EX-99 3 ex992.htm EXHIBIT 99.2 8-K EDGAR Filing

Exhibit 99.2

KIMBERLY-CLARK CORPORATION AND SUBSIDIARIES
CONSOLIDATED CASH FLOW STATEMENT

2004
 2003
(Millions of dollars)
 Nine
Months
Ended
Sept. 30
 Six
Months
Ended
June 30
 Three
Months
Ended
March 31
 Nine
Months
Ended
Sept. 30
Continuing Operations:                     

Operating Activities		                    
     Income from continuing operations   $ 1,320.6   $886.7   $443.8   $1,197.2  
     Depreciation and amortization    606.2    408.5    200.4    550.6  
     Deferred income tax provision    119.9    24.1  10.1    35.7
     Equity companies' earnings in excess of
        dividends paid		    (44.2 )  (36.1 )  (29.8 )  (27.5 )
     Changes in operating working capital    (48.1 )  (1.2 )  (34.4 )  113.9
     Postretirement benefits    23.3  1.5  (15.5 )  (7.7 )
     Other    79.7    39.7    30.4    116.3  
         Cash Provided by Operations    2,057.4    1,323.2    605.0    1,978.5  
Investing Activities                      
     Capital spending    (322.8 )  (218.4 )  (106.2 )  (649.1 )
     Acquisitions of businesses, net of cash acquired    --    --  --    (258.3 )
     Investments in marketable securities    (7.4 )  (4.1 )  (4.0 )  (10.8 )
     Proceeds from sales of investments    26.1    19.5    13.5    20.7  
     Net increase in time deposits    (12.0 )  (12.2 )  (6.9 )  (205.4 )
     Other    8.2    10.6    14.3    (14.6 )
         Cash Used for Investing    (307.9 )  (204.6 )  (89.3 )  (1,117.5 )
Financing Activities                      
     Cash dividends paid    (571.9 )  (372.2 )  (171.1 )  (500.0 )
     Net decrease in short-term debt    (205.7 )  (281.1 )  (165.5 )  (261.2 )
     Proceeds from issuance of long-term debt    33.6    32.9    22.1    522.7  
     Repayments of long-term debt    (184.7 )  (174.3 )  (114.9 )  (479.3 )
     Proceeds from preferred securities of subsidiary    125.0    125.0    --    --  
     Proceeds from exercise of stock options    256.1    190.9    110.7    20.3  
     Acquisitions of common stock for the treasury    (1,197.3 )  (579.1 )  (166.7 )  (357.9 )
     Other    (12.1 )  (10.4 )  1.4    (44.1 )
         Cash Used for Financing    (1,757.0 )  (1,068.3 )  (484.0 )  (1,099.5 )
Effect of Exchange Rate Changes on Cash
    and Cash Equivalents		    (4.2 )  (6.2 )  (3.2 )  12.3
Cash (Used for) Provided by Continuing
    Operations		    (11.7 )  44.1  28.5  (226.2 )
Cash Provided by Discontinued Operations    36.6  27.6  9.9  36.7
Increase (Decrease) in Cash and Cash
    Equivalents		    24.9    71.7  38.4    (189.5 )
Cash and Cash Equivalents, beginning of year    290.6    290.6    290.6    494.5  
Cash and Cash Equivalents, end of year   $ 315.5   $ 362.3   $ 329.0   $ 305.0  

 

 

 

 

1

KIMBERLY-CLARK CORPORATION AND SUBSIDIARIES
CONSOLIDATED CASH FLOW STATEMENT

Year Ended Dec.  31
(Millions of dollars)
 2003
 2002
Continuing Operations:
 		            
Operating Activities            
     Income from continuing operations   $ 1,643.6   $1,627.4  
     Depreciation and amortization    745.3    704.4  
     Deferred income tax (benefit) provision    (50.8 )  189.0
     Net losses on asset dispositions    35.0    37.7  
     Equity companies' earnings in excess of dividends paid    (9.6 )  (8.2 )
     Minority owners' share of subsidiaries' net income    55.6    58.1  
     Decrease (increase) in operating working capital    118.2    (197.8 )
     Postretirement benefits    (59.9 )  (118.5 )
     Other    74.8    49.4  
         Cash Provided by Operations    2,552.2    2,341.5  
Investing Activities            
     Capital spending    (872.9 )  (861.3 )
     Acquisitions of businesses, net of cash acquired    (258.5 )  (410.8 )
     Investments in marketable securities    (10.8 )  (9.0 )
     Proceeds from sales of investments    29.4    44.9  
     Net increase in time deposits    (149.0 )  (36.9 )
     Other    1.7    (14.2 )
         Cash Used for Investing    (1,260.1 )  (1,287.3 )
Financing Activities            
     Cash dividends paid    (671.9 )  (612.7 )
     Net decrease in short-term debt    (424.2 )  (423.9 )
     Proceeds from issuance of long-term debt    540.8    823.1  
     Repayments of long-term debt    (481.6 )  (154.6 )
     Proceeds from exercise of stock options    31.0    68.9  
     Acquisitions of common stock for the treasury    (546.7 )  (680.7 )
     Other    (18.3 )  (34.9 )
         Cash Used for Financing    (1,570.9 )  (1,014.8 )
Effect of Exchange Rate Changes on Cash and Cash
    Equivalents		    18.6    14.7  
Cash (Used for) Provided by Continuing
    Operations		    (260.2 )  54.1
Discontinued Operations:            
    Cash provided by Neenah Paper, Inc.    56.3  75.9
    Cash payment from Neenah Paper, Inc.    --  --
    Cash Provided by Discontinued Operations    56.3  75.9
(Decrease) Increase in Cash and Cash Equivalents    (203.9 )  130.0
Cash and Cash Equivalents, beginning of year    494.5    364.5  
Cash and Cash Equivalents, end of year   $ 290.6   $ 494.5  

 

 

 

 

2