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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Operating Activities      
Net income including noncontrolling interests $ 1,548 [1] $ 2,339 [2] $ 2,410
Adjustments to reconcile net income including noncontrolling interests to net cash provided by operations:      
Depreciation and amortization 449 442 439
Restructuring and termination benefits, net of cash 69 64 182
Venezuela remeasurement charges 34 327 172
Voluntary benefit plan contributions 0 (2) (101)
Charge for a foreign tax matter 0 66 0
Stock-based compensation expense 125 131 128
Gain on sale of South Pacific laundry detergent business (187) 0 0
Charge for Venezuela Accounting Change 1,084 0 0
Deferred income taxes (51) 18 71
Cash effects of changes in:      
Receivables (75) (109) (37)
Inventories (13) (60) (97)
Accounts payable and other accruals (67) 57 24
Other non-current assets and liabilities 33 25 13
Net cash provided by operations 2,949 3,298 3,204
Investing Activities      
Capital expenditures (691) (757) (670)
Sale of property and non-core product lines 9 24 15
Purchases of marketable securities and investments (742) (340) (505)
Proceeds from sale of marketable securities and investments 599 283 267
Proceeds from sale of South Pacific laundry detergent business 221 0 0
Payment for acquisitions, net of cash acquired (13) (87) (3)
Reduction in cash due to Venezuela accounting change (75) 0 0
Other 7 18 6
Net cash used in investing activities (685) (859) (890)
Financing Activities      
Principal payments on debt (9,181) (8,525) (7,554)
Proceeds from issuance of debt 9,602 8,960 7,976
Dividends paid (1,493) (1,446) (1,382)
Purchases of treasury shares (1,551) (1,530) (1,521)
Proceeds from exercise of stock options and excess tax benefits 347 371 339
Net cash used in financing activities (2,276) (2,170) (2,142)
Effect of exchange rate changes on Cash and cash equivalents (107) (142) (94)
Net (decrease) increase in Cash and cash equivalents (119) 127 78
Cash and cash equivalents at beginning of year 1,089 962 884
Cash and cash equivalents at end of year 970 1,089 962
Supplemental Cash Flow Information      
Income taxes paid 1,259 1,009 1,087
Interest paid $ 131 $ 133 $ 118
[1] 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.
[2] 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.