-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, SjaATX7TcTJcj1cIqzmv5aoVwbWQcqumZI3ax8QNwcYXesPCcEKvs6PmDs9XV6zc vyNAptx3qErM/E6e2zZK3g== 0000055785-02-000022.txt : 20020416 0000055785-02-000022.hdr.sgml : 20020416 ACCESSION NUMBER: 0000055785-02-000022 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20020412 ITEM INFORMATION: FILED AS OF DATE: 20020412 FILER: COMPANY DATA: COMPANY CONFORMED NAME: KIMBERLY CLARK CORP CENTRAL INDEX KEY: 0000055785 STANDARD INDUSTRIAL CLASSIFICATION: PAPER MILLS [2621] IRS NUMBER: 390394230 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-00225 FILM NUMBER: 02609695 BUSINESS ADDRESS: STREET 1: P O BOX 619100 STREET 2: DFW AIRPORT STATION CITY: DALLAS STATE: TX ZIP: 75261-9100 BUSINESS PHONE: 9722811200 MAIL ADDRESS: STREET 1: 351 PHELPS DRIVE CITY: IRVING STATE: TX ZIP: 75038 8-K 1 k8041202.txt 8-K FORM 8-K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 DATE OF REPORT: APRIL 12, 2002 (Date of earliest event reported) KIMBERLY-CLARK CORPORATION (Exact name of registrant as specified in its charter) DELAWARE 1-225 39-0394230 (State or other jurisdiction (Commission File (IRS Employer of incorporation) Number) Identification No.) P.O. BOX 619100, DALLAS, TEXAS 75261-9100 (Address of principal executive offices) (Zip Code) (972) 281-1200 (Registrant's telephone number, including area code) --------------------------------------------- Item 9. Regulation FD Disclosure - -------------------------------------- Attached hereto as Exhibit 99 is certain financial information of Kimberly-Clark Corporation (the "Corporation") for the years ended December 31, 1998, 1999, 2000 and 2001, and for each quarter in 2001, that has been reclassified in accordance with Emerging Issues Task Force ("EITF") No. 00-14 (Accounting for Certain Sales Incentives) and No. 00-25 (Vendor Income Statement Characterization of Consideration Paid to a Reseller of the Vendor's Products). As we previously communicated in our November 30 conference call and our 2001 annual report, beginning in the first quarter of 2002, the adoption of EITFs 00-14 and 00-25 requires the cost of certain consumer and trade promotions to be reflected as a reduction of net sales rather than an expense. Prior periods will be reclassified on a consistent basis. We are therefore providing the relevant portions of the Corporation's income statements for 1998 through 2001, comparing results as originally reported with the results as reclassified in accordance with the new accounting requirements. There is no change in operating profit, but operating profit as a percent of net sales increases in each period presented as a result of the reclassifications. Details are included in Exhibit 99. The reclassifications, (decrease) increase, are summarized below. Advertising, Promotion and Reporting Period Net Sales Cost of Sales Selling Expenses - ---------------- --------- ------------- ---------------- ($ millions) 1998 $(1,036.4) $4.1 $(1,040.5) 1999 (1,105.8) 3.9 (1,109.7) 2000 (1,072.5) 4.3 (1,076.8) 2001: 1st Qtr. (285.2) 1.5 (286.7) 2nd Qtr. (288.9) .8 (289.7) 3rd Qtr. (336.3) .9 (337.2) 4th Qtr. (326.4) (.7) (325.7) --------- ---- --------- Year (1,236.8) 2.5 (1,239.3) Schedules that present the reclassifications of net sales by business segment and geographic area are also attached as part of Exhibit 99. SIGNATURE --------- Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. KIMBERLY-CLARK CORPORATION Date: April 12, 2002 By: /s/John W. Donehower ---------------------------- John W. Donehower Senior Vice President and Chief Financial Officer EXHIBIT INDEX ------------- (99) Certain Financial Information of Kimberly-Clark Corporation for the years ended December 31, 1998, 1999, 2000 and 2001, and for each quarter of 2001, that is reclassified in accordance with EITFs No. 00-14 and 00-25. EX-99 3 ex99.txt EXHIBIT 99
KIMBERLY-CLARK CORPORATION Exhibit No. 99 SELECTED INCOME STATEMENT DATA YEAR ENDED DECEMBER 31 1998 1999 ------------------------------ ------------------------------ ($ millions) AS REPORTED AS RECLASSIFIED AS REPORTED AS RECLASSIFIED NET SALES . . . . . . . . . . . . . . . . . . $12,297.8 $11,261.4 $13,006.8 $11,901.0 COST OF PRODUCTS SOLD . . . . . . . . . . . . 7,700.2 7,704.3 7,681.6 7,685.5 --------- --------- --------- --------- GROSS PROFIT. . . . . . . . . . . . . . . . . 4,597.6 3,557.1 5,325.2 4,215.5 EXPENSES: Advertising, promotion and selling expenses 1,937.4 896.9 2,097.8 988.1 Research. . . . . . . . . . . . . . . . . . 224.8 224.8 249.8 249.8 General . . . . . . . . . . . . . . . . . . 717.0 717.0 707.4 707.4 Goodwill amortization . . . . . . . . . . . 33.3 33.3 41.8 41.8 Other (income) expense, net*. . . . . . . . (12.6) (12.6) (207.0) (207.0) --------- --------- --------- --------- 2,899.9 1,859.4 2,889.8 1,780.1 --------- --------- --------- --------- OPERATING PROFIT. . . . . . . . . . . . . . . $ 1,697.7 $ 1,697.7 $ 2,435.4 $ 2,435.4 ========= ========= ========= ========= * - includes restructuring expense in 1998 and 1999
KIMBERLY-CLARK CORPORATION SELECTED INCOME STATEMENT DATA YEAR ENDED DECEMBER 31 2000 2001 ------------------------------ ------------------------------ ($ millions) AS REPORTED AS RECLASSIFIED AS REPORTED AS RECLASSIFIED NET SALES . . . . . . . . . . . . . . . . . . $13,982.0 $12,909.5 $14,524.4 $13,287.6 COST OF PRODUCTS SOLD . . . . . . . . . . . . 8,228.5 8,232.8 8,615.5 8,618.0 --------- --------- --------- --------- GROSS PROFIT. . . . . . . . . . . . . . . . . 5,753.5 4,676.7 5,908.9 4,669.6 EXPENSES: Advertising, promotion and selling expenses 2,122.7 1,045.9 2,334.4 1,095.1 Research. . . . . . . . . . . . . . . . . . 277.4 277.4 295.3 295.3 General . . . . . . . . . . . . . . . . . . 742.1 742.1 767.9 767.9 Goodwill amortization . . . . . . . . . . . 81.7 81.7 89.4 89.4 Other (income) expense, net . . . . . . . . (104.2) (104.2) 83.7 83.7 --------- --------- --------- --------- 3,119.7 2,042.9 3,570.7 2,331.4 --------- --------- --------- --------- OPERATING PROFIT. . . . . . . . . . . . . . . $ 2,633.8 $ 2,633.8 $ 2,338.2 $ 2,338.2 ========= ========= ========= =========
Selected Income Statement Data - Percent of Net Sales 1998 1999 ------------------------------ ------------------------------ AS REPORTED AS RECLASSIFIED AS REPORTED AS RECLASSIFIED NET SALES . . . . . . . . . . . . . . . . . . 100.0% 100.0% 100.0% 100.0% COST OF PRODUCTS SOLD . . . . . . . . . . . . 62.6% 68.4% 59.1% 64.6% ------ ------ ------ ------ GROSS PROFIT. . . . . . . . . . . . . . . . . 37.4% 31.6% 40.9% 35.4% EXPENSES: Advertising, promotion and selling expenses 15.8% 8.0% 16.1% 8.3% Research. . . . . . . . . . . . . . . . . . 1.8% 2.0% 1.9% 2.1% General . . . . . . . . . . . . . . . . . . 5.8% 6.4% 5.4% 5.9% Goodwill amortization . . . . . . . . . . . 0.3% 0.3% 0.3% 0.4% Other (income) expense, net . . . . . . . . -0.1% -0.1% -1.6% -1.7% ------ ------ ------ ------ 23.6% 16.5% 22.2% 15.0% ------ ------ ------ ------ OPERATING PROFIT. . . . . . . . . . . . . . . 13.8% 15.1% 18.7% 20.5% ====== ====== ====== ======
Selected Income Statement Data - Percent of Net Sales 2000 2001 ------------------------------ ------------------------------ AS REPORTED AS RECLASSIFIED AS REPORTED AS RECLASSIFIED NET SALES . . . . . . . . . . . . . . . . . . 100.0% 100.0% 100.0% 100.0% COST OF PRODUCTS SOLD . . . . . . . . . . . . 58.9% 63.8% 59.3% 64.9% ------ ------ ------ ------ GROSS PROFIT. . . . . . . . . . . . . . . . . 41.1% 36.2% 40.7% 35.1% EXPENSES: Advertising, promotion and selling expenses 15.2% 8.1% 16.1% 8.2% Research. . . . . . . . . . . . . . . . . . 2.0% 2.1% 2.0% 2.2% General . . . . . . . . . . . . . . . . . . 5.3% 5.7% 5.3% 5.8% Goodwill amortization . . . . . . . . . . . 0.6% 0.6% 0.6% 0.7% Other (income) expense, net . . . . . . . . -0.7% -0.8% 0.6% 0.6% ------ ------ ------ ------ 22.3% 15.8% 24.6% 17.5% ------ ------ ------ ------ OPERATING PROFIT. . . . . . . . . . . . . . . 18.8% 20.4% 16.1% 17.6% ====== ====== ====== ======
KIMBERLY-CLARK CORPORATION Selected 2001 Quarterly Income Statement Data 1st Quarter 2nd Quarter ------------------------------ ------------------------------ AS REPORTED AS RECLASSIFIED AS REPORTED AS RECLASSIFIED NET SALES . . . . . . . . . . . . . . . . . . $3,608.4 $3,323.2 $3,534.2 $3,245.3 COST OF PRODUCTS SOLD . . . . . . . . . . . . 2,151.0 2,152.5 2,103.7 2,104.5 -------- -------- -------- -------- GROSS PROFIT. . . . . . . . . . . . . . . . . 1,457.4 1,170.7 1,430.5 1,140.8 EXPENSES: Advertising, promotion and selling expenses 555.1 268.4 552.5 262.8 Research. . . . . . . . . . . . . . . . . . 68.7 68.7 73.2 73.2 General . . . . . . . . . . . . . . . . . . 178.5 178.5 183.7 183.7 Goodwill amortization . . . . . . . . . . . 21.8 21.8 22.5 22.5 Other (income) expense, net . . . . . . . . 2.2 2.2 8.0 8.0 -------- -------- -------- -------- 826.3 539.6 839.9 550.2 -------- -------- -------- -------- OPERATING PROFIT. . . . . . . . . . . . . . . $ 631.1 $ 631.1 $ 590.6 $ 590.6 ======== ======== ======== ========
Selected 2001 Quarterly Income Statement Data 3rd Quarter 4th Quarter ------------------------------ ------------------------------ AS REPORTED AS RECLASSIFIED AS REPORTED AS RECLASSIFIED NET SALES . . . . . . . . . . . . . . . . . . $3,710.0 $3,373.7 $3,671.8 $3,345.4 COST OF PRODUCTS SOLD . . . . . . . . . . . . 2,161.8 2,162.7 2,199.0 2,198.3 -------- -------- -------- -------- GROSS PROFIT. . . . . . . . . . . . . . . . . 1,548.2 1,211.0 1,472.8 1,147.1 EXPENSES: Advertising, promotion and selling expenses 616.1 278.9 610.7 285.0 Research. . . . . . . . . . . . . . . . . . 73.9 73.9 79.5 79.5 General . . . . . . . . . . . . . . . . . . 189.0 189.0 216.7 216.7 Goodwill amortization . . . . . . . . . . . 22.7 22.7 22.4 22.4 Other (income) expense, net . . . . . . . . 17.4 17.4 56.1 56.1 -------- -------- -------- -------- 919.1 581.9 985.4 659.7 -------- -------- -------- -------- OPERATING PROFIT. . . . . . . . . . . . . . . $ 629.1 $ 629.1 $ 487.4 $ 487.4 ======== ======== ======== ========
Selected 2001 Quarterly Income Statement Data - Percent of Net Sales 1st Quarter 2nd Quarter ------------------------------ ------------------------------ AS REPORTED AS RECLASSIFIED AS REPORTED AS RECLASSIFIED NET SALES . . . . . . . . . . . . . . . . . . 100.0% 100.0% 100.0% 100.0% COST OF PRODUCTS SOLD . . . . . . . . . . . . 59.6% 64.8% 59.5% 64.8% ------ ------ ------ ------ GROSS PROFIT. . . . . . . . . . . . . . . . . 40.4% 35.2% 40.5% 35.2% EXPENSES: Advertising, promotion and selling expenses 15.4% 8.1% 15.6% 8.1% Research. . . . . . . . . . . . . . . . . . 1.9% 2.1% 2.1% 2.3% General . . . . . . . . . . . . . . . . . . 4.9% 5.4% 5.2% 5.7% Goodwill amortization . . . . . . . . . . . 0.6% 0.7% 0.6% 0.7% Other (income) expense, net . . . . . . . . 0.1% 0.1% 0.2% 0.2% ------ ------ ------ ------ 22.9% 16.2% 23.8% 17.0% ------ ------ ------ ------ OPERATING PROFIT. . . . . . . . . . . . . . . 17.5% 19.0% 16.7% 18.2% ====== ====== ====== ======
Selected 2001 Quarterly Income Statement Data - Percent of Net Sales 3rd Quarter 4th Quarter ------------------------------ ------------------------------ AS REPORTED AS RECLASSIFIED AS REPORTED AS RECLASSIFIED NET SALES . . . . . . . . . . . . . . . . . . 100.0% 100.0% 100.0% 100.0% COST OF PRODUCTS SOLD . . . . . . . . . . . . 58.3% 64.1% 59.9% 65.7% ------ ------ ------ ------ GROSS PROFIT. . . . . . . . . . . . . . . . . 41.7% 35.9% 40.1% 34.3% EXPENSES: Advertising, promotion and selling expenses 16.6% 8.3% 16.6% 8.5% Research. . . . . . . . . . . . . . . . . . 2.0% 2.2% 2.2% 2.4% General . . . . . . . . . . . . . . . . . . 5.1% 5.6% 5.9% 6.5% Goodwill amortization . . . . . . . . . . . 0.6% 0.7% 0.6% 0.7% Other (income) expense, net . . . . . . . . 0.5% 0.5% 1.5% 1.7% ------ ------ ------ ------ 24.8% 17.2% 26.8% 19.7% ------ ------ ------ ------ OPERATING PROFIT. . . . . . . . . . . . . . . 17.0% 18.6% 13.3% 14.6% ====== ====== ====== ======
KIMBERLY-CLARK CORPORATION NET SALES BY BUSINESS SEGMENT YEAR ENDED DECEMBER 31 ($ millions) AS REPORTED AS RECLASSIFIED ___________ _______________ 1999 Personal Care........................ $ 5,138.1 $ 4,695.2 Consumer Tissue...................... 4,855.0 4,266.1 Business-to-Business................. 3,156.6 3,082.6 Intersegment Sales................... (142.9) (142.9) _________ _________ Total.............................. $13,006.8 $11,901.0 ========= ========= 2000 Personal Care........................ $ 5,437.6 $ 4,959.9 Consumer Tissue...................... 5,061.3 4,552.0 Business-to-Business................. 3,678.9 3,593.4 Intersegment Sales................... (195.8) (195.8) _________ _________ Total.............................. $13,982.0 $12,909.5 ========= ========= 2001 Personal Care........................ $ 5,677.6 $ 5,156.6 Consumer Tissue...................... 5,383.5 4,747.9 Business-to-Business................. 3,624.8 3,544.6 Intersegment Sales................... (161.5) (161.5) _________ _________ Total.............................. $14,524.4 $13,287.6 ========= =========
KIMBERLY-CLARK CORPORATION 2001 QUARTERLY NET SALES BY BUSINESS SEGMENT ($ millions) AS REPORTED AS RECLASSIFIED ___________ _______________ 1ST QUARTER Personal Care....................... $1,377.1 $1,259.1 Consumer Tissue..................... 1,377.0 1,231.5 Business-to-Business................ 903.4 881.7 Intersegment Sales.................. (49.1) (49.1) ________ ________ Total............................. $3,608.4 $3,323.2 ======== ======== 2ND QUARTER Personal Care....................... $1,413.7 $1,282.6 Consumer Tissue..................... 1,244.4 1,106.4 Business-to-Business................ 914.0 894.2 Intersegment Sales.................. (37.9) (37.9) ________ ________ Total............................. $3,534.2 $3,245.3 ======== ======== 3RD QUARTER Personal Care....................... $1,473.6 $1,330.8 Consumer Tissue..................... 1,358.3 1,183.8 Business-to-Business................ 915.0 896.0 Intersegment Sales.................. (36.9) (36.9) ________ ________ Total............................. $3,710.0 $3,373.7 ======== ======== 4TH QUARTER Personal Care....................... $1,413.2 $1,284.1 Consumer Tissue..................... 1,403.8 1,226.2 Business-to-Business................ 892.4 872.7 Intersegment Sales.................. (37.6) (37.6) ________ ________ Total............................. $3,671.8 $3,345.4 ======== ========
KIMBERLY-CLARK CORPORATION NET SALES BY GEOGRAPHIC AREA YEAR ENDED DECEMBER 31 ($ millions) AS REPORTED AS RECLASSIFIED ___________ _______________ 1999 United States....................... $ 8,392.5 $ 7,790.0 Canada.............................. 843.4 806.0 Less: intergeographic items......... (507.4) (507.4) _________ _________ North America..................... 8,728.5 8,088.6 Europe.............................. 2,544.7 2,219.5 Asia, Latin America and Other....... 2,084.6 1,943.9 _________ _________ Combined.......................... 13,357.8 12,252.0 Less: intergeographic items....... (351.0) (351.0) _________ _________ Consolidated........................ $13,006.8 $11,901.0 ========= ========= 2000 United States....................... $ 9,059.4 $ 8,460.5 Canada.............................. 990.3 954.2 Less: intergeographic items......... (673.5) (673.5) _________ _________ North America..................... 9,376.2 8,741.2 Europe.............................. 2,474.5 2,201.7 Asia, Latin America and Other....... 2,680.5 2,515.8 _________ _________ Combined.......................... 14,531.2 13,458.7 Less: intergeographic items....... (549.2) (549.2) _________ _________ Consolidated........................ $13,982.0 $12,909.5 ========= ========= 2001 United States....................... $ 9,327.7 $ 8,638.3 Canada.............................. 938.3 900.7 Less: intergeographic items......... (694.7) (694.7) _________ _________ North America..................... 9,571.3 8,844.3 Europe.............................. 2,648.4 2,341.3 Asia, Latin America and Other....... 2,864.4 2,661.7 _________ _________ Combined.......................... 15,084.1 13,847.3 Less: intergeographic items....... (559.7) (559.7) _________ _________ Consolidated........................ $14,524.4 $13,287.6 ========= =========
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