Summary
Colgate-Palmolive Company (CL) filed an 8-K on July 28, 2016, primarily to report on its financial results for the quarter ended June 30, 2016, via a press release (Exhibit 99.1). This filing also disclosed a change in its reporting structure for operating segments, specifically realigning the geographic scope of its Europe/South Pacific and Asia segments within the Oral, Personal, and Home Care division, effective April 1, 2016. This segment realignment involves transferring management responsibility for South Pacific operations to the Asia management team, resulting in South Pacific operations being reported under the Asia Pacific segment. While this modifies the geographic components of the Oral, Personal, and Home Care segment, the company emphasizes that it has no impact on historical consolidated financial results or cash flows. Colgate-Palmolive has provided recast historical segment information (Exhibit 99.2) to ensure consistency for investors under the new structure.
Key Highlights
- 1Colgate-Palmolive announced its financial results for the second quarter of 2016 via a press release filed as part of this 8-K.
- 2The company is realigning its geographic operating segments, specifically moving South Pacific operations from the Europe/South Pacific segment to the Asia Pacific segment.
- 3This realignment is effective from April 1, 2016, impacting reporting for the quarter ended June 30, 2016.
- 4The change affects the geographic components of the Oral, Personal, and Home Care product segment.
- 5Colgate-Palmolive stated that this segment restructuring has no impact on the company's overall historical consolidated financial position, results of operations, or cash flows.
- 6Recast historical segment information has been provided for investor clarity and consistency with the new reporting structure.
- 7The filing incorporates by reference both the earnings press release and the recast segment information.