Kimberly-Clark (KMB) 10-K 2013 FY Annual report

Exhibit No. (12)

KIMBERLY-CLARK CORPORATION AND SUBSIDIARIES

Computation of Ratio of Earnings to Fixed Charges

(Dollar amounts in millions)

	Year Ended December 31
	2013		2012		2011			2010		2009
Consolidated Companies
Income from continuing operations before income taxes	$	2,945	$	2,420	$	2,183		$	2,550	$	2,576
Interest expense	283		284		277			243		275
Interest factor in rent expense	111		94		93			94		90
Amortization of capitalized interest	12		11		13			14		14
Equity Affiliates
Share of 50%-owned:
Income before income taxes	6		3		(1		)	-		-
Interest expense	-		-		-			-		-
Interest factor in rent expense	-		-		-			-		-
Amortization of capitalized interest	-		-		-			-		-
Distributed income of less than 50%-owned	163		148		137			132		114
Earnings	$	3,520	$	2,960	$	2,702		$	3,033	$	3,069
Consolidated Companies
Interest expense	$	283	$	284	$	277		$	243	$	275
Capitalized interest	14		9		8			12		13
Interest factor in rent expense	111		94		93			94		90
Equity Affiliates
Share of 50%-owned:
Interest and capitalized interest	-		-		-			-		-
Interest factor in rent expense	-		-		-			-		-
Fixed Charges	$	408	$	387	$	378		$	349	$	378
Ratio of earnings to fixed charges	8.63		7.65		7.15			8.69		8.12