0000055785FALSE00000557852024-07-232024-07-230000055785us-gaap:CommonStockMember2024-07-232024-07-230000055785pre:A0.625NotesDue2024Member2024-07-232024-07-23

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report: July 23, 2024
(Date of earliest event reported)
K-C Logo Blue (JPG).jpg

KIMBERLY-CLARK CORPORATION
(Exact name of registrant as specified in its charter)
Delaware1-22539-0394230
(State or other jurisdiction of incorporation)(Commission file number)(I.R.S. Employer Identification No.)
P.O. Box 619100
Dallas, TX
75261-9100
(Address of principal executive offices)
(Zip code)

Registrant’s telephone number, including area code: (972) 281-1200

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered
Common StockKMBNew York Stock Exchange
0.625% Notes due 2024KMB24New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐



Item 2.02    Results of Operations and Financial Condition.

Attached and incorporated herein by reference as Exhibit 99.1 is a copy of the press release of Kimberly-Clark Corporation (the "Corporation"), dated July 23, 2024 reporting the Corporation’s results of operations for the period ended June 30, 2024.

The information, including exhibits attached hereto, in Item 2.02 of this Current Report is being furnished and shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section. The information in Item 2.02 of this Current Report shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended, except as otherwise expressly stated in such filing.

Item 9.01    Financial Statements and Exhibits.

(a)Exhibits.

101    Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document.
104    The cover page from this Current Report on Form 8-K, formatted as Inline XBRL.



SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.





KIMBERLY-CLARK CORPORATION
Date: July 23, 2024By:/s/ Andrew S. Drexler
Andrew S. Drexler
Vice President and Controller





Exhibit 99.1
k-clogobluejpg.jpg

Kimberly-Clark Announces Second Quarter 2024 Results and Raises 2024 Outlook
Delivers net sales of $5.0 billion driven by 4 percent organic sales growth
Strong EPS expansion driven by innovation-led volume gains, effective cost management and productivity
Company increases 2024 earnings outlook to reflect strong first half


DALLAS, July 23, 2024 - Kimberly-Clark Corporation (NYSE: KMB) today reported second quarter 2024 results characterized by positive volume and mix gains driven by pioneering, innovative new products, leveraging continued productivity momentum for strong earnings growth versus the prior-year period.
“I am very proud of how our teams around the world have advanced our new operating model and delivered high quality, top and bottom-line results in the first half of this year. We have made strong progress while navigating dynamic consumer and retail environments," said Kimberly-Clark Chairman and CEO Mike Hsu.
“We have a strong foundation that we can leverage to accelerate investments across the enterprise. Our focus is to deliver high-quality consumer solutions at every price point, increase our operational scale, and enhance our long-term potential. We’re excited about our opportunities to capitalize on our momentum to deliver our enduring goal of enhancing value for all our stakeholders.”
Quarter Highlights
•Net sales of $5.0 billion were down 2 percent, with organic sales growth of 4 percent versus the prior year.
•Reported gross margin was 36.0 percent, adjusted gross margin was 36.9 percent, up 290 basis points versus the prior year, driven by organic net sales growth and gross productivity gains.
•Diluted earnings per share were $1.61; adjusted earnings per share were $1.96, up 19 percent versus prior year including a $0.12 year-on-year headwind from currency translation.
Second Quarter 2024 Results
Second quarter sales of $5.0 billion were 2 percent lower than the prior-year period, including negative impacts of approximately 5 percent from foreign currency translation and approximately 1 percent from the divestiture of the Tissue and K-C Professional business in Brazil in June 2023. Organic sales increased 4 percent, driven by a 2 percent increase in price and a 2 percent increase through a combination of volume and mix. Price-led gains reflected necessary pricing actions to address higher local costs in hyperinflationary economies, mainly in Argentina. Volume and mix were positive across North America, Developing and Emerging (D&E) markets, as well as Developed Markets (representing Australia, South Korea and Western/Central Europe).
In North America, organic sales increased 1 percent versus the prior year, driven by 5 percent growth in Personal Care, partially offset by a decline of 4 percent in K-C Professional and 2 percent in Consumer Tissue.
In D&E markets, organic sales rose 12 percent reflecting both pricing gains as well as volume and mix gains. Organic sales for Developed Markets were 3 percent lower, driven by lower pricing that primarily reflected comparisons with temporary, energy surcharge-related price increases in Western Europe in the prior-year period.

-2-
Second quarter operating profit was $655 million, including $190 million of costs related to the company's 2024 Transformation Initiative. Adjusted operating profit increased by 16 percent despite an unfavorable impact of 7 percentage points from currency translation that was primarily driven by hyperinflationary economies. Excluding currency impacts, growth in adjusted operating profit was driven by a combination of organic growth, gross productivity gains that were partially offset by input cost inflation, primarily in D&E markets, supply chain related investments, and planned increases in marketing, research and general expenses.
Net interest expense was $63 million versus $67 million in the prior-year period.
The second quarter effective tax rate was 15.1 percent. On an adjusted basis, the effective rate in the second quarter was 20.9 percent compared to 20.5 percent in the prior year.
Net income of equity companies was $63 million compared to $50 million last year driven by greater income from Kimberly-Clark de Mexico.
Diluted EPS was $1.61 on a reported basis and included a negative $0.35 impact from costs related to the company's transformation initiatives. On an adjusted basis, EPS increased 19 percent to $1.96, driven primarily by the 16 percent increase in adjusted operating profit, aided by lower net interest and higher equity income.
Year-To-Date Results
For the first half of the year, sales of $10.2 billion decreased 1 percent including negative impacts of approximately 5 percent from foreign currency translation and approximately 1 percent impact of the exit of the tissue and K-C Professional business in Brazil. Organic sales grew 5 percent, driven by an approximately 3 percent increase in price, primarily in hyperinflationary markets, 1 percent from favorable product mix and 1 percent increase in volume.
Year-to-date operating profit was $1.5 billion, including $235 million of costs related to the company's transformation initiative.
Year-to-date adjusted operating profit was $1.7 billion in 2024 versus $1.5 billion in 2023. This was an increase of 15 percent versus prior year including an unfavorable impact of 9 percentage points from currency translation, primarily driven by hyperinflationary economies. Excluding currency impacts, the growth in adjusted operating profit was driven by a combination of organic growth and strong productivity savings that were partially offset by input cost inflation, primarily in D&E markets, supply chain related investments, and planned increases in marketing, research and general expenses.
Through the first half of the year, diluted earnings per share were $3.52 in 2024 compared to $1.97 last year. Year-to-date adjusted earnings per share were $3.97 compared to $3.32 last year.

-3-
Business Segment Net Sales Results
Q2 change vs year ago (%)VolumeMix/OtherPrice
Divestitures and Business Exits(a)
Currency
Total(b)
Organic(c)
Personal Care314—(8)—8
North America41———55
D&E Markets2112—(20)(5)15
Developed Markets(1)—(2)—(2)(6)(4)
Consumer Tissue——(1)(2)—(4)(2)
North America(3)(1)2——(2)(2)
D&E Markets—(1)(3)(11)(1)(15)(4)
Developed Markets5—(6)—(1)(2)(1)
KC Professional—1(1)(3)(2)(5)—
North America(3)—(1)——(4)(4)
D&E Markets7110(16)(12)(10)20
Developed Markets31(9)—(1)(5)(4)
Consolidated1—2(1)(5)(2)4

YTD change vs year ago (%)VolumeMix/OtherPrice
Divestitures and Business Exits(a)
Currency
Total(b)
Organic(c)
Personal Care216—(9)—9
North America31———44
D&E Markets3116—(22)(2)19
Developed Markets(2)—(1)—(2)(5)(3)
Consumer Tissue——(1)(2)—(3)(1)
North America——2——22
D&E Markets(4)—(3)(12)(1)(20)(8)
Developed Markets4—(5)——(2)(1)
KC Professional(1)11(3)(2)(4)1
North America(3)1———(2)(3)
D&E Markets3112(14)(11)(11)17
Developed Markets31(7)—(1)(3)(3)
Consolidated113(1)(5)(1)5
(a)    Impact of the sale of Brazil tissue and K-C Professional business.
(b)    Total may not equal the sum of volume, mix/other, net price, divestitures and business exits and currency due to rounding and excludes intergeographic sales.    
(c)    Combined impact of changes in volume, mix/other and net price excluding prior year's impact of divestitures and business exits.


-4-
Personal Care Segment
Personal Care sales of $2.7 billion were in line with the year-ago period, while organic sales increased 8 percent from a combination of pricing actions in hyperinflationary economies as well as volume and mix gains. Innovation, solid commercial execution and supply improvements contributed to volume growth, led by a 4 percent increase in North America and a 2 percent increase in D&E markets that was partially offset by 1 percent decline in Developed Markets.
Second quarter operating profit of $540 million increased 14 percent driven by favorable volume and mix, pricing net of cost inflation, and productivity, partially offset by investments in product quality and advertising as well as unfavorable currency.
Consumer Tissue Segment
Consumer Tissue sales of $1.5 billion decreased 4 percent, including impacts from divestitures and business exits of 2 percent and decline in organic sales of 2 percent. Organic decline was driven by retailer inventory reductions in North America as well as expected lower pricing in Western Europe due to lapping of temporary pricing related to energy surcharges in the prior year period.
Second quarter operating profit of $245 million increased 23 percent, by strong productivity gains in current year and a better balance of pricing relative to costs compared to the prior year.
K-C Professional (KCP) Segment
KCP sales of $841 million decreased 5 percent due to divestitures and business exits as well as unfavorable currency impacts. Organic sales were in line with the year-ago period with 1 percent favorable mix offset by 1 percent unfavorable price impact primarily driven by lapping of energy surcharges in Western Europe.
Second quarter operating profit of $186 million decreased 1 percent as productivity gains were offset by manufacturing cost headwinds and unfavorable price net of cost inflation in the quarter.
Cash Flow and Balance Sheet
Year-to-date cash provided by operations was $1.5 billion compared to $1.4 billion last year driven primarily by stronger operating results. Year-to-date capital spending was $352 million compared to $389 million last year. The company returned $965 million to shareholders through dividends and repurchases of common stock. Total debt was $8.0 billion as of June 30, 2024, consistent with December 31, 2023, levels.
2024 Outlook
Based on its first half results, the company has updated its 2024 outlook, with all factors compared to 2023, as follows:
Organic Net Sales are still expected to grow at mid-single digit rate while Reported Net Sales are still expected to be negatively impacted by 400 basis points of currency translation and 120 basis points from divestitures.
Adjusted Operating Profit is now expected to grow at a mid-to-high teens percentage rate on a constant-currency basis. This is up from previous expectations for low-teen Adjusted Operating Profit growth on a constant currency basis.

-5-
Adjusted Earnings Per Share is now expected to grow at a mid-to-high teens percentage rate on a constant-currency basis, an increase from previous expectations of low-teens growth.
Reported Operating Profit and Reported Earnings Per Share are still expected to be negatively impacted by approximately 700 basis points from currency translation.
This outlook reflects assumptions subject to change given the macro environment.




-6-
Supplemental Materials and Live Webcast
Supplemental materials will be available at approximately 6:30 a.m. Eastern Daylight Time in the Investor Relations section of www.kimberly-clark.com. The company will host a live Q&A session with investors and analysts on July 23, 2024, at 8:00 a.m. Eastern Daylight Time. The supplemental materials and Kimberly-Clark's Q&A session can be accessed at investor.kimberly-clark.com. A replay of the webcast will be available following the event through the same website.
About Kimberly-Clark
Kimberly-Clark (NYSE: KMB) and its trusted brands are an indispensable part of life for people in more than 175 countries and territories. Fueled by ingenuity, creativity, and an understanding of people’s most essential needs, we create products that help individuals experience more of what’s important to them. Our portfolio of brands, including Huggies, Kleenex, Scott, Kotex, Cottonelle, Poise, Depend, Andrex, Pull-Ups, GoodNites, Intimus, Plenitud, Sweety, Softex, Viva and WypAll, hold No. 1 or No. 2 share positions in approximately 70 countries. We use sustainable practices that support a healthy planet, build strong communities, and ensure our business thrives for decades to come. We are proud to be recognized as one of the World’s Most Ethical Companies(R) by Ethisphere for the fifth year in a row. To keep up with the latest news and to learn more about the company's 150-year history of innovation, visit kimberly-clark.com.
Copies of Kimberly-Clark's Annual Report to Stockholders and its proxy statements and other SEC filings, including Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, are made available free of charge on the company's website on the same day they are filed with the SEC. To view these filings, visit the Investors section of the company's website.
Forward Looking Statements
Certain matters contained in this news release concerning the business outlook, including raw material, energy and other input costs, the anticipated charges and savings from the 2024 Transformation Initiative, cash flow and uses of cash, growth initiatives, innovations, marketing and other spending, net sales, anticipated currency rates and exchange risks, including the impact in Argentina and Türkiye, effective tax rate, contingencies and anticipated transactions of Kimberly-Clark, including dividends, share repurchases and pension contributions, constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and are based upon management's expectations and beliefs concerning future events impacting Kimberly-Clark. There can be no assurance that these future events will occur as anticipated or that our results will be as estimated. Forward-looking statements speak only as of the date they were made, and we undertake no obligation to publicly update them.
The assumptions used as a basis for the forward-looking statements include many estimates that, among other things, depend on the achievement of future cost savings and projected volume increases. In addition, many factors outside our control, including the risk that we are not able to realize the anticipated benefits of the 2024 Transformation Initiative (including risks related to disruptions to our business or operations or related to any delays in implementation), war in Ukraine (including the related responses of consumers, customers, and suppliers and sanctions issued by the U.S., the European Union, Russia or other countries), pandemics, epidemics, fluctuations in foreign currency exchange rates, the prices and availability of our raw materials, supply chain

-7-
disruptions, disruptions in the capital and credit markets, counterparty defaults (including customers, suppliers and financial institutions with which we do business), failure to realize the expected benefits or synergies from our acquisition and disposition activity, impairment of goodwill and intangible assets and our projections of operating results and other factors that may affect our impairment testing, changes in customer preferences, severe weather conditions, regional instabilities and hostilities (including the war in Israel), government trade or similar regulatory actions, potential competitive pressures on selling prices for our products, energy costs, general economic and political conditions globally and in the markets in which we do business, as well as our ability to maintain key customer relationships, could affect the realization of these estimates.
The factors described under Item 1A, “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2023, or in our other SEC filings, among others, could cause our future results to differ from those expressed in any forward-looking statements made by us or on our behalf. Other factors not presently known to us or that we presently consider immaterial could also affect our business operations and financial results.
Non-GAAP Financial Measures
This news release and the accompanying tables include the following financial measures that have not been calculated in accordance with accounting principles generally accepted in the U.S., or GAAP, and are therefore referred to as non-GAAP financial measures:
•Adjusted earnings and earnings per share
•Adjusted gross and operating profit
•Adjusted effective tax rate
These non-GAAP financial measures exclude the following items for the relevant time periods as indicated in the accompanying non-GAAP reconciliation tables:
•2024 Transformation Initiative - In 2024, we initiated this transformation initiative to improve our focus on growth and reduce our structural cost base by reorganizing into three new business segments, making the corporate and regional overhead cost structures more efficient and optimizing our global supply chain. Results in 2024 include charges related to this program.
•Sale of Brazil tissue and K-C Professional business. In the second quarter of 2023, we recognized a net benefit related to the sale of our Brazil tissue and K-C Professional business.
•Impairment of intangible assets. In the second quarter of 2023, we recognized non-cash charges related to the impairment of certain intangible assets related to Softex Indonesia and Thinx.
•Pension settlements. In 2023, we recognized pension settlement charges related to lump-sum distributions from pension plan assets exceeding the total of annual service and interest costs resulting in a recognition of deferred actuarial losses.
The income tax effect of these non-GAAP items is calculated based upon the tax laws and statutory income tax rates applicable in the tax jurisdiction(s) of the underlying non-GAAP adjustment. The impact of these non-GAAP items on the Company’s effective tax rate represents the difference in the effective tax rate calculated with and without the non-GAAP adjustment on Income Before Income Taxes and Equity Interests and Provision for income taxes.

-8-
The company provides these non-GAAP financial measures as supplemental information to our GAAP financial measures. Management and the company's Board of Directors use adjusted earnings, adjusted earnings per share and adjusted gross and operating profit to (a) evaluate the company's historical and prospective financial performance and its performance relative to its competitors, (b) allocate resources and (c) measure the operational performance of the company's business units and their managers. Management also believes that the use of an adjusted effective tax rate provides improved insight into the tax effects of our ongoing business operations.
Additionally, the Management Development and Compensation Committee of the company's Board of Directors has used certain of the non-GAAP financial measures when setting and assessing achievement of incentive compensation goals. These goals are based, in part, on the company's adjusted earnings per share.
Certain non-GAAP financial measures referenced in this news release are presented on a forward-looking basis. Kimberly-Clark does not provide a reconciliation of these forward-looking non-GAAP financial measures to the most directly comparable GAAP financial measures on a forward-looking basis because it is unable to predict certain adjustment items without unreasonable effort. Please note that these items could be material to Kimberly-Clark’s results calculated in accordance with GAAP.
This news release includes information regarding organic sales growth, which describes the impact of changes in volume, net selling prices and product mix excluding prior year's impact of divestitures and business exits on net sales. Changes in foreign currency exchange rates and divestitures and business exits also impact the year-over-year change in net sales.

-9-
KIMBERLY-CLARK CORPORATION
CONSOLIDATED STATEMENTS OF INCOME
(Millions, except per share amounts)

Three Months Ended June 30
 20242023Change
Net Sales$5,029 $5,134 -2 %
Cost of products sold3,219 3,403 -5 %
Gross Profit1,810 1,731 +5 %
Marketing, research and general expenses1,066 1,015 +5 %
Impairment of intangible assets— 658 N.M.
Other (income) and expense, net89 (55)N.M.
Operating Profit655 113 +480 %
Nonoperating expense(15)(42)-64 %
Interest income9 9 — 
Interest expense(72)(76)-5 %
Income Before Income Taxes and Equity Interests577 4 N.M.
(Provision for) benefit from income taxes(87)32 N.M.
Income Before Equity Interests490 36 N.M.
Share of net income of equity companies63 50 +26 %
Net Income553 86 +543 %
Net (income) loss attributable to noncontrolling interests(9)16 N.M.
Net Income Attributable to Kimberly-Clark Corporation$544 $102 +433 %
Per Share Basis
Net Income Attributable to Kimberly-Clark Corporation
Basic$1.61 $0.30 +437 %
Diluted$1.61 $0.30 +437 %
Cash Dividends Declared$1.22 $1.18 +3 %
Common Shares OutstandingJune 30
20242023
Outstanding shares as of337.0 338.2 
Average diluted shares for three months ended338.0 338.9 













Unaudited
N.M. - Not Meaningful

-10-
KIMBERLY-CLARK CORPORATION
CONSOLIDATED STATEMENTS OF INCOME
(Millions, except per share amounts)

Six Months Ended June 30
 20242023Change
Net Sales$10,178 $10,329 -1 %
Cost of products sold6,457 6,872 -6 %
Gross Profit3,721 3,457 +8 %
Marketing, research and general expenses2,105 1,939 +9 %
Impairment of intangible assets— 658 N.M.
Other (income) and expense, net108 (40)N.M.
Operating Profit1,508 900 +68 %
Nonoperating expense(30)(58)-48 %
Interest income19 16 +19 %
Interest expense(139)(149)-7 %
Income Before Income Taxes and Equity Interests1,358 709 +92 %
Provision for income taxes(271)(141)+92 %
Income Before Equity Interests1,087 568 +91 %
Share of net income of equity companies124 93 +33 %
Net Income1,211 661 +83 %
Net (income) loss attributable to noncontrolling interests(20)7 N.M.
Net Income Attributable to Kimberly-Clark Corporation$1,191 $668 +78 %
Per Share Basis
Net Income Attributable to Kimberly-Clark Corporation
Basic$3.53 $1.98 +78 %
Diluted$3.52 $1.97 +79 %
Cash Dividends Declared$2.44 $2.36 +3 %
Common Shares OutstandingJune 30
20242023
Average diluted shares for six months ended338.2 338.7 














Unaudited
N.M. - Not Meaningful


-11-
KIMBERLY-CLARK CORPORATION
NON-GAAP RECONCILIATIONS
(Millions, except per share amounts)

Three Months Ended June 30, 2024
As
Reported		2024 Transformation InitiativeAs
Adjusted
Non-GAAP
Cost of products sold$3,219 $45 $3,174 
Gross Profit1,810 (45)1,855 
Marketing, research and general expenses1,066 70 996 
Other (income) and expense, net89 75 14 
Operating Profit655 (190)845 
Provision for income taxes(87)73 (160)
Effective tax rate15.1 %— 20.9 %
Net Income Attributable to Kimberly-Clark Corporation544 (117)661 
Diluted Earnings per Share(a)
1.61 (0.35)1.96 

Three Months Ended June 30, 2023
As
Reported		Sale of Brazil Tissue and K-C Professional BusinessImpairment of Intangible AssetsPension SettlementsAs
Adjusted
Non-GAAP
Cost of products sold$3,403 $15 $— $— $3,388 
Gross Profit1,731 (15)— — 1,746 
Marketing, research and general expenses1,015 15 — — 1,000 
Impairment of intangible assets658 — 658 — — 
Other (income) and expense, net(55)(74)— — 19 
Operating Profit113 44 (658)— 727 
Nonoperating expense(42)— — (27)(15)
(Provision for) benefit from income taxes32 (18)175 7 (132)
Effective tax rateN.M.— — — 20.5 %
Net (income) loss attributable to noncontrolling interests16 — 20 — (4)
Net Income Attributable to Kimberly-Clark Corporation102 26 (463)(20)559 
Diluted Earnings per Share(a)
0.30 0.08 (1.36)(0.06)1.65 
(a)"As Adjusted Non-GAAP" may not equal "As Reported" plus "Adjustments" as a result of rounding.
N.M. - Not Meaningful









Unaudited


-12-
KIMBERLY-CLARK CORPORATION
NON-GAAP RECONCILIATIONS
(Millions, except per share amounts)

Six Months Ended June 30, 2024
As
Reported		2024 Transformation InitiativeAs
Adjusted
Non-GAAP
Cost of products sold$6,457 $45 $6,412 
Gross Profit3,721 (45)3,766 
Marketing, research and general expenses2,105 115 1,990 
Other (income) and expense, net108 75 33 
Operating Profit1,508 (235)1,743 
Provision for income taxes(271)84 (355)
Effective tax rate20.0 %— 22.3 %
Net Income Attributable to Kimberly-Clark Corporation1,191 (151)1,342 
Diluted Earnings per Share(a)
3.52 (0.45)3.97 

Six Months Ended June 30, 2023
As
Reported		Sale of Brazil Tissue and K-C Professional BusinessImpairment of Intangible Assets Pension SettlementsAs
Adjusted
Non-GAAP
Cost of products sold$6,872 $15 $— $— $6,857 
Gross Profit3,457 (15)— — 3,472 
Marketing, research and general expenses1,939 15 — — 1,924 
Impairment of intangible assets658 — 658 — — 
Other (income) and expense, net(40)(74)— — 34 
Operating Profit900 44 (658)— 1,514 
Nonoperating expense(58)— — (27)(31)
Provision for income taxes(141)(18)175 7 (305)
Effective tax rate19.9 %— — — 22.6 %
Net (income) loss attributable to noncontrolling interests7 — 20 — (13)
Net Income Attributable to Kimberly-Clark Corporation668 26 (463)(20)1,125 
Diluted Earnings per Share(a)
1.97 0.08 (1.36)(0.06)3.32 
(a)"As Adjusted Non-GAAP" may not equal "As Reported" plus "Adjustments" as a result of rounding.

Non-GAAP financial measures are not meant to be considered in isolation or as a substitute for the comparable GAAP measures, and they should be read only in conjunction with the company's consolidated financial statements prepared in accordance with GAAP. There are limitations to these non-GAAP financial measures because they are not prepared in accordance with GAAP and may not be comparable to similarly titled measures of other companies due to potential differences in methods of calculation and items being excluded. The company compensates for these limitations by using these non-GAAP financial measures as a supplement to the GAAP measures and by providing reconciliations of the non-GAAP and comparable GAAP financial measures.



Unaudited


-13-
KIMBERLY-CLARK CORPORATION
CONSOLIDATED BALANCE SHEETS
(Millions)

June 30, 2024December 31, 2023
ASSETS
Current Assets
Cash and cash equivalents$1,163 $1,093 
Accounts receivable, net2,306 2,135 
Inventories1,915 1,955 
Other current assets565 520 
Total Current Assets5,949 5,703 
Property, Plant and Equipment, Net7,620 7,913 
Investments in Equity Companies381 306 
Goodwill2,019 2,085 
Other Intangible Assets, Net183 197 
Other Assets1,128 1,140 
TOTAL ASSETS$17,280 $17,344 
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities
Debt payable within one year$806 $567 
Trade accounts payable3,613 3,653 
Accrued expenses and other current liabilities2,184 2,316 
Dividends payable408 394 
Total Current Liabilities7,011 6,930 
Long-Term Debt7,158 7,417 
Noncurrent Employee Benefits640 669 
Deferred Income Taxes380 374 
Other Liabilities784 860 
Redeemable Preferred Securities of Subsidiaries26 26 
Stockholders' Equity
Kimberly-Clark Corporation1,136 915 
Noncontrolling Interests145 153 
Total Stockholders' Equity1,281 1,068 
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY$17,280 $17,344 












2024 Data is Unaudited


-14-
KIMBERLY-CLARK CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Millions)

Six Months Ended June 30
20242023
Operating Activities
Net income$1,211 $661 
Depreciation and amortization373 377 
Asset impairments5 676 
Stock-based compensation71 71 
Deferred income taxes(79)(238)
Net (gains) losses on asset and business dispositions83 (71)
Equity companies' earnings (in excess of) less than dividends paid(82)(60)
Operating working capital(135)(35)
Postretirement benefits3 26 
Other9 (7)
Cash Provided by Operations1,459 1,400 
Investing Activities
Capital spending(352)(389)
Proceeds from asset and business dispositions14 218 
Investments in time deposits(242)(388)
Maturities of time deposits235 470 
Other(31)14 
Cash Used for Investing(376)(75)
Financing Activities
Cash dividends paid(809)(790)
Change in short-term debt7 (307)
Debt proceeds— 357 
Debt repayments— (350)
Proceeds from exercise of stock options41 96 
Acquisitions of common stock for the treasury(156)(63)
Cash paid for redemption of common securities of Thinx— (48)
Cash dividends paid to noncontrolling interests(19)(16)
Other(62)(31)
Cash Used for Financing(998)(1,152)
Effect of Exchange Rate Changes on Cash and Cash Equivalents(15)(20)
Change in Cash and Cash Equivalents70 153 
Cash and Cash Equivalents - Beginning of Period1,093 427 
Cash and Cash Equivalents - End of Period$1,163 $580 





Unaudited


-15-
KIMBERLY-CLARK CORPORATION
SELECTED BUSINESS SEGMENT DATA
(Millions)

Three Months Ended June 30Six Months Ended June 30
 20242023Change20242023Change
NET SALES
Personal Care$2,692 $2,685 — $5,405 $5,389 — 
Consumer Tissue1,486 1,549 -4 %3,085 3,183 -3 %
K-C Professional841 887 -5 %1,664 1,734 -4 %
Corporate & Other10 13 N.M.24 23 N.M.
TOTAL NET SALES$5,029 $5,134 -2 %$10,178 $10,329 -1 %
OPERATING PROFIT
Personal Care$540 $472 +14 %$1,085 $959 +13 %
Consumer Tissue245 200 +23 %535 440 +22 %
K-C Professional186 187 -1 %374 346 +8 %
Corporate & Other(a)
(227)(801)N.M.(378)(885)N.M.
Other (income) and expense, net(a)
89 (55)N.M.108 (40)N.M.
TOTAL OPERATING PROFIT$655 $113 +480 %$1,508 $900 +68 %
(a)Corporate & Other and Other (income) and expense, net include income and expense not associated with the ongoing operations of the business segments, including adjustments as indicated in the Non-GAAP Reconciliations.














Unaudited
N.M. - Not Meaningful








Investor Relations contact: Christopher Jakubik, CFA, KC.InvestorRelations@kcc.com
Media Relations contact: David Kellis, media.relations@kcc.com

[KMB-F]
###


v3.24.2
Cover Page Cover Page
Jul. 23, 2024
Entity Information [Line Items]  
Document Type 8-K
Document Period End Date Jul. 23, 2024
Entity Registrant Name KIMBERLY-CLARK CORPORATION
Entity Incorporation, State or Country Code DE
Entity File Number 1-225
Entity Tax Identification Number 39-0394230
Entity Address, Address Line One P.O. Box 619100
Entity Address, City or Town Dallas,
Entity Address, State or Province TX
Entity Address, Postal Zip Code 75261-9100
City Area Code (972)
Local Phone Number 281-1200
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity Emerging Growth Company false
Entity Central Index Key 0000055785
Amendment Flag false
Common Stock  
Entity Information [Line Items]  
Title of 12(b) Security Common Stock
Trading Symbol KMB
Security Exchange Name NYSE
0.625% Notes Due 2024  
Entity Information [Line Items]  
Title of 12(b) Security 0.625% Notes due 2024
Trading Symbol KMB24
Security Exchange Name NYSE
Kimberly Clark (NYSE:KMB)
Gráfica de Acción Histórica
De Jun 2024 a Jul 2024 Haga Click aquí para más Gráficas Kimberly Clark.
Kimberly Clark (NYSE:KMB)
Gráfica de Acción Histórica
De Jul 2023 a Jul 2024 Haga Click aquí para más Gráficas Kimberly Clark.