CL » Topics » Issuer Purchases of Equity Securities

This excerpt taken from the CL 10-K filed Feb 28, 2008.

Issuer Purchases of Equity Securities

 

For each of the three months in the quarter ended December 31, 2007, the Company repurchased its common stock under a share repurchase program that was approved by the Board of Directors and publicly announced in March 2006 (the 2006 Program). Under the 2006 Program, the Company was authorized to purchase up to 30 million shares of the Company’s common stock.

 

On January 30, 2008, the Company’s Board of Directors authorized a new share repurchase program (the 2008 Program) that replaced, as of the close of business on January 30, 2008, the 2006 Program. The 2008 Program authorizes the repurchase of up to 30 million shares of the Company’s common stock. As of December 31, 2007, the Company had approximately 509 million shares of common stock outstanding. The Board’s authorization also provided for share repurchases on an on-going basis to fulfill certain requirements of the Company’s compensation and benefit plans. The shares will be repurchased from time to time in open market transactions or privately negotiated transactions at the Company’s discretion, subject to market conditions, customary blackout periods and other factors.

 

The following table shows the stock repurchase activity for each of the three months in the quarter ended December 31, 2007:

 

Month


   Total Number of
Shares
Purchased
(1)

   Average
Price
Paid per
Share


   Total Number of
Shares Purchased
as Part of Publicly
Announced Plans

or Programs(2)

   Maximum
Number of Shares
that May Yet be
Purchased Under
the 2006

Program(3)

October 1 through 31, 2007

   1,038,457    $ 72.39    995,523    5,506,068

November 1 through 30, 2007

   5,078,968    $ 76.15    1,820,000    3,686,068

December 1 through 31, 2007

   1,650,050    $ 79.21    1,630,000    2,056,068
    
         
    

Total

   7,767,475           4,445,523     
    
         
    

(1)

 

Includes share repurchases under the Company’s 2006 Program and those associated with certain employee elections under the Company’s compensation and benefit programs. On October 3, 2007, the Company repurchased 435,523 shares at a weighted-average price of $71.57 from the Colgate-Palmolive Employees Retirement Income Plan in a private transaction.

(2)

 

The difference between the total number of shares purchased and the total number of shares purchased as part of publicly announced plans or programs is 3,321,952 shares, all of which relate to shares deemed tendered or surrendered to the Company to satisfy certain employee elections under its compensation and benefit programs.

(3)

 

The maximum number of shares reflects the 30 million shares authorized for repurchase under the 2006 Program less the cumulative number of shares that have been purchased under that program.

 

ITEM 6.   SELECTED FINANCIAL DATA

 

Refer to the information set forth under the caption “Historical Financial Summary” included on page 79 of this report.

 

 

12


Table of Contents

(Dollars in Millions Except Per Share Amounts)

 

ITEM 7.   MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

 

This excerpt taken from the CL 10-K filed Feb 23, 2007.

Issuer Purchases of Equity Securities

 

The Company repurchases its common stock under a share repurchase program that was approved by the Board of Directors and publicly announced in March 2006 (the 2006 Program). Under the 2006 Program, the Company is authorized to purchase up to 30 million shares of the Company’s common stock. The shares will be repurchased from time to time in open market transactions or privately negotiated transactions at the Company’s discretion, subject to market conditions, customary blackout periods and other factors. The Board’s authorization also provided for share repurchases on an ongoing basis associated with certain employee elections under the Company’s compensation and benefit programs.

 

The following table shows the stock repurchase activity for each of the three months in the quarter ended December 31, 2006:

 

Month


   Total Number of
Shares
Purchased
(1)

  

Average

Price

Paid per
Share


  

Total Number of

Shares Purchased
as Part of Publicly
Announced Plans

or Programs(2)


  

Maximum
Number of Shares
that May Yet be
Purchased Under
the 2006

Program(3)


October 1 through 31, 2006

   478,293    $ 62.58    440,000    22,411,591

November 1 through 30, 2006

   1,841,414    $ 65.15    1,840,000    20,571,591

December 1 through 31, 2006

   2,305,342    $ 65.42    2,300,000    18,271,591
    
         
    

Total

   4,625,049           4,580,000     
    
         
    

(1)

 

Includes share repurchases under the Company’s 2006 Program and those associated with certain employee elections under the Company’s compensation and benefit programs.

(2)

 

The difference between the total number of shares purchased and the total number of shares purchased as part of publicly announced plans or programs is 45,049 shares, all of which were repurchased by the Company in connection with certain employee elections under its compensation and benefit programs.

(3)

 

The maximum number of shares reflects the 30 million shares authorized for repurchase under the 2006 Program less the cumulative number of shares that have been purchased under that program.

 

ITEM 6.   SELECTED FINANCIAL DATA

 

Refer to the information set forth under the caption “Historical Financial Summary” included on page 73 of this report.

 

10


Table of Contents

(Dollars in Millions Except Per Share Amounts)

 

ITEM 7.   MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

 

This excerpt taken from the CL 10-K filed Feb 24, 2006.

Issuer Purchases of Equity Securities

 

The Company repurchases its common stock under a share repurchase program that was approved by the Board of Directors and publicly announced in October 2004 (the 2004 Program). Under the 2004 Program, the Company was authorized to purchase up to 20 million shares of the Company’s common stock through December 31, 2005. As the Company had not repurchased the full amount authorized under the 2004 Plan, in December 2005 the Board extended the term of the 2004 Plan through March 31, 2006. The Board’s October 2004 authorization also authorized share repurchases on an ongoing basis associated with certain employee elections under the Company’s compensation and benefit programs.

 

The following table shows the stock repurchase activity for each of the three months in the quarter ended December 31, 2005:

 

Month


   Total Number of
Shares
Purchased
(1)

  

Average

Price

Paid per
Share


  

Total Number of

Shares Purchased
as Part of Publicly
Announced Plans

or Programs(2)


  

Maximum
Number of Shares
that May Yet be
Purchased Under
the 2004

Program(3)


October 1 through 31, 2005

   818,388    $ 52.42    780,000    4,433,783

November 1 through 30, 2005

   944,807    $ 53.24    940,000    3,493,783

December 1 through 31, 2005

   1,011,052    $ 55.45    1,010,000    2,483,783
    
         
    

Total

   2,774,247           2,730,000     
    
         
    

(1)   Includes share repurchases under the Company’s 2004 Program and those associated with certain employee elections under the Company’s compensation and benefit programs.
(2)   The difference between the total number of shares purchased and the total number of shares purchased as part of publicly announced plans or programs is 44,247 shares, all of which were repurchased by the Company in connection with certain employee elections under its compensation and benefit programs. Such share repurchases were approved by the Board in October 2004.
(3)   The maximum number of shares reflects the 20 million shares authorized for repurchase under the 2004 Program less the cumulative number of shares that were purchased under that program.

 

ITEM 6.   SELECTED FINANCIAL DATA

 

Refer to the information set forth under the caption “Historical Financial Summary” included on page 68 of this report.

 

10


(Dollars in Millions Except Per Share Amounts)

 

ITEM 7.   MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

 

This excerpt taken from the CL 10-K filed Feb 25, 2005.

Issuer Purchases of Equity Securities

 

The Company repurchases its common stock under a share repurchase program that was approved by the Board of Directors and publicly announced in October 2004 (the 2004 Program). Under the 2004 Program, the Company is authorized to purchase up to 20 million shares of the Company’s common stock through December 31, 2005. The Board also authorized share repurchases on an ongoing basis associated with certain employee elections under the Company’s compensation and benefit programs.

 

Prior to the Board’s approval of the 2004 Program, the Company purchased its shares under a program that was approved by the Board of Directors in March 1993 and publicly announced in May 1993 (the 1993 Program). Under the 1993 Program, the Board authorized the Company to purchase such number of shares needed, in management’s discretion, to fulfill the requirements of the Company’s compensation and benefit plans. In the past, the Board has also approved several special share repurchase authorizations from time to time that have been fully utilized. The Board terminated the 1993 Program in October 2004 when it approved the 2004 Program.

 

The following table shows the stock repurchase activity for each of the three months in the quarter ended December 31, 2004:

 

Month


   Total Number of
Shares
Purchased


   

Average

Price

Paid per
Share


  

Total Number of

Shares Purchased
as Part of Publicly
Announced Plans

or Programs


   

Maximum
Number of Shares
that May Yet be
Purchased Under
the Plans

or Programs(2)


October 1 through 31, 2004

   1,350,847 (1)   $ 44.59    1,350,847     19,360,000

November 1 through 30, 2004

   1,028,856 (3)   $ 46.60    1,018,272 (4)   18,341,728

December 1 through 31, 2004

   1,765,000     $ 49.84    1,765,000     16,576,728
    

        

   

Total

   4,144,703            4,134,119 (4)    
    

        

   

(1)   Includes shares purchased under the 1993 Program and the 2004 Program.
(2)   The maximum number of shares reflects the 20 million shares authorized for repurchase under the 2004 Program less the cumulative number of shares that were purchased under that program.
(3)   Includes share repurchases under the Company’s 2004 Program and those associated with certain employee elections under the Company’s compensation and benefit programs.
(4)   The difference between the total number of shares purchased and the total number of shares purchased as part of publicly announced plans or programs is 10,584 shares, all of which were repurchased by the Company in connection with certain employee elections under its compensation and benefit programs. These share repurchases were approved by the Board in October 2004.

 

ITEM 6.   SELECTED FINANCIAL DATA

 

Refer to the information set forth under the caption “Historical Financial Summary” included on page 64 of this report.

 

6


Table of Contents

(Dollars in Millions Except Per Share Amounts)

 

ITEM 7.   MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

 

Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki