Document
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, 2015
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 | |
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Financial Statements: | |
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Statements of Net Assets Available for Benefits as of December 31, 2015 and 2014 | |
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Statement of Changes in Net Assets Available for Benefits for the year ended December 31, 2015 | |
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Notes to Financial Statements | |
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Signatures | |
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Supplemental Schedule: | |
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Schedule of Assets (held at end of year) | |
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 Colgate-Palmolive Company Employees Savings and Investment Plan (the “Plan”) as of December 31, 2015 and 2014, and the related statement of changes in net assets available for benefits for the year ended December 31, 2015. 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, 2015 and 2014, and the changes in net assets available for benefits for the year ended December 31, 2015 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, 2015 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 24, 2016
COLGATE-PALMOLIVE COMPANY
EMPLOYEES SAVINGS AND INVESTMENT PLAN
Statements of Net Assets Available for Benefits
As of December 31, 2015 and 2014
(Dollars in thousands)
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| | 2015 | | 2014 |
Assets | | | | |
Cash | | $ | 1,569 |
| | $ | 2,845 |
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Investments at fair value | | 3,150,023 |
| | 3,360,259 |
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Receivables: | | | | |
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Employer contributions receivable | | 75 |
| | — |
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Participant contributions receivable | | 136 |
| | 133 |
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Due from brokers for securities sold | | — |
| | 257 |
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Notes receivable from participants | | 15,788 |
| | 15,717 |
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Total receivables | | 15,999 |
| | 16,107 |
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Total assets | | 3,167,591 |
| | 3,379,211 |
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Liabilities | | |
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Due to brokers for securities purchased | | 5,151 |
| | 795 |
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Long-term note payable to Colgate-Palmolive Company | | 12,690 |
| | 20,129 |
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Accrued interest on note payable | | 67 |
| | 409 |
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Total liabilities | | 17,908 |
| | 21,333 |
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Net assets available for benefits at fair value | | 3,149,683 |
| | 3,357,878 |
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Adjustments from fair value to contract value relating to fully benefit-responsive investment contracts | | (4,637 | ) | | (7,423 | ) |
Net assets available for benefits | | $ | 3,145,046 |
| | $ | 3,350,455 |
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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, 2015
(Dollars in thousands)
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Additions | |
Net investment income: | |
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Interest | $ | 4,682 |
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Dividends | 58,409 |
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Depreciation in the fair value of investments, net | (86,506 | ) |
Interest expense on note payable | (810 | ) |
Net investment income (loss) | (24,225 | ) |
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Contributions: | |
Employer contributions | 5,684 |
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Participant contributions | 47,745 |
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Total contributions | 53,429 |
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Interest income on notes receivable from participants | 523 |
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Total additions | 29,727 |
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Deductions | |
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Administrative expenses | (2,835 | ) |
Distributions to participants | (232,301 | ) |
Total deductions | (235,136 | ) |
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Decrease in net assets available for benefits | (205,409 | ) |
Net assets available for benefits – beginning of year | 3,350,455 |
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Net assets available for benefits – end of year | $ | 3,145,046 |
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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 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 (formerly 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, 2015, 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 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 | Normally invests at least 80% of its assets in stocks of companies in Europe and the Pacific Basin |
Baird Core Plus Bond Fund
| Normally invests at least 80% of its assets in a diversified portfolio of U.S. government, corporate, mortgage and asset-backed securities |
Neuberger Berman Genesis Fund | Normally 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 Trust | Normally invests 80% of 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 |
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, 2015 and 2014, the ESOP had outstanding loans from the Company of $12,690 and $20,129, 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 $19 million and $31 million as of December 31, 2015 and 2014, respectively based on current interest rates for debt with similar maturities (Level 2 valuation). During 2015, 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, 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. As of December 31, 2014, 18,489,250 common shares (valued at $1,279,271) were released for allocation to participant accounts and the balance of 7,648,548 common shares (valued at $529,203) 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 2015 recognized earnings were less than $149.9 were limited to 16% of their recognized earnings, those employees whose 2015 recognized earnings were between $150.0 and $264.9 were limited to 12% of their recognized earnings and those employees whose 2015 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 2015. 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 2015 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.
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 for employees participating in the Savings Program were made in the form of common stock to Fund D from January through September 2015; beginning in October 2015, 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
Effective January 1, 2014, all eligible employees, including employees who participated in the Company’s Employees’ Retirement Income Plan (“ERIP”) under the pre-July 1, 1989 plan formula 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 ERIP. 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.
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.
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 employer account balances are returned to the unallocated pool of Colgate common stock and 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, 2015 and 2014 totaled $115 and $27, respectively. During 2015, the Company used $238 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. 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”). Distributions to participants are recorded when paid.
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.
COLGATE-PALMOLIVE COMPANY
EMPLOYEES SAVINGS AND INVESTMENT PLAN
Notes to Financial Statements (continued)
(Dollars in thousands, except as indicated)
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.
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 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 will continue to provide certain disclosures that help users understand the nature and risks of fully benefit-responsive investment contracts. Upon adoption, contract value will be 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 will continue to disaggregate investments that are measured using fair value by general type; however, plans are no longer required to also disaggregate investments by nature, characteristics and risks.
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 shall be 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 will be effective for the Plan for reporting periods beginning after December 15, 2015, with early adoption permitted. ASU 2015-12 is to be applied retrospectively. While the plan administrator is currently assessing the impact of Part I and Part II of the new standard, it does not expect this new guidance to have a material impact on the Plan’s financial statements. Part III of the standard is not applicable to the Plan.
In May 2015, the FASB issued ASU 2015-07, “Disclosures for Investments in Certain Entities That Calculate Net Assets Value per Share (or Its Equivalent)”, (“ASU 2015-07”). ASU 2015-07 removes the requirement to categorize within the fair value hierarchy all investments for which fair value is measured using the net asset value per share practical expedient. It also removes the requirement to make certain disclosures for all investments that are eligible to be measured at fair value using the net asset value per share practical expedient. Rather, those disclosures are limited to investments for which the entity has elected to measure the fair value using that practical expedient. ASU 2015-07 will be effective for the Plan for reporting periods beginning after December 15, 2015, with early adoption permitted. ASU 2015-07 is to be applied retrospectively. While the plan administrator is currently assessing the impact of the new standard, it does not expect this new guidance to have a material impact on the Plan’s financial statements.
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, 2015 and 2014, 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 ended through December 31, 2009.
COLGATE-PALMOLIVE COMPANY
EMPLOYEES SAVINGS AND INVESTMENT PLAN
Notes to Financial Statements (continued)
(Dollars in thousands, except as indicated)
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4. | Investments and Fair Value Measurements |
Investments
As of December 31, 2015 and 2014, the Plan had investments in Colgate-Palmolive Company Common Stock, mutual funds, cash reserve funds, GICs and common/collective trust funds.
The following investments represent 5% or more of the Plan’s net assets as of December 31:
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| | | | | | | | |
| | 2015 | | 2014 |
Colgate-Palmolive Company Common Stock, 28,832,582 and 31,032,104 shares, in 2015 and 2014, respectively | | $ | 1,920,827 |
| | $ | 2,147,111 |
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During 2015, 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 | $ | (76,889 | ) |
Common/collective trust funds | 7,262 |
|
Investments in registered investment companies | (16,879 | ) |
Total net appreciation (depreciation) in the fair value of investments | $ | (86,506 | ) |
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 2015, the average yield and the average crediting interest rate on the investment contracts were 2.0% and 2.4%, respectively. For 2014, the average yield and the average crediting interest rate on the investment contracts were 1.4% and 2.3%, 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 $168,020 and $173,688 at December 31, 2015 and 2014, respectively. The fair values of the GICs were $172,657 and $181,111 at December 31, 2015 and 2014, 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.
COLGATE-PALMOLIVE COMPANY
EMPLOYEES SAVINGS AND INVESTMENT PLAN
Notes to Financial Statements (continued)
(Dollars in thousands, except as indicated)
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.
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.
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, 2015:
|
| | | | | | | | | | | | |
| | Level 1 | | Level 2 | | Total |
Colgate-Palmolive Company Common Stock | | $ | 1,920,827 |
| | $ | — |
| | $ | 1,920,827 |
|
Mutual funds: | | | | |
| | |
|
Balanced funds | | 143,301 |
| | — |
| | 143,301 |
|
Equity index funds | | 216,846 |
| | — |
| | 216,846 |
|
International equity funds | | 103,625 |
| | — |
| | 103,625 |
|
Equity funds | | 109,063 |
| | — |
| | 109,063 |
|
Fixed income funds | | 93,585 |
| | — |
| | 93,585 |
|
Cash reserve funds | | 38,593 |
| | — |
| | 38,593 |
|
Separately managed account fund | | 24,107 |
| | — |
| | 24,107 |
|
Guaranteed investment contracts: | | | | | |
|
|
Treasury and agency bonds | | — |
| | 84,659 |
| | 84,659 |
|
Corporate bonds | | — |
| | 50,848 |
| | 50,848 |
|
Commercial and residential mortgage-backed securities | | — |
| | 24,084 |
| | 24,084 |
|
Asset-backed securities | | — |
| | 8,857 |
| | 8,857 |
|
Other | | — |
| | 4,209 |
| | 4,209 |
|
Common/Collective trust funds | | — |
| | 327,419 |
| | 327,419 |
|
Total Investments at Fair Value | | $ | 2,649,947 |
| | $ | 500,076 |
| | $ | 3,150,023 |
|
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, 2014:
|
| | | | | | | | | | | | |
| | Level 1 | | Level 2 | | Total |
Colgate-Palmolive Company Common Stock | | $ | 2,147,111 |
| | $ | — |
| | $ | 2,147,111 |
|
Mutual funds: | | |
| | |
| | |
|
Balanced funds | | 146,777 |
| | — |
| | 146,777 |
|
Equity index funds | | 216,357 |
| | — |
| | 216,357 |
|
International equity funds | | 102,671 |
| | — |
| | 102,671 |
|
Equity funds | | 216,738 |
| | — |
| | 216,738 |
|
Fixed income funds | | 95,889 |
| | — |
| | 95,889 |
|
Cash reserve funds | | 37,255 |
| | — |
| | 37,255 |
|
Separately managed account fund | | 30,716 |
| | — |
| | 30,716 |
|
Guaranteed investment contracts: | | | | | |
|
|
Treasury and agency bonds | | — |
| | 105,247 |
| | 105,247 |
|
Corporate bonds | | — |
| | 43,523 |
| | 43,523 |
|
Commercial and residential mortgage-backed securities | | — |
| | 27,492 |
| | 27,492 |
|
Asset-backed securities | | — |
| | 2,507 |
| | 2,507 |
|
Other | | — |
| | 2,342 |
| | 2,342 |
|
Common/Collective trust funds | | — |
| | 185,634 |
| | 185,634 |
|
Total Investments at Fair Value | | $ | 2,993,514 |
| | $ | 366,745 |
| | $ | 3,360,259 |
|
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, |
| | 2015 | | 2014 |
Assets: | | | | |
Cash | | $ | 1,566 |
| | $ | 2,845 |
|
Fixed income liquid reserve fund | | 755 |
| | 1,016 |
|
Colgate-Palmolive Company Common Stock | | 1,603,262 |
| | 1,841,160 |
|
Total assets | | 1,605,583 |
| | 1,845,021 |
|
Liabilities: | | |
| | |
|
Long-term note payable to Colgate-Palmolive Company | | 12,690 |
| | 20,129 |
|
Accrued interest on long-term note | | 67 |
| | 409 |
|
Total liabilities | | 12,757 |
| | 20,538 |
|
Net assets available for benefits | | $ | 1,592,826 |
| | $ | 1,824,483 |
|
|
| | | |
| Year Ended December 31, 2015 |
Changes in net assets available for benefits: | |
Employer contributions | $ | — |
|
Dividends and interest, net of fees | 35,491 |
|
Net appreciation (depreciation) in the fair value of investments | (65,685 | ) |
Transfers to other funds | (88,562 | ) |
Interest expense on long-term note | (810 | ) |
Distributions to participants | (112,091 | ) |
Increase (decrease) in net assets available for benefits | $ | (231,657 | ) |
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, 2015 and 2014, benefit distributions that have been processed and approved for payment as of such date but not yet paid of $123 and $99, 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, 2015 and 2014, 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, 2015, the Plan had $9,546 and $9,704 invested in the Employee Benefit Temporary Investment FD Fund and Dreyfus Treasury Prime Fund, respectively. As of December 31, 2014, the Plan had $8,630 and $4,245 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, 2015 were $463.
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, 2016 | /s/ Dennis J. Hickey |
| Dennis J. Hickey |
| Chief Financial Officer |
| Colgate-Palmolive Company |
|
| |
| |
Date: June 24, 2016 | /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, 2015
(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% | | $ | 15,788 |
|
| | | | | | |
|
| | Total Participant Loans | | | | $ | 15,788 |
|
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, 2015
(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 | | 0.27 | % | $ | 13,022 |
| | $ | 13,022 |
|
* | | Dreyfus Treasury Prime Fund | | 0.00 | % | 9,704 |
| | 9,704 |
|
| | BNP Paribas SA | | 3.60 | % | 201 |
| | 203 |
|
| | BPCE SA | | Var Rate |
| 251 |
| | 251 |
|
| | Bank of America NA | | Var Rate |
| 250 |
| | 250 |
|
| | Bank of Montreal | | Var Rate |
| 251 |
| | 251 |
|
* | | Bank of New York Mellon Corp | | 2.50 | % | 250 |
| | 253 |
|
| | Bank of Tokyo-Mitsubishi | | 1.00 | % | 300 |
| | 301 |
|
| | Bank of Tokyo-Mitsubishi | | Var Rate |
| 200 |
| | 201 |
|
| | Berkshire Hathaway Inc | | 2.20 | % | 278 |
| | 280 |
|
| | Boeing Capital Corp | | 2.13 | % | 202 |
| | 203 |
|
| | Caterpillar Inc | | 5.70 | % | 258 |
| | 263 |
|
| | Commonwealth Bank of Aust 144A | | Var Rate |
| 250 |
| | 250 |
|
| | Credit Suisse USA Inc | | 5.38 | % | 227 |
| | 231 |
|
| | Walt Disney Co | | 5.63 | % | 207 |
| | 210 |
|
| | General Electric Capital Corp | | 5.00 | % | 425 |
| | 436 |
|
| | ING Bank NV | | 4.00 | % | 277 |
| | 280 |
|
| | International Bank for Reconst | | 0.63 | % | 250 |
| | 251 |
|
| | International Business Machine | | Var Rate |
| 250 |
| | 250 |
|
| | JPMorgan Chase & Co | | Var Rate |
| 375 |
| | 376 |
|
| | Johnson & Johnson | | 2.15 | % | 352 |
| | 353 |
|
| | Merck & Co Inc | | 2.25 | % | 500 |
| | 506 |
|
| | National Australia Bank | | 3.00 | % | 203 |
| | 205 |
|
| | Nordea Bank AB | | 0.88 | % | 275 |
| | 276 |
|
| | Paccar Financial Corp | | 0.75 | % | 175 |
| | 175 |
|
| | Royal Bank of Canada | | 2.88 | % | 201 |
| | 203 |
|
| | Schlumberger Norge AS | | 1.95 | % | 202 |
| | 203 |
|
| | Shell International Finance BV | | Var Rate |
| 250 |
| | 250 |
|
| | Sumitomo Mitsui Banking Corp | | 0.90 | % | 250 |
| | 251 |
|
| | Sumitomo Mitsui Banking Corp | | Var Rate |
| 276 |
| | 276 |
|
| | Svenska Handelsbanken AB | | Var Rate |
| 500 |
| | 501 |
|
| | Toronto-Dominion Bank | | 2.50 | % | 101 |
| | 102 |
|
| | Toronto-Dominion Bank | | 1.50 | % | 252 |
| | 253 |
|
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, 2015
(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 |
| | Total Capital International SA | | 0.75 | % | 250 |
| | 251 |
|
| | UBS AG/Stamford CT | | Var Rate |
| 250 |
| | 250 |
|
| | US Bank NA/Cincinnati OH | | Var Rate |
| 250 |
| | 250 |
|
| | Wells Fargo Bank NA | | Var Rate |
| 325 |
| | 325 |
|
| | Wells Fargo Bank NA | | Var Rate |
| 300 |
| | 300 |
|
| | Westpac BKG Corp N Y Instl C/D | | Var Rate |
| 500 |
| | 501 |
|
| | Wyeth LLC | | 5.50 | % | 352 |
| | 359 |
|
| | Total Cash Equivalents | | |
| | $ | 33,256 |
|
| | | | | | | |
| | Guaranteed Investment Contracts: | | | | | |
| | UNITED STATES TREASURY NOTE | | 1.75 | % | 3/31/2022 |
| | $ | 1,879 |
|
| | UNITED STATES TREASURY NOTE | | 0.88 | % | 4/15/2017 |
| | 4,177 |
|
| | UNITED STATES TREASURY NOTE | | 2.25 | % | 4/30/2021 |
| | 3,890 |
|
| | UNITED STATES TREASURY NOTE | | 1.50 | % | 5/31/2019 |
| | 1,303 |
|
| | UNITED STATES TREASURY NOTE | | 1.00 | % | 12/15/2017 |
| | 1,479 |
|
| | UNITED STATES TIPS | | 0.13 | % | 7/15/2022 |
| | 1,809 |
|
| | UNITED STATES TREASURY NOTE | | 1.38 | % | 3/31/2020 |
| | 3,371 |
|
| | UNITED STATES TREASURY NOTE | | 2.13 | % | 12/31/2021 |
| | 414 |
|
| | UNITED STATES DEPT OF THE TREASURY | | 0.33 | % | 7/31/2016 |
| | 1,001 |
|
| | UNITED STATES TREASURY NOTE | | 1.75 | % | 2/28/2022 |
| | 3,075 |
|
| | UNITED STATES TREASURY NOTE | | 1.63 | % | 12/31/2019 |
| | 11,603 |
|
| | UNITED STATES TIPS | | 0.13 | % | 4/15/2018 |
| | 3,083 |
|
| | UNITED STATES TREASURY NOTE | | 1.63 | % | 6/30/2020 |
| | 697 |
|
| | UNITED STATES TREASURY NOTE | | 1.75 | % | 9/30/2019 |
| | 3,641 |
|
| | UNITED STATES TREASURY NOTE | | 1.25 | % | 10/31/2018 |
| | 5,004 |
|
| | UNITED STATES TREASURY NOTE | | 2.25 | % | 11/15/2024 |
| | 4,210 |
|
| | UNITED STATES TREASURY NOTE | | 2.38 | % | 8/15/2024 |
| | 877 |
|
| | UNITED STATES TREASURY NOTE | | 1.88 | % | 5/31/2022 |
| | 595 |
|
| | UNITED STATES TREASURY NOTE | | 1.50 | % | 11/30/2019 |
| | 1,297 |
|
| | UNITED STATES TREASURY NOTE | | 0.88 | % | 10/15/2017 |
| | 14,084 |
|
| | UNITED STATES TREASURY NOTE | | 3.63 | % | 2/15/2044 |
| | 11 |
|
| | UNITED STATES TREASURY NOTE | | 0.88 | % | 1/15/2018 |
| | 5,398 |
|
| | UNITED STATES TIPS | | 0.38 | % | 7/15/2023 |
| | 2,705 |
|
| | UNITED STATES TIPS | | 0.13 | % | 4/15/2017 |
| | 1,045 |
|
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, 2015
(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 |
| | UNITED STATES TREASURY NOTE | | 1.63 | % | 8/31/2019 |
| | 4,135 |
|
| | FEDERAL FARM CREDIT BANK SYSTEM | | 5.05 | % | 6/22/2018 |
| | 1,854 |
|
| | FEDERAL HOME LOAN BANK SYSTEM | | 1.88 | % | 3/13/2020 |
| | 302 |
|
| | VIRGINIA COMMONWEALTH TRANS BRD | | 5.35 | % | 5/15/2035 |
| | 516 |
|
| | COMMONWEALTH OF PENNSYLVANIA | | 5.85 | % | 7/15/2030 |
| | 693 |
|
| | DALLAS TEXAS INDEPENDENT SCHO | | 6.45 | % | 2/15/2035 |
| | 475 |
|
| | LOUISIANA LOC GOVT ENVIRONMENTAL | | 1.52 | % | 2/1/2018 |
| | 34 |
|
| | NEXTERA ENERGY CAPITAL HOLDINGS, IN | | 6.00 | % | 3/1/2019 |
| | 261 |
|
| | NEVADA POWER COMPANY | | 6.50 | % | 5/15/2018 |
| | 216 |
|
| | WISCONSIN POWER AND LIGHT COMPANY | | 5.00 | % | 7/15/2019 |
| | 826 |
|
| | APPALACHIAN POWER COMPANY | | 4.60 | % | 3/30/2021 |
| | 674 |
|
| | PACIFIC GAS AND ELECTRIC COMPANY | | 3.50 | % | 6/15/2025 |
| | 178 |
|
| | DUKE ENERGY PROGRESS, LLC | | 5.30 | % | 1/15/2019 |
| | 212 |
|
| | ORACLE CORPORATION | | 2.50 | % | 5/15/2022 |
| | 295 |
|
| | NBC UNIVERSAL MEDIA, LLC | | 4.38 | % | 4/1/2021 |
| | 519 |
|
| | NBC UNIVERSAL MEDIA, LLC | | 2.88 | % | 1/15/2023 |
| | 126 |
|
| | DANAHER CORPORATION | | 3.35 | % | 9/15/2025 |
| | 231 |
|
| | BP CAPITAL MARKETS P.L.C. | | 2.25 | % | 11/1/2016 |
| | 461 |
|
| | DEVON ENERGY CORPORATION | | 3.25 | % | 5/15/2022 |
| | 240 |
|
| | DIRECTV HOLDINGS LLC | | 3.95 | % | 1/15/2025 |
| | 25 |
|
| | AGILENT TECHNOLOGIES, INC | | 3.20 | % | 10/1/2022 |
| | 387 |
|
| | DIRECTV HOLDINGS LLC | | 4.45 | % | 4/1/2024 |
| | 337 |
|
| | ENERGY TRANSFER PARTNERS, L.P | | 4.75 | % | 1/15/2026 |
| | 88 |
|
| | ENERGY TRANSFER PARTNERS, L.P | | 3.60 | % | 2/1/2023 |
| | 21 |
|
| | ENTERPRISE PRODUCTS OPERATING | | 3.75 | % | 2/15/2025 |
| | 37 |
|
| | TIME WARNER INC | | 3.88 | % | 1/15/2026 |
| | 174 |
|
| | HARRIS CORPORATION | | 2.70 | % | 4/27/2020 |
| | 319 |
|
| | REYNOLDS AMERICAN INC | | 4.45 | % | 6/12/2025 |
| | 262 |
|
| | ROPER TECHNOLOGIES, INC | | 3.00 | % | 12/15/2020 |
| | 200 |
|
| | ANADARKO PETROLEUM CORPORATION | | 8.70 | % | 3/15/2019 |
| | 406 |
|
| | WESTERN GAS PARTNERS, LP | | 3.95 | % | 6/1/2025 |
| | 148 |
|
| | WALGREENS BOOTS ALLIANCE, INC | | 3.30 | % | 11/18/2021 |
| | 392 |
|
| | DEVON ENERGY CORPORATION | | 4.00 | % | 7/15/2021 |
| | 71 |
|
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, 2015
(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 |
| | BUCKEYE PARTNERS, LP. | | 4.15 | % | 7/1/2023 |
| | 176 |
|
| | HEWLETT PACKARD ENTERPRISE | | 4.90 | % | 10/15/2025 |
| | 273 |
|
| | FISERV, INC | | 2.70 | % | 6/1/2020 |
| | 273 |
|
| | ACTAVIS FUNDING SCS | | 3.80 | % | 3/15/2025 |
| | 317 |
|
| | AMAZON.COM, INC | | 3.30 | % | 12/05/2021 |
| | 282 |
|
| | VERIZON COMMUNICATIONS INC | | 2.45 | % | 11/1/2022 |
| | 1,047 |
|
| | ACTAVIS FUNDING SCS | | 3.45 | % | 3/15/2022 |
| | 607 |
|
| | AMPHENOL CORPORATION | | 3.13 | % | 9/15/2021 |
| | 198 |
|
| | PENSKE TRUCK LEASING CO | | 4.88 | % | 7/11/2022 |
| | 585 |
|
| | TIME WARNER CABLE INC | | 4.00 | % | 9/1/2021 |
| | 154 |
|
| | ENBRIDGE INC | | 3.50 | % | 6/10/2024 |
| | 126 |
|
| | FORD MOTOR CREDIT COMPANY LLC | | 5.88 | % | 8/2/2021 |
| | 1,284 |
|
| | ENTERPRISE PRODUCTS OPERATING | | 3.35 | % | 3/15/2023 |
| | 32 |
|
| | VERIZON COMMUNICATIONS INC | | 5.15 | % | 9/15/2023 |
| | 722 |
|
| | MCKESSON CORPORATION | | 2.85 | % | 3/15/2023 |
| | 193 |
|
| | EASTMAN CHEMICAL COMPANY | | 3.80 | % | 3/15/2025 |
| | 318 |
|
| | KINDER MORGAN, INC | | 3.05 | % | 12/1/2019 |
| | 277 |
|
| | 21ST CENTURY FOX AMERICA, INC | | 3.70 | % | 9/15/2024 |
| | 76 |
|
| | GLENCORE FUNDING LLC | | 2.50 | % | 1/15/2019 |
| | 212 |
|
| | NOVARTIS CAPITAL CORPORATION | | 2.40 | % | 9/21/2022 |
| | 669 |
|
| | SHELL INTERNATIONAL FINANCE B.V | | 2.13 | % | 5/11/2020 |
| | 590 |
|
| | HALLIBURTON COMPANY | | 3.38 | % | 11/15/2022 |
| | 222 |
|
| | MEDTRONIC, INC | | 2.50 | % | 3/15/2020 |
| | 126 |
|
| | MEDTRONIC, INC | | 3.15 | % | 3/15/2022 |
| | 204 |
|
| | HALLIBURTON COMPANY | | 3.80 | % | 11/15/2025 |
| | 221 |
|
| | COMCAST CORPORATION | | 3.38 | % | 8/15/2025 |
| | 179 |
|
| | ACTAVIS FUNDING SCS | | 3.85 | % | 6/15/2024 |
| | 226 |
|
| | FOREST LABORATORIES, INC | | 5.00 | % | 12/15/2021 |
| | 136 |
|
| | LIFE TECHNOLOGIES CORPORATION | | 5.00 | % | 1/15/2021 |
| | 383 |
|
| | LYONDELLBASELL INDUSTRIES N.V. | | 5.00 | % | 4/15/2019 |
| | 312 |
|
| | ABBVIE INC | | 3.20 | % | 11/06/2022 |
| | 198 |
|
| | FIDELITY NATIONAL INFORMATION | | 3.63 | % | 10/15/2020 |
| | 433 |
|
| | CIGNA CORPORATION | | 3.25 | % | 4/15/2025 |
| | 268 |
|
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, 2015
(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 |
| | WILLIAMS PARTNERS LP | | 3.60 | % | 3/15/2022 |
| | 341 |
|
| | HUMANA INC | | 3.85 | % | 10/1/2024 |
| | 378 |
|
| | ABBVIE INC | | 2.50 | % | 5/14/2020 |
| | 470 |
|
| | ENTERPRISE PRODUCTS OPERATING LLC | | 5.25 | % | 1/31/2020 |
| | 534 |
|
| | TELEFONICA EMISIONES, S.A.U. | | 5.46 | % | 2/16/2021 |
| | 1,111 |
|
| | CCO SAFARI II, LLC | | 3.58 | % | 7/23/2020 |
| | 51 |
|
| | SUNOCO LOGISTICS PARTNERS OPE | | 4.25 | % | 4/1/2024 |
| | 88 |
|
| | AUTOMATIC DATA PROCESSING | | 3.38 | % | 9/15/2025 |
| | 77 |
|
| | TIME WARNER CABLE INC | | 6.75 | % | 7/1/2018 |
| | 169 |
|
| | FOREST LABORATORIES | | 4.38 | % | 2/1/2019 |
| | 186 |
|
| | ANADARKO PETROLEUM CORPORATION | | 3.45 | % | 7/15/2024 |
| | 184 |
|
| | CONOCO PHILLIPS COMPANY | | 3.35 | % | 11/15/2024 |
| | 300 |
|
| | HP INC | | 4.30 | % | 6/1/2021 |
| | 173 |
|
| | HALLIBURTON COMPANY | | 3.50 | % | 8/1/2023 |
| | 74 |
|
| | APACHE CORPORATION | | 3.25 | % | 4/15/2022 |
| | 144 |
|
| | HP INC | | 4.65 | % | 12/9/2021 |
| | 823 |
|
| | MARRIOTT INTERNATIONAL, INC | | 2.88 | % | 3/1/2021 |
| | 225 |
|
| | INTEL CORPORATION | | 3.70 | % | 7/29/2025 |
| | 394 |
|
| | TIME WARNER CABLE INC | | 5.00 | % | 2/1/2020 |
| | 27 |
|
| | CREDIT SUISSE AG-NEW YORK BRANCH | | 3.00 | % | 10/29/2021 |
| | 849 |
|
| | ABBEY NATIONAL TREASURY SERVICES PL | | 4.00 | % | 3/13/2024 |
| | 422 |
|
| | TD AMERITRADE HOLDING CORPORATION | | 2.95 | % | 4/1/2022 |
| | 373 |
|
| | BANK OF AMERICA, NA | | 1.65 | % | 3/26/2018 |
| | 923 |
|
| | JPMORGAN CHASE & CO | | 4.50 | % | 1/24/2022 |
| | 1,757 |
|
| | KKR GROUP FINANCE CO. LLC | | 6.38 | % | 9/29/2020 |
| | 204 |
|
| | U.S. BANCORP | | 2.95 | % | 7/15/2022 |
| | 177 |
|
| | FEDERAL REALTY INVESTMENT TRUST | | 2.55 | % | 1/15/2021 |
| | 150 |
|
| | AMERICAN EXPRESS CREDIT CORPORATION | | 2.38 | % | 3/24/2017 |
| | 305 |
|
| | BRANCH BANKING AND TRUST COMPANY | | 3.63 | % | 9/16/2025 |
| | 508 |
|
| | BIOMED REALTY, LP. | | 2.63 | % | 5/1/2019 |
| | 266 |
|
| | SENIOR HOUSING PROPERTIES TRUST | | 3.25 | % | 5/1/2019 |
| | 200 |
|
| | KIMCO REALTY CORPORATION | | 3.20 | % | 5/1/2021 |
| | 452 |
|
| | VENTAS REALTY LIMITED PARTNER | | 2.70 | % | 4/1/2020 |
| | 346 |
|
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, 2015
(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 |
| | SELECT INCOME REIT | | 4.15 | % | 2/1/2022 |
| | 123 |
|
| | SELECT INCOME REIT | | 3.60 | % | 2/1/2020 |
| | 102 |
|
| | SELECT INCOME REIT | | 2.85 | % | 2/1/2018 |
| | 50 |
|
| | BANK OF AMERICA CORPORATION | | 4.13 | % | 1/22/2024 |
| | 53 |
|
| | AMERICAN CAMPUS COMMUNITIES | | 4.13 | % | 7/1/2024 |
| | 407 |
|
| | CREDIT SUISSE GROUP FUNDING | | 3.75 | % | 3/26/2025 |
| | 392 |
|
| | BNP PARIBAS | | 4.38 | % | 9/28/2025 |
| | 471 |
|
| | NATIONAL RETAIL PROPERTIES, INC | | 4.00 | % | 11/15/2025 |
| | 174 |
|
| | ALLIED WORLD ASSURANCE COMPANY | | 4.35 | % | 10/29/2025 |
| | 296 |
|
| | HCP, INC | | 4.25 | % | 11/15/2023 |
| | 401 |
|
| | AMERICAN INTERNATIONAL GROUP | | 4.88 | % | 6/1/2022 |
| | 568 |
|
| | HEALTHCARE TRUST OF AMERICA | | 3.38 | % | 7/15/2021 |
| | 150 |
|
| | AFFILIATED MANAGERS GROUP, INC | | 4.25 | % | 2/15/2024 |
| | 591 |
|
| | WELLTOWER, INC | | 4.13 | % | 4/1/2019 |
| | 188 |
|
| | THE HARTFORD FINANCIAL SERVICES GROUP | | 6.00 | % | 1/15/2019 |
| | 118 |
|
| | BRIXMOR OPERATING PARTNERSHIP | | 3.85 | % | 2/1/2025 |
| | 148 |
|
| | BANK OF AMERICA CORPORATION | | 4.00 | % | 4/1/2024 |
| | 2,221 |
|
| | CITIGROUP INC | | 4.50 | % | 1/14/2022 |
| | 875 |
|
| | CUBESMART, L.P. | | 4.80 | % | 7/15/2022 |
| | 436 |
|
| | SUNTRUST BANK | | 7.25 | % | 3/15/2018 |
| | 277 |
|
| | JPMORGAN CHASE & CO | | 4.40 | % | 7/22/2020 |
| | 261 |
|
| | MORGAN STANLEY | | 2.65 | % | 1/27/2020 |
| | 856 |
|
| | MORGAN STANLEY | | 5.50 | % | 7/28/2021 |
| | 1,166 |
|
| | PNC BANK, NATIONAL ASSOCIATION | | 3.80 | % | 7/25/2023 |
| | 625 |
|
| | ABBEY NATIONAL TREASURY SERVICES | | 3.05 | % | 8/23/2018 |
| | 414 |
|
| | CITIGROUP INC | | 3.75 | % | 6/16/2024 |
| | 485 |
|
| | INTESA SANPAOLO SPA | | 5.25 | % | 1/12/2024 |
| | 574 |
|
| | INTESA SANPAOLO SPA | | 2.38 | % | 1/13/2017 |
| | 431 |
|
| | SANTANDER BANK, NA | | 2.00 | % | 1/12/2018 |
| | 601 |
|
| | SYNCHRONY FINANCIAL | | 3.00 | % | 8/15/2019 |
| | 429 |
|
| | KILROY REALTY, L.P. | | 4.38 | % | 10/1/2025 |
| | 283 |
|
| | BANCO BILBAO VIZCAYA ARGENTARIA | | 3.00 | % | 10/20/2020 |
| | 500 |
|
| | WELLS FARGO & COMPANY | | 4.60 | % | 4/1/2021 |
| | 576 |
|
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, 2015
(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 |
| | KEYCORP | | 5.10 | % | 3/24/2021 |
| | 264 |
|
| | SYNCHRONY FINANCIAL | | 2.60 | % | 1/15/2019 |
| | 175 |
|
| | BARCLAYS BANK PLC | | 3.75 | % | 5/15/2024 |
| | 384 |
|
| | SANTANDER ISSUANCES, S.A. UNIPE | | 5.18 | % | 11/19/2025 |
| | 395 |
|
| | BPCE SA | | 4.00 | % | 4/15/2024 |
| | 573 |
|
| | THE BANK OF TOKYO-MITSUBISH | | 2.15 | % | 9/14/2018 |
| | 452 |
|
| | SUNTRUST BANK | | 2.75 | % | 5/1/2023 |
| | 360 |
|
| | RETAIL OPPORTUNITY INVESTMENTS | | 4.00 | % | 12/15/2024 |
| | 307 |
|
| | CREDIT SUISSE GROUP FUNDING | | 3.13 | % | 12/10/2020 |
| | 250 |
|
| | BB&T CORPORATION | | 1.60 | % | 8/15/2017 |
| | 302 |
|
| | MORGAN STANLEY | | 3.70 | % | 10/23/2024 |
| | 581 |
|
| | ERP OPERATING, L.P. | | 4.63 | % | 12/15/2021 |
| | 352 |
|
| | MORGAN STANLEY | | 4.00 | % | 7/23/2025 |
| | 105 |
|
| | CS FIRST BOSTON MORTGAGE | | 5.50 | % | 7/25/2020 |
| | 111 |
|
| | FNCN AE2033 | | 3.50 | % | 9/1/2020 |
| | 19 |
|
| | FGLMC G07505 | | 7.00 | % | 2/1/2039 |
| | 568 |
|
| | LB-UBS COMMERCIAL | | 5.34 | % | 11/15/2038 |
| | 1,388 |
|
| | FGLMC G05532 | | 5.50 | % | 8/1/2035 |
| | 934 |
|
| | FGLMC G06348 | | 4.50 | % | 2/1/2041 |
| | 170 |
|
| | FNCI AL3757 | | 5.00 | % | 3/1/2027 |
| | 51 |
|
| | FNARM 756359 | | 2.49 | % | 12/1/2033 |
| | 61 |
|
| | FHARM 781013 | | 2.44 | % | 11/1/2033 |
| | 89 |
|
| | FNCL AL4316 | | 7.00 | % | 3/1/2039 |
| | 340 |
|
| | MORGAN STANLEY CAPITAL | | 5.73 | % | 7/12/2044 |
| | 827 |
|
| | FHARM 1B0118 | | 2.66 | % | 8/1/2031 |
| | 7 |
|
| | WAMU 2004AR14 A1 | | 2.58 | % | 1/25/2035 |
| | 82 |
|
| | FEDERAL NATIONAL MORTGAGE | | 2.35 | % | 5/25/2022 |
| | 495 |
|
| | MASTR ASSET SECURITIZATION | | 5.50 | % | 5/25/2033 |
| | 115 |
|
| | FHARM 847589 | | 2.42 | % | 9/1/2035 |
| | 118 |
|
| | WELLS FARGO COMMERCIAL | | 3.54 | % | 12/15/2048 |
| | 1,255 |
|
| | COMMERCIAL MORTGAGE | | 5.31 | % | 12/10/2046 |
| | 2,362 |
|
| | FEDERAL HOME LOAN | | 0.73 | % | 8/15/2036 |
| | 797 |
|
| | CREDIT SUISSE MORTGAGE | | 5.53 | % | 1/15/2049 |
| | 1,510 |
|
| | COMMERCIAL MORTGAGE | | 5.29 | % | 12/10/2046 |
| | 648 |
|
| | MERRILL LYNCH/COUNTR | | 5.17 | % | 12/12/2049 |
| | 482 |
|
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, 2015
(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 |
| | FGLMC G07961 | | 3.50 | % | 3/1/2045 |
| | 2,014 |
|
| | FHLMC MULTIFAMILY | | 1.88 | % | 5/25/2019 |
| | 1,300 |
|
| | FNCL 805480 | | 5.50 | % | 12/1/2034 |
| | 739 |
|
| | CITIGROUP/DEUTSCHE | | 5.61 | % | 10/15/2048 |
| | 937 |
|
| | BANC OF AMERICA MERRILL | | 5.84 | % | 5/10/2045 |
| | 317 |
|
| | FEDERAL NATIONAL MORTGAGE | | 2.98 | % | 4/25/2022 |
| | 831 |
|
| | FEDERAL HOME LOAN | | 2.09 | % | 3/25/2019 |
| | 1,107 |
|
| | WACHOVIA BANK COMMERCIAL | | 6.01 | % | 6/15/2045 |
| | 1,071 |
|
| | FEDERAL NATIONAL | | 1.52 | % | 12/25/2019 |
| | 376 |
|
| | FEDERAL NATIONAL | | 1.80 | % | 12/25/2019 |
| | 601 |
|
| | FHLB SECURITY-BACKED | | 2.71 | % | 9/25/2022 |
| | 571 |
|
| | FEDERAL NATIONAL MORTGAGE | | 7.00 | % | 10/25/2042 |
| | 139 |
|
| | FNCL 889061 | | 6.00 | % | 1/1/2038 |
| | 216 |
|
| | FGCI J13715 | | 3.50 | % | 12/1/2020 |
| | 3 |
|
| | FNARM 754671 | | 2.05 | % | 10/1/2033 |
| | 94 |
|
| | FNARM 748645 | | 2.05 | % | 9/1/2033 |
| | 117 |
|
| | FGLMC G06255 | | 4.50 | % | 2/1/2041 |
| | 223 |
|
| | FNARM 758612 | | 2.05 | % | 11/1/2033 |
| | 115 |
|
| | FNMA AL2293 | | 4.38 | % | 6/1/2021 |
| | 505 |
|
| | FNCL 889060 | | 6.00 | % | 1/1/2038 |
| | 226 |
|
| | FEDERAL HOME LOAN | | 3.50 | % | 10/15/2024 |
| | 155 |
|
| | CHASE EDUCATION LOAN | | 0.67 | % | 12/28/2023 |
| | 166 |
|
| | ALLY AUTO RECEIVABLE | | 1.21 | % | 12/20/2017 |
| | 399 |
|
| | GOAL CAPITAL FUNDING | | 0.51 | % | 11/25/2026 |
| | 70 |
|
| | AMERICAN EXPRESS CREDIT | | 1.49 | % | 4/15/2020 |
| | 851 |
|
| | ACCESS GROUP, INC | | 0.50 | % | 8/25/2023 |
| | 133 |
|
| | GMF FLOORPLAN OWN | | 1.65 | % | 5/15/2020 |
| | 741 |
|
| | NELNET STUDENT LOAN TRUST | | 0.49 | % | 8/23/2027 |
| | 684 |
|
| | SLM STUDENT LOAN TRUST | | 0.55 | % | 1/25/2023 |
| | 172 |
|
| | SLM STUDENT LOAN TRUST | | 0.39 | % | 10/25/2022 |
| | 58 |
|
| | NELNET STUDENT LOAN TRUST | | 0.72 | % | 6/22/2026 |
| | 343 |
|
| | HIGHER EDUCATION FUNDING | | 0.53 | % | 2/25/2030 |
| | 246 |
|
| | WACHOVIA STUDENT LOAN | | 0.45 | % | 1/26/2026 |
| | 138 |
|
| | SOUTH CAROLINA STUDENT LOAN | | 0.99 | % | 5/1/2030 |
| | 484 |
|
| | BARCLAYS DRYROCK ISSUAN | | 2.41 | % | 7/15/2022 |
| | 857 |
|
| | SLM STUDENT LOAN TRUST | | 0.43 | % | 7/25/2025 |
| | 660 |
|
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, 2015
(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 |
| | SLC STUDENT LOAN TRUST | | 0.62 | % | 3/15/2027 |
| | 718 |
|
| | NORTHSTAR EDUCATION | | 0.49 | % | 7/30/2018 |
| | 147 |
|
| | SLM STUDENT LOAN TRUST | | 0.41 | % | 10/25/2024 |
| | 426 |
|
| | DISCOVER CARD EXECUTION | | 1.90 | % | 10/17/2022 |
| | 493 |
|
| | CENTERPOINT ENERGY | | 0.90 | % | 4/15/2018 |
| | 176 |
|
| | CAPITAL ONE MULTI-ASSET | | 1.39 | % | 1/15/2021 |
| | 895 |
|
* | | EB TEMPORARY INVESTMENT FUND | | 0.27 | % | | | 4,209 |
|
| | Total Guaranteed Investment Contracts | | | | | $ | 172,657 |
|
| | | | | | | |
| | Total Fund A | | | | | $ | 205,913 |
|
| | | | | | | |
| | | | | | | |
* | | 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, 2015
(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 | | $ | 4,582 |
| | $ | 4,582 |
|
| | | | | | |
* | | Colgate-Palmolive Co. Common Stock | | 4,766,801 | shares | | 317,564 |
|
| | | | | | |
| | Total | | |
| | $ | 322,146 |
|
| | | | | | |
| | | | | | |
* | | 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, 2015
(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 | | $ | 720 |
| | $ | 720 |
| | $ | 720 |
|
| | | | | | | | |
* | | Colgate-Palmolive Co. Common Stock | | 23,636,184 | shares | | 96,026 |
| | 1,574,643 |
|
| | | | | | | | |
| | Total | | |
| | $ | 96,746 |
| | $ | 1,575,363 |
|
| | | | | | | | |
| | | | | | | | |
* | | 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, 2015
(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 | | 429,597 | shares | | 477 |
| | 28,620 |
|
| | | | | | | | |
| | Total | | | | $ | 512 |
| | $ | 28,655 |
|
| | | | | | | | |
| | | | | | | | |
* | | 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, 2015
(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 | | 2,255,296 | units | | $ | 143,301 |
|
| | | | | | |
| | Total | | |
| | $ | 143,301 |
|
|
| |
| 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, 2015
(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) | | 743,348 | units | | $ | 138,723 |
|
| | | | | | |
| | Total | | |
| | $ | 138,723 |
|
|
| |
| 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, 2015
(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 | | 2,286,516 | units | | $ | 103,625 |
|
| | | | | | |
| | Total | | |
| | $ | 103,625 |
|
|
| |
| 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)
BAIRD CORE PLUS BOND
AS OF DECEMBER 31, 2015
(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: | | | | |
| | | | | | |
| | Baird Core Plus Bond | | 8,625,307 | units | | $ | 93,585 |
|
| | | | | | |
| | Total | | |
| | $ | 93,585 |
|
|
| |
| 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, 2015
(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 | | 1,228,732 | units | | $ | 78,123 |
|
| | | | | | |
| | Total | | |
| | $ | 78,123 |
|
|
| |
| 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, 2015
(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 | | 2,136,805 | units | | $ | 109,063 |
|
| | | | | | |
| | Total | | |
| | $ | 109,063 |
|
|
| |
| 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 FUND
AS OF DECEMBER 31, 2015
(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 |
| | | | | | |
| | Brandywine Classic Large Cap Value Fund | | | | |
| | Separate Account Cash | | $ | 376 |
| | $ | 376 |
|
| | Equity Investments: | | | | |
| | EATON CORP PLC | | 4,300 | shares | | 224 |
|
| | ENDO INTERNATIONAL PLC | | 2,600 | shares | | 159 |
|
| | HORIZON PHARMA PLC | | 8,800 | shares | | 191 |
|
| | JAZZ PHARMACEUTICALS PLC | | 1,200 | shares | | 169 |
|
| | MALLINCKRODT PLC | | 2,400 | shares | | 179 |
|
| | MICHAEL KORS HOLDINGS LTD | | 16,600 | shares | | 665 |
|
| | MYLAN NV | | 5,000 | shares | | 270 |
|
| | AT&T INC | | 6,700 | shares | | 231 |
|
| | ABBVIE INC | | 6,300 | shares | | 373 |
|
| | AECOM | | 9,000 | shares | | 270 |
|
| | AMERICAN AIRLINES GROUP INC | | 17,600 | shares | | 745 |
|
| | APACHE CORP | | 4,000 | shares | | 178 |
|
| | APPLIED MATERIALS INC | | 14,000 | shares | | 261 |
|
| | BP PLC | | 33,318 | shares | | 1,041 |
|
| | BANK OF AMERICA CORP | | 71,500 | shares | | 1,203 |
|
| | BERKSHIRE HATHAWAY INC | | 4,742 | shares | | 626 |
|
| | CANADIAN NATURAL RESOURCES LTD | | 19,700 | shares | | 430 |
|
| | CATERPILLAR INC | | 4,500 | shares | | 306 |
|
| | CHICAGO BRIDGE & IRON CO NV | | 6,674 | shares | | 260 |
|
| | CHINA MOBILE LTD | | 10,500 | shares | | 591 |
|
| | CIMAREX ENERGY CO | | 3,400 | shares | | 304 |
|
| | CISCO SYSTEMS INC | | 20,000 | shares | | 543 |
|
| | CITIGROUP INC | | 23,200 | shares | | 1,201 |
|
| | COVANTA HOLDING CORP | | 6,200 | shares | | 96 |
|
| | DSW INC | | 5,300 | shares | | 126 |
|
| | DELTA AIR LINES INC | | 14,100 | shares | | 715 |
|
| | DEVON ENERGY CO | | 5,900 | shares | | 189 |
|
| | DILLARD'S INC | | 3,000 | shares | | 197 |
|
| | DOW CHEMICAL CO | | 4,700 | shares | | 242 |
|
| | EASTMAN CHEMICAL CO | | 5,800 | shares | | 392 |
|
| | GENERAL MOTORS CO | | 28,300 | shares | | 962 |
|
| | GOODYEAR TIRE & RUBBER CO | | 10,200 | shares | | 333 |
|
| | HATTERAS FINANCIAL CORP | | 24,700 | shares | | 325 |
|
| | JPMORGAN CHASE & CO | | 11,100 | shares | | 733 |
|
|
| |
| 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 FUND
AS OF DECEMBER 31, 2015
(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 |
| | KOHL'S CORP | | 5,900 | shares | | 281 |
|
| | LAM RESEARCH CORP | | 4,200 | shares | | 334 |
|
| | LOUISIANA-PACIFIC CORP | | 21,600 | shares | | 389 |
|
| | MAGNA INTERNATIONAL INC | | 5,500 | shares | | 223 |
|
| | MERCK & CO INC | | 4,900 | shares | | 259 |
|
| | METLIFE INC | | 23,200 | shares | | 1,118 |
|
| | MICRON TECHNOLOGY INC | | 40,150 | shares | | 569 |
|
| | NOMURA HOLDINGS INC | | 58,000 | shares | | 322 |
|
| | OCCIDENTAL PETROLEUM CORP | | 4,300 | shares | | 291 |
|
| | OSHKOSH CORP | | 7,400 | shares | | 289 |
|
| | PNC FINANCIAL SERVICES GROUP | | 2,700 | shares | | 257 |
|
| | PTC THERAPEUTICS INC | | 3,000 | shares | | 97 |
|
| | PFIZER INC | | 7,300 | shares | | 236 |
|
| | RELIANCE STEEL & ALUMINUM CO | | 7,600 | shares | | 440 |
|
| | SANTANDER CONSUMER USA HOLDING | | 20,300 | shares | | 322 |
|
| | SCHLUMBERGER LTD | | 7,000 | shares | | 488 |
|
| | SYNCHRONY FINANCIAL | | 8,900 | shares | | 271 |
|
| | TEREX CORP | | 8,165 | shares | | 151 |
|
| | TOYOTA MOTOR CORP | | 6,100 | shares | | 751 |
|
| | TRIBUNE MEDIA CO | | 6,800 | shares | | 230 |
|
| | TUPPERWARE BRANDS CORP | | 3,600 | shares | | 200 |
|
| | TWO HARBORS INVESTMENT CORP | | 44,000 | shares | | 356 |
|
| | VALEANT PHARMACEUTICALS INTERN | | 3,800 | shares | | 386 |
|
| | WELLS FARGO & CO | | 6,400 | shares | | 348 |
|
| | VERIZON COMMUNICATIONS INC | | 8,500 | shares | | 393 |
|
| | Total Separately Managed Account Fund | | |
| | $ | 24,107 |
|
|
| |
| 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, 2015
(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: | | |
| | |
|
| | T.Rowe Price Growth Stock Trust | | 5,138,592 | units | | $ | 119,781 |
|
| | BlackRock Lifepath Index Retirement | | 1,528,505 | units | | $ | 25,475 |
|
| | BlackRock Lifepath Index 2020 | | 1,761,851 | units | | $ | 33,124 |
|
| | BlackRock Lifepath Index 2025 | | 1,923,371 | units | | $ | 38,151 |
|
| | BlackRock Lifepath Index 2030 | | 1,734,208 | units | | $ | 35,886 |
|
| | BlackRock Lifepath Index 2035 | | 1,445,977 | units | | $ | 31,125 |
|
| | BlackRock Lifepath Index 2040 | | 820,731 | units | | $ | 18,283 |
|
| | BlackRock Lifepath Index 2045 | | 594,336 | units | | $ | 13,699 |
|
| | BlackRock Lifepath Index 2050 | | 263,191 | units | | $ | 6,264 |
|
| | BlackRock Lifepath Index 2055 | | 327,136 | units | | $ | 5,631 |
|
| | Total Common/Collective Trust Funds | | |
| | $ | 327,419 |
|
| | Plan Total | | |
| | $ | 3,165,811 |
|