Kimberly-Clark 2010 Annual Report Download - page 80

Download and view the complete annual report

Please find page 80 of the 2010 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.

Page out of 104

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104

KIMBERLY-CLARK CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
As of December 31, 2010, the following tax years remain subject to examination for the major jurisdictions
where we conduct business:
Jurisdiction Years
United States ................................................................... 2008 to 2010
United Kingdom ................................................................. 2008 to 2010
Canada ........................................................................ 2005 to 2010
Korea ......................................................................... 2005 to 2010
Australia ....................................................................... 2006 to 2010
Our U.S. federal income tax returns have been audited through 2007. We have various federal income tax
return positions in administrative appeals or litigation for 1999 and 2002 to 2007.
State income tax returns are generally subject to examination for a period of 3 to 5 years after filing of the
respective return. The state effect of any federal changes remains subject to examination by various states for a
period of up to two years after formal notification to the states. We have various state income tax return positions
in the process of examination, administrative appeals or litigation.
Note 18. Earnings Per Share
A reconciliation of the average number of common shares outstanding used in the basic and diluted EPS
computations follows:
Average Common
Shares Outstanding
2010 2009 2008
(Millions)
Average shares outstanding ................................................. 411.3 414.6 416.7
Participating securities ..................................................... 1.1 1.5 1.8
Basic ................................................................... 412.4 416.1 418.5
Dilutive effect of stock options .............................................. 1.1 .4 .9
Dilutive effect of restricted share and restricted share unit awards ................... .9 .3 .2
Diluted ................................................................. 414.4 416.8 419.6
Options outstanding that were not included in the computation of diluted EPS mainly because their exercise
price was greater than the average market price of the common shares are summarized below:
Description 2010 2009 2008
Average number of share equivalents (millions) ............ 13.9 21.8 15.6
Weighted-average exercise price ........................ $ 66.00 $ 64.12 $ 66.31
Expiration date of options ............................. 2010 to 2020 2009 to 2019 2008 to 2018
Options outstanding at year-end (millions) ................ 14.7 20.3 16.0
The number of common shares outstanding as of December 31, 2010, 2009 and 2008 was 406.9 million,
416.9 million and 413.6 million, respectively.
76