Kimberly-Clark 2007 Annual Report Download - page 73

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KIMBERLY-CLARK CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
Other Intangible Assets
Intangible assets subject to amortization are included in other assets and consist of the following at
December 31:
2007 2006
Gross
Carrying
Amount
Accumulated
Amortization
Gross
Carrying
Amount
Accumulated
Amortization
(Millions of dollars)
Trademarks .......................................... $222.4 $122.0 $211.7 $113.0
Patents .............................................. 54.0 39.2 52.0 32.9
Other ............................................... 31.5 15.0 24.9 9.9
Total ............................................ $307.9 $176.2 $288.6 $155.8
Amortization expense for intangible assets was approximately $14 million in 2007, $39 million in 2006 and
$26 million in 2005. Amortization expense is estimated to be approximately $12 million in 2008, $11 million in
2009, $8 million in 2010, and $7 million in both 2011 and 2012.
Note 4. Debt
Long-term debt is comprised of the following:
Weighted-
Average
Interest
Rate Maturities
December 31
2007 2006
(Millions of dollars)
Notes and debentures .................................. 5.80% 2009 – 2038 $3,958.6 $2,145.1
Dealer remarketable securities ........................... 4.42% 2008 – 2016 200.0 200.0
Industrial development revenue bonds ..................... 3.61% 2009 – 2037 280.4 297.6
Bank loans and other financings in various currencies ......... 8.05% 2008 – 2031 196.0 170.5
Total long-term debt ................................... 4,635.0 2,813.2
Less current portion ................................... 241.1 537.2
Long-term portion ..................................... $4,393.9 $2,276.0
Fair value of total long-term debt, based on quoted market prices for the same or similar debt issues, was
approximately $4.8 billion and $2.8 billion at December 31, 2007 and 2006, respectively. Scheduled maturities
of long-term debt for the next five years are $241.1 million in 2008, $69.9 million in 2009, $488.3 million in
2010, $9.1 million in 2011, and $405.4 million in 2012.
During the third quarter of 2007, the Corporation issued $450 million Floating Rate Notes due
July 30, 2010; $950 million 6.125% Notes due August 1, 2017; and $700 million 6.625% Notes due August 1,
2037. The Corporation used the net proceeds from the issuance of these notes primarily to fund the accelerated
share repurchase agreement (the “ASR Agreement”) discussed in Note 8. The balance of the net proceeds was
used by the Corporation to repay a portion of the long-term debt that matured on August 1, 2007.
During the fourth quarter of 2006, the Corporation issued $200 million of dealer remarketable securities that
have a final maturity in 2016. These securities are classified as current portion of long-term debt as the result of
the remarketing provisions of these debt instruments, which require that each year the securities either be
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