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v3.24.2

Retirement Plans and Other Retiree Benefits | 6 Months Ended
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Jun. 30, 2024
Retirement Benefits [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, 2024 and 2023 were as follows:
| Three Months Ended June 30,
| Pension Benefits |  | Other Retiree Benefits
| United States |  | International |  |  |  |
| 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2024 |  | 2023
Service cost | $ | — |  |  | $ | — |  |  | $ | 5 |  |  | $ | 3 |  |  | $ | 2 |  |  | $ | 2 |
Interest cost | 24 |  |  | 25 |  |  | 7 |  |  | 8 |  |  | 11 |  |  | 11 |
Expected return on plan assets | (20) |  |  | (21) |  |  | (6) |  |  | (5) |  |  | — |  |  | — |
Amortization of actuarial loss (gain) | 11 |  |  | 11 |  |  | — |  |  | 1 |  |  | (5) |  |  | (4) |
Net periodic benefit cost | $ | 15 |  |  | $ | 15 |  |  | $ | 6 |  |  | $ | 7 |  |  | $ | 8 |  |  | $ | 9 |
Other postretirement charges | — |  |  | 3 |  |  | — |  |  | — |  |  | — |  |  | — |
Total pension cost | $ | 15 |  |  | $ | 18 |  |  | $ | 6 |  |  | $ | 7 |  |  | $ | 8 |  |  | $ | 9 |
| Six Months Ended June 30,
| Pension Benefits |  | Other Retiree Benefits
| United States |  | International |  |  |  |
| 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2024 |  | 2023
Service cost | $ | — |  |  | $ | — |  |  | $ | 8 |  |  | $ | 6 |  |  | $ | 4 |  |  | $ | 4 |
Interest cost | 47 |  |  | 48 |  |  | 15 |  |  | 16 |  |  | 19 |  |  | 22 |
Expected return on plan assets | (39) |  |  | (41) |  |  | (13) |  |  | (9) |  |  | — |  |  | — |
Amortization of actuarial loss (gain) | 21 |  |  | 22 |  |  | 2 |  |  | 2 |  |  | (8) |  |  | (8) |
Net periodic benefit cost | $ | 29 |  |  | $ | 29 |  |  | $ | 12 |  |  | $ | 15 |  |  | $ | 15 |  |  | $ | 18 |
Other postretirement charges | — |  |  | 4 |  |  | — |  |  | — |  |  | — |  |  | — |
ERISA litigation matter | — |  |  | 267 |  |  | — |  |  | — |  |  | — |  |  | — |
Total pension cost | $ | 29 |  |  | $ | 300 |  |  | $ | 12 |  |  | $ | 15 |  |  | $ | 15 |  |  | $ | 18 |
There were no other postretirement charges for the three and six months ended June 30, 2024. Other postretirement charges for the three and six months ended June 30, 2023 included pension and other charges of $3 and $4, respectively, incurred pursuant to the 2022 Global Productivity Initiative. In the first quarter of 2023, the Company recorded a charge of $267 as a result of a decision of the United States Court of Appeals for the Second Circuit (the “Second Circuit”) affirming a grant of summary judgment to the plaintiffs in a lawsuit under the Employee Retirement Income Security Act (“ERISA”) seeking the recalculation of benefits and other relief associated with a 2005 residual annuity amendment to the Colgate-Palmolive Company Employees’ Retirement Income Plan (the “Retirement Plan”). The decision resulted in an increase in the obligations of the Retirement Plan, which based on the current funded status of the Retirement Plan will require no immediate cash contribution by the Company. See Note 9, Contingencies for additional information. For the three and six months ended June 30, 2024 and 2023, the Company made no voluntary contributions to its U.S. postretirement plans.

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