Exhibit No. (12)

KIMBERLY-CLARK CORPORATION AND SUBSIDIARIES

Computation of Ratio of Earnings to Fixed Charges

(Dollar amounts in millions)

	Year Ended December 31
	2010		2009		2008		2007		2006
Consolidated Companies
Income from continuing operations before income taxes	$	2,550	$	2,576	$	2,289	$	2,318	$	1,845
Interest expense		243		275		304		265		220
Interest factor in rent expense		94		90		102		88		75
Amortization of capitalized interest		14		14		13		15		16
Equity Affiliates
Share of 50%-owned:
Income before income taxes		—		—		1		2		3
Interest expense		—		—		—		—		—
Interest factor in rent expense		—		—		—		—		—
Amortization of capitalized interest		—		—		—		—		—
Distributed income of less than 50%-owned		132		114		131		130		244
Earnings	$	3,033	$	3,069	$	2,840	$	2,818	$	2,403
Consolidated Companies
Interest Expense	$	243	$	275	$	304	$	265	$	220
Capitalized interest		12		13		14		18		15
Interest factor in rent expense		94		90		102		88		75
Equity Affiliates
Share of 50%-owned:
Interest and capitalized interest		—		—		—		—		—
Interest factor in rent expense		—		—		—		—		—
Fixed Charges	$	349	$	378	$	420	$	371	$	310
Ratio of earnings to fixed charges		8.69		8.12		6.76		7.60		7.75

Note: The Corporation is liable for certain obligations of S.D. Warren Company, which was sold in December 1994. The buyer provided the Corporation 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.