Financial Model - Colgate Palmolive (unso

Prepared by Dheeraj Vaidya, CFA, FRM

dheeraj@wallstreetmojo.com
Table of Contents
Income Statements
Balance Sheet
Cash Flows
Depreciation Schedule
Amortization Schedule
Working Capital Schedule
Other Long Term Schedule
Shareholder's Equity Schedule
Shares Outstanding Schedule
Debt Schedule

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molive (unsolved template)

Colgate-Palmolive Company
Income Statement (Consolidated)
($ in Million Except Per Share Amounts)
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Other (income) expense, net
EBIT
Interest expense, net
EBT
Provision for income taxes
Net income including noncontrolling interests
Less: Net income attributable to noncontrolling interests
Net income attributable to Colgate-Palmolive Company
Earnings per common share, basic
Earnings per common share, diluted
Basic Weighted Average Shares
Diluted Weighted Average Shares
EBITDA

Vertical Analysis
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Other (income) expense, net
Operating profit
Interest expense, net
Income before income taxes
Provision for income taxes
Net income including noncontrolling interests
Less: Net income attributable to noncontrolling interests (% of Net Income)
Net income attributable to Colgate-Palmolive Company
Effective Tax Rates

Horizontal Analysis
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Other (income) expense, net
Operating profit
Interest expense, net
Income before income taxes
Provision for income taxes
Net income including noncontrolling interests
Less: Net income attributable to noncontrolling interests
Net income attributable to Colgate-Palmolive Company

Segmental Information

Oral, Personal and Home Care

North America
% growth (yoy)
Latin America
% growth (yoy)
Europe/South Pacific
% growth (yoy)
Asia
% growth (yoy)
Africa/Eurasia
% growth (yoy)
Total Oral, Personal and Home Care

Pet Nutrition
% growth (yoy)
Total Net sales

Modeling Revenues and Costs

Dec-10
15,564
6,360
9,204

Dec-11
16,734
7,144
9,590

5,414
301
3,489
59

5,758
(9)
3,841
52

3,430
1,117
2,313
110
2,203
2.23
2.16

3,789
1,235
2,554
123
2,431
2.49
2.47

Dec-10

Dec-11

Dec-12

Dec-13

Dec-14

Dec-15

Dec-12

Dec-13

Dec-14

Dec-15

Dec-10

Dec-11

Dec-12

Dec-13

Dec-14

Dec-15

Dec-10

Dec-11

Dec-12

Dec-13

Dec-14

Dec-15

Dec-16

Dec-17

Dec-18

Dec-16

Dec-17

Dec-18

Dec-16

Dec-17

Dec-18

Dec-16

Dec-17

Dec-18

Colgate-Palmolive Company
Consolidated Balance Sheets
Assets
Current Assets
Cash and cash equivalents
Receivables
Inventories
Other current assets
Total current assets
Property, plant and equipment, net
Total assets
Liabilities and Shareholders' Equity
Current Liabilities
Total current liabilities

Dec-10

Dec-11

490
1,610
1,222
408
3,730

878
1,675
1,327
522
4,402

3,693
11,172

3,668
12,724

3,728

3,716

2,815
108
1,704
8,355
-

4,430
252
1,785
10,183
-

2,675
142
2,817

2,375
166
2,541

11,172

12,724

Revolver
Long-term debt
Deferred income taxes
Other liabilities
Total liabilities
Commitments and contingent liabilities
Shareholders' Equity
Total Colgate-Palmolive Company
shareholders' equity
Noncontrolling interests
Total shareholders' equity
Total liabilities and shareholders'
equity

Check

Dec-12

Dec-13

Dec-14

Dec-15

Dec-16

Dec-17

Dec-18

Colgate-Palmolive Company
Consolidated Cash Flows
###
Operating Activities
Net income including noncontrolling interests
Adjustments to reconcile net income
Depreciation and amortization
Receivables
Inventories
Accounts payable and other accruals
Other non-current assets and liabilities
Net cash provided by operations

Dec-08

Dec-09

Dec-10
$

Investing Activities
Capital expenditures
Net cash used in investing activities
Cash Flow for Financing Activities
Financing Activities
Principal payments on debt
Proceeds from issuance of debt
Revolver
Dividends paid
Purchases of treasury shares
Proceeds from exercise of stock options and excess tax benefits
Net cash used in financing activities
Effect of exchange rate changes on Cash and cash equivalents
Net increase (decrease) in Cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year

2,313

Dec-11
$

Dec-12

Dec-13

2,554

376
40
(10)
(65)
135
3,211

421
(130)
(130)
199
54
2,896

(550)
(658)

(537)
(1,213)

2,553

1,683

(4,719)
5,015

(4,429)
5,843

(1,142)
(2,020)
242
(2,624)

(1,203)
(1,806)
353
(1,242)

(39)

(53)

(110)

388

600
490 $

490
878

Supplemental Cash Flow Information

Income taxes paid
Interest paid

1,123 $
70

1,007 $
58

1,280 $
77

1,087
118

Dec-14

Dec-15

Dec-16

Dec-17

Dec-18

Colgate-Palmolive Company
Consolidated Depreciation and Capex
Dec-07
Net Sales
Capital Expenditures
Capital Expenditures as % of Net Sales
Beginning Net PP&E
Capital Expenditures
(Depreciation Expense)
Ending Net PP&E

Total Depreciation Expense

Dec-08

Dec-09

Dec-10

Dec-11

Dec-12

Dec-13

Dec-14

Dec-15

Dec-16

Dec-17

Dec-18

Colgate-Palmolive Company
Consolidated Amortization & Intangible
Dec-07
Net Sales
Additions to Intangibles
Additions to Intangibles as % of Net Sales
Beginning Net Intangibles
Additions to Intangibles
(Amortization Expense)
(Intangible Sales and write offs)
Ending Net Intangibles

Dec-08

Dec-09

Dec-10

Dec-11

Dec-12

Dec-13

Dec-14

Dec-15

Dec-16

Dec-17

Dec-18

Colgate-Palmolive Company
Consolidated Working Capital
Dec-09
Net Sales
Cost of Sales
Working Capital Balances
Receivables
Inventories
Other current assets
Total Non Cash Current Assets
Accounts payable
Accrued income taxes
Other accruals
Total Non-Debt Current Liabilities
Net Working Capital/ (Deficit)
(Increase)/ Decrease in Working Capital
Purchases
Ratios & Assumptions
Accounts Receivable, net (Collection period in days)
Inventory (Days outstanding)
Other Current Assets (% of Net Sales)
Accounts Payable (Days Payable)
Accrued Income Taxes (% of COGS)
Other accruals (% of COGS)
Cash Flow from Individual line items
Receivables (net of allowances of $49, $53, $52, $47 and $51 respectively)
Inventories
Other current assets
Accounts payable
Accrued income taxes
Other accruals
(Incease)/ Decrease in Working Capital
Check

Dec-10

Dec-11

Dec-12

Dec-13

Dec-14

Dec-15

Dec-16

Dec-17

Dec-18

Number of

365

Colgate-Palmolive Company
Other Long Term Asset Liability Schedule
Dec-10
Assets
Deferred income taxes
Other assets
Liability
Deferred income taxes
Other liabilities

Dec-11

Dec-12

Dec-13

Dec-14

Dec-15

Dec-16

Dec-17

Dec-18

Colgate-Palmolive Company
Consolidated Shareholder's Equity
Dec-10
Beginning Equity Balance
Net Income
Issuance/ (Repurchase) of Equity
Dividends Paid
Option Proceeds
Ending Equity Balance
Share Repurchase Assumptions
Current Year EPS
Assumed Current Year EPS Multiple
Implied Share Price
Shares Repurchased - millions
Amount Repurchased ( $ outgo)
New Shares from Exercised Options
New Shares from Exercised Options - millions
Average Strike Price
Option Proceeds
Restricted Stock Units (RSUs)
Dividend Assumptions
Total Dividends Paid
Net Income
Dividend Payout Ratio

Dec-11

Shares and ESOPs

Balance, January 1, 2011

Common stock acquired
Shares issued for stock options
Shares issued for restricted stock units and other
Balance, December 31, 2011
Common stock acquired
Shares issued for stock options
Shares issued for restricted stock units and other
Balance, December 31, 2012
Common stock acquired
Shares issued for stock options
Shares issued for restricted stock units and other
Balance, December 31, 2013

Dec-12

Dec-13

Dec-14

Dec-15

Dec-16

Dec-17

Dec-18

Colgate-Palmolive Company
Consolidated Shares Outstanding
Dec-10
Beginning Balance - Basic (actual)
Shares Issued (actual realization of options)
Shares Repurchased
Ending Balance - Basic (actual)
Basic Weighted Average Shares
Effects of Options & Restricted Stock Units
Diluted Weighted Average Shares

Dec-11

Dec-12

Dec-13

Dec-14

Dec-15

Dec-16

Dec-17

Dec-18

Colgate-Palmolive Company
Debt Schedule
Dec-10
Cash Flow Available for Financing Activities
Proceeds from/ (Repurchase of) Equity
Dividends
Option Proceeds
+ Beginning Cash Balance
- Minimum Cash Balance
Cash Available for Debt Repayment
Long Term Debt Issuance
Long Term Debt (Repayments)
Cash Available for Revolving Credit Facility
Revolving Credit Facility
Beginning Balance
Discretionary (Paydown)/ Borrowings
Ending Balance
Long Term Debt
Beginning Balance
Issuance
(Repayment/ Amortization)
Ending Balance
Long Term Debt
Current Portion of Long Term Debt

Revolving Credit Facility

Average Balance
Interest Rate
Interest Expense

Long Term Debt

Average Balance
Interest Rate
Interest Expense

Total Interest Expense

Dec-11

Dec-12

Cash Balances

Average Balance
Interest Rate
Interest Income

Dec-13

Dec-14

Dec-15

Dec-16

Dec-17

Dec-18