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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2018
USD ($)
Dividend
$ / shares
Sep. 30, 2017
USD ($)
Dividend
$ / shares
Sep. 30, 2018
USD ($)
$ / shares
Sep. 30, 2017
USD ($)
$ / shares
[1]
Income Statement [Abstract]        
Net sales $ 3,845 $ 3,974 [1] $ 11,733 $ 11,562
Cost of sales 1,576 1,591 [1] 4,755 4,610
Gross profit 2,269 2,383 [1] 6,978 6,952
Selling, general and administrative expenses 1,369 1,410 [1] 4,061 4,055
Other (income) expense, net 26 16 [1] 114 150
Operating profit 874 957 [1] 2,803 2,747
Non-service related postretirement costs 18 30 [1] 65 82
Interest (income) expense, net 36 27 [1] 106 74
Income before income taxes 820 900 [1] 2,632 2,591
Provision for income taxes 258 250 [1] 717 770
Net income including noncontrolling interests 562 650 [1] 1,915 1,821
Less: Net income attributable to noncontrolling interests 39 43 [1] 121 120
Net income attributable to Colgate-Palmolive Company $ 523 $ 607 [1] $ 1,794 $ 1,701
Earnings per common share, basic (in dollars per share) | $ / shares $ 0.60 $ 0.69 [1] $ 2.06 $ 1.93
Earnings per common share, diluted (in dollars per share) | $ / shares 0.60 0.68 [1] 2.05 1.91
Dividends declared per common share (in dollars per share) | $ / shares [2] $ 0.42 $ 0.40 [1] $ 1.66 $ 1.59
Number of dividends declared per quarter (in dividends) | Dividend 2 2    
[1] Prior year amounts have been reclassified to conform to the current year presentation as a result of the adoption of Accounting Standards Update (“ASU”) No. 2017-07, “Compensation-Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost.” For further information regarding the impact of the reclassification, see Note 1, Basis of Presentation, Note 3, Recent Accounting Pronouncements and Updated Accounting Policies and Note 13, Segment Information to the Condensed Consolidated Financial Statements.
[2] Two dividends were declared in the first quarter of 2018 and 2017.