Our presentation and the related webcast contains non-GAAP financial measures, which differ from our reported results prepared in accordance U.S. generally accepted accounting principles (GAAP). These non-GAAP financial measures of operating results for the three months ended March 31, 2013 exclude the impact of the following items: charges resulting from the implementation of the 2012 Restructuring Program, the one-time charge resulting from the Venezuela devaluation, costs related to the sale of land in Mexico and costs associated with various business realignment and other cost-saving initiatives. A complete, quantitative reconciliation between our reported results and these non-GAAP financial measures is available in the “For Investors” section of our web site at http://www.colgatepalmolive.com.
The Company also reports organic sales growth, which excludes the impact of foreign exchange, acquisitions and divestments. See the “For Investors” section of our web site at http://www.colgatepalmolive.com for a comparison of organic sales growth to sales growth in accordance with GAAP.
The Company defines free cash flow before dividends as Net cash provided by operations less Capital expenditures. Free cash flow before dividends is not a measure of cash available for discretionary expenditures since the Company has certain non-discretionary obligations such as debt service that are not deducted from the measure. Free cash flow before dividends is not a GAAP measurement and may not be comparable to similarly titled measures reported by other companies. See the “For Investors” section of our web site at http://www.colgatepalmolive.com for a comparison of free cash flow before dividends to Net cash provided by operations as reported in accordance with GAAP.
Our presentation and the related webcast may also contain forward-looking statements. Such statements may relate, for example, to sales or unit volume growth, organic sales growth, profit or profit margin growth, earnings growth, financial goals, the impact of currency devaluations, exchange controls, price controls and labor unrest, including in Venezuela, cost-reduction plans including the 2012 Restructuring Program, tax rates, new product introductions or commercial investment levels. These statements are made on the basis of our views and assumptions as of this time and we undertake no obligation to update these statements. We caution investors that any such forward-looking statements are not guarantees of future performance and that actual events or results may differ materially from those statements. Investors should consult the Company’s filings with the Securities and Exchange Commission (including the information set forth under the caption “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012) for information about certain factors that could cause such differences. Copies of these filings may be obtained upon request from the Company’s Investor Relations Department or on the Company’s web site at http://www.colgatepalmolive.com.