According to Colgate’s 2013 10-K, what factors led to lower effective non-GAAP tax rate during the year as compared to the compa

Question

Darina [25.2K]

2 years ago

9

According to Colgate’s 2013 10-K, what factors led to lower effective non-GAAP tax rate during the year as compared to the compa

ny’s effective GAAP tax rate?

Business

1 answer:

UkoKoshka [18] · Answer 1 · 2023-08-31T10:18:12+03:00

Answer:

2012 restructuring program

Venezuela devaluation charge

Business realignment and other cost saving initiatives

Charge associated with European competition law matter.

Explanation:

Colgate has been through restructuring program in 2012, which has contributed to reduced non-GAAP tax rate. There was Venezuela devaluation charge, Sale of land in Mexico and charge with European competition law matter. These all contributed to effective lower non-GAAP tax rate of the company.