrease in discount rates applied against future estimated 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 2022 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 that resulted in a decrease in the benefit obligation for both the U.S. pension and Other retiree benefit plans, and amendment of the domestic postretirement plan to limit eligibility for certain existing employees, eliminate eligibility for other existing employees and change the way coverage and subsidies are delivered for certain current and future retirees. 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 for U.S. plans was 6.50% as of December 31, 2023 and 6.25% as of December 31, 2022. 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 10%, 5%, 4%, 6% and 5%, respectively. Similar assessments were performed in determining rates of return on international pension plan assets to arrive at the Company’s 2023 weighted-average expected long-term rate of return on plan assets of 4.66%. The medical cost trend rate of increase assumed in measuring the expected cost of benefits is projected to decrease from 6.00% in 2024 to 4.88% by 2028, remaining at 4.50% 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: 2023 2022 Benefit Obligation Exceeds Fair Value of Plan Assets Projected benefit obligation $ 2,352 $ 657 Fair value of plan assets 1,532 108 Accumulated benefit obligation 2,204 540 Fair value of plan assets 1,428 20 Other Retiree Benefit plans with accumulated postretirement benefit obligation in excess of plan assets as of December 31 consisted of the following: 2023 2022 Benefit Obligation Exceeds Fair Value of Plan Assets Accumulated postretirement benefit obligation $ 665 $ 658 Fair value of plan assets — — 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 2023 2022 2021 2023 2022 2021 2023 2022 2021 United States International Components of Net Periodic Benefit Cost Service cost $ — $ — $ — $ 15 $ 15 $ 19 $ 7 $ 18 $ 26 Interest cost 91 64 61 33 21 20 38 36 35 Expected return on plan assets (79) (101) (106) (25) (21) (20) — — — Amortization of transition and prior service costs (credits) — — — 1 1 1 (20) (6) — Amortization of actuarial loss 43 46 47 5 7 11 1 14 23 Net periodic benefit cost $ 55 $ 9 $ 2 $ 29 $ 23 $ 31 $ 26 $ 62 $ 84 Other postretirement charges 3 13 (3) 2 4 1 — 2 — ERISA litigation matter 267 — — — — — — — — Total pension cost $ 325 $ 22 $ (1) $ 31 $ 27 $ 32 $ 26 $ 64 $ 84 Weighted-Average Assumptions Used to Determine Net Periodic Benefit Cost Discount rate 5.66 % 2.98 % 2.65 % 4.75 % 2.10 % 1.61 % 5.67 % 3.06 % 2.88 % Expected long-term rate of return on plan assets 6.25 % 5.70 % 5.70 % 4.66 % 2.72 % 2.93 % N/A N/A 5.70 % Long-term rate of compensation increase 3.50 % 3.50 % 3.50 % 3.22 % 2.89 % 2.62 % — % — % — % ESOP growth rate — % — % — % — % — % — % 6.00 % 6.00 % 10.00 % Medical cost trend rate of increase — % — % — % — % — % — % 6.25 % 6.00 % 6.00 % Interest Crediting Rate 5.21 % 2.82 % 2.48 % 2.28 % 0.84 % 0.83 % — % — % — % 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 for the twelve months ended December 31, 2023 included pension and other charges of $5 incurred pursuant to the 2022 Global Productivity Initiative. The Company made no voluntary contributions in 2023, 2022, and 2021. Expected Contributions and Benefit Payments At present, the Company does not expect to make any voluntary contributions to its U.S. postretirement plans for the year ending December 31, 2024. Actual funding may differ from current estimates depending on the variability of the market value of the assets, changes in the benefit obligations 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 $98 for the year ending December 31, 2024. 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 2024 $ 384 $ 46 $ 53 $ 483 2025 142 41 54 237 2026 146 45 54 245 2027 144 44 54 242 2028 144 48 53 245 2029-2033 667 258 261 1,186

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The components of Income before income taxes are as follows for the years ended December 31: 2023 2022 2021 United States $ 692 $ 1,169 $ 1,256 International 2,700 1,491 1,831 Total Income before income taxes $ 3,392 $ 2,660 $ 3,087 The Provision for income taxes consists of the following for the years ended December 31: 2023 2022 2021 United States $ 72 $ 199 $ 228 International 865 494 521 Total Provision for income taxes $ 937 $ 693 $ 749 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: 2023 2022 2021 Goodwill and intangible assets $ 1 $ 106 $ 50 Property, plant and equipment (13) 2 (19) Pension and other retiree benefits 68 (1) (4) Stock-based compensation 2 (3) 11 Right-of-use assets/lease liabilities 1 (5) (2) Tax credits and tax loss carryforwards, net of valuation allowance 29 8 (2) Deferred withholding tax 7 8 (16) Research and Experimentation Capitalization 29 58 — Other, net 11 (10) 19 Total deferred tax benefit (provision) $ 135 $ 163 $ 37 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: 2023 2022 2021 Percentage of Income before income taxes Tax at United States statutory rate 21.0 % 21.0 % 21.0 % State income taxes, net of federal benefit (0.1) 0.8 1.1 Earnings taxed at other than United States statutory rate 5.4 5.4 2.7 Non-deductible goodwill impairment charges — 1.9 2.2 Foreign-derived intangible income benefit (2.4) (2.6) (2.2) Foreign tax matter 3.7 — — Other, net — (0.4) (0.5) Effective tax rate 27.6 % 26.1 % 24.3 % The components of deferred tax assets (liabilities) are as follows at December 31: 2023 2022 Deferred tax liabilities: Goodwill and intangible assets $ (412) $ (405) Property, plant and equipment (420) (375) Right-of-use assets (126) (118) Deferred withholding tax (96) (103) Other (34) (27) Total deferred tax liabilities (1,088) (1,028) Deferred tax assets: Pension and other retiree benefits 295 214 Tax credits and tax loss carryforwards 356 169 Lease liabilities 134 125 Accrued liabilities 221 218 Stock-based compensation 75 73 Research and Experimentation Capitalization 87 58 Other 60 52 Total deferred tax assets 1,228 909 Valuation Allowance $ (287) $ (129) Net deferred tax assets $ 941 $ 780 Net deferred income taxes $ (147) $ (248) 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 benefit of $19 and net tax expense of $164 and $146 were recorded directly through equity in 2023, 2022 and 2021 respectively. The net tax expense or benefit in each year predominantly includes current and future tax impacts related to benefit plans and the impact of currency translation adjustments. 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, 2023, 2022 and 2021 is summarized below: 2023 2022 2021 Unrecognized tax benefits: Balance, January 1 $ 298 $ 245 $ 227 Increases as a result of tax positions taken during the current year 73 32 26 Decreases of tax positions taken during prior years (61) (21) (20) Increases of tax positions taken during prior years 6 46 40 Decreases as a result of settlements with taxing authorities and the expiration of statutes of limitations (2) (2) (23) Effect of foreign currency rate movements — (2) (5) Balance, December 31 $ 314 $ 298 $ 245 If all of the unrecognized tax benefits for 2023 above were recognized, approximately $304 would impact the effective tax rate. It is reasonably possible that the amount of unrecognized benefits with respect to our uncertain tax positions could change in the next twelve months and such change may or may not be material. The Company recognized expense of approximately $10, $8 and $10 for interest and penalties related to the above unrecognized tax benefits within income tax expense in 2023, 2022 and 2021, respectively. The Company had accrued interest and penalties of approximately $45, $40 and $35 as of December 31, 2023, 2022 and 2021, respectively. In the third quarter of 2023, the Internal Revenue Service (the “IRS”) issued a notice giving taxpayers temporary relief from the effects of certain U.S. tax regulations that were issued in December 2021, which place greater restrictions on foreign taxes that are creditable against U.S. taxes on foreign-source income. This notice allowed taxpayers to defer the application of these new regulations through the end of 2023. In December 2023, the IRS issued further guidance modifying this temporary relief period to the date that a notice or other guidance withdrawing or modifying the temporary relief is issued. In the second quarter of 2023, the Company reassessed with its legal and tax advisers certain tax deductions taken in prior years by one of its subsidiaries and concluded that it is more likely than not that the deductions would not be sustained by the courts in that jurisdiction. The value of the tax deductions was not material to the Company in any year in which they were taken. The cumulative effect of the change in tax position of $148 was reflected as a discrete item in the second quarter’s income tax expense, partially offset by the reversal of certain prior years’ withholding tax reserves of $22 that are no longer required. The tax liability was paid in the quarter ended September 30, 2023. The current year impact of these changes is included in the Company’s full year effective income tax rate. The Company has ongoing federal, state and international income tax audits in various jurisdictions and evaluates uncertain tax positions that may be challenged by local tax authorities and not fully sustained. 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. One such matter relates to the IRS assessment of taxes on the Company by imputing income on certain activities within one of our international operations, which is also under audit for the years 2014 through 2018. There were U.S. Tax Court rulings during 2023 in favor of the IRS against unrelated third parties on similar matters. Despite the U.S. Tax Court rulings, the Company continues to believe that the tax assessment against the Company is without merit. While there can be no assurances, the Company believes this matter will ultimately be decided in favor of the Company. The amount of tax plus interest for the years 2010 through 2018 is estimated to be approximately $145, which is not included in the Company’s uncertain tax positions. On August 16, 2022, the Inflation Reduction Act of 2022 (“IRA”) was enacted, which among other things, implements a 15% minimum tax on book income of certain large corporations effective for years beginning after December 31, 2022. Based on the Company’s analysis, as well as recently published guidance by the IRS, the IRA, and in particular the 15% minimum tax, did not have an impact on the Company’s Consolidated Financial Statements. The Company will continue to evaluate the potential impact of this law as additional guidance and clarification becomes available. 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, 2023
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share For the years ended December 31, 2023, 2022 and 2021, earnings per share were as follows: 2023 2022 2021 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 $ 2,300 827.4 $ 2.78 $ 1,785 836.4 $ 2.13 $ 2,166 845.0 $ 2.56 Stock options and restricted stock units 1.8 2.4 3.3 Diluted EPS $ 2,300 829.2 $ 2.77 $ 1,785 838.8 $ 2.13 $ 2,166 848.3 $ 2.55 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. For the years ended December 31, 2023, 2022 and 2021, the average number of stock options that were anti-dilutive and not included in diluted earnings per share calculations were 13,719,286, 5,236,371 and 2,495,393, respectively. For the years ended December 31, 2023, 2022 and 2021, the average number of restricted stock units that were anti-dilutive and not included in diluted earnings per share calculations were 1,183, 155,118 and 126,378, respectively.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies As of December 31, 2023, the Company has various contractual commitments for future multi-year purchases of raw, packaging and other materials totaling approximately $757. 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 $300 (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 range 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 $133. 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, September 2018, April 2019 and August 2020, the Company lost an administrative appeal and subsequently challenged these assessments in the Brazilian federal courts. Currently, there are three lawsuits pending in the Lower Federal Court, and two cases have progressed to the Federal Court of Appeals. 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 $59, 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, 2023 of such competition law matters pending against the Company during the year ended December 31, 2023 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 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 and/or caused mesothelioma and other cancers. Many 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, 2023, there were 278 individual cases pending against the Company in state and federal courts throughout the United States, as compared to 227 cases as of December 31, 2022. During the year ended December 31, 2023, 169 new cases were filed and 118 cases were resolved by voluntary dismissal, settlement or dismissal by the court. The value of the settlements in periods presented was not material, either individually or in the aggregate, to such periods’ results of operations. A significant portion of the Company’s costs incurred in defending and resolving these claims has been, and the Company believes that a portion of the costs will continue to be, covered by insurance policies issued by several primary, excess and umbrella insurance carriers, subject to deductibles, exclusions, retentions, policy limits and insurance carrier insolvencies. 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. ERISA Matter In June 2016, a lawsuit was filed in the United States District Court for the Southern District of New York (the “District Court”) against the Retirement Plan, the Company and certain individuals (the “Company Defendants”) claiming that residual annuity payments associated with a 2005 residual annuity amendment to the Retirement Plan were improperly calculated for certain Retirement Plan participants in violation of the Employee Retirement Income Security Act (“ERISA”). The relief sought included 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 dismissed certain claims, and in August 2020 granted the plaintiffs' motion for summary judgment on the remaining claims. In September 2020, the Company appealed to the Second Circuit. In March 2023, the Second Circuit affirmed the grant of summary judgment to the plaintiffs. In light of the Second Circuit decision, the Company recorded a charge to earnings of $267 in the quarter ended March 31, 2023, which is comprised of the recalculation of benefits and interest. Possible additional charges associated with this matter are expected to be immaterial and, where estimable, are reflected in the range of reasonably possible losses disclosed above. The decision resulted in an increase in the obligations of the Retirement Plan, which based on the current funded status of the Retirement Plan will require no immediate cash contribution by the Company. In June 2023, the Company filed a petition for certiorari to the United States Supreme Court requesting permission for an appeal to that court and that petition was denied in October 2023. Also in June 2023, the plaintiffs filed a motion to enter a revised final judgment in the District Court to address certain unresolved calculation issues, which the Company opposed.

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2023
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 two-thirds 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 Walmart, Inc. and its affiliates represent approximately 11%, 11% and 12% of the Company’s Net sales in 2023, 2022 and 2021, respectively. No other customer represented more than 10% of Net sales in any period presented. In 2023, Corporate Operating profit Operating profit 2023 2022 2021 Net sales Oral, Personal and Home Care North America (1) $ 3,925 $ 3,816 $ 3,694 Latin America 4,640 3,982 3,663 Europe 2,737 2,548 2,841 Asia Pacific 2,782 2,826 2,867 Africa/Eurasia 1,083 1,082 1,045 Total Oral, Personal and Home Care 15,167 14,254 14,110 Pet Nutrition (2) 4,290 3,713 3,311 Total Net sales $ 19,457 $ 17,967 $ 17,421 _________ (1) Net sales in the U.S. for Oral, Personal and Home Care were $3,625, $3,511 and $3,391 in 2023, 2022 and 2021, respectively. (2) Net sales in the U.S. for Pet Nutrition were $2,918, $2,432 and $2,018 in 2023, 2022 and 2021, respectively. 2023 2022 2021 Operating profit Oral, Personal and Home Care North America $ 892 $ 761 $ 754 Latin America 1,417 1,108 1,012 Europe 552 514 682 Asia Pacific 767 737 844 Africa/Eurasia 254 228 203 Total Oral, Personal and Home Care 3,882 3,348 3,495 Pet Nutrition 806 850 901 Corporate (704) (1,305) (1,064) Total Operating profit $ 3,984 $ 2,893 $ 3,332 2023 2022 2021 Capital expenditures Oral, Personal and Home Care North America $ 46 $ 66 $ 87 Latin America 146 121 118 Europe 44 31 44 Asia Pacific 65 60 50 Africa/Eurasia 10 30 33 Total Oral, Personal and Home Care 311 308 332 Pet Nutrition 301 297 147 Corporate 93 91 88 Total Capital expenditures $ 705 $ 696 $ 567 2023 2022 2021 Depreciation and amortization Oral, Personal and Home Care North America $ 99 $ 106 $ 104 Latin America 98 93 88 Europe 82 90 98 Asia Pacific 84 89 96 Africa/Eurasia 9 9 9 Total Oral, Personal and Home Care 372 387 395 Pet Nutrition 101 65 62 Corporate 94 93 99 Total Depreciation and amortization $ 567 $ 545 $ 556 2023 2022 Identifiable assets Oral, Personal and Home Care North America $ 3,924 $ 4,012 Latin America 2,987 2,603 Europe 3,542 3,457 Asia Pacific 2,071 2,085 Africa/Eurasia 698 694 Total Oral, Personal and Home Care 13,222 12,851 Pet Nutrition 3,084 2,804 Corporate (1) 87 76 Total Identifiable assets $ 16,393 $ 15,731 ____________ (1) In 2023, Corporate identifiable assets primarily consisted of investments in equity securities (98%). In 2022, Corporate identifiable assets primarily consisted of investments in equity securities (95%). 2023 2022 Long-lived assets (1) United States $ 2,733 $ 2,569 International 2,340 2,216 Total Long-lived assets $ 5,073 $ 4,785 ____________ (1)

Leases

Leases	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Leases	Leases 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, 2023 and 2022. As of December 31, 2023 and 2022, the Company’s right-of use assets and liabilities for operating leases were as follows: 2023 2022 Other assets $ 491 $ 478 Other accruals 95 108 Other liabilities 420 397 Total operating lease liabilities $ 515 $ 505 Lease liabilities for operating leases as of December 31, 2023 were as follows: 2024 $ 117 2025 99 2026 79 2027 71 2028 57 Thereafter 199 Total lease commitments $ 622 Less: Interest (107) Present value of lease liabilities $ 515 The components of the Company’s operating lease cost for the twelve months ended December 31, 2023 and 2022 were as follows: 2023 2022 Operating lease cost $ 136 $ 138 Short-term lease cost 3 5 Variable lease cost 20 18 Sublease Income (2) (1) Total lease cost $ 157 $ 160 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, 2023 and 2022 was as follows: ▪ Payments against amounts included in the measurement of lease liabilities: $171 and $169, respectively ▪ Lease assets obtained in exchange for lease liabilities: $139 and $85, respectively. As of December 31, 2023 and 2022, the weighted-average remaining lease term for operating leases was 8 and 7 years, respectively, and the weighted-average discount rate for operating leases was 4.5% and 3.9%, respectively.

Supplier Finance Program

Supplier Finance Program	12 Months Ended
	Dec. 31, 2023
Other Liabilities Disclosure [Abstract]
Supplier Finance Program	Supplier Finance Program The Company has agreements to provide supplier finance programs which facilitate participating suppliers' ability to finance payment obligations of the Company with designated third-party financial institutions. Participating suppliers may, at their sole discretion, elect to finance one or more payment obligations of the Company prior to their scheduled due dates at a discounted price to participating financial institutions. The Company’s obligations to its suppliers, including amounts due and scheduled payment dates, are not impacted by suppliers’ decisions to finance amounts under these arrangements. The outstanding payment obligations under the Company’s supplier finance programs are included in Accounts Payable in the Consolidated Balance Sheets and were not material as of December 31, 2023 or 2022.

Supplemental Income Statement I

Supplemental Income Statement Information	12 Months Ended
	Dec. 31, 2023
Supplemental Income Statement Elements [Abstract]
Supplemental Income Statement Information	Supplemental Income Statement Information Other (income) expense, net 2023 2022 2021 Amortization of intangible assets $ 72 $ 80 $ 89 Equity income (17) (12) (12) 2022 Global Productivity Initiative 24 90 — Product recall costs 25 — — Losses (gains) from marketable securities and other assets 11 (22) (8) Indirect tax payments (refunds) 18 (14) (5) Gain on the sale of land in Asia Pacific — (47) — Acquisition-related costs — 19 — Value-added tax matter in Brazil — — (26) Other, net 58 (25) 27 Total Other (income) expense, net $ 191 $ 69 $ 65 Interest (income) expense, net 2023 2022 2021 Interest incurred $ 299 $ 172 $ 120 Interest capitalized (12) (5) (3) Interest income (55) (14) (17) Loss on early extinguishment of debt — — 75 Total Interest (income) expense, net $ 232 $ 153 $ 175 2023 2022 2021 Research and development $ 343 $ 320 $ 307 Advertising $ 2,371 $ 1,997 $ 2,021

Supplemental Balance Sheet Info

Supplemental Balance Sheet Information	12 Months Ended
	Dec. 31, 2023
Balance Sheet Related Disclosures [Abstract]
Supplemental Balance Sheet Information	Supplemental Balance Sheet Information Inventories by major class are as follows at December 31: Inventories 2023 2022 Raw materials and supplies $ 606 $ 666 Work-in-process 46 48 Finished goods 1,411 1,508 Total Inventories, net $ 2,063 $ 2,222 Non-current inventory, net (129) (148) Current Inventories, net $ 1,934 $ 2,074 Inventories valued under LIFO amounted to $471 and $458 at December 31, 2023 and 2022, respectively. The excess of current cost over LIFO cost at the end of each year was $120 and $146, respectively. The liquidations of LIFO inventory quantities had no material effect on income in 2023, 2022 and 2021. Inventory classified as non-current at December 31, 2023 was recorded on the Consolidated Balance Sheets as “Other assets.” Property, plant and equipment, net 2023 2022 Land $ 227 $ 180 Buildings 2,047 1,825 Manufacturing machinery and equipment 6,365 6,001 Other equipment 1,647 1,577 10,286 9,583 Accumulated depreciation (5,704) (5,276) Total Property, plant and equipment, net $ 4,582 $ 4,307 Other accruals 2023 2022 Accrued advertising and coupon redemption $ 882 $ 774 Accrued payroll and employee benefits 403 329 Accrued taxes other than income taxes 167 133 Restructuring accrual 11 39 Pension and other retiree benefits 96 82 Lease liabilities due in one year 95 108 Accrued interest 78 59 Derivatives 26 15 Other 619 572 Total Other accruals $ 2,377 $ 2,111 Other liabilities 2023 2022 Pension and other retiree benefits $ 1,390 $ 1,129 Long-term lease liabilities 420 397 Other 305 271 Total Other liabilities $ 2,115 $ 1,797

Supplemental Other Comprehensiv

Supplemental Other Comprehensive Income (Loss) Information	12 Months Ended
	Dec. 31, 2023
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: 2023 2022 2021 Cumulative translation adjustments, pre-tax $ 127 $ (113) $ (99) Tax amounts 13 (29) (92) Cumulative translation adjustments, net of tax 140 (142) (191) Pension and other benefits: Net actuarial gain (loss), prior service costs and settlements (49) 466 102 Amortization of net actuarial loss, transition and prior service costs (1) 30 62 82 Retirement Plan and other retiree benefit adjustments, pre-tax (19) 528 184 Tax amounts 3 (115) (50) Retirement Plan and other retiree benefit adjustments, net of tax (16) 413 134 Cash flow hedges: Unrealized gains (losses) on cash flow hedges (6) 100 13 Reclassification of (gains) losses into net earnings on cash flow hedges (2) (4) (20) 7 Gains (losses) on cash flow hedges, pre-tax (10) 80 20 Tax amounts 3 (20) (4) Gains (losses) on cash flow hedges net of tax (7) 60 16 Total Other comprehensive income (loss), net of tax $ 117 $ 331 $ (41) _________ (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) Accumulated other comprehensive income (loss) is comprised of cumulative foreign currency translation gains and losses, unrecognized pension and other retiree benefit costs and unrealized gains and losses from derivative instruments designated as cash flow hedges. At December 31, 2023 and 2022, Accumulated other comprehensive income (loss) consisted primarily of aftertax unrecognized pension and other retiree benefit costs of $647 and $631, respectively, and aftertax cumulative foreign currency translation adjustments of $3,351 and $3,491, respectively. Foreign currency translation adjustments in 2023 primarily reflect gains from the Euro, Mexican Peso and Brazilian Real. Foreign currency translation adjustments in 2022 primarily reflect losses from the Euro, Indian Rupee and Colombian Peso.

Schedule II - Valuation and Qua

Schedule II - Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2023
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, 2023 Allowance for doubtful accounts and estimated returns $ 70 $ 17 $ — $ 7 $ 80 Valuation allowance for deferred tax assets $ 129 $ 158 $ — $ — $ 287 Year Ended December 31, 2022 Allowance for doubtful accounts and estimated returns $ 78 $ 4 $ — $ 12 $ 70 Valuation allowance for deferred tax assets $ 120 $ 14 $ — $ 5 $ 129 Year Ended December 31, 2021 Allowance for doubtful accounts and estimated returns $ 89 $ 35 $ — $ 46 $ 78 Valuation allowance for deferred tax assets $ 96 $ 27 $ — $ 3 $ 120

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pay vs Performance Disclosure
Net Income (Loss)	$ 2,300	$ 1,785	$ 2,166

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation
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 and 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 (also referred to as logistics costs) are classified as Selling, general and administrative expenses and were $1,771, $1,874 and $1,687 for the years ended December 31, 2023, 2022 and 2021, 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 the 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. 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 December 2023, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures.” This ASU improves the transparency of income tax disclosure by requiring consistent categories and greater disaggregation of information in the rate reconciliation, and income taxes paid disaggregated by jurisdiction. This guidance is effective for the Company for fiscal years beginning after December 15, 2024. We are currently assessing the impact of this guidance on our disclosures. In December 2023, the FASB issued ASU No. 2023-08, “Intangibles—Goodwill and Other—Crypto Assets (Subtopic 350-60): Accounting for and Disclosure of Crypto Assets.” This ASU improves the accounting for certain crypto assets by requiring companies to measure them at fair value for each reporting period with changes in fair value recognized in net income. This guidance is effective for the Company for fiscal years beginning after December 15, 2024 and is not expected to have an impact on the Company’s Consolidated Financial Statements. In November 2023, the FASB issued ASU No. 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures.” This ASU modified the disclosure and presentation requirements primarily through enhanced disclosures of significant segment expenses and other segment items. This guidance is effective for the Company for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. We are currently assessing the impact of this guidance on our disclosures. In October 2023, the FASB issued ASU No. 2023-06, “Disclosure Improvements-Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative.” This ASU modified the disclosure and presentation requirements of a variety of codification topics by aligning them with the SEC’s regulations. This guidance is effective for the Company no later than June 30, 2027 and is not expected to have a material impact on the Company’s Consolidated Financial Statements. In August 2023, the FASB issued ASU No. 2023-05, “Business Combinations-Joint Venture Formations (Subtopic 805-60): Recognition and Initial Measurement.” This ASU requires a joint venture to initially measure all contributions received upon its formation at fair value. This guidance is applicable to joint ventures with a formation date on or after January 1, 2025 and is not expected to have a material impact on the Company’s Consolidated Financial Statements. In March 2023, the FASB issued ASU No. 2023-01, “Leases (Topic 842): Common Control Arrangements.” This ASU clarified the accounting for leasehold improvements for leases under common control. The guidance is effective for the Company beginning on January 1, 2024 and is not expected to have a material impact on the Company’s Consolidated Financial Statements. In September 2022, the FASB issued ASU No. 2022-04, “Liabilities-Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations.” This ASU requires a buyer that uses supplier finance programs to make annual disclosures about the programs’ key terms, the balance sheet presentation of related amounts, the confirmed amount outstanding at the end of the period and associated roll-forward information. The Company adopted the guidance beginning on January 1, 2023, except for the roll-forward information, which is effective for the Company beginning on January 1, 2024. See Note 16, Supplier Finance Programs to the Consolidated Financial Statements for additional information. In March 2022, the FASB issued ASU No. 2022-02, “Financial Instruments-Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures.” This ASU eliminates the accounting guidance for troubled debt restructurings by creditors while enhancing disclosure requirements for certain loan refinancing and restructurings by creditors made to borrowers experiencing financial difficulty. The amendments also require disclosure of current-period gross write-offs by year of origination for financing receivables. This guidance was effective for the Company beginning on January 1, 2023 and did not have a material impact on the Company’s Consolidated Financial Statements. In March 2022, the FASB issued ASU No. 2022-01, “Derivatives and Hedging (Topic 815): Fair Value Hedging-Portfolio Layer Method.” This ASU clarifies the accounting and promotes consistency in reporting for hedges where the portfolio layer method is applied. This guidance was effective for the Company beginning on January 1, 2023 and did not have an impact on the Company’s Consolidated Financial Statements. In October 2021, the FASB issued ASU No. 2021-08, “Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers.” This ASU requires contract assets and contract liabilities acquired in a business combination to be recognized and measured by the acquirer on the acquisition date in accordance with ASU No. 2016-10, “Revenue from Contracts with Customers (Topic 606).” This guidance was effective for the Company beginning on January 1, 2023 and did not have a material impact on the Company’s Consolidated Financial Statements.
Reclassifications	Reclassifications

Nature of Operations (Tables)

Nature of Operations (Tables)	12 Months Ended
	Dec. 31, 2023
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: 2023 2022 2021 Oral Care 42 % 43 % 44 % Personal Care 19 % 19 % 20 % Home Care 17 % 17 % 17 % Pet Nutrition 22 % 21 % 19 % Total 100 % 100 % 100 %

Acquisitions (Tables)

Acquisitions (Tables)	12 Months Ended
	Dec. 31, 2023
Business Combination and Asset Acquisition [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	During the fourth quarter of 2022, the Company finalized its purchase price allocation and the final purchase price of $719 was allocated to the net assets acquired based on their respective fair values as follows: Inventories $ 33 Property, plant and equipment 362 Goodwill 413 Current liabilities (5) Intangible liability (16) Deferred income taxes (68) Fair value of net assets acquired $ 719

Restructuring and Related Imp_2

Restructuring and Related Implementation Charges (Tables)	12 Months Ended
	Dec. 31, 2023
Restructuring and Related Activities [Abstract]
Schedule of Restructuring and Related Costs	For the twelve months ended December 31, 2023, charges resulting from the 2022 Global Productivity Initiative are reflected in the income statement as follows: Twelve Months Ended December 31, 2023 2022 Gross Profit $ 1 $ — Selling, general and administrative expenses 2 5 Other (income) expense, net 24 90 Non-service related postretirement costs 5 15 Total 2022 Global Productivity Initiative charges, pretax $ 32 $ 110 Total 2022 Global Productivity Initiative charges, aftertax $ 25 $ 87 The following table summarizes the activity for the restructuring and related implementation charges discussed above and the related accruals: Twelve Months Ended December 31, Employee-Related Incremental Asset Other Total Balance at December 31, 2021 $ — $ — $ — $ — $ — Charges 102 — 1 7 110 Cash Payments (53) — — (4) (57) Charges against assets (15) — — — (15) Foreign exchange (4) — — — (4) Balance at December 31, 2022 $ 30 $ — $ 1 $ 3 $ 34 Charges 24 — — 8 32 Cash Payments (45) — — (10) (55) Charges against assets (5) — (1) — (6) Foreign exchange 6 — — — 6 Balance at December 31, 2023 $ 10 $ — $ — $ 1 $ 11
Schedule of Percent of Total Restructuring Charges Related To Segment for the period	Total charges incurred for the 2022 Global Productivity Initiative relate to initiatives undertaken by the following reportable operating segments: Twelve Months Ended December 31, Program-to-date 2023 2022 North America 15 % 11 % 12 % Latin America — % 18 % 14 % Europe 19 % 19 % 19 % Asia Pacific 20 % 8 % 11 % Africa/Eurasia 5 % 11 % 9 % Hill's Pet Nutrition 23 % 11 % 14 % Corporate 18 % 22 % 21 % Total 100 % 100 % 100 % Since the inception of the 2022 Global Productivity Initiative, the Company has incurred cumulative pretax charges of $142 ($112 aftertax) in connection with the implementation of various projects as follows: Cumulative Charges as of December 31, 2023 Employee-Related Costs $ 126 Incremental Depreciation — Asset Impairments 1 Other 15 Total $ 142

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill by Segment	The changes in net carrying value of Goodwill by segment for the years ended December 31, 2023 and 2022 were as follows: 2022 Beginning Balance Acquisitions (1) Impairments Foreign currency translation Ending Balance Oral, Personal and Home Care North America $ 912 $ — $ — $ (6) $ 906 Latin America 159 — — 9 168 Europe 1,902 — (332) (66) 1,504 Asia Pacific 182 — — (3) 179 Africa/Eurasia 114 — — (7) 107 Total Oral, Personal and Home Care 3,269 — (332) (73) 2,864 Pet Nutrition 15 474 — (1) 488 Total Goodwill $ 3,284 $ 474 $ (332) $ (74) $ 3,352 2023 Beginning Balance Acquisitions Impairments Foreign currency translation Ending Balance Oral, Personal and Home Care North America $ 906 $ — $ — $ 2 $ 908 Latin America 168 — — 11 179 Europe 1,504 — — 67 1,571 Asia Pacific 179 — — — 179 Africa/Eurasia 107 — — (19) 88 Total Oral, Personal and Home Care 2,864 — — 61 2,925 Pet Nutrition 488 — — (3) 485 Total Goodwill $ 3,352 $ — $ — $ 58 $ 3,410 (1) For information related to the Company's acquisitions, refer to Note 3, Acquisitions
Schedule of Finite and Indefinite Lived Intangible Assets By Major Class	Other intangible assets as of December 31, 2023 and 2022 were comprised of the following: 2023 2022 Gross Carrying Amount Accumulated Amortization Net Gross Carrying Amount Accumulated Amortization Net Trademarks - finite life $ 1,167 $ (519) $ 648 $ 885 $ (471) $ 414 Other finite life intangible assets 624 (363) 261 616 (322) 294 Indefinite life intangible assets 978 — 978 1,212 — 1,212 Total Other intangible assets $ 2,769 $ (882) $ 1,887 $ 2,713 $ (793) $ 1,920

Long-Term Debt and Credit Fac_2

Long-Term Debt and Credit Facilities (Tables)	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Long-term debt consisted of the following at December 31: Weighted Average Interest Rate Maturities 2023 2022 Notes 3.1% 2024 - 2078 $ 7,580 $ 6,933 Commercial paper 4.0% 2024 606 1,778 Finance Lease Obligations Various 53 44 8,239 8,755 Less: Current portion of long-term debt (20) (14) Total $ 8,219 $ 8,741
Schedule of Maturities of Long-term Debt	Excluding commercial paper, scheduled maturities of long-term debt and finance leases outstanding as of December 31, 2023, were as follows: Years Ended December 31, 2024 $ 521 2025 643 2026 1,060 2027 503 2028 616 Thereafter 4,290

Fair Value Measurements and F_2

Fair Value Measurements and Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2023
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, 2023 and 2022: Assets Liabilities Account Fair Value Account Fair Value Designated derivative instruments December 31, 2023 December 31, 2022 December 31, 2023 December 31, 2022 Foreign currency contracts Other current assets 19 19 Other accruals 25 15 Commodity contracts Other current assets — 4 Other accruals 1 — Total designated $ 19 $ 23 $ 26 $ 15 Other financial instruments Marketable securities Other current assets 179 175 Total other financial instruments $ 179 $ 175
Schedule of Notional Amounts of Outstanding Derivative Positions	The following tables present the notional values as of: December 31, 2023 Foreign Foreign Currency Debt Commodity Contracts Fair Value Hedges $ 1,625 $ — $ — $ 1,625 Cash Flow Hedges 869 — 39 908 Net Investment Hedges 280 3,908 — 4,188 December 31, 2022 Foreign Foreign Currency Debt Commodity Contracts Fair Value Hedges $ 609 $ — $ — $ 609 Cash Flow Hedges 840 — 26 866 Net Investment Hedges 138 4,797 — 4,935
Schedule of Derivative Instruments, Gain (Loss)	The following table presents the location and amount of gain (loss) on fair value hedges recognized in the Company’s Consolidated Statements of Income: Gain (Loss) Recognized in Income Location of Gain (Loss) Recognized in Income Twelve Months Ended December 31, Hedging instruments: 2023 2022 Interest rate swaps Interest (income) expense, net $ — $ (5) Foreign currency contracts Selling, general and administrative expenses 29 44 Total gain (loss) on fair value hedges $ 29 $ 39
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)	The following tables present the amount of gain (loss) on cash flow hedges recognized in the Company’s Accumulated Other Comprehensive Income (AOCI) and location and amount of gain (loss) on reclassification from AOCI into Consolidated Statements of Income: Gain (Loss) Recognized in AOCI Gain (Loss) Reclassified from AOCI Into Income Twelve Months Ended December 31, Location of Gain (Loss) Recognized in Income Twelve Months Ended December 31, 2023 2022 2023 2022 Hedging instruments: Foreign currency contracts $ (13) $ 9 Cost of Sales $ (3) $ 13 Commodity contracts (3) 9 Cost of Sales (1) 5 Forward Starting Swaps 10 82 Interest (income) expense, net 8 2 Total gain (loss) on cash flow hedges $ (6) $ 100 $ 4 $ 20
Schedule of Net Investment Hedges in Accumulated Other Comprehensive Income (Loss)	The following table presents the amount of gain (loss) on net investment hedges recognized in the Company’s AOCI: Gain (Loss) Recognized in AOCI Twelve Months Ended December 31, Hedging instruments: 2023 2022 Foreign currency contracts $ (34) $ (5) Foreign currency debt (124) 218 Total gain (loss) on net investment hedges $ (158) $ 213

Capital Stock and Stock-Based_2

Capital Stock and Stock-Based Compensation Plans (Tables)	12 Months Ended
	Dec. 31, 2023
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, 2021 849,893,601 615,812,759 Common stock acquired (16,518,163) 16,518,163 Shares issued for stock options 6,357,793 (6,357,793) Shares issued for restricted stock units and other 747,053 (747,053) Balance, December 31, 2021 840,480,284 625,226,076 Common stock acquired (17,060,788) 17,060,788 Shares issued for stock options 5,654,692 (5,654,692) Shares issued for restricted stock units and other 1,138,418 (1,138,418) Balance, December 31, 2022 830,212,606 635,493,754 Common stock acquired (14,735,909) 14,735,909 Shares issued for stock options 5,318,430 (5,318,430) Shares issued for restricted stock units and other 617,642 (617,642) Balance, December 31, 2023 821,412,769 644,293,591
Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions	The weighted-average fair value assumptions are summarized in the following table: 2023 2022 2021 Expected term of options 6 years 6 years 6 years Expected volatility rate 19.8 % 21.1 % 20.3 % Risk-free interest rate 4.3 % 3.0 % 1.0 % Expected dividend yield 2.5 % 2.4 % 2.3 % Weighted-average estimated fair value $ 14.89 $ 14.71 $ 11.11
Schedule of Share-based Compensation, Stock Options, Activity	A summary of stock option activity during 2023 is presented below: Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life Intrinsic Value of Unexercised Options outstanding, January 1, 2023 24,431 $ 75 Granted 2,310 73 Exercised (5,318) 72 Forfeited (174) 77 Expired (507) 74 Options outstanding, December 31, 2023 20,742 75 5 $ 97 Options exercisable, December 31, 2023 14,608 $ 75 4 $ 74
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, 2023 is presented below: Shares Weighted Average Grant Date Fair Value Per Award Performance-based restricted stock units as of January 1, 2023 1,026 $ 70 Activity: Granted 393 67 Vested (234) 71 Forfeited (97) 74 Change due to performance and/or market condition achievement (19) 77 Performance-based restricted stock units as of December 31, 2023 1,069 $ 68 A summary of restricted stock unit activity during 2023 is presented below: Shares Weighted Average Grant Date Fair Value Per Award Restricted stock units as of January 1, 2023 1,860 $ 77 Activity: Granted 979 73 Vested (594) 77 Forfeited (71) 76 Restricted stock units as of December 31, 2023 2,174 $ 76

Retirement Plans and Other Re_2

Retirement Plans and Other Retiree Benefits (Tables)	12 Months Ended
	Dec. 31, 2023
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 26 % 21 % Fixed income securities 60 % 63 % Other investments 14 % 16 % Total 100 % 100 % At December 31, 2023, 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 Cash and cash equivalents Level 1 $ 206 $ 14 U.S. common stocks Level 1 — 2 International common stocks Level 1 — 20 Pooled funds (1) Level 1 20 113 Fixed income securities (2) Level 2 710 71 Guaranteed investment contracts (3) Level 2 — 34 936 254 Investments valued using NAV per share (4) Domestic, developed and emerging markets equity funds 315 55 Fixed income funds (5) 99 219 Hedge funds (6) — 7 Multi-asset funds (7) 40 1 Real estate funds (8) — 30 454 312 Other assets and liabilities, net (9) (30) — Total Investments $ 1,360 $ 566 At December 31, 2022, 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 Cash and cash equivalents Level 1 $ 30 $ 8 U.S. common stocks Level 1 — 2 International common stocks Level 1 — 13 Pooled funds (1) Level 1 38 95 Fixed income securities (2) Level 2 676 62 Guaranteed investment contracts (3) Level 2 — 34 744 214 Investments valued using NAV per share (4) Domestic, developed and emerging markets equity funds 260 61 Fixed income funds (5) 337 202 Hedge funds (6) — 7 Multi-asset funds (7) 24 1 Real estate funds (8) — 31 621 302 Other assets and liabilities, net (9) (2) — Total Investments $ 1,363 $ 516 _______ (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 December 31, 2023, approximately 30% and, as of December 31, 2022, approximately 40% 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)
Schedule of 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 2023 2022 2023 2022 2023 2022 United States International Change in Benefit Obligations Benefit obligations at beginning of year $ 1,673 $ 2,207 $ 675 $ 937 $ 658 $ 1,080 Service cost — — 15 15 7 18 Interest cost 91 64 33 21 38 36 Participants’ contributions — — 5 5 — — Plan amendments — — — 2 (33) (175) Actuarial loss (gain) 36 (430) 65 (190) 38 (250) Foreign exchange impact — — 29 (56) 4 2 Termination benefits 3 14 2 — — 1 Curtailments and settlements — (4) (6) (27) — — Benefit payments (148) (178) (42) (32) (47) (54) ERISA litigation matter 267 — — — — — Benefit obligations at end of year $ 1,922 $ 1,673 $ 776 $ 675 $ 665 $ 658 Change in Plan Assets Fair value of plan assets at beginning of year $ 1,363 $ 1,834 $ 516 $ 723 $ — $ — Actual return on plan assets 115 (321) 26 (139) — — Company contributions 30 32 39 35 47 54 Participants’ contributions — — 5 5 — — Foreign exchange impact — — 27 (49) — — Settlements and acquisitions — (4) (5) (27) — — Benefit payments (148) (178) (42) (32) (47) (54) Fair value of plan assets at end of year $ 1,360 $ 1,363 $ 566 $ 516 $ — $ — Funded Status Benefit obligations at end of year $ 1,922 $ 1,673 $ 776 $ 675 $ 665 $ 658 Fair value of plan assets at end of year 1,360 1,363 566 516 — — Net amount recognized $ (562) $ (310) $ (210) $ (159) $ (665) $ (658) Amounts Recognized in Balance Sheet Noncurrent assets $ 1 $ 33 $ 48 $ 51 $ — $ — Current liabilities (28) (25) (15) (14) (53) (43) Noncurrent liabilities (535) (318) (243) (196) (612) (615) Net amount recognized $ (562) $ (310) $ (210) $ (159) $ (665) $ (658) Amounts Recognized in Accumulated Other Comprehensive Income (Loss) Actuarial loss $ 767 $ 811 $ 177 $ 137 $ 128 $ 92 Transition/prior service cost(credit) — — 9 10 (180) (168) $ 767 $ 811 $ 186 $ 147 $ (52) $ (76) Accumulated benefit obligation $ 1,907 $ 1,656 $ 719 $ 616 $ — $ — Pension Plans Other Retiree Benefit Plans 2023 2022 2023 2022 2023 2022 United States International Weighted-Average Assumptions Used to Determine Benefit Obligations Discount rate 5.40 % 5.66 % 4.35 % 4.75 % 5.37 % 5.67 % Expected long-term rate of return on plan assets 6.50 % 6.25 % 4.66 % 4.66 % N/A N/A Long-term rate of compensation increase 3.50 % 3.50 % 3.19 % 3.22 % — % 3.50 % ESOP growth rate — % — % — % — % 6.00 % 6.00 % Medical cost trend rate of increase — % — % — % — % 6.00 % 6.25 % Interest Crediting Rate 4.99 % 5.21 % 1.13 % 2.28 % — % — %
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: 2023 2022 Benefit Obligation Exceeds Fair Value of Plan Assets Projected benefit obligation $ 2,352 $ 657 Fair value of plan assets 1,532 108 Accumulated benefit obligation 2,204 540 Fair value of plan assets 1,428 20 Other Retiree Benefit plans with accumulated postretirement benefit obligation in excess of plan assets as of December 31 consisted of the following: 2023 2022 Benefit Obligation Exceeds Fair Value of Plan Assets Accumulated postretirement benefit obligation $ 665 $ 658 Fair value of plan assets — —
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 2023 2022 2021 2023 2022 2021 2023 2022 2021 United States International Components of Net Periodic Benefit Cost Service cost $ — $ — $ — $ 15 $ 15 $ 19 $ 7 $ 18 $ 26 Interest cost 91 64 61 33 21 20 38 36 35 Expected return on plan assets (79) (101) (106) (25) (21) (20) — — — Amortization of transition and prior service costs (credits) — — — 1 1 1 (20) (6) — Amortization of actuarial loss 43 46 47 5 7 11 1 14 23 Net periodic benefit cost $ 55 $ 9 $ 2 $ 29 $ 23 $ 31 $ 26 $ 62 $ 84 Other postretirement charges 3 13 (3) 2 4 1 — 2 — ERISA litigation matter 267 — — — — — — — — Total pension cost $ 325 $ 22 $ (1) $ 31 $ 27 $ 32 $ 26 $ 64 $ 84 Weighted-Average Assumptions Used to Determine Net Periodic Benefit Cost Discount rate 5.66 % 2.98 % 2.65 % 4.75 % 2.10 % 1.61 % 5.67 % 3.06 % 2.88 % Expected long-term rate of return on plan assets 6.25 % 5.70 % 5.70 % 4.66 % 2.72 % 2.93 % N/A N/A 5.70 % Long-term rate of compensation increase 3.50 % 3.50 % 3.50 % 3.22 % 2.89 % 2.62 % — % — % — % ESOP growth rate — % — % — % — % — % — % 6.00 % 6.00 % 10.00 % Medical cost trend rate of increase — % — % — % — % — % — % 6.25 % 6.00 % 6.00 % Interest Crediting Rate 5.21 % 2.82 % 2.48 % 2.28 % 0.84 % 0.83 % — % — % — %
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 2024 $ 384 $ 46 $ 53 $ 483 2025 142 41 54 237 2026 146 45 54 245 2027 144 44 54 242 2028 144 48 53 245 2029-2033 667 258 261 1,186

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Schedule of Components of Income Before Income Taxes	The components of Income before income taxes are as follows for the years ended December 31: 2023 2022 2021 United States $ 692 $ 1,169 $ 1,256 International 2,700 1,491 1,831 Total Income before income taxes $ 3,392 $ 2,660 $ 3,087
Schedule of Provision for Income Taxes	The Provision for income taxes consists of the following for the years ended December 31: 2023 2022 2021 United States $ 72 $ 199 $ 228 International 865 494 521 Total Provision for income taxes $ 937 $ 693 $ 749
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: 2023 2022 2021 Goodwill and intangible assets $ 1 $ 106 $ 50 Property, plant and equipment (13) 2 (19) Pension and other retiree benefits 68 (1) (4) Stock-based compensation 2 (3) 11 Right-of-use assets/lease liabilities 1 (5) (2) Tax credits and tax loss carryforwards, net of valuation allowance 29 8 (2) Deferred withholding tax 7 8 (16) Research and Experimentation Capitalization 29 58 — Other, net 11 (10) 19 Total deferred tax benefit (provision) $ 135 $ 163 $ 37
Schedule of 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: 2023 2022 2021 Percentage of Income before income taxes Tax at United States statutory rate 21.0 % 21.0 % 21.0 % State income taxes, net of federal benefit (0.1) 0.8 1.1 Earnings taxed at other than United States statutory rate 5.4 5.4 2.7 Non-deductible goodwill impairment charges — 1.9 2.2 Foreign-derived intangible income benefit (2.4) (2.6) (2.2) Foreign tax matter 3.7 — — Other, net — (0.4) (0.5) Effective tax rate 27.6 % 26.1 % 24.3 %
Schedule of Components of Deferred Tax Assets (Liabilities)	The components of deferred tax assets (liabilities) are as follows at December 31: 2023 2022 Deferred tax liabilities: Goodwill and intangible assets $ (412) $ (405) Property, plant and equipment (420) (375) Right-of-use assets (126) (118) Deferred withholding tax (96) (103) Other (34) (27) Total deferred tax liabilities (1,088) (1,028) Deferred tax assets: Pension and other retiree benefits 295 214 Tax credits and tax loss carryforwards 356 169 Lease liabilities 134 125 Accrued liabilities 221 218 Stock-based compensation 75 73 Research and Experimentation Capitalization 87 58 Other 60 52 Total deferred tax assets 1,228 909 Valuation Allowance $ (287) $ (129) Net deferred tax assets $ 941 $ 780 Net deferred income taxes $ (147) $ (248)
Schedule of Unrecognized Tax Benefits Activity	Unrecognized tax benefits activity for the years ended December 31, 2023, 2022 and 2021 is summarized below: 2023 2022 2021 Unrecognized tax benefits: Balance, January 1 $ 298 $ 245 $ 227 Increases as a result of tax positions taken during the current year 73 32 26 Decreases of tax positions taken during prior years (61) (21) (20) Increases of tax positions taken during prior years 6 46 40 Decreases as a result of settlements with taxing authorities and the expiration of statutes of limitations (2) (2) (23) Effect of foreign currency rate movements — (2) (5) Balance, December 31 $ 314 $ 298 $ 245

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	For the years ended December 31, 2023, 2022 and 2021, earnings per share were as follows: 2023 2022 2021 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 $ 2,300 827.4 $ 2.78 $ 1,785 836.4 $ 2.13 $ 2,166 845.0 $ 2.56 Stock options and restricted stock units 1.8 2.4 3.3 Diluted EPS $ 2,300 829.2 $ 2.77 $ 1,785 838.8 $ 2.13 $ 2,166 848.3 $ 2.55

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2023
Segment Reporting [Abstract]
Net Sales and Operating Profit by Segment	2023 2022 2021 Net sales Oral, Personal and Home Care North America (1) $ 3,925 $ 3,816 $ 3,694 Latin America 4,640 3,982 3,663 Europe 2,737 2,548 2,841 Asia Pacific 2,782 2,826 2,867 Africa/Eurasia 1,083 1,082 1,045 Total Oral, Personal and Home Care 15,167 14,254 14,110 Pet Nutrition (2) 4,290 3,713 3,311 Total Net sales $ 19,457 $ 17,967 $ 17,421 _________ (1) Net sales in the U.S. for Oral, Personal and Home Care were $3,625, $3,511 and $3,391 in 2023, 2022 and 2021, respectively. (2) Net sales in the U.S. for Pet Nutrition were $2,918, $2,432 and $2,018 in 2023, 2022 and 2021, respectively. 2023 2022 2021 Operating profit Oral, Personal and Home Care North America $ 892 $ 761 $ 754 Latin America 1,417 1,108 1,012 Europe 552 514 682 Asia Pacific 767 737 844 Africa/Eurasia 254 228 203 Total Oral, Personal and Home Care 3,882 3,348 3,495 Pet Nutrition 806 850 901 Corporate (704) (1,305) (1,064) Total Operating profit $ 3,984 $ 2,893 $ 3,332 2023 2022 2021 Capital expenditures Oral, Personal and Home Care North America $ 46 $ 66 $ 87 Latin America 146 121 118 Europe 44 31 44 Asia Pacific 65 60 50 Africa/Eurasia 10 30 33 Total Oral, Personal and Home Care 311 308 332 Pet Nutrition 301 297 147 Corporate 93 91 88 Total Capital expenditures $ 705 $ 696 $ 567 2023 2022 2021 Depreciation and amortization Oral, Personal and Home Care North America $ 99 $ 106 $ 104 Latin America 98 93 88 Europe 82 90 98 Asia Pacific 84 89 96 Africa/Eurasia 9 9 9 Total Oral, Personal and Home Care 372 387 395 Pet Nutrition 101 65 62 Corporate 94 93 99 Total Depreciation and amortization $ 567 $ 545 $ 556 2023 2022 Identifiable assets Oral, Personal and Home Care North America $ 3,924 $ 4,012 Latin America 2,987 2,603 Europe 3,542 3,457 Asia Pacific 2,071 2,085 Africa/Eurasia 698 694 Total Oral, Personal and Home Care 13,222 12,851 Pet Nutrition 3,084 2,804 Corporate (1) 87 76 Total Identifiable assets $ 16,393 $ 15,731 ____________ (1) In 2023, Corporate identifiable assets primarily consisted of investments in equity securities (98%). In 2022, Corporate identifiable assets primarily consisted of investments in equity securities (95%). 2023 2022 Long-lived assets (1) United States $ 2,733 $ 2,569 International 2,340 2,216 Total Long-lived assets $ 5,073 $ 4,785 ____________ (1)

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Schedule of Right-of-use Assets and Liabilities for Operating Leases	As of December 31, 2023 and 2022, the Company’s right-of use assets and liabilities for operating leases were as follows: 2023 2022 Other assets $ 491 $ 478 Other accruals 95 108 Other liabilities 420 397 Total operating lease liabilities $ 515 $ 505
Schedule of Operating Lease Liabilities	Lease liabilities for operating leases as of December 31, 2023 were as follows: 2024 $ 117 2025 99 2026 79 2027 71 2028 57 Thereafter 199 Total lease commitments $ 622 Less: Interest (107) Present value of lease liabilities $ 515
Schedule of Components of Operating Lease Expense	The components of the Company’s operating lease cost for the twelve months ended December 31, 2023 and 2022 were as follows: 2023 2022 Operating lease cost $ 136 $ 138 Short-term lease cost 3 5 Variable lease cost 20 18 Sublease Income (2) (1) Total lease cost $ 157 $ 160

Supplemental Income Statement_2

Supplemental Income Statement Information (Tables)	12 Months Ended
	Dec. 31, 2023
Supplemental Income Statement Elements [Abstract]
Other (income) expense, net	Other (income) expense, net 2023 2022 2021 Amortization of intangible assets $ 72 $ 80 $ 89 Equity income (17) (12) (12) 2022 Global Productivity Initiative 24 90 — Product recall costs 25 — — Losses (gains) from marketable securities and other assets 11 (22) (8) Indirect tax payments (refunds) 18 (14) (5) Gain on the sale of land in Asia Pacific — (47) — Acquisition-related costs — 19 — Value-added tax matter in Brazil — — (26) Other, net 58 (25) 27 Total Other (income) expense, net $ 191 $ 69 $ 65
Interest expense, net	Interest (income) expense, net 2023 2022 2021 Interest incurred $ 299 $ 172 $ 120 Interest capitalized (12) (5) (3) Interest income (55) (14) (17) Loss on early extinguishment of debt — — 75 Total Interest (income) expense, net $ 232 $ 153 $ 175
Research and development and Advertising	2023 2022 2021 Research and development $ 343 $ 320 $ 307 Advertising $ 2,371 $ 1,997 $ 2,021

Supplemental Balance Sheet In_2

Supplemental Balance Sheet Information (Tables)	12 Months Ended
	Dec. 31, 2023
Balance Sheet Related Disclosures [Abstract]
Schedule of Inventories by Major Class	Inventories by major class are as follows at December 31: Inventories 2023 2022 Raw materials and supplies $ 606 $ 666 Work-in-process 46 48 Finished goods 1,411 1,508 Total Inventories, net $ 2,063 $ 2,222 Non-current inventory, net (129) (148) Current Inventories, net $ 1,934 $ 2,074
Schedule of Property, Plant and Equipment	Property, plant and equipment, net 2023 2022 Land $ 227 $ 180 Buildings 2,047 1,825 Manufacturing machinery and equipment 6,365 6,001 Other equipment 1,647 1,577 10,286 9,583 Accumulated depreciation (5,704) (5,276) Total Property, plant and equipment, net $ 4,582 $ 4,307
Schedule of Other Accruals	Other accruals 2023 2022 Accrued advertising and coupon redemption $ 882 $ 774 Accrued payroll and employee benefits 403 329 Accrued taxes other than income taxes 167 133 Restructuring accrual 11 39 Pension and other retiree benefits 96 82 Lease liabilities due in one year 95 108 Accrued interest 78 59 Derivatives 26 15 Other 619 572 Total Other accruals $ 2,377 $ 2,111
Schedule of Other Liabilities	Other liabilities 2023 2022 Pension and other retiree benefits $ 1,390 $ 1,129 Long-term lease liabilities 420 397 Other 305 271 Total Other liabilities $ 2,115 $ 1,797

Supplemental Other Comprehens_2

Supplemental Other Comprehensive Income (Loss) Information (Tables)	12 Months Ended
	Dec. 31, 2023
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: 2023 2022 2021 Cumulative translation adjustments, pre-tax $ 127 $ (113) $ (99) Tax amounts 13 (29) (92) Cumulative translation adjustments, net of tax 140 (142) (191) Pension and other benefits: Net actuarial gain (loss), prior service costs and settlements (49) 466 102 Amortization of net actuarial loss, transition and prior service costs (1) 30 62 82 Retirement Plan and other retiree benefit adjustments, pre-tax (19) 528 184 Tax amounts 3 (115) (50) Retirement Plan and other retiree benefit adjustments, net of tax (16) 413 134 Cash flow hedges: Unrealized gains (losses) on cash flow hedges (6) 100 13 Reclassification of (gains) losses into net earnings on cash flow hedges (2) (4) (20) 7 Gains (losses) on cash flow hedges, pre-tax (10) 80 20 Tax amounts 3 (20) (4) Gains (losses) on cash flow hedges net of tax (7) 60 16 Total Other comprehensive income (loss), net of tax $ 117 $ 331 $ (41) _________ (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.

Nature of Operations (Details)

Nature of Operations (Details) - Sales Revenue, Net - Product Concentration Risk	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Oral Care
Entity-Wide Information, Revenue from External Customer [Line Items]
Percent of net sales	42%	43%	44%
Personal Care
Entity-Wide Information, Revenue from External Customer [Line Items]
Percent of net sales	19%	19%	20%
Home Care
Entity-Wide Information, Revenue from External Customer [Line Items]
Percent of net sales	17%	17%	17%
Pet Nutrition
Entity-Wide Information, Revenue from External Customer [Line Items]
Percent of net sales	22%	21%	19%
Product
Entity-Wide Information, Revenue from External Customer [Line Items]
Percent of net sales	100%	100%	100%

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Principles of Consolidation, Inventories (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Investments accounted for using the equity method, minimum interest	20%
Investments accounted for using the equity method, maximum interest	50%
Equity method investments included in other assets	$ 83	$ 70
Investments accounted for using the cost method, maximum interest	20%
Approximate percentage of inventories determined using the first-in, first-out (FIFO) method	75%

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Shipping and Handling Costs, Property, Plant and Equipment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Selling, general and administrative expenses	$ 7,151	$ 6,565	$ 6,407
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	$ 1,771	$ 1,874	$ 1,687

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Goodwill and Other Intangibles (Details) - Local Brands, Trademarks, Customer Relationships, and Non-Compete Agreements	Dec. 31, 2023
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		3 Months Ended
	Sep. 30, 2022 USD ($) plant	Mar. 31, 2023 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Business Acquisition [Line Items]
Goodwill			$ 3,410	$ 3,352	$ 3,284
Pet Nutrition
Business Acquisition [Line Items]
Goodwill			485	488	$ 15
Red Collar
Business Acquisition [Line Items]
Number of food manufacturing plants | plant	3
Purchase price consideration	$ 719
Payments to acquire business		$ 719
Goodwill				$ 413
Red Collar | Pet Nutrition
Business Acquisition [Line Items]
Goodwill			$ 413

Acquisitions - Schedule of Reco

Acquisitions - Schedule of Recognized Identifiable Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Goodwill	$ 3,410	$ 3,352	$ 3,284
Red Collar
Business Acquisition [Line Items]
Inventories		33
Property, plant and equipment		362
Goodwill		413
Current liabilities		(5)
Intangible liability		(16)
Deferred income taxes		(68)
Fair value of net assets acquired		$ 719

Restructuring and Related Imp_3

Restructuring and Related Implementation Charges - Narrative (Details) - USD ($) $ in Millions		12 Months Ended
	Jan. 27, 2022	Dec. 31, 2023	Dec. 31, 2022
Restructuring Cost and Reserve [Line Items]
Global Growth and Efficiency Program		$ 1	$ 0
Global Productivity Initiative
Restructuring Cost and Reserve [Line Items]
Percent of total restructuring charges related to segment		100%	100%
Employee related costs include pension		$ 5	$ 15
Global Growth and Efficiency Program		32	110
Total 2022 Global Productivity Initiative charges, aftertax		25	87
Global Productivity Initiative | Selling, general and administrative expenses
Restructuring Cost and Reserve [Line Items]
Global Growth and Efficiency Program		2	5
Global Productivity Initiative | Other (income) expense, net
Restructuring Cost and Reserve [Line Items]
Global Growth and Efficiency Program		24	90
Global Productivity Initiative | Non-service related postretirement costs
Restructuring Cost and Reserve [Line Items]
Global Growth and Efficiency Program		$ 5	$ 15
Global Productivity Initiative | Pet Nutrition
Restructuring Cost and Reserve [Line Items]
Percent of total restructuring charges related to segment	10%	23%	11%
Global Productivity Initiative | Corporate
Restructuring Cost and Reserve [Line Items]
Percent of total restructuring charges related to segment	15%	18%	22%
Global Productivity Initiative | North America
Restructuring Cost and Reserve [Line Items]
Percent of total restructuring charges related to segment	5%	15%	11%
Global Productivity Initiative | Latin America
Restructuring Cost and Reserve [Line Items]
Percent of total restructuring charges related to segment	10%	0%	18%
Global Productivity Initiative | Europe
Restructuring Cost and Reserve [Line Items]
Percent of total restructuring charges related to segment	45%	19%	19%
Global Productivity Initiative | Asia Pacific
Restructuring Cost and Reserve [Line Items]
Percent of total restructuring charges related to segment	5%	20%	8%
Global Productivity Initiative | Africa/Eurasia
Restructuring Cost and Reserve [Line Items]
Percent of total restructuring charges related to segment	10%	5%	11%
Global Productivity Initiative | Employee-Related Costs
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost, percentage	80%
Global Productivity Initiative | Asset Related Costs
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost, percentage	10%
Global Productivity Initiative | Other Charges
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost, percentage	10%
Global Productivity Initiative | Minimum
Restructuring Cost and Reserve [Line Items]
Restructuring program cost before tax	$ 200
Restructuring program cost, after tax		$ 170
Restructuring and related Cost, estimated to settle through cash, percentage	80%
Global Productivity Initiative | Maximum
Restructuring Cost and Reserve [Line Items]
Restructuring program cost before tax	$ 240
Restructuring program cost, after tax		$ 200
Restructuring and related Cost, estimated to settle through cash, percentage	90%

Restructuring and Related Imp_4

Restructuring and Related Implementation Charges - Summary of Restructuring and Related Costs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Restructuring Cost and Reserve [Line Items]
Total 2022 Global Productivity Initiative charges, pretax	$ 1	$ 0
Global Productivity Initiative
Restructuring Cost and Reserve [Line Items]
Total 2022 Global Productivity Initiative charges, pretax	32	110
Total 2022 Global Productivity Initiative charges, aftertax	25	87
Global Productivity Initiative | Selling, general and administrative expenses
Restructuring Cost and Reserve [Line Items]
Total 2022 Global Productivity Initiative charges, pretax	$ 2	$ 5
Restructuring, Incurred Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]	Selling, general and administrative expenses	Selling, general and administrative expenses
Global Productivity Initiative | Other (income) expense, net
Restructuring Cost and Reserve [Line Items]
Total 2022 Global Productivity Initiative charges, pretax	$ 24	$ 90
Restructuring, Incurred Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Operating Income (Expense), Net	Other Operating Income (Expense), Net
Global Productivity Initiative | Non-service related postretirement costs
Restructuring Cost and Reserve [Line Items]
Total 2022 Global Productivity Initiative charges, pretax	$ 5	$ 15
Restructuring, Incurred Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]	Non-service related postretirement costs	Non-service related postretirement costs

Restructuring and Related Imp_5

Restructuring and Related Implementation Charges - Restructuring Charges Incurred, by Segment (Details) - Global Productivity Initiative		12 Months Ended
	Jan. 27, 2022	Dec. 31, 2023	Dec. 31, 2022
Restructuring Cost and Reserve [Line Items]
Percent of total restructuring charges related to segment		100%	100%
Program-to-date accumulated charges (percent)		100%
Pet Nutrition
Restructuring Cost and Reserve [Line Items]
Percent of total restructuring charges related to segment	10%	23%	11%
Program-to-date accumulated charges (percent)		14%
Corporate
Restructuring Cost and Reserve [Line Items]
Percent of total restructuring charges related to segment	15%	18%	22%
Program-to-date accumulated charges (percent)		21%
North America
Restructuring Cost and Reserve [Line Items]
Percent of total restructuring charges related to segment	5%	15%	11%
Program-to-date accumulated charges (percent)		12%
Latin America
Restructuring Cost and Reserve [Line Items]
Percent of total restructuring charges related to segment	10%	0%	18%
Program-to-date accumulated charges (percent)		14%
Europe
Restructuring Cost and Reserve [Line Items]
Percent of total restructuring charges related to segment	45%	19%	19%
Program-to-date accumulated charges (percent)		19%
Asia Pacific
Restructuring Cost and Reserve [Line Items]
Percent of total restructuring charges related to segment	5%	20%	8%
Program-to-date accumulated charges (percent)		11%
Africa/Eurasia
Restructuring Cost and Reserve [Line Items]
Percent of total restructuring charges related to segment	10%	5%	11%
Program-to-date accumulated charges (percent)		9%

Restructuring and Related Imp_6

Restructuring and Related Implementation Charges - Summary of Restructuring Charges, Cumulative to Date (Details) $ in Millions	Dec. 31, 2023 USD ($)
Restructuring Cost and Reserve [Line Items]
Pretax charges related to the Restructuring Program to date	$ 142
Restructuring and related cost incurred cost to date after tax	112
Global Growth and Efficiency Program | Employee-Related Costs
Restructuring Cost and Reserve [Line Items]
Pretax charges related to the Restructuring Program to date	126
Global Growth and Efficiency Program | Incremental Depreciation
Restructuring Cost and Reserve [Line Items]
Pretax charges related to the Restructuring Program to date	0
Global Growth and Efficiency Program | Asset Impairments
Restructuring Cost and Reserve [Line Items]
Pretax charges related to the Restructuring Program to date	1
Global Growth and Efficiency Program | Other
Restructuring Cost and Reserve [Line Items]
Pretax charges related to the Restructuring Program to date	$ 15

Restructuring and Related Imp_7

Restructuring and Related Implementation Charges - Restructuring Activity and Related Accruals (Details) - Global Productivity Initiative - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Restructuring Reserve [Roll Forward]
Beginning balance	$ 34	$ 0
Charges	32	110
Cash Payments	(55)	(57)
Charges against assets	(6)	(15)
Foreign exchange	6	(4)
Ending balance	11	34
Employee-Related Costs
Restructuring Reserve [Roll Forward]
Beginning balance	30	0
Charges	24	102
Cash Payments	(45)	(53)
Charges against assets	(5)	(15)
Foreign exchange	6	(4)
Ending balance	10	30
Incremental Depreciation
Restructuring Reserve [Roll Forward]
Beginning balance	0	0
Charges	0	0
Cash Payments	0	0
Charges against assets	0	0
Foreign exchange	0	0
Ending balance	0	0
Asset Impairments
Restructuring Reserve [Roll Forward]
Beginning balance	1	0
Charges	0	1
Cash Payments	0	0
Charges against assets	(1)	0
Foreign exchange	0	0
Ending balance	0	1
Other
Restructuring Reserve [Roll Forward]
Beginning balance	3	0
Charges	8	7
Cash Payments	(10)	(4)
Charges against assets	0	0
Foreign exchange	0	0
Ending balance	$ 1	$ 3

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Schedule of Goodwill (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Goodwill [Roll Forward]
Beginning Balance	$ 3,352	$ 3,284
Acquisitions	0	474
Impairments	0	(332)
Foreign currency translation	58	(74)
Ending Balance	3,410	3,352
Oral, Personal and Home Care
Goodwill [Roll Forward]
Beginning Balance	2,864	3,269
Acquisitions	0	0
Impairments	0	(332)
Foreign currency translation	61	(73)
Ending Balance	2,925	2,864
Pet Nutrition
Goodwill [Roll Forward]
Beginning Balance	488	15
Acquisitions	0	474
Impairments	0	0
Foreign currency translation	(3)	(1)
Ending Balance	485	488
North America | Oral, Personal and Home Care
Goodwill [Roll Forward]
Beginning Balance	906	912
Acquisitions	0	0
Impairments	0	0
Foreign currency translation	2	(6)
Ending Balance	908	906
Latin America | Oral, Personal and Home Care
Goodwill [Roll Forward]
Beginning Balance	168	159
Acquisitions	0	0
Impairments	0	0
Foreign currency translation	11	9
Ending Balance	179	168
Europe | Oral, Personal and Home Care
Goodwill [Roll Forward]
Beginning Balance	1,504	1,902
Acquisitions	0	0
Impairments	0	(332)
Foreign currency translation	67	(66)
Ending Balance	1,571	1,504
Asia Pacific | Oral, Personal and Home Care
Goodwill [Roll Forward]
Beginning Balance	179	182
Acquisitions	0	0
Impairments	0	0
Foreign currency translation	0	(3)
Ending Balance	179	179
Africa/Eurasia | Oral, Personal and Home Care
Goodwill [Roll Forward]
Beginning Balance	107	114
Acquisitions	0	0
Impairments	0	0
Foreign currency translation	(19)	(7)
Ending Balance	$ 88	$ 107

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Summary of Other Intangible Assets (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Finite and indefinite-lived intangible assets [Line Items]
Finite & indefinite lived intangibles, gross	$ 2,769	$ 2,713
Finite-lived intangible assets, accumulated amortization	(882)	(793)
Intangible assets, net (excluding goodwill)	1,887	1,920
Indefinite life intangible assets
Finite and indefinite-lived intangible assets [Line Items]
Indefinite-lived intangible assets (excluding goodwill)	978	1,212
Trademarks
Finite and indefinite-lived intangible assets [Line Items]
Finite-lived intangible assets, gross	1,167	885
Finite-lived intangible assets, accumulated amortization	(519)	(471)
Finite-lived intangible assets, net	648	414
Other finite life intangible assets
Finite and indefinite-lived intangible assets [Line Items]
Finite-lived intangible assets, gross	624	616
Finite-lived intangible assets, accumulated amortization	(363)	(322)
Finite-lived intangible assets, net	$ 261	$ 294

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Goodwill [Line Items]
Amortization of intangible assets		$ 72	$ 80	$ 89
Annual estimated amortization expense, year 1	$ 72	72
Annual estimated amortization expense, year 2	72	72
Annual estimated amortization expense, year 3	72	72
Annual estimated amortization expense, year 4	72	72
Annual estimated amortization expense, year 5	72	72
Reporting unit, impairment analysis carrying amount	221	221
Impairment charge		0	721	$ 571
Impairments		0	332
Indefinite life intangible assets
Goodwill [Line Items]
Indefinite-lived Intangible Assets (Excluding Goodwill)	978	978	$ 1,212
Reporting unit, impairment analysis carrying amount	118	118
Impairment charge	89
Trademarks
Goodwill [Line Items]
Indefinite-lived Intangible Assets (Excluding Goodwill)	$ 260	$ 260
Estimated remaining useful life (in years)	25 years	25 years
Reporting unit, impairment analysis carrying amount	$ 257	$ 257
Impairment charge	300
Filorga Reporting Unit
Goodwill [Line Items]
Carrying value (including goodwill)	214	214
Impairments	332
Filorga Reporting Unit | Trademarks
Goodwill [Line Items]
Reporting unit, impairment analysis carrying amount	$ 312	$ 312

Long-Term Debt and Credit Fac_3

Long-Term Debt and Credit Facilities - Components of Long-term Debt (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Total debt	$ 8,239	$ 8,755
Less: Current portion of long-term debt	(20)	(14)
Total debt, excluding current portion of long-term debt	$ 8,219	8,741
Notes
Debt Instrument [Line Items]
Weighted average interest rate	3.10%
Total debt	$ 7,580	6,933
Commercial paper
Debt Instrument [Line Items]
Weighted average interest rate	4%
Total debt	$ 606	1,778
Finance Lease Obligations
Debt Instrument [Line Items]
Total debt	$ 53	$ 44

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, 2023 USD ($)
Debt Disclosure [Abstract]
2024	$ 521
2025	643
2026	1,060
2027	503
2028	616
Thereafter	$ 4,290

Long-Term Debt and Credit Fac_5

Long-Term Debt and Credit Facilities - Narrative (Details) - USD ($)	1 Months Ended	3 Months Ended	8 Months Ended
	Nov. 30, 2022	Mar. 31, 2023	Aug. 31, 2022	Dec. 31, 2023
Revolving Credit Facility
Debt Instrument [Line Items]
Unused borrowing capacity				$ 3,574,000,000
Amended Foreign Revolving Credit Facility 1500 Million Capacity
Debt Instrument [Line Items]
Debt instrument term	5 years
Maximum borrowing capacity	$ 3,000,000,000
Three Year Notes at 4.800 Percent Number
Debt Instrument [Line Items]
Face amount		$ 500,000,000
Debt instrument term		3 years
Fixed interest rate		4.80%
Five Year Notes at 4.600 Percent Number
Debt Instrument [Line Items]
Face amount		$ 500,000,000
Debt instrument term		5 years
Fixed interest rate		4.60%
Ten Year Notes at 4.600 Percent Number
Debt Instrument [Line Items]
Face amount		$ 500,000,000
Debt instrument term		10 years
Fixed interest rate		4.60%
Three year notes at 3.100 percent number
Debt Instrument [Line Items]
Face amount			$ 500,000,000
Debt instrument term			3 years
Fixed interest rate			3.10%
Five year notes at 3.100 percent number
Debt Instrument [Line Items]
Face amount			$ 500,000,000
Debt instrument term			5 years
Fixed interest rate			3.10%
Ten year notes at 3.250 percent number
Debt Instrument [Line Items]
Face amount			$ 500,000,000
Debt instrument term			10 years
Fixed interest rate			3.25%

Fair Value Measurements and F_3

Fair Value Measurements and Financial Instruments - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($) country	Dec. 31, 2022 USD ($)
Debt Instrument [Line Items]
Minimum number of countries and territories serving consumers (more than) (in countries and territories) | country	200
Carrying Value
Debt Instrument [Line Items]
Carrying value of long-term debt	$ 8,239	$ 8,755
Fair Value, Inputs, Level 2
Debt Instrument [Line Items]
Estimated fair value of long-term debt	$ 7,862	$ 8,184

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	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Designated derivative instruments
Derivative asset	$ 19	$ 23
Derivative liability	26	15
Other financial instruments
Investments fair value	$ 179	$ 175
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Other current assets	Other current assets
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Other accruals	Other accruals
Cash Flow Hedges
Other financial instruments
Gain (loss) reclassified from AOCI into income	$ 4	$ 20
Gain (loss) on derivative instrument	(6)	100
Foreign currency contracts
Designated derivative instruments
Derivative asset	19	19
Derivative liability	25	15
Foreign currency contracts | Cash Flow Hedges
Other financial instruments
Gain (loss) on derivative instrument	(13)	9
Foreign currency contracts | Cash Flow Hedges | Cost of Sales
Other financial instruments
Gain (loss) reclassified from AOCI into income	(3)	13
Commodity contracts
Designated derivative instruments
Derivative asset	0	4
Derivative liability	1	0
Commodity contracts | Cash Flow Hedges
Other financial instruments
Gain (loss) on derivative instrument	(3)	9
Commodity contracts | Cash Flow Hedges | Cost of Sales
Other financial instruments
Gain (loss) reclassified from AOCI into income	(1)	5
Forward-starting interest rate swaps | Cash Flow Hedges
Other financial instruments
Gain (loss) on derivative instrument	10	82
Forward-starting interest rate swaps | Cash Flow Hedges | Interest (income) expense, net
Other financial instruments
Gain (loss) reclassified from AOCI into income	8	2
Other current assets
Other financial instruments
Marketable securities	$ 179	$ 175

Fair Value Measurements and F_5

Fair Value Measurements and Financial Instruments - Schedule of Notional Values (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Fair Value Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Notional value of derivative	$ 1,625	$ 609
Fair Value Hedges | Interest (income) expense, net
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Interest (income) expense, net
Fair Value Hedges | Foreign currency contracts
Derivative Instruments, Gain (Loss) [Line Items]
Notional value of derivative	$ 1,625	609
Fair Value Hedges | Foreign Currency Debt
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	908	866
Gain (loss) reclassified from AOCI into income	$ 4	20
Cash Flow Hedges | Interest (income) expense, net
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Selling, general and administrative expenses
Cash Flow Hedges | Foreign currency contracts
Derivative Instruments, Gain (Loss) [Line Items]
Notional value of derivative	$ 869	840
Cash Flow Hedges | Foreign currency contracts | Cost of Sales
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) reclassified from AOCI into income	(3)	13
Cash Flow Hedges | Foreign Currency Debt
Derivative Instruments, Gain (Loss) [Line Items]
Notional value of derivative	0	0
Cash Flow Hedges | Commodity contracts
Derivative Instruments, Gain (Loss) [Line Items]
Notional value of derivative	39	26
Cash Flow Hedges | Commodity contracts | Cost of Sales
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) reclassified from AOCI into income	(1)	5
Cash Flow Hedges | Forward-starting interest rate swaps | Interest (income) expense, net
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) reclassified from AOCI into income	8	2
Net Investment Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Notional value of derivative	4,188	4,935
Net Investment Hedges | Foreign currency contracts
Derivative Instruments, Gain (Loss) [Line Items]
Notional value of derivative	280	138
Net Investment Hedges | Foreign Currency Debt
Derivative Instruments, Gain (Loss) [Line Items]
Notional value of derivative	3,908	4,797
Net Investment Hedges | Commodity contracts
Derivative Instruments, Gain (Loss) [Line Items]
Notional value of derivative	$ 0	$ 0

Fair Value Measurements and F_6

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, 2023	Dec. 31, 2022
Fair Value Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative instrument	$ 29	$ 39
Cash Flow Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative instrument	(6)	100
Gain (loss) reclassified from AOCI into income	4	20
Cash Flow Hedges | Foreign currency contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative instrument	(13)	9
Cash Flow Hedges | Commodity contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative instrument	(3)	9
Cash Flow Hedges | Forward-starting interest rate swaps
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative instrument	10	82
Cost of Sales | Cash Flow Hedges | Foreign currency contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) reclassified from AOCI into income	(3)	13
Cost of Sales | Cash Flow Hedges | Commodity contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) reclassified from AOCI into income	(1)	5
Interest (income) expense, net | Fair Value Hedges | Interest Rate Swap
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative instrument	0	(5)
Interest (income) expense, net | Cash Flow Hedges | Forward-starting interest rate swaps
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) reclassified from AOCI into income	8	2
Selling, general and administrative expenses | Fair Value Hedges | Foreign currency contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative instrument	$ 29	$ 44

Fair Value Measurements and F_7

Fair Value Measurements and Financial Instruments - Schedule of Gain (Loss) Included in OCI (Details) - Net Investment Hedges - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Net investment hedges [Abstract]
Total gain (loss) on investment hedges	$ (158)	$ 213
Foreign currency contracts
Net investment hedges [Abstract]
Gain (loss) on net investment hedges	(34)	(5)
Foreign Currency Debt
Net investment hedges [Abstract]
Gain (loss) on net investment hedges	$ (124)	$ 218

Capital Stock and Stock-Based_3

Capital Stock and Stock-Based Compensation Plans - Narrative (Details)	12 Months Ended
	Dec. 31, 2023 USD ($) plan shares	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2018	Mar. 10, 2022 USD ($)
Preference Stock [Abstract]
Shares authorized (in shares) | shares	50,262,150
Stock Repurchases [Abstract]
Repurchased stock	$ 1,128,000,000	$ 1,308,000,000	$ 1,320,000,000
Stock-Based Compensation [Abstract]
Number of stockholder approved plans, current | plan	1
Total stock-based compensation expense charged against pretax income	$ 122,000,000	125,000,000	135,000,000
Total income tax benefit from stock compensation	$ 22,000,000	25,000,000	25,000,000
Additional disclosures pertaining to stock based compensation [Abstract]
Contractual term (in years)	8 years			6 years
Vesting period (in years)	3 years
Stock-based compensation, additional disclosures [Abstract]
Tax benefit from exercise of stock options and vesting of restricted stock unit awards	$ 4,000,000	2,000,000	9,000,000
Proceeds from exercise of stock options	$ 380,000,000	418,000,000	424,000,000
Stock Option Plans
Additional disclosures pertaining to stock based compensation [Abstract]
Number of shares available for grant (in shares) | shares	19,950,841
Unrecognized compensation expense	$ 24,000,000
Unrecognized compensation expense, weighted-average period of recognition in years	1 year 4 months 24 days
Stock-based compensation, additional disclosures [Abstract]
Total intrinsic value of options exercised	$ 28,000,000	47,000,000	83,000,000
Performance Shares | Incentive Stock Plans
Additional disclosures pertaining to stock based compensation [Abstract]
Vesting period (in years)	3 years
Unrecognized compensation expense	$ 26,000,000
Time-Vested Stock | Incentive Stock Plans
Additional disclosures pertaining to stock based compensation [Abstract]
Vesting period (in years)	3 years
Number of shares available for grant (in shares) | shares	8,571,208
Unrecognized compensation expense	$ 60,000,000
Unrecognized compensation expense, weighted-average period of recognition in years	1 year 7 months 6 days
Stock-based compensation, additional disclosures [Abstract]
Total fair value of shares vested	$ 45,000,000	$ 40,000,000	$ 47,000,000
Program 2022
Stock Repurchases [Abstract]
Stock repurchase program, authorized amount					$ 5,000,000,000

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, 2023	Dec. 31, 2022	Dec. 31, 2021
Common Stock Outstanding
Common stock balance, January 1 (in shares)	830,212,606	840,480,284	849,893,601
Common stock acquired (in shares)	14,735,909	17,060,788	16,518,163
Shares issued for stock options (in shares)	5,318,430	5,654,692	6,357,793
Shares issued for restricted stock and other (in shares)	617,642	1,138,418	747,053
Common stock balance, December 31 (in shares)	821,412,769	830,212,606	840,480,284
Treasury Stock
Treasury stock balance, January 1 (in shares)	635,493,754	625,226,076	615,812,759
Common stock acquired (in shares)	14,735,909	17,060,788	16,518,163
Shares issued for stock options (in shares)	5,318,430	5,654,692	6,357,793
Shares issued for restricted stock and other (in shares)	617,642	1,138,418	747,053
Treasury stock balance, December 31 (in shares)	644,293,591	635,493,754	625,226,076

Capital Stock and Stock-Based_5

Capital Stock and Stock-Based Compensation Plans - Fair Value Assumptions (Details) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-Based Payment Arrangement [Abstract]
Expected term of options	6 years	6 years	6 years
Expected volatility rate	19.80%	21.10%	20.30%
Risk-free interest rate	4.30%	3%	1%
Expected dividend yield	2.50%	2.40%	2.30%
Weighted-average estimated fair value	$ 14.89	$ 14.71	$ 11.11

Capital Stock and Stock-Based_6

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, 2023 USD ($) $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding [Roll Forward]
Options - beginning balance (in shares) | shares	24,431
Granted (in shares) | shares	2,310
Exercised (in shares) | shares	(5,318)
Forfeited (in shares) | shares	(174)
Expired (in share) | shares	(507)
Options - ending balance (in shares) | shares	20,742
Options exercisable (in shares) | shares	14,608
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Options - beginning of period (in dollars per share) | $ / shares	$ 75
Options - shares granted (in dollars per share) | $ / shares	73
Options - shares exercised (in dollars per share) | $ / shares	72
Options - shares forfeited (in dollars per share) | $ / shares	77
Options - shares expired (in dollars per share) | $ / shares	74
Options - end of period (in dollars per share) | $ / shares	75
Options exercisable - end of period (in dollars per share) | $ / shares	$ 75
Weighted average remaining contractual life, options outstanding (in years)	5 years
Weighted average remaining contractual life, options exercisable (in years)	4 years
Intrinsic value of unexercised in-the-money options, options outstanding | $	$ 97
Intrinsic value of unexercised in-the-money options, options exercisable | $	$ 74

Capital Stock and Stock-Based_7

Capital Stock and Stock-Based Compensation Plans - Summary of Performance Restricted Stock Activity (Details) - Performance Shares shares in Thousands	12 Months Ended
	Dec. 31, 2023 $ / shares shares
Shares (in thousands)
Restricted stock awards - beginning balance (in shares) | shares	1,026
Granted (in shares) | shares	393
Vested (in shares) | shares	(234)
Forfeited (in shares) | shares	(97)
Change due to performance and/or market condition achievement (in shares) | shares	(19)
Restricted stock awards - ending balance (in shares) | shares	1,069
Weighted Average Grant Date Fair Value Per Award
Restricted stock awards - beginning of period (in dollars per share) | $ / shares	$ 70
Restricted stock awards - shares granted (in dollars per share) | $ / shares	67
Restricted stock awards - shares vested (in dollars per share) | $ / shares	71
Restricted stock awards - shares forfeited (in dollars per share) | $ / shares	74
Change due to performance and/or market condition achievement (in dollars per share | $ / shares	77
Restricted stock awards - end of period (in dollars per share) | $ / shares	$ 68

Capital Stock and Stock-Based_8

Capital Stock and Stock-Based Compensation Plans - Summary of Restricted Stock Activity (Details) - Time-Vested Stock shares in Thousands	12 Months Ended
	Dec. 31, 2023 $ / shares shares
Shares (in thousands)
Restricted stock awards - beginning balance (in shares) | shares	1,860
Granted (in shares) | shares	979
Vested (in shares) | shares	(594)
Forfeited (in shares) | shares	(71)
Restricted stock awards - ending balance (in shares) | shares	2,174
Weighted Average Grant Date Fair Value Per Award
Restricted stock awards - beginning of period (in dollars per share) | $ / shares	$ 77
Restricted stock awards - shares granted (in dollars per share) | $ / shares	73
Restricted stock awards - shares vested (in dollars per share) | $ / shares	77
Restricted stock awards - shares forfeited (in dollars per share) | $ / shares	76
Restricted stock awards - end of period (in dollars per share) | $ / shares	$ 76

Employee Stock Ownership Plan (

Employee Stock Ownership Plan (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-Based Payment Arrangement [Abstract]
Shares in ESOP (in shares)	8,348,104	9,417,692
Outstanding borrowings in the ESOP	$ 0
Common shares released and allocated to participant accounts (in shares)	8,020,708
Common shares available for future allocation to participant accounts (in shares)	327,396
Annual ESOP expense	$ 0	$ 0	$ 0
Dividends paid by the Company on shares held by the ESOP	17,000,000	19,000,000	20,000,000
Company contributions to the ESOP	$ 0	$ 0	$ 0

Retirement Plans and Other Re_3

Retirement Plans and Other Retiree Benefits - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Sep. 30, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
ERISA litigation matter	$ 267		$ 267	$ 0	$ 0
Expected benefit payments from company assets			98
Employee-Related Costs  | Global Productivity Initiative
Defined Benefit Plan Disclosure [Line Items]
Other postretirement charges			$ 5
United States
Defined Benefit Plan Disclosure [Line Items]
Actuarial gain		$ 398
Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Expected long-term rate of return on plan assets			6.50%	6.25%
Pension Plans | United States
Defined Benefit Plan Disclosure [Line Items]
ERISA litigation matter	$ 267		$ 267	$ 0	0
Actuarial gain			$ (43)	$ (46)	(47)
Percentage of investments in Company's common stock			0%	0%
U.S. plans assets purchased to Company (in shares)			0	0
Defined benefit plan dividends received on employer securities			$ 0	$ 0
Expected long-term rate of return on plan assets			6.50%	6.25%
Average annual rates of return for the most recent 1-year period			10%
Average annual rates of return for the most recent 5-year period			5%
Average annual rates of return for the most recent 10-year period			4%
Average annual rates of return for the most recent 15-year period			6%
Average annual rates of return for the most recent 25-year period			5%
Other postretirement charges			$ 3	$ 13	(3)
Voluntary contributions to postretirement plans			0	0	0
Pension Plans | International
Defined Benefit Plan Disclosure [Line Items]
ERISA litigation matter			0	0	0
Actuarial gain			$ (5)	$ (7)	(11)
Expected long-term rate of return on plan assets			4.66%	4.66%
Other postretirement charges			$ 2	$ 4	1
Other Retiree Benefit Plans
Defined Benefit Plan Disclosure [Line Items]
ERISA litigation matter			0	0	0
Actuarial gain			$ (1)	(14)	(23)
Medical cost trend rate assumed for next fiscal year			6%
Ultimate medical cost trend rate			4.50%
Year which ultimate medical cost trend rate is reached			2028
Other postretirement charges			$ 0	$ 2	$ 0
Defined Benefit Plan, Health Care Cost Trend Rate Assumed			4.88%

Retirement Plans and Other Re_4

Retirement Plans and Other Retiree Benefits - Schedule of Target Asset Allocation (Details)	Dec. 31, 2023
United States
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Target asset allocation	100%
International
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Target asset allocation	100%
Equity securities | United States
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Target asset allocation	26%
Equity securities | International
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Target asset allocation	21%
Fixed income securities | United States
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Target asset allocation	60%
Fixed income securities | International
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Target asset allocation	63%
Other investments | United States
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Target asset allocation	14%
Other investments | International
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Target asset allocation	16%

Retirement Plans and Other Re_5

Retirement Plans and Other Retiree Benefits - Allocation of Plan Assets and Level of Valuation Input, by Major Asset Category (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Percent of fixed income assets invested in US treasury or agency securities	30%	40%
Minimum
Defined Benefit Plan Disclosure [Line Items]
Investment redemption notice period	0 months
Maximum
Defined Benefit Plan Disclosure [Line Items]
Investment redemption notice period	3 months
United States | Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 1,360	$ 1,363	$ 1,834
United States | Pension Plans | Fair Value, Inputs, Level 1, 2 and 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	936	744
United States | Pension Plans | Fair Value Measured at Net Asset Value Per Share
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	454	621
United States | Pension Plans | Cash and cash equivalents | Fair Value, Inputs, Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	206	30
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	0
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	20	38
United States | Pension Plans | Fixed income securities | Fair Value, Inputs, Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	710	676
United States | Pension Plans | Guaranteed investment contracts | Fair Value, Inputs, Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
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	315	260
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	99	337
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	0
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	40	24
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	0	0
United States | Pension Plans | Other assets and liabilities, net
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	(30)	(2)
International | Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	566	516	$ 723
International | Pension Plans | Fair Value, Inputs, Level 1, 2 and 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	254	214
International | Pension Plans | Fair Value Measured at Net Asset Value Per Share
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	312	302
International | Pension Plans | Cash and cash equivalents | Fair Value, Inputs, Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	14	8
International | Pension Plans | U.S. common stocks | Fair Value, Inputs, Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2	2
International | Pension Plans | International common stocks | Fair Value, Inputs, Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	20	13
International | Pension Plans | Pooled funds | Fair Value, Inputs, Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	113	95
International | Pension Plans | Fixed income securities | Fair Value, Inputs, Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	71	62
International | Pension Plans | Guaranteed investment contracts | Fair Value, Inputs, Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	34	34
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	55	61
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	219	202
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	7	7
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	1	1
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	31
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_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, 2023	Dec. 31, 2022	Dec. 31, 2021
Amounts Recognized in Balance Sheet
Current liabilities	$ (96)	$ (82)
Pension Plans
Amounts Recognized in Accumulated Other Comprehensive Income (Loss)
Accumulated benefit obligation	$ 2,204	$ 540
Weighted-Average Assumptions Used to Determine Benefit Obligations
Expected long-term rate of return on plan assets	6.50%	6.25%
Other Retiree Benefit Plans
Change in Benefit Obligations
Benefit obligations at beginning of year	$ 658	$ 1,080
Service cost	7	18	$ 26
Interest cost	38	36	35
Participants’ contributions	0	0
Plan amendments	(33)	(175)
Actuarial loss (gain)	38	(250)
Foreign exchange impact	4	2
Termination benefits	0	1
Curtailments and settlements	0	0
Benefit payments	(47)	(54)
ERISA litigation matter	0	0
Benefit obligations at end of year	665	658	1,080
Change in Plan Assets
Fair value of plan assets at beginning of year	0	0
Actual return on plan assets	0	0
Company contributions	47	54
Participants’ contributions	0	0
Foreign exchange impact	0	0
Settlements and acquisitions	0	0
Benefit payments	(47)	(54)
Fair value of plan assets at end of year	0	0	0
Funded Status
Benefit obligations at end of year	665	658	1,080
Fair value of plan assets at end of year	0	0	0
Net amount recognized	(665)	(658)
Amounts Recognized in Balance Sheet
Noncurrent assets	0	0
Current liabilities	(53)	(43)
Noncurrent liabilities	(612)	(615)
Net amount recognized	(665)	(658)
Amounts Recognized in Accumulated Other Comprehensive Income (Loss)
Actuarial loss	128	92
Transition/prior service cost(credit)	(180)	(168)
Amounts recognized in accumulated other comprehensive income	(52)	(76)
Accumulated benefit obligation	665	658
Accumulated benefit obligation	$ 0	$ 0
Weighted-Average Assumptions Used to Determine Benefit Obligations
Discount rate	5.37%	5.67%
Long-term rate of compensation increase	0%	3.50%
ESOP growth rate	6%	6%
Medical cost trend rate of increase	6%	6.25%
Interest Crediting Rate	0%	0%
United States | Pension Plans
Change in Benefit Obligations
Benefit obligations at beginning of year	$ 1,673	$ 2,207
Service cost	0	0	0
Interest cost	91	64	61
Participants’ contributions	0	0
Plan amendments	0	0
Actuarial loss (gain)	36	(430)
Foreign exchange impact	0	0
Termination benefits	3	14
Curtailments and settlements	0	(4)
Benefit payments	(148)	(178)
ERISA litigation matter	267	0
Benefit obligations at end of year	1,922	1,673	2,207
Change in Plan Assets
Fair value of plan assets at beginning of year	1,363	1,834
Actual return on plan assets	115	(321)
Company contributions	30	32
Participants’ contributions	0	0
Foreign exchange impact	0	0
Settlements and acquisitions	0	(4)
Benefit payments	(148)	(178)
Fair value of plan assets at end of year	1,360	1,363	1,834
Funded Status
Benefit obligations at end of year	1,922	1,673	2,207
Fair value of plan assets at end of year	1,360	1,363	1,834
Net amount recognized	(562)	(310)
Amounts Recognized in Balance Sheet
Noncurrent assets	1	33
Current liabilities	(28)	(25)
Noncurrent liabilities	(535)	(318)
Net amount recognized	(562)	(310)
Amounts Recognized in Accumulated Other Comprehensive Income (Loss)
Actuarial loss	767	811
Transition/prior service cost(credit)	0	0
Amounts recognized in accumulated other comprehensive income	767	811
Accumulated benefit obligation	$ 1,907	$ 1,656
Weighted-Average Assumptions Used to Determine Benefit Obligations
Discount rate	5.40%	5.66%
Expected long-term rate of return on plan assets	6.50%	6.25%
Long-term rate of compensation increase	3.50%	3.50%
ESOP growth rate	0%	0%
Medical cost trend rate of increase	0%	0%
Interest Crediting Rate	4.99%	5.21%
International | Pension Plans
Change in Benefit Obligations
Benefit obligations at beginning of year	$ 675	$ 937
Service cost	15	15	19
Interest cost	33	21	20
Participants’ contributions	5	5
Plan amendments	0	2
Actuarial loss (gain)	65	(190)
Foreign exchange impact	29	(56)
Termination benefits	2	0
Curtailments and settlements	(6)	(27)
Benefit payments	(42)	(32)
ERISA litigation matter	0	0
Benefit obligations at end of year	776	675	937
Change in Plan Assets
Fair value of plan assets at beginning of year	516	723
Actual return on plan assets	26	(139)
Company contributions	39	35
Participants’ contributions	5	5
Foreign exchange impact	27	(49)
Settlements and acquisitions	(5)	(27)
Benefit payments	(42)	(32)
Fair value of plan assets at end of year	566	516	723
Funded Status
Benefit obligations at end of year	776	675	937
Fair value of plan assets at end of year	566	516	$ 723
Net amount recognized	(210)	(159)
Amounts Recognized in Balance Sheet
Noncurrent assets	48	51
Current liabilities	(15)	(14)
Noncurrent liabilities	(243)	(196)
Net amount recognized	(210)	(159)
Amounts Recognized in Accumulated Other Comprehensive Income (Loss)
Actuarial loss	177	137
Transition/prior service cost(credit)	9	10
Amounts recognized in accumulated other comprehensive income	186	147
Accumulated benefit obligation	$ 719	$ 616
Weighted-Average Assumptions Used to Determine Benefit Obligations
Discount rate	4.35%	4.75%
Expected long-term rate of return on plan assets	4.66%	4.66%
Long-term rate of compensation increase	3.19%	3.22%
ESOP growth rate	0%	0%
Medical cost trend rate of increase	0%	0%
Interest Crediting Rate	1.13%	2.28%

Retirement Plans and Other Re_7

Retirement Plans and Other Retiree Benefits - Benefit Obligation Exceeds Fair Value of Plan Assets (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation	$ 2,352	$ 657
Fair value of plan assets	1,532	108
Accumulated benefit obligation	2,204	540
Fair value of plan assets	1,428	20
Other Retiree Benefit Plans
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligation	0	0
Fair value of plan assets	$ 0	$ 0

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, 2023	Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligation	$ 665	$ 658
Fair value of plan assets	$ 0	$ 0

Retirement Plans and Other Re_9

Retirement Plans and Other Retiree Benefits - Summary of Net Periodic Benefit Costs (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Sep. 30, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Components of Net Periodic Benefit Cost
ERISA litigation matter	$ 267		$ 267	$ 0	$ 0
Other Retiree Benefit Plans
Components of Net Periodic Benefit Cost
Service cost			7	18	26
Interest cost			38	36	35
Expected return on plan assets			0	0	0
Amortization of transition and prior service costs (credits)			(20)	(6)	0
Amortization of actuarial loss			1	14	23
Net periodic benefit cost			26	62	84
Other postretirement charges			0	2	0
ERISA litigation matter			0	0	0
Total pension cost			$ 26	$ 64	$ 84
Weighted-Average Assumptions Used to Determine Net Periodic Benefit Cost
Discount rate			5.67%	3.06%	2.88%
Expected long-term rate of return on plan assets					5.70%
Long-term rate of compensation increase			0%	0%	0%
ESOP growth rate			6%	6%	10%
Medical cost trend rate of increase			6.25%	6%	6%
Interest Crediting Rate			0%	0%	0%
United States
Components of Net Periodic Benefit Cost
Amortization of actuarial loss		$ (398)
United States | Pension Plans
Components of Net Periodic Benefit Cost
Service cost			$ 0	$ 0	$ 0
Interest cost			91	64	61
Expected return on plan assets			(79)	(101)	(106)
Amortization of transition and prior service costs (credits)			0	0	0
Amortization of actuarial loss			43	46	47
Net periodic benefit cost			55	9	2
Other postretirement charges			3	13	(3)
ERISA litigation matter	$ 267		267	0	0
Total pension cost			$ 325	$ 22	$ (1)
Weighted-Average Assumptions Used to Determine Net Periodic Benefit Cost
Discount rate			5.66%	2.98%	2.65%
Expected long-term rate of return on plan assets			6.25%	5.70%	5.70%
Long-term rate of compensation increase			3.50%	3.50%	3.50%
ESOP growth rate			0%	0%	0%
Medical cost trend rate of increase			0%	0%	0%
Interest Crediting Rate			5.21%	2.82%	2.48%
International | Pension Plans
Components of Net Periodic Benefit Cost
Service cost			$ 15	$ 15	$ 19
Interest cost			33	21	20
Expected return on plan assets			(25)	(21)	(20)
Amortization of transition and prior service costs (credits)			1	1	1
Amortization of actuarial loss			5	7	11
Net periodic benefit cost			29	23	31
Other postretirement charges			2	4	1
ERISA litigation matter			0	0	0
Total pension cost			$ 31	$ 27	$ 32
Weighted-Average Assumptions Used to Determine Net Periodic Benefit Cost
Discount rate			4.75%	2.10%	1.61%
Expected long-term rate of return on plan assets			4.66%	2.72%	2.93%
Long-term rate of compensation increase			3.22%	2.89%	2.62%
ESOP growth rate			0%	0%	0%
Medical cost trend rate of increase			0%	0%	0%
Interest Crediting Rate			2.28%	0.84%	0.83%

Retirement Plans and Other R_10

Retirement Plans and Other Retiree Benefits - Expected Contributions and Benefit Payments (Details) $ in Millions	Dec. 31, 2023 USD ($)
Total benefit payments [Abstract]
2024	$ 483
2025	237
2026	245
2027	242
2028	245
2029-2033	1,186
Other Retiree Benefit Plans
Total benefit payments [Abstract]
2024	53
2025	54
2026	54
2027	54
2028	53
2029-2033	261
United States | Pension Plans
Total benefit payments [Abstract]
2024	384
2025	142
2026	146
2027	144
2028	144
2029-2033	667
International | Pension Plans
Total benefit payments [Abstract]
2024	46
2025	41
2026	45
2027	44
2028	48
2029-2033	$ 258

Income Taxes - Components of In

Income Taxes - Components of Income Before Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
United States	$ 692	$ 1,169	$ 1,256
International	2,700	1,491	1,831
Income before income taxes	$ 3,392	$ 2,660	$ 3,087

Income Taxes - Provision for In

Income Taxes - Provision for Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
United States	$ 72	$ 199	$ 228
International	865	494	521
Total Provision for income taxes	$ 937	$ 693	$ 749

Income Taxes - Income Tax Provi

Income Taxes - Income Tax Provision Reconciliation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Goodwill and intangible assets	$ 1	$ 106	$ 50
Property, plant and equipment	(13)	2	(19)
Pension and other retiree benefits	68	(1)	(4)
Stock-based compensation	2	(3)	11
Right-of-use assets/lease liabilities	1	(5)	(2)
Tax credits and tax loss carryforwards, net of valuation allowance	29	8	(2)
Deferred withholding tax	7	8	(16)
Research and Experimentation Capitalization	29	58	0
Other, net	11	(10)	19
Total deferred tax benefit (provision)	$ 135	$ 163	$ 37

Income Taxes - Effective Tax Ra

Income Taxes - Effective Tax Rate Reconciliation (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Tax at United States statutory rate	21%	21%	21%
State income taxes, net of federal benefit	(0.10%)	0.80%	1.10%
Earnings taxed at other than United States statutory rate	5.40%	5.40%	2.70%
Non-deductible goodwill impairment charges	0%	1.90%	2.20%
Foreign-derived intangible income benefit	(2.40%)	(2.60%)	(2.20%)
Foreign tax matter	3.70%	0%	0%
Other, net	0%	(0.40%)	(0.50%)
Effective tax rate	27.60%	26.10%	24.30%

Income Taxes - Components of De

Income Taxes - Components of Deferred Tax Assets (Liabilities) (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Deferred tax liabilities:
Goodwill and intangible assets	$ (412)	$ (405)
Property, plant and equipment	(420)	(375)
Right-of-use assets	(126)	(118)
Deferred withholding tax	(96)	(103)
Other	(34)	(27)
Total deferred tax liabilities	(1,088)	(1,028)
Deferred tax assets:
Pension and other retiree benefits	295	214
Tax credits and tax loss carryforwards	356	169
Lease liabilities	134	125
Accrued liabilities	221	218
Stock-based compensation	75	73
Research and Experimentation Capitalization	87	58
Other	60	52
Total deferred tax assets	1,228	909
Valuation Allowance	(287)	(129)
Net deferred tax assets	941	780
Net deferred income taxes	$ (147)	$ (248)

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Income tax expense (benefit) allocated directly to equity		$ (19)	$ 164	$ 146
Unrecognized tax benefits that would impact effective tax rate		304
Interest (income) expense recognized related to unrecognized tax benefits		10	8	10
Accrued interest related to unrecognized tax benefits		45	40	35
Cumulative effect of change in tax position	$ 148
Withholding tax reserves, prior year reversals	$ 22	61	$ 21	$ 20
Tax plus interest for years 2010 through 2018		$ 145

Income Taxes - Unrecognized Tax

Income Taxes - Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Unrecognized tax benefits:
Balance, January 1		$ 298	$ 245	$ 227
Increases as a result of tax positions taken during the current year		73	32	26
Decreases of tax positions taken during prior years	$ (22)	(61)	(21)	(20)
Increases of tax positions taken during prior years		6	46	40
Decreases as a result of settlements with taxing authorities and the expiration of statutes of limitations		(2)	(2)	(23)
Effect of foreign currency rate movements		0	(2)	(5)
Balance, December 31		$ 314	$ 298	$ 245

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	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Net income attributable to Colgate-Palmolive Company
Basic EPS	$ 2,300	$ 1,785	$ 2,166
Diluted EPS	$ 2,300	$ 1,785	$ 2,166
Shares (millions)
Basic EPS (in shares)	827.4	836.4	845
Stock options and restricted stock units (in shares)	1.8	2.4	3.3
Diluted EPS (in shares)	829.2	838.8	848.3
Per Share
Basic EPS (in dollars per share)	$ 2.78	$ 2.13	$ 2.56
Diluted EPS (in dollars per share)	$ 2.77	$ 2.13	$ 2.55

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details) - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
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)	13,719,286	5,236,371	2,495,393
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)	1,183	155,118	126,378

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	1 Months Ended	3 Months Ended	12 Months Ended
	Apr. 30, 2019 USD ($)	Mar. 31, 2023 USD ($)	Dec. 31, 2023 USD ($) case countryAndTerritory	Dec. 31, 2022 USD ($) case	Dec. 31, 2021 USD ($)	Jul. 31, 2017 USD ($)	Dec. 31, 2005 USD ($)
Loss Contingencies [Line Items]
Contractual commitments, amount			$ 757
Number of countries in which entity operates (more than) | countryAndTerritory			200
Brazilian internal revenue authority, matter 1			$ 133
Loss contingency, pending claims, number (in cases) | case			3
Loss contingency, number of cases on appeal | case			2
Brazilian internal revenue authority, matter 2							$ 59
Fine imposed by Greek competition authority						$ 11
Adjusted fine imposed by Greek competition authority	$ 10.5
Loss contingency, pending claims, number (in cases) | case			278	227
Loss contingency, new claims filed, number (in cases) | case			169
Loss contingency, claims dismissed or settled, number (in cases) | case			118
ERISA litigation matter		$ 267	$ 267	$ 0	$ 0
Minimum
Loss Contingencies [Line Items]
Range of reasonably possible losses			0
Maximum
Loss Contingencies [Line Items]
Range of reasonably possible losses			$ 300

Segment Information - Narrative

Segment Information - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($) segment	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Segment Reporting Information [Line Items]
Number of operating segments (in segments) | segment	2
Number of geographically reportable operating segments (in segments) | segment	5
Restructuring costs	$ 24	$ 90	$ 0
Goodwill and intangible assets impairment charges			571
Restructuring and related cost, incurred cost	1	0
Gain on the sale of land	$ 0	47	0
Value added tax			$ (26)
Asia Pacific
Segment Reporting Information [Line Items]
Gain on the sale of land		47
Global Growth and Efficiency Program
Segment Reporting Information [Line Items]
Restructuring, Incurred Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]	Operating profit		Operating profit
Restructuring and related cost, incurred cost		95
Global Productivity Initiative
Segment Reporting Information [Line Items]
Restructuring and related cost, incurred cost	$ 32	110
Operating Profit | Corporate
Segment Reporting Information [Line Items]
Acquisition-related costs		19
Operating Profit | Operating Segments
Segment Reporting Information [Line Items]
Goodwill and intangible assets impairment charges		$ 721
Operating Profit | Global Productivity Initiative | Corporate
Segment Reporting Information [Line Items]
Restructuring costs	27
Operating Profit | Product Recall Cost | Corporate
Segment Reporting Information [Line Items]
Restructuring costs	$ 25
Sales Revenue, Net
Segment Reporting Information [Line Items]
Percentage of consolidated Net sales represented by sales outside US	67%
Percentage of consolidated Net sales coming from emerging markets	45%
Sales Revenue, Net | Customer Concentration Risk | Walmart, Inc.
Segment Reporting Information [Line Items]
Percentage of consolidated sales represented by one customer	11%	11%	12%

Segment Information - Schedule

Segment Information - Schedule of Segment Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Net sales	$ 19,457	$ 17,967	$ 17,421
Operating profit	3,984	2,893	3,332
Capital expenditures	705	696	567
Depreciation and amortization	567	545	556
Identifiable assets	$ 16,393	$ 15,731
Percentage of corporate identifiable assets consisting of investments in equity securities	98%	95%
Total long lived assets	$ 5,073	$ 4,785
United States
Segment Reporting Information [Line Items]
Total long lived assets	2,733	2,569
Non-US
Segment Reporting Information [Line Items]
Total long lived assets	2,340	2,216
Oral, Personal and Home Care | United States
Segment Reporting Information [Line Items]
Net sales	3,625	3,511	3,391
Pet Nutrition | United States
Segment Reporting Information [Line Items]
Net sales	2,918	2,432	2,018
Operating Segments | Oral, Personal and Home Care
Segment Reporting Information [Line Items]
Net sales	15,167	14,254	14,110
Operating profit	3,882	3,348	3,495
Capital expenditures	311	308	332
Depreciation and amortization	372	387	395
Identifiable assets	13,222	12,851
Operating Segments | Oral, Personal and Home Care | North America
Segment Reporting Information [Line Items]
Net sales	3,925	3,816	3,694
Operating profit	892	761	754
Capital expenditures	46	66	87
Depreciation and amortization	99	106	104
Identifiable assets	3,924	4,012
Operating Segments | Oral, Personal and Home Care | Latin America
Segment Reporting Information [Line Items]
Net sales	4,640	3,982	3,663
Operating profit	1,417	1,108	1,012
Capital expenditures	146	121	118
Depreciation and amortization	98	93	88
Identifiable assets	2,987	2,603
Operating Segments | Oral, Personal and Home Care | Europe
Segment Reporting Information [Line Items]
Net sales	2,737	2,548	2,841
Operating profit	552	514	682
Capital expenditures	44	31	44
Depreciation and amortization	82	90	98
Identifiable assets	3,542	3,457
Operating Segments | Oral, Personal and Home Care | Asia Pacific
Segment Reporting Information [Line Items]
Net sales	2,782	2,826	2,867
Operating profit	767	737	844
Capital expenditures	65	60	50
Depreciation and amortization	84	89	96
Identifiable assets	2,071	2,085
Operating Segments | Oral, Personal and Home Care | Africa/Eurasia
Segment Reporting Information [Line Items]
Net sales	1,083	1,082	1,045
Operating profit	254	228	203
Capital expenditures	10	30	33
Depreciation and amortization	9	9	9
Identifiable assets	698	694
Operating Segments | Pet Nutrition
Segment Reporting Information [Line Items]
Net sales	4,290	3,713	3,311
Operating profit	806	850	901
Capital expenditures	301	297	147
Depreciation and amortization	101	65	62
Identifiable assets	3,084	2,804
Corporate
Segment Reporting Information [Line Items]
Operating profit	(704)	(1,305)	(1,064)
Capital expenditures	93	91	88
Depreciation and amortization	94	93	$ 99
Identifiable assets	$ 87	$ 76

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($) leaseRenewalOption	Dec. 31, 2022 USD ($)
Leases [Abstract]
Number of lease renewal options (one or more) | leaseRenewalOption	1
Operating lease, payments	$ 171	$ 169
Right-of-use asset obtained in exchange for operating lease liability	$ 139	$ 85
Operating lease, weighted average remaining lease term	8 years	7 years
Operating lease, weighted average discount rate	4.50%	3.90%

Leases - Balance Sheet (Details

Leases - Balance Sheet (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Other assets	$ 491	$ 478
Other accruals	95	108
Other liabilities	420	397
Total operating lease liabilities	$ 515	$ 505
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other assets	Other assets
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Other accruals	Other accruals
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other liabilities	Other liabilities

Leases - Schedule of Minimum Le

Leases - Schedule of Minimum Lease Commitments (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
2024	$ 117
2025	99
2026	79
2027	71
2028	57
Thereafter	199
Total lease commitments	622
Less: Interest	(107)
Present value of lease liabilities	$ 515	$ 505

Leases - Schedule of Lease Cost

Leases - Schedule of Lease Cost (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Operating lease cost	$ 136	$ 138
Short-term lease cost	3	5
Variable lease cost	20	18
Sublease Income	(2)	(1)
Total lease cost	$ 157	$ 160

Supplemental Income Statement_3

Supplemental Income Statement Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Other (income) expense, net
Amortization of intangible assets	$ 72	$ 80	$ 89
Equity income	(17)	(12)	(12)
2022 Global Productivity Initiative	24	90	0
Product recall costs	25	0	0
Losses (gains) from marketable securities and other assets	11	(22)	(8)
Indirect tax payments (refunds)	18	(14)	(5)
Gain on the sale of land in Asia Pacific	0	(47)	0
Acquisition-related costs	0	19	0
Value-added tax matter in Brazil	0	0	(26)
Other, net	58	(25)	27
Total Other (income) expense, net	191	69	65
Interest (income) expense, net
Interest incurred	299	172	120
Interest capitalized	(12)	(5)	(3)
Interest income	(55)	(14)	(17)
Loss on early extinguishment of debt	0	0	75
Total Interest (income) expense, net	232	153	175
Research and development	343	320	307
Advertising	$ 2,371	$ 1,997	$ 2,021

Supplemental Balance Sheet In_3

Supplemental Balance Sheet Information - Schedule of Inventories by Major Class (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Inventories
Raw materials and supplies	$ 606	$ 666
Work-in-process	46	48
Finished goods	1,411	1,508
Total Inventories, net	2,063	2,222
Non-current inventory, net	(129)	(148)
Current Inventories, net	$ 1,934	$ 2,074

Supplemental Balance Sheet In_4

Supplemental Balance Sheet Information - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Balance Sheet Related Disclosures [Abstract]
Inventories valued under LIFO	$ 471	$ 458
Excess of current cost over LIFO cost	$ 120	$ 146

Supplemental Balance Sheet In_5

Supplemental Balance Sheet Information - Schedule of Property, Plant and Equipment (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Property, plant and equipment, net
Land	$ 227	$ 180
Buildings	2,047	1,825
Manufacturing machinery and equipment	6,365	6,001
Other equipment	1,647	1,577
Property, plant and equipment, gross	10,286	9,583
Accumulated depreciation	(5,704)	(5,276)
Property, plant and equipment, net	$ 4,582	$ 4,307

Supplemental Balance Sheet In_6

Supplemental Balance Sheet Information - Schedule of Other Accruals (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Other accruals
Accrued advertising and coupon redemption	$ 882	$ 774
Accrued payroll and employee benefits	403	329
Accrued taxes other than income taxes	167	133
Restructuring accrual	11	39
Pension and other retiree benefits	96	82
Lease liabilities due in one year	95	108
Accrued interest	78	59
Derivatives	26	15
Other	619	572
Other accruals	$ 2,377	$ 2,111

Supplemental Balance Sheet In_7

Supplemental Balance Sheet Information - Schedule of Other Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Other liabilities
Pension and other retiree benefits	$ 1,390	$ 1,129
Long-term lease liabilities	420	397
Other	305	271
Total Other liabilities	$ 2,115	$ 1,797

Supplemental Other Comprehens_3

Supplemental Other Comprehensive Income (Loss) Information - Schedule of Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other comprehensive income (loss), net of tax	$ 75	$ 327	$ (43)
Accumulated Other Comprehensive Income (Loss)
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other comprehensive income (loss), net of tax	117	331	(41)
Cumulative translation adjustments, pre-tax
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other comprehensive income (loss), pretax	127	(113)	(99)
Tax amounts	13	(29)	(92)
Other comprehensive income (loss), net of tax	140	(142)	(191)
Retirement Plan and other retiree benefit adjustments, pre-tax
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other comprehensive income (loss), before reclassifications, pretax	(49)	466	102
Reclassification from AOCI, pretax	30	62	82
Other comprehensive income (loss), pretax	(19)	528	184
Tax amounts	3	(115)	(50)
Other comprehensive income (loss), net of tax	(16)	413	134
Gains (losses) on cash flow hedges, pre-tax
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other comprehensive income (loss), before reclassifications, pretax	(6)	100	13
Reclassification from AOCI, pretax	(4)	(20)	7
Other comprehensive income (loss), pretax	(10)	80	20
Tax amounts	3	(20)	(4)
Other comprehensive income (loss), net of tax	$ (7)	$ 60	$ 16

Supplemental Other Comprehens_4

Supplemental Other Comprehensive Income (Loss) Information - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Equity [Abstract]
Unrecognized pension and other retiree benefit costs, aftertax	$ 647	$ 631
Foreign currency translation adjustments	$ 3,351	$ (3,491)

Schedule II - Valuation and Q_2

Schedule II - Valuation and Qualifying Accounts (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
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	$ 70	$ 78	$ 89
Charged to Costs and Expenses, additions	17	4	35
Other, additions	0	0	0
Deductions	7	12	46
Ending balance of valuation allowance and reserves	80	70	78
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	129	120	96
Charged to Costs and Expenses, additions	158	14	27
Other, additions	0	0	0
Deductions	0	5	3
Ending balance of valuation allowance and reserves	$ 287	$ 129	$ 120