Exhibit No. (12)

KIMBERLY-CLARK CORPORATION AND SUBSIDIARIES

Computation of Ratio of Earnings to Fixed Charges

(Dollar amounts in millions)

		Year Ended December 31
		2011			2010		2009		2008		2007
Consolidated Companies
Income from continuing operations before income taxes	$	2,183		$	2,550	$	2,576	$	2,289	$	2,318
Interest expense		277			243		275		304		265
Interest factor in rent expense		93			94		90		102		88
Amortization of capitalized interest		13			14		14		13		15
Equity Affiliates
Share of 50%-owned:
Income before income taxes		(1	)		-		-		1		2
Interest expense		-			-		-		-		-
Interest factor in rent expense		-			-		-		-		-
Amortization of capitalized interest		-			-		-		-		-
Distributed income of less than 50%-owned		137			132		114		131		130
Earnings	$	2,702		$	3,033	$	3,069	$	2,840	$	2,818
Consolidated Companies
Interest expense	$	277		$	243	$	275	$	304	$	265
Capitalized interest		8			12		13		14		18
Interest factor in rent expense		93			94		90		102		88
Equity Affiliates
Share of 50%-owned:
Interest and capitalized interest		-			-		-		-		-
Interest factor in rent expense		-			-		-		-		-
Fixed Charges	$	378		$	349	$	378	$	420	$	371
Ratio of earnings to fixed charges		7.15			8.69		8.12		6.76		7.60

Note: We are liable for certain obligations of S.D. Warren Company, which was sold in December 1994. The buyer provided us with a letter of credit from a major financial institution guaranteeing repayment of these obligations. No losses are expected from these arrangements and they have not been included in the computation of earnings to fixed charges.