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Consolidated Statements of Income - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Income Statement [Abstract]      
Net sales $ 16,034 $ 17,277 $ 17,420
Cost of sales 6,635 7,168 7,219
Gross profit 9,399 [1] 10,109 [2] 10,201
Selling, general and administrative expenses 5,464 5,982 6,223
Other (income) expense, net 62 570 422
Charge for Venezuela Accounting Change 1,084 0 0
Operating profit 2,789 3,557 3,556
Interest (income) expense, net 26 24 (9)
Income before income taxes 2,763 3,533 3,565
Provision for income taxes 1,215 1,194 1,155
Net income including noncontrolling interests 1,548 [3] 2,339 [4] 2,410
Less: Net income attributable to noncontrolling interests 164 159 169
Net income attributable to Colgate-Palmolive Company $ 1,384 [3] $ 2,180 [4] $ 2,241
Earnings per common share, basic (in dollars per share) $ 1.53 [3] $ 2.38 [4] $ 2.41
Earnings per common share, diluted (in dollars per share) $ 1.52 [3] $ 2.36 [4] $ 2.38
[1] Gross profit for the full year of 2015 includes $20 of charges related to the 2012 Restructuring Program.
[2] Gross profit for the full year of 2014 includes $29 of charges related to the 2012 Restructuring Program and $4 of costs related to the sale of land in Mexico.
[3] Net income (loss) including noncontrolling interests, Net income (loss) attributable to Colgate-Palmolive Company and earnings (loss) per common share for the full year of 2015 include a $1,058 aftertax charge related to the change in accounting for the Company’s Venezuelan operations, $183 of aftertax charges related to the 2012 Restructuring Program, $22 of aftertax charges related to the remeasurement of CP Venezuela’s local currency-denominated net monetary assets as a result of effective devaluations, a $120 aftertax gain on the sale of the Company’s laundry detergent business in the South Pacific, a $15 charge for a foreign tax matter and a $14 aftertax charge related to a foreign competition law matter.
[4] Net income including noncontrolling interests, Net income attributable to Colgate-Palmolive Company and earnings per common share for the full year of 2014 include $208 of aftertax charges related to the 2012 Restructuring Program, $214 of aftertax charges related to the remeasurement of CP Venezuela’s local currency-denominated net monetary assets as a result of effective devaluations, $41 of charges for a foreign competition law matter, $3 of aftertax costs related to the sale of land in Mexico and a $66 charge for a foreign tax matter.