Regulatory Filings • Jun 15, 2017
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 11-K
ANNUAL REPORT
PURSUANT TO SECTION 15 (d) OF THE
SECURITIES EXCHANGE ACT OF 1934
(Mark One)
x ANNUAL REPORT PURSUANT TO SECTION 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 2016
OR
o TRANSITION REPORT PURSUANT TO SECTION 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from _ to _.
Commission file number: 1-644
A. Full title of the plan and the address of the plan, if different from that of the issuer named below:
COLGATE-PALMOLIVE COMPANY EMPLOYEES SAVINGS AND INVESTMENT PLAN
B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:
COLGATE-PALMOLIVE COMPANY
300 PARK AVENUE, NEW YORK, NY 10022
COLGATE-PALMOLIVE COMPANY
EMPLOYEES SAVINGS AND INVESTMENT PLAN
Index to Financial Statements
| Page | |
|---|---|
| Report of Independent Registered Public Accounting Firm | 3 |
| Financial Statements: | |
| Statements of Net Assets Available for Benefits as of December 31, 2016 and 2015 | 4 |
| Statement of Changes in Net Assets Available for Benefits for the year ended December 31, 2016 | 5 |
| Notes to Financial Statements | 6 |
| Signatures | 17 |
| Supplemental Schedule: | |
| Schedule of Assets (held at end of year) | Schedule H |
All other schedules were omitted as they are not applicable or not required based on the disclosure requirements of the Employee Retirement Income Security Act of 1974, as amended and applicable regulations issued by the Department of Labor.
Exhibit:
23.1 Consent of Grant Thornton LLP
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the Employee Relations Committee of the
Colgate-Palmolive Company Employees Savings and Investment Plan
We have audited the accompanying statements of net assets available for benefits of Colgate-Palmolive Company Employees Savings and Investment Plan (the “Plan”) as of December 31, 2016 and 2015, and the related statement of changes in net assets available for benefits for the year ended December 31, 2016. These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on these financial statements based on our audits.
We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. We were not engaged to perform an audit of the Plan’s internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Plan’s internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for benefits of Colgate-Palmolive Company Employees Savings and Investment Plan as of December 31, 2016 and 2015, and the changes in net assets available for benefits for the year ended December 31, 2016 in conformity with accounting principles generally accepted in the United States of America.
The supplemental information in the accompanying schedule of assets (held at end of year) as of December 31, 2016 has been subjected to audit procedures performed in conjunction with the audit of Colgate-Palmolive Company Employees Savings and Investment Plan’s financial statements. The supplemental information is presented for purposes of additional analysis and is not a required part of the basic financial statements, but includes supplemental information required by the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. The supplementary information is the responsibility of the Plan’s management. Our audit procedures included determining whether the supplemental information reconciles to the basic financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental information. In forming our opinion on the supplemental information in the accompanying schedule, we evaluated whether the supplemental information, including its form and content, is presented in conformity with the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental information referred to above is fairly stated, in all material respects, in relation to the basic financial statements taken as a whole.
/s/ GRANT THORNTON LLP
New York, New York
June 15, 2017
3
COLGATE-PALMOLIVE COMPANY
EMPLOYEES SAVINGS AND INVESTMENT PLAN
Statements of Net Assets Available for Benefits
As of December 31, 2016 and 2015
(Dollars in thousands)
| 2016 | 2015 | |
|---|---|---|
| Assets | ||
| Cash | $ 1,843 | $ 1,569 |
| Investments at fair value | 2,876,581 | 2,977,366 |
| Investments at contract value | 182,182 | 168,020 |
| Receivables: | ||
| Employer contributions receivable | 76 | 75 |
| Participant contributions receivable | 136 | 136 |
| Due from brokers for securities sold | 872 | — |
| Dividends and interest receivable | 479 | — |
| Notes receivable from participants | 14,863 | 15,788 |
| Total receivables | 16,426 | 15,999 |
| Total assets | 3,077,032 | 3,162,954 |
| Liabilities | ||
| Due to brokers for securities purchased | 1,064 | 5,151 |
| Long-term note payable to Colgate-Palmolive Company | 7,750 | 12,690 |
| Accrued interest on note payable | 251 | 67 |
| Total liabilities | 9,065 | 17,908 |
| Net assets available for benefits | $ 3,067,967 | $ 3,145,046 |
The accompanying notes are an integral part of these financial statements.
4
COLGATE-PALMOLIVE COMPANY
EMPLOYEES SAVINGS AND INVESTMENT PLAN
Statement of Changes in Net Assets Available for Benefits
For the Year Ended December 31, 2016
(Dollars in thousands)
| Additions | ||
|---|---|---|
| Net investment income: | ||
| Interest | $ 4,913 | |
| Dividends | 56,353 | |
| Appreciation in the fair value of investments, net | 56,694 | |
| Net investment income (loss) | 117,960 | |
| Contributions: | ||
| Employer contributions | 20,990 | |
| Participant contributions | 50,370 | |
| Total contributions | 71,360 | |
| Interest income on notes receivable from participants | 512 | |
| Total additions | 189,832 | |
| Deductions | ||
| Administrative expenses | (3,477 | ) |
| Distributions to participants | (262,942 | ) |
| Interest expense on note payable | (492 | ) |
| Total deductions | (266,911 | ) |
| Decrease in net assets available for benefits | (77,079 | ) |
| Net assets available for benefits – beginning of year | 3,145,046 | |
| Net assets available for benefits – end of year | $ 3,067,967 |
The accompanying notes are an integral part of these financial statements.
5
COLGATE-PALMOLIVE COMPANY
EMPLOYEES SAVINGS AND INVESTMENT PLAN
Notes to Financial Statements
(Dollars in thousands, except as indicated)
1. Description of the Plan
The Colgate-Palmolive Company Employees Savings and Investment Plan (the “Plan”) is a defined contribution plan sponsored by Colgate-Palmolive Company (the “Company”). The Plan is subject to the reporting and disclosure requirements, participation and vesting standards, and fiduciary responsibility provisions of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”). The Plan is also an employee stock ownership plan (“ESOP”). State Street Global Advisors (the “ESOP Trustee”), a division of State Street Bank & Trust Company, is the trustee of Funds D and E (the “ESOP Shares Trust”). The Bank of New York Mellon is the trustee of the remaining funds and the custodian of the Plan. Transamerica Retirement Solutions LLC is the recordkeeper of the Plan.
The Plan offers programs which include an employer match, a success sharing program, a retirement contribution program, a bonus savings account program, an income savings account program and a retiree insurance program. The provisions below, applicable to the Plan participants, provide only general information. Participants should refer to the Plan document for a more complete description of the Plan’s provisions.
Employees eligible to participate in the Plan must meet certain minimum hourly service requirements and be at least 18 years old. Employees are eligible upon hire to participate in the Plan.
As of December 31, 2016, the Plan maintained the following funds:
| Name of Fund | Description of the type of investment |
|---|---|
| Short Term Fixed Income Fund | Guaranteed investment contracts and cash reserve funds |
| Colgate Common Stock Fund (Fund B) | Colgate-Palmolive Company Common Stock and cash reserve funds |
| Colgate Employer Common Stock Fund (Fund D) | Colgate-Palmolive Company Common Stock (the ESOP Shares Trust) |
| Colgate Common Stock Fund (Fund E) | Colgate-Palmolive Company Common Stock (the ESOP Shares Trust) |
| Vanguard Wellington Fund | Equity and fixed income securities where common stocks represent 60% to 70% of the fund’s total assets |
| Vanguard Institutional Index Fund (Admiral shares) | Equity securities included in the S&P 500 Index in proportion to their weighting in the index |
| American Funds EuroPacific Growth Fund | Primarily invests in stocks of companies in Europe and the Pacific Basin |
| Baird Core Plus Bond Fund | Primarily invests its assets in a diversified portfolio of U.S. government, corporate, mortgage and asset-backed securities |
| Neuberger Berman Genesis Fund | Primarily invests in stocks of companies with total market value of less than $2 billion at the time of the initial investment |
| Vanguard Extended Market Index | Invests in approximately 3,000 small and mid-cap stocks which account for about one-fourth of the market cap of the U.S. stock market |
| T. Rowe Price Growth Stock Strategy | Primarily invests its assets in the common stock of a diversified group of growth companies |
| Brandywine Classic Large Cap Value Fund | Primarily invests in dividend paying value stocks of large-cap companies |
| BlackRock LifePath Funds | Funds whose investment mix across a range of asset classes becomes more conservative as the target or maturity date approaches |
6
COLGATE-PALMOLIVE COMPANY
EMPLOYEES SAVINGS AND INVESTMENT PLAN
Notes to Financial Statements (continued)
(Dollars in thousands, except as indicated)
Employee Stock Ownership Plan
In 1989, the Company expanded its Employee Stock Ownership Plan (“ESOP”) through the introduction of a leveraged ESOP that funds certain benefits for employees who have met eligibility requirements.
During 2000, the ESOP entered into a loan agreement with the Company under which the benefits for the ESOP may be extended through December 2035. Repayments of principal and interest are funded through future contributions and dividends on stock held by ESOP Fund D, both paid by the Company to the ESOP. In addition, the Company guaranteed minimum funding of $130,000, on a present value basis, in excess of debt service requirements.
As of December 31, 2016 and 2015, the ESOP had outstanding loans from the Company of $7,750 and $12,690 , respectively, bearing an average interest rate of 5.7% per year. The fair value of the outstanding notes payable to the Company was estimated at approximately $12 million and $19 million as of December 31, 2016 and 2015, respectively based on current interest rates for debt with similar maturities (Level 2 valuation). During 2016, the Company did not make any contributions to the ESOP.
Dividends on stock held by ESOP Fund D are paid to the ESOP and, together with cash contributions from the Company, are (a) used by the ESOP to repay principal and interest on the long-term notes, (b) credited to participant accounts, or (c) used to fund basic and additional basic retirement contributions.
A portion of the ESOP Fund D shares are released periodically for allocation to participants based on the ratio of debt service for the period to total debt service over the remaining scheduled life of all ESOP debt. As of December 31, 2016, 16,409,918 common shares (valued at $1,073,865) were released for allocation to participant accounts and the balance of 4,672,244 common shares (valued at $305,752) were available for future allocation to participant accounts. As of December 31, 2015, 17,690,600 common shares (valued at $1,178,548) were released for allocation to participant accounts and the balance of 5,945,584 common shares (valued at $396,095) were available for future allocation to participant accounts. The ESOP released shares are allocated to fund the employer portion of the various Plan programs described below.
Savings Program
Participant Contributions
Under the Savings Program, employees generally can contribute to the Plan between 1% and 25% of their recognized earnings (the greater of total compensation paid during the previous calendar year minus items such as reimbursement of moving expenses and special awards, or regular salary as of the most recent January 1, plus commissions and bonuses paid in the prior year). Employees who are not “highly compensated”, as defined by the Internal Revenue Code (“IRC”), may contribute any combination up to 25% of their recognized earnings on either a before-tax (subject to certain IRC limitations) or after-tax basis. Employees who are highly compensated may contribute as follows: those employees whose 2016 recognized earnings were less than $149.9 were limited to 16% of their recognized earnings, those employees whose 2016 recognized earnings were between $150.0 and $264.9 were limited to 12% of their recognized earnings and those employees whose 2016 recognized earnings equaled or exceeded $265.0 were limited to 8% of their recognized earnings. Participants may generally begin, suspend or resume contributions, change their contribution rate and the allocation of their contributions between before-tax and after-tax earnings on a daily basis. Plan participants are always fully vested in their contributions and related investment earnings. Under the IRC, the maximum allowable pre-tax contribution for participants was $18.0 for 2016. Participants who are expected to reach or are over the age of 50 during the Plan year and have made the maximum before-tax contribution are eligible to make additional catch-up contributions. Under the IRC, the maximum allowable catch-up contribution was $6.0 for 2016 on a pre-tax basis.
Employees may direct the investment of participant contributions to any of the Plan’s investment funds, other than Funds D and E, and may change how these contributions will be invested when allocated on a daily basis. Participants may, on a daily basis, diversify / transfer their participant account balances among any of the investment funds in the Plan, although participants cannot make transfers into Funds D and E.
7
COLGATE-PALMOLIVE COMPANY
EMPLOYEES SAVINGS AND INVESTMENT PLAN
Notes to Financial Statements (continued)
(Dollars in thousands, except as indicated)
Company Matching Contributions
The Company and wholly-owned subsidiaries to which the Plan has been extended, make matching contributions of 50% to 75% of employee contributions up to 6% of recognized earnings, depending on years of service and collective bargaining agreements. Company matching contributions are invested in the same manner as employee elections for investment of their participant contributions. Contributions made are diversifiable, on a daily basis, immediately upon allocation, among any of the investment funds in the Plan, although participants cannot make transfers into Funds D and E. Participants are 50% vested in their Company matching contribution accounts after two years of service and fully vested after three years of service or, if while active, they reach age 55, become permanently disabled, die, or in the event of Plan termination.
Incoming Rollovers
The Plan permits incoming rollovers of before-tax money from Section 403(b) plans and governmental Section 457 plans, as well as both before-tax and after-tax money from other companies’ qualified plans. Participants may direct the investment of an incoming rollover to any of the Plan’s investment funds, other than Funds D and E. Participants may, on a daily basis, diversify / transfer their rollover balances among any of the investment funds in the Plan, although participants cannot make transfers into Funds D and E.
Company Retirement Contributions Program
All eligible employees generally receive Basic Retirement Contributions (“BRCs”) and Additional Basic Retirement Contributions (“ABRCs”) equal to 4% up to 15% of recognized earnings depending on years of service and prior eligibility status in the Company’s Employees’ Retirement Income Plan. Employees of Hill’s Pet Nutrition, Inc. who are covered by a collective bargaining agreement are not eligible for these Company retirement contributions.
Participating employees may direct the investment of Company retirement contributions to be allocated among any of the Plan’s investment funds, other than Fund E. These Company retirement contributions are diversifiable, on a daily basis, immediately upon allocation, among any of the investment funds in the Plan, although participants cannot make transfers into Fund D or E. Participants are 50% vested in their account after two years of service and fully vested after three years of service, or if while active, they reach age 55, become permanently disabled, die, or in the event of Plan termination.
Success Sharing Program
The Success Sharing Program is designed to enable the Company to share its financial success with employees. Under the Success Sharing Program, a Success Sharing Account (“SSA”) has been established within the Plan for each eligible employee. As the Company meets or exceeds annual financial targets, shares of common stock are allocated to employee accounts according to a pre-determined formula. This program is generally available to all employees in the United States who are participants in the Plan and are on the payroll from at least June 30 through the last day of the year. If the individual is eligible but was not employed for the entire year, the allocation will be prorated. Employees are at all times fully vested in the value of their SSA. Any allocation is initially credited to Fund D. Participants may, on a daily basis, immediately upon allocation, diversify their SSA among any of the Plan’s investment funds, although participants cannot make transfers into Funds D and E.
8
COLGATE-PALMOLIVE COMPANY
EMPLOYEES SAVINGS AND INVESTMENT PLAN
Notes to Financial Statements (continued)
(Dollars in thousands, except as indicated)
Bonus Savings Account Program
The Bonus Savings Account (“BSA”) Program is designed to enable each eligible employee to receive an allocation representing all or a portion of his/her bonus in common stock. Under this program, a BSA allocation is credited to each eligible employee’s BSA established within the Plan. The portion of an employee’s bonus that can be allocated within the BSA program is determined based on the bonus amount earned, the total number of shares of common stock available for allocation, and other factors such as an employee’s income level and Internal Revenue Service (“IRS”) rules. This program is generally available to all employees in the United States who are participants in the Plan. However, due to IRS restrictions, employees who have not been a participant in the Plan for at least two years are unable to participate in the program, and employees with fewer than five years of service may be ineligible to receive a BSA allocation with respect to certain bonus periods. Employees are at all times fully vested in the value of their BSA and may elect to withdraw the balance of this account from the Plan immediately or at a later date. Any allocation is initially credited to Fund D. BSA balances are diversifiable, on a daily basis, immediately upon allocation, among any of the investment funds in the Plan, although participants cannot make transfers into Funds D and E.
Income Savings Account Program
The Income Savings Account (“ISA”) Program is designed to enable each eligible employee to receive an allocation representing a portion of his/her income in the form of common stock. Under this program, an ISA allocation of common stock is made each year to each eligible employee’s ISA. This program is generally available to all employees in the United States who are participants in the Plan, and who have at least five years of service as of July 2nd of the current year. Employees are at all times fully vested in the value of their ISA and may elect to withdraw the balance of this account from the Plan immediately or at a later date. Any allocation is initially credited to Fund D. ISA balances are diversifiable, on a daily basis, immediately upon allocation, among any of the investment funds in the Plan, although participants cannot make transfers into Funds D and E.
Retiree Insurance Program
The Retiree Insurance Program was designed to provide funds that could be used by employees to purchase health and life insurance upon retirement. Under the Retiree Insurance Program, a Retiree Insurance Account (“RIA”) was established within the Plan for each eligible employee. Prior to September 1, 2010, shares from the Colgate Employer Common Stock Fund were allocated to each eligible employee’s RIA. Effective September 1, 2010, the Company only makes allocations into an RIA for employees who are members of one of the Hill’s Pet Nutrition, Inc. participating unions. Allocations are based upon the schedule that was in place as of the Plan year 2009. Participants are 50% vested in their RIA after two years of service and fully vested after three years of service, or if while active, reach age 55, become permanently disabled, die, or in the event of Plan termination. RIA allocations are made in the form of common stock to Fund D and are diversifiable, on a daily basis, immediately upon allocation, among any of the investment funds in the Plan, although participants cannot make transfers into Funds D and E. Employees are entitled to the value of the vested amount of their RIA upon resignation, termination or retirement.
Participant Accounts
Each participant account may be credited with the types of allocations described above as well as allocations of fund earnings or losses, and expenses. Depending on fund elections, certain participant investment accounts are also charged with monthly investment service fees. The benefit to which a participant is entitled is the benefit that can be provided from the participant’s vested account.
Distributions
Participating employees can receive a distribution from the Plan due to retirement, permanent disability, termination or death. Unvested balances will be forfeited in the event of termination. In service withdrawals are available as specified by the Plan.
9
COLGATE-PALMOLIVE COMPANY
EMPLOYEES SAVINGS AND INVESTMENT PLAN
Notes to Financial Statements (continued)
(Dollars in thousands, except as indicated)
Forfeitures
After the earlier of the distribution of the terminated participant’s vested account balances or the fifth anniversary of the participant’s termination, nonvested account balances become available to the Company to reduce future Company contributions and/or to pay for administrative expenses incurred by the Plan. The forfeiture balance as of December 31, 2016 and 2015 totaled $73 and $115, respectively. During 2016, the Company used $495 of forfeitures to reduce Company contributions.
Notes Receivable From Participants
Participants who have $1 or more in the Plan may borrow from the total of their fund accounts a minimum of $0.5 up to a maximum equal to the lesser of $50 (subject to certain offsets for prior loans) or 50% of their vested balance, subject to certain exclusions. Participants are allowed to have one ordinary loan and one loan related to the purchase of a principal residence outstanding at any time. The loans are secured by the balance in the participant’s account and bear a fixed rate of interest equal to the prime rate as listed in The Wall Street Journal on the first business day of the month in which the loan was requested. Principal and interest are paid ratably via payroll deductions. Loan terms range from 1 to 15 years. Loans outstanding at December 31, 2016 had interest rates ranging from 3.3% to 8.3% and maturities through 2031. Loans outstanding at December 31, 2015 had interest rates ranging from 3.3% to 9.5% and maturities through 2030.
Plan Termination
Although the Company has not expressed any intent to do so, the Company has the right under the Plan to discontinue its contributions at any time and to terminate the Plan at any time subject to the provisions of ERISA. In the event of termination of the Plan, the Employee Relations Committee of the Company (the “Committee”) shall compute and distribute the value of the accounts of the participants.
2. Summary of Significant Accounting Policies
Basis of Accounting
The financial statements of the Plan are prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”).
Use of Estimates
The preparation of financial statements in conformity with U.S. GAAP requires the Plan administrator to make estimates and assumptions that affect the reported amounts of assets, liabilities, and changes therein, and disclosure of contingent assets and liabilities. Actual results could differ from those estimates.
Notes Receivable from Participants
Participant loans are stated at cost plus accrued interest. Interest income is recorded on an accrual basis. No allowances for credit losses has been recorded as of December 31, 2016 and 2015. Delinquent loans are reclassified as distributions to participants based upon the terms defined in the Plan document.
Investment Valuation and Income Recognition
The Plan’s investments, other than investments in common/collective trust funds and guaranteed investment contracts (“GICs”), are stated at fair value based on quoted market prices or as otherwise determined by Bank of New York Mellon, the Plan’s trustee.
10
COLGATE-PALMOLIVE COMPANY
EMPLOYEES SAVINGS AND INVESTMENT PLAN
Notes to Financial Statements (continued)
(Dollars in thousands, except as indicated)
The Plan is invested in common/collective trust funds which are stated at fair value using the net asset value (“NAV”) per unit in each fund. The NAV is based on the fair value of the underlying investments owned by each trust, minus its liabilities, divided by the number of shares outstanding. The liabilities, which are primarily investment management fees due, are included in Due to brokers for securities purchased in the Statements of Net Assets Available for Benefits. The common/collective trust funds are primarily comprised of a mix of equity and fixed income funds.
The Plan has entered into fully benefit-responsive GICs with insurance companies, banks and other financial institutions. The GICs represent investments that have fixed income securities paired with benefit-responsive wrap contracts. Wrap contracts are issued by high-quality financial institutions with primarily the following objectives: to provide a fixed rate of interest for a specified period of time and to enable the fund to pay participant-initiated withdrawals at book value.
As more fully discussed below, GICs are accounted for at contract value.
In certain circumstances, the amount withdrawn from the GICs would be payable at fair value rather than at contract value. These events include termination of the Plan, a material adverse change to the provisions of the Plan, if the employer elects to withdraw from a contract in order to switch to a different investment provider, or if the terms of a successor plan (in the event of the spin-off or sale of a division) do not meet the contract issuer’s underwriting criteria for issuance of a similar contract. Such circumstances, resulting in the payment of benefits at market value rather than contract value, are not considered probable of occurring in the foreseeable future.
Examples of events that would permit a contract issuer to terminate a contract upon short notice include the Plan’s loss of its qualified status, uncorrected material breaches of responsibilities, or material and adverse changes to the provisions of the Plan. If one of these events was to occur, the contract issuer could terminate the contract at the fair value of the underlying investments (or in the case of traditional GICs, at the hypothetical fair value based upon a contractual formula).
Purchases and sales are recorded on a trade-date basis. Net appreciation or depreciation in fair value of investments includes the Plan’s gains and losses on investments bought and sold as well as held during the year. Dividend income is recorded on the ex-dividend date.
Benefit Payments Recognition
Benefits paid directly to participants are recorded when paid.
Administration
The Plan is administered by the Committee for the benefit of the participants. Administrative expenses are paid by the Plan.
Recent Accounting Pronouncements
In July 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2015-12, “Plan Accounting: Defined Benefit Pension Plans (Topic 960), Defined Contribution Pension Plans (Topic 962), Health and Welfare Benefit Plans (Topic 965): (Part I) Fully Benefit-Responsive Investment Contracts, (Part II) Plan Investment Disclosures, (Part III) Measurement Date Practical Expedient”, (“ASU 2015-12”). Part I eliminates the requirements to measure the fair value of fully benefit-responsive investment contracts but continues to provide certain disclosures that help users understand the nature and risks of fully benefit-responsive investment contracts. Upon adoption, contract value is the only required measure for fully benefit-responsive investment contracts. Part II eliminates the requirements to disclose individual investments that represent 5% or more of net assets available for benefits and the net appreciation or depreciation in fair value of investments by general type. Part II also simplifies the level of disaggregation of investments that are measured using fair value. Plans continue to disaggregate investments that are measured using fair value by general type; however, plans are no longer required to disaggregate investments by nature, characteristics and risks.
11
COLGATE-PALMOLIVE COMPANY
EMPLOYEES SAVINGS AND INVESTMENT PLAN
Notes to Financial Statements (continued)
(Dollars in thousands, except as indicated)
Further, the disclosure of information about fair value measurements is provided by general type of plan asset. Part III provides a practical expedient to permit plans to measure investments and investment-related accounts as of a month-end date that is closest to the plan’s fiscal year-end, when the fiscal period does not coincide with month-end. ASU 2015-12 was effective for the Plan beginning January 1, 2016 and as required, was adopted retrospectively. As a result, (i) fully benefit responsive investment contracts are stated at contract value; and (ii) for individual investments that represent 5% or more of net assets available for benefits, the net appreciation or depreciation of investments by general type, as well as the disaggregation of investments by nature, characteristics and risks in the fair value table, have been eliminated. Part III is not applicable to the Plan’s financial statements.
In May 2015, the FASB issued ASU 2015-07, “Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or its equivalent)”, (“ASU 2015-07”). ASU 2015-07 removes the requirement to categorize within the fair value hierarchy investments for which fair value is measured using the net asset value per share practical expedient. In addition, the update limits disclosures to investments for which the entity elected to measure the fair value using the practical expedient rather than all eligible investments. ASU 2015-07 was effective for the Plan on January 1, 2016 and as required, was adopted retrospectively. The Plan’s financial statements disclosures have been revised to reflect this adoption.
Reclassifications
Certain prior year amounts have been reclassified to conform to the current year presentation.
The Company has obtained a favorable determination from the IRS in a letter dated May 2, 2014 regarding the Plan’s qualified status. The Plan has been amended since the amendments considered under the determination letter. However, the Committee and the Plan’s tax counsel believe that the Plan is designed and is currently being operated in compliance with the applicable requirements of the IRC. On January 29, 2016, the Company submitted to the IRS an application for a new determination letter.
U.S. GAAP requires the plan administrator to evaluate tax positions taken by the Plan and recognize a tax liability if the plan has taken an uncertain position that more likely than not would not be sustained upon examination by the Internal Revenue Service. The plan administrator has analyzed the tax positions taken by the Plan, and has concluded that as of December 31, 2016 and 2015, there are no uncertain positions taken or expected to be taken that would require recognition of a liability or disclosure in the financial statements. The Plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress.
12
COLGATE-PALMOLIVE COMPANY
EMPLOYEES SAVINGS AND INVESTMENT PLAN
Notes to Financial Statements (continued)
(Dollars in thousands, except as indicated)
4. Investments and Fair Value Measurements
Investments
As of December 31, 2016 and 2015, the Plan had investments in Colgate-Palmolive Company Common Stock, mutual funds, cash reserve funds, GICs and common/collective trust funds.
The GICs carry a crediting interest rate established at inception and reset periodically (typically monthly) to approximate the interest earnings of the underlying investments, subject to certain minimums.
Fair Value Measurements
The Plan uses available market information and other valuation methodologies in assessing the fair value of financial instruments. Judgment is required in interpreting market data to develop the estimates of fair value and, accordingly, changes in assumptions or the estimation methodologies may affect the fair value estimates.
Assets and liabilities carried at fair value are classified as follows:
Level 1: Based upon quoted market prices in active markets for identical assets or liabilities.
Level 2: Based upon observable market-based inputs or unobservable inputs that are corroborated by market data.
Level 3: Based upon unobservable inputs reflecting the reporting entity’s own assumptions.
The fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques used maximize the use of observable inputs and minimize the use of unobservable inputs.
The valuation methodologies used for Plan assets are as follows:
Colgate-Palmolive Company Common Stock: Valued at the closing price reported on the active market on which the individual securities are traded.
Mutual funds: Valued at the NAV of units held by the Plan at year end based upon quoted market prices. The investments provide daily redemptions by the Plan with no advance notice requirements, and have redemption prices that are determined by the fund’s NAV per unit as of the redemption date.
Cash reserve funds: Valued at cost plus accrued interest, which approximates fair value. The funds have no restrictions from redemption .
Separately managed account fund: Valued based on the fair values of the underlying securities, which are valued using quoted prices on the active market on which the individual securities are traded.
Common/Collective trust funds: Valued using the NAV per unit in each fund. The NAV is based on the value of the underlying investments owned by each trust, minus its liabilities, divided by the number of shares outstanding. The investments provide daily redemptions by the Plan with no advance notice requirements, and have redemption prices that are determined by the fund’s NAV per unit as of the redemption date.
13
COLGATE-PALMOLIVE COMPANY
EMPLOYEES SAVINGS AND INVESTMENT PLAN
Notes to Financial Statements (continued)
(Dollars in thousands, except as indicated)
The following table presents the Plan’s fair value hierarchy for those investments measured at fair value at December 31, 2016:
| Level 1 | Total | |
|---|---|---|
| Colgate-Palmolive Company Common Stock | $ 1,733,505 | $ 1,733,505 |
| Mutual funds | 723,658 | 723,658 |
| Cash reserve funds | 33,099 | 33,099 |
| Separately managed account fund | 134,610 | 134,610 |
| Investments in the Fair Value Hierarchy | 2,624,872 | 2,624,872 |
| Investments Measured at Net Asset Value (1) | — | 251,709 |
| Total Investments at Fair Value | $ 2,624,872 | $ 2,876,581 |
(1) Consists of Common/Collective trust funds.
The following table presents the Plan’s fair value hierarchy for those investments measured at fair value at December 31, 2015:
| Level 1 | Total | |
|---|---|---|
| Colgate-Palmolive Company Common Stock | $ 1,920,827 | $ 1,920,827 |
| Mutual funds | 666,420 | 666,420 |
| Cash reserve funds | 38,593 | 38,593 |
| Separately managed account fund | 24,107 | 24,107 |
| Investments in the Fair Value Hierarchy | 2,649,947 | 2,649,947 |
| Investments Measured at Net Asset Value (1) | — | 327,419 |
| Total Investments at Fair Value | $ 2,649,947 | $ 2,977,366 |
(1) Consists of Common/Collective trust funds.
14
COLGATE-PALMOLIVE COMPANY
EMPLOYEES SAVINGS AND INVESTMENT PLAN
Notes to Financial Statements (continued)
(Dollars in thousands, except as indicated)
Information about the net assets and significant components of the changes in net assets relating to the investments maintained in Funds D and E is as follows:
| December 31, — 2016 | 2015 | |
|---|---|---|
| Assets: | ||
| Cash | $ 1,842 | $ 1,566 |
| Fixed income liquid reserve fund | 860 | 755 |
| Colgate-Palmolive Company Common Stock | 1,406,066 | 1,603,262 |
| Interest receivable | 1 | — |
| Total assets | 1,408,769 | 1,605,583 |
| Liabilities: | ||
| Long-term note payable to Colgate-Palmolive Company | 7,750 | 12,690 |
| Accrued interest on long-term note | 251 | 67 |
| Total liabilities | 8,001 | 12,757 |
| Net assets available for benefits | $ 1,400,768 | $ 1,592,826 |
| Year Ended December 31, 2016 | ||
|---|---|---|
| Changes in net assets available for benefits: | ||
| Employer contributions | $ — | |
| Dividends and interest, net of fees | 32,388 | |
| Net appreciation (depreciation) in the fair value of investments | (15,480 | ) |
| Transfers to other funds | (82,684 | ) |
| Interest expense on long-term note | (492 | ) |
| Distributions to participants | (125,790 | ) |
| Increase (decrease) in net assets available for benefits | $ (192,058 | ) |
15
COLGATE-PALMOLIVE COMPANY
EMPLOYEES SAVINGS AND INVESTMENT PLAN
Notes to Financial Statements (continued)
(Dollars in thousands, except as indicated)
At December 31, 2016 and 2015, benefit distributions that have been processed and approved for payment as of such date but not yet paid of $345 and $123, respectively, are not reflected in the financial statements. These amounts are reported as a liability on Form 5500.
The Plan invests in various investment securities. Investment securities are exposed to various risks such as interest rate, market and credit risks. Due to the level of risk associated with certain investment securities, it is reasonably possible that changes in the value of investment securities may occur in the near term and that such changes could materially affect participant account balances and the amounts reported in the Statements of Net Assets Available for Benefits.
As of December 31, 2016 and 2015, the Plan held shares of common stock of Colgate-Palmolive Company, the Plan Sponsor. Certain investments within the Employee Benefit Temporary Investment FD Fund are shares of funds managed by Bank of New York Mellon, the trustee of the Plan. Certain investments within the Dreyfus Treasury Prime Fund are shares of funds managed by Bank of New York Mellon’s affiliate, Dreyfus. As of December 31, 2016, the Plan had $11,463 and $2,174 invested in the Employee Benefit Temporary Investment FD Fund and Dreyfus Treasury Prime Fund, respectively. As of December 31, 2015, the Plan had $9,546 and $9,704 invested in the Employee Benefit Temporary Investment FD Fund and Dreyfus Treasury Prime Fund, respectively. These transactions qualify as party-in-interest transactions that are allowable under ERISA. Administrative fees paid to Bank of New York Mellon for the twelve months ended December 31, 2016 were $462.
16
SIGNATURES
The Plan: Pursuant to the requirements of the Securities Exchange Act of 1934, as amended the Trustees (or other persons who administer the employee benefit plan) have duly caused this annual report to be signed on its behalf by the undersigned thereunto duly authorized.
| COLGATE-PALMOLIVE COMPANY EMPLOYEES SAVINGS AND INVESTMENT PLAN (Name of Plan) | |
|---|---|
| Date: June 15, 2017 | /s/ Dennis J. Hickey |
| Dennis J. Hickey | |
| Chief Financial Officer | |
| Colgate-Palmolive Company |
| Date: June 15, 2017 |
|---|
| Victoria L. Dolan |
| Chief Transformation Officer and Corporate Controller |
| Colgate-Palmolive Company |
17
EIN: 13-1815595
PN: 003
SCHEDULE H
COLGATE-PALMOLIVE COMPANY
EMPLOYEES SAVINGS AND INVESTMENT PLAN
SCHEDULE H, LINE 4I - SCHEDULE OF ASSETS (HELD AT END OF YEAR)
PARTICIPANT LOANS
AS OF DECEMBER 31, 2016
(Dollars in thousands, except as indicated)
| (a) | (c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value | (e) Current value |
|---|---|---|
| Participant loans, maturities ranging from 1 to 15 years | 3.3% - 8.3% | $ 14,863 |
| Total Participant Loans | $ 14,863 |
EIN: 13-1815595
PN: 003
SCHEDULE H
COLGATE-PALMOLIVE COMPANY
EMPLOYEES SAVINGS AND INVESTMENT PLAN
SCHEDULE H, LINE 4I - SCHEDULE OF ASSETS (HELD AT END OF YEAR)
SHORT TERM FIXED INCOME FUND
AS OF DECEMBER 31, 2016
(Dollars in thousands, except as indicated)
| (a) | (b) Identity of issuer, borrower, lessor or similar party | (c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value | (e) Current value | |
|---|---|---|---|---|
| Colgate Separate Account Cash | 0.66 % | $ 17,744 | $ 17,744 | |
| * | Dreyfus Treasury Prime Fund | 0.00 % | 2,173 | 2,174 |
| ANZ New Zealand Int’l Ltd | 1.40 % | 300 | 301 | |
| Altera Corp | 1.75 % | 402 | 402 | |
| American Express Credit Corp | 1.13 % | 400 | 400 | |
| BNP Paribas SA | 1.38 % | 300 | 301 | |
| BPCE SA | Var Rate | 250 | 250 | |
| * | Bank of New York Mellon Corp | Step | 301 | 301 |
| Bank of Nova Scotia | 2.55 % | 300 | 304 | |
| Berkshire Hathaway Finance Corp | 1.60 % | 451 | 452 | |
| Canadian IMP BK NY Instl C/D | 1.01 % | 300 | 300 | |
| John Deere Capital Corp | 1.13 % | 401 | 401 | |
| ING Bank NV 144A | 3.75 % | 301 | 305 | |
| Jackson National Life Glo 144A | 1.25 % | 500 | 503 | |
| Macquarie Bank Ltd 144A | 1.65 % | 325 | 327 | |
| Metropolitan Life Global 144A | Var Rate | 500 | 502 | |
| Paccar Financial Corp | 1.10 % | 400 | 401 | |
| Pepsiamericas Inc. | 5.00 % | 406 | 409 | |
| Unitedhealth Group Inc | Var Rate | 290 | 291 | |
| Total Cash Equivalents | $ 26,068 | |||
| Guaranteed Investment Contracts: | ||||
| UNITED STATES TREASURY NOTE | 0.75 % | 10/31/2017 | 1,302 | |
| UNITED STATES TREASURY NOTE | 1.00 % | 05/15/2018 | 5,012 | |
| UNITED STATES TREASURY NOTE | 1.25 % | 10/31/2018 | 5,029 | |
| UNITED STATES TREASURY NOTE | 1.38 % | 4/30/2021 | 1,834 | |
| UNITED STATES TREASURY NOTE | 1.38 % | 09/30/2020 | 11,550 | |
| UNITED STATES TREASURY NOTE | 1.63 % | 06/30/2020 | 17,140 | |
| UNITED STATES TREASURY NOTE | 1.63 % | 07/31/2020 | 5,065 | |
| UNITED STATES TREASURY NOTE | 1.75 % | 09/30/2022 | 6,218 | |
| UNITED STATES TREASURY NOTE | 1.75 % | 12/31/2020 | 1,900 | |
| UNITED STATES TREASURY NOTE | 1.75 % | 03/31/2022 | 100 | |
| UNITED STATES TREASURY NOTE | 1.88 % | 08/31/2022 | 40 | |
| UNITED STATES TREASURY NOTE | 1.88 % | 10/31/2022 | 2,851 |
EIN: 13-1815595
PN: 003
SCHEDULE H
COLGATE-PALMOLIVE COMPANY
EMPLOYEES SAVINGS AND INVESTMENT PLAN
SCHEDULE H, LINE 4I - SCHEDULE OF ASSETS (HELD AT END OF YEAR)
SHORT TERM FIXED INCOME FUND
AS OF DECEMBER 31, 2016
(Dollars in thousands, except as indicated)
| (a) | (c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value | (e) Current value | |
|---|---|---|---|
| UNITED STATES TREASURY NOTE | 2.00 % | 08/15/2025 | 882 |
| UNITED STATES TREASURY NOTE | 2.25 % | 11/15/2025 | 3,149 |
| UNITED STATES TREASURY NOTE | 2.25 % | 12/31/2023 | 4,861 |
| UNITED STATES TREASURY NOTE | 2.38 % | 08/15/2024 | 6,638 |
| UNITED STATES TREASURY NOTE | 3.00 % | 11/15/2045 | 50 |
| UNITED STATES STRIP | — % | 02/15/2036 | 169 |
| UNITED STATES T-BILL | — % | 05/04/2017 | 1,298 |
| UNITED STATES T-BILL | — % | 04/27/2017 | 2,835 |
| UNITED STATES TIPS | 0.13 % | 04/15/2017 | 961 |
| UNITED STATES TIPS | 0.13 % | 04/15/2018 | 4,753 |
| UNITED STATES TIPS | 0.13 % | 04/15/2019 | 261 |
| UNITED STATES TIPS | 0.13 % | 01/15/2023 | 1,146 |
| UNITED STATES TIPS | 0.38 % | 07/15/2023 | 1,263 |
| UNITED STATES TIPS | 0.63 % | 01/15/2024 | 1,486 |
| UNITED STATES TIPS | 1.13 % | 01/15/2021 | 703 |
| UNITED STATES TIPS | 2.63 % | 07/15/2017 | 489 |
| FEDERAL FARM CREDIT BANK SYSTEM | 5.05 % | 06/22/2018 | 1,795 |
| FEDERAL HOME LOAN BANK SYSTEM | 1.88 % | 03/13/2020 | 306 |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION | 1.88 % | 09/24/2026 | 1,209 |
| COMMONWEALTH OF PENNSYLVANIA | 5.85 % | 07/15/2030 | 699 |
| DALLAS TEXAS INDEPENDENT SCHO | 6.45 % | 02/15/2035 | 477 |
| VIRGINIA COMMONWEALTH TRANSPORTATION | 5.35 % | 05/15/2035 | 543 |
| ACTAVIS FUNDING SCS | 3.45 % | 03/15/2022 | 621 |
| ACTAVIS FUNDING SCS | 3.80 % | 03/15/2025 | 143 |
| ACTAVIS FUNDING SCS | 3.85 % | 06/15/2024 | 228 |
| AETNA INC. | 2.40 % | 06/15/2021 | 175 |
| AETNA INC. | 2.80 % | 06/15/2023 | 148 |
| AMAZON.COM INC. | 3.30 % | 12/05/2021 | 286 |
| AMERICAN CAMPUS COMMUNITIES | 4.13 % | 07/01/2024 | 427 |
| AMERICAN EXPRESS CREDIT CORPORATION | 2.38 % | 03/24/2017 | 305 |
| AMERICAN INTERNATIONAL GROUP | 3.90 % | 04/01/2026 | 493 |
| AMERICAN INTERNATIONAL GROUP | 4.88 % | 06/01/2022 | 110 |
| ANDARKO PETROLEUM CORPORATION | 3.45 % | 07/15/2024 | 106 |
EIN: 13-1815595
PN: 003
SCHEDULE H
COLGATE-PALMOLIVE COMPANY
EMPLOYEES SAVINGS AND INVESTMENT PLAN
SCHEDULE H, LINE 4I - SCHEDULE OF ASSETS (HELD AT END OF YEAR)
SHORT TERM FIXED INCOME FUND
AS OF DECEMBER 31, 2016
(Dollars in thousands, except as indicated)
| (a) | (c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value | (e) Current value | |
|---|---|---|---|
| ANDARKO PETROLEUM CORPORATION | 8.70 % | 03/15/2019 | 416 |
| ANHEUSER-BUSCH INBEV FINANCE | 2.65 % | 02/01/2021 | 257 |
| ANHEUSER-BUSCH INBEV FINANCE | 3.65 % | 02/01/2026 | 889 |
| APACHE CORPORATION | 2.63 % | 01/15/2023 | 148 |
| APACHE CORPORATION | 3.25 % | 04/15/2022 | 154 |
| APPALACHIAN POWER COMPANY | 4.60 % | 03/30/2021 | 686 |
| ARCH CAPITAL FINANCE LLC | 4.01 % | 12/15/2026 | 153 |
| AT&T INC. | 2.30 % | 03/11/2019 | 356 |
| AT&T INC. | 3.40 % | 05/15/2025 | 122 |
| AT&T INC. | 4.13 % | 02/17/2026 | 209 |
| AUTOMATIC DATA PROCESSING | 3.38 % | 09/15/2025 | 78 |
| BANK OF AMERICA CORPORATION | 3.25 % | 10/21/2027 | 459 |
| BANK OF AMERICA CORPORATION | 4.00 % | 04/01/2024 | 841 |
| BANK OF AMERICA NATIONAL ASSOCI | 1.65 % | 03/26/2018 | 934 |
| BANK OF TOKYO-MITSUBISHI UF | 2.15 % | 09/14/2018 | 456 |
| BB&T CORPORATION | 1.60 % | 08/15/2017 | 304 |
| BERKSHIRE HATHAWAY ENERGY COMP | 2.40 % | 02/01/2020 | 614 |
| BPCE | 4.00 % | 04/15/2024 | 580 |
| BRANCH BANKING AND TRUST COM | 3.63 % | 09/16/2025 | 519 |
| BRIXMOR OPERATING PARTNERSHIP | 3.85 % | 02/01/2025 | 153 |
| BUCKEYE PARTNERS L.P. | 4.15 % | 07/01/2023 | 211 |
| CHARTER COMMUNICATIONS OPERA | 4.91 % | 07/23/2025 | 631 |
| CIGNA CORPORATION | 3.25 % | 04/15/2025 | 272 |
| CITIGROUP INC. | 4.50 % | 01/14/2022 | 886 |
| COMCAST CORPORATION | 3.38 % | 08/15/2025 | 181 |
| CONOCOPHILLIPS COMPANY | 3.35 % | 11/15/2024 | 326 |
| CONOCOPHILLIPS COMPANY | 4.95 % | 03/15/2026 | 170 |
| CREDIT SUISSE AG-NEW YORK BRANCH | 3.00 % | 10/29/2021 | 867 |
| CREDIT SUISSE GROUP FUNDING | 3.13 % | 12/10/2020 | 250 |
| CROWN CASTLE INTERNATIONAL CO | 2.25 % | 09/01/2021 | 123 |
| CUBESMART L.P. | 4.80 % | 07/15/2022 | 448 |
| CVS HEALTH CORPORATION | 2.88 % | 06/01/2026 | 742 |
| DANAHER CORPORATION | 3.35 % | 09/15/2025 | 235 |
EIN: 13-1815595
PN: 003
SCHEDULE H
COLGATE-PALMOLIVE COMPANY
EMPLOYEES SAVINGS AND INVESTMENT PLAN
SCHEDULE H, LINE 4I - SCHEDULE OF ASSETS (HELD AT END OF YEAR)
SHORT TERM FIXED INCOME FUND
AS OF DECEMBER 31, 2016
(Dollars in thousands, except as indicated)
| (a) | (c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value | (e) Current value | |
|---|---|---|---|
| DEUTSCHE BANK AG-LONDON BRANCH | 2.50 % | 02/13/2019 | 177 |
| DEUTSCHE BANK AKTIENGESELLS | 4.25 % | 10/14/2021 | 204 |
| DEVON ENERGY CORPORATION | 3.25 % | 05/15/2022 | 125 |
| DEVON ENERGY CORPORATION | 4.00 % | 07/15/2021 | 80 |
| DUKE ENERGY CORPORATION | 2.65 % | 09/01/2026 | 191 |
| DUKE ENERGY PROGRESS LLC | 5.30 % | 01/15/2019 | 212 |
| EASTMAN CHEMICAL COMPANY | 3.80 % | 03/15/2025 | 254 |
| ECOLAB INC. | 2.70 % | 11/01/2026 | 217 |
| EMERA US FINANCE LP | 2.70 % | 06/15/2021 | 174 |
| ENERGY TRANSFER PARTNERS L.P | 4.65 % | 06/01/2021 | 132 |
| ENTERGY CORPORATION | 2.95 % | 09/01/2026 | 191 |
| ENTERPRISE PRODUCTS OPERATING | 2.85 % | 04/15/2021 | 178 |
| ENTERPRISE PRODUCTS OPERATING | 3.75 % | 02/15/2025 | 42 |
| ENTERPRISE PRODUCTS OPERATING LL | 5.25 % | 01/31/2020 | 563 |
| ERP OPERATING LIMITED PARTNE | 4.63 % | 12/15/2021 | 213 |
| FEDERAL REALTY INVESTMENT TRU | 2.55 % | 01/15/2021 | 153 |
| FIDELITY NATIONAL INFORMATION | 3.63 % | 10/15/2020 | 446 |
| FIDELITY NATIONAL INFORMATION SE | 3.00 % | 08/15/2026 | 192 |
| FISERV INC. | 2.70 % | 06/01/2020 | 278 |
| FORD MOTOR CREDIT COMPANY LLC | 5.88 % | 08/02/2021 | 1,297 |
| FOREST LABORATORIES INC. | 4.38 % | 02/01/2019 | 188 |
| FOREST LABORATORIES INC. | 5.00 % | 12/15/2021 | 136 |
| HALLIBURTON COMPANY | 3.25 % | 11/15/2021 | 309 |
| HALLIBURTON COMPANY | 3.50 % | 08/01/2023 | 52 |
| HARTFORD FINANCIAL SERVICES GROUP | 5.50 % | 03/30/2020 | 252 |
| HARTFORD FINANCIAL SERVICES GROUP | 6.00 % | 01/15/2019 | 119 |
| HEALTHCARE TRUST OF AMERICA | 3.38 % | 07/15/2021 | 156 |
| HEWLETT PACKARD ENTERPRISE COM | 4.90 % | 10/15/2025 | 236 |
| HP INC. | 4.30 % | 06/01/2021 | 184 |
| INTEL CORPORATION | 3.70 % | 07/29/2025 | 407 |
| INTESA SANPAOLO SPA | 2.38 % | 01/13/2017 | 434 |
| INTESA SANPAOLO SPA | 5.25 % | 01/12/2024 | 358 |
| JPMORGAN CHASE & CO. | 2.97 % | 01/15/2023 | 350 |
EIN: 13-1815595
PN: 003
SCHEDULE H
COLGATE-PALMOLIVE COMPANY
EMPLOYEES SAVINGS AND INVESTMENT PLAN
SCHEDULE H, LINE 4I - SCHEDULE OF ASSETS (HELD AT END OF YEAR)
SHORT TERM FIXED INCOME FUND
AS OF DECEMBER 31, 2016
(Dollars in thousands, except as indicated)
| (a) | (c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value | (e) Current value | |
|---|---|---|---|
| JPMORGAN CHASE & CO. | 3.63 % | 12/01/2027 | 196 |
| JPMORGAN CHASE & CO. | 4.40 % | 07/22/2020 | 265 |
| JPMORGAN CHASE & CO. | 4.50 % | 01/24/2022 | 1,788 |
| KEYCORP | 5.10 % | 03/24/2021 | 269 |
| KILROY REALTY L.P. | 4.38 % | 10/01/2025 | 288 |
| KIMCO REALTY CORPORATION | 3.20 % | 05/01/2021 | 462 |
| KINDER MORGAN ENERGY PARTNERS | 3.50 % | 03/01/2021 | 571 |
| KINDER MORGAN INC. | 3.05 % | 12/01/2019 | 714 |
| LYONDELLBASELL INDUSTRIES N.V. | 5.00 % | 04/15/2019 | 313 |
| MAGELLAN MIDSTREAM PARTNERS LP | 5.00 % | 03/01/2026 | 282 |
| MARRIOTT INTERNATIONAL INC | 2.88 % | 03/01/2021 | 230 |
| MEDTRONIC INC. | 2.50 % | 03/15/2020 | 128 |
| MEDTRONIC INC. | 3.15 % | 03/15/2022 | 209 |
| METLIFE INC. | 4.37 % | 09/15/2023 | 81 |
| MOLSON COORS BREWING COMPANY | 2.10 % | 07/15/2021 | 99 |
| MOLSON COORS BREWING COMPANY | 3.00 % | 07/15/2026 | 122 |
| MORGAN STANLEY | 2.65 % | 01/27/2020 | 873 |
| MORGAN STANLEY | 3.70 % | 10/23/2024 | 282 |
| MORGAN STANLEY | 4.00 % | 07/23/2025 | 27 |
| MORGAN STANLEY | 5.50 % | 07/28/2021 | 1,184 |
| MORGAN STANLEY FRN | 2.28 % | 10/24/2023 | 433 |
| MYLAN N.V. | 3.95 % | 06/15/2026 | 141 |
| NATIONAL RETAIL PROPERTIES INC. | 4.00 % | 11/15/2025 | 180 |
| NBCUNIVERSAL MEDIA LLC | 2.88 % | 01/15/2023 | 128 |
| NBCUNIVERSAL MEDIA LLC | 4.38 % | 04/01/2021 | 524 |
| NEVADA POWER COMPANY | 6.50 % | 05/15/2018 | 211 |
| NEXTERA ENERGY CAPITAL HOLDINGS IN | 6.00 % | 03/01/2019 | 264 |
| ORACLE CORPORATION | 2.50 % | 05/15/2022 | 300 |
| PACIFIC GAS AND ELECTRIC COMPA | 3.50 % | 06/15/2025 | 180 |
| PENSKE TRUCK LEASING CO. | 4.88 % | 07/11/2022 | 616 |
| PIONEER NATURAL RESOURCES COM | 3.95 % | 07/15/2022 | 328 |
| PLAINS ALL AMERICAN PIPELINE | 3.65 % | 06/01/2022 | 76 |
| PLAINS ALL AMERICAN PIPELINE | 4.65 % | 10/15/2025 | 184 |
EIN: 13-1815595
PN: 003
SCHEDULE H
COLGATE-PALMOLIVE COMPANY
EMPLOYEES SAVINGS AND INVESTMENT PLAN
SCHEDULE H, LINE 4I - SCHEDULE OF ASSETS (HELD AT END OF YEAR)
SHORT TERM FIXED INCOME FUND
AS OF DECEMBER 31, 2016
(Dollars in thousands, except as indicated)
| (a) | (c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value | (e) Current value | |
|---|---|---|---|
| PNC BANK NATIONAL ASSOCIATION | 3.80 % | 07/25/2023 | 638 |
| RETAIL OPPORTUNITY INVESTMENTS | 4.00 % | 12/15/2024 | 313 |
| REYNOLDS AMERICAN INC. | 4.45 % | 06/12/2025 | 1,114 |
| ROPER TECHNOLOGIES INC. | 3.00 % | 12/15/2020 | 203 |
| SANTANDER BANK N.A. | 2.00 % | 01/12/2018 | 611 |
| SANTANDER UK PLC | 3.05 % | 08/23/2018 | 415 |
| SANTANDER UK PLC | 4.00 % | 03/13/2024 | 426 |
| SANTANDER UK PLC | 5.00 % | 11/07/2023 | 206 |
| SELECT INCOME REIT | 2.85 % | 02/01/2018 | 51 |
| SELECT INCOME REIT | 3.60 % | 02/01/2020 | 103 |
| SHELL INTERNATIONAL FINANCE B.V | 2.13 % | 05/11/2020 | 603 |
| SOUTHERN COMPANY | 2.35 % | 07/01/2021 | 379 |
| SUNOCO LOGISTICS PARTNERS OPE | 4.25 % | 04/01/2024 | 103 |
| SUNTRUST BANK | 2.75 % | 05/01/2023 | 369 |
| SUNTRUST BANK | 7.25 % | 03/15/2018 | 271 |
| SYNCHRONY FINANCIAL | 2.60 % | 01/15/2019 | 180 |
| SYSCO CORPORATION | 2.50 % | 07/15/2021 | 304 |
| SYSCO CORPORATION | 3.30 % | 07/15/2026 | 354 |
| TANGER PROPERTIES LIMITED PA | 3.13 % | 09/01/2026 | 241 |
| TD AMERITRADE HOLDING CORPORATION | 2.95 % | 04/01/2022 | 385 |
| TELEFONICA EMISIONES S.A.U. | 5.46 % | 02/16/2021 | 1,103 |
| THERMO FISHER SCIENTIFIC INC. | 3.65 % | 12/15/2025 | 478 |
| TIME WARNER CABLE LLC | 4.00 % | 09/01/2021 | 158 |
| TIME WARNER CABLE LLC | 6.75 % | 07/01/2018 | 170 |
| U.S. BANCORP | 2.95 % | 07/15/2022 | 181 |
| USD MARGIN CURRENCY | 0.66 % | 12/30/2016 | 62 |
| VENTAS REALTY LIMITED PARTNER | 2.70 % | 04/01/2020 | 357 |
| VERIZON COMMUNICATIONS INC. | 2.45 % | 11/01/2022 | 974 |
| VERIZON COMMUNICATIONS INC. | 5.15 % | 09/15/2023 | 483 |
| WALGREENS BOOTS ALLIANCE INC. | 3.10 % | 06/01/2023 | 399 |
| WALGREENS BOOTS ALLIANCE INC. | 3.30 % | 11/18/2021 | 411 |
| WELLS FARGO & COMPANY | 3.00 % | 10/23/2026 | 698 |
| WELLS FARGO & COMPANY | 4.60 % | 04/01/2021 | 576 |
| WELLTOWER INC. | 4.13 % | 04/01/2019 | 188 |
EIN: 13-1815595
PN: 003
SCHEDULE H
COLGATE-PALMOLIVE COMPANY
EMPLOYEES SAVINGS AND INVESTMENT PLAN
SCHEDULE H, LINE 4I - SCHEDULE OF ASSETS (HELD AT END OF YEAR)
SHORT TERM FIXED INCOME FUND
AS OF DECEMBER 31, 2016
(Dollars in thousands, except as indicated)
| (a) | (c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value | (e) Current value | |
|---|---|---|---|
| WESTERN GAS PARTNERS LP | 3.95 % | 06/01/2025 | 174 |
| WILLIAMS PARTNERS L.P. | 3.60 % | 03/15/2022 | 128 |
| WILLIAMS PARTNERS L.P. | 4.00 % | 11/15/2021 | 207 |
| WISCONSIN POWER AND LIGHT COMPANY | 5.00 % | 07/15/2019 | 835 |
| XCEL ENERGY INC. | 2.40 % | 03/15/2021 | 504 |
| CREDIT SUISSE MORTGAGE | 5.53 % | 01/15/2049 | 450 |
| WACHOVIA BANK COMMERC | 6.01 % | 06/15/2045 | 91 |
| WELLS FARGO COMMERCI | 3.54 % | 12/15/2048 | 1,283 |
| FGCI J13715 | 3.50 % | 12/01/2020 | 2 |
| FGLMC G05532 | 5.50 % | 08/01/2035 | 782 |
| FGLMC G06255 | 4.50 % | 02/01/2041 | 171 |
| FGLMC G06348 | 4.50 % | 02/01/2041 | 127 |
| FGLMC G07505 | 7.00 % | 02/01/2039 | 432 |
| FGLMC G07961 | 3.50 % | 03/01/2045 | 1,728 |
| FHARM 1B0118 | 3.16 % | 08/01/2031 | 6 |
| FHARM 781013 | 2.59 % | 11/01/2033 | 67 |
| FHARM 847589 | 2.88 % | 09/01/2035 | 97 |
| FNARM 748645 | 2.57 % | 09/01/2033 | 93 |
| FNARM 754671 | 2.72 % | 10/01/2033 | 81 |
| FNARM 756359 | 2.88 % | 12/01/2033 | 54 |
| FNARM 758612 | 2.78 % | 11/01/2033 | 87 |
| FNCI AL3757 | 5.00 % | 03/01/2027 | 38 |
| FNCL 805480 | 5.50 % | 12/01/2034 | 583 |
| FNCL 889060 | 6.00 % | 01/01/2038 | 176 |
| FNCL 889061 | 6.00 % | 01/01/2038 | 166 |
| FNCL AL4316 | 7.00 % | 03/01/2039 | 249 |
| FNCN AE2033 | 3.50 % | 09/01/2020 | 12 |
| CS FIRST BOSTON MORTGAGE | 5.50 % | 07/25/2020 | 67 |
| FEDERAL HOME LOAN | 2.09 % | 03/25/2019 | 1,112 |
| FEDERAL HOME LOAN | 1.88 % | 05/25/2019 | 1,308 |
| FEDERAL HOME LOAN | 3.50 % | 10/15/2024 | 96 |
| FEDERAL HOME LOAN MO HA | 2.50 % | 05/15/2045 | 629 |
| FEDERAL HOME LOAN MOR | 1.10 % | 08/15/2036 | 607 |
| FEDERAL HOME LOAN MORT | 3.00 % | 06/15/2045 | 1,306 |
| FEDERAL HOME LOAN MORT PA | 3.00 % | 03/15/2044 | 988 |
| FEDERAL HOME LOAN MORT PA | 3.00 % | 11/15/2044 | 936 |
EIN: 13-1815595
PN: 003
SCHEDULE H
COLGATE-PALMOLIVE COMPANY
EMPLOYEES SAVINGS AND INVESTMENT PLAN
SCHEDULE H, LINE 4I - SCHEDULE OF ASSETS (HELD AT END OF YEAR)
SHORT TERM FIXED INCOME FUND
AS OF DECEMBER 31, 2016
(Dollars in thousands, except as indicated)
| (a) | (c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value | (e) Current value | |
|---|---|---|---|
| FEDERAL NATIONAL MORTGAGE | 1.80 % | 12/25/2019 | 603 |
| FEDERAL NATIONAL MORTGAGE | 1.52 % | 12/25/2019 | 327 |
| FEDERAL NATIONAL MORTGAGE | 2.35 % | 05/25/2022 | 497 |
| FEDERAL NATIONAL MORTGAGE | 2.98 % | 04/25/2022 | 820 |
| FEDERAL NATIONAL MORTGAGE | 2.71 % | 09/25/2022 | 528 |
| FEDERAL NATIONAL MORTG PA | 2.50 % | 12/25/2041 | 261 |
| FEDERAL NATIONAL MORTGAGE | 7.00 % | 10/25/2042 | 106 |
| FNMA AL2293 | 4.38 % | 06/01/2021 | 485 |
| MASTR ASSET SECURITIZA | 5.50 % | 05/25/2033 | 97 |
| WAMU 2004AR14 A1 | 2.83 % | 01/25/2035 | 68 |
| ACCESS GROUP INC. | 1.04 % | 08/25/2023 | 49 |
| ALLY AUTO RECEIVABLE | 1.21 % | 12/20/2017 | 141 |
| BARCLAYS DRYROCK ISSUAN | 2.41 % | 07/15/2022 | 862 |
| CAPITAL ONE MULTI-ASSET | 1.39 % | 01/15/2021 | 901 |
| CAPITAL ONE MULTI-ASSET | 1.66 % | 06/17/2024 | 1,165 |
| CARDS II TRUST A | 1.40 % | 07/15/2021 | 754 |
| CENTERPOINT ENERGY TR | 0.90 % | 04/15/2018 | 57 |
| CHASE EDUCATION LOAN TRU | 1.07 % | 12/28/2023 | 114 |
| DISCOVER CARD EXECUTION | 1.85 % | 10/16/2023 | 1,132 |
| DISCOVER CARD EXECUTION | 1.90 % | 10/17/2022 | 499 |
| EVERGREEN CREDIT CARD | 1.42 % | 04/15/2020 | 1,307 |
| FORD CREDIT AUTO | 2.03 % | 12/15/2027 | 591 |
| FORD CREDIT FLOORPLAN | 1.95 % | 11/15/2021 | 1,402 |
| GMF FLOORPLAN OWN | 1.65 % | 05/15/2020 | 750 |
| GMF FLOORPLAN OWN | 1.96 % | 05/17/2021 | 598 |
| GOLDEN CREDIT CARD | 1.60 % | 09/15/2021 | 891 |
| HIGHER EDUCATION FUNDING | 1.07 % | 02/25/2030 | 144 |
| NAVIENT STUDENT LOAN | 2.01 % | 06/25/2065 | 1,887 |
| NAVIENT STUDENT LOAN | 1.91 % | 03/25/2066 | 849 |
| NELNET STUDENT LOAN TRUST | 1.13 % | 06/22/2026 | 192 |
| NELNET STUDENT LOAN TRUST | 1.03 % | 08/23/2027 | 569 |
| NORTHSTAR EDUCATION | 1.06 % | 07/30/2018 | 44 |
| SLC STUDENT LOAN TRUST | 1.07 % | 03/15/2027 | 741 |
| SLM STUDENT LOAN TRUST | 0.97 % | 10/25/2024 | 327 |
| SLM STUDENT LOAN TRUST | 0.99 % | 07/25/2025 | 409 |
| SLM STUDENT LOAN TRUST | 1.11 % | 01/25/2023 | 111 |
EIN: 13-1815595
PN: 003
SCHEDULE H
COLGATE-PALMOLIVE COMPANY
EMPLOYEES SAVINGS AND INVESTMENT PLAN
SCHEDULE H, LINE 4I - SCHEDULE OF ASSETS (HELD AT END OF YEAR)
SHORT TERM FIXED INCOME FUND
AS OF DECEMBER 31, 2016
(Dollars in thousands, except as indicated)
| (a) | (b) Identity of issuer, borrower, lessor or similar party | (c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value | (e) Current value | ||
|---|---|---|---|---|---|
| SOUTH CAROLINA STUDENT | 1.37 % | 05/01/2030 | 488 | ||
| TRILLIUM CREDIT CARD | 1.48 % | 05/26/2021 | 1,357 | ||
| WACHOVIA STUDENT LOAN TR | 1.01 % | 01/26/2026 | 99 | ||
| * | EB TEMPORARY INVESTMENT FUND | 4,432 | |||
| Total Guaranteed Investment Contracts at Fair Value | $ 187,007 | ||||
| Reconciling Item: | |||||
| Adjustment from Fair Value to Contract Value for Fully Benefit-responsive Investment Contracts | (4,825 | ) | |||
| Total Investments at Contract Value per Financial Statements | $ 182,182 | ||||
| Total Fund A | $ 208,250 | ||||
| * | Represents a Party-In-Interest as defined by ERISA |
| EIN: 13-1815595 |
|---|
| PN: 003 |
| SCHEDULE H |
COLGATE-PALMOLIVE COMPANY
EMPLOYEES SAVINGS AND INVESTMENT PLAN
SCHEDULE H, LINE 4I - SCHEDULE OF ASSETS (HELD AT END OF YEAR)
COLGATE COMMON STOCK FUND (FUND B)
AS OF DECEMBER 31, 2016
(Dollars in thousands, except as indicated)
| (a) | (b) Identity of issuer, borrower, lessor or similar party | (c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value | (e) Current value | |
|---|---|---|---|---|
| * | Employee Benefit Temporary Investment FD | $ 4,524 | $ 4,524 | |
| * | Colgate-Palmolive Co. Common Stock | 5,003,653 | shares | 327,439 |
| Total | $ 331,963 | |||
| * | Represents a Party-In-Interest as defined by ERISA |
| EIN: 13-1815595 |
|---|
| PN: 003 |
| SCHEDULE H |
COLGATE-PALMOLIVE COMPANY
EMPLOYEES SAVINGS AND INVESTMENT PLAN
SCHEDULE H, LINE 4I - SCHEDULE OF ASSETS (HELD AT END OF YEAR)
COLGATE COMMON STOCK FUND (FUND D)
AS OF DECEMBER 31, 2016
(Dollars in thousands, except as indicated)
| (a) | (b) Identity of issuer, borrower, lessor or similar party | (c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value | (d) Cost | (e) Current value | |
|---|---|---|---|---|---|
| * | Employee Benefit Temporary Investment FD | $ 825 | $ 825 | $ 825 | |
| * | Colgate-Palmolive Co. Common Stock | 21,082,162 | shares | 85,655 | 1,379,617 |
| Total | $ 86,480 | $ 1,380,442 | |||
| * | Represents a Party-In-Interest as defined by ERISA |
| EIN: 13-1815595 |
|---|
| PN: 003 |
| SCHEDULE H |
COLGATE-PALMOLIVE COMPANY
EMPLOYEES SAVINGS AND INVESTMENT PLAN
SCHEDULE H, LINE 4I - SCHEDULE OF ASSETS (HELD AT END OF YEAR)
COLGATE COMMON STOCK FUND (FUND E)
AS OF DECEMBER 31, 2016
(Dollars in thousands, except as indicated)
| (a) | (b) Identity of issuer, borrower, lessor or similar party | (c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value | (d) Cost | (e) Current value | |
|---|---|---|---|---|---|
| * | Employee Benefit Temporary Investment FD | $ 35 | $ 35 | $ 35 | |
| * | Colgate-Palmolive Co. Common Stock | 404,173 | shares | 449 | 26,449 |
| Total | $ 484 | $ 26,484 | |||
| * | Represents a Party-In-Interest as defined by ERISA |
| EIN: 13-1815595 |
|---|
| PN: 003 |
| SCHEDULE H |
COLGATE-PALMOLIVE COMPANY
EMPLOYEES SAVINGS AND INVESTMENT PLAN
SCHEDULE H, LINE 4I - SCHEDULE OF ASSETS (HELD AT END OF YEAR)
VANGUARD WELLINGTON FUND
AS OF DECEMBER 31, 2016
(Dollars in thousands, except as indicated)
| (a) | (c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value | (e) Current value | |
|---|---|---|---|
| Mutual Funds: | |||
| Vanguard Wellington Fund | 2,339,531 | units | $ 157,801 |
| Total | $ 157,801 |
| EIN: 13-1815595 |
|---|
| PN: 003 |
| SCHEDULE H |
COLGATE-PALMOLIVE COMPANY
EMPLOYEES SAVINGS AND INVESTMENT PLAN
SCHEDULE H, LINE 4I - SCHEDULE OF ASSETS (HELD AT END OF YEAR)
VANGUARD INSTITUTIONAL INDEX FUND
AS OF DECEMBER 31, 2016
(Dollars in thousands, except as indicated)
| (a) | (c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value | (e) Current value | |
|---|---|---|---|
| Mutual Funds: | |||
| Vanguard Institutional Index Fund (Admiral shares) | 755,353 | units | $ 153,964 |
| Total | $ 153,964 |
| EIN: 13-1815595 |
|---|
| PN: 003 |
| SCHEDULE H |
COLGATE-PALMOLIVE COMPANY
EMPLOYEES SAVINGS AND INVESTMENT PLAN
SCHEDULE H, LINE 4I - SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AMERICAN FUNDS EUROPACIFIC GROWTH FUND
AS OF DECEMBER 31, 2016
(Dollars in thousands, except as indicated)
| (a) | (c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value | (e) Current value | |
|---|---|---|---|
| Mutual Funds: | |||
| American Funds EuroPacific Growth Fund | 2,164,500 | units | $ 97,489 |
| Total | $ 97,489 |
| EIN: 13-1815595 |
|---|
| PN: 003 |
| SCHEDULE H |
COLGATE-PALMOLIVE COMPANY
EMPLOYEES SAVINGS AND INVESTMENT PLAN
SCHEDULE H, LINE 4I - SCHEDULE OF ASSETS (HELD AT END OF YEAR)
BAIRD CORE PLUS BOND
AS OF DECEMBER 31, 2016
(Dollars in thousands, except as indicated)
| (a) | (c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value | (e) Current value | |
|---|---|---|---|
| Mutual Funds: | |||
| Baird Core Plus Bond | 9,532,241 | units | $ 105,141 |
| Total | $ 105,141 |
| EIN: 13-1815595 |
|---|
| PN: 003 |
| SCHEDULE H |
COLGATE-PALMOLIVE COMPANY
EMPLOYEES SAVINGS AND INVESTMENT PLAN
SCHEDULE H, LINE 4I - SCHEDULE OF ASSETS (HELD AT END OF YEAR)
VANGUARD EXTENDED MARKET INDEX
AS OF DECEMBER 31, 2016
(Dollars in thousands, except as indicated)
| (a) | (c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value | (e) Current value | |
|---|---|---|---|
| Mutual Funds: | |||
| Vanguard Extended Market Index | 1,205,149 | units | $ 87,638 |
| Total | $ 87,638 |
| EIN: 13-1815595 |
|---|
| PN: 003 |
| SCHEDULE H |
COLGATE-PALMOLIVE COMPANY
EMPLOYEES SAVINGS AND INVESTMENT PLAN
SCHEDULE H, LINE 4I - SCHEDULE OF ASSETS (HELD AT END OF YEAR)
NEUBERGER BERMAN GENESIS FUND
AS OF DECEMBER 31, 2016
(Dollars in thousands, except as indicated)
| (a) | (c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value | (e) Current value | |
|---|---|---|---|
| Mutual Funds: | |||
| Neuberger Berman Genesis Fund | 2,144,311 | units | $ 121,625 |
| Total | $ 121,625 |
| EIN: 13-1815595 |
|---|
| PN: 003 |
| SCHEDULE H |
COLGATE-PALMOLIVE COMPANY
EMPLOYEES SAVINGS AND INVESTMENT PLAN
SCHEDULE H, LINE 4I - SCHEDULE OF ASSETS (HELD AT END OF YEAR)
SEPARATELY MANAGED ACCOUNT FUNDS
AS OF DECEMBER 31, 2016
(Dollars in thousands, except as indicated)
| (a) | (b) Identity of issuer, borrower, lessor or similar party | (c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value | (e) Current value | |
|---|---|---|---|---|
| * | Employee Benefit Temporary Investment FD | $ 983 | $ 983 | |
| Brandywine Classic Large Cap Value Fund | ||||
| Equity Investments: | ||||
| EATON CORP PLC | 2,900 | shares | 195 | |
| HORIZON PHARMA PLC | 12,700 | shares | 205 | |
| JAZZ PHARMACEUTICALS PLC | 1,200 | shares | 131 | |
| MALLINCKRODT PLC | 3,900 | shares | 194 | |
| MICHAEL KORS HOLDINGS LTD | 10,130 | shares | 435 | |
| NORWEGIAN CRUISE LINE HOLDINGS | 4,700 | shares | 200 | |
| SIGNET JEWELERS LTD | 4,100 | shares | 386 | |
| AERCAP HOLDINGS NV | 14,400 | shares | 599 | |
| LYONDELLBASELL INDUSTRIES NV | 2,200 | shares | 189 | |
| MYLAN NV | 5,600 | shares | 214 | |
| AT&T INC. | 6,500 | shares | 276 | |
| ABBVIE INC. | 6,300 | shares | 394 | |
| AECOM | 5,000 | shares | 182 | |
| AKORN INC. | 5,200 | shares | 113 | |
| AMERICAN AIRLINES GROUP INC. | 14,700 | shares | 686 | |
| ANADARKO PETROLEUM CORP | 9,200 | shares | 641 | |
| APACHE CORP | 7,000 | shares | 444 | |
| APPLE INC. | 3,500 | shares | 405 | |
| APPLIED MATERIALS INC. | 6,000 | shares | 193 | |
| BP PLC | 33,087 | shares | 1,237 | |
| BANK OF AMERICA CORP | 58,700 | shares | 1,297 | |
| B/E AEROSPACE INC. | 3,400 | shares | 205 | |
| BERKSHIRE HATHAWAY INC. | 3,771 | shares | 615 | |
| CBS CORP | 4,200 | shares | 267 | |
| CALPINE CORP | 14,800 | shares | 169 | |
| CANADIAN NATURAL RESOURCES LTD | 18,700 | shares | 596 | |
| CARNIVAL CORP | 3,200 | shares | 167 | |
| CATERPILLAR INC. | 2,100 | shares | 195 | |
| CELGENE CORP | 1,700 | shares | 197 | |
| CHICAGO BRIDGE & IRON CO NV | 6,324 | shares | 201 | |
| CHINA MOBILE LTD | 7,200 | shares | 377 | |
| CISCO SYSTEMS INC. | 21,800 | shares | 659 |
| EIN: 13-1815595 |
|---|
| PN: 003 |
| SCHEDULE H |
COLGATE-PALMOLIVE COMPANY
EMPLOYEES SAVINGS AND INVESTMENT PLAN
SCHEDULE H, LINE 4I - SCHEDULE OF ASSETS (HELD AT END OF YEAR)
SEPARATELY MANAGED ACCOUNT FUNDS
AS OF DECEMBER 31, 2016
(Dollars in thousands, except as indicated)
| (a) | (b) Identity of issuer, borrower, lessor or similar party | (c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value | (e) Current value | |
|---|---|---|---|---|
| CITIGROUP INC. | 26,700 | shares | 1,587 | |
| DELTA AIR LINES INC. | 16,300 | shares | 802 | |
| DEVON ENERGY CORP | 10,900 | shares | 498 | |
| DILLARD’S INC. | 3,800 | shares | 238 | |
| DOW CHEMICAL CO | 3,300 | shares | 189 | |
| EASTMAN CHEMICAL CO | 2,600 | shares | 196 | |
| FLUOR CORP | 2,300 | shares | 121 | |
| GENERAL MOTORS CO | 28,300 | shares | 986 | |
| GILEAD SCIENCES INC. | 3,500 | shares | 251 | |
| GOODYEAR TIRE & RUBBER CO | 10,200 | shares | 315 | |
| IPG PHOTONICS CORP | 2,900 | shares | 286 | |
| JPMORGAN CHASE & CO | 11,100 | shares | 958 | |
| KOHL’S CORP | 5,900 | shares | 291 | |
| LOUISIANA-PACIFIC CORP | 11,900 | shares | 225 | |
| MACY’S INC. | 10,600 | shares | 380 | |
| MAGNA INTERNATIONAL INC. | 8,700 | shares | 378 | |
| METLIFE INC. | 12,200 | shares | 657 | |
| MICRON TECHNOLOGY INC. | 37,450 | shares | 821 | |
| MORGAN STANLEY | 17,500 | shares | 739 | |
| OCEANEERING INTERNATIONAL INC. | 5,100 | shares | 144 | |
| PFIZER INC. | 7,300 | shares | 237 | |
| POPULAR INC. | 7,800 | shares | 342 | |
| RELIANCE STEEL & ALUMINUM CO | 4,900 | shares | 390 | |
| SANTANDER CONSUMER USA HOLDING | 26,200 | shares | 354 | |
| SCRIPPS NETWORKS INTERACTIVE I | 4,800 | shares | 343 | |
| SYNCHRONY FINANCIAL | 10,800 | shares | 392 | |
| TEREX CORP | 9,765 | shares | 308 | |
| TOYOTA MOTOR CORP | 3,800 | shares | 445 | |
| TUPPERWARE BRANDS CORP | 1,700 | shares | 89 | |
| TWO HARBORS INVESTMENT CORP | 44,000 | shares | 384 | |
| Total Brandywine Classic Large Cap Value Fund | $ 25,610 | |||
| * | Employee Benefit Temporary Investment FD | $ 664 | $ 664 | |
| T. Rowe Price Growth Stock Strategy | ||||
| Equity Investments: | ||||
| TENCENT HOLDINGS LTD | 58,000 | shares | 1,419 |
| EIN: 13-1815595 |
|---|
| PN: 003 |
| SCHEDULE H |
COLGATE-PALMOLIVE COMPANY
EMPLOYEES SAVINGS AND INVESTMENT PLAN
SCHEDULE H, LINE 4I - SCHEDULE OF ASSETS (HELD AT END OF YEAR)
SEPARATELY MANAGED ACCOUNT FUNDS
AS OF DECEMBER 31, 2016
(Dollars in thousands, except as indicated)
| (a) | (c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value | (e) Current value | |
|---|---|---|---|
| ALLERGAN PLC | 2,400 | shares | 504 |
| DELPHI AUTOMOTIVE PLC | 12,900 | shares | 869 |
| IHS MARKIT LTD | 10,800 | shares | 382 |
| SIGNET JEWELERS LTD | 5,300 | shares | 500 |
| ASML HOLDING NV | 8,600 | shares | 965 |
| FERRARI NV | 15,700 | shares | 913 |
| NXP SEMICONDUCTORS NV | 15,100 | shares | 1,480 |
| AETNA INC. | 9,100 | shares | 1,129 |
| ALEXION PHARMACEUTICALS INC | 12,700 | shares | 1,554 |
| ALIBABA GROUP HOLDING LTD | 14,800 | shares | 1,300 |
| ALPHABET INC-CL C | 4,450 | shares | 3,435 |
| ALPHABET INC-CL A | 5,050 | shares | 4,002 |
| AMAZON.COM INC. | 11,260 | shares | 8,444 |
| AMERICAN AIRLINES GROUP INC | 34,053 | shares | 1,590 |
| AMERICAN TOWER CORP | 16,000 | shares | 1,691 |
| ANTHEM INC. | 3,400 | shares | 489 |
| APPLE INC. | 27,900 | shares | 3,231 |
| ASHLAND GLOBAL HOLDINGS INC. | 2,800 | shares | 306 |
| AUTOZONE INC. | 1,700 | shares | 1,343 |
| BIOGEN INC. | 4,900 | shares | 1,390 |
| BOEING CO | 10,200 | shares | 1,588 |
| BRISTOL-MYERS SQUIBB CO | 14,200 | shares | 830 |
| CIGNA CORP | 4,800 | shares | 640 |
| CELGENE CORP | 6,000 | shares | 694 |
| CENTENE CORP | 3,900 | shares | 220 |
| COSTCO WHOLESALE CORP | 900 | shares | 144 |
| CROWN CASTLE INTERNATIONAL COR | 9,900 | shares | 859 |
| CTRIP.COM INTERNATIONAL LTD | 12,800 | shares | 512 |
| DANAHER CORP | 19,800 | shares | 1,541 |
| DELTA AIR LINES INC. | 5,100 | shares | 251 |
| DOLLAR GENERAL CORP | 5,500 | shares | 407 |
| EQUIFAX INC. | 1,343 | shares | 159 |
| EQUINIX INC. | 2,100 | shares | 751 |
| FACEBOOK INC. | 39,700 | shares | 4,567 |
| FEDEX CORP | 3,300 | shares | 614 |
| EIN: 13-1815595 |
|---|
| PN: 003 |
| SCHEDULE H |
COLGATE-PALMOLIVE COMPANY
EMPLOYEES SAVINGS AND INVESTMENT PLAN
SCHEDULE H, LINE 4I - SCHEDULE OF ASSETS (HELD AT END OF YEAR)
SEPARATELY MANAGED ACCOUNT FUNDS
AS OF DECEMBER 31, 2016
(Dollars in thousands, except as indicated)
| (a) | (c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value | (e) Current value | |
|---|---|---|---|
| FIDELITY NATIONAL INFORMATION | 3,700 | shares | 280 |
| FIRST REPUBLIC BANK/CA | 2,459 | shares | 227 |
| FISERV INC. | 8,700 | shares | 925 |
| FORTIVE CORP | 11,000 | shares | 590 |
| HILTON WORLDWIDE HOLDINGS INC. | 19,300 | shares | 525 |
| HOME DEPOT INC. | 6,100 | shares | 818 |
| HONEYWELL INTERNATIONAL INC. | 7,000 | shares | 811 |
| HUMANA INC. | 5,300 | shares | 1,081 |
| ILLINOIS TOOL WORKS INC. | 2,100 | shares | 257 |
| ILLUMINA INC. | 4,871 | shares | 624 |
| INTERCONTINENTAL EXCHANGE INC. | 22,600 | shares | 1,275 |
| INTUITIVE SURGICAL INC. | 2,700 | shares | 1,712 |
| JPMORGAN CHASE & CO | 9,400 | shares | 811 |
| LAS VEGAS SANDS CORP | 12,800 | shares | 684 |
| LOWE'S COS INC. | 14,100 | shares | 1,003 |
| MGM RESORTS INTERNATIONAL | 36,900 | shares | 1,064 |
| MARRIOTT INTERNATIONAL INC/MD | 12,000 | shares | 992 |
| MARTIN MARIETTA MATERIALS INC. | 1,900 | shares | 421 |
| MASTERCARD INC. | 24,100 | shares | 2,488 |
| MERCADOLIBRE INC. | 3,000 | shares | 468 |
| MICROSOFT CORP | 72,300 | shares | 4,493 |
| MONDELEZ INTERNATIONAL INC. | 21,500 | shares | 953 |
| MORGAN STANLEY | 44,100 | shares | 1,863 |
| NETFLIX INC. | 3,800 | shares | 470 |
| NEXTERA ENERGY INC. | 6,500 | shares | 776 |
| NVIDIA CORP | 6,800 | shares | 726 |
| O'REILLY AUTOMOTIVE INC. | 2,660 | shares | 741 |
| PALO ALTO NETWORKS INC. | 2,000 | shares | 250 |
| PAYPAL HOLDINGS INC. | 55,300 | shares | 2,183 |
| PHILIP MORRIS INTERNATIONAL IN | 17,400 | shares | 1,592 |
| PRICELINE GROUP INC. | 3,270 | shares | 4,794 |
| ROPER TECHNOLOGIES INC. | 4,800 | shares | 879 |
| ROSS STORES INC. | 12,600 | shares | 827 |
| SALESFORCE.COM INC. | 26,900 | shares | 1,842 |
| CHARLES SCHWAB CORP | 20,700 | shares | 817 |
| EIN: 13-1815595 |
|---|
| PN: 003 |
| SCHEDULE H |
COLGATE-PALMOLIVE COMPANY
EMPLOYEES SAVINGS AND INVESTMENT PLAN
SCHEDULE H, LINE 4I - SCHEDULE OF ASSETS (HELD AT END OF YEAR)
SEPARATELY MANAGED ACCOUNT FUNDS
AS OF DECEMBER 31, 2016
(Dollars in thousands, except as indicated)
| (a) | (b) Identity of issuer, borrower, lessor or similar party | (c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value | (e) Current value | |
|---|---|---|---|---|
| SERVICENOW INC. | 14,000 | shares | 1,041 | |
| STARBUCKS CORP | 17,300 | shares | 960 | |
| STATE STREET CORP | 11,700 | shares | 909 | |
| STRYKER CORP | 10,900 | shares | 1,306 | |
| TD AMERITRADE HOLDING CORP | 20,400 | shares | 889 | |
| T-MOBILE US INC. | 8,300 | shares | 477 | |
| TESLA INC. | 7,100 | shares | 1,517 | |
| TRACTOR SUPPLY CO | 11,800 | shares | 895 | |
| UNITEDHEALTH GROUP INC. | 10,900 | shares | 1,744 | |
| VERISIGN INC. | 8,900 | shares | 677 | |
| VERTEX PHARMACEUTICALS INC. | 11,000 | shares | 810 | |
| VISA INC. | 43,200 | shares | 3,370 | |
| WABTEC CORP/DE | 2,700 | shares | 224 | |
| WALGREENS BOOTS ALLIANCE INC. | 15,500 | shares | 1,283 | |
| WORKDAY INC. | 8,500 | shares | 562 | |
| YUM! BRANDS INC. | 7,200 | shares | 456 | |
| ZOETIS INC. | 16,900 | shares | 905 | |
| Total T. Rowe Price Growth Stock Strategy | $ 109,000 | |||
| Total Separately Managed Account Funds - Equity Investments | $ 134,610 | |||
| Total | $ 136,257 | |||
| * | Represents a Party-In-Interest as defined by ERISA |
| EIN: 13-1815595 |
|---|
| PN: 003 |
| SCHEDULE H |
COLGATE-PALMOLIVE COMPANY
EMPLOYEES SAVINGS AND INVESTMENT PLAN
SCHEDULE H, LINE 4I - SCHEDULE OF ASSETS (HELD AT END OF YEAR)
COMMON/COLLECTIVE TRUST FUNDS
AS OF DECEMBER 31, 2016
(Dollars in thousands, except as indicated)
| (a) | (c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value | (e) Current value | |
|---|---|---|---|
| Common/Collective Trust Funds: | |||
| BlackRock Lifepath Index Retirement | 1,347,273 | units | $ 23,865 |
| BlackRock Lifepath Index 2020 | 1,926,756 | units | $ 38,690 |
| BlackRock Lifepath Index 2025 | 2,245,680 | units | $ 47,834 |
| BlackRock Lifepath Index 2030 | 1,927,530 | units | $ 43,034 |
| BlackRock Lifepath Index 2035 | 1,679,451 | units | $ 39,181 |
| BlackRock Lifepath Index 2040 | 1,022,079 | units | $ 24,770 |
| BlackRock Lifepath Index 2045 | 735,445 | units | $ 18,485 |
| BlackRock Lifepath Index 2050 | 380,975 | units | $ 9,892 |
| BlackRock Lifepath Index 2055 | 317,277 | units | $ 5,957 |
| BlackRock Lifepath Index 2060 | 123 | units | $ 1 |
| Total Common/Collective Trust Funds | $ 251,709 | ||
| Plan Total | $ 3,073,626 |
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