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Consolidated Balance Sheet - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Current Assets    
Cash and cash equivalents $ 427 $ 270
Accounts receivable, net 2,280 2,207
Inventories 2,269 2,239
Other current assets 753 849
Total Current Assets 5,729 5,565
Property, Plant and Equipment, Net 7,885 8,097
Investments in Equity Companies 238 290
Goodwill [1] 2,074 1,840
Intangible Assets, Net (Excluding Goodwill) 851 810
Other Assets 1,193 1,235
TOTAL ASSETS 17,970 17,837
Current Liabilities    
Debt payable within one year 844 433
Trade accounts payable 3,813 3,840
Accrued expenses and other current liabilities 2,289 2,096
Dividends payable 388 380
Total Current Liabilities 7,334 6,749
Long-Term Debt 7,578 8,141
Noncurrent Employee Benefits 654 809
Deferred Income Tax Liabilities, Net 647 694
Other Liabilities 799 681
Redeemable Common and Preferred Securities of Subsidiaries $ 258 $ 26
Preferred stock, shares issued 0 0
Preferred stock, shares authorized 20,000,000.0 20,000,000.0
Preferred stock, par value per share $ 0 $ 0
Common stock, shares authorized 1,200,000,000 1,200,000,000
Common stock, shares issued 378,600,000 378,600,000
Common stock, par value per share $ 1.25 $ 1.25
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, 2022 and 2021 473 473
Additional paid-in capital $ 679 $ 605
Common stock held in treasury, shares 41,100,000 41,800,000
Common stock held in treasury, at cost - 41.1 and 41.8 million
shares at December 31, 2022 and 2021, respectively $ (5,137) $ (5,183)
Retained earnings 8,201 7,858
Accumulated other comprehensive income (loss) (3,669) (3,239)
Total Kimberly-Clark Corporation Stockholders' Equity 547 514
Noncontrolling Interests 153 223
Total Stockholders' Equity 700 737
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 17,970 $ 17,837
[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, 2020$(2,157)$(912)$(40)$(63)
Other comprehensive income (loss) before reclassifications
(265)37 53 
(Income) loss reclassified from AOCI— 72 (a)(3)(a)30 
Net current period other comprehensive income (loss)(265)109 83 
Balance as of December 31, 2021(2,422)(803)(34)20 
Other comprehensive income (loss) before reclassifications
(347)(51)86 (139)
(Income) loss reclassified from AOCI 65 (a) (a)(44)
Net current period other comprehensive income (loss)(347)14 86 (183)
Balance as of December 31, 2022$(2,769)$(789)$52 $(163)
(a)    Included in computation of net periodic pension and other postretirement benefits costs (see Note 8).
Included in the above defined benefit pension plans and other postretirement benefit plans balances as of December 31, 2022 is $735 and $2 of unrecognized net actuarial loss and unrecognized net prior service credit, respectively.
The changes in the components of AOCI attributable to Kimberly-Clark, including the tax effect, are as follows:
Year Ended December 31
202220212020
Unrealized translation$(324)$(248)$98 
Tax effect(23)(17)16 
(347)(265)114 
Defined benefit pension plans
Unrecognized net actuarial loss and transition amount
Funded status recognition(109)16 24 
Amortization
34 37 41 
Settlements and curtailments52 91 49 
Currency and other36 10 (26)
13 154 88 
Unrecognized prior service cost/credit
Funded status recognition2 (2)
Amortization
 (4)(4)
Curtailments (3)— 
Currency and other — 
2 (9)(1)
Tax effect(1)(36)(20)
14 109 67 
Other postretirement benefit plans
Unrecognized net actuarial loss and transition amount and other
113 12 (35)
Tax effect(27)(6)
86 (27)
Cash flow hedges and other
Recognition of effective portion of hedges
(165)70 (32)
Amortization
(58)39 (2)
Currency and other(22)(4)(5)
Tax effect62 (22)
(183)83 (32)
Change in AOCI
$(430)$(67)$122 
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 2022 is primarily due to the weakening of various foreign currencies versus the U.S. dollar, particularly the Indonesian rupiah and the British pound. 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.