Kimberly-Clark 2011 Annual Report Download

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2011 Annual Report on Form 10-K

Table of contents

  • Page 1
    2011 Annual Report on Form 10-K

  • Page 2

  • Page 3
    ... of incorporation or organization) 39-0394230 (I.R.S. Employer Identification No.) P. O. Box 619100, Dallas, Texas (Address of principal executive offices) 75261-9100 (Zip Code) Registrant's telephone number, including area code: (972) 281-1200 Securities registered pursuant to Section 12...

  • Page 4
    KIMBERLY-CLARK CORPORATION      TABLE OF CONTENTS Page 3DUW, ,WHP ,WHP$ ,WHP% ,WHP ,WHP ,WHP 3DUW,, ,WHP ,WHP ,WHP ,WHP$ ,WHP ,WHP ,WHP$ ,WHP% 3DUW,,, ,WHP ,WHP ,WHP ,WHP ,...

  • Page 5
    ...RUDGGLWLRQDOLQIRUPDWLRQVHH0' $DQG,WHP1RWHWRWKH &RQVROLGDWHG)LQDQFLDO6WDWHPHQWV Description of Kimberly-Clark...WUDLQLQJ DQG\RXWKSDQWVVZLPSDQWVEDE\ZLSHVIHPLQLQHDQGLQFRQWLQHQFHFDUH...3RLVH DQGRWKHUEUDQGQDPHV Consumer TissueRIIHUVDZLGHYDULHW\RILQQRYDWLYH...

  • Page 6
    ...ZHVHHNSDWHQWDQGWUDGHPDUNSURWHFWLRQE\DOODYDLODEOHPHDQVLQFOXGLQJUHJLVWUDWLRQ   Raw Materials &HOOXORVHILEHULQWKHIRUPRINUDIWSXOSRUILEHUUHF\FOHGIURPUHFRYHUHGZDVWHSDSHULVWKHSULPDU\UDZPDWHULDOIRURXU WLVVXHSURGXFWVDQGLVDFRPSRQHQWRIGLVSRVDEOHGLDSHUVWUDLQLQJ...

  • Page 7
    ...FRVWVJRYHUQPHQWDOSD\PHQWVDQG...HHVDVRI'HFHPEHU Available Information :H PDNH ILQDQFLDO LQIRUPDWLRQ...ZHGRQRWSUHVHQWO\NQRZ DERXWRUWKDWZHSUHVHQWO\EHOLHYHDUHQRWPDWHULDO...services, without corresponding increases in our selling prices, could adversely affect our financial...

  • Page 8
    ...VLWHV2XU FRQWUDFWVZLWKHQHUJ\VXSSOLHUVYDU\DVWRSULFHSD\PHQWWHUPVTXDQWLWLHVDQGGXUDWLRQ2XUHQHUJ\FRVWVDUHDOVR...an adverse effect on our financial results.  :HFRPSHWHLQKLJKO\FRPSHWLWLYHPDUNHWVDJDLQVWZHOONQRZQEUDQGHGSURGXFWVDQGORZFRVWRUSULYDWHODEHOSURGXFWV ERWK...

  • Page 9
    ...)RRGDQG'UXJ$GPLQLVWUDWLRQDQGFRPSDUDEOHIRUHLJQDJHQFLHVDVZHOODVSRWHQWLDOOLWLJDWLRQ$GYHUVHUHJXODWRU\DFWLRQ LQFOXGLQJDUHFDOORUSURGXFWOLDELOLW\RURWKHUOLWLJDWLRQPD\DGYHUVHO\DIIHFWRXUILQDQFLDOFRQGLWLRQDQGEXVLQHVVRSHUDWLRQV  2XUVDOHVDQGUHVXOWVRIRSHUDWLRQVDOVR...

  • Page 10
    ..., social and economic instability, which may adversely affect our financial results.  %HFDXVHZHDQGRXUHTXLW\FRPSDQLHVKDYHPDQXIDFWXULQJ...DQGUHODWHGH[SRVXUHVLQ9HQH]XHOD   Damage to the reputation of Kimberly-Clark or to one or more of our brands could adversely affect our business...

  • Page 11
    ...WKHVHPDQXIDFWXUHUVRUVHUYLFH SURYLGHUVWRRWKHUZLVHVDWLVIDFWRULO\SHUIRUPFRXOGDGYHUVHO\LPSDFWRXURSHUDWLRQVVDOHVSD\PHQWVWRRXUYHQGRUVHPSOR\HHV DQGRWKHUVDQGRXUDELOLW\WRUHSRUWILQDQFLDODQGPDQDJHPHQWLQIRUPDWLRQRQDWLPHO\DQGDFFXUDWHEDVLV If our information technology...

  • Page 12
    ...WKHVHIDFLOLWLHVDUHDVIROORZV Products Produced: Number of Facilities 7LVVXHLQFOXGLQJFRQVXPHUWLVVXHDQG.&...DGYHUVHHIIHFW RQRXUEXVLQHVVILQDQFLDOFRQGLWLRQUHVXOWVRIRSHUDWLRQVRUOLTXLGLW\    EXECUTIVE OFFICERS OF THE REGISTRANT 7KHQDPHVDQGDJHVRIRXUH[HFXWLYHRIILFHUV...

  • Page 13
    ....&3(XURSHLQ3UHVLGHQW.&31RUWK$PHULFDLQ 3UHVLGHQW².&3URIHVVLRQDO1RUWK$WODQWLFLQDQG3UHVLGHQW²*OREDO.&3URIHVVLRQDOLQ Elane B. StockZDVHOHFWHG6HQLRU9LFH3UHVLGHQWDQG&KLHI6WUDWHJ\2IILFHULQ6HSWHPEHU6KHLVUHVSRQVLEOHIRU OHDGLQJWKH...

  • Page 14
    PART I &RQWLQXHG ITEM 4. MINE SAFETY DISCLOSURES 1RWDSSOLFDEOH 

  • Page 15
    ... REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES ...KROGHUVRIUHFRUGRIRXUFRPPRQVWRFN )RULQIRUPDWLRQUHODWLQJWRVHFXULWLHVDXWKRUL]HGIRULVVXDQFH... FINANCIAL DATA  Year Ended December 31 (In Millions, except per share amounts) 2011 2010 ...

  • Page 16
    ... &RQWLQXHG ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS   Introduction 7KLV...SRVLWLRQVLQ3HUVRQDO&DUHE\OHYHUDJLQJRXUEUDQGVDQGSURYLGLQJLQQRYDWLRQV ‡ )RU&RQVXPHU7LVVXHZHVHHNWREULQJGLIIHUHQWLDWHGYDOXHDGGHGLQQRYDWLRQVWRJURZ...

  • Page 17
    ...KHOSHGLPSURYHRXUEUDQGV PDUNHWSRVLWLRQV,QWKH86 ZHLPSURYHGRUPDLQWDLQHGPDUNHWVKDUHLQWKHPDMRULW\RIRXUFRQVXPHUFDWHJRULHV:HDOVR... )DFWRUV´LQWKLV)RUP.IRUDGGLWLRQDOLQIRUPDWLRQ  Overview of 2011 Results ‡ ‡ ‡ ‡ 1HWVDOHVLQFUHDVHGSHUFHQWGXHWRIDYRUDEOH...

  • Page 18
    ...Results of Operations and Related Information  7KLVVHFWLRQFRQWDLQV...20,846     By Geographic Area Year Ended December 31 2011 2010 (Millions of dollars) 2009 8QLWHG6WDWHV DQDGD ...ZHUH HVVHQWLDOO\IODWDVLPSURYHPHQWVLQEDE\ZLSHVDGXOWLQFRQWLQHQFHSURGXFWVDQGIHPLQLQH...

  • Page 19
    ...GHYLFHV ‡   ‡ ‡  Commentary: 2010 versus 2009  Percent Change in Net Sales Versus Prior Year Changes Due To Total Change Volume Growth Net ...UHVXOWHGIURPKLJKHUVDOHVRI3XOO8SV WUDLQLQJSDQWVDQGEDE\ZLSHVIHPLQLQHFDUHDQGDGXOWLQFRQWLQHQFHSURGXFWVLQFOXGLQJEHQHILWVIURP...

  • Page 20
    ... 2WKHU LQFRPH DQGH[SHQVHQHW RUSRUDWH 2WKHU RQVROLGDWHG  1,526  775 487 219 (51) (616) 2,442  By Geographic Area Year Ended December 31 2011 2010 (Millions of dollars) 2009 8QLWHG6WDWHV DQDGD XURSH VLD/DWLQ$PHULFDDQGRWKHU 2WKHU LQFRPH DQGH[SHQVHQHW RUSRUDWH...

  • Page 21
    ...II &RQWLQXHG Commentary: 2011 versus 2010  Percentage Change in Operating Profit Versus Prior Year Change Due To Total ...RXUFRQVXPHUWLVVXHDQG.&3 EXVLQHVVHV7KHUHVWUXFWXULQJLQYROYHVWKHVWUHDPOLQLQJVDOHRUFORVXUHRIVL[RIRXUPDQXIDFWXULQJIDFLOLWLHVDURXQGWKHZRUOG ,QFRQMXQFWLRQ...

  • Page 22
    ...ORVVHVRIPLOOLRQ  Commentary: 2010 versus 2009  Percentage Change in Operating Profit Versus Prior Year Change Due To Total Change Net ...LQ9HQH]XHODLQ ‡ &RQVROLGDWHGRSHUDWLQJSURILWGHFUHDVHGPLOOLRQRUSHUFHQWFRPSDUHGWRWKHSULRU\HDU7KHEHQHILWVRILQFUHDVHV LQ...

  • Page 23
    ...LQ  ZHUH DSSUR[LPDWHO\ PLOOLRQ RI FXUUHQF\ WUDQVDFWLRQ ORVVHV UHODWHG WR RSHUDWLRQVLQ9HQH]XHOD Additional Income Statement Commentary   2011 versus 2010 ‡ ‡ ‡ ,QWHUHVWH[SHQVHLQFUHDVHGLQRYHUGXHWRDKLJKHUDYHUDJHOHYHORIGHEW6HH,WHP1RWHWRWKH...

  • Page 24
    PART II &RQWLQXHG 2010 versus 2009 ‡ ‡ ,...SUHVHQWVRXUWRWDOFRQWUDFWXDOREOLJDWLRQVIRUZKLFKFDVKIORZVDUHIL[HGRUGHWHUPLQDEOH Total  2012 2013 2014 (Millions of ...SXOSDQGXWLOLWLHV$OWKRXJK ZHDUHSULPDULO\OLDEOHIRUSD\PHQWVRQWKHDERYHRSHUDWLQJOHDVHVDQGXQFRQGLWLRQDOSXUFKDVH...

  • Page 25
    ... 7KHWDEOHGRHVQRWLQFOXGHDPRXQWVZKHUHSD\PHQWVDUHGLVFUHWLRQDU\RUWKHWLPLQJLVXQFHUWDLQ7KHIROORZLQJSD\PHQWV DUHQRWLQFOXGHGLQWKHWDEOH  ‡ ‡ :HZLOO IXQG RXU GHILQHG EHQHILW SHQVLRQ SODQV WR PHHW RU H[FHHG VWDWXWRU\ UHTXLUHPHQWV DQG FXUUHQWO\ H[SHFW WR...

  • Page 26
    ...Benefits Pension Plans :HKDYHGHILQHGEHQHILWSHQVLRQSODQVLQ1RUWK$PHULFDDQGWKH8QLWHG.LQJGRP WKH³3ULQFLSDO3ODQV´ DQGRUGHILQHG...RWKHUVXEVLGLDULHVKDYHGHILQHGEHQHILWSHQVLRQ SODQVRULQFHUWDLQFRXQWULHVWHUPLQDWLRQSD\SODQVFRYHULQJVXEVWDQWLDOO\DOOUHJXODUHPSOR\HHV7KH...

  • Page 27
    ...FDVKIORZVWKDWODUJHO\PDWFKWKHH[SHFWHGEHQHILW SD\PHQWVRIWKHSODQ)RUWKH8.DQG&DQDGLDQSODQVWKHGLVFRXQWUDWHZDVGHWHUPLQHG...WZRZHLJKWHGDYHUDJHGLVFRXQWUDWHV   Other Postretirement Benefit Plans 6XEVWDQWLDOO\DOO86UHWLUHHVDQGHPSOR\HHVDUHFRYHUHGE\XQIXQGHGKHDOWKFDUH...

  • Page 28
    ... EHJLQQLQJ RI WKH IRXUWK TXDUWHU DQG ZKHQHYHU HYHQWV RU FLUFXPVWDQFHVLQGLFDWHWKDWLPSDLUPHQWPD\KDYHRFFXUUHG,PSDLUPHQWWHVWLQJLVFRQGXFWHGDW...ZHLJKWRIDYDLODEOHHYLGHQFHLWLVPRUHOLNHO\WKDQQRWWKDWVRPH SRUWLRQRUDOORIWKHGHIHUUHGWD[DVVHWZLOOQRWEHUHDOL]HG  $V RI...

  • Page 29
    ...IHGHUDOVWDWHDQGORFDOHQYLURQPHQWDOSURWHFWLRQODZVDQGUHJXODWLRQVZLWKUHVSHFWWRRXUEXVLQHVVRSHUDWLRQV DQGDUHRSHUDWLQJLQFRPSOLDQFHZLWKRUWDNLQJDFWLRQDLPHGDWHQVXULQJFRPSOLDQFHZLWKWKHVHODZVDQGUHJXODWLRQV:HKDYH EHHQ QDPHG D SRWHQWLDOO\ UHVSRQVLEOH SDUW\ XQGHU WKH...

  • Page 30
    ...SHUFHQWIRU Forward-Looking Statements  &HUWDLQPDWWHUVGLVFXVVHGLQWKLV)RUP.RUUHODWHGGRFXPHQWVDSRUWLRQRI...IXWXUHHYHQWVDIIHFWLQJXV7KHUHFDQEHQRDVVXUDQFHWKDWWKHVHHYHQWVZLOORFFXURUWKDWRXU UHVXOWVZLOOEHDVHVWLPDWHG)RUZDUGORRNLQJVWDWHPHQWVVSHDNRQO\DVRI...

  • Page 31
    ...DWWKHWLPHRIWKHWHVW7KHILUVW WHVWHVWLPDWHVWKHHIIHFWRILQWHUHVWUDWHFKDQJHVRQIL[HGUDWHGHEW,QWHUHVWUDWHFKDQJHVZRXOGUHVXOWLQJDLQVRUORVVHVLQWKH PDUNHWYDOXHRIIL[HGUDWHGHEWGXHWRGLIIHUHQFHVEHWZHHQWKHFXUUHQWPDUNHWLQWHUHVWUDWHVDQGWKHUDWHVJRYHUQLQJWKHVH...

  • Page 32
    PART II &RQWLQXHG ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA   KIMBERLY-CLARK CORPORATION AND SUBSIDIARIES CONSOLIDATED INCOME STATEMENT Year Ended December 31 2011 2010 2009 (Millions of dollars, except per share amounts) Net Sales RVWRISURGXFWVVROG Gross Profit 0DUNHWLQJ...

  • Page 33
    PART II &RQWLQXHG KIMBERLY-CLARK CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME Year Ended December 31 2011 2010 (Millions of dollars) 2009 Net Income Other Comprehensive Income, Net of Tax: 8QUHDOL]HGFXUUHQF\WUDQVODWLRQDGMXVWPHQWV PSOR\HHSRVWUHWLUHPHQWEHQHILWV...

  • Page 34
    PART II &RQWLQXHG KIMBERLY-CLARK CORPORATION AND SUBSIDIARIES CONSOLIDATED BALANCE SHEET December 31 2010 2011 (Millions of dollars) ASSETS Current Assets &...'HEWSD\DEOHZLWKLQRQH\HDU 5HGHHPDEOHSUHIHUUHGVHFXULWLHVRIVXEVLGLDU 7UDGHDFFRXQWVSD\DEOH $FFUXHGH[SHQVHV LYLGHQGVSD\DEOH Total...

  • Page 35
    PART II &RQWLQXHG KIMBERLY-CLARK CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY Common Stock Issued Shares %DODQFHDW'HFHPEHU 1HWLQFRPHLQVWRFNKROGHUV¶ HTXLW 2WKHUFRPSUHKHQVLYHLQFRPH 8QUHDOL]HGWUDQVODWLRQ PSOR\HHSRVWUHWLUHPHQW EHQHILWVQHWRIWD[...

  • Page 36
    PART II &RQWLQXHG KIMBERLY-CLARK CORPORATION AND SUBSIDIARIES CONSOLIDATED CASH FLOW STATEMENT Year Ended December 31 2010 (Millions of dollars) 2011 2009 Operating Activities 1HW,QFRPH HSUHFLDWLRQDQGDPRUWL]DWLRQ VVHW,PSDLUPHQWV 6WRFNEDVHGFRPSHQVDWLRQ HIHUUHGLQFRPHWD[HV 1HW JDLQV...

  • Page 37
    KIMBERLY-CLARK CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Note 1.   Accounting Policies Basis of Presentation 7KH&... H[WHUQDO FRVWV DQG FHUWDLQ LQWHUQDO FRVWV LQFOXGLQJ SD\UROO DQG SD\UROOUHODWHG FRVWV RI HPSOR\HHV  GLUHFWO\ DVVRFLDWHG ZLWK...

  • Page 38
    KIMBERLY-CLARK CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS-(Continued) FKDUJHZRXOGEHUHFRUGHG:HKDYH...WKHIROORZLQJKDYHRFFXUUHGDILUPVDOHVDJUHHPHQWLVLQSODFHSULFLQJLVIL[HGRUGHWHUPLQDEOHDQG FROOHFWLRQLVUHDVRQDEO\DVVXUHG6DOHVDUHUHSRUWHGQHWRI...

  • Page 39
    KIMBERLY-CLARK CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS-(Continued) FDQEHUHDVRQDEO\HVWLPDWHG*HQHUDOO\WKHWLPLQJRIWKHVHDFFUXDOVFRLQFLGHVZLWKFRPSOHWLRQRIDIHDVLELOLW\VWXG\RUDFRPPLWPHQW WRDIRUPDOSODQRIDFWLRQ/LDELOLWLHVIRUIXWXUHH[SHQGLWXUHV...

  • Page 40
    KIMBERLY-CLARK CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS-(Continued) Note 2. Pulp and Tissue Restructuring 2Q -DQXDU\  ZH...UHODWHWRDFWLYLWLHVLQWKHIROORZLQJJHRJUDSKLFDUHDV Year Ended December 31, 2011 North America Australia Other 252 71 58 19 7...

  • Page 41
    KIMBERLY-CLARK CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS-(Continued) 7KHIROORZLQJVXPPDUL]HVWKHFDVKFKDUJHVUHFRUGHGDQGUHFRQFLOHVWKHVHFKDUJHVWRDFFUXHGH[SHQVHV Year Ended December 31, 2011...Year Ended December 31, 2010...LQWR86GROODUVWRSD\IRU LWV...

  • Page 42
    KIMBERLY-CLARK CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS-(Continued) &RVWVRIWKHVHDFWLRQVZHUHUHFRUGHGDWWKHEXVLQHVVVHJPHQWDQGFRUSRUDWHOHYHOVDVIROORZV Year Ended December 31, 2009 (Millions of dollars) 3HUVRQDO&DUH RQVXPHU7LVVXH 3URIHVVLRQDO 2WKHU ...

  • Page 43
    KIMBERLY-CLARK CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS-(Continued) 6HWIRUWKEHORZDUHWKHILQDQFLDODVVHWVDQGOLDELOLWLHVPHDVXUHGDWIDLUYDOXHDVRI'HFHPEHUDQGWRJHWKHU ZLWKWKHLQSXWVXVHGWRGHYHORS...

  • Page 44
    KIMBERLY-CLARK CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS-(Continued...Fair Value December 31, 2011 December 31, 2010 (Millions of dollars) ...YDOXHFUHGLWVSUHDGVWDWHG VSUHDGPDWXULW\GDWHDQGLQWHUHVWSD\PHQWGDWHV7KHGLIIHUHQFHEHWZHHQWKHFDUU\LQJDPRXQWRI...

  • Page 45
    KIMBERLY-CLARK CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS...RIJRRGZLOOE\EXVLQHVVVHJPHQWDUHDVIROORZV Personal Care Consumer Tissue K-C Professional & Other (Millions of dollars) Health... 2011 Gross Carrying Amount Accumulated Amortization Gross Carrying Amount 2010 ...

  • Page 46
    KIMBERLY-CLARK CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS-(Continued) Note 8. Debt /RQJWHUPGHEWLVFRPSULVHGRIWKHIROORZLQJ WeightedAverage Interest Rate December 31 Maturities 2011 2010...PLOOLRQ:HZRXOGEHREOLJDWHGWRSD\WKHGHDOHUWKHIDLUYDOXH...DFFUXHDIL[HG...

  • Page 47
    KIMBERLY-CLARK CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS...WHUP ORDQVEHDUIL[HGDQQXDOLQWHUHVWUDWHV...Stock-Based Compensation...RURWKHUZLVHWHUPLQDWHVVHUYLFHRQRXU%RDUG $WWKHWLPHVWRFNRSWLRQVDUHH[HUFLVHGRUUHVWULFWHGVKDUHVDQGUHVWULFWHGVKDUHXQLWVEHFRPHSD...

  • Page 48
    KIMBERLY-CLARK CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS-(Continued) 7KH ZHLJKWHGDYHUDJHIDLU YDOXH RI RSWLRQV JUDQWHG ZDV HVWLPDWHGDW DQG  LQ DQG  UHVSHFWLYHO\SHURSWLRQRQWKHGDWHRIJUDQWEDVHGRQWKHIROORZLQJDVVXPSWLRQV Year Ended ...

  • Page 49
    KIMBERLY-CLARK CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS-(Continued) Time-Vested Restricted Share Units WeightedAverage Grant-Date Fair Value Performance-Based Restricted Share Units WeightedAverage Grant-Date Fair Value Other Stock... Benefit Plans 6XEVWDQWLDOO\DOO...

  • Page 50
    KIMBERLY-CLARK CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS-(Continued) 6XPPDUL]HGILQDQFLDOLQIRUPDWLRQDERXWSRVWUHWLUHPHQWSODQVH[FOXGLQJGHILQHGFRQWULEXWLRQUHWLUHPHQWSODQVLVSUHVHQWHG EHORZ Other Benefits Pension Benefits Year Ended December 31 2011 2010 2011 ...

  • Page 51
    KIMBERLY-CLARK CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS-(Continued) Information for Pension Plans with an ABO in Excess of Plan Assets December 31 2011 2010 (Millions of dollars) 3%2 2 DLUYDOXHRISODQDVVHWV Components of Net Periodic Benefit Cost Pension ...

  • Page 52
    KIMBERLY-CLARK CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS...IROORZV Target Allocation 2012 Percentage of Plan Assets at December 31 2011 2010 Asset Category (TXLW\VHFXULWLHV L[HG...PXQLFLSDOV 86FRUSRUDWHGHEW 86VHFXULWL]HGIL[HGLQFRPH HOGWKURXJKPXWXDODQG...

  • Page 53
    KIMBERLY-CLARK CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS-(Continued) Fair Value Measurements at December 31, 2010 ...Plan...DVVLVWLQGHWHUPLQLQJWKHVHYDOXDWLRQV )DLUYDOXHVRIHTXLW\VHFXULWLHVDQGIL[HGLQFRPHVHFXULWLHVKHOGWKURXJKXQLWVRISRROHGIXQGVDUHEDVHGRQ...

  • Page 54
    KIMBERLY-CLARK CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS-(Continued) (TXLW\VHFXULWLHVKHOGGLUHFWO\E\WKHSHQVLRQWUXVWVDQGWKRVHKHOGWKURXJKXQLWVLQSRROHGIXQGVDUHPRQLWRUHGDVWRLVVXHU DQGLQGXVWU\([FHSWIRU867UHDVXULHVFRQFHQWUDWLRQVRIIL... Plans ...

  • Page 55
    KIMBERLY-CLARK CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS-(Continued) &RVWVFKDUJHGWRH[SHQVHIRURXUGHILQHGFRQWULEXWLRQSHQVLRQSODQVZHUHDVIROORZV 2011 2010 (Millions of dollars) 2009 86 2XWVLGHWKH86 7RWDO 77 36 113           Note ...

  • Page 56
    KIMBERLY-CLARK CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS...%DODQFHDW'HFHPEHU Noncontrolling The Interests Corporation (Millions of dollars)               ²   ...

  • Page 57
    KIMBERLY-CLARK CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS-(Continued) 7KHSXUFKDVHRIDGGLWLRQDORZQHUVKLSLQDQDOUHDG\FRQWUROOHGVXEVLGLDU\LVUHFRUGHGDVDQHTXLW\WUDQVDFWLRQZLWKQRJDLQ RUORVVUHFRJQL]HGLQFRQVROLGDWHGQHWLQFRPHRU... Year Ended December...

  • Page 58
    KIMBERLY-CLARK CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS-(Continued) Accumulated Other Comprehensive Income (Loss) 7KHFKDQJHVLQWKHFRPSRQHQWVRIDFFXPXODWHGRWKHUFRPSUHKHQVLYHLQFRPH ORVV DWWULEXWDEOHWR.LPEHUO\&ODUNDUHDV IROORZV 2011 Tax Effect 7 Year Ended...

  • Page 59
    KIMBERLY-CLARK CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS-(Continued) $FFXPXODWHGEDODQFHVRIRWKHUFRPSUHKHQVLYHLQFRPH ORVV DWWULEXWDEOHWR.LPEHUO\&ODUNQHWRIDSSOLFDEOHLQFRPHWD[HV DUHDVIROORZV December 31 2011 2010... Year Ending ...\OLDEOHIRUSD\PHQWVRQWKH...

  • Page 60
    KIMBERLY-CLARK CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS-(Continued) Note 14. Legal Matters :HDUHVXEMHFWWRYDULRXVODZVXLWVDQG...DVRI'HFHPEHU Assets 2011 2010 2011 (Millions of dollars) Liabilities 2010 )RUHLJQFXUUHQF\H[FKDQJHULVN...

  • Page 61
    KIMBERLY-CLARK CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS-(...SULPDULO\LQWHUFRPSDQ\ORDQVDQGDFFRXQWVSD\DEOHLVKHGJHGZLWKGHULYDWLYH...,QWHUHVWUDWHULVNLVPDQDJHGXVLQJDSRUWIROLRRIYDULDEOHDQGIL[HGUDWHGHEWFRPSRVHGRIVKRUWDQGORQJWHUPLQVWUXPHQWV...

  • Page 62
    KIMBERLY-CLARK CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS-(Continued) FRQVLVWHQW ZLWK WKH WLPLQJ RI WKH XQGHUO\LQJ KHGJHG WUDQVDFWLRQV  7KH PD[LPXP PDWXULW\ RI FDVK IORZ KHGJHV LQ SODFH DW 'HFHPEHULV-DQXDU\ Quantitative Information ...

  • Page 63
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    KIMBERLY-CLARK CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS-(Continued) $VRI'HFHPEHUWKHIROORZLQJWD[\HDUVUHPDLQVXEMHFWWRH[DPLQDWLRQIRUWKHPDMRUMXULVGLFWLRQVZKHUHZHFRQGXFW EXVLQHVV Jurisdiction Years...Shares Outstanding 2010 (Millions) 2011 2009 ...

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    KIMBERLY-CLARK CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS-(Continued) Note 18. Business Segment and Geographic Data Information... \RXWKSDQWVVZLPSDQWVEDE\ZLSHVIHPLQLQHDQGLQFRQWLQHQFH...DQG RWKHUEUDQGQDPHV • Consumer TissueRIIHUVDZLGHYDULHW\RILQQRYDWLYH...

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    KIMBERLY-CLARK CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS-(Continued) ,QIRUPDWLRQ...WKHEXVLQHVVVHJPHQWVDUHDVIROORZV Year Ended December 31, 2011 (Millions of dollars) &RQVXPHU7LVVXH...VHJPHQWVDUHDVIROORZV Year Ended December 31, 2010 (Millions of dollars) 3HUVRQDO...

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    KIMBERLY-CLARK CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS-(Continued) Sales of Principal Products 2011 2010 (Billions of dollars) 2009 &RQVXPHUWLVVXHSURGXFWV LDSHUV ZD\IURPKRPHSURIHVVLRQDOSURGXFWV OORWKHU RQVROLGDWHG Consolidated Operations by Geographic ...

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    PART II &RQWLQXHG REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM  7RWKH%RDUGRI'LUHFWRUVDQG6WRFNKROGHUVRI .LPEHUO\&ODUN&RUSRUDWLRQ :H KDYH DXGLWHG WKH DFFRPSDQ\LQJ FRQVROLGDWHG EDODQFH VKHHWV ...

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    ...Financial Reporting Management's Report on the Financial Statements... Our Code of ...Financial Reporting 0DQDJHPHQWLVUHVSRQVLEOHIRUHVWDEOLVKLQJDQGPDLQWDLQLQJDQDGHTXDWHV\VWHPRILQWHUQDOFRQWURORYHUILQDQFLDOUHSRUWLQJ LQFOXGLQJVDIHJXDUGLQJRIDVVHWVDJDLQVWXQDXWKRUL]HGDFTXLVLWLRQXVHRU...

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    ...DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE  7KH...Number of securities remaining available for future issuance under equity compensation plans (excluding securities reflected in column (a)) (in millions) (c)  Number... 3ODQ8SRQUHWLUHPHQWIURPRUDQ\RWKHU WHUPLQDWLRQRIVHUYLFH...

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    PART III &RQWLQXHG Outside Directors' Compensation Plan ,Q RXU %RDUG RI 'LUHFWRUV DQG...RUUHVWULFWHGVKDUHXQLWV XQGHUWKLVSODQ ITEM 13. CERTAIN RELATIONSHIPS AND RELATED...,WHPE\UHIHUHQFH ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES 7KH LQIRUPDWLRQ LQ WKH VHFWLRQV RI WKH...

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    PART IV ITEM 15. EXHIBITS, FINANCIAL STATEMENT SCHEDULES (a)  Documents filed as part of this report. )LQDQFLDOVWDWHPHQWV 7KHILQDQFLDOVWDWHPHQWVDUHVHW...WKH\ZHUHQRWDSSOLFDEOHRUEHFDXVHWKHUHTXLUHGLQIRUPDWLRQKDVEHHQ LQFOXGHGLQWKHILQDQFLDOVWDWHPHQWVRUQRWHVWKHUHWR ([KLELWV...

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      SIGNATURES 3XUVXDQWWRWKHUHTXLUHPHQWVRI6HFWLRQRU G RIWKH6HFXULWLHV([FKDQJH$FWRIWKHUHJLVWUDQWKDVGXO... %\ V0$5.$%87+0$1 Mark A. Buthman Senior Vice President and Chief Financial Officer  3XUVXDQWWRWKHUHTXLUHPHQWVRIWKH6HFXULWLHV([FKDQJH$FWRI...

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    KIMBERLY-CLARK CORPORATION AND SUBSIDIARIES SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS FOR THE YEARS ENDED DECEMBER 31, 2011, 2010 AND 2009  (Millions of dollars)   Balance at End of Period Additions Balance at Beginning of Period Charged to Costs and Expenses Charged to Other (a) Accounts ...

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    ... 2007 Kimberly-Clark Corporation 2008 2009 S&P 500 Index 2010 S&P 500 Consumer Staples Index 2011 Indexed Returns Year Ended December 31 2008 2009 84 105 67 84 97 111 Company Name/Index Kimberly-Clark Corporation ...S&P 500 Index ...S&P 500 Consumer Staples Index...Investor Relations 2006...

  • Page 85
    ...-Clark' s financial information, news releases and other information on our website at www.kimberly-clark.com. This website also contains our Securities and Exchange Commission filings, including Forms 10-K, 10-Q and 8-K. Stockholders may contact Stockholder Services, P.O. Box 612606, Dallas, Texas...

  • Page 86
    ... Executive Committee Chairman of the Board and Chief Executive Officer Kimberly-Clark Corporation Fabian T. Garcia Management Development and Compensation Committee Nominating and Corporate Governance Committee Chief Operating Officer, Global Innovation and Growth Colgate-Palmolive Company Mae...

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    Kimberly-Clark Corporation World Headquarters P.O. Box 619100 Dallas, Texas 75261-9100 Toll-Free Investor Information: 800.639.1352 www.kimberly-clark.com