Company Quick10K Filing
Kimberly Clark
Price137.80 EPS5
Shares346 P/E29
MCap47,679 P/FCF26
Net Debt5,782 EBIT2,306
TEV53,461 TEV/EBIT23
TTM 2019-09-30, in MM, except price, ratios
10-Q 2020-06-30 Filed 2020-07-23
10-Q 2020-03-31 Filed 2020-04-22
10-K 2019-12-31 Filed 2020-02-13
10-Q 2019-09-30 Filed 2019-10-22
10-Q 2019-06-30 Filed 2019-07-23
10-Q 2019-03-31 Filed 2019-04-22
10-K 2018-12-31 Filed 2019-02-07
10-Q 2018-09-30 Filed 2018-10-22
10-Q 2018-06-30 Filed 2018-07-24
10-Q 2018-03-31 Filed 2018-04-23
10-K 2017-12-31 Filed 2018-02-08
10-Q 2017-09-30 Filed 2017-10-23
10-Q 2017-06-30 Filed 2017-07-25
10-Q 2017-03-31 Filed 2017-04-24
10-K 2016-12-31 Filed 2017-02-08
10-Q 2016-09-30 Filed 2016-10-24
10-Q 2016-06-30 Filed 2016-07-25
10-Q 2016-04-22 Filed 2016-04-22
10-K 2015-12-31 Filed 2016-02-11
10-Q 2015-09-30 Filed 2015-10-21
10-Q 2015-06-30 Filed 2015-07-23
10-Q 2015-03-31 Filed 2015-04-21
10-K 2014-12-31 Filed 2015-02-18
10-Q 2014-09-30 Filed 2014-10-21
10-Q 2014-06-30 Filed 2014-07-22
10-Q 2014-03-31 Filed 2014-04-21
10-K 2013-12-31 Filed 2014-02-14
10-Q 2013-09-30 Filed 2013-11-01
10-Q 2013-06-30 Filed 2013-08-02
10-Q 2013-05-02 Filed 2013-05-02
10-K 2012-12-31 Filed 2013-02-22
10-Q 2012-09-30 Filed 2012-11-05
10-Q 2012-06-30 Filed 2012-08-03
10-Q 2012-03-31 Filed 2012-05-04
10-K 2011-12-31 Filed 2012-02-29
10-Q 2011-09-30 Filed 2011-11-04
10-Q 2011-06-30 Filed 2011-08-05
10-Q 2011-03-31 Filed 2011-05-09
10-K 2010-12-31 Filed 2011-02-23
10-Q 2010-06-30 Filed 2010-08-09
10-Q 2010-03-31 Filed 2010-05-07
10-K 2009-12-31 Filed 2010-02-24
8-K 2020-07-23 Earnings, Exhibits
8-K 2020-04-29
8-K 2020-04-22
8-K 2020-03-24
8-K 2020-03-24
8-K 2020-02-07
8-K 2020-01-23
8-K 2019-12-16
8-K 2019-11-21
8-K 2019-10-22
8-K 2019-09-18
8-K 2019-07-23
8-K 2019-05-03
8-K 2019-04-23
8-K 2019-04-22
8-K 2019-03-08
8-K 2019-02-22
8-K 2019-02-04
8-K 2019-01-23
8-K 2018-10-24
8-K 2018-10-22
8-K 2018-10-22
8-K 2018-09-12
8-K 2018-07-24
8-K 2018-05-11
8-K 2018-04-23
8-K 2018-02-22
8-K 2018-01-23

KMB 10Q Quarterly Report

Part I - Financial Information
Item 1. Financial Statements
Note 1. Accounting Policies
Note 2. 2018 Global Restructuring Program
Note 3. Fair Value Information
Note 4. Earnings per Share ("Eps")
Note 5. Stockholders' Equity
Note 6. Objectives and Strategies for Using Derivatives
Note 7. Business Segment Information
Note 8. Supplemental Balance Sheet Data
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 4. Controls and Procedures
Part II - Other Information
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Item 6. Exhibits
EX-10.N kmb10qq2exhibit10n2020.htm
EX-10.R kmb10qq2exhibit10r2020.htm
EX-31.A kmb10qq22020exhibit31a.htm
EX-31.B kmb10qq22020exhibit31b.htm
EX-32.A kmb10qq22020exhibit32a.htm
EX-32.B kmb10qq22020exhibit32b.htm

Kimberly Clark Earnings 2020-06-30

Balance SheetIncome StatementCash Flow
2015117302012201420172020
Assets, Equity
10.07.95.93.81.8-0.32012201420172020
Rev, G Profit, Net Income
1.20.80.4-0.1-0.5-0.92012201420172020
Ops, Inv, Fin

kmb-20200630
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q
(Mark One)

 QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended June 30, 2020
OR
 TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from ________ to ________  
Commission file number 1-225
kmb-20200630_g1.jpg
KIMBERLY CLARK CORPORATON
(Exact name of registrant as specified in its charter)

Delaware 39-0394230
(State or other jurisdiction of
incorporation)
 (I.R.S. Employer
Identification No.)
P.O. Box 619100
Dallas, TX
75261-9100
(Address of principal executive offices)
(Zip code)
(972) 281-1200
(Registrant's telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common StockKMBNew York Stock Exchange
0.625% Notes due 2024KMB24New York Stock Exchange
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes  x    No  o
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).    Yes  x    No  o
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act.
Large accelerated filer
x
  Accelerated filer
Non-accelerated filer  Smaller reporting company
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes      No x
As of July 16, 2020, there were 341,047,156 shares of the Corporation's common stock outstanding.



Table of Contents
 










PART I – FINANCIAL INFORMATION
Item 1. Financial Statements
KIMBERLY-CLARK CORPORATION AND SUBSIDIARIES
CONSOLIDATED INCOME STATEMENTS
(Unaudited)

Three Months Ended
June 30
Six Months Ended
June 30
(Millions of dollars, except per share amounts)2020201920202019
Net Sales$4,612  $4,594  $9,621  $9,227  
Cost of products sold2,835  3,108  6,053  6,313  
Gross Profit1,777  1,486  3,568  2,914  
Marketing, research and general expenses844  811  1,717  1,580  
Other (income) and expense, net8  5  22  9  
Operating Profit925  670  1,829  1,325  
Nonoperating expense(6) (11) (17) (22) 
Interest income2  2  4  5  
Interest expense(65) (67) (126) (132) 
Income Before Income Taxes and Equity Interests856  594  1,690  1,176  
Provision for income taxes(199) (132) (396) (275) 
Income Before Equity Interests657  462  1,294  901  
Share of net income of equity companies35  33  73  60  
Net Income692  495  1,367  961  
Net income attributable to noncontrolling interests(11) (10) (26) (22) 
Net Income Attributable to Kimberly-Clark Corporation$681  $485  $1,341  $939  
Per Share Basis
Net Income Attributable to Kimberly-Clark Corporation
Basic$2.00  $1.41  $3.93  $2.73  
Diluted$1.99  $1.40  $3.92  $2.71  
See notes to the unaudited interim consolidated financial statements.

1


KIMBERLY-CLARK CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(Unaudited)

 Three Months Ended
June 30
Six Months Ended
June 30
(Millions of dollars)2020201920202019
Net Income$692  $495  $1,367  $961  
Other Comprehensive Income (Loss), Net of Tax
   Unrealized currency translation adjustments125  (4) (274) 22  
   Employee postretirement benefits5  26  39  22  
   Other(24) (3) 8  (20) 
Total Other Comprehensive Income (Loss), Net of Tax106  19  (227) 24  
Comprehensive Income798  514  1,140  985  
   Comprehensive (income) loss attributable to noncontrolling interests(15) (9) (18) (16) 
Comprehensive Income Attributable to Kimberly-Clark Corporation$783  $505  $1,122  $969  
See notes to the unaudited interim consolidated financial statements.

2


KIMBERLY-CLARK CORPORATION AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(2020 Data is Unaudited)

(Millions of dollars)June 30, 2020December 31, 2019
ASSETS
Current Assets
Cash and cash equivalents$1,448  $442  
Accounts receivable, net2,024  2,263  
Inventories1,825  1,790  
Other current assets607  562  
Total Current Assets5,904  5,057  
Property, Plant and Equipment, Net7,366  7,450  
Investments in Equity Companies319  268  
Goodwill1,401  1,467  
Other Assets1,183  1,041  
TOTAL ASSETS$16,173  $15,283  
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities
Debt payable within one year$850  $1,534  
Trade accounts payable3,032  3,055  
Accrued expenses and other current liabilities2,252  1,978  
Dividends payable360  352  
Total Current Liabilities6,494  6,919  
Long-Term Debt7,223  6,213  
Noncurrent Employee Benefits859  897  
Deferred Income Taxes527  511  
Other Liabilities546  520  
Redeemable Preferred Securities of Subsidiaries29  29  
Stockholders' Equity
Kimberly-Clark Corporation
Preferred stock - no par value - authorized 20.0 million shares, none issued    
Common stock - $1.25 par value - authorized 1.2 billion shares; issued 378.6 million shares at June 30, 2020 and December 31, 2019
473  473  
Additional paid-in capital554  556  
Common stock held in treasury, at cost - 37.6 and 37.1 million shares at June 30, 2020 and December 31, 2019, respectively
(4,545) (4,454) 
Retained earnings7,299  6,686  
Accumulated other comprehensive income (loss)(3,513) (3,294) 
Total Kimberly-Clark Corporation Stockholders' Equity268  (33) 
Noncontrolling Interests227  227  
Total Stockholders' Equity495  194  
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $16,173  $15,283  
See notes to the unaudited interim consolidated financial statements.
3


KIMBERLY-CLARK CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY
(Unaudited)



Three Months Ended June 30, 2020
(Millions of dollars, shares in thousands, except per share amounts)Common Stock
Issued
Additional Paid-in CapitalTreasury StockRetained EarningsAccumulated Other Comprehensive Income (Loss)Non-controlling InterestsTotal Stockholders' Equity
SharesAmountSharesAmount
Balance at March 31, 2020378,597  $473  $559  37,761  $(4,562) $6,978  $(3,615) $213  $46  
Net income in stockholders' equity, excludes redeemable interests' share—  —  —  —  —  681  —  10  691  
Other comprehensive income, net of tax,
excludes redeemable interests' share
—  —  —  —  —  —  102  4  106  
Stock-based awards exercised or vested—  —  (38) (557) 66  —  —  —  28  
Shares repurchased—  —  —  370  (49) —  —  —  (49) 
Recognition of stock-based compensation—  —  38  —  —  —  —  —  38  
Dividends declared ($1.07 per share)—  —  —  —  —  (365) —  —  (365) 
Other—  —  (5) —  —  5  —  —    
Balance at June 30, 2020378,597  $473  $554  37,574  $(4,545) $7,299  $(3,513) $227  $495  


Six Months Ended June 30, 2020
(Millions of dollars, shares in thousands, except per share amounts)Common Stock
Issued
Additional Paid-in CapitalTreasury StockRetained EarningsAccumulated Other Comprehensive Income (Loss)Non-controlling InterestsTotal Stockholders' Equity
SharesAmountSharesAmount
Balance at December 31, 2019378,597  $473  $556  37,149  $(4,454) $6,686  $(3,294) $227  $194  
Net income in stockholders' equity, excludes redeemable interests' share—  —  —  —  —  1,341  —  24  1,365  
Other comprehensive income, net of tax, excludes redeemable interests' share—  —  —  —  —  —  (219) (8) (227) 
Stock-based awards exercised or vested—  —  (52) (1,622) 187  —  —  —  135  
Shares repurchased—  —  —  2,047  (278) —  —  —  (278) 
Recognition of stock-based compensation—  —  53  —  —  —  —  —  53  
Dividends declared ($2.14 per share)—  —  —  —  —  (730) —  (17) (747) 
Other—  —  (3) —  —  2  —  1    
Balance at June 30, 2020378,597  $473  $554  37,574  $(4,545) $7,299  $(3,513) $227  $495  
See notes to the unaudited interim consolidated financial statements.
4


KIMBERLY-CLARK CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY
(Unaudited)




Three Months Ended June 30, 2019
(Millions of dollars, shares in thousands, except per share amounts)Common Stock
Issued
Additional Paid-in CapitalTreasury StockRetained EarningsAccumulated Other Comprehensive Income (Loss)Non-controlling InterestsTotal Stockholders' Equity
SharesAmountSharesAmount
Balance at March 31, 2019378,597  $473  $538  34,657  $(4,075) $6,048  $(3,289) $223  $(82) 
Net income in stockholders' equity, excludes redeemable interests' share—  —  —  —  —  485  —  9  494  
Other comprehensive income, net of tax, excludes redeemable interests' share—  —  —  —  —  —  20  (2) 18  
Stock-based awards exercised or vested—  —  (60) (1,672) 192  —  —  —  132  
Shares repurchased—  —  —  1,396  (179) —  —  —  (179) 
Recognition of stock-based compensation—  —  31  —  —  —  —  —  31  
Dividends declared ($1.03 per share)—  —  —  —  —  (355) —  —  (355) 
Other—  —  1  —  —  (8) —  (2) (9) 
Balance at June 30, 2019378,597  $473  $510  34,381  $(4,062) $6,170  $(3,269) $228  $50  


Six Months Ended June 30, 2019
(Millions of dollars, shares in thousands, except per share amounts)Common Stock
Issued
Additional Paid-in CapitalTreasury StockRetained EarningsAccumulated Other Comprehensive Income (Loss)Non-controlling InterestsTotal Stockholders' Equity
SharesAmountSharesAmount
Balance at December 31, 2018378,597  $473  $548  33,635  $(3,956) $5,947  $(3,299) $241  $(46) 
Net income in stockholders' equity, excludes redeemable interests' share—  —  —  —  —  939  —  20  959  
Other comprehensive income, net of tax, excludes redeemable interests' share—  —  —  —  —  —  30  (7) 23  
Stock-based awards exercised or vested—  —  (87) (2,159) 247  —  —  —  160  
Shares repurchased—  —  —  2,905  (353) —  —  —  (353) 
Recognition of stock-based compensation—  —  48  —  —  —  —  —  48  
Dividends declared ($2.06 per share)—  —  —  —  —  (709) —  (24) (733) 
Other—  —  1  —  —  (7) —  (2) (8) 
Balance at June 30, 2019378,597  $473  $510  34,381  $(4,062) $6,170  $(3,269) $228  $50  
See notes to the unaudited interim consolidated financial statements.
5


KIMBERLY-CLARK CORPORATION AND SUBSIDIARIES
CONSOLIDATED CASH FLOW STATEMENTS
(Unaudited)
 
Six Months Ended
June 30
(Millions of dollars)20202019
Operating Activities
Net income$1,367  $961  
Depreciation and amortization414  470  
Stock-based compensation54  48  
Deferre