CL 11-K 2013
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)
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x | ANNUAL REPORT PURSUANT TO SECTION 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the fiscal year ended December 31, 2013
OR
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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
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A. | Full title of the plan and the address of the plan, if different from that of the issuer named below: |
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COLGATE-PALMOLIVE COMPANY EMPLOYEES SAVINGS AND INVESTMENT PLAN |
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B. | Name of issuer of the securities held pursuant to the plan and the address of its principal executive office: |
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COLGATE-PALMOLIVE COMPANY |
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300 PARK AVENUE, NEW YORK, NY 10022 |
COLGATE-PALMOLIVE COMPANY
EMPLOYEES SAVINGS AND INVESTMENT PLAN
Index to Financial Statements
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Report of Independent Registered Public Accounting Firm | 3 |
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Financial Statements: | |
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Statements of Net Assets Available for Benefits as of December 31, 2013 and 2012 | 4 |
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Statement of Changes in Net Assets Available for Benefits for the year ended December 31, 2013 | 5 |
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Notes to Financial Statements | 6 |
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Signatures | 17 |
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Supplemental Schedule: | |
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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:
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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 the Colgate-Palmolive Company Employees Savings and Investment Plan (the “Plan”) as of December 31, 2013 and 2012, and the related statement of changes in net assets available for benefits for the year ended December 31, 2013. 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. The Plan is not required to have, nor were we engaged to perform an audit of its 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 the Colgate-Palmolive Company Employees Savings and Investment Plan as of December 31, 2013 and 2012, and the changes in net assets available for benefits for the year ended December 31, 2013 in conformity with accounting principles generally accepted in the United States of America.
Our audits were performed for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental schedule of assets (held at end of year) as of December 31, 2013 is presented for purposes of additional analysis and is not a required part of the basic financial statements, but is supplementary information required by the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. This supplemental schedule is the responsibility of the Plan's management. The supplemental schedule has been subjected to the auditing procedures applied in the audits of the basic financial statements and, in our opinion, 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 24, 2014
COLGATE-PALMOLIVE COMPANY
EMPLOYEES SAVINGS AND INVESTMENT PLAN
Statements of Net Assets Available for Benefits
As of December 31, 2013 and 2012
(Dollars in thousands)
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| | 2013 | | 2012 |
Assets | | | | |
Cash | | $ | 2,656 |
| | $ | 6,895 |
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Investments at fair value | | 3,296,725 |
| | 2,748,889 |
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Receivables: | | |
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Employer contributions receivable | | 26 |
| | — |
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Participant contributions receivable | | 132 |
| | 1,528 |
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Notes receivable from participants | | 15,756 |
| | 16,604 |
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Total receivables | | 15,914 |
| | 18,132 |
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Total assets | | 3,315,295 |
| | 2,773,916 |
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Liabilities | | |
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Due to brokers for securities purchased | | 126 |
| | 1,432 |
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Long-term notes payable to Colgate-Palmolive Company | | 33,988 |
| | 41,325 |
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Accrued interest on notes payable | | 978 |
| | 1,195 |
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Total liabilities | | 35,092 |
| | 43,952 |
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Net assets available for benefits at fair value | | 3,280,203 |
| | 2,729,964 |
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Adjustments from fair value to contract value relating to fully benefit-responsive investment contracts | | (7,470 | ) | | (13,068 | ) |
Net assets available for benefits | | $ | 3,272,733 |
| | $ | 2,716,896 |
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The accompanying notes are an integral part of these financial statements.
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COLGATE-PALMOLIVE COMPANY
EMPLOYEES SAVINGS AND INVESTMENT PLAN
Statement of Changes in Net Assets Available for Benefits
For the Year Ended December 31, 2013
(Dollars in thousands)
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Additions | |
Net investment income: | |
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Interest | $ | 4,681 |
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Dividends | 57,327 |
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Appreciation in the fair value of investments, net | 599,378 |
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Interest expense on notes payable | (2,004 | ) |
Net investment income | 659,382 |
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Contributions: | |
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Employer contributions | 9,537 |
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Participant contributions | 46,130 |
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Total contributions | 55,667 |
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Interest income on notes receivable from participants | 578 |
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Total additions | 715,627 |
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Deductions | |
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Administrative expenses | (2,282 | ) |
Distributions to participants | (157,508 | ) |
Total deductions | (159,790 | ) |
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Increase in net assets available for benefits | 555,837 |
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Net assets available for benefits – beginning of year | 2,716,896 |
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Net assets available for benefits – end of year | $ | 3,272,733 |
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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 a leveraged 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. Mercer HR Services 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, 2013, the Plan maintained the following funds: |
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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 securities of medium size and large companies and fixed income securities |
Vanguard Institutional Index Fund (Admiral shares) | Equity securities included in the S&P 500 Index in similar proportion |
American Funds EuroPacific Growth Fund | Primarily equity securities of companies outside the U.S., primarily in Europe and the Asia/Pacific basin |
Western Asset Core Plus Fixed Income Fund | Diversified portfolio of U.S. government, corporate, mortgage and asset-backed fixed-income securities |
Neuberger Berman Genesis Fund | Primarily equity securities of small capitalization companies (total market value of no more than $2 billion at the time of initial investment) |
Vanguard Extended Market Index | Invests in approximately 3,000 equity securities of medium and small size companies, which span many different industries and account for about one-fourth of the market-cap of the U.S. stock market |
T. Rowe Price Growth Stock Fund | Normally invests 80% of assets in the common stocks of a diversified group of growth companies that have the ability to pay increasing dividends through strong cash flow |
Eaton Vance Large Cap Value Fund | Primarily invests in dividend paying value stocks of large capitalization companies, which have market capitalizations equal to or greater than the median capitalization of companies included in the Russell 1000 Value Index |
BlackRock LifePath Funds | Primarily invests in a mix of equity, fixed income and money market funds |
COLGATE-PALMOLIVE COMPANY
EMPLOYEES SAVINGS AND INVESTMENT PLAN
Notes to Financial Statements (continued)
(Dollars in thousands, except as indicated)
Employee Stock Ownership Plan (“ESOP”)
In accordance with the terms of the Plan, on June 19, 1989, the Plan issued $410,030 of long-term notes due through July 2009 bearing an average interest rate of 8.7%. The Plan used the proceeds of the notes to purchase 6,315,149 shares of the Company’s Series B Convertible Preference Stock (“Preference stock”) from the Company. These notes, which were guaranteed by the Company, were repaid in July 2009.
As a result of rules issued by the Internal Revenue Service related to employer stock held in defined contribution plans, the Company issued a notice of redemption with respect to the remaining shares of Preference stock outstanding on December 29, 2010. At the direction of the Company’s ESOP trustee, the shares of Preference stock were converted into 38,483,072 shares of common stock, adjusted for the two-for-one common stock split that occurred during 2013 (the “2013 Stock Split”). For further information regarding the 2013 Stock Split, refer to Note 4, Investments and Fair Value Measurements. Additionally, the Colgate Preferred Stock Fund (Fund D) was renamed the Colgate Employer Common Stock Fund (Fund D).
As a means of extending the benefits of the ESOP to participants over a longer period, the ESOP and the Company entered into a loan agreement in June 2000 under which the Company was permitted to loan up to $300,000 through 2009 to the ESOP with repayment scheduled no later than December 31, 2035. Repayments of principal and interest are funded through future contributions and dividends on stock held by the ESOP, both paid by the Company to the ESOP. The Company did not make any contributions to the ESOP during 2013. The Company has guaranteed minimum funding of $130,000, on a present value basis, in excess of debt service requirements. As of December 31, 2013 and 2012, the ESOP had outstanding borrowings from the Company of $33,988 and $41,325, respectively, bearing an average interest rate of 5.75% and 5.77%, respectively. The fair value of the outstanding notes payable to the Company was estimated at approximately $46 million and $67 million as of December 31, 2013 and 2012, respectively based on current interest rates for debt with similar maturities (Level 2 valuation).
Dividends on stock held by the ESOP 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 Employer Common Stock Fund D shares are released for allocation to participants semi-annually 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, 2013, 19,171,587 common shares (valued at $1,250,179) were released for allocation to participant accounts and the balance of 9,947,548 common shares (valued at $648,680) were available for future allocation to participant accounts. As of December 31, 2012, 19,270,842 common shares (valued at $1,007,287) were released for allocation to participant accounts and the balance of 11,950,454 common shares (valued at $624,650) was available for future allocation to participant accounts (both share amounts are adjusted for the 2013 Stock Split). The ESOP released shares are allocated to fund the employer portion of all the Plan programs in the following manner:
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(1) | Pursuant to the Company’s matching contribution under the Savings Program, |
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(2) | Pursuant to the Basic Retirement Contribution Program**, |
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(3) | Pursuant to the Additional Basic Retirement Contribution Program**, |
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(4) | Pursuant to the Bonus Savings Account Program and the Income Savings Account Program, |
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(5) | Pursuant to the Retiree Insurance Program *** |
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(6) | As Supplemental Contribution Allocations, and |
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(7) | Pursuant to the Success Sharing Program. |
* Beginning with the May 2012 dividends, only those dividends on ESOP released shares not yet allocated to participant accounts were used for these purposes; dividends on ESOP shares allocated to participant accounts were reinvested in shares of stock in Colgate Common Stock Fund B. Prior to this, dividends on ESOP released shares not yet allocated to participant accounts and on ESOP shares allocated to participant accounts were used to repay principal and interest or fund basic and additional basic retirement contributions.
** In 2012, Basic and additional basic retirement contributions were made from ESOP released shares and from dividends on ESOP released shares not yet allocated to participant accounts. In 2013, Basic and additional basic retirement
COLGATE-PALMOLIVE COMPANY
EMPLOYEES SAVINGS AND INVESTMENT PLAN
Notes to Financial Statements (continued)
(Dollars in thousands, except as indicated)
contributions were made only from dividends on ESOP released shares not yet allocated to participant accounts and cash contributions.
*** Under the revised Retirement Program, effective September 1, 2010, the Company no longer makes allocations into a Retiree Insurance Program unless the employee is a member of one of the Hill’s Pet Nutrition, Inc. participating unions.
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 2013 recognized earnings were less than $145.9 were limited to 16% of their recognized earnings, those employees whose 2013 recognized earnings were between $146.0 and $254.9 were limited to 12% of their recognized earnings and those employees whose 2013 recognized earnings equaled or exceeded $255.0 were limited to 8% of their recognized earnings. Participants may 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 $17.5 and $17.0 for 2013 and 2012, respectively. 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 Internal Revenue Code, the maximum allowable catch-up contribution was $5.5 for both 2013 and 2012, 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.
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, collective bargaining agreements, and participation status in the Employees’ Retirement Income Plan. Company matching contributions for employees participating in the Savings Program 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. 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
Effective September 1, 2010 the Company began allocating Basic Retirement Contributions (“BRCs”) and Additional Basic Retirement Contributions (“ABRCs”) equal to 2% up to 7% of employee’s recognized earnings depending upon
COLGATE-PALMOLIVE COMPANY
EMPLOYEES SAVINGS AND INVESTMENT PLAN
Notes to Financial Statements (continued)
(Dollars in thousands, except as indicated)
years of service in lieu of pension credits. Employees who participate in the Employees’ Retirement Income Plan under the pre-July 1, 1989 plan formula and employees of Hill’s Pet Nutrition, Inc. that 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 Funds D and 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 Funds D and 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. See Note 9, Subsequent Events, for discussion on changes to the Company Retirement Contributions Program effective January 1, 2014.
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. To be eligible, an individual generally must be employed by the Company on a full-time basis, be at least 18 years old and be 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. Part-time employees with benefits are also eligible. 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.
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 available to active full-time employees and part-time employees with benefits in the United States, with 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 is designed to provide funds that can be used by employees to purchase health and life insurance upon retirement. Under the Retiree Insurance Program, a Retiree Insurance Account (“RIA”) has been established within the Plan for each eligible employee. Each year, shares from the Colgate Employer Common Stock Fund are allocated to each employee’s RIA. Effective September 1, 2010, the Company no longer makes allocations into an RIA unless the participant is a member of one of the Hill’s Pet Nutrition, Inc. participating unions. Allocations are based upon
COLGATE-PALMOLIVE COMPANY
EMPLOYEES SAVINGS AND INVESTMENT PLAN
Notes to Financial Statements (continued)
(Dollars in thousands, except as indicated)
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.
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 employer account balances are returned to the unallocated pool of Colgate common stock and become available to the Company to pay for administrative expenses incurred by the Plan and/or to reduce future Company contributions. The forfeiture balance as of December 31, 2013 and 2012 totaled $969 and $650, respectively, which will be used to reduce future Company contributions or plan administrative expenses.
Notes Receivable From Participants
Participants who have $1,000**** or more in the Plan may borrow from the total of their fund accounts, a minimum of $500**** up to a maximum equal to the lesser of $50,000**** (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. Loans outstanding at December 31, 2013 had interest rates ranging from 3.3% to 9.5% and maturities through 2028.
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.
**** For purposes of this paragraph, dollar amounts are reported as actual dollars.
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”). Distributions to participants are recorded when paid.
COLGATE-PALMOLIVE COMPANY
EMPLOYEES SAVINGS AND INVESTMENT PLAN
Notes to Financial Statements (continued)
(Dollars in thousands, except as indicated)
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.
Cash and Cash Equivalents
The Plan considers all highly liquid investments with original maturities of three months or less at the time of purchase to be cash equivalents.
Notes Receivable from Participants
Participant loans are stated at cost plus accrued interest. Interest income is recorded on an accrual basis. 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.
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.
The Statements of Net Assets Available for Benefits present both the fair value of the GICs and the adjustment of the fully benefit-responsive GICs from fair value to contract value. The Statement of Changes in Net Assets Available for Benefits is prepared on a contract value basis.
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. Realized gains and losses from security transactions are reported using the average cost method. Dividend income is recorded on the ex-dividend date.
COLGATE-PALMOLIVE COMPANY
EMPLOYEES SAVINGS AND INVESTMENT PLAN
Notes to Financial Statements (continued)
(Dollars in thousands, except as indicated)
Administration
The Plan is administered by the Committee for the benefit of the participants. Administrative expenses are paid by the Plan.
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.
U.S. GAAP requires plan management 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, 2013 and 2012, 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. The plan administrator believes it is no longer subject to income tax examinations for years prior to 2010.
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4. | Investments and Fair Value Measurements |
Investments
As of December 31, 2013 and 2012, the Plan had investments in Colgate-Palmolive Company Common Stock, mutual funds, cash reserve funds, GICs and common/collective trust funds.
On March 7, 2013, the Company’s Board of Directors approved a two-for-one stock split of the Company’s common stock to be effected through a 100% stock dividend (the “2013 Stock Split”). The record date for the 2013 Stock Split was the close of business on April 23, 2013, and the share distribution occurred on May 15, 2013. As a result of the common stock split, shareholders, including the Plan, received one additional share of Colgate common stock, par value $1.00, for each share they held as of the record date. All share amounts of Colgate-Palmolive Common Stock in these Financial Statements and Notes to the Financial Statements are presented on a post-split basis.
The following investments represent 5% or more of the Plan’s net assets as of December 31:
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| | 2013 | | 2012 |
Colgate-Palmolive Company Common Stock, 34,037,903 and 35,680,436 shares, in 2013 and 2012, respectively | | $ | 2,219,612 |
| | $ | 1,865,016 |
|
During 2013, the Plan’s investments (including gains and losses on investments purchased and sold, as well as held during the year) appreciated (depreciated) in value as follows:
|
| | | |
| |
Colgate-Palmolive Company Common Stock | $ | 450,158 |
|
Common/collective trust funds | 13,037 |
|
Investments in registered investment companies | 136,183 |
|
Total net appreciation (depreciation) in the fair value of investments | $ | 599,378 |
|
The GICs carry a crediting interest rate established at inception and reset periodically (typically quarterly) to approximate the interest earnings of the underlying investments, subject to certain minimums. For 2013, the average yield and the
COLGATE-PALMOLIVE COMPANY
EMPLOYEES SAVINGS AND INVESTMENT PLAN
Notes to Financial Statements (continued)
(Dollars in thousands, except as indicated)
average crediting interest rate on the investment contracts were 1.4% and 2.4%, respectively. For 2012, the average yield and the average crediting interest rate on the investment contracts were 1.1% and 2.8%, respectively.
The contract value of a GIC is the relevant measurement for the portion of the net assets available for benefits attributable to a certain investment contract. The contract values of the GICs were $155,288 and $150,680 at December 31, 2013 and 2012, respectively. The fair values of the GICs were $162,758 and $163,748 at December 31, 2013 and 2012, respectively. In accordance with the provisions of the Plan, issuers of GICs must have a credit rating of AA- or better at the time they were hired under the fund manager’s investment rating system. Accordingly, there are no reserves against contract value for credit risk of the contract issuer or otherwise.
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 the Plan assets measured at fair value 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.
Guaranteed investment contracts: Valued at the total of the fair value of the underlying securities.
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.
The following table presents the Plan’s fair value hierarchy for those investments measured at fair value at December 31, 2013:
COLGATE-PALMOLIVE COMPANY
EMPLOYEES SAVINGS AND INVESTMENT PLAN
Notes to Financial Statements (continued)
(Dollars in thousands, except as indicated)
|
| | | | | | | | | | | | |
| | Level 1 | | Level 2 | | Total |
Colgate-Palmolive Company Common Stock | | $ | 2,219,612 |
| | $ | — |
| | $ | 2,219,612 |
|
Mutual funds: | | |
| | |
| | |
|
Balanced funds | | 130,034 |
| | — |
| | 130,034 |
|
Equity index funds | | 182,945 |
| | — |
| | 182,945 |
|
International equity funds | | 107,135 |
| | — |
| | 107,135 |
|
Equity funds | | 245,675 |
| | — |
| | 245,675 |
|
Fixed income funds | | 81,294 |
| | — |
| | 81,294 |
|
Cash reserve funds | | 37,192 |
| | — |
| | 37,192 |
|
Guaranteed investment contracts: | | | | | |
|
|
Treasury and agency bonds | | — |
| | 82,233 |
| | 82,233 |
|
Corporate bonds | | — |
| | 41,012 |
| | 41,012 |
|
Commercial and residential mortgage-backed securities | | — |
| | 27,924 |
| | 27,924 |
|
Asset-backed securities | | — |
| | 3,267 |
| | 3,267 |
|
Other | | — |
| | 8,322 |
| | 8,322 |
|
Common/Collective trust funds | | — |
| | 130,080 |
| | 130,080 |
|
Total Investments at Fair Value | | $ | 3,003,887 |
| | $ | 292,838 |
| | $ | 3,296,725 |
|
The following table presents the Plan’s fair value hierarchy for those investments measured at fair value at December 31, 2012:
|
| | | | | | | | | | | | |
| | Level 1 | | Level 2 | | Total |
Colgate-Palmolive Company Common Stock | | $ | 1,865,016 |
| | $ | — |
| | $ | 1,865,016 |
|
Mutual funds: | | |
| | |
| |
|
|
Balanced funds | | 106,369 |
| | — |
| | 106,369 |
|
Equity index funds | | 81,547 |
| | — |
| | 81,547 |
|
International equity funds | | 86,594 |
| | — |
| | 86,594 |
|
Equity funds | | 217,637 |
| | — |
| | 217,637 |
|
Fixed income funds | | 101,529 |
| | — |
| | 101,529 |
|
Cash reserve funds | | 38,271 |
| | — |
| | 38,271 |
|
Guaranteed investment contracts: | | | | | | |
Treasury and agency bonds | | — |
| | 72,533 |
| | 72,533 |
|
Corporate bonds | | — |
| | 48,413 |
| | 48,413 |
|
Commercial and residential mortgage-backed securities | | — |
| | 33,360 |
| | 33,360 |
|
Asset-backed securities | | — |
| | 4,924 |
| | 4,924 |
|
Other | | — |
| | 4,518 |
| | 4,518 |
|
Common/Collective trust funds | | — |
| | 88,178 |
| | 88,178 |
|
Total Investments at Fair Value | | $ | 2,496,963 |
| | $ | 251,926 |
| | $ | 2,748,889 |
|
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, |
| | 2013 | | 2012 |
Assets: | | | | |
Cash | | $ | 2,656 |
| | $ | 6,895 |
|
Fixed income liquid reserve fund | | 2,266 |
| | 2,107 |
|
Colgate-Palmolive Company Common Stock | | 1,931,596 |
| | 1,660,436 |
|
Total assets | | 1,936,518 |
| | 1,669,438 |
|
Liabilities: | | |
| | |
|
Long-term notes payable to Colgate-Palmolive Company | | 33,988 |
| | 41,325 |
|
Accrued interest on current and long-term notes | | 978 |
| | 1,195 |
|
Total liabilities | | 34,966 |
| | 42,520 |
|
Net assets available for benefits | | $ | 1,901,552 |
| | $ | 1,626,918 |
|
|
| | | |
| Year Ended December 31, 2013 |
Changes in net assets available for benefits: | |
Employer contributions | $ | — |
|
Dividends and interest, net of fees | 38,722 |
|
Net appreciation (depreciation) in the fair value of investments | 396,907 |
|
Transfers to other funds | (67,071 | ) |
Interest expense on current and long-term notes | (2,004 | ) |
Distributions to participants | (91,920 | ) |
Increase (decrease) in net assets available for benefits | $ | 274,634 |
|
COLGATE-PALMOLIVE COMPANY
EMPLOYEES SAVINGS AND INVESTMENT PLAN
Notes to Financial Statements (continued)
(Dollars in thousands, except as indicated)
| |
6. | Reconciliation to Form 5500 |
At December 31, 2013 and 2012, benefit distributions that have been processed and approved for payment as of such date but not yet paid of $123 and $283, respectively, are not reflected in the financial statements. For reporting to the Department of Labor, these amounts are reported as a liability on Form 5500.
| |
7. | Risks and Uncertainties |
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 at least reasonably possible that changes in the value of investment securities will 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.
| |
8. | Related Party Transactions |
As of December 31, 2013 and 2012, 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, 2013, the Plan had $14,427 and $9,102 invested in the Employee Benefit Temporary Investment FD Fund and Dreyfus Treasury Prime Fund, respectively. As of December 31, 2012, the Plan had $11,478 and $514 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, 2013 were $434.
Effective January 1, 2014, the Company changed the way it provides retirement benefits to substantially all of its U.S-based employees participating in the Employees’ Retirement Income Plan. The Company now provides future retirement benefits for these employees through the Plan, rather than providing certain retirement benefit accruals under the Employees’ Retirement Income Plan. As a result of these changes, beginning in 2014, the Company increased the contributions that these employees receive under the Plan. All eligible employees, including employees who participated in the Employees’ Retirement Income Plan under the pre-July 1, 1989 plan formula, will now receive basic and additional retirement contributions under the Plan. Basic and additional retirement contributions to the Plan are between 4% and 15% of recognized earnings depending on years of service and prior eligibility status in the Employees’ Retirement Income Plan. In addition, the amount of Company matching contributions made to the Plan increased for certain employees and is generally 50% to 75% of employee contributions up to 6% of recognized earnings depending on years of service.
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 24, 2014 | /s/ Dennis J. Hickey |
| Dennis J. Hickey |
| Chief Financial Officer |
| Colgate-Palmolive Company |
|
| |
| |
Date: June 24, 2014 | /s/ Victoria L. Dolan |
| Victoria L. Dolan |
| Vice President and Corporate Controller |
| Colgate-Palmolive Company |
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, 2013
(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 |
| | | | | | |
| | Participant loans, maturities ranging from 1 to 15 years | | 3.3% - 9.5% | | $ | 15,756 |
|
| | | | | | |
|
| | Total Participant Loans | | | | $ | 15,756 |
|
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, 2013
(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 | | 0.23 | % | $ | 16,122 |
| | $ | 16,122 |
|
* | | Dreyfus Treasury Prime Fund | | 0.00 | % | 9,102 |
| | 9,102 |
|
| | BHP Billiton Finance USA LTD | | 5.50 | % | 127 |
| | 128 |
|
| | BNP Paribas SA | | Var Rate |
| 250 |
| | 251 |
|
| | Bank of New York Mellon Corp | | 1.70 | % | 354 |
| | 355 |
|
| | Credit Agricole SA / London | | 2.63 | % | 300 |
| | 304 |
|
| | Credit Suisse / New York | | 5.50 | % | 127 |
| | 128 |
|
| | Danaher Corp | | 1.30 | % | 151 |
| | 151 |
|
| | John Deere Capital Corp | | 1.25 | % | 252 |
| | 253 |
|
| | Federal Home Ln Bk Cons BD | | 0.25 | % | 750 |
| | 750 |
|
| | Federal Home Ln Mtg Corp | | 2.50 | % | 207 |
| | 210 |
|
| | General Electric Capital Corp | | 2.10 | % | 600 |
| | 606 |
|
| | Google Inc | | 1.25 | % | 226 |
| | 226 |
|
| | JPMorgan Chase & Co | | 4.65 | % | 254 |
| | 255 |
|
| | Lloyds Bank PLC | | Var Rate |
| 150 |
| | 151 |
|
| | Philip Morris International | | 6.88 | % | 127 |
| | 129 |
|
| | SSIF Nevada LP | | Var Rate |
| 200 |
| | 201 |
|
| | Sumitomo Mitsui Banking | | 1.90 | % | 202 |
| | 203 |
|
| | Svenska Handelsbanken AB | | Var Rate |
| 500 |
| | 500 |
|
| | US Bancorp | | 4.20 | % | 381 |
| | 382 |
|
| | Wal-Mart Stores Inc | | 1.63 | % | 201 |
| | 201 |
|
| | Wells Fargo & Co | | 3.75 | % | 231 |
| | 233 |
|
| | Total Cash Equivalents | | |
| | $ | 30,841 |
|
| | | | | | | |
| | Guaranteed Investment Contracts: | | | | | |
| | UNITED STATES TREASURY NOTE | | 1.38 | % | 09/30/2018 |
| | $ | 7,731 |
|
| | UNITED STATES TREASURY NOTE | | 0.25 | % | 04/15/2016 |
| | 28,365 |
|
| | UNITED STATES TREASURY NOTE | | 1.25 | % | 10/31/2018 |
| | 1,474 |
|
| | UNITED STATES TREASURY NOTE | | 0.25 | % | 10/31/2015 |
| | 22,977 |
|
| | UNITED STATES TREASURY NOTE | | 1.25 | % | 11/30/2018 |
| | 2,939 |
|
| | UNITED STATES TREASURY BILL | | 0.00 | % | 03/27/2014 |
| | 6,749 |
|
| | UNITED STATES TREASURY NOTE | | 0.63 | % | 11/15/2016 |
| | 299 |
|
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, 2013
(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 |
| | CALIFORNIA STATE UNIVERSITY | | 5.00 | % | 11/01/2037 |
| | 321 |
|
| | NEW JERSEY TRANSPORTATION TRUST | | 5.00 | % | 06/15/2036 |
| | 266 |
|
| | WASHINGTON ST FOR ISSUES DTD PRI | | 5.00 | % | 08/01/2033 |
| | 271 |
|
| | WASHINGTON ST FOR ISSUES DTD PRI | | 5.00 | % | 08/01/2036 |
| | 268 |
|
| | NEW YORK N Y FOR PRIOR ISSUES DT | | 5.00 | % | 08/01/2025 |
| | 283 |
|
| | NEW YORK N Y FOR PRIOR ISSUES DT | | 5.00 | % | 08/01/2025 |
| | 283 |
|
| | STATE OF CALIFORNIA | | 5.00 | % | 04/01/2043 |
| | 256 |
|
| | INTERNATIONAL FINANCE CORPORATION | | 0.88 | % | 06/15/2018 |
| | 1,163 |
|
| | FEDERAL HOME LOAN MORTGAGE CORP | | 1.25 | % | 10/02/2019 |
| | 190 |
|
| | FEDERAL FARM CREDIT BANK SYSTEM | | 5.05 | % | 06/22/2018 |
| | 1,934 |
|
| | FEDERAL HOME LOAN MORTGAGE CORP | | 2.38 | % | 01/13/2022 |
| | 599 |
|
| | FEDERAL HOME LOAN BANK SYSTEM | | 1.88 | % | 03/13/2020 |
| | 292 |
|
| | FEDERAL NATIONAL MORTGAGE ASSOCI | | 1.25 | % | 09/28/2016 |
| | 3,662 |
|
| | DALLAS TEXAS INDEPENDENT SCHO | | 6.45 | % | 02/15/2035 |
| | 455 |
|
| | LOUISIANA LOC GOVT ENVIRONMENTAL | | 1.52 | % | 02/01/2018 |
| | 326 |
|
| | VIRGINIA COMMONWEALTH TRANS BRD | | 5.35 | % | 05/15/2035 |
| | 468 |
|
| | COMMONWEALTH OF PENNSYLVANIA | | 5.85 | % | 07/15/2030 |
| | 662 |
|
| | WELLS FARGO & COMPANY | | 4.60 | % | 04/01/2021 |
| | 578 |
|
| | U.S. BANCORP | | 3.00 | % | 03/15/2022 |
| | 464 |
|
| | JPMORGAN CHASE & CO. | | 4.50 | % | 01/24/2022 |
| | 1,725 |
|
| | UNION BANK, N.A. | | 2.13 | % | 06/16/2017 |
| | 659 |
|
| | ERP OPERATING LIMITED PARTNERSH | | 4.63 | % | 12/15/2021 |
| | 342 |
|
| | BB&T CORPORATION | | 1.60 | % | 08/15/2017 |
| | 299 |
|
| | CAPITAL ONE FINANCIAL CORPORATION | | 4.75 | % | 07/15/2021 |
| | 309 |
|
| | BANK OF AMERICA CORPORATION | | 2.60 | % | 01/15/2019 |
| | 151 |
|
| | MORGAN STANLEY | | 6.25 | % | 08/28/2017 |
| | 233 |
|
| | JOHN DEERE CAPITAL CORPORATION | | 3.15 | % | 10/15/2021 |
| | 645 |
|
| | JPMORGAN CHASE & CO. | | 4.40 | % | 07/22/2020 |
| | 263 |
|
| | SANTANDER US DEBT, S.A. | | 3.72 | % | 01/20/2015 |
| | 104 |
|
| | DCT INDUSTRIAL TRUST INC. | | 4.50 | % | 10/15/2023 |
| | 197 |
|
| | MARKEL CORPORATION | | 3.63 | % | 03/30/2023 |
| | 189 |
|
| | BANK OF AMERICA, N.A. | | 5.30 | % | 03/15/2017 |
| | 1,599 |
|
| | SUNTRUST BANK | | 7.25 | % | 03/15/2018 |
| | 295 |
|
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, 2013
(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 |
| | CUBESMART, L.P. | | 4.80 | % | 07/15/2022 |
| | 419 |
|
| | GENWORTH HOLDINGS, INC. | | 7.20 | % | 02/15/2021 |
| | 89 |
|
| | SUNTRUST BANK | | 2.75 | % | 05/01/2023 |
| | 337 |
|
| | ROYAL BANK OF SCOTLAND GROUP PLC | | 2.55 | % | 09/18/2015 |
| | 335 |
|
| | WELLS FARGO & COMPANY | | 3.50 | % | 03/08/2022 |
| | 835 |
|
| | FIRST HORIZON NATIONAL CORPORATION | | 5.38 | % | 12/15/2015 |
| | 372 |
|
| | HEALTH CARE REIT, INC. | | 4.13 | % | 04/01/2019 |
| | 190 |
|
| | SANTANDER HOLDINGS USA INC | | 3.45 | % | 08/27/2018 |
| | 77 |
|
| | SANTANDER HOLDINGS USA INC | | 3.00 | % | 09/24/2015 |
| | 129 |
|
| | THE ROYAL BANK OF SCOTLAND | | 9.50 | % | 03/16/2022 |
| | 180 |
|
| | BPCE SA | | 5.70 | % | 10/22/2023 |
| | 208 |
|
| | SIMON PROPERTY GROUP, L.P. | | 4.13 | % | 12/01/2021 |
| | 817 |
|
| | THE HARTFORD FINANCIAL SERVICES GRO | | 6.00 | % | 01/15/2019 |
| | 123 |
|
| | PNC BANK, NATIONAL ASSOCIATION | | 6.00 | % | 12/07/2017 |
| | 571 |
|
| | HCP, INC. | | 4.25 | % | 11/15/2023 |
| | 394 |
|
| | SANTANDER HOLDINGS USA INC | | 4.63 | % | 04/19/2016 |
| | 167 |
|
| | KEYCORP | | 5.10 | % | 03/24/2021 |
| | 264 |
|
| | CBL & ASSOCIATES LIMITED PART | | 5.25 | % | 12/01/2023 |
| | 201 |
|
| | INTESA SANPAOLO SPA | | 3.13 | % | 01/15/2016 |
| | 311 |
|
| | GENWORTH HOLDINGS, INC. | | 8.63 | % | 12/15/2016 |
| | 119 |
|
| | VENTAS REALTY, LIMITED PARTNER | | 2.70 | % | 04/01/2020 |
| | 337 |
|
| | GENWORTH HOLDINGS, INC. | | 6.52 | % | 05/22/2018 |
| | 172 |
|
| | HEALTH CARE REIT, INC. | | 4.70 | % | 09/15/2017 |
| | 327 |
|
| | CITIGROUP INC. | | 4.50 | % | 01/14/2022 |
| | 858 |
|
| | PROTECTIVE LIFE CORPORATION | | 7.38 | % | 10/15/2019 |
| | 652 |
|
| | GENWORTH HOLDINGS, INC. | | 7.63 | % | 09/24/2021 |
| | 423 |
|
| | AMERICAN INTERNATIONAL GROUP, I | | 4.88 | % | 06/01/2022 |
| | 565 |
|
| | BANK OF AMERICA CORPORATION | | 6.00 | % | 09/01/2017 |
| | 116 |
|
| | GENERAL ELECTRIC CAPITAL CORPORATION | | 5.30 | % | 02/11/2021 |
| | 957 |
|
| | MORGAN STANLEY | | 5.50 | % | 07/28/2021 |
| | 1,166 |
|
| | ABBEY NATIONAL TREASURY SERVICES | | 3.05 | % | 08/23/2018 |
| | 416 |
|
| | U.S. BANCORP | | 2.95 | % | 07/15/2022 |
| | 375 |
|
| | AMERICAN EXPRESS CREDIT CORPORATION | | 2.38 | % | 03/24/2017 |
| | 310 |
|
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, 2013
(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 |
| | DUKE ENERGY PROGRESS, INC | | 5.30 | % | 01/15/2019 |
| | 220 |
|
| | ENTERPRISE PRODUCTS OPERATING LL | | 5.25 | % | 01/31/2020 |
| | 568 |
|
| | NEXTERA ENERGY CAPITAL HOLDINGS, IN | | 6.00 | % | 03/01/2019 |
| | 270 |
|
| | BUCKEYE PARTNERS, L.P. | | 4.15 | % | 07/01/2023 |
| | 196 |
|
| | ENBRIDGE ENERGY PARTNERS, L.P. | | 9.88 | % | 03/01/2019 |
| | 577 |
|
| | APPALACHIAN POWER COMPANY | | 4.60 | % | 03/30/2021 |
| | 679 |
|
| | NEVADA POWER COMPANY | | 6.50 | % | 05/15/2018 |
| | 229 |
|
| | WISCONSIN POWER AND LIGHT COMPANY | | 5.00 | % | 07/15/2019 |
| | 856 |
|
| | AT&T INC. | | 2.63 | % | 12/01/2022 |
| | 202 |
|
| | PEPSICO, INC. | | 2.75 | % | 03/01/2023 |
| | 606 |
|
| | COVIDIEN INTERNATIONAL FINANCE S. | | 2.80 | % | 06/15/2015 |
| | 773 |
|
| | NIKE, INC. | | 2.25 | % | 05/01/2023 |
| | 588 |
|
| | NBCUNIVERSAL MEDIA, LLC | | 2.88 | % | 01/15/2023 |
| | 118 |
|
| | VERIZON COMMUNICATIONS INC. | | 5.15 | % | 09/15/2023 |
| | 949 |
|
| | ERAC USA FINANCE LLC | | 5.25 | % | 10/01/2020 |
| | 298 |
|
| | BP CAPITAL MARKETS P.L.C. | | 2.25 | % | 11/01/2016 |
| | 472 |
|
| | FORD MOTOR CREDIT COMPANY LLC | | 5.88 | % | 08/02/2021 |
| | 1,303 |
|
| | VERIZON COMMUNICATIONS INC. | | 3.65 | % | 09/14/2018 |
| | 669 |
|
| | BURLINGTON NORTHERN SANTA FE, LL | | 3.00 | % | 03/15/2023 |
| | 187 |
|
| | WALGREEN CO. | | 3.10 | % | 09/15/2022 |
| | 165 |
|
| | VERIZON COMMUNICATIONS INC. | | 4.50 | % | 09/15/2020 |
| | 540 |
|
| | CENOVUS ENERGY INC. | | 3.00 | % | 08/15/2022 |
| | 473 |
|
| | AUTOZONE, INC. | | 4.00 | % | 11/15/2020 |
| | 512 |
|
| | AGILENT TECHNOLOGIES, INC. | | 3.20 | % | 10/01/2022 |
| | 364 |
|
| | HEWLETT-PACKARD COMPANY | | 4.65 | % | 12/09/2021 |
| | 1,003 |
|
| | AVON PRODUCTS, INC. | | 4.60 | % | 03/15/2020 |
| | 405 |
|
| | DELTA AIR LINES, INC. | | 5.30 | % | 10/15/2020 |
| | 215 |
|
| | PENSKE TRUCK LEASING CO., L. | | 2.50 | % | 03/15/2016 |
| | 592 |
|
| | AMERICAN TOWER CORPORATION | | 3.50 | % | 01/31/2023 |
| | 370 |
|
| | NBCUNIVERSAL MEDIA, LLC | | 4.38 | % | 04/01/2021 |
| | 508 |
|
| | HEWLETT-PACKARD COMPANY | | 4.30 | % | 06/01/2021 |
| | 177 |
|
| | EASTMAN CHEMICAL COMPANY | | 3.60 | % | 08/15/2022 |
| | 316 |
|
| | VERIZON COMMUNICATIONS INC. | | 2.45 | % | 11/01/2022 |
| | 986 |
|
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, 2013
(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 |
| | MDC HOLDINGS INC | | 5.63 | % | 02/01/2020 |
| | 424 |
|
| | LYB INTERNATIONAL FINANCE B.V. | | 4.00 | % | 07/15/2023 |
| | 126 |
|
| | LIFE TECHNOLOGIES CORPORATION | | 5.00 | % | 01/15/2021 |
| | 389 |
|
| | TRANSOCEAN INC | | 6.50 | % | 11/15/2020 |
| | 487 |
|
| | SHELL INTERNATIONAL FINANCE B.V. | | 3.10 | % | 06/28/2015 |
| | 454 |
|
| | TELEFONICA EMISIONES, S.A.U. | | 5.46 | % | 02/16/2021 |
| | 189 |
|
| | TOYOTA MOTOR CREDIT CORPORATION | | 2.00 | % | 09/15/2016 |
| | 486 |
|
| | NOVARTIS CAPITAL CORPORATION | | 2.40 | % | 09/21/2022 |
| | 621 |
|
| | MCKESSON CORPORATION | | 2.85 | % | 03/15/2023 |
| | 183 |
|
| | FEDERAL HOME LOAN MOR FB 2006-3208 FRN | | 0.57 | % | 08/15/2036 |
| | 1,360 |
|
| | FHLMC 781013 | | 2.22 | % | 11/01/2033 |
| | 123 |
|
| | FNCL AL4316 | | 7.00 | % | 03/01/2039 |
| | 648 |
|
| | FGLMC G07505 | | 7.00 | % | 02/01/2039 |
| | 1,079 |
|
| | CREDIT SUISSE MORTGAGE A1A 2007-C2 FRN | | 5.53 | % | 01/15/2049 |
| | 1,850 |
|
| | MORGAN STANLEY CAPITAL A4 2006-HQ9 FRN | | 5.73 | % | 07/12/2044 |
| | 1,275 |
|
| | FHLMC 1B0118 | | 2.53 | % | 08/01/2031 |
| | 12 |
|
| | FNCI MA0577 | | 3.50 | % | 11/01/2020 |
| | 22 |
|
| | FEDERAL NATIONAL MORTG 2A 2012-M12 FRN | | 2.71 | % | 09/25/2022 |
| | 570 |
|
| | MERRILL LYNCH/COUNTR A1A 2006-4 | | 5.17 | % | 12/12/2049 |
| | 1,200 |
|
| | COMMERCIAL MORTGAGE A1A 2006-C8 | | 5.29 | % | 12/10/2046 |
| | 790 |
|
| | FNCN MA0793 | | 3.50 | % | 07/01/2021 |
| | 478 |
|
| | FNMA 756359 | | 2.74 | % | 12/01/2033 |
| | 80 |
|
| | FEDERAL NATIONAL M ASQ3 2012-M8 | | 1.80 | % | 12/25/2019 |
| | 587 |
|
| | FEDERAL NATIONAL MOR A2 2012-M8 | | 2.35 | % | 05/25/2022 |
| | 465 |
|
| | BANC OF AMERICA COMMERC A1A 2006-2 FRN | | 5.74 | % | 05/10/2045 |
| | 430 |
|
| | MASTR ASSET SECURITIZA 4A2 2003-4 | | 5.50 | % | 05/25/2033 |
| | 161 |
|
| | FHLMC 847589 | | 2.55 | % | 09/01/2035 |
| | 174 |
|
| | FNCN MA0740 | | 3.50 | % | 05/01/2021 |
| | 27 |
|
| | FNCI AL3757 | | 5.00 | % | 03/01/2027 |
| | 91 |
|
| | FGCI J13715 | | 3.50 | % | 12/01/2020 |
| | 5 |
|
| | FGCI J24051 | | 3.00 | % | 06/01/2023 |
| | 10 |
|
| | FNMA 754671 | | 1.93 | % | 10/01/2033 |
| | 137 |
|
| | FGCI J17539 | | 3.00 | % | 12/01/2021 |
| | 6 |
|
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, 2013
(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 |
| | FGCI G14232 | | 3.00 | % | 09/01/2021 |
| | 19 |
|
| | FNMA 748645 | | 1.93 | % | 09/01/2033 |
| | 205 |
|
| | FGLMC G06255 | | 4.50 | % | 02/01/2041 |
| | 330 |
|
| | FNCI AE2033 | | 3.50 | % | 09/01/2020 |
| | 36 |
|
| | COMMERCIAL MORTGAGE A4 | | 5.31 | % | 12/10/2046 |
| | 2,750 |
|
| | FNMA MA0654 | | 3.50 | % | 02/01/2021 |
| | 43 |
|
| | FNMA 805480 | | 5.50 | % | 12/01/2034 |
| | 1,220 |
|
| | CS FIRST BOSTON MORTGA 5A1 2005-3 | | 5.50 | % | 07/25/2020 |
| | 217 |
|
| | FEDERAL NATIONAL MO ASQ2 2012-M8 | | 1.52 | % | 12/25/2019 |
| | 497 |
|
| | WACHOVIA BANK COMMERC A1A 2006-C26 FRN | | 6.01 | % | 06/15/2045 |
| | 1,290 |
|
| | FNCI MA0703 | | 3.50 | % | 04/01/2021 |
| | 13 |
|
| | FNCI AH2090 | | 3.50 | % | 12/01/2020 |
| | 22 |
|
| | FNMA 758612 | | 1.93 | % | 11/01/2033 |
| | 152 |
|
| | FGCI G14728 | | 3.50 | % | 11/01/2021 |
| | 78 |
|
| | FNMA AL2293 | | 4.38 | % | 06/01/2021 |
| | 537 |
|
| | FGCI J13428 | | 3.50 | % | 11/01/2020 |
| | 9 |
|
| | FEDERAL HOME LOAN MO DA 2010-3777 | | 3.50 | % | 10/15/2024 |
| | 300 |
|
| | WAMU 2004AR14 A1 | | 2.41 | % | 01/25/2035 |
| | 123 |
|
| | CITIGROUP/DEUTSCHE A1S 2006-CD3 | | 5.61 | % | 10/15/2048 |
| | 1,083 |
|
| | FEDERAL HOME LOAN A2 2012-K710 | | 1.88 | % | 05/25/2019 |
| | 1,277 |
|
| | FEDERAL NATIONAL MORTG 1A2 2012-M4 FRN | | 2.98 | % | 04/25/2022 |
| | 787 |
|
| | FNMA 889060 | | 6.00 | % | 01/01/2038 |
| | 395 |
|
| | FNMA 889061 | | 6.00 | % | 01/01/2038 |
| | 378 |
|
| | FNCN AB1827 | | 3.50 | % | 11/01/2020 |
| | 10 |
|
| | FEDERAL NATIONAL MORTGAG B 2012-111 | | 7.00 | % | 10/25/2042 |
| | 316 |
|
| | FEDERAL HOME LOAN A2 2012-K709 | | 2.09 | % | 03/25/2019 |
| | 1,095 |
|
| | FGLMC G06348 | | 4.50 | % | 02/01/2041 |
| | 268 |
|
| | LB-UBS COMMERCIAL M A1A 2006-C7 | | 5.34 | % | 11/15/2038 |
| | 1,579 |
|
| | FHLMC G05532 | | 5.50 | % | 08/01/2035 |
| | 1,315 |
|
| | HSBC BANK PLC | | 1.63 | % | 07/07/2015 |
| | 406 |
|
| | FORD CREDIT FLOOR PLAN A1 2011-1 | | 2.12 | % | 02/15/2016 |
| | 838 |
|
| | ALLY MASTER OWNER TRUS A2 2011-3 | | 1.81 | % | 05/15/2016 |
| | 754 |
|
| | ALLY MASTER OWNER TRUS A2 2011-1 | | 2.15 | % | 01/15/2016 |
| | 1,267 |
|
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, 2013
(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 |
| | CENTERPOINT ENERGY RE A1 2012-1 | | 0.90 | % | 04/15/2018 |
| | 408 |
|
| | AMERICA MOVIL SOCIEDAD ANONIMA | | 2.38 | % | 09/08/2016 |
| | 243 |
|
* | | EB TEMPORARY INVESTMENT FUND | | 0.00 | % | | | 8,076 |
|
| | Total Guaranteed Investment Contracts | | | | | $ | 162,758 |
|
| | | | | | | |
| | Total Fund A | | | | | $ | 193,599 |
|
| | | | | | | |
| | | | | | | |
* | | 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, 2013
(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 | | $ | 4,084 |
| | $ | 4,084 |
|
| | | | | | |
* | | Colgate-Palmolive Co. Common Stock | | 4,416,747 | shares | | 288,016 |
|
| | | | | | |
| | Total | | |
| | $ | 292,100 |
|
| | | | | | |
| | | | | | |
* | | 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, 2013
(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 | | $2,232 | | $ | 2,232 |
| | $ | 2,232 |
|
| | | | | | | | |
* | | Colgate-Palmolive Co. Common Stock | | 29,119,135 | shares | | 118,308 |
| | 1,898,859 |
|
| | | | | | | | |
| | Total | | |
| | $ | 120,540 |
| | $ | 1,901,091 |
|
| | | | | | | | |
| | | | | | | | |
* | | 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, 2013
(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 | | 502,021 | shares | | 557 |
| | 32,737 |
|
| | | | | | | | |
| | Total | | | | $ | 592 |
| | $ | 32,772 |
|
| | | | | | | | |
| | | | | | | | |
* | | 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, 2013
(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 |
| | | | | | |
| | Mutual Funds: | | | | |
| | | | | | |
| | Vanguard Wellington Fund | | 1,984,344 | units | | $ | 130,034 |
|
| | | | | | |
| | Total | | |
| | $ | 130,034 |
|
|
| |
| 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, 2013
(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 |
| | | | | | |
| | Mutual Funds: | | | | |
| | | | | | |
| | Vanguard Institutional Index Fund (Admiral shares) | | 675,673 | units | | $ | 114,378 |
|
| | | | | | |
| | Total | | |
| | $ | 114,378 |
|
|
| |
| 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, 2013
(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 |
| | | | | | |
| | Mutual Funds: | | | | |
| | | | | | |
| | American Funds EuroPacific Growth Fund | | 2,185,094 | units | | $ | 107,135 |
|
| | | | | | |
| | Total | | |
| | $ | 107,135 |
|
|
| |
| 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)
WESTERN ASSET CORE PLUS FIXED INCOME FUND
AS OF DECEMBER 31, 2013
(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 |
| | | | | | |
| | Mutual Funds: | | | | |
| | | | | | |
| | Western Asset Core Plus Fixed Income Fund | | 7,264,913 | units | | $ | 81,294 |
|
| | | | | | |
| | Total | | |
| | $ | 81,294 |
|
|
| |
| 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, 2013
(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 |
| | | | | | |
| | Mutual Funds: | | | | |
| | | | | | |
| | Neuberger Berman Genesis Fund | | 2,071,306 | units | | $ | 128,214 |
|
| | | | | | |
| | Total | | |
| | $ | 128,214 |
|
|
| |
| 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, 2013
(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 |
| | | | | | |
| | Mutual Funds: | | | | |
| | | | | | |
| | Vanguard Extended Market Index | | 1,092,706 | units | | $ | 68,567 |
|
| | | | | | |
| | Total | | |
| | $ | 68,567 |
|
|
| |
| 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)
T. ROWE PRICE GROWTH STOCK FUND
AS OF DECEMBER 31, 2013
(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 |
| | | | | | |
| | Mutual Funds: | | | | |
| | | | | | |
| | T. Rowe Price Growth Stock Fund | | 1,728,399 | units | | $ | 90,862 |
|
| | | | | | |
| | Total | | |
| | $ | 90,862 |
|
|
| |
| 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)
EATON VANCE LARGE CAP VALUE FUND
AS OF DECEMBER 31, 2013
(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 |
| | | | | | |
| | Mutual Funds: | | | | |
| | | | | | |
| | Eaton Vance Large Cap Value Fund | | 1,109,697 | units | | $ | 26,599 |
|
| | | | | | |
| | Total | | |
| | $ | 26,599 |
|
|
| |
| 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)
BLACKROCK INDEX FUNDS
AS OF DECEMBER 31, 2013
(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 |
| | | | | | |
| | Common/Collective Trust Funds: | | |
| | |
|
| | BlackRock Lifepath Index Retirement | | 426,313 | units | | $ | 6,832 |
|
| | BlackRock Lifepath Index 2015 | | 905,469 | units | | 15,403 |
|
| | BlackRock Lifepath Index 2020 | | 1,308,547 | units | | 23,615 |
|
| | BlackRock Lifepath Index 2025 | | 1,115,203 | units | | 21,210 |
|
| | BlackRock Lifepath Index 2030 | | 1,020,688 | units | | 20,243 |
|
| | BlackRock Lifepath Index 2035 | | 814,965 | units | | 16,808 |
|
| | BlackRock Lifepath Index 2040 | | 542,682 | units | | 11,590 |
|
| | BlackRock Lifepath Index 2045 | | 358,298 | units | | 7,919 |
|
| | BlackRock Lifepath Index 2050 | | 134,845 | units | | 3,074 |
|
| | BlackRock Lifepath Index 2055 | | 205,539 | units | | 3,386 |
|
| | Total Common/Collective Trust Funds | | |
| | $ | 130,080 |
|
| | Plan Total | | |
| | $ | 3,312,481 |
|