XML 20 R5.htm IDEA: XBRL DOCUMENT v3.22.0.1
Consolidated Balance Sheet - USD ($)
$ in Millions
Dec. 31, 2021
Dec. 31, 2020
Current Assets    
Cash and cash equivalents $ 270 $ 303
Accounts receivable, net 2,207 2,235
Inventories 2,239 1,903
Other current assets 849 733
Total Current Assets 5,565 5,174
Property, Plant and Equipment, Net 8,097 8,042
Investments in Equity Companies 290 300
Goodwill [1] 1,840 1,895
Intangible Assets, Net (Excluding Goodwill) 810 832
Other Assets 1,235 1,280
TOTAL ASSETS 17,837 17,523
Current Liabilities    
Debt payable within one year 433 486
Trade accounts payable 3,840 3,336
Accrued expenses and other current liabilities 2,096 2,262
Dividends payable 380 359
Total Current Liabilities 6,749 6,443
Long-Term Debt 8,141 7,878
Noncurrent Employee Benefits 809 864
Deferred Income Tax Liabilities, Net 694 723
Other Liabilities 681 718
Redeemable Preferred Securities of Subsidiaries $ 26 28
Preferred stock, shares issued 0  
Preferred stock, shares authorized 20,000,000.0  
Preferred stock, par value per share $ 0  
Common stock, shares issued 378,600,000  
Common stock, shares authorized 1,200,000,000  
Common stock, par value per share $ 1.25  
Stockholders' Equity    
Preferred stock - no par value - authorized 20.0 million shares, none issued $ 0 0
Common stock - $1.25 par value - authorized 1.2 billion shares;
issued 378.6 million shares at December 31, 2021 and 2020 473 473
Additional paid-in capital $ 605 $ 657
Common stock held in treasury, shares 41,800,000 39,900,000
Common stock held in treasury, at cost - 41.8 and 39.9 million
shares at December 31, 2021 and 2020, respectively $ (5,183) $ (4,899)
Retained earnings 7,858 7,567
Accumulated other comprehensive income (loss) (3,239) (3,172)
Total Kimberly-Clark Corporation Stockholders' Equity 514 626
Noncontrolling Interests 223 243
Total Stockholders' Equity 737 869
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 17,837 $ 17,523
[1] Stockholders' Equity
The changes in the components of AOCI attributable to Kimberly-Clark, net of tax, are as follows:
Unrealized TranslationDefined Benefit Pension PlansOther Postretirement Benefit PlansCash Flow Hedges and Other
Balance as of December 31, 2019$(2,271)$(979)$(13)$(31)
Other comprehensive income (loss) before reclassifications
114 4 (26)(31)
(Income) loss reclassified from AOCI— 63 (a)(1)(a)(1)
Net current period other comprehensive income (loss)114 67 (27)(32)
Balance as of December 31, 2020(2,157)(912)(40)(63)
Other comprehensive income (loss) before reclassifications
(265)37 9 53 
(Income) loss reclassified from AOCI— 72 (a)(3)(a)30 
Net current period other comprehensive income (loss)(265)109 6 83 
Balance as of December 31, 2021$(2,422)$(803)$(34)$20 
(a)    Included in computation of net periodic pension and other postretirement benefits costs (see Note 8).
Included in the above defined benefit pension plans and other postretirement benefit plans balances as of December 31, 2021 is $835 and $2 of unrecognized net actuarial loss and unrecognized net prior service credit, respectively.
The changes in the components of AOCI attributable to Kimberly-Clark, including the tax effect, are as follows:
Year Ended December 31
202120202019
Unrealized translation$(248)$98 $21 
Tax effect(17)16 5 
(265)114 26 
Defined benefit pension plans
Unrecognized net actuarial loss and transition amount
Funded status recognition16 24 (17)
Amortization
37 41 44 
Settlements and curtailments91 49 46 
Currency and other10 (26)(13)
154 88 60 
Unrecognized prior service cost/credit
Funded status recognition(2)2 (1)
Amortization
(4)(4)(5)
Curtailments(3)— (1)
Currency and other— 1 (2)
(9)(1)(9)
Tax effect(36)(20)(13)
109 67 38 
Other postretirement benefit plans
Unrecognized net actuarial loss and transition amount and other
12 (35)(35)
Tax effect(6)8 10 
6 (27)(25)
Cash flow hedges and other
Recognition of effective portion of hedges
70 (32)(23)
Amortization
39 (2)(16)
Currency and other(4)(5)(1)
Tax effect(22)7 6 
83 (32)(34)
Change in AOCI
$(67)$122 $5 
Amounts are reclassified from AOCI into Cost of products sold, Nonoperating expense, Interest expense, or Other (income) and expense, net, as applicable, in the consolidated income statement.
Net unrealized currency gains or losses resulting from the translation of assets and liabilities of foreign subsidiaries, except those in highly inflationary economies, are recorded in AOCI. For these operations, changes in exchange rates generally do not affect cash flows; therefore, unrealized translation adjustments are recorded in AOCI rather than net income. Upon sale or substantially complete liquidation of any of these subsidiaries, the applicable unrealized translation adjustment would be removed from AOCI and reported as part of the gain or loss on the sale or liquidation. The change in unrealized translation in 2021 is primarily due to the weakening of various foreign currencies versus the U.S. dollar, particularly the Korean won, the euro, the Australian dollar, and Brazilian real. Also included in unrealized translation amounts are the effects of foreign exchange rate changes on intercompany balances of a long-term investment nature and transactions designated as hedges of net foreign investments.