Kimberly-Clark 2008 Annual Report Download - page 103

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KIMBERLY-CLARK CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
Supplemental Cash Flow Statement Data
Summary of Cash Flow Effects of Decrease (Increase) in
Operating Working Capital(a)
Year Ended December 31
2008 2007 2006
Accounts receivable ...................................................... $ 148 $(192) $(231)
Inventories .............................................................. (45) (439) (252)
Prepaid expenses ......................................................... 13 (35) 20
Trade accounts payable .................................................... (26) 244 150
Other payables ........................................................... (60) (91) 29
Accrued expenses ........................................................ (142) 184 268
Accrued income taxes ..................................................... (96) (57) (65)
Derivatives ............................................................. (65) 9 (1)
Currency ............................................................... (62) 47 87
Decrease (increase) in operating working capital ................................ $(335) $(330) $ 5
Year Ended December 31
Other Cash Flow Data 2008 2007 2006
Interest paid ............................................................. $ 319 $ 239 $ 235
Income taxes paid ........................................................ 538 674 709
Year Ended December 31
Interest Expense 2008 2007 2006
Gross interest cost ........................................................ $ 318 $ 283 $ 235
Capitalized interest on major construction projects .............................. (14) (18) (15)
Interest expense .......................................................... $ 304 $ 265 $ 220
(a) Excludes the effects of acquisitions and dispositions.
Note 20. Unaudited Quarterly Data
2008 2007
Fourth Third Second First Fourth Third Second First
(Millions of dollars, except per share amounts)
Net sales ....................... $4,598 $4,998 $5,006 $4,813 $4,758 $4,621 $4,502 $4,385
Gross profit ..................... 1,455 1,463 1,484 1,456 1,462 1,444 1,446 1,352
Operating profit .................. 623 610 650 664 668 683 649 616
Net income ..................... 419 413 417 441 456 453 462 452
Per share basis:
Basic .................. 1.01 1.00 1.00 1.05 1.08 1.05 1.01 .99
Diluted ................. 1.01 .99 .99 1.04 1.07 1.04 1.00 .98
Cash dividends declared per share . . . .58 .58 .58 .58 .53 .53 .53 .53
Market price per share:
High ....................... 66.37 66.66 65.88 69.69 71.16 70.78 72.79 70.28
Low ....................... 50.27 50.42 59.53 62.16 67.01 63.79 66.05 65.99
Close ...................... 52.74 64.84 59.78 64.55 69.34 70.26 66.89 68.49
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