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Consolidated Balance Sheet - USD ($)
$ in Millions
Dec. 31, 2020
Dec. 31, 2019
Current Assets    
Cash and cash equivalents $ 303 $ 442
Accounts receivable, net 2,235 2,263
Inventories 1,903 1,790
Other current assets 733 562
Total Current Assets 5,174 5,057
Property, Plant and Equipment, Net 8,042 7,450
Investments in Equity Companies 300 268
Goodwill [1] 1,895 1,467
Intangible Assets, Net (Excluding Goodwill) 832 29
Other Assets 1,280 1,012
TOTAL ASSETS 17,523 15,283
Current Liabilities    
Debt payable within one year 486 1,534
Trade accounts payable 3,336 3,055
Accrued expenses and other current liabilities 2,262 1,978
Dividends payable 359 352
Total Current Liabilities 6,443 6,919
Long-Term Debt 7,878 6,213
Noncurrent Employee Benefits 864 897
Deferred Income Tax Liabilities, Net 723 511
Other Liabilities 718 520
Redeemable Preferred Securities of Subsidiaries 28 29
Stockholders' Equity    
Preferred stock - no par value - authorized 20.0 million shares, none issued 0 0
Common stock - $1.25 par value - authorized 1.2 billion shares;
issued 378.6 million shares at December 31, 2020 and 2019 473 473
Additional paid-in capital 657 556
Common stock held in treasury, at cost - 39.9 and 37.1 million
shares at December 31, 2020 and 2019, respectively (4,899) (4,454)
Retained earnings 7,567 6,686
Accumulated other comprehensive income (loss) (3,172) (3,294)
Total Kimberly-Clark Corporation Stockholders' Equity 626 (33)
Noncontrolling Interests 243 227
Total Stockholders' Equity 869 194
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 17,523 $ 15,283
[1] Stockholders' Equity
The changes in the components of AOCI attributable to Kimberly-Clark, net of tax, are as follows:
Unrealized TranslationDefined Benefit Pension PlansOther Postretirement Benefit PlansCash Flow Hedges and Other
Balance as of December 31, 2018$(2,297)$(1,017)$12 $
Other comprehensive income (loss) before reclassifications
26 (27)(24)(22)
(Income) loss reclassified from AOCI— 65 (a)(1)(a)(12)
Net current period other comprehensive income (loss)26 38 (25)(34)
Balance as of December 31, 2019(2,271)(979)(13)(31)
Other comprehensive income (loss) before reclassifications
114 4 (26)(31)
(Income) loss reclassified from AOCI 63 (a)(1)(a)(1)
Net current period other comprehensive income (loss)114 67 (27)(32)
Balance as of December 31, 2020$(2,157)$(912)$(40)$(63)
(a)    Included in computation of net periodic pension and other postretirement benefits costs (see Note 7).
Included in the above defined benefit pension plans and other postretirement benefit plans balances as of December 31, 2020 is $958 and $6 of unrecognized net actuarial loss and unrecognized net prior service credit, respectively.
The changes in the components of AOCI attributable to Kimberly-Clark, including the tax effect, are as follows:
Year Ended December 31
202020192018
Unrealized translation$98 $21 $(408)
Tax effect(a)
16 (25)
114 26 (433)
Defined benefit pension plans
Unrecognized net actuarial loss and transition amount
Funded status recognition24 (17)(57)
Amortization
41 44 47 
Settlements and curtailments49 46 134 
Currency and other(26)(13)29 
88 60 153 
Unrecognized prior service cost/credit
Funded status recognition2 (1)(22)
Amortization
(4)(5)(8)
Curtailments (1)
Currency and other1 (2)(1)
(1)(9)(29)
Tax effect(a)
(20)(13)(165)
67 38 (41)
Other postretirement benefit plans
Unrecognized net actuarial loss and transition amount and other
(35)(35)79 
Tax effect(a)
8 10 (28)
(27)(25)51 
Cash flow hedges and other
Recognition of effective portion of hedges
(32)(23)56 
Amortization
(2)(16)12 
Currency and other(5)(1)(2)
Tax effect(a)
7 (23)
(32)(34)43 
Change in AOCI
$122 $$(380)
(a) The Tax effect for Unrealized translation, Defined benefit pension plans, Other postretirement benefit plans and Cash flow hedges and other includes reductions of $18, $125, $5 and $8, respectively, for stranded tax effects reclassified from AOCI to Retained earnings in 2018.
Amounts are reclassified from AOCI into Cost of products sold, Nonoperating expense, Interest expense, or Other (income) and expense, net, as applicable, in the consolidated income statement.
Net unrealized currency gains or losses resulting from the translation of assets and liabilities of foreign subsidiaries, except those in highly inflationary economies, are recorded in AOCI. For these operations, changes in exchange rates generally do not affect cash flows; therefore, unrealized translation adjustments are recorded in AOCI rather than net income. Upon sale or substantially complete liquidation of any of these subsidiaries, the applicable unrealized translation adjustment would be removed from AOCI and reported as part of the gain or loss on the sale or liquidation. The change in unrealized translation in 2020 is primarily due to the strengthening of various foreign currencies versus the U.S. dollar offset by certain currencies that weakened, most notably the Brazilian real. Also included in unrealized translation amounts are the effects of foreign exchange
rate changes on intercompany balances of a long-term investment nature and transactions designated as hedges of net foreign investments.