Colgate-Palmolive (CL) 10-Q 30 Jul 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - Jun. 30, 2015 - shares	Total
Entity Information [Line Items]
Entity Registrant Name	COLGATE PALMOLIVE CO
Entity Central Index Key	21,665
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Common Stock, Shares Outstanding	900,131,529
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Amendment Flag	false
Trading Symbol	CL
Document Period End Date	Jun. 30, 2015

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015USD ($)$ / shares	Jun. 30, 2014USD ($)$ / shares	Jun. 30, 2015USD ($)Dividend$ / shares		Jun. 30, 2014USD ($)Dividend$ / shares
Net sales	$ 4,066	$ 4,352	$ 8,136		$ 8,677
Cost of sales	1,699	1,800	3,377		3,601
Gross profit	2,367	2,552	4,759		5,076
Selling, general and administrative expenses	1,381	1,507	2,831		3,051
Other (income) expense, net	54	65	136		411
Operating profit	932	980	1,792		1,614
Interest (income) expense, net	6	9	14		16
Income before income taxes	926	971	1,778		1,598
Provision for income taxes	310	310	579		505
Net income including noncontrolling interests	616	661	1,199		1,093
Less: Net income attributable to noncontrolling interests	42	39	83		83
Net income attributable to Colgate-Palmolive Company	$ 574	$ 622	$ 1,116		$ 1,010
Earnings per common share, basic (in dollars per share) | $ / shares	$ 0.63	$ 0.68	$ 1.23		$ 1.10
Earnings per common share, diluted (in dollars per share) | $ / shares	0.63	0.67	1.22		1.09
Dividends declared per common share (in dollars per share) | $ / shares	$ 0.38	$ 0.36	$ 1.12	[1]	$ 1.06	[1]
Number of Dividends Declared Per Quarter | Dividend			2		2
[1]	Two dividends were declared in the first quarter of 2015 and 2014.

CONDENSED CONSOLIDATED STATEME3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Net income including noncontrolling interests	$ 616	$ 661	$ 1,199	$ 1,093
Other comprehensive income (loss), net of tax:
Cumulative translation adjustments	66	25	(285)	(19)
Retirement Plan and other retiree benefit adjustments	14	8	27	21
Gains (losses) on available-for-sale securities	(7)	4	(8)	(52)
Gains (losses) on cash flow hedges	(3)	(4)	(3)	(4)
Total Other comprehensive income (loss), net of tax	70	33	(269)	(54)
Total Comprehensive income including noncontrolling interests	686	694	930	1,039
Less: Net income attributable to noncontrolling interests	42	39	83	83
Less: Cumulative translation adjustments attributable to noncontrolling interests	(1)	0	0	(1)
Total Comprehensive Income attributable to noncontrolling interests	41	39	83	82
Total Comprehensive income attributable to Colgate-Palmolive Company	$ 645	$ 655	$ 847	$ 957

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Current Assets
Cash and cash equivalents	$ 1,059	$ 1,089
Receivables (net of allowances of $61 and $54, respectively)	1,691	1,552
Inventories	1,324	1,382
Other current assets	914	840
Total current assets	4,988	4,863
Property, plant and equipment:
Cost	8,418	8,385
Less: Accumulated depreciation	(4,379)	(4,305)
Property, plant and equipment, net	4,039	4,080
Goodwill	2,241	2,307
Other intangible assets, net	1,371	1,413
Deferred income taxes	144	76
Other assets	877	720
Total assets	13,660	13,459
Current Liabilities
Notes and loans payable	9	16
Current portion of long-term debt	488	488
Accounts payable	1,169	1,231
Accrued income taxes	297	294
Other accruals	2,243	1,917
Total current liabilities	4,206	3,946
Long-term debt	6,186	5,644
Deferred income taxes	261	261
Other liabilities	2,250	2,223
Total liabilities	12,903	12,074
Shareholders' Equity
Common stock	1,466	1,466
Additional paid-in capital	1,310	1,236
Retained earnings	18,936	18,832
Accumulated other comprehensive income (loss)	(3,776)	(3,507)
Unearned compensation	(9)	(20)
Treasury stock, at cost	(17,473)	(16,862)
Total Colgate-Palmolive Company shareholders' equity	454	1,145
Total shareholders’ equity	303	240
Total shareholders' equity	757	1,385
Total liabilities and shareholders’ equity	$ 13,660	$ 13,459

CONDENSED CONSOLIDATED BALANCE5

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parentheticals) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Current Assets
Allowance for doubtful accounts	$ 61	$ 54

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Operating Activities
Net income including noncontrolling interests	$ 1,199	$ 1,093
Adjustments to reconcile net income including noncontrolling interests to net cash provided by operations:
Depreciation and amortization	225	215
Restructuring and termination benefits, net of cash	59	68
Venezuela remeasurement charges	16	266
Stock-based compensation expense	51	54
Deferred income taxes	(60)	(37)
Cash effects of changes in:
Receivables	(222)	(198)
Inventories	8	(90)
Accounts payable and other accruals	(77)	(8)
Other non-current assets and liabilities	24	26
Net cash provided by operations	1,223	1,389
Investing Activities
Capital expenditures	(280)	(314)
Purchases of marketable securities and investments	(365)	(165)
Proceeds from sale of marketable securities and investments	195	177
Payments for acquisitions, net of cash acquired	0	(25)
Other	12	13
Net cash used in investing activities	(438)	(314)
Financing Activities
Principal payments on debt	(4,178)	(4,282)
Proceeds from issuance of debt	4,686	4,707
Dividends paid	(689)	(662)
Purchases of treasury shares	(767)	(746)
Proceeds from exercise of stock options and excess tax benefits	192	153
Net cash used in financing activities	(756)	(830)
Effect of exchange rate changes on Cash and cash equivalents	(59)	(46)
Net (decrease) increase in Cash and cash equivalents	(30)	199
Cash and cash equivalents at beginning of the period	1,089	962
Cash and cash equivalents at end of the period	1,059	1,161
Supplemental Cash Flow Information
Income taxes paid	$ 640	$ 514

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The Condensed Consolidated Financial Statements reflect all normal recurring adjustments which, in management’s opinion, are necessary for a fair statement of the results for interim periods. Results of operations for interim periods may not be representative of results to be expected for a full year. Certain prior year amounts have been reclassified to conform to the current year presentation. For a complete set of financial statement notes, including the significant accounting policies of Colgate-Palmolive Company (together with its subsidiaries, the “Company” or “Colgate”), refer to the Company’s Annual Report on Form 10-K for the year ended December 31, 2014 , filed with the Securities and Exchange Commission.

Use of Estimates

Use of Estimates	6 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Use of Estimates	Use of Estimates Provisions for certain expenses, including income taxes, media advertising and consumer promotion, are based on full year assumptions and are included in the accompanying Condensed Consolidated Financial Statements in proportion with estimated annual tax rates, the passage of time or estimated annual sales.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	6 Months Ended
	Jun. 30, 2015
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements On April 7, 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2015-03 “Simplifying the Presentation of Debt Issuance Costs,” which requires that debt issuance costs be presented in the balance sheet as a direct deduction from the carrying amount of related debt liability, consistent with debt discounts. Under current accounting standards, such costs are recorded as an asset. The new guidance is effective for the Company beginning January 1, 2016, with early adoption permitted. This new guidance is not expected to have a material impact on the Company’s Consolidated Financial Statements. On February 18, 2015, the FASB issued ASU No. 2015-02 “Consolidation (Topic 810): Amendments to the Consolidation Analysis” that amends the current consolidation guidance. The amendments affect both the variable interest entity and voting interest entity consolidation models. The new guidance is effective for the Company beginning January 1, 2016, with early adoption permitted. This new guidance is not expected to have a material impact on the Company’s Consolidated Financial Statements. On May 28, 2014, the FASB and the International Accounting Standards Board (“IASB”) issued their final converged standard on revenue recognition. The standard, issued as ASU No. 2014-09 “Revenue from Contracts with Customers” by the FASB, provides a single, comprehensive revenue recognition model for all contracts with customers and supersedes current revenue recognition guidance. The revenue standard contains principles that an entity will apply to determine the measurement of revenue and timing of when it is recognized. The underlying principle is that an entity will recognize revenue to depict the transfer of goods or services to customers at an amount that the entity expects to be entitled to in exchange for those goods or services. The new standard also includes enhanced disclosures which are significantly more comprehensive than those in existing revenue standards. ASU No. 2014-09 was to be effective for the Company beginning January 1, 2017. However, on July 9, 2015, the FASB voted to approve a one-year deferral of the effective date. This new guidance is now expected to be effective for the Company beginning January 1, 2018. The standard allows for either “full retrospective” adoption, meaning the standard is applied to all of the periods presented, or “modified retrospective” adoption, meaning the standard is applied only to the most current period presented in the financial statements. While the Company is currently assessing the impact of the new standard, it does not expect this new guidance to have a material impact on its Consolidated Financial Statements.

Acquisitions and Divestitures

Acquisitions and Divestitures	6 Months Ended
	Jun. 30, 2015
Business Combinations [Abstract]
Acquisitions and Divestitures	Acquisitions and Divestitures Acquisition On October 3, 2014, the Company acquired an oral care business in Myanmar for $62 in cash plus additional consideration contingent upon achievement of performance targets under a distribution services agreement. Sale of Land in Mexico On September 13, 2011, the Company’s Mexican subsidiary entered into an agreement to sell to the United States of America (the “Purchaser”) the Mexico City site on which its commercial operations, technology center and soap production facility were located. The sale price is payable in three installments. During the third quarter of 2011, the Company received the first installment of $24 upon signing the agreement. During the third quarter of 2012, the Company received the second installment of $36 . The parties have subsequently amended that agreement to extend the closing date. Under the existing agreement, the final installment of the purchase price is due upon the transfer of the property, which is subject to the Company’s satisfaction of certain closing conditions relating to site preparation by September 15, 2015. While these conditions are not expected to be fully satisfied by September 15, 2015, in which case the Purchaser has several options under the agreement (including termination and the return to it of the first two installments of the purchase price), based on the discussions to date, the Company believes that an additional amendment will be negotiated and the transfer of the property is likely to occur in the first half of 2016. The Company has reinvested the first two installments to relocate its soap production to a new state-of-the-art facility at its Mission Hills, Mexico site, to relocate its commercial and technology operations within Mexico City and to prepare the existing site for transfer. Exit costs incurred during the project primarily relate to staff leaving indemnities, accelerated depreciation and demolition to make the site building-ready. During the three months ended June 30, 2015 and 2014 , the Company recorded $0 and $2 of pretax costs ( $0 and $1 of aftertax costs), respectively, related to the sale. During the six months ended June 30, 2015 and 2014 , the Company recorded $0 and $3 of pretax costs ( $0 and $2 of aftertax costs), respectively, related to the sale.

Restructuring and Related Imple

Restructuring and Related Implementation Charges	6 Months Ended
	Jun. 30, 2015
Restructuring and Related Activities [Abstract]
Restructuring and Related Implementation Charges	Restructuring and Related Implementation Charges In the fourth quarter of 2012, the Company commenced a four -year Global Growth and Efficiency Program for sustained growth. The program’s initiatives are expected to help Colgate ensure continued solid worldwide growth in unit volume, organic sales and earnings per share and enhance its global leadership positions in its core businesses. On October 23, 2014, the Company’s Board of Directors approved an expansion of the Global Growth and Efficiency Program (as expanded, the “2012 Restructuring Program”) to take advantage of additional savings opportunities. Cumulative pretax charges related to the 2012 Restructuring Program, once all phases are approved and implemented, are estimated to be $1,285 to $1,435 ( $950 to $1,050 aftertax). Implementation of the 2012 Restructuring Program is expected to be substantially completed by December 31, 2016. These pretax charges are currently estimated to be comprised of the following categories: Employee-Related Costs, including severance, pension and other termination benefits ( 50% ); asset-related costs, primarily Incremental Depreciation and Asset Impairments ( 10% ); and Other charges, which include contract termination costs, consisting primarily of implementation-related charges resulting directly from exit activities ( 20% ) and the implementation of new strategies ( 20% ). Anticipated pretax charges for 2015 are expected to amount to approximately $330 to $385 ( $245 to $285 aftertax). Over the course of the 2012 Restructuring Program, it is currently estimated that approximately 75% 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 ( 15% ), Europe/South Pacific ( 20% ), Latin America ( 5% ), Asia ( 5% ), Africa/Eurasia ( 5% ), Hill’s Pet Nutrition ( 10% ) and Corporate ( 40% ), which includes substantially all of the costs related to the implementation of new strategies, noted above, on a global basis. It is expected that, by the end of 2016, the 2012 Restructuring Program will contribute a net reduction of approximately 2,000 - 2,500 positions from the Company’s global employee workforce. For the three and six months ended June 30, 2015 and 2014 , restructuring and implementation-related charges are reflected in the Condensed Consolidated Statements of Income as follows: Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 Cost of sales $ 4 $ 6 $ 8 $ 16 Selling, general and administrative expenses 11 12 29 29 Other (income) expense, net 37 56 115 131 Total 2012 Restructuring Program charges, pretax $ 52 $ 74 $ 152 $ 176 Total 2012 Restructuring Program charges, aftertax $ 40 $ 53 $ 107 $ 126 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 2012 Restructuring Program relate to initiatives undertaken by the following reportable operating segments: Three Months Ended Six Months Ended Program-to-date June 30, June 30, Accumulated Charges 2015 2014 2015 2014 North America 14 % 11 % 17 % 10 % 11 % Latin America 5 % 5 % 2 % 4 % 3 % Europe/South Pacific 19 % 16 % 11 % 19 % 25 % Asia 11 % — % 4 % — % 2 % Africa/Eurasia 4 % 2 % 3 % 2 % 5 % Hill ’ s Pet Nutrition 13 % 11 % 7 % 9 % 8 % Corporate 34 % 55 % 56 % 56 % 46 % Since the inception of the 2012 Restructuring Program in the fourth quarter of 2012, the Company has incurred pretax cumulative charges of $898 ( $663 aftertax) in connection with the implementation of various projects as follows: Cumulative Charges as of June 30, 2015 Employee-Related Costs $ 362 Incremental Depreciation 60 Asset Impairments 3 Other 473 Total $ 898 The majority of costs incurred since inception relate to the following projects: the implementation of the Company’s overall hubbing strategy; the consolidation of facilities; the extension of shared business services and streamlining of global functions; the simplification and streamlining of the Company’s research and development capabilities and oral care supply chain, both in Europe; restructuring how the Company will provide future retirement benefits to substantially all of its U.S.-based employees participating in the Company’s defined benefit retirement plan by shifting them to the Company’s defined contribution plan; and the closing of the Morristown, New Jersey personal care facility. The following table summarizes the activity for the restructuring and implementation-related charges discussed above and the related accruals: Three Months Ended June 30, 2015 Employee-Related Costs Incremental Depreciation Asset Impairments Other Total Balance at March 31, 2015 $ 92 $ — $ — $ 139 $ 231 Charges 32 3 1 16 52 Cash payments (29 ) — — (18 ) (47 ) Charges against assets (1 ) (3 ) (1 ) — (5 ) Foreign exchange — — — — — Balance at June 30, 2015 $ 94 $ — $ — $ 137 $ 231 Six Months Ended June 30, 2015 Employee-Related Costs Incremental Depreciation Asset Impairments Other Total Balance at December 31, 2014 $ 85 $ — $ — $ 107 $ 192 Charges 67 9 1 75 152 Cash payments (44 ) — — (44 ) (88 ) Charges against assets (9 ) (9 ) (1 ) — (19 ) Foreign exchange (5 ) — — (1 ) (6 ) Balance at June 30, 2015 $ 94 $ — $ — $ 137 $ 231 Employee-Related Costs primarily include severance and other termination benefits and are calculated based on long-standing benefit practices, local statutory requirements and, in certain cases, voluntary termination arrangements. Employee-Related Costs also include pension and other retiree benefit enhancements amounting to $ 9 for the six months ended June 30, 2015 , which are reflected as Charges against assets within Employee-Related Costs in the preceding tables as the corresponding balance sheet amounts are reflected as a reduction of pension assets or an increase in pension and other retiree benefit liabilities (see Note 10, Retirement Plans and Other Retiree Benefits). Incremental Depreciation is recorded to reflect changes in useful lives and estimated residual values for long-lived assets that will be taken out of service prior to the end of their normal service period. Asset Impairments are recorded to write down assets held for sale or disposal to their fair value based on amounts expected to be realized. Charges against assets within Asset Impairments are net of cash proceeds pertaining to the sale of certain assets. Other charges consist primarily of charges resulting directly from exit activities and the implementation of new strategies as a result of the 2012 Restructuring Program. These charges for the three and six months ended June 30, 2015 include third-party incremental costs related to the development and implementation of new business and strategic initiatives of $ 14 and $ 26 , respectively, and contract termination costs and charges resulting directly from exit activities of $ 1 and $4 , respectively, directly related to the 2012 Restructuring Program. These charges were expensed as incurred. Also included in Other charges for the three and six months ended June 30, 2015 are other exit costs related to the consolidation of facilities of $ 1 and $ 45 , respectively.

Inventories

Inventories	6 Months Ended
	Jun. 30, 2015
Inventory, Net, Items Net of Reserve Alternative [Abstract]
Inventories	Inventories Inventories by major class are as follows: June 30, December 31, Raw materials and supplies $ 315 $ 349 Work-in-process 58 55 Finished goods 951 978 Total Inventories $ 1,324 $ 1,382

Shareholders' Equity

Shareholders' Equity	6 Months Ended
	Jun. 30, 2015
Stockholders' Equity Note [Abstract]
Stockholders' Equity	Shareholders’ Equity Changes in the components of Shareholders’ Equity for the six months ended June 30, 2015 are as follows: Colgate-Palmolive Company Shareholders’ Equity Noncontrolling Interests Common Stock Additional Paid-in Capital Unearned Compensation Treasury Stock Retained Earnings Accumulated Other Comprehensive Income (Loss) Balance, December 31, 2014 $ 1,466 $ 1,236 $ (20 ) $ (16,862 ) $ 18,832 $ (3,507 ) $ 240 Net income 1,116 83 Other comprehensive income (loss), net of tax (269 ) Dividends (1,012 ) (20 ) Stock-based compensation expense 51 Shares issued for stock options 50 125 Shares issued for restricted stock units (31 ) 31 Treasury stock acquired (767 ) Other 4 11 Balance, June 30, 2015 $ 1,466 $ 1,310 $ (9 ) $ (17,473 ) $ 18,936 $ (3,776 ) $ 303 Accumulated other comprehensive income (loss) includes cumulative translation losses of $ 2,738 and $ 2,453 at June 30, 2015 and December 31, 2014 , respectively, and unrecognized retirement plan and other retiree benefits costs of $ 1,037 and $ 1,064 at June 30, 2015 and December 31, 2014 , respectively.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Three Months Ended June 30, 2015 June 30, 2014 Net income attributable to Colgate-Palmolive Company Shares (millions) Per Share Net income attributable to Colgate-Palmolive Company Shares (millions) Per Share Basic EPS $ 574 904.6 $ 0.63 $ 622 916.1 $ 0.68 Stock options and restricted stock units 7.8 9.8 Diluted EPS $ 574 912.4 $ 0.63 $ 622 925.9 $ 0.67 For the three months ended June 30, 2015 and 2014 , the average number of stock options and restricted stock units that were anti-dilutive and not included in diluted earnings per share calculations were 1,571,872 and 48,362 , respectively. Six Months Ended June 30, 2015 June 30, 2014 Net income attributable to Colgate-Palmolive Company Shares (millions) Per Share Net income attributable to Colgate-Palmolive Company Shares (millions) Per Share Basic EPS $ 1,116 906.1 $ 1.23 $ 1,010 917.8 $ 1.10 Stock options and restricted stock units 8.3 9.5 Diluted EPS $ 1,116 914.4 $ 1.22 $ 1,010 927.3 $ 1.09 For the six months ended June 30, 2015 and 2014 , the average number of stock options and restricted stock units that were anti-dilutive and not included in diluted earnings per share calculations were 1,573,532 and 36,266 , respectively. Basic and diluted earnings per share are computed independently for each quarter and any year-to-date period presented. As a result of changes in shares outstanding during the year and rounding, the sum of the quarters ’ earnings per share may not necessarily equal the earnings per share for any year-to-date period.

Other Comprehensive Income (Los

Other Comprehensive Income (Loss)	6 Months Ended
	Jun. 30, 2015
Equity [Abstract]
Other Comprehensive Income (Loss)	Other Comprehensive Income (Loss) Additions to and reclassifications out of Accumulated other comprehensive income (loss) attributable to the Company for the three months ended June 30, 2015 and 2014 were as follows: 2015 2014 Pretax Net of Tax Pretax Net of Tax Cumulative translation adjustments $ 64 $ 67 $ 29 $ 25 Retirement plans and other retiree benefits: Net actuarial gain (loss) and prior service costs arising during the period — — — — Amortization of net actuarial loss, transition and prior service costs (1) 22 14 14 8 Retirement plans and other retiree benefits adjustments 22 14 14 8 Available-for-sale securities: Unrealized gains (losses) on available-for-sale securities (2) (19 ) (12 ) 6 4 Reclassification of (gains) losses into net earnings on available-for-sale securities (3) 7 5 — — Gains (losses) on available-for-sale securities (12 ) (7 ) 6 4 Cash flow hedges: Unrealized gains (losses) on cash flow hedges (5 ) (3 ) (8 ) (4 ) Reclassification of (gains) losses into net earnings on cash flow hedges (4) (1 ) — — — Gains (losses) on cash flow hedges (6 ) (3 ) (8 ) (4 ) Total Other comprehensive income (loss) $ 68 $ 71 $ 41 $ 33 (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) For the three months ended June 30, 2015 , these amounts included a pretax loss of $28 related to the remeasurement of the bolivar-denominated fixed interest rate bonds and the devaluation-protected bonds in Venezuela. For the three months ended June 30, 2014, these amounts included a pretax gain of $4 related to the remeasurement of the bolivar-denominated fixed interest rate bonds and the devaluation-protected bonds in Venezuela. (3) Represents reclassification of losses on the Venezuela bonds into Other (income) expense, net due to an impairment in the fair value of the bonds as a result of the effective devaluation in the second quarter of 2015. See Note 14 , Fair Value Measurements and Financial Instruments for additional details. (4) These (gains) losses are reclassified into Cost of sales. See Note 14 , Fair Value Measurements and Financial Instruments for additional details. Additions to and reclassifications out of Accumulated other comprehensive income (loss) attributable to the Company for the six months ended June 30, 2015 and 2014 were as follows: 2015 2014 Pretax Net of Tax Pretax Net of Tax Cumulative translation adjustments $ (276 ) $ (285 ) $ (10 ) $ (18 ) Retirement plans and other retiree benefits: Net actuarial gain (loss) and prior service costs arising during the period (1 ) (1 ) 3 2 Amortization of net actuarial loss, transition and prior service costs (1) 44 28 28 19 Retirement plans and other retiree benefits adjustments 43 27 31 21 Available-for-sale securities: Unrealized gains (losses) on available-for-sale securities (2) (20 ) (13 ) (292 ) (190 ) Reclassification of (gains) losses into net earnings on available-for-sale securities (3) 7 5 211 138 Gains (losses) on available-for-sale securities (13 ) (8 ) (81 ) (52 ) Cash flow hedges: Unrealized gains (losses) on cash flow hedges 1 1 (6 ) (3 ) Reclassification of (gains) losses into net earnings on cash flow hedges (4) (7 ) (4 ) (3 ) (1 ) Gains (losses) on cash flow hedges (6 ) (3 ) (9 ) (4 ) Total Other comprehensive income (loss) $ (252 ) $ (269 ) $ (69 ) $ (53 ) (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) For the six months ended June 30, 2015 , these amounts included a pretax loss of $28 related to the remeasurement of the bolivar-denominated fixed interest rate bonds and the devaluation-protected bonds in Venezuela. For the six months ended June 30, 2014 , these amounts included a pretax loss of $272 related to the remeasurement of the bolivar-denominated fixed interest rate bonds and the devaluation-protected bonds in Venezuela. See Note 14 , Fair Value Measurements and Financial Instruments for additional details. (3) Represents reclassification of losses on the Venezuela bonds into Other (income) expense, net due to an impairment in the fair value of the bonds as a result of the effective devaluations in the second quarter of 2015 and the first quarter of 2014. See Note 14 , Fair Value Measurements and Financial Instruments for additional details. (4) These (gains) losses are reclassified into Cost of sales. See Note 14 , Fair Value Measurements and Financial Instruments for additional details. There were no tax impacts on Other comprehensive income (loss) attributable to Noncontrolling interests.

Retirement Plans and Other Reti

Retirement Plans and Other Retiree Benefits	6 Months Ended
	Jun. 30, 2015
Compensation and Retirement Disclosure [Abstract]
Retirement Plans and Other Retiree Benefits	Retirement Plans and Other Retiree Benefits Components of Net periodic benefit cost for the three and six months ended June 30, 2015 and 2014 were as follows: Pension Benefits Other Retiree Benefits United States International Three Months Ended June 30, 2015 2014 2015 2014 2015 2014 Service cost $ 1 $ 1 $ 5 $ 5 $ 4 $ 3 Interest cost 25 26 7 9 12 11 ESOP offset — — — — (1 ) (1 ) Expected return on plan assets (29 ) (29 ) (6 ) (8 ) — (1 ) Amortization of transition and prior service costs (credits) — — 1 2 — — Amortization of actuarial loss (gain) 12 8 2 — 7 4 Net periodic benefit cost $ 9 $ 6 $ 9 $ 8 $ 22 $ 16 Pension Benefits Other Retiree Benefits United States International Six Months Ended June 30, 2015 2014 2015 2014 2015 2014 Service cost $ 1 $ 1 $ 10 $ 10 $ 8 $ 6 Interest cost 50 51 15 18 23 21 ESOP offset — — — — (1 ) (1 ) Expected return on plan assets (58 ) (56 ) (14 ) (15 ) (1 ) (1 ) Amortization of transition and prior service costs (credits) — — 1 3 — — Amortization of actuarial loss (gain) 24 16 5 1 14 8 Net periodic benefit cost $ 17 $ 12 $ 17 $ 17 $ 43 $ 33 For the six months ended June 30, 2015 and June 30, 2014 , the Company did not make any voluntary contributions to its U.S. postretirement plans.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes At December 31, 2014, the Company had unrecognized tax benefits of $ 218 . In May 2015, the Company became aware of several Supreme Court rulings in a foreign jurisdiction disallowing certain tax deductions which had the effect of reversing prior decisions. The Company had taken deductions in prior years similar to those now disallowed by the Court. As a result, as required, the Company reassessed its tax position in light of the recent rulings and concluded it needed to increase its unrecognized tax benefits by $ 15 . The Company recorded this $ 15 income tax charge in the quarter ended June 30, 2015. Although it is possible that the amount of unrecognized tax benefits with respect to the Company’s uncertain tax positions will further increase or decrease during the remainder of 2015, the Company does not expect material changes.

Contingencies

Contingencies	6 Months Ended
	Jun. 30, 2015
Loss Contingency [Abstract]
Contingencies	Contingencies As a global company serving consumers in more than 200 countries and territories, the Company is routinely subject to a wide variety of legal proceedings. These include disputes relating to intellectual property, contracts, product liability, marketing, advertising, foreign exchange controls, antitrust and trade regulation, as well as labor and employment, 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, the Company currently estimates that the aggregate range of reasonably possible losses in excess of any accrued liabilities is $0 to approximately $200 (based on current exchange rates). The estimates included in this amount are based on the Company’s analysis of currently available information and, as new information is obtained, these estimates may change. Due to the inherent subjectivity of the assessments and the unpredictability of outcomes of legal proceedings, any amounts accrued or included in this aggregate amount may not represent the ultimate loss to the Company. Thus, the Company’s exposure and ultimate losses may be higher or lower, and possibly significantly so, than the amounts accrued or the range disclosed above. Based on current knowledge, management does not believe that the ultimate resolution of loss contingencies arising from the matters discussed herein will have a material effect on the Company’s consolidated financial position or its ongoing results of operations or cash flows. However, in light of the inherent uncertainties noted above, an adverse outcome in one or more matters could be material to the Company’s results of operations or cash flows for any particular quarter or year. Brazilian Matters There are certain tax and civil proceedings outstanding, as described below, related to the Company ’ s 1995 acquisition of the Kolynos oral care business from Wyeth (the “ Seller ” ). The Brazilian internal revenue authority has disallowed interest deductions and foreign exchange losses taken by the Company’s Brazilian subsidiary for certain years in connection with the financing of the Kolynos acquisition. The tax assessments with interest, at the current exchange rate, are approximately $94 . The Company has been disputing the disallowances by appealing the assessments within the internal revenue authority’s appellate process since October 2001. Numerous appeals are currently pending at the administrative level. In the event the Company is ultimately unsuccessful, 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 disallowances are without merit and that the Company should ultimately prevail on appeal, if necessary, in the Brazilian federal courts. The Company intends to challenge these assessments 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 intends to challenge this action vigorously. In December 2005, the Brazilian internal revenue authority issued to the Company’s Brazilian subsidiary a tax assessment with interest and penalties of approximately $58 , 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 has been disputing the assessment within the internal revenue authority’s administrative appeals process. In November 2014, the Superior Chamber of Administrative Tax Appeals denied the Company’s most recent appeal. Further appeals are available both at the administrative level and 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 on appeal, if not at the administrative level, in the Brazilian federal courts. The Company intends to challenge this assessment vigorously. Competition Matters 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. Competition and antitrust law investigations often continue for several years and can result in substantial fines for violations that are found. While the Company cannot predict the final financial impact of these competition law issues, as these matters may change, the Company evaluates developments in these matters quarterly and accrues liabilities as and when appropriate. European Competition Matters Certain of the Company’s subsidiaries in Europe are subject to investigations, and in some cases fines, by governmental authorities in a number of European countries related to potential competition law violations. The Company understands that substantially all of these matters also involve other consumer goods companies and/or retail customers. The status of the various pending matters is discussed below. Fines have been imposed on the Company in the following matters, although, as noted below, the Company has appealed each of these fines: ▪ In December 2009, the Swiss competition law authority imposed a fine of $6 on the Company’s GABA subsidiary for alleged violations of restrictions on parallel imports into Switzerland, which the Company appealed. In January 2014, this appeal was denied. The Company is appealing before the Swiss Supreme Court. ▪ In December 2010, the Italian competition law authority found that 16 consumer goods companies, including the Company’s Italian subsidiary, exchanged competitively sensitive information in the cosmetics sector, for which the Company’s Italian subsidiary was fined $3 . The Company is appealing the fine in the Italian courts. ▪ In December 2014, the French competition law authority found that 13 consumer goods companies, including the Company’s French subsidiary, exchanged competitively sensitive information related to the French home care and personal care sectors, for which the Company’s French subsidiary was fined $57 . In addition, as a result of the Company’s acquisition of the Sanex personal care business in 2011 from Unilever N.V. and Unilever PLC (together with Unilever N.V., “Unilever”) pursuant to a Business and Share Sale and Purchase Agreement (the “Sale and Purchase Agreement”), the French competition law authority found that the Company’s French subsidiary, along with Hillshire Brands Company (formerly Sara Lee Corporation (“Sara Lee”)), were jointly and severally liable for fines of $25 assessed against Sara Lee’s French subsidiary. The Company is entitled to indemnification for this fine from Unilever as provided in the Sale and Purchase Agreement. The Company is appealing both fines in the French courts. As of June 30, 2015, the following formal claim of violations is pending against the Company: ▪ In July 2014, the Greek competition law authority issued a statement of objections alleging the Company and its Greek subsidiary restricted parallel imports into Greece. The Company has responded to this statement of objections. Since December 31, 2014, the following matters have been resolved: ▪ In March 2015, the French Supreme Court confirmed the French competition law authority’s March 2012 fine of the Company’s Hill’s French subsidiary in the amount of $ 7 . ▪ In June 2015, the Spanish Supreme Court confirmed the annulment of the Spanish competition law authority’s January 2010 fine of the Company’s Spanish subsidiary. ▪ In June 2015, the Belgian competition law authority issued a final settlement decision related to price coordination involving 11 branded goods companies, including the Company’s Belgian subsidiary, and a number of retailers in Belgium. As the Company was an immunity applicant, the Company’s Belgian subsidiary was not fined. Australian Competition Matter In December 2013, the Australian competition law authority instituted civil proceedings in the Sydney registry of the Federal Court of Australia alleging that three consumer goods companies, including the Company’s Australian subsidiary, a retailer and a former employee of the Company’s Australian subsidiary violated the Australian competition law by coordinating the launching and pricing of ultra concentrated laundry detergents. The Company is defending these proceedings. Since the amount of any potential losses from these proceedings currently cannot be estimated, the range of reasonably possible losses in excess of accrued liabilities disclosed above does not include any amount relating to these proceedings. Talcum Powder Matters The Company is a defendant in a number of civil actions alleging that certain talc products it sold prior to 1996 were contaminated with asbestos. The Company is challenging these cases vigorously. Twenty-one cases filed against the Company have been voluntarily dismissed and/or had final judgment entered in favor of the Company. In April 2015, an agreement in principle was reached to settle four individual cases following a trial and jury verdict in one of the cases in California against the Company and others and the settlements were finalized in June 2015. The amount of the settlements is not material to the Company’s results of operations. There are 23 additional individual cases pending against the Company in state and federal courts in California, Delaware, the District of Columbia, Illinois, Maryland, New Jersey, New York, South Carolina and Wisconsin. Eleven of these cases have been filed against the Company since the quarter ended March 31, 2015; all but one of these cases have multiple defendants named in addition to the Company. Some of these cases are expected to go to trial in 2015, although the Company may succeed in dismissing or otherwise resolving them. While the Company and its legal counsel believe these cases are without merit and intend to challenge them vigorously, there can be no assurances of the outcome at trial. Since the amount of any potential losses from these additional cases currently cannot be estimated, the range of reasonably possible losses in excess of accrued liabilities disclosed above does not include any amount relating to these cases.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2015
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/South Pacific, Asia and Africa/Eurasia. The Company evaluates segment performance based on several factors, including Operating profit. The Company uses Operating profit as a measure of operating segment performance because it excludes the impact of corporate-driven decisions related to interest expense and income taxes. The accounting policies of the operating segments are generally the same as those described in Note 2, Summary of Significant Accounting Policies to the Company’s Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014. 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 costs, and gains and losses on sales of non-core product lines and assets. The Company reports these items within Corporate operations as they relate to Corporate-based responsibilities and decisions and are not included in the internal measures of segment operating performance used by the Company to measure the underlying performance of the operating segments. Net sales and Operating profit by segment were as follows: Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 Net sales Oral, Personal and Home Care North America $ 780 $ 770 $ 1,569 $ 1,555 Latin America 1,126 1,231 2,213 2,383 Europe/South Pacific 731 873 1,472 1,738 Asia 623 610 1,284 1,282 Africa/Eurasia 254 308 508 606 Total Oral, Personal and Home Care 3,514 3,792 7,046 7,564 Pet Nutrition 552 560 1,090 1,113 Total Net sales $ 4,066 $ 4,352 $ 8,136 $ 8,677 Operating profit Oral, Personal and Home Care North America $ 223 $ 231 $ 441 $ 447 Latin America 321 311 629 601 Europe/South Pacific 183 227 367 444 Asia 181 178 374 371 Africa/Eurasia 45 58 84 117 Total Oral, Personal and Home Care 953 1,005 1,895 1,980 Pet Nutrition 146 146 293 290 Corporate (167 ) (171 ) (396 ) (656 ) Total Operating profit $ 932 $ 980 $ 1,792 $ 1,614 Approximately 80% of the Company’s Net sales are generated from markets outside the U.S., with over 50% of the Company’s Net sales coming from emerging markets (which consist of Latin America, Asia (excluding Japan), Africa/Eurasia and Central Europe). For the three months ended June 30, 2015 , Corporate Operating profit (loss) includes charges of $52 related to the 2012 Restructuring Program and a charge of $16 related to the remeasurement of the Company’s Venezuelan subsidiary’s local currency-denominated net monetary assets as a result of an effective devaluation. For the six months ended June 30, 2015 , Corporate Operating profit (loss) includes charges of $152 related to the 2012 Restructuring Program and a charge of $16 related to the remeasurement of the Company’s Venezuelan subsidiary’s local currency-denominated net monetary assets as a result of an effective devaluation. For the three months ended June 30, 2014 , Corporate Operating profit (loss) included charges of $74 related to the 2012 Restructuring Program and costs of $2 related to the sale of land in Mexico. For the six months ended June 30, 2014 , Corporate Operating profit (loss) included charges of $176 related to the 2012 Restructuring Program, charges of $266 related to the remeasurement of the Company’s Venezuelan subsidiary’s local currency-denominated net monetary assets as a result of an effective devaluation and costs of $3 related to the sale of land in Mexico. For further information regarding the 2012 Restructuring Program, refer to Note 5 , Restructuring and Related Implementation Charges. For further information regarding Venezuela, refer to Note 15 , Venezuela. For further information regarding the sale of land in Mexico, refer to Note 4 , Acquisitions and Divestitures.

Fair Value Measurements and Fin

Fair Value Measurements and Financial Instruments	6 Months Ended
	Jun. 30, 2015
Financial Instruments and Fair Value Measurements [Abstract]
Fair Value Measurements and Financial Instruments	Fair Value Measurements and Financial Instruments The Company uses available market information and other valuation methodologies in assessing the fair value of financial instruments. Judgment is required in interpreting market data to develop the estimates of fair value and, accordingly, changes in assumptions or the estimation methodologies may affect the fair value estimates. The Company is exposed to the risk of credit loss in the event of nonperformance by counterparties to financial instrument contracts; however, nonperformance is considered unlikely and any nonperformance is unlikely to be material, as it is the Company’s policy to contract only with diverse, credit-worthy counterparties based upon both strong credit ratings and other credit considerations. The Company is exposed to market risk from foreign currency exchange rates, interest rates and commodity price fluctuations. Volatility relating to these exposures is managed on a global basis by utilizing a number of techniques, including working capital management, sourcing strategies, selling price increases, selective borrowings in local currencies and entering into selective derivative instrument transactions, issued with standard features, in accordance with the Company’s treasury and risk management policies, which prohibit the use of derivatives for speculative purposes and leveraged derivatives for any purpose. It is the Company’s policy to enter into derivative instrument contracts with terms that match the underlying exposure being hedged. Hedge ineffectiveness, if any, is not material for any period presented. The Company’s derivative instruments include interest rate swap contracts, foreign currency contracts and commodity contracts. The Company utilizes interest rate swap contracts to manage its targeted mix of fixed and floating rate debt, and these swaps are valued using observable benchmark rates (Level 2 valuation). The Company utilizes foreign currency contracts, including forward and swap contracts, option contracts, local currency deposits and local currency borrowings to hedge portions of its foreign currency purchases, assets and liabilities arising in the normal course of business and the net investment in certain foreign subsidiaries. These contracts are valued using observable market rates (Level 2 valuation). Commodity futures contracts are utilized to hedge the purchases of raw materials used in production. These contracts are measured using quoted commodity exchange prices (Level 1 valuation). The duration of foreign currency and commodity contracts generally does not exceed 12 months. The following summarizes the fair value of the Company’s derivative instruments and other financial instruments at June 30, 2015 and December 31, 2014 : Assets Liabilities Account Fair Value Account Fair Value Designated derivative instruments 6/30/15 12/31/14 6/30/15 12/31/14 Interest rate swap contracts Other current assets $ 1 $ 1 Other accruals $ — $ — Interest rate swap contracts Other assets 12 12 Other liabilities — 2 Foreign currency contracts Other current assets 22 21 Other accruals 10 4 Foreign currency contracts Other assets 103 60 Other liabilities — — Commodity contracts Other current assets 1 — Other accruals — 1 Total designated $ 139 $ 94 $ 10 $ 7 Derivatives not designated Foreign currency contracts Other current assets $ 3 $ — Other accruals $ — $ — Foreign currency contracts Other assets 7 8 Other liabilities — — Total not designated $ 10 $ 8 $ — $ — Total derivative instruments $ 149 $ 102 $ 10 $ 7 Other financial instruments Marketable securities Other current assets $ 248 $ 200 Note receivable Other current assets 38 42 Available-for-sale securities Other assets 391 322 Total other financial instruments $ 677 $ 564 The carrying amount of cash, cash equivalents, accounts receivable and short-term debt approximated fair value as of June 30, 2015 and December 31, 2014 . The estimated fair value of the Company’s long-term debt, including the current portion, as of June 30, 2015 and December 31, 2014 , was $6,838 and $6,346 , respectively, and the related carrying value was $6,674 and $6,132 , 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). Fair Value Hedges The Company has designated all interest rate swap contracts and certain foreign currency forward and option contracts as fair value hedges, for which the gain or loss on the derivative and the offsetting gain or loss on the hedged item are recognized in current earnings. The impact of foreign currency contracts is primarily recognized in Selling, general and administrative expenses and the impact of interest rate swap contracts is recognized in Interest (income) expense, net. Activity related to fair value hedges recorded during the three and six months ended June 30, 2015 and 2014 was as follows: 2015 2014 Foreign Currency Contracts Interest Rate Swaps Total Foreign Currency Contracts Interest Rate Swaps Total Notional Value at June 30, $ 1,136 $ 1,438 $ 2,574 $ 1,210 $ 1,438 $ 2,648 Three months ended June 30: Gain (loss) on derivative (5 ) (4 ) (9 ) — 7 7 Gain (loss) on hedged items 5 4 9 — (7 ) (7 ) Six months ended June 30: Gain (loss) on derivative (3 ) 2 (1 ) 2 (3 ) (1 ) Gain (loss) on hedged items 3 (2 ) 1 (2 ) 3 1 Cash Flow Hedges All of the Company’s commodity contracts and certain foreign currency forward contracts have been designated as cash flow hedges, for which the effective portion of the gain or loss is reported as a component of Other comprehensive income ( “ OCI ” ) and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. Activity related to cash flow hedges recorded during the three and six months ended June 30, 2015 and 2014 was as follows: 2015 2014 Foreign Currency Contracts Commodity Contracts Total Foreign Currency Contracts Commodity Contracts Total Notional Value at June 30, $ 666 $ 10 $ 676 $ 521 $ 14 $ 535 Three months ended June 30: Gain (loss) recognized in OCI (6 ) 1 (5 ) (7 ) (1 ) (8 ) Gain (loss) reclassified into Cost of sales 1 — 1 (1 ) 1 — Six months ended June 30: Gain (loss) recognized in OCI 1 — 1 (7 ) 1 (6 ) Gain (loss) reclassified into Cost of sales 8 (1 ) 7 1 2 3 The net gain (loss) recognized in OCI for both foreign currency contracts and commodity contracts is expected to be recognized in Cost of sales within the next twelve months. Net Investment Hedges The Company has designated certain foreign currency forward and option contracts and certain foreign currency-denominated debt as net investment hedges, for which the gain or loss on the instrument is reported as a component of Cumulative translation adjustments within OCI, along with the offsetting gain or loss on the hedged items. Activity related to net investment hedges recorded during the three and six months ended June 30, 2015 and 2014 was as follows: 2015 2014 Foreign Currency Contracts Foreign Currency Debt Total Foreign Currency Contracts Foreign Currency Debt Total Notional Value at June 30, $ 786 $ 836 $ 1,622 $ 631 $ 53 $ 684 Three months ended June 30: Gain (loss) on instruments (29 ) (2 ) (31 ) — 2 2 Gain (loss) on hedged items 29 2 31 (1 ) (2 ) (3 ) Six months ended June 30: Gain (loss) on instruments 33 25 58 — 3 3 Gain (loss) on hedged items (33 ) (25 ) (58 ) — (3 ) (3 ) Derivatives Not Designated as Hedging Instruments Derivatives not designated as hedging instruments for each period consist of a cross-currency swap that serves as an economic hedge of a foreign currency deposit, for which the gain or loss on the instrument and the offsetting gain or loss on the hedged item are recognized in Other (income) expense, net for each period. Derivatives not designated as hedging instruments as of June 30, 2015 also include a foreign currency option contract for which the gain or loss on the instrument is recognized in Other (income) expense, net for the six months ended June 30, 2015. Activity related to these contracts during the three and six months ended June 30, 2015 and 2014 was as follows: 2015 2014 Foreign Currency Contract Cross-currency Total Foreign Currency Contract Cross-currency Swap Total Notional Value at June 30, $ 79 $ 102 $ 181 $ — $ 102 $ 102 Three months ended June 30: Gain (loss) on instrument 1 (6 ) (5 ) — (2 ) (2 ) Gain (loss) on hedged item — 6 6 — 2 2 Six months ended June 30: Gain (loss) on instrument 1 (1 ) — — (3 ) (3 ) Gain (loss) on hedged item — 1 1 — 3 3 Other Financial Instruments Other financial instruments are classified as Other current assets or Other assets. Other financial instruments classified as Other current assets include marketable securities and a fixed interest rate note receivable. Marketable securities consist of bank deposits of $218 with original maturities greater than 90 days (Level 1 valuation) and the current portion of bonds issued by the Venezuelan government (Level 2 valuation) in the amount of $30 . As more fully discussed below, the long-term portion of these bonds in the amount of $391 is included in Other assets. The fixed interest rate note receivable of $38 is carried at cost, which approximated fair value as of June 30, 2015 . Through its subsidiary in Venezuela, the Company is invested in U.S. dollar-linked, devaluation-protected bonds and bolivar-denominated fixed interest rate bonds, both of which are issued by the Venezuelan government. These bonds are actively traded and, therefore, are considered Level 2 investments as their values are determined based upon observable market-based inputs or unobservable inputs that are corroborated by market data. As of June 30, 2015 , the fair market value of the Company’s U.S. dollar-linked devaluation-protected bonds and bolivar-denominated fixed interest rate bonds was $73 and $348 , respectively. These bonds are considered available-for-sale securities and, as noted above, the long-term portion in the amount of $391 is included in Other assets. The following table presents a reconciliation of the Venezuelan bonds at fair value for the six months ended June 30 , 2015 and 2014: 2015 2014 Beginning balance as of January 1, $ 399 $ 685 Unrealized gain (loss) on investment (20 ) (292 ) Purchases and sales during the period 42 54 Ending balance as of June 30, $ 421 $ 447 Unrealized loss on investment for the six months ended June 30, 2015 consisted primarily of a loss in the amount of $28 related to the remeasurement of the bolivar-denominated fixed interest rate bonds and the devaluation-protected bonds in Venezuela as a result of the effective devaluation in the second quarter of 2015. Unrealized loss on investment for the six months ended June 30, 2014 consisted primarily of a loss in the amount of $272 related to the remeasurement of the bolivar-denominated fixed interest rate bonds and the devaluation-protected bonds in Venezuela as a result of the effective devaluation in the first quarter of 2014. For further information regarding Venezuela, refer to Note 15 , Venezuela. Other assets also include $35 of fixed income securities maturing in 2016. These securities are considered held-to-maturity and are carried at amortized cost, which approximated fair value as of June 30, 2015 .

Venezuela

Venezuela	6 Months Ended
	Jun. 30, 2015
Foreign Currency [Abstract]
Venezuela	Venezuela Venezuela has been designated hyper-inflationary and, therefore, the functional currency for the Company’s Venezuelan subsidiary (“CP Venezuela”) is the U.S. dollar and Venezuelan currency fluctuations are reported in income. In February 2015, the Venezuelan government implemented changes in Venezuela’s foreign exchange regime. While the official exchange rate, as determined by the National Center for Foreign Commerce (“CENCOEX”), remained at 6.30 bolivares per dollar, and the SICAD I (Supplementary System for the Administration of Foreign Currency) currency market, now known as SICAD, was unchanged, the SICAD II market was eliminated and a new, alternative currency market, the Foreign Exchange Marginal System (“SIMADI”), was created and became operational with a floating exchange rate determined by market participants. The Company remeasures the financial statements of CP Venezuela at the end of each month at the rate at which it expects to remit future dividends which, based on the advice of legal counsel, is currently the SICAD rate. During the second quarter of 2015, the SICAD rate devalued to 12.80 bolivares per dollar as of June 30, 2015 from 12.00 bolivares per dollar as of March 31, 2015 . The Company remeasured CP Venezuela’s local currency-denominated net monetary assets at June 30, 2015 at the rate of 12.80 bolivares per dollar and, as a result, incurred a pretax loss of $16 ( $10 aftertax loss or $0.01 per diluted common share). During the second quarter of 2014, the SICAD I rate revalued slightly and the Company remeasured CP Venezuela’s local currency-denominated net monetary assets at the quarter-end SICAD I rate of 10.60 bolivares per dollar. The impact of the remeasurement during the quarter was insignificant in relation to the Company’s consolidated Net income. During the first quarter of 2014, the Company incurred pretax losses of $266 ( $174 aftertax losses or $0.19 per diluted common share) related to the remeasurement of CP Venezuela’s local currency-denominated net monetary assets at the quarter-end SICAD I rate of 10.70 bolivares per dollar. Included in the remeasurement losses during the second quarter of 2015 and the first quarter of 2014 were charges related to the devaluation-protected bonds issued by the Venezuelan government and held by CP Venezuela. Because the official exchange rate remained at 6.30 bolivares per dollar, the devaluation-protected bonds did not revalue at the rate available on the SICAD currency market but remained at the official exchange rate, resulting in an impairment in the fair value of the bonds. CP Venezuela funds its requirements for imported goods through a combination of U.S. dollars obtained from CENCOEX and intercompany borrowings. Because most of the products in CP Venezuela’s portfolio have been designated as “essential” by the Venezuelan government, historically CP Venezuela’s access to U.S. dollars at the official rate of 6.30 bolivares per dollar has generally been sufficient to settle most of its U.S. dollar obligations for imported materials and the gains related to such transactions are recorded when the funds are authorized by CENCOEX and the liabilities are paid. The decline in the price of oil has contributed to a reduced availability of U.S. dollars in Venezuela and, recently, CP Venezuela’s supply of U.S. dollars to fund imports has become even more limited and sporadic. Although the SIMADI market was accessible to CP Venezuela, it did not participate in that market through June 30, 2015. Since its inception, the volume of transactions in the SIMADI market has been very limited and the exchange rate at June 30, 2015 was 197.30 bolivares per dollar. For the six months ended June 30, 2015 , CP Venezuela represented approximately 4% of the Company’s consolidated Net sales. At June 30, 2015 , CP Venezuela ’ s local currency-denominated net monetary asset position, which would be subject to remeasurement in the event of further changes in the SICAD rate, was $602 . This amount includes the devaluation-protected bonds issued by the Venezuelan government. CP Venezuela ’ s net non-monetary assets were $296 at June 30, 2015 , including $231 of fixed assets, that could be subject to impairment if CP Venezuela is not able to implement further price increases to offset the impacts of continued high inflation or further devaluations, or if it does not have sufficient access to U.S. dollars from CENCOEX or the SICAD market to fund imports. At June 30, 2015 , the Company’s total investment in CP Venezuela was $1,009 , which included intercompany payables of CP Venezuela.

Restructuring and Related Imp22

Restructuring and Related Implementation Charges (Tables)	6 Months Ended
	Jun. 30, 2015
Restructuring and Related Activities [Abstract]
Schedule of Restructuring and Related Costs	For the three and six months ended June 30, 2015 and 2014 , restructuring and implementation-related charges are reflected in the Condensed Consolidated Statements of Income as follows: Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 Cost of sales $ 4 $ 6 $ 8 $ 16 Selling, general and administrative expenses 11 12 29 29 Other (income) expense, net 37 56 115 131 Total 2012 Restructuring Program charges, pretax $ 52 $ 74 $ 152 $ 176 Total 2012 Restructuring Program charges, aftertax $ 40 $ 53 $ 107 $ 126
Schedule of Percent Of Total Restructuring Charges Related To Segment for the period	Total charges incurred for the 2012 Restructuring Program relate to initiatives undertaken by the following reportable operating segments: Three Months Ended Six Months Ended Program-to-date June 30, June 30, Accumulated Charges 2015 2014 2015 2014 North America 14 % 11 % 17 % 10 % 11 % Latin America 5 % 5 % 2 % 4 % 3 % Europe/South Pacific 19 % 16 % 11 % 19 % 25 % Asia 11 % — % 4 % — % 2 % Africa/Eurasia 4 % 2 % 3 % 2 % 5 % Hill ’ s Pet Nutrition 13 % 11 % 7 % 9 % 8 % Corporate 34 % 55 % 56 % 56 % 46 %
Schedule of Restructuring and Related Costs Incurred to Date	Since the inception of the 2012 Restructuring Program in the fourth quarter of 2012, the Company has incurred pretax cumulative charges of $898 ( $663 aftertax) in connection with the implementation of various projects as follows: Cumulative Charges as of June 30, 2015 Employee-Related Costs $ 362 Incremental Depreciation 60 Asset Impairments 3 Other 473 Total $ 898
Schedule of Restructuring Reserve by Type of Cost	The following table summarizes the activity for the restructuring and implementation-related charges discussed above and the related accruals: Three Months Ended June 30, 2015 Employee-Related Costs Incremental Depreciation Asset Impairments Other Total Balance at March 31, 2015 $ 92 $ — $ — $ 139 $ 231 Charges 32 3 1 16 52 Cash payments (29 ) — — (18 ) (47 ) Charges against assets (1 ) (3 ) (1 ) — (5 ) Foreign exchange — — — — — Balance at June 30, 2015 $ 94 $ — $ — $ 137 $ 231 Six Months Ended June 30, 2015 Employee-Related Costs Incremental Depreciation Asset Impairments Other Total Balance at December 31, 2014 $ 85 $ — $ — $ 107 $ 192 Charges 67 9 1 75 152 Cash payments (44 ) — — (44 ) (88 ) Charges against assets (9 ) (9 ) (1 ) — (19 ) Foreign exchange (5 ) — — (1 ) (6 ) Balance at June 30, 2015 $ 94 $ — $ — $ 137 $ 231

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2015
Inventory, Net, Items Net of Reserve Alternative [Abstract]
Inventories By Major Class	Inventories by major class are as follows: June 30, December 31, Raw materials and supplies $ 315 $ 349 Work-in-process 58 55 Finished goods 951 978 Total Inventories $ 1,324 $ 1,382

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2015
Stockholders' Equity Note [Abstract]
Shareholders' Equity	Changes in the components of Shareholders’ Equity for the six months ended June 30, 2015 are as follows: Colgate-Palmolive Company Shareholders’ Equity Noncontrolling Interests Common Stock Additional Paid-in Capital Unearned Compensation Treasury Stock Retained Earnings Accumulated Other Comprehensive Income (Loss) Balance, December 31, 2014 $ 1,466 $ 1,236 $ (20 ) $ (16,862 ) $ 18,832 $ (3,507 ) $ 240 Net income 1,116 83 Other comprehensive income (loss), net of tax (269 ) Dividends (1,012 ) (20 ) Stock-based compensation expense 51 Shares issued for stock options 50 125 Shares issued for restricted stock units (31 ) 31 Treasury stock acquired (767 ) Other 4 11 Balance, June 30, 2015 $ 1,466 $ 1,310 $ (9 ) $ (17,473 ) $ 18,936 $ (3,776 ) $ 303 Accumulated other comprehensive income (loss) includes cumulative translation losses of $ 2,738 and $ 2,453 at June 30, 2015 and December 31, 2014 , respectively, and unrecognized retirement plan and other retiree benefits costs of $ 1,037 and $ 1,064 at June 30, 2015 and December 31, 2014 , respectively.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	Three Months Ended June 30, 2015 June 30, 2014 Net income attributable to Colgate-Palmolive Company Shares (millions) Per Share Net income attributable to Colgate-Palmolive Company Shares (millions) Per Share Basic EPS $ 574 904.6 $ 0.63 $ 622 916.1 $ 0.68 Stock options and restricted stock units 7.8 9.8 Diluted EPS $ 574 912.4 $ 0.63 $ 622 925.9 $ 0.67 For the three months ended June 30, 2015 and 2014 , the average number of stock options and restricted stock units that were anti-dilutive and not included in diluted earnings per share calculations were 1,571,872 and 48,362 , respectively. Six Months Ended June 30, 2015 June 30, 2014 Net income attributable to Colgate-Palmolive Company Shares (millions) Per Share Net income attributable to Colgate-Palmolive Company Shares (millions) Per Share Basic EPS $ 1,116 906.1 $ 1.23 $ 1,010 917.8 $ 1.10 Stock options and restricted stock units 8.3 9.5 Diluted EPS $ 1,116 914.4 $ 1.22 $ 1,010 927.3 $ 1.09 For the six months ended June 30, 2015 and 2014 , the average number of stock options and restricted stock units that were anti-dilutive and not included in diluted earnings per share calculations were 1,573,532 and 36,266 , respectively.

Other Comprehensive Income (Tab

Other Comprehensive Income (Tables)	6 Months Ended
	Jun. 30, 2015
Equity [Abstract]
Schedule of Comprehensive Income (Loss)	Additions to and reclassifications out of Accumulated other comprehensive income (loss) attributable to the Company for the three months ended June 30, 2015 and 2014 were as follows: 2015 2014 Pretax Net of Tax Pretax Net of Tax Cumulative translation adjustments $ 64 $ 67 $ 29 $ 25 Retirement plans and other retiree benefits: Net actuarial gain (loss) and prior service costs arising during the period — — — — Amortization of net actuarial loss, transition and prior service costs (1) 22 14 14 8 Retirement plans and other retiree benefits adjustments 22 14 14 8 Available-for-sale securities: Unrealized gains (losses) on available-for-sale securities (2) (19 ) (12 ) 6 4 Reclassification of (gains) losses into net earnings on available-for-sale securities (3) 7 5 — — Gains (losses) on available-for-sale securities (12 ) (7 ) 6 4 Cash flow hedges: Unrealized gains (losses) on cash flow hedges (5 ) (3 ) (8 ) (4 ) Reclassification of (gains) losses into net earnings on cash flow hedges (4) (1 ) — — — Gains (losses) on cash flow hedges (6 ) (3 ) (8 ) (4 ) Total Other comprehensive income (loss) $ 68 $ 71 $ 41 $ 33 (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) For the three months ended June 30, 2015 , these amounts included a pretax loss of $28 related to the remeasurement of the bolivar-denominated fixed interest rate bonds and the devaluation-protected bonds in Venezuela. For the three months ended June 30, 2014, these amounts included a pretax gain of $4 related to the remeasurement of the bolivar-denominated fixed interest rate bonds and the devaluation-protected bonds in Venezuela. (3) Represents reclassification of losses on the Venezuela bonds into Other (income) expense, net due to an impairment in the fair value of the bonds as a result of the effective devaluation in the second quarter of 2015. See Note 14 , Fair Value Measurements and Financial Instruments for additional details. (4) These (gains) losses are reclassified into Cost of sales. See Note 14 , Fair Value Measurements and Financial Instruments for additional details. Additions to and reclassifications out of Accumulated other comprehensive income (loss) attributable to the Company for the six months ended June 30, 2015 and 2014 were as follows: 2015 2014 Pretax Net of Tax Pretax Net of Tax Cumulative translation adjustments $ (276 ) $ (285 ) $ (10 ) $ (18 ) Retirement plans and other retiree benefits: Net actuarial gain (loss) and prior service costs arising during the period (1 ) (1 ) 3 2 Amortization of net actuarial loss, transition and prior service costs (1) 44 28 28 19 Retirement plans and other retiree benefits adjustments 43 27 31 21 Available-for-sale securities: Unrealized gains (losses) on available-for-sale securities (2) (20 ) (13 ) (292 ) (190 ) Reclassification of (gains) losses into net earnings on available-for-sale securities (3) 7 5 211 138 Gains (losses) on available-for-sale securities (13 ) (8 ) (81 ) (52 ) Cash flow hedges: Unrealized gains (losses) on cash flow hedges 1 1 (6 ) (3 ) Reclassification of (gains) losses into net earnings on cash flow hedges (4) (7 ) (4 ) (3 ) (1 ) Gains (losses) on cash flow hedges (6 ) (3 ) (9 ) (4 ) Total Other comprehensive income (loss) $ (252 ) $ (269 ) $ (69 ) $ (53 ) (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) For the six months ended June 30, 2015 , these amounts included a pretax loss of $28 related to the remeasurement of the bolivar-denominated fixed interest rate bonds and the devaluation-protected bonds in Venezuela. For the six months ended June 30, 2014 , these amounts included a pretax loss of $272 related to the remeasurement of the bolivar-denominated fixed interest rate bonds and the devaluation-protected bonds in Venezuela. See Note 14 , Fair Value Measurements and Financial Instruments for additional details. (3) Represents reclassification of losses on the Venezuela bonds into Other (income) expense, net due to an impairment in the fair value of the bonds as a result of the effective devaluations in the second quarter of 2015 and the first quarter of 2014. See Note 14 , Fair Value Measurements and Financial Instruments for additional details. (4) These (gains) losses are reclassified into Cost of sales. See Note 14 , Fair Value Measurements and Financial Instruments for additional details.

Retirement Plans and Other Re27

Retirement Plans and Other Retiree Benefits (Tables)	6 Months Ended
	Jun. 30, 2015
Compensation and Retirement Disclosure [Abstract]
Components Of Net Periodic Benefit Cost	Components of Net periodic benefit cost for the three and six months ended June 30, 2015 and 2014 were as follows: Pension Benefits Other Retiree Benefits United States International Three Months Ended June 30, 2015 2014 2015 2014 2015 2014 Service cost $ 1 $ 1 $ 5 $ 5 $ 4 $ 3 Interest cost 25 26 7 9 12 11 ESOP offset — — — — (1 ) (1 ) Expected return on plan assets (29 ) (29 ) (6 ) (8 ) — (1 ) Amortization of transition and prior service costs (credits) — — 1 2 — — Amortization of actuarial loss (gain) 12 8 2 — 7 4 Net periodic benefit cost $ 9 $ 6 $ 9 $ 8 $ 22 $ 16 Pension Benefits Other Retiree Benefits United States International Six Months Ended June 30, 2015 2014 2015 2014 2015 2014 Service cost $ 1 $ 1 $ 10 $ 10 $ 8 $ 6 Interest cost 50 51 15 18 23 21 ESOP offset — — — — (1 ) (1 ) Expected return on plan assets (58 ) (56 ) (14 ) (15 ) (1 ) (1 ) Amortization of transition and prior service costs (credits) — — 1 3 — — Amortization of actuarial loss (gain) 24 16 5 1 14 8 Net periodic benefit cost $ 17 $ 12 $ 17 $ 17 $ 43 $ 33

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Net Sales and Operating Profit by Segment	Net sales and Operating profit by segment were as follows: Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 Net sales Oral, Personal and Home Care North America $ 780 $ 770 $ 1,569 $ 1,555 Latin America 1,126 1,231 2,213 2,383 Europe/South Pacific 731 873 1,472 1,738 Asia 623 610 1,284 1,282 Africa/Eurasia 254 308 508 606 Total Oral, Personal and Home Care 3,514 3,792 7,046 7,564 Pet Nutrition 552 560 1,090 1,113 Total Net sales $ 4,066 $ 4,352 $ 8,136 $ 8,677 Operating profit Oral, Personal and Home Care North America $ 223 $ 231 $ 441 $ 447 Latin America 321 311 629 601 Europe/South Pacific 183 227 367 444 Asia 181 178 374 371 Africa/Eurasia 45 58 84 117 Total Oral, Personal and Home Care 953 1,005 1,895 1,980 Pet Nutrition 146 146 293 290 Corporate (167 ) (171 ) (396 ) (656 ) Total Operating profit $ 932 $ 980 $ 1,792 $ 1,614

Fair Value Measurements and F29

Fair Value Measurements and Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2015
Financial Instruments and Fair Value Measurements [Abstract]
Schedule of derivative instruments	The following summarizes the fair value of the Company’s derivative instruments and other financial instruments at June 30, 2015 and December 31, 2014 : Assets Liabilities Account Fair Value Account Fair Value Designated derivative instruments 6/30/15 12/31/14 6/30/15 12/31/14 Interest rate swap contracts Other current assets $ 1 $ 1 Other accruals $ — $ — Interest rate swap contracts Other assets 12 12 Other liabilities — 2 Foreign currency contracts Other current assets 22 21 Other accruals 10 4 Foreign currency contracts Other assets 103 60 Other liabilities — — Commodity contracts Other current assets 1 — Other accruals — 1 Total designated $ 139 $ 94 $ 10 $ 7 Derivatives not designated Foreign currency contracts Other current assets $ 3 $ — Other accruals $ — $ — Foreign currency contracts Other assets 7 8 Other liabilities — — Total not designated $ 10 $ 8 $ — $ — Total derivative instruments $ 149 $ 102 $ 10 $ 7 Other financial instruments Marketable securities Other current assets $ 248 $ 200 Note receivable Other current assets 38 42 Available-for-sale securities Other assets 391 322 Total other financial instruments $ 677 $ 564
Activity related to fair value hedges	Activity related to fair value hedges recorded during the three and six months ended June 30, 2015 and 2014 was as follows: 2015 2014 Foreign Currency Contracts Interest Rate Swaps Total Foreign Currency Contracts Interest Rate Swaps Total Notional Value at June 30, $ 1,136 $ 1,438 $ 2,574 $ 1,210 $ 1,438 $ 2,648 Three months ended June 30: Gain (loss) on derivative (5 ) (4 ) (9 ) — 7 7 Gain (loss) on hedged items 5 4 9 — (7 ) (7 ) Six months ended June 30: Gain (loss) on derivative (3 ) 2 (1 ) 2 (3 ) (1 ) Gain (loss) on hedged items 3 (2 ) 1 (2 ) 3 1
Activity related to cash flow hedges	Activity related to cash flow hedges recorded during the three and six months ended June 30, 2015 and 2014 was as follows: 2015 2014 Foreign Currency Contracts Commodity Contracts Total Foreign Currency Contracts Commodity Contracts Total Notional Value at June 30, $ 666 $ 10 $ 676 $ 521 $ 14 $ 535 Three months ended June 30: Gain (loss) recognized in OCI (6 ) 1 (5 ) (7 ) (1 ) (8 ) Gain (loss) reclassified into Cost of sales 1 — 1 (1 ) 1 — Six months ended June 30: Gain (loss) recognized in OCI 1 — 1 (7 ) 1 (6 ) Gain (loss) reclassified into Cost of sales 8 (1 ) 7 1 2 3
Activity related to net investment hedges	Activity related to net investment hedges recorded during the three and six months ended June 30, 2015 and 2014 was as follows: 2015 2014 Foreign Currency Contracts Foreign Currency Debt Total Foreign Currency Contracts Foreign Currency Debt Total Notional Value at June 30, $ 786 $ 836 $ 1,622 $ 631 $ 53 $ 684 Three months ended June 30: Gain (loss) on instruments (29 ) (2 ) (31 ) — 2 2 Gain (loss) on hedged items 29 2 31 (1 ) (2 ) (3 ) Six months ended June 30: Gain (loss) on instruments 33 25 58 — 3 3 Gain (loss) on hedged items (33 ) (25 ) (58 ) — (3 ) (3 )
Activity related to derivatives not designated as hedging instruments	Activity related to these contracts during the three and six months ended June 30, 2015 and 2014 was as follows: 2015 2014 Foreign Currency Contract Cross-currency Total Foreign Currency Contract Cross-currency Swap Total Notional Value at June 30, $ 79 $ 102 $ 181 $ — $ 102 $ 102 Three months ended June 30: Gain (loss) on instrument 1 (6 ) (5 ) — (2 ) (2 ) Gain (loss) on hedged item — 6 6 — 2 2 Six months ended June 30: Gain (loss) on instrument 1 (1 ) — — (3 ) (3 ) Gain (loss) on hedged item — 1 1 — 3 3
Reconciliation of the Venezuelan investments at fair value	The following table presents a reconciliation of the Venezuelan bonds at fair value for the six months ended June 30 , 2015 and 2014: 2015 2014 Beginning balance as of January 1, $ 399 $ 685 Unrealized gain (loss) on investment (20 ) (292 ) Purchases and sales during the period 42 54 Ending balance as of June 30, $ 421 $ 447

Acquisitions and Divestitures (

Acquisitions and Divestitures (Details) - USD ($) $ in Millions	Oct. 03, 2014	Jun. 30, 2015	Jun. 30, 2014	Sep. 30, 2012	Sep. 30, 2011	Jun. 30, 2015	Jun. 30, 2014
MEXICO
Sale of Land in Mexico [Abstract]
First Installment received from the sale of land in Mexico					$ 24
Second Installment received from the sale of land in Mexico				$ 36
Pretax costs related to sale of land		$ 0	$ 2			$ 0	$ 3
Aftertax costs related to sale of land		$ 0	$ 1			$ 0	$ 2
Oral Care Member | MYANMAR
Business Acquisition [Line Items]
Cash consideration for acquisition of business	$ 62

Restructuring and Related Imp31

Restructuring and Related Implementation Charges (Details) - Two Thousand Twelve Restructuring Program [Member] $ in Millions	3 Months Ended	6 Months Ended
	Dec. 31, 2012	Jun. 30, 2015USD ($)
Restructuring Cost and Reserve [Line Items]
Duration of the Restructuring Program	4 years
Expected percent of total charges resulting in cash expenditure		75.00%
Employee-Related Costs [Member]
Restructuring Cost and Reserve [Line Items]
Estimated percent of total cumulative pretax charges of implementing restructuring program by category		50.00%
Incremental Depreciation And Asset Impairment [Member]
Restructuring Cost and Reserve [Line Items]
Estimated percent of total cumulative pretax charges of implementing restructuring program by category		10.00%
Charges Resulting Directly From Exit Activities [Member]
Restructuring Cost and Reserve [Line Items]
Estimated percent of total cumulative pretax charges of implementing restructuring program by category		20.00%
Implementation Of New Strategies [Member]
Restructuring Cost and Reserve [Line Items]
Estimated percent of total cumulative pretax charges of implementing restructuring program by category		20.00%
Pet Nutrition [Member]
Restructuring Cost and Reserve [Line Items]
Expected percent of total restructuring charges related to segment for the duration of the program		10.00%
Corporate, Non-Segment [Member]
Restructuring Cost and Reserve [Line Items]
Expected percent of total restructuring charges related to segment for the duration of the program		40.00%
North America [Member]
Restructuring Cost and Reserve [Line Items]
Expected percent of total restructuring charges related to segment for the duration of the program		15.00%
Europe/South Pacific [Member]
Restructuring Cost and Reserve [Line Items]
Expected percent of total restructuring charges related to segment for the duration of the program		20.00%
Latin America [Member]
Restructuring Cost and Reserve [Line Items]
Expected percent of total restructuring charges related to segment for the duration of the program		5.00%
Asia [Member]
Restructuring Cost and Reserve [Line Items]
Expected percent of total restructuring charges related to segment for the duration of the program		5.00%
Africa/Eurasia [Member]
Restructuring Cost and Reserve [Line Items]
Expected percent of total restructuring charges related to segment for the duration of the program		5.00%
Expected Completion Date 2016 [Member] | Minimum [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring program expected cost before tax		$ 1,285
Restructuring program expected cost after tax		$ 950
Restructuring and Related Cost, Positions Eliminated [Abstract]
Restructuring and Related Cost, Expected Number of Positions Eliminated		2,000
Expected Completion Date 2016 [Member] | Maximum [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring program expected cost before tax		$ 1,435
Restructuring program expected cost after tax		$ 1,050
Restructuring and Related Cost, Positions Eliminated [Abstract]
Restructuring and Related Cost, Expected Number of Positions Eliminated		2,500
Expected Completion Date December 2015 [Member] | Minimum [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring program expected cost before tax		$ 330
Restructuring program expected cost after tax		245
Expected Completion Date December 2015 [Member] | Maximum [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring program expected cost before tax		385
Restructuring program expected cost after tax		$ 285

Restructuring and Related Imp32

Restructuring and Related Implementation Charges (Details 1) - Two Thousand Twelve Restructuring Program [Member] - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Restructuring Cost and Reserve [Line Items]
Pretax charges related to the Restructuring Program	$ 52	$ 74	$ 152	$ 176
Aftertax charges related to the Restructuring Program	40	53	107	126
Cost of Sales [Member]
Restructuring Cost and Reserve [Line Items]
Pretax charges related to the Restructuring Program	4	6	8	16
Selling, General and Administrative Expenses [Member]
Restructuring Cost and Reserve [Line Items]
Pretax charges related to the Restructuring Program	11	12	29	29
Other (Income) Expense, Net [Member]
Restructuring Cost and Reserve [Line Items]
Pretax charges related to the Restructuring Program	$ 37	$ 56	$ 115	$ 131

Restructuring and Related Imp33

Restructuring and Related Implementation Charges (Details 2) - Two Thousand Twelve Restructuring Program [Member]	3 Months Ended		6 Months Ended		33 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015
Pet Nutrition [Member]
Restructuring Cost and Reserve [Line Items]
Percent Of Total Restructuring Charges Related To Segment for the period	13.00%	11.00%	7.00%	9.00%
Percent of Restructuring Charges Related to Segment Program to Date					8.00%
Corporate, Non-Segment [Member]
Restructuring Cost and Reserve [Line Items]
Percent Of Total Restructuring Charges Related To Segment for the period	34.00%	55.00%	56.00%	56.00%
Percent of Restructuring Charges Related to Segment Program to Date					46.00%
North America [Member]
Restructuring Cost and Reserve [Line Items]
Percent Of Total Restructuring Charges Related To Segment for the period	14.00%	11.00%	17.00%	10.00%
Percent of Restructuring Charges Related to Segment Program to Date					11.00%
Latin America [Member]
Restructuring Cost and Reserve [Line Items]
Percent Of Total Restructuring Charges Related To Segment for the period	5.00%	5.00%	2.00%	4.00%
Percent of Restructuring Charges Related to Segment Program to Date					3.00%
Europe/South Pacific [Member]
Restructuring Cost and Reserve [Line Items]
Percent Of Total Restructuring Charges Related To Segment for the period	19.00%	16.00%	11.00%	19.00%
Percent of Restructuring Charges Related to Segment Program to Date					25.00%
Asia [Member]
Restructuring Cost and Reserve [Line Items]
Percent Of Total Restructuring Charges Related To Segment for the period	11.00%	0.00%	4.00%	0.00%
Percent of Restructuring Charges Related to Segment Program to Date					2.00%
Africa/Eurasia [Member]
Restructuring Cost and Reserve [Line Items]
Percent Of Total Restructuring Charges Related To Segment for the period	4.00%	2.00%	3.00%	2.00%
Percent of Restructuring Charges Related to Segment Program to Date					5.00%

Restructuring and Related Imp34

Restructuring and Related Implementation Charges (Details 3) - Two Thousand Twelve Restructuring Program [Member] $ in Millions	Jun. 30, 2015USD ($)
Restructuring Cost and Reserve [Line Items]
Pretax charges related to the Restructuring Program to date	$ 898
Aftertax charges related to the Restructuring Program to date	663
Employee-Related Costs [Member]
Restructuring Cost and Reserve [Line Items]
Pretax charges related to the Restructuring Program to date	362
Incremental Depreciation [Member]
Restructuring Cost and Reserve [Line Items]
Pretax charges related to the Restructuring Program to date	60
Asset Impairment [Member]
Restructuring Cost and Reserve [Line Items]
Pretax charges related to the Restructuring Program to date	3
Other Restructuring [Member]
Restructuring Cost and Reserve [Line Items]
Pretax charges related to the Restructuring Program to date	$ 473

Restructuring and Related Imp35

Restructuring and Related Implementation Charges (Details 4) - Two Thousand Twelve Restructuring Program [Member] - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Restructuring Cost and Reserve [Line Items]
Beginning Balance	$ 231		$ 192
Charges	52	$ 74	152	$ 176
Cash payments	(47)		(88)
Charges against assets	(5)		(19)
Foreign exchange	0		(6)
Ending Balance	231		231
Employee-Related Costs [Member]
Restructuring Cost and Reserve [Line Items]
Beginning Balance	92		85
Charges	32		67
Cash payments	(29)		(44)
Charges against assets	(1)		(9)
Foreign exchange	0		(5)
Ending Balance	94		94
Incremental Depreciation [Member]
Restructuring Cost and Reserve [Line Items]
Beginning Balance	0		0
Charges	3		9
Cash payments	0		0
Charges against assets	(3)		(9)
Foreign exchange	0		0
Ending Balance	0		0
Asset Impairment [Member]
Restructuring Cost and Reserve [Line Items]
Beginning Balance	0		0
Charges	1		1
Cash payments	0		0
Charges against assets	(1)		(1)
Foreign exchange	0		0
Ending Balance	0		0
Other Restructuring [Member]
Restructuring Cost and Reserve [Line Items]
Beginning Balance	139		107
Charges	16		75
Cash payments	(18)		(44)
Charges against assets	0		0
Foreign exchange	0		(1)
Ending Balance	137		137
Third party Incremental Cost [Member]
Restructuring Cost and Reserve [Line Items]
Charges	14		26
Contract Termination [Member]
Restructuring Cost and Reserve [Line Items]
Charges	1		4
Land and Building [Member]
Restructuring Cost and Reserve [Line Items]
Charges	$ 1		$ 45

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Inventory, Net, Items Net of Reserve Alternative [Abstract]
Raw materials and supplies	$ 315	$ 349
Work-in-process	58	55
Finished goods	951	978
Total Inventories	$ 1,324	$ 1,382

Shareholders' Equity (Details)

Shareholders' Equity (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Changes in Shareholders' Equity [Roll Forward]
Beginning balance			$ 1,385
Net income	$ 616	$ 661	1,199	$ 1,093
Other comprehensive income (loss), net of tax	70	$ 33	(269)	$ (54)
Ending balance	757		757
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax	2,738		2,738		$ 2,453
Accumulated Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net of Tax	1,037		1,037		$ 1,064
Common Stock [Member]
Changes in Shareholders' Equity [Roll Forward]
Beginning balance			1,466
Ending balance	1,466		1,466
Additional Paid-In Capital [Member]
Changes in Shareholders' Equity [Roll Forward]
Beginning balance			1,236
Stock-based compensation expense			51
Shares issued for stock options			50
Shares issued for restricted stock units			(31)
Other			4
Ending balance	1,310		1,310
Unearned Compensation [Member]
Changes in Shareholders' Equity [Roll Forward]
Beginning balance			(20)
Other			11
Ending balance	(9)		(9)
Treasury Stock [Member]
Changes in Shareholders' Equity [Roll Forward]
Beginning balance			(16,862)
Shares issued for stock options			125
Shares issued for restricted stock units			31
Treasury stock acquired			(767)
Ending balance	(17,473)		(17,473)
Retained Earnings [Member]
Changes in Shareholders' Equity [Roll Forward]
Beginning balance			18,832
Net income			1,116
Dividends			(1,012)
Ending balance	18,936		18,936
Accumulated Other Comprehensive Income (Loss) [Member]
Changes in Shareholders' Equity [Roll Forward]
Beginning balance			(3,507)
Other comprehensive income (loss), net of tax			(269)
Ending balance	(3,776)		(3,776)
Noncontrolling Interests [Member]
Changes in Shareholders' Equity [Roll Forward]
Beginning balance			240
Net income			$ 83
Other comprehensive income (loss), net of tax
Dividends			$ (20)
Ending balance	$ 303		$ 303

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Earnings Per Share Reconciliation [Abstract]
Net income attributable to Colgate-Palmolive Company, Basic	$ 574	$ 622	$ 1,116	$ 1,010
Net income attributable to Colgate-Palmolive Company, Diluted	$ 574	$ 622	$ 1,116	$ 1,010
Weighted Average Number of Shares Outstanding, Diluted [Abstract]
Basic EPS (in shares)	904,600,000	916,100,000	906,100,000	917,800,000
Stock options and restricted stock (in shares)	7,800,000	9,800,000	8,300,000	9,500,000
Diluted EPS (in shares)	912,400,000	925,900,000	914,400,000	927,300,000
Earnings Per Share, Basic and Diluted [Abstract]
Earnings Per Share, Basic	$ 0.63	$ 0.68	$ 1.23	$ 1.10
Earnings Per Share, Diluted	$ 0.63	$ 0.67	$ 1.22	$ 1.09
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	1,571,872	48,362	1,573,532	36,266

Other Comprehensive Income (L39

Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2015		Jun. 30, 2014		Jun. 30, 2015		Jun. 30, 2014
Equity [Abstract]
Cumulative translation adjustments, before-tax	$ 64		$ 29		$ (276)		$ (10)
Cumulative translation adjustment, net-of-tax	67		25		(285)		(18)
Retirement plans and other retiree benefits:
Net actuarial gains (losses) and prior service costs arising during the period, before-tax	0		0		(1)		3
Net actuarial gains (losses) and prior service costs arising during the period, net-of-tax	0		0		(1)		2
Amortization of net actuarial loss, transition & prior service costs, before-tax	22	[1]	14	[1]	44	[2]	28	[2]
Amortization of net actuarial loss, transition & prior service costs, net-of-tax	14	[1]	8	[1]	28	[2]	19	[2]
Retirement Plan and other retiree benefit adjustments, before-tax	22		14		43		31
Retirement Plan and other retiree benefit adjustments, net-of-tax	14		8		27		21
Available-for-sale securities:
Unrealized gains (losses) on available-for-sale securities, before-tax	(19)	[3]	6	[3]	(20)	[4]	(292)	[4]
Unrealized gains (losses) on available-for-sale securities, net-of-tax	(12)	[3]	4	[3]	(13)	[4]	(190)	[4]
Reclassification of (gains) losses into net earnings on available-for-sale securities, before-tax	7	[5]	0	[5]	7	[6]	211	[6]
Reclassification of (gains) losses into net earnings on available-for-sale securities, net-of-tax	5	[5]	0	[5]	5	[6]	138	[6]
Gains (losses) on available-for-sale securities, before-tax	(12)		6		(13)		(81)
Gains (losses) on available-for-sale securities, net-of-tax	(7)		4		(8)		(52)
Cash flow hedges:
Unrealized gains (losses) on cash flow hedges, before-tax	(5)		(8)		1		(6)
Unrealized gains (losses) on cash flow hedges, net-of-tax	(3)		(4)		1		(3)
Reclassification of (gains) losses into net earnings on cash flow hedges, before-tax	(1)	[7]	0	[7]	(7)	[8]	(3)	[8]
Reclassification of (gains) losses into net earnings on cash flow hedges, net-of-tax	0	[7]	0	[7]	(4)	[8]	(1)	[8]
Gains (losses) on cash flow hedges, before-tax	(6)		(8)		(6)		(9)
Gains (losses) on cash flow hedges, net-of-tax	(3)		(4)		(3)		(4)
Total other comprehensive income (loss), before-tax	68		41		(252)		(69)
Total other comprehensive income (loss), net-of-tax	71		33		(269)		(53)
Remeasurement Due To Change in Foreign Exchange Rates [Abstract]
Loss (gain) related to the remeasurement of fixed interest rate and devaluation-protected bonds in Venezuela	$ 28		$ (4)		$ 28		$ 272
[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 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.
[3]	For the three months ended June 30, 2015, these amounts included a pretax loss of $28 related to the remeasurement of the bolivar-denominated fixed interest rate bonds and the devaluation-protected bonds in Venezuela. For the three months ended June 30, 2014, these amounts included a pretax gain of $4 related to the remeasurement of the bolivar-denominated fixed interest rate bonds and the devaluation-protected bonds in Venezuela.
[4]	For the six months ended June 30, 2015, these amounts included a pretax loss of $28 related to the remeasurement of the bolivar-denominated fixed interest rate bonds and the devaluation-protected bonds in Venezuela. For the six months ended June 30, 2014, these amounts included a pretax loss of $272 related to the remeasurement of the bolivar-denominated fixed interest rate bonds and the devaluation-protected bonds in Venezuela. See Note 14, Fair Value Measurements and Financial Instruments for additional details.
[5]	Represents reclassification of losses on the Venezuela bonds into Other (income) expense, net due to an impairment in the fair value of the bonds as a result of the effective devaluation in the second quarter of 2015. See Note 14, Fair Value Measurements and Financial Instruments for additional details.
[6]	Represents reclassification of losses on the Venezuela bonds into Other (income) expense, net due to an impairment in the fair value of the bonds as a result of the effective devaluations in the second quarter of 2015 and the first quarter of 2014. See Note 14, Fair Value Measurements and Financial Instruments for additional details.
[7]	These (gains) losses are reclassified into Cost of sales. See Note 14, Fair Value Measurements and Financial Instruments for additional details.
[8]	These (gains) losses are reclassified into Cost of sales. See Note 14, Fair Value Measurements and Financial Instruments for additional details.

Retirement Plans and Other Re40

Retirement Plans and Other Retiree Benefits (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
United States Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Voluntary benefit plan contribution			$ 0	$ 0
Components of net periodic benefit cost
Service Cost	$ 1	$ 1	1	1
Interest cost	25	26	50	51
ESOP Offset	0	0	0	0
Expected return on plan assets	(29)	(29)	(58)	(56)
Amortization of transition and prior service costs (credits)	0	0	0	0
Amortization of actuarial loss (gain)	12	8	24	16
Net periodic benefit cost	9	6	17	12
International Pension Benefits [Member]
Components of net periodic benefit cost
Service Cost	5	5	10	10
Interest cost	7	9	15	18
ESOP Offset	0	0	0	0
Expected return on plan assets	(6)	(8)	(14)	(15)
Amortization of transition and prior service costs (credits)	1	2	1	3
Amortization of actuarial loss (gain)	2	0	5	1
Net periodic benefit cost	9	8	17	17
Other Retiree Benefits [Member]
Components of net periodic benefit cost
Service Cost	4	3	8	6
Interest cost	12	11	23	21
ESOP Offset	(1)	(1)	(1)	(1)
Expected return on plan assets	0	(1)	(1)	(1)
Amortization of transition and prior service costs (credits)	0	0	0	0
Amortization of actuarial loss (gain)	7	4	14	8
Net periodic benefit cost	$ 22	$ 16	$ 43	$ 33

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Income Tax Contingency [Line Items]
Unrecognized tax benefits		$ 218
Foreign Tax Authority [Member]
Income Tax Contingency [Line Items]
Increase in unrecognized tax benefits	$ 15

Contingencies (Details)

Contingencies (Details) - Jun. 30, 2015 $ in Millions	USD ($)country_and_territory
Loss Contingency [Abstract]
Minimum Number Of Countries And Territories Serving Consumers | country_and_territory	200
Range of reasonably possible losses, minimum	$ 0
Range of reasonably possible losses, maximum	200
Brazilian internal revenue authority, matter 1	94
Brazilian internal revenue authority, matter 2	58
European competition matters - Swiss competition law authority	6
European competition matters - Italian competition law authority	3
Fine Imposed French Competition Authority	57
Fine Imposed French Competition Authority - As a result of Sanex Acquisition	25
European competition matters - Hill's France Subsidiary	$ 7

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Mar. 31, 2014	Jun. 30, 2015	Jun. 30, 2014
Segment Reporting Information [Line Items]
Pretax Remeasurement Charge				$ 16	$ 266
Total Net sales	$ 4,066	$ 4,352		8,136	8,677
Total Operating profit	932	980		1,792	1,614
MEXICO
Segment Reporting Information [Line Items]
Pretax costs related to sale of land	0	2		0	3
Operating Segments [Member] | Oral, Personal and Home Care [Member]
Segment Reporting Information [Line Items]
Total Net sales	3,514	3,792		7,046	7,564
Total Operating profit	953	1,005		1,895	1,980
Operating Segments [Member] | Pet Nutrition [Member]
Segment Reporting Information [Line Items]
Total Net sales	552	560		1,090	1,113
Total Operating profit	146	146		293	290
Operating Segments [Member] | North America [Member] | Oral, Personal and Home Care [Member]
Segment Reporting Information [Line Items]
Total Net sales	780	770		1,569	1,555
Total Operating profit	223	231		441	447
Operating Segments [Member] | Latin America [Member] | Oral, Personal and Home Care [Member]
Segment Reporting Information [Line Items]
Total Net sales	1,126	1,231		2,213	2,383
Total Operating profit	321	311		629	601
Operating Segments [Member] | Europe/South Pacific [Member] | Oral, Personal and Home Care [Member]
Segment Reporting Information [Line Items]
Total Net sales	731	873		1,472	1,738
Total Operating profit	183	227		367	444
Operating Segments [Member] | Asia [Member] | Oral, Personal and Home Care [Member]
Segment Reporting Information [Line Items]
Total Net sales	623	610		1,284	1,282
Total Operating profit	181	178		374	371
Operating Segments [Member] | Africa/Eurasia [Member] | Oral, Personal and Home Care [Member]
Segment Reporting Information [Line Items]
Total Net sales	254	308		508	606
Total Operating profit	45	58		84	117
Corporate, Non-Segment [Member]
Segment Reporting Information [Line Items]
Total Operating profit	(167)	(171)		(396)	(656)
Two Thousand Twelve Restructuring Program [Member]
Segment Reporting Information [Line Items]
Pretax charges related to the Restructuring Program	$ 52	$ 74		$ 152	176
Sales Revenue, Net [Member]
Segment Reporting Information [Line Items]
Percentage of Consolidated Net Sales represented by Sales outside US	80.00%			80.00%
Percentage of Consolidated Net Sales coming from Emerging Markets	50.00%			50.00%
CP Venezuela [Member]
Segment Reporting Information [Line Items]
Pretax Remeasurement Charge	$ 16		$ 266	$ 16	$ 266

Fair Value Measurements and F44

Fair Value Measurements and Financial Instruments (Details 1) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014	Dec. 31, 2013
Designated derivative instruments
Derivative Assets	$ 139	$ 94
Derivative Liabilities	10	7
Derivative Instruments Not Designated as Hedging Instruments [Abstract]
Derivative Instruments Not Designated as Hedging Instruments, Asset, at Fair Value	10	8
Derivative Instruments Not Designated as Hedging Instruments, Liability, at Fair Value	0	0
Total assets derivatives	149	102
Total liabilities derivatives	10	7
Financial Instruments, Owned, at Fair Value [Abstract]
Total other financial instruments	677	564
Bonds Issued By Venezuelan Government [Member]
Financial Instruments, Owned, at Fair Value [Abstract]
Available-for-sale Securities, Fair Value Disclosure	421	399	$ 447	$ 685
Other Current Assets [Member]
Financial Instruments, Owned, at Fair Value [Abstract]
Marketable Securities	248	200
Notes Receivable, Fair Value Disclosure	38	42
Other Current Assets [Member] | Fair Value, Inputs, Level 2 [Member] | Bonds Issued By Venezuelan Government [Member]
Financial Instruments, Owned, at Fair Value [Abstract]
Marketable Securities	30
Interest Rate Swap Contracts [Member] | Other Current Assets [Member]
Designated derivative instruments
Derivative Assets	1	1
Interest Rate Swap Contracts [Member] | Other accruals [Member]
Designated derivative instruments
Derivative Liabilities	0	0
Interest Rate Swap Contracts [Member] | Other Assets [Member]
Designated derivative instruments
Derivative Assets	12	12
Interest Rate Swap Contracts [Member] | Other Liabilities [Member]
Designated derivative instruments
Derivative Liabilities	0	2
Foreign Currency Contracts [Member] | Other Current Assets [Member]
Designated derivative instruments
Derivative Assets	22	21
Derivative Instruments Not Designated as Hedging Instruments [Abstract]
Derivative Instruments Not Designated as Hedging Instruments, Asset, at Fair Value	3	0
Foreign Currency Contracts [Member] | Other accruals [Member]
Designated derivative instruments
Derivative Liabilities	10	4
Derivative Instruments Not Designated as Hedging Instruments [Abstract]
Derivative Instruments Not Designated as Hedging Instruments, Liability, at Fair Value	0	0
Foreign Currency Contracts [Member] | Other Assets [Member]
Designated derivative instruments
Derivative Assets	103	60
Derivative Instruments Not Designated as Hedging Instruments [Abstract]
Derivative Instruments Not Designated as Hedging Instruments, Asset, at Fair Value	7	8
Foreign Currency Contracts [Member] | Other Liabilities [Member]
Designated derivative instruments
Derivative Liabilities	0	0
Derivative Instruments Not Designated as Hedging Instruments [Abstract]
Derivative Instruments Not Designated as Hedging Instruments, Liability, at Fair Value	0	0
Commodity Contracts [Member] | Other Current Assets [Member]
Designated derivative instruments
Derivative Assets	1	0
Commodity Contracts [Member] | Other accruals [Member]
Designated derivative instruments
Derivative Liabilities	0	1
Estimate of Fair Value Measurement [Member] | Other Assets [Member] | Fair Value, Inputs, Level 2 [Member] | Bonds Issued By Venezuelan Government [Member]
Financial Instruments, Owned, at Fair Value [Abstract]
Available-for-sale Securities, Fair Value Disclosure	$ 391	$ 322

Fair Value Measurements and F45

Fair Value Measurements and Financial Instruments (Details 2) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Carrying Value [Member]
Debt Instrument [Line Items]
Carrying value of long-term debt	$ 6,674	$ 6,132
Fair Value, Inputs, Level 2 [Member]
Debt Instrument [Line Items]
Estimated fair value of long-term debt	$ 6,838	$ 6,346

Fair Value Measurements and F46

Fair Value Measurements and Financial Instruments (Details 3) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Notional value	$ 181	$ 102	$ 181	$ 102
Activity related to derivatives not designated as hedging instruments [Abstract]
Gain (loss) on instrument	(5)	(2)	0	(3)
Gain (loss) on hedged item	6	2	1	3
Not Designated as Hedging Instrument [Member] | Foreign Currency Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Notional value	79	0	79	0
Activity related to derivatives not designated as hedging instruments [Abstract]
Gain (loss) on instrument	1	0	1	0
Gain (loss) on hedged item	0	0	0	0
Not Designated as Hedging Instrument [Member] | Cross-Currency Swap [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Notional value	102	102	102	102
Activity related to derivatives not designated as hedging instruments [Abstract]
Gain (loss) on instrument	(6)	(2)	(1)	(3)
Gain (loss) on hedged item	6	2	1	3
Fair Value Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Notional value	2,574	2,648	2,574	2,648
Activity related to fair value hedges [Abstract]
Gain (loss) on derivative	(9)	7	(1)	(1)
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	9	(7)	1	1
Fair Value Hedging [Member] | Foreign Currency Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Notional value	1,136	1,210	1,136	1,210
Activity related to fair value hedges [Abstract]
Gain (loss) on derivative	(5)	0	(3)	2
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	5	0	3	(2)
Fair Value Hedging [Member] | Interest Rate Swap Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Notional value	1,438	1,438	1,438	1,438
Activity related to fair value hedges [Abstract]
Gain (loss) on derivative	(4)	7	2	(3)
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	4	(7)	(2)	3
Cash Flow Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Notional value	676	535	676	535
Activity related to cash flow hedges [Abstract]
Gain (loss) recognized in OCI	(5)	(8)	1	(6)
Cash Flow Hedging [Member] | Foreign Currency Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Notional value	666	521	666	521
Activity related to cash flow hedges [Abstract]
Gain (loss) recognized in OCI	(6)	(7)	1	(7)
Cash Flow Hedging [Member] | Commodity Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Notional value	10	14	10	14
Activity related to cash flow hedges [Abstract]
Gain (loss) recognized in OCI	1	(1)	0	1
Net Investment Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Notional value	1,622	684	1,622	684
Activity related to net investment hedges [Abstract]
Gain (loss) on instruments	(31)	2	58	3
Gain (loss) on hedged item	31	(3)	(58)	(3)
Net Investment Hedging [Member] | Foreign Currency Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Notional value	786	631	786	631
Activity related to net investment hedges [Abstract]
Gain (loss) on instruments	(29)	0	33	0
Gain (loss) on hedged item	29	(1)	(33)	0
Net Investment Hedging [Member] | Foreign Currency Denominated Debt [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Notional value	836	53	836	53
Activity related to net investment hedges [Abstract]
Gain (loss) on instruments	(2)	2	25	3
Gain (loss) on hedged item	2	(2)	(25)	(3)
Reclassification out of Accumulated Other Comprehensive Income [Member] | Cash Flow Hedging [Member]
Activity related to cash flow hedges [Abstract]
Gain (loss) reclassified into Cost of sales	1	0	7	3
Reclassification out of Accumulated Other Comprehensive Income [Member] | Cash Flow Hedging [Member] | Foreign Currency Contracts [Member]
Activity related to cash flow hedges [Abstract]
Gain (loss) reclassified into Cost of sales	1	(1)	8	1
Reclassification out of Accumulated Other Comprehensive Income [Member] | Cash Flow Hedging [Member] | Commodity Contracts [Member]
Activity related to cash flow hedges [Abstract]
Gain (loss) reclassified into Cost of sales	$ 0	$ 1	$ (1)	$ 2

Fair Value Measurements and F47

Fair Value Measurements and Financial Instruments (Details 4) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014	Dec. 31, 2013
Schedule of Available-for-sale Securities [Line Items]
Loss (gain) related to the remeasurement of fixed interest rate and devaluation-protected bonds in Venezuela	$ 28	$ (4)	$ 28	$ 272
Bonds Issued By Venezuelan Government [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities	421	$ 447	421	$ 447	$ 399	$ 685
Other Current Assets [Member]
Schedule of Available-for-sale Securities [Line Items]
Marketable Securities	248		248		200
Notes Receivable, Fair Value Disclosure	38		38		42
Other Assets [Member]
Schedule of Available-for-sale Securities [Line Items]
Held-to-maturity Securities, Noncurrent	35		35
Fair Value, Inputs, Level 1 [Member] | Other Current Assets [Member] | Deposits [Member]
Schedule of Available-for-sale Securities [Line Items]
Marketable Securities	218		218
Fair Value, Inputs, Level 2 [Member] | Bonds Issued By Venezuelan Government [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair Value of U.S. dollar-linked, devaluation-protected bonds	73		73
Fair Value of fixed interest rate bonds	348		348
Fair Value, Inputs, Level 2 [Member] | Other Current Assets [Member] | Bonds Issued By Venezuelan Government [Member]
Schedule of Available-for-sale Securities [Line Items]
Marketable Securities	30		30
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | Other Assets [Member] | Bonds Issued By Venezuelan Government [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities	$ 391		$ 391		$ 322

Fair Value Measurements and F48

Fair Value Measurements and Financial Instruments (Details 5) - Bonds Issued By Venezuelan Government [Member] - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Venezuelan Investments [Roll Forward]
Beginning balance	$ 399	$ 685
Unrealized gain (loss) on investment	(20)	(292)
Purchases and sales during the period	42	54
Ending balance	$ 421	$ 447

Venezuela (Details)

Venezuela (Details) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015USD ($)VEF / $$ / shares	Mar. 31, 2014USD ($)VEF / $$ / shares	Jun. 30, 2015USD ($)VEF / $	Jun. 30, 2014USD ($)VEF / $	Mar. 31, 2015VEF / $
Foreign Currency [Line Items]
Pretax Remeasurement Charge			$ 16	$ 266
CP Venezuela [Member]
Foreign Currency [Line Items]
Pretax Remeasurement Charge	$ 16	$ 266	16	$ 266
Aftertax Remeasurement Charge	$ 10	$ 174
Impact of Aftertax Remeasurement Charge Per Common Share Diluted | $ / shares	$ 0.01	$ 0.19
Bolivar Fuerte denominated monetary net asset position	$ 602		602
Bolivar Fuerte denominated non monetary asset position	296		296
Bolivar Fuerte Denominated Non Monetary Fixed Asset Position	231		231
Total Investment in CP Venezuela Including Intercompany Payables	$ 1,009		$ 1,009
CP Venezuela [Member] | Sales Revenue, Net [Member]
Foreign Currency [Line Items]
Percentage of consolidated Net sales represented by CP Venezuela			4.00%
VENEZUELA
Foreign Currency [Line Items]
Official Exchange Rate | VEF / $	6.30		6.30
SICAD Exchange Rate | VEF / $	12.80	10.70	12.80	10.60	12
SIMADI Exchange Rate | VEF / $	197.30		197.30