XML 60 R40.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
Income Tax Disclosure [Abstract] |
Schedule of Components of Income Before Income Taxes | The components of Income before income taxes are as follows for the years ended December 31:
|  | 2024 |  | 2023 |  | 2022
United States |  | $ | 1,084 |  |  | $ | 692 |  |  | $ | 1,169 |
International |  | 2,872 |  |  | 2,700 |  |  | 1,491 |
Total Income before income taxes |  | $ | 3,956 |  |  | $ | 3,392 |  |  | $ | 2,660 |
Schedule of Provision for Income Taxes | The Provision for income taxes consists of the following for the years ended December 31:
|  | 2024 |  | 2023 |  | 2022
United States |  | $ | 188 |  |  | $ | 72 |  |  | $ | 199 |
International |  | 719 |  |  | 865 |  |  | 494 |
Total Provision for income taxes |  | $ | 907 |  |  | $ | 937 |  |  | $ | 693 |
Schedule of Components of Deferred Income Tax Benefit | Temporary differences between accounting for financial statement purposes and accounting for tax purposes result in the current provision for taxes being higher (lower) than the total provision for income taxes as follows:
|  | 2024 |  | 2023 |  | 2022
Goodwill and intangible assets |  | $ | 3 |  |  | $ | 1 |  |  | $ | 106 |
Property, plant and equipment |  | 12 |  |  | (13) |  |  | 2 |
Pension and other retiree benefits |  | (6) |  |  | 68 |  |  | (1) |
Stock-based compensation |  | (14) |  |  | 2 |  |  | (3) |
Right-of-use assets/lease liabilities |  | 2 |  |  | 1 |  |  | (5) |
Tax credits and tax loss carryforwards, net of valuation allowance |  | 37 |  |  | 29 |  |  | 8 |
Deferred withholding tax |  | (14) |  |  | 7 |  |  | 8 |
Research and Experimentation Capitalization |  | 21 |  |  | 29 |  |  | 58 |
Other, net |  | (8) |  |  | 11 |  |  | (10) |
Total deferred tax benefit (provision) |  | $ | 33 |  |  | $ | 135 |  |  | $ | 163 |
Schedule of Effective Tax Rate Reconciliation | The difference between the statutory U.S. federal income tax rate and the Company’s global effective tax rate as reflected in the Consolidated Statements of Income is as follows:
|  | 2024 |  | 2023 |  | 2022
Percentage of Income before income taxes |  |  |  |  |  |
Tax at United States statutory rate |  | 21.0 | % |  | 21.0 | % |  | 21.0 | %
State income taxes, net of federal benefit |  | 0.5 |  |  | (0.1) |  |  | 0.8 |
Earnings taxed at other than United States statutory rate |  | 4.1 |  |  | 5.4 |  |  | 5.4 |
Non-deductible goodwill impairment charges |  | — |  |  | — |  |  | 1.9 |
Foreign-derived intangible income benefit |  | (2.6) |  |  | (2.4) |  |  | (2.6) |
Foreign tax matter |  | — |  |  | 3.7 |  |  | — |
Other, net |  | (0.1) |  |  | — |  |  | (0.4) |
Effective tax rate |  | 22.9 | % |  | 27.6 | % |  | 26.1 | %
Schedule of Components of Deferred Tax Assets (Liabilities) | The components of deferred tax assets (liabilities) are as follows at December 31:
|  | 2024 |  | 2023
Deferred tax liabilities: |  |  |  |
Goodwill and intangible assets |  | $ | (389) |  |  | $ | (412) |
Property, plant and equipment |  | (397) |  |  | (420) |
Right-of-use assets |  | (126) |  |  | (126) |
Deferred withholding tax |  | (110) |  |  | (96) |
Other |  | (130) |  |  | (34) |
Total deferred tax liabilities |  | (1,152) |  |  | (1,088) |
Deferred tax assets: |  |  |  |
Pension and other retiree benefits |  | 272 |  |  | 295 |
Tax credits and tax loss carryforwards |  | 430 |  |  | 356 |
Lease liabilities |  | 137 |  |  | 134 |
Accrued liabilities |  | 223 |  |  | 221 |
Stock-based compensation |  | 61 |  |  | 75 |
Research and Experimentation Capitalization |  | 108 |  |  | 87 |
Other |  | 101 |  |  | 60 |
Total deferred tax assets |  | 1,332 |  |  | 1,228 |
Valuation Allowance |  | $ | (328) |  |  | $ | (287) |
Net deferred tax assets |  | $ | 1,004 |  |  | $ | 941 |
Net deferred income taxes |  | $ | (148) |  |  | $ | (147) |
The changes in valuation allowance for deferred tax assets are as follows:
| 2024 |  | 2023 |  | 2022
Balance, January 1 | $ | 287 |  |  | $ | 129 |  |  | $ | 120 |
Additions |  |  |  |  |
Charged to costs and expenses | 56 |  | 158 |  | 14
Deductions | 15 |  | — |  |  | 5
Balance, December 31 | $ | 328 |  |  | $ | 287 |  |  | $ | 129 |
Schedule of Unrecognized Tax Benefits Activity | Unrecognized tax benefits activity for the years ended December 31, 2024, 2023 and 2022 is summarized below:
|  | 2024 |  | 2023 |  | 2022
Unrecognized tax benefits: |  |  |  |  |  |
Balance, January 1 |  | $ | 314 |  |  | $ | 298 |  |  | $ | 245 |
Increases as a result of tax positions taken during the current year |  | 37 |  |  | 73 |  |  | 32 |
Decreases of tax positions taken during prior years |  | (53) |  |  | (61) |  |  | (21) |
Increases of tax positions taken during prior years |  | 10 |  |  | 6 |  |  | 46 |
Decreases as a result of settlements with taxing authorities and the expiration of statutes of limitations |  | (3) |  |  | (2) |  |  | (2) |
Effect of foreign currency rate movements |  | (9) |  |  | — |  |  | (2) |
Balance, December 31 |  | $ | 296 |  |  | $ | 314 |  |  | $ | 298 |

X
- Definition Disclosure of the domestic and foreign components of the provision for income + References No definition available. + Details
Name: | cl_ProvisionForIncomeTaxesTableTextBlock
Namespace Prefix: | cl_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Disclosure of the temporary differences between accounting for financial statement purposes and accounting for tax purposes that result in the current provision for taxes being higher (lower) than the total provision for income taxes. + References No definition available. + Details
Name: | cl_ScheduleofComponentsofDeferredIncomeTaxBenefitProvisionTableTextBlock
Namespace Prefix: | cl_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-2 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 231 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-231 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of income before income tax between domestic and foreign jurisdictions. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(1)(Note 1)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1 + Details
Name: | us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in unrecognized tax benefits. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 217 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-217 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15A -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-15A + Details
Name: | us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration