Kimberly-Clark 2010 Annual Report Download - page 20

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PART II
(Continued)
our results in the near-term, we will continue to focus on executing our Global Business Plan strategies
for the long-term health of our businesses.
Overview of 2010 Results
• Net sales increased 3.3 percent because of an increase in sales volumes, net selling prices and
improvements in product mix.
• Operating profit decreased 1.8 percent, and net income attributable to Kimberly-Clark and diluted
earnings per share decreased 2.2 percent and 1.5 percent, respectively. The benefits of the net sales
increase, cost savings, a decrease in pension expense, and the effect of the 2009 organization
optimization severance and related charges, were more than offset by inflation in key input costs,
increased marketing, research and general expenses, and the charge related to the adoption of highly
inflationary accounting for Venezuela.
• Cash flow from operations was $2.7 billion, a decrease of 21 percent.
Results of Operations and Related Information
This section contains a discussion and analysis of net sales, operating profit and other information relevant
to an understanding of 2010 results of operations. This discussion and analysis compares 2010 results to 2009,
and 2009 results to 2008.
Analysis of Consolidated Net Sales
By Business Segment
Year Ended December 31
2010 2009 2008
(Millions of dollars)
Personal Care ...................................................... $ 8,670 $ 8,365 $ 8,272
Consumer Tissue ................................................... 6,497 6,409 6,748
K-C Professional & Other ............................................ 3,110 3,007 3,174
Health Care ........................................................ 1,460 1,371 1,224
Corporate & Other .................................................. 9(37) (3)
Consolidated ................................................... $19,746 $19,115 $19,415
By Geographic Area
Year Ended December 31
2010 2009 2008
(Millions of dollars)
United States ...................................................... $10,480 $10,146 $10,143
Canada ........................................................... 684 596 574
Intergeographic sales ................................................ (445) (322) (256)
Total North America ............................................ 10,719 10,420 10,461
Europe ........................................................... 3,179 3,220 3,679
Asia, Latin America and other ......................................... 6,561 6,124 5,942
Intergeographic sales ................................................ (713) (649) (667)
Consolidated ................................................... $19,746 $19,115 $19,415
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