Summary
Colgate-Palmolive Company (CL) filed an 8-K report on October 24, 2013, primarily to announce its third-quarter 2013 earnings and detail a change in its segment reporting structure. The earnings press release, attached as Exhibit 99.1, provides investors with the company's latest financial performance for the quarter ended September 30, 2013. Investors should refer to this press release for specific earnings details, including revenue, profit, and any commentary on operational performance. A significant operational update is the company's decision to separately report financial information for its Asia and Africa/Eurasia operating segments, effective for the quarter ended September 30, 2013. Previously, these segments were combined under a single 'Greater Asia/Africa' reportable segment. This change reflects the growing importance of these emerging markets to Colgate-Palmolive's business. To ensure consistency, the company has also recast historical segment information for prior years and interim periods, which is provided in Exhibit 99.2.
Key Highlights
- 1Colgate-Palmolive announced its third-quarter 2013 earnings via a press release filed with the 8-K.
- 2The company is now separately reporting financial information for its Asia operating segment and its Africa/Eurasia operating segment, effective from the quarter ended September 30, 2013.
- 3This change in segment reporting was implemented due to the increasing significance of operations in emerging markets.
- 4Historical segment data has been recast to align with the new reporting structure, providing investors with consistent comparative information.
- 5The segment reporting change does not impact Colgate-Palmolive's historical consolidated financial position, results of operations, or cash flows.
- 6The recast segment information covers years 2008-2012 and interim periods in 2012 and 2013, as detailed in Exhibit 99.2.
- 7The CFO, Dennis J. Hickey, signed the report, indicating oversight of the financial disclosures.