Kimberly-Clark 2011 Annual Report Download - page 21
Download and view the complete annual report
Please find page 21 of the 2011 Kimberly-Clark annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.
Commentary:
2011 versus 2010
&RQVROLGDWHG
3HUVRQDO&DUH
&RQVXPHU7LVVXH
.&3URIHVVLRQDO2WKHU
+HDOWK&DUH
Percentage Change in Operating Profit Versus Prior Year
Total
Change
(11.9)
(13.5)
17.4
4.1
25.9
Change Due To
Volume
3
3
(4)
4
24
Net
Price
13
6
28
12
2
Input
Costs(a)
(21)
(18)
(19)
(18)
(33)
Cost
Savings
10
5
16
13
11
Currency
5
2
2
5
3
Other(b)
(22)
(11)
(6)
(12)
19
D ,QFOXGHVLQIODWLRQLQUDZPDWHULDOVHQHUJ\DQGGLVWULEXWLRQFRVWV
E &RQVROLGDWHGLQFOXGHVWKHHIIHFWRIWKHSXOSDQGWLVVXHUHVWUXFWXULQJFKDUJHVDQGDQRQGHGXFWLEOHEXVLQHVVWD[FKDUJHUHODWHGWRDODZFKDQJHLQ
&RORPELDDVZHOODVWKHLPSDFWRIWKHFKDUJHUHODWHGWRWKHDGRSWLRQRIKLJKO\LQIODWLRQDU\DFFRXQWLQJLQ9HQH]XHOD
&RQVROLGDWHGRSHUDWLQJSURILWGHFUHDVHGPLOOLRQFRPSDUHGWRWKHSULRU\HDU7KHEHQHILWVRILQFUHDVHVLQQHWVDOHV
DQGFRVWVDYLQJV RI PLOOLRQ ZHUHPRUHWKDQRIIVHWE\FKDUJHVRI PLOOLRQUHODWHGWRWKHSXOS DQG WLVVXH
UHVWUXFWXULQJ LQIODWLRQ LQ NH\ FRVW LQSXWV RI PLOOLRQ DQG WKH QHJDWLYH HIIHFW RI ORZHU SURGXFWLRQ YROXPHV
&RPSDULVRQVZHUHDOVRLPSDFWHGE\WKHHIIHFWRIDPLOOLRQFKDUJHUHODWHGWRWKHDGRSWLRQRIKLJKO\LQIODWLRQDU\
DFFRXQWLQJLQ9HQH]XHODLQ
2SHUDWLQJSURILWIRUWKHSHUVRQDOFDUHVHJPHQWGHFUHDVHGGXHWRLQIODWLRQLQNH\FRVWLQSXWVDQGWKHQHJDWLYHHIIHFWRI
ORZHUSURGXFWLRQYROXPHVSDUWLDOO\RIIVHWE\LQFUHDVHVLQQHWVDOHVDQGFRVWVDYLQJV,Q1RUWK$PHULFDRSHUDWLQJ
SURILWGHFUHDVHGGXHWRLQIODWLRQLQNH\FRVWLQSXWVORZHUQHWVDOHVDQGWKHQHJDWLYHHIIHFWVRIORZHUSURGXFWLRQYROXPHV
SDUWLDOO\RIIVHWE\ORZHUPDUNHWLQJUHVHDUFKDQG JHQHUDOH[SHQVHV,Q(XURSHRSHUDWLQJSURILWGHFUHDVHGGXHWR
LQIODWLRQLQNH\FRVWLQSXWVSDUWLDOO\RIIVHWE\FRVWVDYLQJVKLJKHUQHWVDOHVDQGORZHUPDUNHWLQJUHVHDUFKDQGJHQHUDO
H[SHQVHV2SHUDWLQJSURILWLQ.&,LQFUHDVHGGXHWRKLJKHUQHWVDOHVFRVWVDYLQJVDQGIDYRUDEOHFXUUHQF\HIIHFWV
SDUWLDOO\RIIVHWE\LQIODWLRQLQNH\FRVWLQSXWVDQGLQFUHDVHVLQPDUNHWLQJUHVHDUFKDQGJHQHUDOH[SHQVHV
&RQVXPHUWLVVXHVHJPHQWRSHUDWLQJSURILWLQFUHDVHGGXHWRLQFUHDVHVLQQHWVDOHVFRVWVDYLQJVDQGORZHUPDUNHWLQJ
UHVHDUFKDQGJHQHUDOH[SHQVHVSDUWLDOO\RIIVHWE\LQIODWLRQLQNH\FRVWLQSXWVDQGWKHQHJDWLYHHIIHFWRIORZHUSURGXFWLRQ
YROXPHV2SHUDWLQJSURILWLQ1RUWK$PHULFDLQFUHDVHGDVKLJKHUQHWVDOHVFRVWVDYLQJVDQGORZHUPDUNHWLQJUHVHDUFK
DQGJHQHUDOH[SHQVHVZHUHSDUWLDOO\RIIVHWE\LQIODWLRQLQNH\FRVWLQSXWV,Q(XURSHRSHUDWLQJSURILWGHFUHDVHGDV
IDYRUDEOHFXUUHQF\HIIHFWVFRVWVDYLQJVDQGORZHUJHQHUDOH[SHQVHVZHUHPRUHWKDQRIIVHWE\LQIODWLRQLQNH\FRVW
LQSXWV2SHUDWLQJSURILWLQ.&,LQFUHDVHGDVKLJKHUQHWVDOHVDQGIDYRUDEOHFXUUHQF\HIIHFWVZHUHSDUWLDOO\RIIVHWE\
WKHQHJDWLYHHIIHFWRISURGXFWLRQYROXPHVDQGLQIODWLRQLQNH\FRVWLQSXWV
2SHUDWLQJSURILWIRU.&32WKHULQFUHDVHGGXHWRKLJKHUQHWVDOHVFRVWVDYLQJVDQGIDYRUDEOHFXUUHQF\HIIHFWV
SDUWLDOO\RIIVHWE\LQIODWLRQLQNH\FRVWLQSXWVDQGLQFUHDVHGPDUNHWLQJUHVHDUFKDQGJHQHUDOH[SHQVHV
2SHUDWLQJSURILWIRUWKHKHDOWKFDUHVHJPHQWLQFUHDVHGDVKLJKHUQHWVDOHVFRVWVDYLQJVDQGORZHUPDUNHWLQJUHVHDUFK
DQGJHQHUDOH[SHQVHVSULPDULO\GXHWRDORZHUOHYHORIOLWLJDWLRQH[SHQVHVZHUHSDUWLDOO\RIIVHWE\LQIODWLRQLQNH\
FRVWLQSXWV
Pulp and Tissue Restructuring
2Q -DQXDU\ ZH LQLWLDWHG D SXOS DQG WLVVXH UHVWUXFWXULQJ SODQ LQ RUGHU WR H[LW RXU UHPDLQLQJ LQWHJUDWHG SXOS
PDQXIDFWXULQJRSHUDWLRQVDQGLPSURYHWKHXQGHUO\LQJSURILWDELOLW\DQGUHWXUQRQLQYHVWHGFDSLWDORIRXUFRQVXPHUWLVVXHDQG.&3
EXVLQHVVHV7KHUHVWUXFWXULQJLQYROYHVWKHVWUHDPOLQLQJVDOHRUFORVXUHRIVL[RIRXUPDQXIDFWXULQJIDFLOLWLHVDURXQGWKHZRUOG
,QFRQMXQFWLRQZLWKWKHVHDFWLRQVZHKDYHEHJXQWRH[LWFHUWDLQQRQVWUDWHJLFSURGXFWVSULPDULO\QRQEUDQGHGRIIHULQJVDQG
WUDQVIHUVRPHSURGXFWLRQWRORZHUFRVWIDFLOLWLHVLQRUGHUWRLPSURYHRYHUDOOSURILWDELOLW\DQGUHWXUQV)DFLOLWLHVLPSDFWHGE\WKH
UHVWUXFWXULQJLQFOXGHDIDFLOLW\LQ(YHUHWW:DVKLQJWRQWZRIDFLOLWLHVLQ$XVWUDOLDDQGWZRIDFLOLWLHVLQ6SDLQ,QDGGLWLRQLQ-DQXDU\
RIZHGHFLGHGWRVWUHDPOLQHDQDGGLWLRQDOIDFLOLW\LQ1RUWK$PHULFDWRIXUWKHUHQKDQFHWKHSURILWDELOLW\RIWKHFRQVXPHU
WLVVXHEXVLQHVV
PART II
&RQWLQXHG