Document_and_Entity_Informatio
Document and Entity Information Document (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Feb. 11, 2015 | Jun. 30, 2014 | |
Entity Information [Line Items] | |||
Entity Registrant Name | KIMBERLY CLARK CORP | ||
Entity Central Index Key | 55785 | ||
Current Fiscal Year End Date | -19 | ||
Entity Filer Category | Large Accelerated Filer | ||
Document Type | 10-K | ||
Document Period End Date | 31-Dec-14 | ||
Document Fiscal Year Focus | 2014 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | FALSE | ||
Entity Common Stock, Shares Outstanding | 365,468,649 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Public Float | $41,600,000,000 |
Consolidated_Income_Statement
Consolidated Income Statement (USD $) | 12 Months Ended | |||||
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||
Income Statement [Abstract] | ||||||
Net Sales | $19,724 | [1] | $19,561 | [1] | $19,467 | [1] |
Cost of products sold | 13,041 | 12,952 | 13,338 | |||
Gross Profit | 6,683 | 6,609 | 6,129 | |||
Marketing, research and general expenses | 3,709 | 3,699 | 3,757 | |||
Other (income) and expense, net | 453 | 7 | [2] | -5 | [2] | |
Operating Profit | 2,521 | [2] | 2,903 | [2] | 2,377 | [2] |
Interest income | 18 | 20 | 18 | |||
Interest expense | -284 | -282 | -285 | |||
Income From Continuing Operations Before Income Taxes and Equity Interests | 2,255 | 2,641 | 2,110 | |||
Provision for income taxes | -856 | -828 | -660 | |||
Income From Continuing Operations Before Equity Interests | 1,399 | 1,813 | 1,450 | |||
Share of net income of equity companies | 146 | 205 | 177 | |||
Income From Continuing Operations | 1,545 | 2,018 | 1,627 | |||
Income from discontinued operations, net of income taxes | 50 | 203 | 201 | |||
Net Income | 1,595 | 2,221 | 1,828 | |||
Net income attributable to noncontrolling interests in continuing operations | -69 | -79 | -78 | |||
Net Income Attributable to Kimberly-Clark Corporation | $1,526 | $2,142 | $1,750 | |||
Basic | ||||||
Continuing operations (per share) | $3.94 | $5.05 | $3.94 | |||
Discontinued operations (per share) | $0.13 | $0.53 | $0.51 | |||
Net income (per share) | $4.07 | $5.58 | $4.45 | |||
Diluted | ||||||
Continuing operations (per share) | $3.91 | $5.01 | $3.91 | |||
Discontinued operations (per share) | $0.13 | $0.52 | $0.51 | |||
Net income (per share) | $4.04 | $5.53 | $4.42 | |||
Cash Dividends Declared (per share) | $3.36 | $3.24 | $2.96 | |||
[1] | Net sales in the United States to third parties totaled $8,573, $8,557 and $8,514 in 2014, 2013 and 2012, respectively. | |||||
[2] | Segment operating profit excludes other (income) and expense, net and income and expenses not associated with the business segments. |
Consolidated_Statement_of_Comp
Consolidated Statement of Comprehensive Income (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Statement of Comprehensive Income [Abstract] | |||
Net income | $1,595 | $2,221 | $1,828 |
Other Comprehensive Income (Loss), Net of Tax | |||
Unrealized currency translation adjustments | -835 | -494 | 215 |
Employee postretirement benefits | -275 | 302 | -377 |
Other | 20 | 17 | -16 |
Total Other Comprehensive Income (Loss), Net of Tax | -1,090 | -175 | -178 |
Comprehensive Income | 505 | 2,046 | 1,650 |
Comprehensive income attributable to noncontrolling interests | -57 | -87 | -93 |
Comprehensive Income Attributable to Kimberly-Clark Corporation | $448 | $1,959 | $1,557 |
Consolidated_Balance_Sheet
Consolidated Balance Sheet (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Current Assets | ||
Cash and cash equivalents | $789,000,000 | $1,054,000,000 |
Accounts receivable, net | 2,223,000,000 | 2,545,000,000 |
Inventories | 1,892,000,000 | 2,233,000,000 |
Other current assets | 655,000,000 | 718,000,000 |
Total Current Assets | 5,559,000,000 | 6,550,000,000 |
Property, Plant and Equipment, Net | 7,359,000,000 | 7,948,000,000 |
Investments in Equity Companies | 257,000,000 | 382,000,000 |
Goodwill | 1,628,000,000 | 3,181,000,000 |
Other Intangible Assets, Net | 109,000,000 | 243,000,000 |
Other Assets | 614,000,000 | 615,000,000 |
TOTAL ASSETS | 15,526,000,000 | 18,919,000,000 |
Current Liabilities | ||
Debt payable within one year | 1,326,000,000 | 375,000,000 |
Redeemable preferred securities of subsidiary | 0 | 506,000,000 |
Trade accounts payable | 2,616,000,000 | 2,598,000,000 |
Accrued expenses | 1,974,000,000 | 2,060,000,000 |
Dividends payable | 310,000,000 | 309,000,000 |
Total Current Liabilities | 6,226,000,000 | 5,848,000,000 |
Long-Term Debt | 5,630,000,000 | 5,386,000,000 |
Noncurrent Employee Benefits | 1,693,000,000 | 1,312,000,000 |
Deferred Income Taxes | 587,000,000 | 817,000,000 |
Other Liabilities | 319,000,000 | 344,000,000 |
Redeemable Preferred and Common Securities of Subsidiaries | 72,000,000 | 72,000,000 |
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 428.6 million shares at December 31, 2014 and 2013 | 536,000,000 | 536,000,000 |
Additional paid-in capital | 632,000,000 | 594,000,000 |
Common stock held in treasury, at cost—63.3 million and 47.8 million shares at December 31, 2014 and 2013 | -5,597,000,000 | -3,746,000,000 |
Retained earnings | 8,470,000,000 | 9,714,000,000 |
Accumulated other comprehensive income (loss) | -3,312,000,000 | -2,242,000,000 |
Total Kimberly-Clark Corporation Stockholders' Equity | 729,000,000 | 4,856,000,000 |
Noncontrolling Interests | 270,000,000 | 284,000,000 |
Total Stockholders' Equity | 999,000,000 | 5,140,000,000 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $15,526,000,000 | $18,919,000,000 |
Consolidated_Balance_Sheet_Par
Consolidated Balance Sheet (Parenthetical) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Statement of Financial Position [Abstract] | ||
Preferred stock, par value per share | $0 | $0 |
Preferred stock, shares authorized | 20,000,000 | 20,000,000 |
Preferred stock, shares issued | 0 | 0 |
Common stock, par value per share | $1.25 | $1.25 |
Common stock, shares authorized | 1,200,000,000 | 1,200,000,000 |
Common stock, shares issued | 428,600,000 | 428,600,000 |
Common stock held in treasury, shares | 63,261,000 | 47,798,000 |
Consolidated_Statement_of_Stoc
Consolidated Statement of Stockholders' Equity (USD $) | Total | Common Stock Issued [Member] | Additional Paid-in Capital [Member] | Treasury Stock [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Noncontrolling Interests [Member] | Noncontrolling Interests [Member] |
In Millions, except Share data in Thousands, unless otherwise specified | Dividend Declared [Member] | |||||||
Beginning Balance at Dec. 31, 2011 | $536 | $440 | ($2,105) | $8,244 | ($1,866) | $280 | ||
Beginning Balance, treasury stock (in shares) at Dec. 31, 2011 | 32,937 | |||||||
Beginning Balance (in shares) at Dec. 31, 2011 | 428,597 | |||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income in stockholders' equity | 1,828 | 1,750 | ||||||
Net income in stockholders' equity | 47 | |||||||
Other comprehensive income, net of tax | ||||||||
Unrealized translation | 215 | 195 | 20 | |||||
Employee postretirement benefits | -377 | -372 | -5 | |||||
Other | -16 | -16 | 0 | |||||
Stock-based awards exercised or vested | -78 | 643 | ||||||
Stock-based awards exercised or vested (in shares) | -10,492 | |||||||
Income tax benefits on stock-based compensation | 20 | 43 | ||||||
Shares repurchased (in shares) | 16,877 | |||||||
Shares repurchased | -1,333 | |||||||
Recognition of stock-based compensation | 67 | |||||||
Dividends declared | -1,163 | |||||||
Distributions to noncontrolling interests | 38 | |||||||
Other | 9 | -1 | -8 | -2 | ||||
Ending Balance at Dec. 31, 2012 | 536 | 481 | -2,796 | 8,823 | -2,059 | 302 | ||
Ending Balance, treasury stock (in shares) at Dec. 31, 2012 | 39,322 | |||||||
Ending Balance (in shares) at Dec. 31, 2012 | 428,597 | |||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income in stockholders' equity | 2,221 | 2,142 | ||||||
Net income in stockholders' equity | 48 | |||||||
Other comprehensive income, net of tax | ||||||||
Unrealized translation | -494 | -499 | 5 | |||||
Employee postretirement benefits | 302 | 298 | 4 | |||||
Other | 17 | 18 | -1 | |||||
Stock-based awards exercised or vested | -33 | 264 | ||||||
Stock-based awards exercised or vested (in shares) | -4,108 | |||||||
Income tax benefits on stock-based compensation | 35 | 46 | ||||||
Shares repurchased (in shares) | 12,584 | |||||||
Shares repurchased | -1,214 | |||||||
Recognition of stock-based compensation | 92 | |||||||
Dividends declared | -1,244 | |||||||
Distributions to noncontrolling interests | 39 | |||||||
Other | 8 | 0 | -7 | -35 | ||||
Ending Balance at Dec. 31, 2013 | 5,140 | 536 | 594 | -3,746 | 9,714 | -2,242 | 284 | |
Ending Balance, treasury stock (in shares) at Dec. 31, 2013 | 47,798 | |||||||
Ending Balance (in shares) at Dec. 31, 2013 | 428,597 | |||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income in stockholders' equity | 1,595 | 1,526 | ||||||
Net income in stockholders' equity | 39 | |||||||
Other comprehensive income, net of tax | ||||||||
Unrealized translation | -835 | -819 | -15 | |||||
Employee postretirement benefits | -275 | -278 | 3 | |||||
Other | 20 | 19 | 1 | |||||
Stock-based awards exercised or vested | -54 | 180 | ||||||
Stock-based awards exercised or vested (in shares) | -2,783 | |||||||
Income tax benefits on stock-based compensation | 19 | 32 | ||||||
Shares repurchased (in shares) | 18,246 | |||||||
Shares repurchased | -2,031 | |||||||
Recognition of stock-based compensation | 52 | |||||||
Dividends declared | -1,256 | |||||||
Distributions to noncontrolling interests | 43 | |||||||
Spin-off of health care business | -1,505 | 9 | ||||||
Other | 8 | 0 | -9 | -1 | 1 | |||
Ending Balance at Dec. 31, 2014 | $999 | $536 | $632 | ($5,597) | $8,470 | ($3,312) | $270 | |
Ending Balance, treasury stock (in shares) at Dec. 31, 2014 | 63,261 | |||||||
Ending Balance (in shares) at Dec. 31, 2014 | 428,597 |
Consolidated_Cash_Flow_Stateme
Consolidated Cash Flow Statement (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Operating Activities | |||
Net income | $1,595 | $2,221 | $1,828 |
Depreciation and amortization | 862 | 863 | 857 |
Asset impairments | 42 | 45 | 171 |
Stock-based compensation | 52 | 92 | 67 |
Deferred income taxes | 63 | 151 | 224 |
Net (gains) losses on asset dispositions | 21 | 11 | 35 |
Equity companies' earnings (in excess of) less than dividends paid | 28 | -36 | -27 |
(Increase) decrease in operating working capital | -176 | -158 | 119 |
Postretirement benefits | -102 | -158 | 7 |
Charge for Venezuelan balance sheet remeasurement | 462 | 36 | 0 |
Other | -2 | -27 | 7 |
Cash Provided by Operations | 2,845 | 3,040 | 3,288 |
Investing Activities | |||
Capital spending | -1,039 | -953 | -1,093 |
Acquisitions of businesses | 0 | -32 | -5 |
Proceeds from dispositions of property | 38 | 129 | 9 |
Proceeds from sales of investments | 127 | 26 | 23 |
Investments in time deposits | -151 | -93 | -212 |
Maturities of time deposits | 239 | 94 | 95 |
Other | 16 | -15 | -1 |
Cash Used for Investing | -770 | -844 | -1,184 |
Financing Activities | |||
Cash dividends paid | -1,256 | -1,223 | -1,151 |
Change in short-term borrowings | 721 | -287 | 271 |
Debt proceeds | 1,257 | 890 | 315 |
Debt repayments | -123 | -544 | -492 |
Redemption of redeemable preferred securities of subsidiary | -500 | 0 | 0 |
Cash paid on redeemable preferred securities of subsidiaries | -34 | -27 | -28 |
Proceeds from exercise of stock options | 127 | 232 | 565 |
Acquisitions of common stock for the treasury | -1,939 | -1,216 | -1,284 |
Cash transferred to Halyard Health, Inc. related to spin-off | -120 | 0 | 0 |
Other | -26 | -10 | 2 |
Cash Used for Financing | -1,893 | -2,185 | -1,802 |
Effect of Exchange Rate Changes on Cash and Cash Equivalents | -447 | -63 | 40 |
Increase (Decrease) in Cash and Cash Equivalents | -265 | -52 | 342 |
Cash and Cash Equivalents - Beginning of Year | 1,054 | 1,106 | 764 |
Cash and Cash Equivalents - End of Year | $789 | $1,054 | $1,106 |
Accounting_Policies
Accounting Policies | 12 Months Ended |
Dec. 31, 2014 | |
Accounting Policies [Abstract] | |
Accounting Policies | Accounting Policies |
Basis of Presentation | |
The Consolidated Financial Statements present the accounts of Kimberly-Clark Corporation and all subsidiaries in which it has a controlling financial interest as if they were a single economic entity in conformity with accounting principles generally accepted in the United States of America ("GAAP"). All intercompany transactions and accounts are eliminated in consolidation. The terms "Corporation," "Kimberly-Clark," "we," "our," and "us" refer to Kimberly-Clark Corporation and all subsidiaries in which it has a controlling financial interest. Dollar amounts are reported in millions, except per share dollar amounts, unless otherwise noted. Kimberly-Clark’s prior period Consolidated Income Statements and related disclosures have been recast to present the results of the spun-off health care business (see further discussion below) as discontinued operations. Segment results have also been recast to present net sales and operating profit by segment on a continuing operations basis. | |
On October 31, 2014, we completed the spin-off of our health care business, creating a stand-alone, publicly traded health care company, Halyard Health, Inc. ("Halyard"), by distributing 100 percent of the outstanding shares of Halyard to holders of our common stock. See Note 2 for more information. The spun-off health care business is presented as discontinued operations on the Consolidated Income Statement for all periods presented. The health care business' balance sheet, other comprehensive income and cash flows are included within our Consolidated Balance Sheet, Consolidated Statement of Stockholders' Equity, Consolidated Statement of Comprehensive Income and Consolidated Cash Flow Statement through October 31, 2014. | |
Use of Estimates | |
The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of net sales and expenses during the reporting periods. Actual results could differ from these estimates, and changes in these estimates are recorded when known. Estimates are used in accounting for, among other things, sales incentives and trade promotion allowances, employee postretirement benefits, and deferred income taxes and potential assessments. | |
Cash Equivalents | |
Cash equivalents are short-term investments with an original maturity date of three months or less. | |
Inventories and Distribution Costs | |
Most U.S. inventories are valued at the lower of cost, using the Last-In, First-Out (LIFO) method, or market. The balance of the U.S. inventories and inventories of consolidated operations outside the U.S. are valued at the lower of cost, using either the First-In, First-Out (FIFO) or weighted-average cost methods, or market. Distribution costs are classified as cost of products sold. | |
Property and Depreciation | |
Property, plant and equipment are stated at cost and are depreciated on the straight-line method. Buildings are depreciated over their estimated useful lives, primarily 40 years. Machinery and equipment are depreciated over their estimated useful lives, primarily ranging from 16 to 20 years. Purchases of computer software, including external costs and certain internal costs (including payroll and payroll-related costs of employees) directly associated with developing significant computer software applications for internal use, are capitalized. Computer software costs are amortized on the straight-line method over the estimated useful life of the software, which generally does not exceed 5 years. | |
Estimated useful lives are periodically reviewed and, when warranted, changes are made to them. Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that their carrying amount may not be recoverable. An impairment loss would be indicated when estimated undiscounted future cash flows from the use and eventual disposition of an asset group, which are identifiable and largely independent of the cash flows of other asset groups, are less than the carrying amount of the asset group. Measurement of an impairment loss would be based on the excess of the carrying amount of the asset group over its fair value. Fair value is measured using discounted cash flows or independent appraisals, as appropriate. When property is sold or retired, the cost of the property and the related accumulated depreciation are removed from the Consolidated Balance Sheet and any gain or loss on the transaction is included in income. | |
Goodwill and Other Intangible Assets | |
Goodwill represents costs in excess of fair values assigned to the underlying net assets of acquired businesses. Goodwill is not amortized, but rather is tested for impairment annually and whenever events and circumstances indicate that impairment may have occurred. Impairment testing compares the reporting unit carrying amount of goodwill with its fair value. Fair value is estimated based on discounted cash flows. If the reporting unit carrying amount of goodwill exceeds its fair value, an impairment charge would be recorded. For 2014, we have completed the required annual testing of goodwill for impairment for all reporting units using the first day of the third quarter as the measurement date, and have determined that goodwill is not impaired. | |
Intangible assets with finite lives are amortized over their estimated useful lives and are reviewed for impairment whenever events or changes in circumstances indicate that their carrying amount may not be recoverable. Estimated useful lives range from 2 to 20 years for trademarks, 5 to 15 years for patents and developed technologies, and 5 to 15 years for other intangible assets. An impairment loss would be indicated when estimated undiscounted future cash flows from the use of the asset are less than its carrying amount. An impairment loss would be measured as the difference between the fair value (based on discounted future cash flows) and the carrying amount of the asset. | |
Investments in Equity Companies | |
Investments in companies which we do not control but over which we have the ability to exercise significant influence and that, in general, are at least 20 percent-owned by us, are stated at cost plus equity in undistributed net income. These investments are evaluated for impairment when warranted. An impairment loss would be recorded whenever a decline in value of an equity investment below its carrying amount is determined to be other than temporary. In judging "other than temporary," we would consider the length of time and extent to which the fair value of the equity company investment has been less than the carrying amount, the near-term and longer-term operating and financial prospects of the equity company, and our longer-term intent of retaining the investment in the equity company. | |
Revenue Recognition | |
Sales revenue is recognized at the time of product shipment or delivery, depending on when title passes, to unaffiliated customers, and when all of the following have occurred: a firm sales agreement is in place, pricing is fixed or determinable, and collection is reasonably assured. Sales are reported net of returns, consumer and trade promotions, rebates and freight allowed. Taxes imposed by governmental authorities on our revenue-producing activities with customers, such as sales taxes and value-added taxes, are excluded from net sales. | |
Sales Incentives and Trade Promotion Allowances | |
The cost of promotion activities provided to customers is classified as a reduction in sales revenue. In addition, the estimated redemption value of consumer coupons is recorded at the time the coupons are issued and classified as a reduction in sales revenue. Estimates of trade promotion liabilities for promotional program costs incurred, but unpaid, are generally based on estimates of the quantity of customer sales, timing of promotional activities and forecasted costs for activities within the promotional programs. | |
Advertising Expense | |
Advertising costs are expensed in the year the related advertisement or campaign is first presented by the media. For interim reporting purposes, advertising expenses are charged to operations as a percentage of sales based on estimated sales and related advertising expense for the full year. | |
Research Expense | |
Research and development costs are charged to expense as incurred. | |
Foreign Currency Translation | |
The income statements of foreign operations, other than those in highly inflationary economies, are translated into U.S. dollars at rates of exchange in effect each month. The balance sheets of these operations are translated at period-end exchange rates, and the differences from historical exchange rates are reflected in stockholders' equity as unrealized translation adjustments. | |
The income statements and balance sheets of operations in highly inflationary economies are translated into U.S. dollars using both current and historical rates of exchange. We account for our operations in Venezuela using highly inflationary accounting. On February 13, 2013, the Venezuelan government announced a devaluation of the Central Bank of Venezuela ("Central Bank") regulated currency exchange system rate to 6.3 bolivars per U.S. dollar and the elimination of the SITME rate. As a result of the devaluation, we recorded a $26 after-tax charge ($36 pre-tax) related to the remeasurement of the local currency-denominated balance sheet to the new exchange rate in the quarter ended March 31, 2013. Prior to this devaluation, we used the Central Bank SITME rate of 5.4 bolivars per U.S. dollar to measure K-C Venezuela's bolivar-denominated transactions into U.S. dollars. The $36 pre-tax charge is reflected in the Consolidated Income Statement in other (income) and expense, net for the year ended December 31, 2013. | |
During March 2013, the Venezuelan government announced a complementary currency exchange system, SICAD. Participation in SICAD is controlled by the Venezuelan government. SICAD is intended to function as an auction system, allowing entities in specific sectors to bid for U.S. dollars to be used for specified import transactions. In February 2014, the president of Venezuela announced that another floating rate exchange system (referred to as SICAD II) would be initiated. Initial exchanges under SICAD II began on March 24, 2014. | |
We have historically measured results in Venezuela at the rate in which we transact our business. We have qualified for access to the official exchange rate because we manufacture and sell price-controlled products. Since March 2013, exchange transactions have taken place through letters of credit which resulted in an effective exchange rate of 6.3 bolivars per U.S. dollar and through approved transactions using the regulated currency exchange system, which were also at a 6.3 exchange rate. To date, we have not been invited to participate in SICAD, and we did not seek exchange at SICAD II because we qualify for the more favorable official 6.3 rate and have chosen to pursue exchange at that rate. | |
Through December 31, 2014, we continued to manufacture and sell products in Venezuela as well as import raw materials and finished goods under approved foreign exchange transactions. However, recent government approvals for imports under letters of credit have not been at a level sufficient to sustain all of our manufacturing capabilities in Venezuela. During December 2014, the volume of exchange transactions approved at the 6.3 exchange rate decreased significantly, and we experienced some level of production curtailment during the fourth quarter of 2014. We continued to measure results at the 6.3 rate through December 2014, however, we are uncertain whether approved exchange transactions at the 6.3 exchange rate will recover to previous levels. Given the level of uncertainty and lack of liquidity in Venezuela, in part due to recent declines in the price of oil, we remeasured our local currency-denominated balance sheet as of December 31, 2014 at the year end floating SICAD II exchange rate of 50 bolivars per U.S. dollar as we believe this was the most accessible rate available in the absence of exchange at 6.3 bolivars per U.S. dollar. This remeasurement resulted in a non-deductible charge of $462 in the Consolidated Income Statement for the year ended December 31, 2014, with $41 recorded in cost of products sold and $421 recorded in other (income) and expense, net. | |
At December 31, 2014, K-C Venezuela had a bolivar-denominated net monetary asset position (primarily cash) of $59 and our net investment in K-C Venezuela was $152, both valued at 50 bolivars per U.S. dollar. Net sales of K-C Venezuela represented approximately 3 percent of consolidated net sales for the year ended December 31, 2014 and approximately 2 percent of consolidated net sales for the years ended December 31, 2013 and 2012. | |
While we continue to seek approval for additional imports at the official rate, unless we are able to obtain further approvals for imports through approved letters of credit or through the official government exchange system, we may be forced to curtail some or all of our local manufacturing in the future until such approvals to import additional raw materials are forthcoming. In January 2015, we measured results in Venezuela at the floating SICAD II exchange rate. In mid-February 2015, the government of Venezuela announced changes to their three-tiered currency exchange system. We are evaluating the implications of these changes to assess the impact on our results and reporting for our operations in that country. | |
Derivative Instruments and Hedging | |
Our policies allow the use of derivatives for risk management purposes and prohibit their use for speculation. Our policies also prohibit the use of any leveraged derivative instrument. Consistent with our policies, foreign currency derivative instruments, interest rate swaps and locks, and the majority of commodity hedging contracts are entered into with major financial institutions. At inception we formally designate certain derivatives as cash flow, fair value or net investment hedges and establish how the effectiveness of these hedges will be assessed and measured. This process links the derivatives to the transactions or financial balances they are hedging. Changes in the fair value of derivatives not designated as hedging instruments are recorded in earnings as they occur. All derivative instruments are recorded as assets or liabilities on the balance sheet at fair value. Changes in the fair value of derivatives are either recorded in the income statement or other comprehensive income, as appropriate. The gain or loss on derivatives designated as fair value hedges and the offsetting loss or gain on the hedged item attributable to the hedged risk are included in income in the period that changes in fair value occur. The effective portion of the gain or loss on derivatives designated as cash flow hedges is included in other comprehensive income in the period that changes in fair value occur, and is reclassified to income in the same period that the hedged item affects income. The gain or loss on derivatives designated as hedges of investments in foreign subsidiaries is recognized in other comprehensive income to offset the change in value of the net investments being hedged. Any ineffective portion of cash flow hedges and net investment hedges is immediately recognized in income. Certain foreign-currency derivative instruments not designated as hedging instruments have been entered into to manage a portion of our foreign currency transactional exposures. The gain or loss on these derivatives is included in income in the period that changes in their fair values occur. See Note 15 for disclosures about derivative instruments and hedging activities. | |
New Accounting Standards | |
In May 2014, the Financial Accounting Standards Board issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers, which provides a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and will supersede most current revenue recognition guidance. The standard is effective for public entities for annual and interim periods beginning after December 15, 2016. Early adoption is not permitted. The guidance permits two implementation approaches, one requiring retrospective application of the new standard with restatement of prior years and one requiring prospective application of the new standard with disclosure of results under old standards. The effects of this standard on our financial position, results of operations and cash flows are not yet known. |
Spinoff_of_Health_Care_Busines
Spinoff of Health Care Business and Related Costs (Notes) (Health Care Spin-off [Member]) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Health Care Spin-off [Member] | |||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||||
Spin-Off of Health Care Business and Related Costs [Text Block] | Spin-Off of Health Care Business and Related Costs | ||||||||||||
On October 31, 2014, we completed the spin-off of our health care business, and each of our shareholders of record as of the close of business on October 23, 2014 (the "Record Date") received one share of Halyard common stock for every 8 shares of our common stock held as of the Record Date. The distribution was structured to be tax free to our U.S. shareholders for U.S. federal income tax purposes. After the distribution, we do not beneficially own any shares of Halyard common stock. | |||||||||||||
Summary results of operations for the spun-off health care business included in net income from discontinued operations, net of income taxes, were as follows: | |||||||||||||
Year Ended December 31 | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Net sales | $ | 1,320 | $ | 1,591 | $ | 1,596 | |||||||
Income before income taxes | 130 | 304 | 310 | ||||||||||
Provision for income taxes | (80 | ) | (101 | ) | (109 | ) | |||||||
Net income | 50 | 203 | 201 | ||||||||||
The results of the health care discontinued operations exclude certain corporate costs which were allocated to the health care segment historically and we expect to continue to incur these costs after the spin-off. These include costs related to supply chain, finance, legal, information technology, human resources, compliance, shared services, insurance, employee benefits and incentives, and stock-based compensation. On a pre-tax basis, through the date of the spin-off, these costs were $70 for the ten months ended October 31, 2014, and $85 in each of the years ended December 31, 2013 and 2012. | |||||||||||||
To evaluate, plan and execute the spin-off, we incurred $157 of pre-tax charges ($138 after tax) in transaction and related costs, including the exit of one of Halyard's health care glove manufacturing facilities in Thailand and outsourcing of the related production. These charges and the related tax impact are recorded in Income from discontinued operations, net of income taxes. | |||||||||||||
In connection with the spin-off, we transferred the following assets and liabilities to Halyard: | |||||||||||||
Assets | |||||||||||||
Cash | $ | 120 | |||||||||||
Accounts receivable, net | 37 | ||||||||||||
Inventories | 289 | ||||||||||||
Property, plant and equipment, net | 271 | ||||||||||||
Goodwill | 1,429 | ||||||||||||
Other intangible assets | 114 | ||||||||||||
Other assets | 66 | ||||||||||||
Total Assets | $ | 2,326 | |||||||||||
Liabilities | |||||||||||||
Accrued expenses | $ | 127 | |||||||||||
Debt | 636 | ||||||||||||
Deferred income taxes | 60 | ||||||||||||
Other liabilities | 7 | ||||||||||||
Total Liabilities | $ | 830 | |||||||||||
Net Assets Transferred in the Spin-Off | $ | 1,496 | |||||||||||
In order to implement the spin-off, we entered into certain agreements with Halyard to effect our legal and structural separation; govern the relationship between us; and allocate various assets, liabilities and obligations between us, including, among other things, employee benefits, intellectual property and tax-related assets and liabilities. We also entered into a transition services agreement with Halyard, whereby we will provide certain administrative and other services for a limited time, a tax matters agreement, an employee matters agreement, intellectual property agreements, manufacturing and supply agreements, distribution agreements and non-competition agreements. |
2014_Organization_Restructurin
2014 Organization Restructuring 2014 Organization Restructuring (2014 Organization Restructuring [Member]) | 12 Months Ended | |||
Dec. 31, 2014 | ||||
2014 Organization Restructuring [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
2014 Organization Restructuring | 2014 Organization Restructuring | |||
In October 2014, we initiated a restructuring plan in order to improve organization efficiency and offset the impact of stranded overhead costs resulting from the spin-off of our health care business. The restructuring is intended to improve our underlying profitability and increase our flexibility to invest in targeted growth initiatives, brand building and other capabilities critical to delivering future growth. | ||||
The restructuring is expected to be completed by the end of 2016, with total costs, primarily severance, anticipated to be $130 to $160 after tax ($190 to $230 pre-tax). Cash costs are projected to be approximately 80 percent of the total charges. Workforce reductions are expected to be in the range of 1,100 to 1,300 and primarily impact salaried employees. The restructuring is expected to impact all of our business segments and our organizations in all major geographies. | ||||
Charges in the fourth quarter of 2014 were $133, recorded in the following income statement line items: | ||||
2014 | ||||
Cost of products sold | $ | 40 | ||
Marketing, research and general expenses | 93 | |||
Provision for income taxes | (38 | ) | ||
Net charges | $ | 95 | ||
Cash payments in the fourth quarter of 2014 related to the restructuring were not material. On a geographic basis, $47 of the charges were recorded in North America, $28 in Europe, and $58 in our international operations in Asia, Latin America, the Middle East, Eastern Europe and Africa. |
European_Strategic_Changes
European Strategic Changes (European Strategic Changes [Member]) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
European Strategic Changes [Member] | ||||||||||||
Restructuring Cost and Reserve | ||||||||||||
European Strategic Changes | European Strategic Changes | |||||||||||
In 2012, we approved strategic changes related to our Western and Central European consumer and professional businesses to focus our resources and investments on stronger market positions and growth opportunities. We exited the diaper category in that region, with the exception of the Italian market, and divested or exited some lower-margin businesses, mostly in consumer tissue, in certain markets. The changes primarily affected our consumer businesses, with a modest impact on K-C Professional ("KCP"). The restructuring actions commenced in 2012 and were completed by December 31, 2014. | ||||||||||||
Restructuring actions related to the strategic changes involved the sale or closure of five of our European manufacturing facilities and streamlining our administrative organization. The following charges were incurred in connection with the European strategic changes: | ||||||||||||
Year Ended December 31 | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Asset impairments and other asset-related charges | $ | 2 | $ | 53 | $ | 165 | ||||||
Charges for workforce reductions | (5 | ) | 10 | 77 | ||||||||
Benefit from pension curtailment | — | (31 | ) | — | ||||||||
Other exit costs | 14 | 22 | 8 | |||||||||
Cost of products sold | 11 | 54 | 250 | |||||||||
Charges for workforce reductions and other exit costs included in marketing, research and general expenses and other (income) and expense, net | 22 | 27 | 49 | |||||||||
Provision for income taxes | (3 | ) | (15 | ) | (57 | ) | ||||||
Net charges | $ | 30 | $ | 66 | $ | 242 | ||||||
The measurement of the charges for asset impairments was based on the excess of the carrying value of the impacted asset groups over their fair values. These fair values were measured using discounted cash flows expected over the limited time the assets would remain in use, and as a result, the assets were essentially written off. The use of the discounted cash flows represents a level 3 measure under the fair value hierarchy. | ||||||||||||
Cash payments of $41, $156 and $4 were made during 2014, 2013 and 2012, respectively, related to the restructuring. See Note 18 for charges by segment. |
Pulp_And_Tissue_Restructuring
Pulp And Tissue Restructuring (Pulp And Tissue Restructuring [Member]) | 12 Months Ended |
Dec. 31, 2014 | |
Pulp And Tissue Restructuring [Member] | |
Restructuring Cost and Reserve | |
Pulp and Tissue Restructuring | Pulp and Tissue Restructuring Actions |
In 2011 and 2012, we executed pulp and tissue restructuring actions in order to exit our remaining integrated pulp manufacturing operations and improve the underlying profitability and return on invested capital of our consumer tissue and KCP businesses. These actions involved the streamlining, sale or closure of seven of our manufacturing facilities around the world. In conjunction with these actions, we exited certain non-strategic products, primarily non-branded offerings, and transferred some production to lower-cost facilities in order to improve overall profitability and returns. The actions were substantially complete at December 31, 2012. The restructuring resulted in cumulative pre-tax charges of $550 ($375 after tax). During 2012, charges of $135 were recorded primarily in cost of products sold for the restructuring actions, and a related benefit of $49 was recorded in provision for income taxes. See Note 18 for charges by segment. |
Fair_Value_Information
Fair Value Information | 12 Months Ended | |||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||
Fair Value Disclosures [Abstract] | ||||||||||||||||||
Fair Value Information | Fair Value Information | |||||||||||||||||
The following fair value information is based on a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The three levels in the hierarchy used to measure fair value are: | ||||||||||||||||||
Level 1—Unadjusted quoted prices in active markets accessible at the reporting date for identical assets and liabilities. | ||||||||||||||||||
Level 2—Quoted prices for similar assets or liabilities in active markets. Quoted prices for identical or similar assets and liabilities in markets that are not considered active or financial instruments for which all significant inputs are observable, either directly or indirectly. | ||||||||||||||||||
Level 3—Prices or valuations that require inputs that are significant to the valuation and are unobservable. | ||||||||||||||||||
A financial instrument's level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. | ||||||||||||||||||
During 2014 and 2013, there were no significant transfers among level 1, 2 or 3 fair value determinations. | ||||||||||||||||||
Company-owned life insurance ("COLI") assets and derivative assets and liabilities are measured on a recurring basis at fair value. COLI assets were $58 and $55 at December 31, 2014 and 2013, respectively. The COLI policies are a source of funding primarily for our nonqualified employee benefits and are included in other assets. The fair value of the COLI policies is considered a level 2 measurement and is derived from investments in a mix of money market, fixed income and equity funds managed by unrelated fund managers. At December 31, 2014 and 2013, derivative assets were $54 and $62, respectively, and derivative liabilities were $116 and $49, respectively. The fair values of derivatives used to manage interest rate risk and commodity price risk are based on LIBOR rates and interest rate swap curves and NYMEX price quotations, respectively. The fair value of hedging instruments used to manage foreign currency risk is based on published quotations of spot currency rates and forward points, which are converted into implied forward currency rates. Measurement of our derivative assets and liabilities is considered a level 2 measurement. Additional information on our classification and use of derivative instruments is contained in Note 15. | ||||||||||||||||||
The following table includes the fair value of our financial instruments for which disclosure of fair value is required: | ||||||||||||||||||
Fair Value | Carrying | Estimated | Carrying | Estimated | ||||||||||||||
Hierarchy | Amount | Fair | Amount | Fair | ||||||||||||||
Level | Value | Value | ||||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||||
Assets | ||||||||||||||||||
Cash and cash equivalents(a) | 1 | $ | 789 | $ | 789 | $ | 1,054 | $ | 1,054 | |||||||||
Time deposits(b) | 1 | 130 | 130 | 222 | 222 | |||||||||||||
Liabilities and redeemable securities of subsidiaries | ||||||||||||||||||
Short-term debt(c) | 2 | 777 | 777 | 63 | 63 | |||||||||||||
Long-term debt(d) | 2 | 6,179 | 6,963 | 5,698 | 6,721 | |||||||||||||
Redeemable securities of subsidiaries(e) | 3 | 72 | 72 | 578 | 598 | |||||||||||||
(a) | Cash equivalents are composed of certificates of deposit, time deposits and other interest-bearing investments with original maturity dates of 90 days or less. Cash equivalents are recorded at cost, which approximates fair value. | |||||||||||||||||
(b) | Time deposits are composed of deposits with original maturities of more than 90 days but less than one year and instruments with original maturities of greater than one year, included in other current assets or other assets in the Consolidated Balance Sheet, as appropriate. Time deposits are recorded at cost, which approximates fair value. | |||||||||||||||||
(c) | Short-term debt is composed of U.S. commercial paper and/or other similar short-term debt issued by non-U.S. subsidiaries, all of which are recorded at cost, which approximates fair value. | |||||||||||||||||
(d) | Long-term debt includes the current portion of these debt instruments. Fair values were estimated based on quoted prices for financial instruments for which all significant inputs were observable, either directly or indirectly. | |||||||||||||||||
(e) | The redeemable securities of subsidiaries are not traded in active markets. For certain instruments, fair values were calculated using a floating rate pricing model that compared the stated spread to the fair value spread to determine the price at which each of the financial instruments should trade. The model used the following inputs to calculate fair values: face value, current LIBOR rate, unobservable fair value credit spread, stated spread, maturity date and interest or dividend payment dates. Additionally, the fair value of the remaining redeemable securities was based on various inputs, including an independent third-party appraisal, adjusted for current market conditions. | |||||||||||||||||
Acquisitions_and_Intangible_As
Acquisitions and Intangible Assets | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ||||||||||||||||||||
Acquisitions and Intangible Assets | Acquisitions and Intangible Assets | |||||||||||||||||||
The changes in the carrying amount of goodwill by business segment are as follows: | ||||||||||||||||||||
Personal | Consumer | K-C | Health Care | Total | ||||||||||||||||
Care | Tissue | Professional | Business | |||||||||||||||||
Balance at December 31, 2012 | $ | 764 | $ | 695 | $ | 442 | $ | 1,436 | $ | 3,337 | ||||||||||
Acquisitions | 6 | — | — | 3 | 9 | |||||||||||||||
Currency and other | (86 | ) | (54 | ) | (18 | ) | (7 | ) | (165 | ) | ||||||||||
Balance at December 31, 2013 | 684 | 641 | 424 | 1,432 | 3,181 | |||||||||||||||
Currency and other | (59 | ) | (47 | ) | (15 | ) | (3 | ) | (124 | ) | ||||||||||
Spin-off of health care business | — | — | — | (1,429 | ) | (1,429 | ) | |||||||||||||
Balance at December 31, 2014 | $ | 625 | $ | 594 | $ | 409 | $ | — | $ | 1,628 | ||||||||||
Intangible assets subject to amortization consist of the following at December 31: | ||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||
Gross | Accumulated | Gross | Accumulated | |||||||||||||||||
Carrying | Amortization | Carrying | Amortization | |||||||||||||||||
Amount | Amount | |||||||||||||||||||
Trademarks | $ | 117 | $ | 79 | $ | 252 | $ | 163 | ||||||||||||
Patents and developed technologies | 49 | 9 | 201 | 85 | ||||||||||||||||
Other | 64 | 33 | 93 | 62 | ||||||||||||||||
Total | $ | 230 | $ | 121 | $ | 546 | $ | 310 | ||||||||||||
Debt
Debt | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Debt Disclosure [Abstract] | ||||||||||||
Debt | Debt | |||||||||||
Long-term debt is composed of the following: | ||||||||||||
Weighted- | Maturities | December 31 | ||||||||||
Average | ||||||||||||
Interest | ||||||||||||
Rate | 2014 | 2013 | ||||||||||
Notes and debentures | 4.70% | 2015 - 2043 | $ | 5,656 | $ | 5,163 | ||||||
Dealer remarketable securities | 4.30% | 2015 - 2016 | 200 | 200 | ||||||||
Industrial development revenue bonds | 0.20% | 2015 - 2034 | 261 | 261 | ||||||||
Bank loans and other financings in various currencies | 5.80% | 2015 - 2025 | 62 | 74 | ||||||||
Total long-term debt | 6,179 | 5,698 | ||||||||||
Less current portion | 549 | 312 | ||||||||||
Long-term portion | $ | 5,630 | $ | 5,386 | ||||||||
Scheduled maturities of long-term debt for the next five years are $549 in 2015, $607 in 2016, $963 in 2017, $905 in 2018 and $311 in 2019. | ||||||||||||
On October 17, 2014, we issued debt of $640 aggregate principal amount that was transferred to Halyard as part of the spin-off. | ||||||||||||
On May 22, 2014, we issued $300 aggregate principal amount of floating rate notes due May 19, 2016 and $300 aggregate principal amount of 1.9% notes due May 22, 2019. Proceeds from the offering were used for general corporate purposes and repurchases of common stock. | ||||||||||||
In 2013, we issued $250 aggregate principal amount of floating rate notes due May 15, 2016, $350 aggregate principal amount of 2.4% notes due June 1, 2023, and $250 aggregate principal amount of 3.7% notes due June 1, 2043. Proceeds from the offering were used to repay our $500 aggregate principal amount of 5.0% notes due August 15, 2013, to fund investment in our business and for general corporate purposes. | ||||||||||||
In 2012, we issued $300 aggregate principal amount of 2.4% notes due March 1, 2022. Proceeds from the offering were used for general corporate purposes and repayment of debt. | ||||||||||||
In 2006, we issued $200 of dealer remarketable securities that have a final maturity in 2016. The remarketing provisions of these debt instruments require that each year the securities either be remarketed by the dealer or repaid. In both 2014 and 2013, the dealer exercised its option to remarket the securities for another year, and remarketed the securities to third parties. | ||||||||||||
In June 2014, we entered into a $2.0 billion revolving credit facility which expires in 2019. This facility, currently unused, replaced a similar facility for $1.5 billion, supports our commercial paper program, and would provide liquidity in the event our access to the commercial paper markets is unavailable for any reason. |
Redeemable_Preferred_and_Commo
Redeemable Preferred and Common Securities of Subsidiaries | 12 Months Ended |
Dec. 31, 2014 | |
Temporary Equity Disclosure [Abstract] | |
Redeemable Securities of Subsidiaries | Redeemable Securities of Subsidiaries |
In February 2001, we, together with a non-affiliated third party entity, (the "Third Party"), formed a Luxembourg-based financing subsidiary. Prior to December 2014, the Third Party had an investment in certain redeemable preferred securities of the subsidiary. Kimberly-Clark holds investments in certain preferred securities and all of the common securities of the subsidiary. Approximately 98 percent of the total cash contributed to the subsidiary was loaned to Kimberly-Clark. We are the primary beneficiary of the subsidiary and, accordingly, consolidated the subsidiary in our Consolidated Financial Statements. | |
In December 2013, the subsidiary elected to redeem the preferred securities held by the Third Party in December 2014, and as a result, the $500 redemption value of the subsidiary’s preferred securities held by the Third Party was included in current liabilities as of December 31, 2013 in our Consolidated Balance Sheet. These preferred securities were redeemed in December 2014, and accordingly, the subsidiary became wholly-owned by Kimberly-Clark. | |
The preferred and common securities of the subsidiary held by Kimberly-Clark and the intercompany loans have been eliminated in our Consolidated Financial Statements. The return on the preferred securities previously held by the Third Party was $26, $27 and $27 in 2014, 2013 and 2012, respectively, which is included in net income attributable to noncontrolling interests in our Consolidated Income Statement. | |
In addition, our subsidiary in Central America has outstanding redeemable securities that are held by a noncontrolling interest, which were exchanged from common to preferred securities in December 2014, and another noncontrolling interest holds certain redeemable preferred securities issued by one of our subsidiaries in North America. |
StockBased_Compensation
Stock-Based Compensation | 12 Months Ended | |||||||||||||
Dec. 31, 2014 | ||||||||||||||
Share-based Compensation [Abstract] | ||||||||||||||
Stock-Based Compensation | Stock-Based Compensation | |||||||||||||
We have a stock-based Equity Participation Plan and an Outside Directors' Compensation Plan (the "Plans"), under which we can grant stock options, restricted shares and restricted share units to employees and outside directors. As of December 31, 2014, the number of shares of common stock available for grants under the Plans aggregated 22 million shares. | ||||||||||||||
Stock options are granted at an exercise price equal to the fair market value of our common stock on the date of grant, and they have a term of 10 years. Stock options are subject to graded vesting whereby options vest 30 percent at the end of each of the first two 12-month periods following the grant and 40 percent at the end of the third 12-month period. | ||||||||||||||
Restricted shares, time-vested restricted share units and performance-based restricted share units granted to employees are valued at the closing market price of our common stock on the grant date and vest generally at the end of three years. The number of performance-based share units that ultimately vest ranges from zero to 200 percent of the number granted, based on performance tied to return on invested capital ("ROIC") and net sales during the three-year performance period. ROIC and net sales targets are set at the beginning of the performance period. Restricted share units granted to outside directors are valued at the closing market price of our common stock on the grant date and vest when they are granted. The restricted period begins on the date of grant and expires on the date the outside director retires from or otherwise terminates service on our Board. | ||||||||||||||
At the time stock options are exercised or restricted shares and restricted share units become payable, common stock is issued from our accumulated treasury shares. Dividend equivalents are credited on restricted share units on the same date and at the same rate as dividends are paid on Kimberly-Clark's common stock. These dividend equivalents, net of estimated forfeitures, are charged to retained earnings. | ||||||||||||||
In connection with the spin-off of our health care business, under the provisions of our existing Plans, employee stock options, time-vested restricted share units and performance-based restricted share units were adjusted as follows: | ||||||||||||||
• | The number of stock options was increased and the exercise price was decreased to maintain the fair value of outstanding options immediately before and after the spin-off. | |||||||||||||
• | The time-vested restricted share units and performance-based restricted share units were credited with a reinvested dividend equivalent equal to the value of the spin-off stock dividend to maintain the value of these awards immediately before and after the spin-off. | |||||||||||||
As a result, we did not record any incremental compensation expenses related to the conversion of these awards. These awards continue to vest over the original vesting period. | ||||||||||||||
Stock-based compensation costs of $52, $92 and $67 and related deferred income tax benefits of $19, $35 and $20 were recognized for 2014, 2013 and 2012, respectively. | ||||||||||||||
The fair value of stock option awards was determined using a Black-Scholes-Merton option-pricing model utilizing a range of assumptions related to dividend yield, volatility, risk-free interest rate, and employee exercise behavior. Dividend yield is based on historical experience and expected future dividend actions. Expected volatility is based on a blend of historical volatility and implied volatility from traded options on Kimberly-Clark's common stock. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant. We estimate forfeitures based on historical data. | ||||||||||||||
The weighted-average fair value of options granted was estimated at $7.89, $7.15 and $3.25, in 2014, 2013 and 2012, respectively, per option on the date of grant based on the following assumptions: | ||||||||||||||
Year Ended December 31 | ||||||||||||||
2014 | 2013 | 2012 | ||||||||||||
Dividend yield | 3.5 | % | 3.7 | % | 4.5 | % | ||||||||
Volatility | 13.41 | % | 15.4 | % | 12.86 | % | ||||||||
Risk-free interest rate | 1.73 | % | 0.87 | % | 1.08 | % | ||||||||
Expected life—years | 5 | 5.1 | 5.8 | |||||||||||
Total remaining unrecognized compensation costs and amortization period are as follows: | ||||||||||||||
December 31, 2014 | Weighted- | |||||||||||||
Average | ||||||||||||||
Service | ||||||||||||||
Years | ||||||||||||||
Nonvested stock options | $ | 8 | 1 | |||||||||||
Restricted shares and time-vested restricted share units | 5 | 0.5 | ||||||||||||
Nonvested performance-based restricted share units | 44 | 1.2 | ||||||||||||
Excess tax benefits, resulting from tax deductions in excess of the compensation cost recognized, aggregating $37, $50 and $50 were classified as other cash inflows under Financing Activities in the Consolidated Cash Flow Statement for the years ended December 31, 2014, 2013 and 2012, respectively. | ||||||||||||||
A summary of stock-based compensation is presented below: | ||||||||||||||
Stock Options | Shares | Weighted- | Weighted- | Aggregate | ||||||||||
(in thousands) | Average | Average | Intrinsic | |||||||||||
Exercise | Remaining | Value | ||||||||||||
Price | Contractual | |||||||||||||
Term | ||||||||||||||
Outstanding at January 1, 2014 | 7,223 | $ | 75.77 | |||||||||||
Granted | 1,798 | 112.26 | ||||||||||||
Exercised | (1,860 | ) | 68.02 | |||||||||||
Forfeited or expired | (506 | ) | 97.57 | |||||||||||
Conversion for spin-off of health care business | 306 | 82.26 | ||||||||||||
Outstanding at December 31, 2014 | 6,961 | 82.32 | 6.51 | $ | 231 | |||||||||
Exercisable at December 31, 2014 | 3,846 | 68.26 | 4.76 | $ | 182 | |||||||||
The total intrinsic value of options exercised during the years ended December 31, 2014, 2013 and 2012 was $79, $138 and $161, respectively. | ||||||||||||||
Time-Vested | Performance-Based | |||||||||||||
Restricted Share | Restricted Share | |||||||||||||
Units | Units | |||||||||||||
Other Stock-Based Awards | Shares | Weighted- | Shares | Weighted- | ||||||||||
(in thousands) | Average | (in thousands) | Average | |||||||||||
Grant-Date | Grant-Date | |||||||||||||
Fair Value | Fair Value | |||||||||||||
Nonvested at January 1, 2014 | 257 | $ | 81.38 | 2,083 | $ | 79.98 | ||||||||
Granted | 73 | 100.95 | 842 | 111.77 | ||||||||||
Vested | (70 | ) | 81.97 | (894 | ) | 65.02 | ||||||||
Forfeited | (38 | ) | 84.01 | (301 | ) | 94.73 | ||||||||
Dividend equivalent for spin-off of health care business | 22 | 78.04 | 79 | 95.8 | ||||||||||
Nonvested at December 31, 2014 | 244 | 86.34 | 1,809 | 96.35 | ||||||||||
The total fair value of restricted share units that were distributed to participants during 2014, 2013 and 2012 was $102, $45 and $101, respectively. |
Employee_Postretirement_Benefi
Employee Postretirement Benefits | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract] | ||||||||||||||||||||||||
Employee Postretirement Benefits | Employee Postretirement Benefits | |||||||||||||||||||||||
Substantially all regular employees in North America and the United Kingdom are covered by defined benefit pension plans (the "Principal Plans") and/or defined contribution retirement plans. Certain other subsidiaries have defined benefit pension plans or, in certain countries, termination pay plans covering substantially all regular employees. The funding policy for our qualified defined benefit pension plans is to contribute assets at least equal in amount to regulatory minimum requirements. Nonqualified U.S. plans providing pension benefits in excess of limitations imposed by the U.S. income tax code are not funded. | ||||||||||||||||||||||||
Substantially all U.S. retirees and employees have access to our unfunded healthcare and life insurance benefit plans. The annual increase in the consolidated weighted-average healthcare cost trend rate is expected to be 6.3 percent in 2015 and to decline to 5.1 percent in 2023 and thereafter. Assumed healthcare cost trend rates affect the amounts reported for postretirement healthcare benefit plans. A one-percentage-point change in assumed healthcare trend rates would not have a significant effect on our financial results. | ||||||||||||||||||||||||
Summarized financial information about postretirement plans, excluding defined contribution retirement plans, is presented below: | ||||||||||||||||||||||||
Pension Benefits | Other Benefits | |||||||||||||||||||||||
Year Ended December 31 | ||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
Change in Benefit Obligation | ||||||||||||||||||||||||
Benefit obligation at beginning of year | $ | 6,164 | $ | 6,590 | $ | 761 | $ | 824 | ||||||||||||||||
Service cost | 46 | 53 | 13 | 17 | ||||||||||||||||||||
Interest cost | 279 | 257 | 35 | 32 | ||||||||||||||||||||
Actuarial loss (gain) | 986 | (422 | ) | 39 | (60 | ) | ||||||||||||||||||
Currency and other | (207 | ) | 47 | (4 | ) | — | ||||||||||||||||||
Benefit payments from plans | (356 | ) | (343 | ) | — | — | ||||||||||||||||||
Direct benefit payments | (10 | ) | (13 | ) | (56 | ) | (52 | ) | ||||||||||||||||
Curtailments and settlements | (42 | ) | (5 | ) | — | — | ||||||||||||||||||
Benefit obligation at end of year | 6,860 | 6,164 | 788 | 761 | ||||||||||||||||||||
Change in Plan Assets | ||||||||||||||||||||||||
Fair value of plan assets at beginning of year | 5,567 | 5,375 | — | — | ||||||||||||||||||||
Actual return on plan assets | 694 | 268 | — | — | ||||||||||||||||||||
Employer contributions | 185 | 220 | — | — | ||||||||||||||||||||
Currency and other | (142 | ) | 47 | — | — | |||||||||||||||||||
Benefit payments | (356 | ) | (343 | ) | — | — | ||||||||||||||||||
Settlements | (34 | ) | — | — | — | |||||||||||||||||||
Fair value of plan assets at end of year | 5,914 | 5,567 | — | — | ||||||||||||||||||||
Funded Status | $ | (946 | ) | $ | (597 | ) | $ | (788 | ) | $ | (761 | ) | ||||||||||||
Amounts Recognized in the Balance Sheet | ||||||||||||||||||||||||
Noncurrent asset—prepaid benefit cost | $ | 6 | $ | 9 | $ | — | $ | — | ||||||||||||||||
Current liability—accrued benefit cost | (13 | ) | (12 | ) | (51 | ) | (56 | ) | ||||||||||||||||
Noncurrent liability—accrued benefit cost | (939 | ) | (594 | ) | (737 | ) | (705 | ) | ||||||||||||||||
Net amount recognized | $ | (946 | ) | $ | (597 | ) | $ | (788 | ) | $ | (761 | ) | ||||||||||||
Information for the Principal Plans and All Other Pension Plans | ||||||||||||||||||||||||
Principal Plans | All Other | Total | ||||||||||||||||||||||
Pension Plans | ||||||||||||||||||||||||
Year Ended December 31 | ||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
Projected benefit obligation (“PBO”) | $ | 6,312 | $ | 5,640 | $ | 548 | $ | 524 | $ | 6,860 | $ | 6,164 | ||||||||||||
Accumulated benefit obligation (“ABO”) | 6,221 | 5,555 | 475 | 439 | 6,696 | 5,994 | ||||||||||||||||||
Fair value of plan assets | 5,559 | 5,205 | 355 | 362 | 5,914 | 5,567 | ||||||||||||||||||
The PBO and fair value of plan assets for the Principal Plans include $4,432 and $3,757, respectively, related to the U.S. qualified and nonqualified pension plans as of December 31, 2014. The PBO and fair value of plan assets for the Principal Plans include $3,866 and $3,565, respectively, related to the U.S. qualified and nonqualified pension plans as of December 31, 2013. | ||||||||||||||||||||||||
Information for Pension Plans with an ABO in Excess of Plan Assets | ||||||||||||||||||||||||
December 31 | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
PBO | $ | 4,983 | $ | 5,722 | ||||||||||||||||||||
ABO | 4,908 | 5,622 | ||||||||||||||||||||||
Fair value of plan assets | 4,111 | 5,163 | ||||||||||||||||||||||
Components of Net Periodic Benefit Cost | ||||||||||||||||||||||||
Pension Benefits | Other Benefits | |||||||||||||||||||||||
Year Ended December 31 | ||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | |||||||||||||||||||
Service cost | $ | 46 | $ | 53 | $ | 45 | $ | 13 | $ | 17 | $ | 15 | ||||||||||||
Interest cost | 279 | 257 | 279 | 35 | 32 | 36 | ||||||||||||||||||
Expected return on plan assets(a) | (332 | ) | (331 | ) | (329 | ) | — | — | — | |||||||||||||||
Recognized net actuarial loss | 100 | 120 | 111 | — | 3 | 1 | ||||||||||||||||||
Curtailments and settlements | 20 | (31 | ) | 20 | — | — | — | |||||||||||||||||
Other | (3 | ) | 1 | (4 | ) | (1 | ) | (2 | ) | (1 | ) | |||||||||||||
Net periodic benefit cost | $ | 110 | $ | 69 | $ | 122 | $ | 47 | $ | 50 | $ | 51 | ||||||||||||
(a) | The expected return on plan assets is determined by multiplying the fair value of plan assets at the remeasurement date, typically the prior year-end adjusted for estimated current year cash benefit payments and contributions, by the expected long-term rate of return. | |||||||||||||||||||||||
Weighted-Average Assumptions Used to Determine Net Cost for Years Ended December 31 | ||||||||||||||||||||||||
Pension Benefits | Other Benefits | |||||||||||||||||||||||
Projected 2015 | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||
Discount rate | 3.83 | % | 4.66 | % | 4.04 | % | 4.87 | % | 4.97 | % | 3.97 | % | 4.7 | % | ||||||||||
Expected long-term return on plan assets | 5.21 | % | 5.98 | % | 6.26 | % | 6.49 | % | — | — | — | |||||||||||||
Rate of compensation increase | 2.63 | % | 2.67 | % | 2.73 | % | 2.91 | % | — | — | — | |||||||||||||
Weighted-Average Assumptions Used to Determine Benefit Obligations at December 31 | ||||||||||||||||||||||||
Pension Benefits | Other Benefits | |||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
Discount rate | 3.83 | % | 4.66 | % | 4.28 | % | 4.97 | % | ||||||||||||||||
Rate of compensation increase | 2.63 | % | 2.67 | % | — | — | ||||||||||||||||||
Investment Strategies for the Principal Plans | ||||||||||||||||||||||||
Strategic asset allocation decisions are made considering several risk factors, including plan participants' retirement benefit security, the estimated payments of the associated liabilities, the plan funded status, and Kimberly-Clark's financial condition. The resulting strategic asset allocation is a diversified blend of equity and fixed income investments. Equity investments are typically diversified across geographies and market capitalization. Fixed income investments are diversified across multiple sectors including government issues and corporate debt instruments with a portfolio duration that is consistent with the estimated payment of the associated liability. Actual asset allocation is regularly reviewed and periodically rebalanced to the strategic allocation when considered appropriate. Our 2015 target plan asset allocation for the Principal Plans is 75 percent fixed income securities and 25 percent equity securities. | ||||||||||||||||||||||||
The expected long-term rate of return is evaluated on an annual basis. In setting this assumption, we consider a number of factors including projected future returns by asset class relative to the current asset allocation. The weighted-average expected long-term rate of return on pension fund assets used to calculate pension expense for the Principal Plans was 6.16 percent in 2014 compared with 6.43 percent in 2013 and will be 5.35 percent in 2015. | ||||||||||||||||||||||||
Set forth below are the pension plan assets of the Principal Plans measured at fair value, by level in the fair-value hierarchy: | ||||||||||||||||||||||||
Fair Value Measurements at December 31, 2014 | ||||||||||||||||||||||||
Total | Quoted Prices | Significant | Significant Unobservable Inputs (Level 3) | |||||||||||||||||||||
in Active | Observable | |||||||||||||||||||||||
Markets for | Inputs | |||||||||||||||||||||||
Identical Assets | (Level 2) | |||||||||||||||||||||||
(Level 1) | ||||||||||||||||||||||||
Cash and Cash Equivalents | ||||||||||||||||||||||||
Held directly | $ | 28 | $ | 28 | $ | — | $ | — | ||||||||||||||||
Held through mutual and pooled funds | 175 | 9 | 166 | — | ||||||||||||||||||||
Fixed Income | ||||||||||||||||||||||||
Held directly | ||||||||||||||||||||||||
U.S. government and municipals | 252 | 71 | 181 | — | ||||||||||||||||||||
U.S. corporate debt | 2,167 | — | 2,167 | — | ||||||||||||||||||||
U.S. securitized fixed income | 6 | — | 6 | — | ||||||||||||||||||||
Held through mutual and pooled funds | ||||||||||||||||||||||||
U.S. corporate debt | 149 | — | 149 | — | ||||||||||||||||||||
International bonds | 1,438 | — | 1,438 | — | ||||||||||||||||||||
Multi-sector | 1 | 1 | — | — | ||||||||||||||||||||
Equity | ||||||||||||||||||||||||
Held directly | ||||||||||||||||||||||||
U.S. equity | 18 | 18 | — | — | ||||||||||||||||||||
Held through mutual and pooled funds | ||||||||||||||||||||||||
U.S. equity | 4 | 4 | — | — | ||||||||||||||||||||
Non-U.S. equity | 106 | 1 | 105 | — | ||||||||||||||||||||
Global equity | 1,186 | — | 1,186 | — | ||||||||||||||||||||
Other | 29 | 29 | — | — | ||||||||||||||||||||
Total Plan Assets | $ | 5,559 | $ | 161 | $ | 5,398 | $ | — | ||||||||||||||||
For the U.S. pension plan, equity option strategies are used when appropriate to reduce the volatility of returns on equity investments. As of December 31, 2014, the U.S. pension plan had equity options in place with a total notional value of approximately $950, and the fair value of the aggregate options was an asset position of $29. In addition, Treasury futures contracts are used when appropriate to manage duration targets, and equity futures contracts are used to manage the plan’s investment allocation. As of December 31, 2014, the U.S. plan had Treasury futures contracts in place with a total notional value of approximately $510 and an insignificant fair value. There were no equity futures contracts in place at December 31, 2014. The U.S. plan had Treasury and equity futures contracts with a total notional value of approximately $320 at December 31, 2013 with an insignificant fair value. | ||||||||||||||||||||||||
Fair Value Measurements at December 31, 2013 | ||||||||||||||||||||||||
Total | Quoted Prices | Significant | Significant Unobservable Inputs (Level 3) | |||||||||||||||||||||
in Active | Observable | |||||||||||||||||||||||
Markets for | Inputs | |||||||||||||||||||||||
Identical Assets | (Level 2) | |||||||||||||||||||||||
(Level 1) | ||||||||||||||||||||||||
Cash and Cash Equivalents | ||||||||||||||||||||||||
Held directly | $ | 33 | $ | 33 | $ | — | $ | — | ||||||||||||||||
Held through mutual and pooled funds | 173 | 34 | 139 | — | ||||||||||||||||||||
Fixed Income | ||||||||||||||||||||||||
Held directly | ||||||||||||||||||||||||
U.S. government and municipals | 211 | 71 | 140 | — | ||||||||||||||||||||
U.S. corporate debt | 1,654 | — | 1,654 | — | ||||||||||||||||||||
U.S. securitized fixed income | 8 | — | 8 | — | ||||||||||||||||||||
Held through mutual and pooled funds | ||||||||||||||||||||||||
U.S. corporate debt | 186 | — | 186 | — | ||||||||||||||||||||
International bonds | 1,089 | — | 1,089 | — | ||||||||||||||||||||
Multi-sector | 2 | 2 | — | — | ||||||||||||||||||||
Equity | ||||||||||||||||||||||||
Held directly | ||||||||||||||||||||||||
U.S. equity | 1 | 1 | — | — | ||||||||||||||||||||
Held through mutual and pooled funds | ||||||||||||||||||||||||
U.S. equity | 4 | 4 | — | — | ||||||||||||||||||||
Non-U.S. equity | 123 | 1 | 122 | — | ||||||||||||||||||||
Global equity | 1,691 | — | 1,691 | — | ||||||||||||||||||||
Other | 30 | — | — | 30 | ||||||||||||||||||||
Total Plan Assets | $ | 5,205 | $ | 146 | $ | 5,029 | $ | 30 | ||||||||||||||||
During 2014 and 2013, the plan assets did not include a significant amount of Kimberly-Clark common stock. | ||||||||||||||||||||||||
Inputs and valuation techniques used to measure the fair value of plan assets vary according to the type of security being valued. Substantially all of the equity securities held directly by the plans are actively traded and fair values are determined based on quoted market prices. Fair values of U.S. Treasury securities are determined based on trading activity in the marketplace. | ||||||||||||||||||||||||
Fair values of U.S. corporate debt, U.S. securitized fixed income and international bonds are typically determined by reference to the values of similar securities traded in the marketplace and current interest rate levels. Multiple pricing services are typically employed to assist in determining these valuations. | ||||||||||||||||||||||||
Fair values of equity securities and fixed income securities held through units of pooled funds are based on net asset value of the units of the pooled fund determined by the fund manager. Pooled funds are similar in nature to retail mutual funds, but are typically more efficient for institutional investors. The fair value of pooled funds is determined by the value of the underlying assets held by the fund and the units outstanding. The value of the pooled fund is not directly observable, but is based on observable inputs. | ||||||||||||||||||||||||
Equity securities held directly by the pension trusts and those held through units in pooled funds are monitored as to issuer and industry. Except for U.S. Treasuries, concentrations of fixed income securities are similarly monitored for concentrations by issuer and industry. As of December 31, 2014, there were no significant concentrations of equity or debt securities in any single issuer or industry. | ||||||||||||||||||||||||
The fair value of other plan assets was determined based on an evaluation of various factors. No other level 3 transfers (in or out) were made in 2014 and 2013. | ||||||||||||||||||||||||
We expect to contribute up to $100 to our defined benefit pension plans in 2015. Over the next ten years, we expect that the following gross benefit payments will occur: | ||||||||||||||||||||||||
Pension Benefits | Other Benefits | |||||||||||||||||||||||
2015 | $ | 430 | $ | 52 | ||||||||||||||||||||
2016 | 432 | 53 | ||||||||||||||||||||||
2017 | 438 | 55 | ||||||||||||||||||||||
2018 | 440 | 57 | ||||||||||||||||||||||
2019 | 439 | 58 | ||||||||||||||||||||||
2020-2024 | 2,181 | 309 | ||||||||||||||||||||||
Defined Contribution Pension Plans | ||||||||||||||||||||||||
Our 401(k) profit sharing plan and supplemental plan provide for a matching contribution of a U.S. employee's contributions and accruals, subject to predetermined limits, as well as a discretionary profit sharing contribution, in which contributions will be based on our profit performance. We also have defined contribution pension plans for certain employees outside the U.S. | ||||||||||||||||||||||||
Costs charged to expense for our defined contribution pension plans were as follows: | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
U.S. | $ | 87 | $ | 90 | $ | 82 | ||||||||||||||||||
Outside the U.S. | 34 | 27 | 26 | |||||||||||||||||||||
Total | $ | 121 | $ | 117 | $ | 108 | ||||||||||||||||||
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Income | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Equity [Abstract] | |||||||||||||||||
Stockholders' Equity | Accumulated Other Comprehensive Income | ||||||||||||||||
The changes in the components of AOCI attributable to Kimberly-Clark, net of tax, are as follows: | |||||||||||||||||
Unrealized Translation | Defined Benefit Pension Plans | Other Postretirement Benefit Plans | Cash Flow Hedges and Other | ||||||||||||||
Balance as of December 31, 2012 | $ | (26 | ) | $ | (1,928 | ) | $ | (53 | ) | $ | (52 | ) | |||||
Other comprehensive income (loss) before reclassifications | (499 | ) | 218 | 36 | 24 | ||||||||||||
(Income) loss reclassified from AOCI | — | 42 | (a) | 2 | (a) | (6 | ) | ||||||||||
Net current period other comprehensive income (loss) | (499 | ) | 260 | 38 | 18 | ||||||||||||
Balance as of December 31, 2013 | (525 | ) | (1,668 | ) | (15 | ) | (34 | ) | |||||||||
Other comprehensive income (loss) before reclassifications | (819 | ) | (313 | ) | (23 | ) | 29 | ||||||||||
(Income) loss reclassified from AOCI | — | 57 | (a) | 1 | (a) | (11 | ) | ||||||||||
Net current period other comprehensive income (loss) | (819 | ) | (256 | ) | (22 | ) | 18 | ||||||||||
Spin-off of health care business | 9 | — | — | — | |||||||||||||
Balance as of December 31, 2014 | $ | (1,335 | ) | $ | (1,924 | ) | $ | (37 | ) | $ | (16 | ) | |||||
(a) | Included in computation of net periodic pension and postretirement benefits costs (see Note 11) | ||||||||||||||||
Included in the defined benefit pension plans and other postretirement benefit plans balances as of December 31, 2014 is $2,016 and $54 of unrecognized net actuarial loss and unrecognized net prior service credit, respectively, of which $116 and $10 pre-tax, respectively, are expected to be recognized as a component of net periodic benefit cost in 2015. | |||||||||||||||||
The changes in the components of AOCI attributable to Kimberly-Clark, including the tax effect, are as follows: | |||||||||||||||||
Year Ended December 31 | |||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||
Unrealized translation | $ | (826 | ) | $ | (495 | ) | $ | 204 | |||||||||
Tax effect | 7 | (4 | ) | (9 | ) | ||||||||||||
(819 | ) | (499 | ) | 195 | |||||||||||||
Defined benefit pension plans | |||||||||||||||||
Unrecognized net actuarial loss and transition amount | |||||||||||||||||
Funded status recognition | (624 | ) | 356 | (588 | ) | ||||||||||||
Amortization included in net periodic benefit cost | 100 | 120 | 90 | ||||||||||||||
Currency and other | 69 | (8 | ) | (20 | ) | ||||||||||||
(455 | ) | 468 | (518 | ) | |||||||||||||
Unrecognized prior service cost/credit | |||||||||||||||||
Funded status recognition | 42 | — | — | ||||||||||||||
Amortization included in net periodic benefit cost | (7 | ) | (31 | ) | — | ||||||||||||
Currency and other | (3 | ) | (1 | ) | 3 | ||||||||||||
32 | (32 | ) | 3 | ||||||||||||||
Tax effect | 167 | (176 | ) | 165 | |||||||||||||
(256 | ) | 260 | (350 | ) | |||||||||||||
Other postretirement benefit plans | |||||||||||||||||
Unrecognized net actuarial loss and transition amount | (36 | ) | 65 | (32 | ) | ||||||||||||
Unrecognized prior service cost/credit | — | (3 | ) | (2 | ) | ||||||||||||
Tax effect | 14 | (24 | ) | 12 | |||||||||||||
(22 | ) | 38 | (22 | ) | |||||||||||||
Cash flow hedges and other | |||||||||||||||||
Recognition of effective portion of hedges | 18 | 37 | (20 | ) | |||||||||||||
Amortization included in net income | (5 | ) | (10 | ) | — | ||||||||||||
Currency and other | 2 | 4 | (1 | ) | |||||||||||||
15 | 31 | (21 | ) | ||||||||||||||
Tax effect | 3 | (13 | ) | 5 | |||||||||||||
18 | 18 | (16 | ) | ||||||||||||||
Spin-off of health care business | 9 | — | — | ||||||||||||||
Change in AOCI | $ | (1,070 | ) | $ | (183 | ) | $ | (193 | ) | ||||||||
Amounts are reclassified from AOCI into cost of products sold, marketing, research and general expenses, 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 2014 is primarily due to the strengthening of the U.S. dollar versus the Australian dollar, Colombian peso, Russian ruble, euro, Brazilian real and British pound sterling, as well as most other foreign currencies. 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. |
Leases_and_Commitments
Leases and Commitments | 12 Months Ended | |||
Dec. 31, 2014 | ||||
Leases and Commitments | ||||
Leases and Commitments | Leases and Commitments | |||
We have entered into operating leases for certain warehouse facilities, automobiles and equipment. The future minimum obligations under operating leases having a noncancelable term in excess of one year are as follows: | ||||
Year Ending December 31 | ||||
2015 | $ | 151 | ||
2016 | 117 | |||
2017 | 94 | |||
2018 | 70 | |||
2019 | 56 | |||
Thereafter | 99 | |||
Future minimum obligations | $ | 587 | ||
Consolidated rental expense under operating leases was $303, $316 and $303 in 2014, 2013 and 2012, respectively. | ||||
We have entered into long-term contracts for the purchase of superabsorbent materials, pulp and certain utilities. Commitments under these contracts based on current prices are $297 in 2015, $187 in 2016, $165 in 2017, $141 in 2018 and $147 in 2019. Total commitments beyond the year 2019 are $163. | ||||
Although we are primarily liable for payments on the above-mentioned leases and purchase commitments, our exposure to losses, if any, under these arrangements is not material. |
Legal_Matters
Legal Matters | 12 Months Ended |
Dec. 31, 2014 | |
Legal Matters | |
Legal Matters | Legal Matters |
We are subject to various legal proceedings, claims and governmental inquiries, inspections, audits or investigations pertaining to issues such as contract disputes, product liability, tax matters, patents and trademarks, advertising, pricing, business practices, governmental regulations, employment and other matters. Although the results of litigation and claims cannot be predicted with certainty, we believe that the ultimate disposition of these matters, to the extent not previously provided for, will not have a material adverse effect, individually or in the aggregate, on our business, financial condition, results of operations or liquidity. | |
We are subject to federal, state and local environmental protection laws and regulations with respect to our business operations and are operating in compliance with, or taking action aimed at ensuring compliance with, these laws and regulations. We have been named a potentially responsible party under the provisions of the U.S. federal Comprehensive Environmental Response, Compensation and Liability Act, or analogous state statutes, at a number of sites where hazardous substances are present. None of our compliance obligations with environmental protection laws and regulations, individually or in the aggregate, is expected to have a material adverse effect on our business, financial condition, results of operations or liquidity. |
Objectives_and_Strategies_for_
Objectives and Strategies for Using Derivatives | 12 Months Ended | |||||||||||||||
Dec. 31, 2014 | ||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||||||||||||||||
Objectives and Strategies for Using Derivatives | Objectives and Strategies for Using Derivatives | |||||||||||||||
As a multinational enterprise, we are exposed to financial risks, such as changes in foreign currency exchange rates, interest rates, and commodity prices. We employ a number of practices to manage these risks, including operating and financing activities and, where appropriate, the use of derivative instruments. We enter into derivative instruments to hedge a portion of forecasted cash flows denominated in foreign currencies for non-U.S. operations' purchases of raw materials, which are priced in U.S. dollars, and imports of intercompany finished goods and work-in-process priced predominantly in U.S. dollars and euros. The derivative instruments used to manage these exposures are designated and qualify as cash flow hedges. The foreign currency exposure on certain non-functional currency denominated monetary assets and liabilities, primarily intercompany loans and accounts payable, is hedged with primarily undesignated derivative instruments. | ||||||||||||||||
Interest rate risk is managed using a portfolio of variable- and fixed-rate debt composed of short- and long-term instruments. Interest rate swap contracts may be used to facilitate the maintenance of the desired ratio of variable- and fixed-rate debt and are designated and qualify as fair value hedges. From time to time, we also hedge the anticipated issuance of fixed-rate debt, using forward-starting swaps, and these contracts are designated as cash flow hedges. | ||||||||||||||||
We use derivative instruments, such as forward swap contracts, to hedge a limited portion of our exposure to market risk arising from changes in prices of certain commodities. These derivatives are designated as cash flow hedges of specific quantities of the underlying commodity expected to be purchased in future months. | ||||||||||||||||
Translation adjustments result from translating foreign entities' financial statements into U.S. dollars from their functional currencies. The risk to any particular entity's net assets is reduced to the extent that the entity is financed with local currency borrowing. Translation exposure, which results from changes in translation rates between functional currencies and the U.S. dollar, generally is not hedged. | ||||||||||||||||
Set forth below is a summary of the total designated and undesignated fair values of our derivative instruments: | ||||||||||||||||
Assets | Liabilities | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Foreign currency exchange contracts | $ | 54 | $ | 34 | $ | 102 | $ | 49 | ||||||||
Interest rate contracts | — | 22 | 4 | — | ||||||||||||
Commodity price contracts | — | 6 | 10 | — | ||||||||||||
Total | $ | 54 | $ | 62 | $ | 116 | $ | 49 | ||||||||
The derivative assets are included in the Consolidated Balance Sheet in other current assets and other assets, as appropriate. The derivative liabilities are included in the Consolidated Balance Sheet in accrued expenses and other liabilities, as appropriate. | ||||||||||||||||
Derivative instruments that are designated and qualify as fair value hedges are predominantly used to manage interest rate risk. The fair values of these derivative instruments are recorded as an asset or liability, as appropriate, with the offset recorded in current earnings. The offset to the change in fair values of the related hedged items also is recorded in current earnings. Any realized gain or loss on the derivatives that hedge interest rate risk is amortized to interest expense over the life of the related debt. At December 31, 2014, the aggregate notional values of outstanding interest rate contracts designated as fair value hedges were $250. Fair value hedges resulted in no significant ineffectiveness in each of the three years ended December 31, 2014. For each of the three years ended December 31, 2014, gains or losses recognized in interest expense for interest rates swaps were not significant. For each of the three years ended December 31, 2014, no gain or loss was recognized in earnings as a result of a hedged firm commitment no longer qualifying as a fair value hedge. | ||||||||||||||||
For derivative instruments that are designated and qualify as cash flow hedges, the effective portion of the gain or loss on the derivative instrument is initially recorded in AOCI, net of related income taxes, and recognized in earnings in the same period that the hedged exposure affects earnings. As of December 31, 2014, outstanding commodity forward contracts were in place to hedge a limited portion of our estimated requirements of the related underlying commodities in 2015 and future periods. As of December 31, 2014, the aggregate notional values of outstanding foreign exchange and interest rate derivative contracts designated as cash flow hedges were $820 and $200, respectively. Cash flow hedges resulted in no significant ineffectiveness in each of the three years ended December 31, 2014. For each of the three years ended December 31, 2014, no gains or losses were reclassified into earnings as a result of the discontinuance of cash flow hedges due to the original forecast transaction no longer being probable of occurring. At December 31, 2014, amounts to be reclassified from AOCI during the next twelve months are not expected to be material. The maximum maturity of cash flow hedges in place at December 31, 2014 is December 2017. | ||||||||||||||||
Gains or losses on undesignated foreign exchange hedging instruments are immediately recognized in other (income) and expense, net. Losses of $192 and $74 and gains of $69 were recorded in the years ending December 31, 2014, 2013 and 2012, respectively. The effect on earnings from the use of these non-designated derivatives is substantially neutralized by the transactional gains and losses recorded on the underlying assets and liabilities. At December 31, 2014, the notional amount of these undesignated derivative instruments was $2.6 billion. |
Income_Taxes
Income Taxes | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Income Tax Disclosure [Abstract] | ||||||||||||
Income Taxes | Income Taxes | |||||||||||
An analysis of the provision for income taxes follows: | ||||||||||||
Year Ended December 31 | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Current income taxes | ||||||||||||
United States | $ | 350 | $ | 292 | $ | 112 | ||||||
State | 48 | 99 | 15 | |||||||||
Other countries | 387 | 286 | 289 | |||||||||
Total | 785 | 677 | 416 | |||||||||
Deferred income taxes | ||||||||||||
United States | 67 | 85 | 218 | |||||||||
State | (16 | ) | 14 | 36 | ||||||||
Other countries | 20 | 52 | (10 | ) | ||||||||
Total | 71 | 151 | 244 | |||||||||
Total provision for income taxes | $ | 856 | $ | 828 | $ | 660 | ||||||
Income from continuing operations before income taxes is earned in the following tax jurisdictions: | ||||||||||||
Year Ended December 31 | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
United States | $ | 1,571 | $ | 1,557 | $ | 1,223 | ||||||
Other countries | 684 | 1,084 | 887 | |||||||||
Total income before income taxes | $ | 2,255 | $ | 2,641 | $ | 2,110 | ||||||
Deferred income tax assets and liabilities are composed of the following: | ||||||||||||
31-Dec | ||||||||||||
2014 | 2013 | |||||||||||
Deferred tax assets | ||||||||||||
Pension and other postretirement benefits | $ | 883 | $ | 728 | ||||||||
Tax credits and loss carryforwards | 538 | 604 | ||||||||||
Property, plant and equipment, net | 77 | 104 | ||||||||||
Other | 590 | 516 | ||||||||||
2,088 | 1,952 | |||||||||||
Valuation allowance | (215 | ) | (197 | ) | ||||||||
Total deferred assets | 1,873 | 1,755 | ||||||||||
Deferred tax liabilities | ||||||||||||
Pension and other postretirement benefits | 260 | 259 | ||||||||||
Property, plant and equipment, net | 1,162 | 1,244 | ||||||||||
Investments in subsidiaries | 223 | 205 | ||||||||||
Other | 339 | 396 | ||||||||||
Total deferred tax liabilities | 1,984 | 2,104 | ||||||||||
Net deferred tax assets (liabilities) | $ | (111 | ) | $ | (349 | ) | ||||||
Valuation allowances at the end of 2014 primarily relate to tax credits and income tax loss carryforwards of $1.0 billion. If these items are not utilized against taxable income, $445 of the loss carryforwards will expire from 2015 through 2034. The remaining $557 have no expiration date. | ||||||||||||
Realization of income tax loss carryforwards is dependent on generating sufficient taxable income prior to expiration of these carryforwards. Although realization is not assured, we believe it is more likely than not that all of the deferred tax assets, net of applicable valuation allowances, will be realized. The amount of the deferred tax assets considered realizable could be reduced or increased due to changes in the tax environment or if estimates of future taxable income change during the carryforward period. | ||||||||||||
Presented below is a reconciliation of the income tax provision computed at the U.S. federal statutory tax rate to the actual effective tax rate: | ||||||||||||
Year Ended December 31 | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
U.S. statutory rate applied to income before income taxes | 35 | % | 35 | % | 35 | % | ||||||
Rate of state income taxes, net of federal tax benefit | 0.7 | 2.7 | 1.6 | |||||||||
Statutory rates other than U.S. statutory rate | (3.0 | ) | (3.0 | ) | (2.8 | ) | ||||||
Venezuela balance sheet remeasurement and inflationary impacts | 4.9 | (0.8 | ) | (0.4 | ) | |||||||
Other - net(a) | 0.4 | (2.5 | ) | (2.1 | ) | |||||||
Effective income tax rate | 38 | % | 31.4 | % | 31.3 | % | ||||||
(a) | Other - net is composed of numerous items, none of which is greater than 1.75 percent of income before income taxes. | |||||||||||
At December 31, 2014, U.S. income taxes and foreign withholding taxes have not been provided on $8.6 billion of unremitted earnings of subsidiaries operating outside the U.S. These earnings, which are considered to be invested indefinitely, would become subject to income tax if they were remitted as dividends, were lent to one of our U.S. entities, or if we were to sell our stock in the subsidiaries. Determination of the amount of unrecognized deferred U.S. income tax liability on these unremitted earnings is not practicable because of the complexities associated with this hypothetical calculation. We do not expect restrictions or taxes on repatriation of cash held outside of the United States to have a material effect on our overall liquidity, financial condition or results of operations in the foreseeable future. | ||||||||||||
Presented below is a reconciliation of the beginning and ending amounts of unrecognized income tax benefits: | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Balance at January 1 | $ | 473 | $ | 435 | $ | 558 | ||||||
Gross increases for tax positions of prior years | 36 | 73 | 30 | |||||||||
Gross decreases for tax positions of prior years | (91 | ) | (31 | ) | (104 | ) | ||||||
Gross increases for tax positions of the current year | 87 | 37 | 52 | |||||||||
Settlements | (77 | ) | (35 | ) | (100 | ) | ||||||
Other | (12 | ) | (6 | ) | (1 | ) | ||||||
Balance at December 31 | $ | 416 | $ | 473 | $ | 435 | ||||||
Of the amounts recorded as unrecognized tax benefits at December 31, 2014, $266 would reduce our effective tax rate if recognized. | ||||||||||||
We recognize accrued interest and penalties related to unrecognized tax benefits in income tax expense. During the years ended December 31, 2014, 2013 and 2012, the net cost in interest and penalties was not significant. Total accrued penalties and net accrued interest was $28 and $42 at December 31, 2014 and 2013, respectively. | ||||||||||||
It is reasonably possible that a number of uncertainties could be resolved within the next 12 months, the most significant of which involves tax credits. It is reasonably possible the aggregate resolution of the uncertainties could be up to $130, while none of the uncertainties is individually significant. Resolution of these matters is not expected to have a material effect on our financial condition, results of operations or liquidity. | ||||||||||||
As of December 31, 2014, the following tax years remain subject to examination for the major jurisdictions where we conduct business: | ||||||||||||
Jurisdiction | Years | |||||||||||
United States | 2012 to 2014 | |||||||||||
United Kingdom | 2012 to 2014 | |||||||||||
Brazil | 2009 to 2014 | |||||||||||
Korea | 2014 | |||||||||||
China | 2003 to 2014 | |||||||||||
Our U.S. federal income tax returns have been audited through 2011. We have various federal income tax return positions in administrative appeals or litigation for 1999 to 2011. | ||||||||||||
State income tax returns are generally subject to examination for a period of 3 to 5 years after filing of the respective return. The state effect of any changes to filed federal positions remains subject to examination by various states for a period of up to two years after formal notification to the states. We have various state income tax return positions in the process of examination, administrative appeals or litigation. |
Earnings_Per_Share
Earnings Per Share | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Earnings Per Share [Abstract] | ||||||||||||
Earnings Per Share | Earnings Per Share ("EPS") | |||||||||||
There are no adjustments required to be made to net income for purposes of computing basic and diluted EPS. The average number of common shares outstanding is reconciled to those used in the basic and diluted EPS computations as follows: | ||||||||||||
(Millions of shares) | 2014 | 2013 | 2012 | |||||||||
Basic | 374.5 | 384 | 393 | |||||||||
Dilutive effect of stock options and restricted share unit awards | 2.9 | 3.3 | 3.1 | |||||||||
Diluted | 377.4 | 387.3 | 396.1 | |||||||||
Options outstanding that were not included in the computation of diluted EPS mainly because their exercise price was greater than the average market price of the common shares are summarized below: | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Average number of share equivalents (millions) | 1.1 | 1.1 | 1.1 | |||||||||
Weighted-average exercise price | $ | 107.54 | $ | 103.29 | $ | 78.54 | ||||||
Options outstanding at year-end (millions) | 1.7 | 1.8 | 1.7 | |||||||||
The weighted-average exercise price for 2014 has been converted to reflect the impact on outstanding stock options as a result of the spin-off of our health care business. The number of common shares outstanding as of December 31, 2014, 2013 and 2012 was 365.3 million, 380.8 million and 389.3 million, respectively. | ||||||||||||
Description_of_Business_Segmen
Description of Business Segments | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||
Segment Reporting [Abstract] | ||||||||||||||||||||||||||||
Business Segment Information | Business Segment Information | |||||||||||||||||||||||||||
We are organized into operating segments based on product groupings. These operating segments have been aggregated into three reportable global business segments: Personal Care, Consumer Tissue and KCP. The reportable segments were determined in accordance with how our executive managers develop and execute global strategies to drive growth and profitability. These strategies include global plans for branding and product positioning, technology, research and development programs, cost reductions including supply chain management, and capacity and capital investments for each of these businesses. Segment management is evaluated on several factors, including operating profit. Segment operating profit excludes other (income) and expense, net and income and expense not associated with the business segments, including the charges related to the 2014 organization restructuring, the European strategic changes and the pulp and tissue restructuring actions described in Notes 3, 4 and 5, respectively. | ||||||||||||||||||||||||||||
The principal sources of revenue in each global business segment are described below: | ||||||||||||||||||||||||||||
• | Personal Care brands offer parents a trusted partner in caring for their families and deliver confidence, protection and discretion to adults through a wide variety of innovative solutions and products such as disposable diapers, training and youth pants, swimpants, baby wipes, feminine and incontinence care products, and other related products. Products in this segment are sold under the Huggies, Pull-Ups, Little Swimmers, GoodNites, DryNites, Kotex, U by Kotex, Intimus, Depend, Plenitud, Poise and other brand names. | |||||||||||||||||||||||||||
• | Consumer Tissue offers a wide variety of innovative solutions and trusted brands that touch and improve people's lives every day. Products in this segment include facial and bathroom tissue, paper towels, napkins and related products, and are sold under the Kleenex, Scott, Cottonelle, Viva, Andrex, Scottex, Neve and other brand names. | |||||||||||||||||||||||||||
• | K-C Professional helps transform workplaces for employees and patrons, making them healthier, safer and more productive, through a range of solutions and supporting products such as apparel, wipers, soaps, sanitizers, tissue and towels. Key brands in this segment include Kleenex, Scott, WypAll, Kimtech and Jackson Safety. | |||||||||||||||||||||||||||
Net sales to Wal-Mart Stores, Inc. were approximately 13 percent in 2014, 2013 and 2012. | ||||||||||||||||||||||||||||
Information concerning consolidated operations by business segment is presented in the following tables: | ||||||||||||||||||||||||||||
Consolidated Operations by Business Segment | ||||||||||||||||||||||||||||
Year Ended December 31 | ||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||
NET SALES(a) | ||||||||||||||||||||||||||||
Personal Care | $ | 9,635 | $ | 9,536 | $ | 9,576 | ||||||||||||||||||||||
Consumer Tissue | 6,645 | 6,637 | 6,527 | |||||||||||||||||||||||||
K-C Professional | 3,388 | 3,323 | 3,283 | |||||||||||||||||||||||||
Corporate & Other | 56 | 65 | 81 | |||||||||||||||||||||||||
TOTAL NET SALES | $ | 19,724 | $ | 19,561 | $ | 19,467 | ||||||||||||||||||||||
OPERATING PROFIT(b) | ||||||||||||||||||||||||||||
Personal Care | $ | 1,803 | $ | 1,698 | $ | 1,660 | ||||||||||||||||||||||
Consumer Tissue | 1,062 | 988 | 887 | |||||||||||||||||||||||||
K-C Professional | 604 | 605 | 542 | |||||||||||||||||||||||||
Corporate & Other(c) | (495 | ) | (381 | ) | (717 | ) | ||||||||||||||||||||||
Other (income) and expense, net(c) | 453 | 7 | (5 | ) | ||||||||||||||||||||||||
TOTAL OPERATING PROFIT | $ | 2,521 | $ | 2,903 | $ | 2,377 | ||||||||||||||||||||||
(a) | Net sales in the United States to third parties totaled $8,573, $8,557 and $8,514 in 2014, 2013 and 2012, respectively. | |||||||||||||||||||||||||||
(b) | Segment operating profit excludes other (income) and expense, net and income and expenses not associated with the business segments. | |||||||||||||||||||||||||||
(c) | Corporate & Other and other (income) and expense, net include the following charges: | |||||||||||||||||||||||||||
Year Ended December 31 | ||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||
European | European | European | Pulp and Tissue | Total | ||||||||||||||||||||||||
Strategic | Strategic | Strategic | Restructuring | |||||||||||||||||||||||||
Changes | Changes | Changes | Actions | |||||||||||||||||||||||||
Personal Care | $ | 20 | $ | 36 | $ | 213 | $ | — | $ | 213 | ||||||||||||||||||
Consumer Tissue | 12 | 27 | 66 | 125 | 191 | |||||||||||||||||||||||
K-C Professional | 1 | 13 | 20 | 9 | 29 | |||||||||||||||||||||||
Other (income) and expense, net | — | 5 | — | 1 | 1 | |||||||||||||||||||||||
Total | $ | 33 | $ | 81 | $ | 299 | $ | 135 | $ | 434 | ||||||||||||||||||
Corporate & Other also includes charges related to the 2014 organization restructuring of $133 and a charge of $41 related to the remeasurement of the Venezuelan balance sheet in 2014. In addition, other (income) and expense, net for 2014 includes a charge of $35 related to a regulatory dispute in the Middle East, and for 2014 and 2013 includes charges of $421 and $36 related to the remeasurement of the Venezuelan balance sheet, respectively. | ||||||||||||||||||||||||||||
Personal | Consumer | K-C | Corporate | Ongoing | Health Care | Consolidated | ||||||||||||||||||||||
Care | Tissue | Professional | & Other | Operations | Business | Total | ||||||||||||||||||||||
(Spun-off) | ||||||||||||||||||||||||||||
Depreciation and Amortization | ||||||||||||||||||||||||||||
2014 | $ | 359 | $ | 299 | $ | 132 | $ | 3 | $ | 793 | $ | 69 | $ | 862 | ||||||||||||||
2013 | 332 | 318 | 138 | 4 | 792 | 71 | 863 | |||||||||||||||||||||
2012 | 315 | 331 | 141 | 11 | 798 | 59 | 857 | |||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||
2014 | 6,373 | 5,229 | 2,339 | 1,585 | 15,526 | — | 15,526 | |||||||||||||||||||||
2013 | 6,623 | 5,483 | 2,431 | 2,012 | 16,549 | 2,370 | 18,919 | |||||||||||||||||||||
2012 | 7,014 | 5,531 | 2,739 | 2,058 | 17,342 | 2,531 | 19,873 | |||||||||||||||||||||
Capital Spending | ||||||||||||||||||||||||||||
2014 | 501 | 314 | 143 | 6 | 964 | 75 | 1,039 | |||||||||||||||||||||
2013 | 461 | 328 | 118 | 2 | 909 | 44 | 953 | |||||||||||||||||||||
2012 | 551 | 352 | 116 | 32 | 1,051 | 42 | 1,093 | |||||||||||||||||||||
Sales of Principal Products | ||||||||||||||||||||||||||||
(Billions of dollars) | 2014 | 2013 | 2012 | |||||||||||||||||||||||||
Consumer tissue products | $ | 6.6 | $ | 6.6 | $ | 6.5 | ||||||||||||||||||||||
Baby and child care products | 7 | 7 | 7.1 | |||||||||||||||||||||||||
Away-from-home professional products | 3.4 | 3.3 | 3.3 | |||||||||||||||||||||||||
All other | 2.7 | 2.7 | 2.6 | |||||||||||||||||||||||||
Consolidated | $ | 19.7 | $ | 19.6 | $ | 19.5 | ||||||||||||||||||||||
Supplemental_Data
Supplemental Data | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Supplemental Data | ||||||||||||||||||||||||
Supplemental Data | Supplemental Data | |||||||||||||||||||||||
Supplemental Income Statement Data | ||||||||||||||||||||||||
Year Ended December 31 | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Advertising expense | $ | 767 | $ | 769 | $ | 804 | ||||||||||||||||||
Research expense | 368 | 333 | 335 | |||||||||||||||||||||
Equity Companies' Data | ||||||||||||||||||||||||
Net | Gross | Operating | Net | Corporation's | ||||||||||||||||||||
Sales | Profit | Profit | Income | Share of Net | ||||||||||||||||||||
Income | ||||||||||||||||||||||||
2014 | $ | 2,452 | $ | 781 | $ | 485 | $ | 304 | $ | 146 | ||||||||||||||
2013 | 2,638 | 950 | 642 | 426 | 205 | |||||||||||||||||||
2012 | 2,514 | 864 | 567 | 368 | 177 | |||||||||||||||||||
Current | Non- | Current | Non- | Stockholders' | ||||||||||||||||||||
Assets | Current | Liabilities | Current | Equity | ||||||||||||||||||||
Assets | Liabilities | |||||||||||||||||||||||
2014 | $ | 1,016 | $ | 1,040 | $ | 690 | $ | 963 | $ | 403 | ||||||||||||||
2013 | 1,197 | 1,124 | 847 | 845 | 629 | |||||||||||||||||||
2012 | 1,054 | 1,068 | 712 | 837 | 573 | |||||||||||||||||||
Equity companies are principally engaged in operations in the personal care and consumer tissue businesses. At December 31, 2014, our ownership interest in Kimberly-Clark de Mexico, S.A.B. de C.V. and subsidiaries was 47.9%. Kimberly-Clark de Mexico, S.A.B. de C.V. is partially owned by the public, and its stock is publicly traded in Mexico. At December 31, 2014, our investment in this equity company was $194, and the estimated fair value of the investment was $3.4 billion based on the market price of publicly traded shares. Our other equity ownership interests are not significant to our consolidated balance sheet or financial results. | ||||||||||||||||||||||||
At December 31, 2014, unremitted net income of equity companies included in consolidated retained earnings was $1.0 billion. | ||||||||||||||||||||||||
Supplemental Balance Sheet Data | ||||||||||||||||||||||||
See Note 2 for the impact of the spin-off of our health care business on the Consolidated Balance Sheet. | ||||||||||||||||||||||||
December 31 | ||||||||||||||||||||||||
Summary of Accounts Receivable, Net | 2014 | 2013 | ||||||||||||||||||||||
From customers | $ | 2,079 | $ | 2,345 | ||||||||||||||||||||
Other | 210 | 271 | ||||||||||||||||||||||
Less allowance for doubtful accounts and sales discounts | (66 | ) | (71 | ) | ||||||||||||||||||||
Total | $ | 2,223 | $ | 2,545 | ||||||||||||||||||||
December 31 | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Summary of Inventories by Major Class | LIFO | Non- | Total | LIFO | Non- | Total | ||||||||||||||||||
LIFO | LIFO | |||||||||||||||||||||||
At the lower of cost, determined on the FIFO or weighted-average cost methods, or market | ||||||||||||||||||||||||
Raw materials | $ | 104 | $ | 322 | $ | 426 | $ | 143 | $ | 319 | $ | 462 | ||||||||||||
Work in process | 120 | 95 | 215 | 189 | 97 | 286 | ||||||||||||||||||
Finished goods | 511 | 672 | 1,183 | 648 | 753 | 1,401 | ||||||||||||||||||
Supplies and other | — | 288 | 288 | — | 326 | 326 | ||||||||||||||||||
735 | 1,377 | 2,112 | 980 | 1,495 | 2,475 | |||||||||||||||||||
Excess of FIFO or weighted-average cost over LIFO cost | (220 | ) | — | (220 | ) | (242 | ) | — | (242 | ) | ||||||||||||||
Total | $ | 515 | $ | 1,377 | $ | 1,892 | $ | 738 | $ | 1,495 | $ | 2,233 | ||||||||||||
December 31 | ||||||||||||||||||||||||
Summary of Property, Plant and Equipment, Net | 2014 | 2013 | ||||||||||||||||||||||
Land | $ | 177 | $ | 196 | ||||||||||||||||||||
Buildings | 2,574 | 2,776 | ||||||||||||||||||||||
Machinery and equipment | 13,437 | 14,193 | ||||||||||||||||||||||
Construction in progress | 591 | 515 | ||||||||||||||||||||||
16,779 | 17,680 | |||||||||||||||||||||||
Less accumulated depreciation | (9,420 | ) | (9,732 | ) | ||||||||||||||||||||
Total | $ | 7,359 | $ | 7,948 | ||||||||||||||||||||
Property, plant and equipment, net in the United States as of December 31, 2014 and 2013 was $3,685 and $3,917, respectively. | ||||||||||||||||||||||||
December 31 | ||||||||||||||||||||||||
Summary of Accrued Expenses | 2014 | 2013 | ||||||||||||||||||||||
Accrued advertising and promotion | $ | 326 | $ | 355 | ||||||||||||||||||||
Accrued salaries and wages | 415 | 471 | ||||||||||||||||||||||
Accrued rebates | 258 | 358 | ||||||||||||||||||||||
Accrued taxes - income and other | 330 | 336 | ||||||||||||||||||||||
Derivatives | 113 | 44 | ||||||||||||||||||||||
Other | 532 | 496 | ||||||||||||||||||||||
Total | $ | 1,974 | $ | 2,060 | ||||||||||||||||||||
Supplemental Cash Flow Statement Data | ||||||||||||||||||||||||
Summary of Cash Flow Effects of Decrease (Increase) in Operating Working Capital | Year Ended December 31 | |||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Accounts receivable | $ | 267 | $ | 4 | $ | (38 | ) | |||||||||||||||||
Inventories | 12 | 100 | 9 | |||||||||||||||||||||
Trade accounts payable | (30 | ) | 128 | 45 | ||||||||||||||||||||
Accrued expenses | (120 | ) | (177 | ) | 133 | |||||||||||||||||||
Accrued income taxes | (159 | ) | (90 | ) | 13 | |||||||||||||||||||
Derivatives | 103 | 5 | (86 | ) | ||||||||||||||||||||
Currency and other | (249 | ) | (128 | ) | 43 | |||||||||||||||||||
Total | $ | (176 | ) | $ | (158 | ) | $ | 119 | ||||||||||||||||
Year Ended December 31 | ||||||||||||||||||||||||
Other Cash Flow Data | 2014 | 2013 | 2012 | |||||||||||||||||||||
Interest paid | $ | 300 | $ | 307 | $ | 299 | ||||||||||||||||||
Income taxes paid | 926 | 776 | 451 | |||||||||||||||||||||
Valuation_and_Qualifying_Accou
Valuation and Qualifying Accounts | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||
Valuation and Qualifying Accounts [Abstract] | ||||||||||||||||||||
Valuation and Qualifying Accounts | KIMBERLY-CLARK CORPORATION AND SUBSIDIARIES | |||||||||||||||||||
SCHEDULE II | ||||||||||||||||||||
VALUATION AND QUALIFYING ACCOUNTS | ||||||||||||||||||||
FOR THE YEARS ENDED DECEMBER 31, 2014, 2013 AND 2012 | ||||||||||||||||||||
(Millions of dollars) | ||||||||||||||||||||
Description | Balance at | Additions | Deductions | |||||||||||||||||
Beginning | ||||||||||||||||||||
of Period | Charged to | Charged to | Write-Offs and | Balance | ||||||||||||||||
Costs and | Other | Reclassifications | at End of | |||||||||||||||||
Expenses | Accounts(a) | Period | ||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||
Allowances deducted from assets to which they apply | ||||||||||||||||||||
Allowance for doubtful accounts | $ | 51 | $ | 13 | $ | (7 | ) | $ | 7 | (b) | $ | 50 | ||||||||
Allowances for sales discounts | 20 | 265 | (1 | ) | 268 | (c) | 16 | |||||||||||||
December 31, 2013 | ||||||||||||||||||||
Allowances deducted from assets to which they apply | ||||||||||||||||||||
Allowance for doubtful accounts | $ | 60 | $ | — | $ | (4 | ) | $ | 5 | (b) | $ | 51 | ||||||||
Allowances for sales discounts | 20 | 275 | (1 | ) | 274 | (c) | 20 | |||||||||||||
December 31, 2012 | ||||||||||||||||||||
Allowances deducted from assets to which they apply | ||||||||||||||||||||
Allowance for doubtful accounts | $ | 57 | $ | 9 | $ | — | $ | 6 | (b) | $ | 60 | |||||||||
Allowances for sales discounts | 21 | 280 | — | 281 | (c) | 20 | ||||||||||||||
(a) | Includes bad debt recoveries and the effects of changes in foreign currency exchange rates. | |||||||||||||||||||
(b) | Primarily uncollectible receivables written off. | |||||||||||||||||||
(c) | Sales discounts allowed. | |||||||||||||||||||
Additions | ||||||||||||||||||||
Description | Balance at | Charged to | Charged to | Deductions(a) | Balance | |||||||||||||||
Beginning | Costs and | Other | at End | |||||||||||||||||
of Period | Expenses | Accounts | of Period | |||||||||||||||||
December 31, 2014 | ||||||||||||||||||||
Deferred taxes | ||||||||||||||||||||
Valuation allowance | $ | 197 | $ | 30 | $ | — | $ | 12 | $ | 215 | ||||||||||
December 31, 2013 | ||||||||||||||||||||
Deferred taxes | ||||||||||||||||||||
Valuation allowance | $ | 215 | $ | (11 | ) | $ | — | $ | 7 | $ | 197 | |||||||||
December 31, 2012 | ||||||||||||||||||||
Deferred taxes | ||||||||||||||||||||
Valuation allowance | $ | 229 | $ | (18 | ) | $ | — | $ | (4 | ) | $ | 215 | ||||||||
(a) | Represents the net currency effects of translating valuation allowances at current rates of exchange. |
Accounting_Policies_Policy
Accounting Policies (Policy) | 12 Months Ended |
Dec. 31, 2014 | |
Accounting Policies [Abstract] | |
Use of Estimates | Use of Estimates |
The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of net sales and expenses during the reporting periods. Actual results could differ from these estimates, and changes in these estimates are recorded when known. Estimates are used in accounting for, among other things, sales incentives and trade promotion allowances, employee postretirement benefits, and deferred income taxes and potential assessments. | |
Cash Equivalents | Cash Equivalents |
Cash equivalents are short-term investments with an original maturity date of three months or less. | |
Inventories and Distribution Costs | Inventories and Distribution Costs |
Most U.S. inventories are valued at the lower of cost, using the Last-In, First-Out (LIFO) method, or market. The balance of the U.S. inventories and inventories of consolidated operations outside the U.S. are valued at the lower of cost, using either the First-In, First-Out (FIFO) or weighted-average cost methods, or market. Distribution costs are classified as cost of products sold. | |
Property and Depreciation | Property and Depreciation |
Property, plant and equipment are stated at cost and are depreciated on the straight-line method. Buildings are depreciated over their estimated useful lives, primarily 40 years. Machinery and equipment are depreciated over their estimated useful lives, primarily ranging from 16 to 20 years. Purchases of computer software, including external costs and certain internal costs (including payroll and payroll-related costs of employees) directly associated with developing significant computer software applications for internal use, are capitalized. Computer software costs are amortized on the straight-line method over the estimated useful life of the software, which generally does not exceed 5 years. | |
Estimated useful lives are periodically reviewed and, when warranted, changes are made to them. Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that their carrying amount may not be recoverable. An impairment loss would be indicated when estimated undiscounted future cash flows from the use and eventual disposition of an asset group, which are identifiable and largely independent of the cash flows of other asset groups, are less than the carrying amount of the asset group. Measurement of an impairment loss would be based on the excess of the carrying amount of the asset group over its fair value. Fair value is measured using discounted cash flows or independent appraisals, as appropriate. When property is sold or retired, the cost of the property and the related accumulated depreciation are removed from the Consolidated Balance Sheet and any gain or loss on the transaction is included in income. | |
Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets |
Goodwill represents costs in excess of fair values assigned to the underlying net assets of acquired businesses. Goodwill is not amortized, but rather is tested for impairment annually and whenever events and circumstances indicate that impairment may have occurred. Impairment testing compares the reporting unit carrying amount of goodwill with its fair value. Fair value is estimated based on discounted cash flows. If the reporting unit carrying amount of goodwill exceeds its fair value, an impairment charge would be recorded. For 2014, we have completed the required annual testing of goodwill for impairment for all reporting units using the first day of the third quarter as the measurement date, and have determined that goodwill is not impaired. | |
Intangible assets with finite lives are amortized over their estimated useful lives and are reviewed for impairment whenever events or changes in circumstances indicate that their carrying amount may not be recoverable. Estimated useful lives range from 2 to 20 years for trademarks, 5 to 15 years for patents and developed technologies, and 5 to 15 years for other intangible assets. An impairment loss would be indicated when estimated undiscounted future cash flows from the use of the asset are less than its carrying amount. An impairment loss would be measured as the difference between the fair value (based on discounted future cash flows) and the carrying amount of the asset. | |
Investments in Equity Companies | Investments in Equity Companies |
Investments in companies which we do not control but over which we have the ability to exercise significant influence and that, in general, are at least 20 percent-owned by us, are stated at cost plus equity in undistributed net income. These investments are evaluated for impairment when warranted. An impairment loss would be recorded whenever a decline in value of an equity investment below its carrying amount is determined to be other than temporary. In judging "other than temporary," we would consider the length of time and extent to which the fair value of the equity company investment has been less than the carrying amount, the near-term and longer-term operating and financial prospects of the equity company, and our longer-term intent of retaining the investment in the equity company. | |
Revenue Recognition | Revenue Recognition |
Sales revenue is recognized at the time of product shipment or delivery, depending on when title passes, to unaffiliated customers, and when all of the following have occurred: a firm sales agreement is in place, pricing is fixed or determinable, and collection is reasonably assured. Sales are reported net of returns, consumer and trade promotions, rebates and freight allowed. Taxes imposed by governmental authorities on our revenue-producing activities with customers, such as sales taxes and value-added taxes, are excluded from net sales. | |
Sales Incentives and Trade Promotion Allowances | Sales Incentives and Trade Promotion Allowances |
The cost of promotion activities provided to customers is classified as a reduction in sales revenue. In addition, the estimated redemption value of consumer coupons is recorded at the time the coupons are issued and classified as a reduction in sales revenue. Estimates of trade promotion liabilities for promotional program costs incurred, but unpaid, are generally based on estimates of the quantity of customer sales, timing of promotional activities and forecasted costs for activities within the promotional programs. | |
Advertising Expense | Advertising Expense |
Advertising costs are expensed in the year the related advertisement or campaign is first presented by the media. For interim reporting purposes, advertising expenses are charged to operations as a percentage of sales based on estimated sales and related advertising expense for the full year. | |
Research Expense | Research Expense |
Research and development costs are charged to expense as incurred. | |
Foreign Currency Translation | Foreign Currency Translation |
The income statements of foreign operations, other than those in highly inflationary economies, are translated into U.S. dollars at rates of exchange in effect each month. The balance sheets of these operations are translated at period-end exchange rates, and the differences from historical exchange rates are reflected in stockholders' equity as unrealized translation adjustments. | |
The income statements and balance sheets of operations in highly inflationary economies are translated into U.S. dollars using both current and historical rates of exchange. We account for our operations in Venezuela using highly inflationary accounting. | |
Derivative Instruments and Hedging | While we continue to seek approval for additional imports at the official rate, unless we are able to obtain further approvals for imports through approved letters of credit or through the official government exchange system, we may be forced to curtail some or all of our local manufacturing in the future until such approvals to import additional raw materials are forthcoming. In January 2015, we measured results in Venezuela at the floating SICAD II exchange rate. In mid-February 2015, the government of Venezuela announced changes to their three-tiered currency exchange system. We are evaluating the implications of these changes to assess the impact on our results and reporting for our operations in that country. |
Derivative Instruments and Hedging | |
Our policies allow the use of derivatives for risk management purposes and prohibit their use for speculation. Our policies also prohibit the use of any leveraged derivative instrument. Consistent with our policies, foreign currency derivative instruments, interest rate swaps and locks, and the majority of commodity hedging contracts are entered into with major financial institutions. At inception we formally designate certain derivatives as cash flow, fair value or net investment hedges and establish how the effectiveness of these hedges will be assessed and measured. This process links the derivatives to the transactions or financial balances they are hedging. Changes in the fair value of derivatives not designated as hedging instruments are recorded in earnings as they occur. All derivative instruments are recorded as assets or liabilities on the balance sheet at fair value. Changes in the fair value of derivatives are either recorded in the income statement or other comprehensive income, as appropriate. The gain or loss on derivatives designated as fair value hedges and the offsetting loss or gain on the hedged item attributable to the hedged risk are included in income in the period that changes in fair value occur. The effective portion of the gain or loss on derivatives designated as cash flow hedges is included in other comprehensive income in the period that changes in fair value occur, and is reclassified to income in the same period that the hedged item affects income. The gain or loss on derivatives designated as hedges of investments in foreign subsidiaries is recognized in other comprehensive income to offset the change in value of the net investments being hedged. Any ineffective portion of cash flow hedges and net investment hedges is immediately recognized in income. Certain foreign-currency derivative instruments not designated as hedging instruments have been entered into to manage a portion of our foreign currency transactional exposures. The gain or loss on these derivatives is included in income in the period that changes in their fair values occur. |
Spinoff_of_Health_Care_Busines1
Spinoff of Health Care Business and Related Costs (Tables) (Health Care Spin-off [Member]) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||||
Summary of the spun-off of the health care business [Table Text Block] | In connection with the spin-off, we transferred the following assets and liabilities to Halyard: | ||||||||||||
Assets | |||||||||||||
Cash | $ | 120 | |||||||||||
Accounts receivable, net | 37 | ||||||||||||
Inventories | 289 | ||||||||||||
Property, plant and equipment, net | 271 | ||||||||||||
Goodwill | 1,429 | ||||||||||||
Other intangible assets | 114 | ||||||||||||
Other assets | 66 | ||||||||||||
Total Assets | $ | 2,326 | |||||||||||
Liabilities | |||||||||||||
Accrued expenses | $ | 127 | |||||||||||
Debt | 636 | ||||||||||||
Deferred income taxes | 60 | ||||||||||||
Other liabilities | 7 | ||||||||||||
Total Liabilities | $ | 830 | |||||||||||
Net Assets Transferred in the Spin-Off | $ | 1,496 | |||||||||||
Operations of health care business included in health care business [Member] | |||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||||
Summary of the spun-off of the health care business [Table Text Block] | Summary results of operations for the spun-off health care business included in net income from discontinued operations, net of income taxes, were as follows: | ||||||||||||
Year Ended December 31 | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Net sales | $ | 1,320 | $ | 1,591 | $ | 1,596 | |||||||
Income before income taxes | 130 | 304 | 310 | ||||||||||
Provision for income taxes | (80 | ) | (101 | ) | (109 | ) | |||||||
Net income | 50 | 203 | 201 | ||||||||||
2014_Organization_Restructurin1
2014 Organization Restructuring (Tables) (2014 Organization Restructuring [Member]) | 12 Months Ended | |||
Dec. 31, 2014 | ||||
2014 Organization Restructuring [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Charges incurred in connection with restructuring | Charges in the fourth quarter of 2014 were $133, recorded in the following income statement line items: | |||
2014 | ||||
Cost of products sold | $ | 40 | ||
Marketing, research and general expenses | 93 | |||
Provision for income taxes | (38 | ) | ||
Net charges | $ | 95 | ||
European_Strategic_Changes_Tab
European Strategic Changes (Tables) (European Strategic Changes [Member]) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
European Strategic Changes [Member] | ||||||||||||
Restructuring Cost and Reserve | ||||||||||||
Charges incurred in connection with restructuring | The following charges were incurred in connection with the European strategic changes: | |||||||||||
Year Ended December 31 | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Asset impairments and other asset-related charges | $ | 2 | $ | 53 | $ | 165 | ||||||
Charges for workforce reductions | (5 | ) | 10 | 77 | ||||||||
Benefit from pension curtailment | — | (31 | ) | — | ||||||||
Other exit costs | 14 | 22 | 8 | |||||||||
Cost of products sold | 11 | 54 | 250 | |||||||||
Charges for workforce reductions and other exit costs included in marketing, research and general expenses and other (income) and expense, net | 22 | 27 | 49 | |||||||||
Provision for income taxes | (3 | ) | (15 | ) | (57 | ) | ||||||
Net charges | $ | 30 | $ | 66 | $ | 242 | ||||||
Fair_Value_Information_Tables
Fair Value Information (Tables) | 12 Months Ended | |||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||
Fair Value Disclosures [Abstract] | ||||||||||||||||||
Fair value of financial instruments | The following table includes the fair value of our financial instruments for which disclosure of fair value is required: | |||||||||||||||||
Fair Value | Carrying | Estimated | Carrying | Estimated | ||||||||||||||
Hierarchy | Amount | Fair | Amount | Fair | ||||||||||||||
Level | Value | Value | ||||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||||
Assets | ||||||||||||||||||
Cash and cash equivalents(a) | 1 | $ | 789 | $ | 789 | $ | 1,054 | $ | 1,054 | |||||||||
Time deposits(b) | 1 | 130 | 130 | 222 | 222 | |||||||||||||
Liabilities and redeemable securities of subsidiaries | ||||||||||||||||||
Short-term debt(c) | 2 | 777 | 777 | 63 | 63 | |||||||||||||
Long-term debt(d) | 2 | 6,179 | 6,963 | 5,698 | 6,721 | |||||||||||||
Redeemable securities of subsidiaries(e) | 3 | 72 | 72 | 578 | 598 | |||||||||||||
(a) | Cash equivalents are composed of certificates of deposit, time deposits and other interest-bearing investments with original maturity dates of 90 days or less. Cash equivalents are recorded at cost, which approximates fair value. | |||||||||||||||||
(b) | Time deposits are composed of deposits with original maturities of more than 90 days but less than one year and instruments with original maturities of greater than one year, included in other current assets or other assets in the Consolidated Balance Sheet, as appropriate. Time deposits are recorded at cost, which approximates fair value. | |||||||||||||||||
(c) | Short-term debt is composed of U.S. commercial paper and/or other similar short-term debt issued by non-U.S. subsidiaries, all of which are recorded at cost, which approximates fair value. | |||||||||||||||||
(d) | Long-term debt includes the current portion of these debt instruments. Fair values were estimated based on quoted prices for financial instruments for which all significant inputs were observable, either directly or indirectly. | |||||||||||||||||
(e) | The redeemable securities of subsidiaries are not traded in active markets. For certain instruments, fair values were calculated using a floating rate pricing model that compared the stated spread to the fair value spread to determine the price at which each of the financial instruments should trade. The model used the following inputs to calculate fair values: face value, current LIBOR rate, unobservable fair value credit spread, stated spread, maturity date and interest or dividend payment dates. Additionally, the fair value of the remaining redeemable securities was based on various inputs, including an independent third-party appraisal, adjusted for current market conditions. |
Acquisitions_and_Intangible_As1
Acquisitions and Intangible Assets (Tables) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ||||||||||||||||||||
Changes in the carrying amount of goodwill | The changes in the carrying amount of goodwill by business segment are as follows: | |||||||||||||||||||
Personal | Consumer | K-C | Health Care | Total | ||||||||||||||||
Care | Tissue | Professional | Business | |||||||||||||||||
Balance at December 31, 2012 | $ | 764 | $ | 695 | $ | 442 | $ | 1,436 | $ | 3,337 | ||||||||||
Acquisitions | 6 | — | — | 3 | 9 | |||||||||||||||
Currency and other | (86 | ) | (54 | ) | (18 | ) | (7 | ) | (165 | ) | ||||||||||
Balance at December 31, 2013 | 684 | 641 | 424 | 1,432 | 3,181 | |||||||||||||||
Currency and other | (59 | ) | (47 | ) | (15 | ) | (3 | ) | (124 | ) | ||||||||||
Spin-off of health care business | — | — | — | (1,429 | ) | (1,429 | ) | |||||||||||||
Balance at December 31, 2014 | $ | 625 | $ | 594 | $ | 409 | $ | — | $ | 1,628 | ||||||||||
Intangible assets subject to amortization | Intangible assets subject to amortization consist of the following at December 31: | |||||||||||||||||||
2014 | 2013 | |||||||||||||||||||
Gross | Accumulated | Gross | Accumulated | |||||||||||||||||
Carrying | Amortization | Carrying | Amortization | |||||||||||||||||
Amount | Amount | |||||||||||||||||||
Trademarks | $ | 117 | $ | 79 | $ | 252 | $ | 163 | ||||||||||||
Patents and developed technologies | 49 | 9 | 201 | 85 | ||||||||||||||||
Other | 64 | 33 | 93 | 62 | ||||||||||||||||
Total | $ | 230 | $ | 121 | $ | 546 | $ | 310 | ||||||||||||
Debt_Tables
Debt (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Debt Disclosure [Abstract] | ||||||||||||
Long-term debt | Long-term debt is composed of the following: | |||||||||||
Weighted- | Maturities | December 31 | ||||||||||
Average | ||||||||||||
Interest | ||||||||||||
Rate | 2014 | 2013 | ||||||||||
Notes and debentures | 4.70% | 2015 - 2043 | $ | 5,656 | $ | 5,163 | ||||||
Dealer remarketable securities | 4.30% | 2015 - 2016 | 200 | 200 | ||||||||
Industrial development revenue bonds | 0.20% | 2015 - 2034 | 261 | 261 | ||||||||
Bank loans and other financings in various currencies | 5.80% | 2015 - 2025 | 62 | 74 | ||||||||
Total long-term debt | 6,179 | 5,698 | ||||||||||
Less current portion | 549 | 312 | ||||||||||
Long-term portion | $ | 5,630 | $ | 5,386 | ||||||||
StockBased_Compensation_Tables
Stock-Based Compensation (Tables) | 12 Months Ended | |||||||||||||
Dec. 31, 2014 | ||||||||||||||
Share-based Compensation [Abstract] | ||||||||||||||
Schedule of weighted-average fair value of options, assumptions used | The weighted-average fair value of options granted was estimated at $7.89, $7.15 and $3.25, in 2014, 2013 and 2012, respectively, per option on the date of grant based on the following assumptions: | |||||||||||||
Year Ended December 31 | ||||||||||||||
2014 | 2013 | 2012 | ||||||||||||
Dividend yield | 3.5 | % | 3.7 | % | 4.5 | % | ||||||||
Volatility | 13.41 | % | 15.4 | % | 12.86 | % | ||||||||
Risk-free interest rate | 1.73 | % | 0.87 | % | 1.08 | % | ||||||||
Expected life—years | 5 | 5.1 | 5.8 | |||||||||||
Schedule of total remaining unrecognized compensation costs and amortization period | Total remaining unrecognized compensation costs and amortization period are as follows: | |||||||||||||
December 31, 2014 | Weighted- | |||||||||||||
Average | ||||||||||||||
Service | ||||||||||||||
Years | ||||||||||||||
Nonvested stock options | $ | 8 | 1 | |||||||||||
Restricted shares and time-vested restricted share units | 5 | 0.5 | ||||||||||||
Nonvested performance-based restricted share units | 44 | 1.2 | ||||||||||||
Summary of stock-based compensation | A summary of stock-based compensation is presented below: | |||||||||||||
Stock Options | Shares | Weighted- | Weighted- | Aggregate | ||||||||||
(in thousands) | Average | Average | Intrinsic | |||||||||||
Exercise | Remaining | Value | ||||||||||||
Price | Contractual | |||||||||||||
Term | ||||||||||||||
Outstanding at January 1, 2014 | 7,223 | $ | 75.77 | |||||||||||
Granted | 1,798 | 112.26 | ||||||||||||
Exercised | (1,860 | ) | 68.02 | |||||||||||
Forfeited or expired | (506 | ) | 97.57 | |||||||||||
Conversion for spin-off of health care business | 306 | 82.26 | ||||||||||||
Outstanding at December 31, 2014 | 6,961 | 82.32 | 6.51 | $ | 231 | |||||||||
Exercisable at December 31, 2014 | 3,846 | 68.26 | 4.76 | $ | 182 | |||||||||
Summary of nonvested restricted share units | ||||||||||||||
Time-Vested | Performance-Based | |||||||||||||
Restricted Share | Restricted Share | |||||||||||||
Units | Units | |||||||||||||
Other Stock-Based Awards | Shares | Weighted- | Shares | Weighted- | ||||||||||
(in thousands) | Average | (in thousands) | Average | |||||||||||
Grant-Date | Grant-Date | |||||||||||||
Fair Value | Fair Value | |||||||||||||
Nonvested at January 1, 2014 | 257 | $ | 81.38 | 2,083 | $ | 79.98 | ||||||||
Granted | 73 | 100.95 | 842 | 111.77 | ||||||||||
Vested | (70 | ) | 81.97 | (894 | ) | 65.02 | ||||||||
Forfeited | (38 | ) | 84.01 | (301 | ) | 94.73 | ||||||||
Dividend equivalent for spin-off of health care business | 22 | 78.04 | 79 | 95.8 | ||||||||||
Nonvested at December 31, 2014 | 244 | 86.34 | 1,809 | 96.35 | ||||||||||
Employee_Postretirement_Benefi1
Employee Postretirement Benefits (Tables) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract] | ||||||||||||||||||||||||
Benefit Cost Information or Defined Benefit Plan and Other Postretirement Benefit Plan | Summarized financial information about postretirement plans, excluding defined contribution retirement plans, is presented below: | |||||||||||||||||||||||
Pension Benefits | Other Benefits | |||||||||||||||||||||||
Year Ended December 31 | ||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
Change in Benefit Obligation | ||||||||||||||||||||||||
Benefit obligation at beginning of year | $ | 6,164 | $ | 6,590 | $ | 761 | $ | 824 | ||||||||||||||||
Service cost | 46 | 53 | 13 | 17 | ||||||||||||||||||||
Interest cost | 279 | 257 | 35 | 32 | ||||||||||||||||||||
Actuarial loss (gain) | 986 | (422 | ) | 39 | (60 | ) | ||||||||||||||||||
Currency and other | (207 | ) | 47 | (4 | ) | — | ||||||||||||||||||
Benefit payments from plans | (356 | ) | (343 | ) | — | — | ||||||||||||||||||
Direct benefit payments | (10 | ) | (13 | ) | (56 | ) | (52 | ) | ||||||||||||||||
Curtailments and settlements | (42 | ) | (5 | ) | — | — | ||||||||||||||||||
Benefit obligation at end of year | 6,860 | 6,164 | 788 | 761 | ||||||||||||||||||||
Change in Plan Assets | ||||||||||||||||||||||||
Fair value of plan assets at beginning of year | 5,567 | 5,375 | — | — | ||||||||||||||||||||
Actual return on plan assets | 694 | 268 | — | — | ||||||||||||||||||||
Employer contributions | 185 | 220 | — | — | ||||||||||||||||||||
Currency and other | (142 | ) | 47 | — | — | |||||||||||||||||||
Benefit payments | (356 | ) | (343 | ) | — | — | ||||||||||||||||||
Settlements | (34 | ) | — | — | — | |||||||||||||||||||
Fair value of plan assets at end of year | 5,914 | 5,567 | — | — | ||||||||||||||||||||
Funded Status | $ | (946 | ) | $ | (597 | ) | $ | (788 | ) | $ | (761 | ) | ||||||||||||
Amounts Recognized in the Balance Sheet | ||||||||||||||||||||||||
Noncurrent asset—prepaid benefit cost | $ | 6 | $ | 9 | $ | — | $ | — | ||||||||||||||||
Current liability—accrued benefit cost | (13 | ) | (12 | ) | (51 | ) | (56 | ) | ||||||||||||||||
Noncurrent liability—accrued benefit cost | (939 | ) | (594 | ) | (737 | ) | (705 | ) | ||||||||||||||||
Net amount recognized | $ | (946 | ) | $ | (597 | ) | $ | (788 | ) | $ | (761 | ) | ||||||||||||
Principal Plans and all Other Pension Plans | ||||||||||||||||||||||||
Principal Plans | All Other | Total | ||||||||||||||||||||||
Pension Plans | ||||||||||||||||||||||||
Year Ended December 31 | ||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
Projected benefit obligation (“PBO”) | $ | 6,312 | $ | 5,640 | $ | 548 | $ | 524 | $ | 6,860 | $ | 6,164 | ||||||||||||
Accumulated benefit obligation (“ABO”) | 6,221 | 5,555 | 475 | 439 | 6,696 | 5,994 | ||||||||||||||||||
Fair value of plan assets | 5,559 | 5,205 | 355 | 362 | 5,914 | 5,567 | ||||||||||||||||||
Pension Plans with an ABO in Excess of Plan Assets | ||||||||||||||||||||||||
December 31 | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
PBO | $ | 4,983 | $ | 5,722 | ||||||||||||||||||||
ABO | 4,908 | 5,622 | ||||||||||||||||||||||
Fair value of plan assets | 4,111 | 5,163 | ||||||||||||||||||||||
Components of Net Periodic Benefit Cost | ||||||||||||||||||||||||
Pension Benefits | Other Benefits | |||||||||||||||||||||||
Year Ended December 31 | ||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | |||||||||||||||||||
Service cost | $ | 46 | $ | 53 | $ | 45 | $ | 13 | $ | 17 | $ | 15 | ||||||||||||
Interest cost | 279 | 257 | 279 | 35 | 32 | 36 | ||||||||||||||||||
Expected return on plan assets(a) | (332 | ) | (331 | ) | (329 | ) | — | — | — | |||||||||||||||
Recognized net actuarial loss | 100 | 120 | 111 | — | 3 | 1 | ||||||||||||||||||
Curtailments and settlements | 20 | (31 | ) | 20 | — | — | — | |||||||||||||||||
Other | (3 | ) | 1 | (4 | ) | (1 | ) | (2 | ) | (1 | ) | |||||||||||||
Net periodic benefit cost | $ | 110 | $ | 69 | $ | 122 | $ | 47 | $ | 50 | $ | 51 | ||||||||||||
(a) | The expected return on plan assets is determined by multiplying the fair value of plan assets at the remeasurement date, typically the prior year-end adjusted for estimated current year cash benefit payments and contributions, by the expected long-term rate of return. | |||||||||||||||||||||||
Weighted-Average Assumptions Used to Determine Net Cost | ||||||||||||||||||||||||
Pension Benefits | Other Benefits | |||||||||||||||||||||||
Projected 2015 | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||
Discount rate | 3.83 | % | 4.66 | % | 4.04 | % | 4.87 | % | 4.97 | % | 3.97 | % | 4.7 | % | ||||||||||
Expected long-term return on plan assets | 5.21 | % | 5.98 | % | 6.26 | % | 6.49 | % | — | — | — | |||||||||||||
Rate of compensation increase | 2.63 | % | 2.67 | % | 2.73 | % | 2.91 | % | — | — | — | |||||||||||||
Weighted-Average Assumptions Used to Determine Benefit Obligations | ||||||||||||||||||||||||
Pension Benefits | Other Benefits | |||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
Discount rate | 3.83 | % | 4.66 | % | 4.28 | % | 4.97 | % | ||||||||||||||||
Rate of compensation increase | 2.63 | % | 2.67 | % | — | — | ||||||||||||||||||
Pension Plan Assets of the Principal Plans Measured at Fair Value | ||||||||||||||||||||||||
Fair Value Measurements at December 31, 2014 | ||||||||||||||||||||||||
Total | Quoted Prices | Significant | Significant Unobservable Inputs (Level 3) | |||||||||||||||||||||
in Active | Observable | |||||||||||||||||||||||
Markets for | Inputs | |||||||||||||||||||||||
Identical Assets | (Level 2) | |||||||||||||||||||||||
(Level 1) | ||||||||||||||||||||||||
Cash and Cash Equivalents | ||||||||||||||||||||||||
Held directly | $ | 28 | $ | 28 | $ | — | $ | — | ||||||||||||||||
Held through mutual and pooled funds | 175 | 9 | 166 | — | ||||||||||||||||||||
Fixed Income | ||||||||||||||||||||||||
Held directly | ||||||||||||||||||||||||
U.S. government and municipals | 252 | 71 | 181 | — | ||||||||||||||||||||
U.S. corporate debt | 2,167 | — | 2,167 | — | ||||||||||||||||||||
U.S. securitized fixed income | 6 | — | 6 | — | ||||||||||||||||||||
Held through mutual and pooled funds | ||||||||||||||||||||||||
U.S. corporate debt | 149 | — | 149 | — | ||||||||||||||||||||
International bonds | 1,438 | — | 1,438 | — | ||||||||||||||||||||
Multi-sector | 1 | 1 | — | — | ||||||||||||||||||||
Equity | ||||||||||||||||||||||||
Held directly | ||||||||||||||||||||||||
U.S. equity | 18 | 18 | — | — | ||||||||||||||||||||
Held through mutual and pooled funds | ||||||||||||||||||||||||
U.S. equity | 4 | 4 | — | — | ||||||||||||||||||||
Non-U.S. equity | 106 | 1 | 105 | — | ||||||||||||||||||||
Global equity | 1,186 | — | 1,186 | — | ||||||||||||||||||||
Other | 29 | 29 | — | — | ||||||||||||||||||||
Total Plan Assets | $ | 5,559 | $ | 161 | $ | 5,398 | $ | — | ||||||||||||||||
For the U.S. pension plan, equity option strategies are used when appropriate to reduce the volatility of returns on equity investments. As of December 31, 2014, the U.S. pension plan had equity options in place with a total notional value of approximately $950, and the fair value of the aggregate options was an asset position of $29. In addition, Treasury futures contracts are used when appropriate to manage duration targets, and equity futures contracts are used to manage the plan’s investment allocation. As of December 31, 2014, the U.S. plan had Treasury futures contracts in place with a total notional value of approximately $510 and an insignificant fair value. There were no equity futures contracts in place at December 31, 2014. The U.S. plan had Treasury and equity futures contracts with a total notional value of approximately $320 at December 31, 2013 with an insignificant fair value. | ||||||||||||||||||||||||
Fair Value Measurements at December 31, 2013 | ||||||||||||||||||||||||
Total | Quoted Prices | Significant | Significant Unobservable Inputs (Level 3) | |||||||||||||||||||||
in Active | Observable | |||||||||||||||||||||||
Markets for | Inputs | |||||||||||||||||||||||
Identical Assets | (Level 2) | |||||||||||||||||||||||
(Level 1) | ||||||||||||||||||||||||
Cash and Cash Equivalents | ||||||||||||||||||||||||
Held directly | $ | 33 | $ | 33 | $ | — | $ | — | ||||||||||||||||
Held through mutual and pooled funds | 173 | 34 | 139 | — | ||||||||||||||||||||
Fixed Income | ||||||||||||||||||||||||
Held directly | ||||||||||||||||||||||||
U.S. government and municipals | 211 | 71 | 140 | — | ||||||||||||||||||||
U.S. corporate debt | 1,654 | — | 1,654 | — | ||||||||||||||||||||
U.S. securitized fixed income | 8 | — | 8 | — | ||||||||||||||||||||
Held through mutual and pooled funds | ||||||||||||||||||||||||
U.S. corporate debt | 186 | — | 186 | — | ||||||||||||||||||||
International bonds | 1,089 | — | 1,089 | — | ||||||||||||||||||||
Multi-sector | 2 | 2 | — | — | ||||||||||||||||||||
Equity | ||||||||||||||||||||||||
Held directly | ||||||||||||||||||||||||
U.S. equity | 1 | 1 | — | — | ||||||||||||||||||||
Held through mutual and pooled funds | ||||||||||||||||||||||||
U.S. equity | 4 | 4 | — | — | ||||||||||||||||||||
Non-U.S. equity | 123 | 1 | 122 | — | ||||||||||||||||||||
Global equity | 1,691 | — | 1,691 | — | ||||||||||||||||||||
Other | 30 | — | — | 30 | ||||||||||||||||||||
Total Plan Assets | $ | 5,205 | $ | 146 | $ | 5,029 | $ | 30 | ||||||||||||||||
Estimated Future Benefit Payments | ||||||||||||||||||||||||
Pension Benefits | Other Benefits | |||||||||||||||||||||||
2015 | $ | 430 | $ | 52 | ||||||||||||||||||||
2016 | 432 | 53 | ||||||||||||||||||||||
2017 | 438 | 55 | ||||||||||||||||||||||
2018 | 440 | 57 | ||||||||||||||||||||||
2019 | 439 | 58 | ||||||||||||||||||||||
2020-2024 | 2,181 | 309 | ||||||||||||||||||||||
Defined Contribution Pension Plans | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
U.S. | $ | 87 | $ | 90 | $ | 82 | ||||||||||||||||||
Outside the U.S. | 34 | 27 | 26 | |||||||||||||||||||||
Total | $ | 121 | $ | 117 | $ | 108 | ||||||||||||||||||
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Income (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Equity [Abstract] | |||||||||||||||||
Components of AOCI attributable to Kimberly-Clark | The changes in the components of AOCI attributable to Kimberly-Clark, net of tax, are as follows: | ||||||||||||||||
Unrealized Translation | Defined Benefit Pension Plans | Other Postretirement Benefit Plans | Cash Flow Hedges and Other | ||||||||||||||
Balance as of December 31, 2012 | $ | (26 | ) | $ | (1,928 | ) | $ | (53 | ) | $ | (52 | ) | |||||
Other comprehensive income (loss) before reclassifications | (499 | ) | 218 | 36 | 24 | ||||||||||||
(Income) loss reclassified from AOCI | — | 42 | (a) | 2 | (a) | (6 | ) | ||||||||||
Net current period other comprehensive income (loss) | (499 | ) | 260 | 38 | 18 | ||||||||||||
Balance as of December 31, 2013 | (525 | ) | (1,668 | ) | (15 | ) | (34 | ) | |||||||||
Other comprehensive income (loss) before reclassifications | (819 | ) | (313 | ) | (23 | ) | 29 | ||||||||||
(Income) loss reclassified from AOCI | — | 57 | (a) | 1 | (a) | (11 | ) | ||||||||||
Net current period other comprehensive income (loss) | (819 | ) | (256 | ) | (22 | ) | 18 | ||||||||||
Spin-off of health care business | 9 | — | — | — | |||||||||||||
Balance as of December 31, 2014 | $ | (1,335 | ) | $ | (1,924 | ) | $ | (37 | ) | $ | (16 | ) | |||||
(a) | Included in computation of net periodic pension and postretirement benefits costs (see Note 11) | ||||||||||||||||
Change in Components of Accumulated Other Comprehensive Income (Loss) | The changes in the components of AOCI attributable to Kimberly-Clark, including the tax effect, are as follows: | ||||||||||||||||
Year Ended December 31 | |||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||
Unrealized translation | $ | (826 | ) | $ | (495 | ) | $ | 204 | |||||||||
Tax effect | 7 | (4 | ) | (9 | ) | ||||||||||||
(819 | ) | (499 | ) | 195 | |||||||||||||
Defined benefit pension plans | |||||||||||||||||
Unrecognized net actuarial loss and transition amount | |||||||||||||||||
Funded status recognition | (624 | ) | 356 | (588 | ) | ||||||||||||
Amortization included in net periodic benefit cost | 100 | 120 | 90 | ||||||||||||||
Currency and other | 69 | (8 | ) | (20 | ) | ||||||||||||
(455 | ) | 468 | (518 | ) | |||||||||||||
Unrecognized prior service cost/credit | |||||||||||||||||
Funded status recognition | 42 | — | — | ||||||||||||||
Amortization included in net periodic benefit cost | (7 | ) | (31 | ) | — | ||||||||||||
Currency and other | (3 | ) | (1 | ) | 3 | ||||||||||||
32 | (32 | ) | 3 | ||||||||||||||
Tax effect | 167 | (176 | ) | 165 | |||||||||||||
(256 | ) | 260 | (350 | ) | |||||||||||||
Other postretirement benefit plans | |||||||||||||||||
Unrecognized net actuarial loss and transition amount | (36 | ) | 65 | (32 | ) | ||||||||||||
Unrecognized prior service cost/credit | — | (3 | ) | (2 | ) | ||||||||||||
Tax effect | 14 | (24 | ) | 12 | |||||||||||||
(22 | ) | 38 | (22 | ) | |||||||||||||
Cash flow hedges and other | |||||||||||||||||
Recognition of effective portion of hedges | 18 | 37 | (20 | ) | |||||||||||||
Amortization included in net income | (5 | ) | (10 | ) | — | ||||||||||||
Currency and other | 2 | 4 | (1 | ) | |||||||||||||
15 | 31 | (21 | ) | ||||||||||||||
Tax effect | 3 | (13 | ) | 5 | |||||||||||||
18 | 18 | (16 | ) | ||||||||||||||
Spin-off of health care business | 9 | — | — | ||||||||||||||
Change in AOCI | $ | (1,070 | ) | $ | (183 | ) | $ | (193 | ) |
Leases_and_Commitments_Tables
Leases and Commitments (Tables) | 12 Months Ended | |||
Dec. 31, 2014 | ||||
Leases and Commitments | ||||
Future Minimum Obligations under Operating Leases | The future minimum obligations under operating leases having a noncancelable term in excess of one year are as follows: | |||
Year Ending December 31 | ||||
2015 | $ | 151 | ||
2016 | 117 | |||
2017 | 94 | |||
2018 | 70 | |||
2019 | 56 | |||
Thereafter | 99 | |||
Future minimum obligations | $ | 587 | ||
Objectives_and_Strategies_for_1
Objectives and Strategies for Using Derivatives (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2014 | ||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||||||||||||||||
Summary of fair values of derivative instruments | Set forth below is a summary of the total designated and undesignated fair values of our derivative instruments: | |||||||||||||||
Assets | Liabilities | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Foreign currency exchange contracts | $ | 54 | $ | 34 | $ | 102 | $ | 49 | ||||||||
Interest rate contracts | — | 22 | 4 | — | ||||||||||||
Commodity price contracts | — | 6 | 10 | — | ||||||||||||
Total | $ | 54 | $ | 62 | $ | 116 | $ | 49 | ||||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Income Tax Disclosure [Abstract] | ||||||||||||
Analysis of the Provision for Income Taxes | An analysis of the provision for income taxes follows: | |||||||||||
Year Ended December 31 | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Current income taxes | ||||||||||||
United States | $ | 350 | $ | 292 | $ | 112 | ||||||
State | 48 | 99 | 15 | |||||||||
Other countries | 387 | 286 | 289 | |||||||||
Total | 785 | 677 | 416 | |||||||||
Deferred income taxes | ||||||||||||
United States | 67 | 85 | 218 | |||||||||
State | (16 | ) | 14 | 36 | ||||||||
Other countries | 20 | 52 | (10 | ) | ||||||||
Total | 71 | 151 | 244 | |||||||||
Total provision for income taxes | $ | 856 | $ | 828 | $ | 660 | ||||||
Income before Income Taxes | Income from continuing operations before income taxes is earned in the following tax jurisdictions: | |||||||||||
Year Ended December 31 | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
United States | $ | 1,571 | $ | 1,557 | $ | 1,223 | ||||||
Other countries | 684 | 1,084 | 887 | |||||||||
Total income before income taxes | $ | 2,255 | $ | 2,641 | $ | 2,110 | ||||||
Deferred Income Tax assets (Liabilities) | Deferred income tax assets and liabilities are composed of the following: | |||||||||||
31-Dec | ||||||||||||
2014 | 2013 | |||||||||||
Deferred tax assets | ||||||||||||
Pension and other postretirement benefits | $ | 883 | $ | 728 | ||||||||
Tax credits and loss carryforwards | 538 | 604 | ||||||||||
Property, plant and equipment, net | 77 | 104 | ||||||||||
Other | 590 | 516 | ||||||||||
2,088 | 1,952 | |||||||||||
Valuation allowance | (215 | ) | (197 | ) | ||||||||
Total deferred assets | 1,873 | 1,755 | ||||||||||
Deferred tax liabilities | ||||||||||||
Pension and other postretirement benefits | 260 | 259 | ||||||||||
Property, plant and equipment, net | 1,162 | 1,244 | ||||||||||
Investments in subsidiaries | 223 | 205 | ||||||||||
Other | 339 | 396 | ||||||||||
Total deferred tax liabilities | 1,984 | 2,104 | ||||||||||
Net deferred tax assets (liabilities) | $ | (111 | ) | $ | (349 | ) | ||||||
Reconciliation of Income Tax Provision | Presented below is a reconciliation of the income tax provision computed at the U.S. federal statutory tax rate to the actual effective tax rate: | |||||||||||
Year Ended December 31 | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
U.S. statutory rate applied to income before income taxes | 35 | % | 35 | % | 35 | % | ||||||
Rate of state income taxes, net of federal tax benefit | 0.7 | 2.7 | 1.6 | |||||||||
Statutory rates other than U.S. statutory rate | (3.0 | ) | (3.0 | ) | (2.8 | ) | ||||||
Venezuela balance sheet remeasurement and inflationary impacts | 4.9 | (0.8 | ) | (0.4 | ) | |||||||
Other - net(a) | 0.4 | (2.5 | ) | (2.1 | ) | |||||||
Effective income tax rate | 38 | % | 31.4 | % | 31.3 | % | ||||||
Unrecognized Income Tax Benefits | Presented below is a reconciliation of the beginning and ending amounts of unrecognized income tax benefits: | |||||||||||
2014 | 2013 | 2012 | ||||||||||
Balance at January 1 | $ | 473 | $ | 435 | $ | 558 | ||||||
Gross increases for tax positions of prior years | 36 | 73 | 30 | |||||||||
Gross decreases for tax positions of prior years | (91 | ) | (31 | ) | (104 | ) | ||||||
Gross increases for tax positions of the current year | 87 | 37 | 52 | |||||||||
Settlements | (77 | ) | (35 | ) | (100 | ) | ||||||
Other | (12 | ) | (6 | ) | (1 | ) | ||||||
Balance at December 31 | $ | 416 | $ | 473 | $ | 435 | ||||||
Summary of Income Tax Examinations | As of December 31, 2014, the following tax years remain subject to examination for the major jurisdictions where we conduct business: | |||||||||||
Jurisdiction | Years | |||||||||||
United States | 2012 to 2014 | |||||||||||
United Kingdom | 2012 to 2014 | |||||||||||
Brazil | 2009 to 2014 | |||||||||||
Korea | 2014 | |||||||||||
China | 2003 to 2014 |
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Earnings Per Share [Abstract] | ||||||||||||
Average Common Shares Outstanding Basic and Diluted | The average number of common shares outstanding is reconciled to those used in the basic and diluted EPS computations as follows: | |||||||||||
(Millions of shares) | 2014 | 2013 | 2012 | |||||||||
Basic | 374.5 | 384 | 393 | |||||||||
Dilutive effect of stock options and restricted share unit awards | 2.9 | 3.3 | 3.1 | |||||||||
Diluted | 377.4 | 387.3 | 396.1 | |||||||||
Options Outstanding not Included in Computation of Diluted EPS | Options outstanding that were not included in the computation of diluted EPS mainly because their exercise price was greater than the average market price of the common shares are summarized below: | |||||||||||
2014 | 2013 | 2012 | ||||||||||
Average number of share equivalents (millions) | 1.1 | 1.1 | 1.1 | |||||||||
Weighted-average exercise price | $ | 107.54 | $ | 103.29 | $ | 78.54 | ||||||
Options outstanding at year-end (millions) | 1.7 | 1.8 | 1.7 | |||||||||
Business_Segment_and_Geographi
Business Segment and Geographic Data Information (Tables) | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||||||||||||||||||
Information Concerning Consolidated Operations by Business Segment | Information concerning consolidated operations by business segment is presented in the following tables: | |||||||||||||||||||||||||||
Consolidated Operations by Business Segment | ||||||||||||||||||||||||||||
Year Ended December 31 | ||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||
NET SALES(a) | ||||||||||||||||||||||||||||
Personal Care | $ | 9,635 | $ | 9,536 | $ | 9,576 | ||||||||||||||||||||||
Consumer Tissue | 6,645 | 6,637 | 6,527 | |||||||||||||||||||||||||
K-C Professional | 3,388 | 3,323 | 3,283 | |||||||||||||||||||||||||
Corporate & Other | 56 | 65 | 81 | |||||||||||||||||||||||||
TOTAL NET SALES | $ | 19,724 | $ | 19,561 | $ | 19,467 | ||||||||||||||||||||||
OPERATING PROFIT(b) | ||||||||||||||||||||||||||||
Personal Care | $ | 1,803 | $ | 1,698 | $ | 1,660 | ||||||||||||||||||||||
Consumer Tissue | 1,062 | 988 | 887 | |||||||||||||||||||||||||
K-C Professional | 604 | 605 | 542 | |||||||||||||||||||||||||
Corporate & Other(c) | (495 | ) | (381 | ) | (717 | ) | ||||||||||||||||||||||
Other (income) and expense, net(c) | 453 | 7 | (5 | ) | ||||||||||||||||||||||||
TOTAL OPERATING PROFIT | $ | 2,521 | $ | 2,903 | $ | 2,377 | ||||||||||||||||||||||
(a) | Net sales in the United States to third parties totaled $8,573, $8,557 and $8,514 in 2014, 2013 and 2012, respectively. | |||||||||||||||||||||||||||
(b) | Segment operating profit excludes other (income) and expense, net and income and expenses not associated with the business segments. | |||||||||||||||||||||||||||
(c) | Corporate & Other and other (income) and expense, net include the following charges: | |||||||||||||||||||||||||||
Year Ended December 31 | ||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||
European | European | European | Pulp and Tissue | Total | ||||||||||||||||||||||||
Strategic | Strategic | Strategic | Restructuring | |||||||||||||||||||||||||
Changes | Changes | Changes | Actions | |||||||||||||||||||||||||
Personal Care | $ | 20 | $ | 36 | $ | 213 | $ | — | $ | 213 | ||||||||||||||||||
Consumer Tissue | 12 | 27 | 66 | 125 | 191 | |||||||||||||||||||||||
K-C Professional | 1 | 13 | 20 | 9 | 29 | |||||||||||||||||||||||
Other (income) and expense, net | — | 5 | — | 1 | 1 | |||||||||||||||||||||||
Total | $ | 33 | $ | 81 | $ | 299 | $ | 135 | $ | 434 | ||||||||||||||||||
Corporate & Other also includes charges related to the 2014 organization restructuring of $133 and a charge of $41 related to the remeasurement of the Venezuelan balance sheet in 2014. In addition, other (income) and expense, net for 2014 includes a charge of $35 related to a regulatory dispute in the Middle East, and for 2014 and 2013 includes charges of $421 and $36 related to the remeasurement of the Venezuelan balance sheet, respectively. | ||||||||||||||||||||||||||||
Personal | Consumer | K-C | Corporate | Ongoing | Health Care | Consolidated | ||||||||||||||||||||||
Care | Tissue | Professional | & Other | Operations | Business | Total | ||||||||||||||||||||||
(Spun-off) | ||||||||||||||||||||||||||||
Depreciation and Amortization | ||||||||||||||||||||||||||||
2014 | $ | 359 | $ | 299 | $ | 132 | $ | 3 | $ | 793 | $ | 69 | $ | 862 | ||||||||||||||
2013 | 332 | 318 | 138 | 4 | 792 | 71 | 863 | |||||||||||||||||||||
2012 | 315 | 331 | 141 | 11 | 798 | 59 | 857 | |||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||
2014 | 6,373 | 5,229 | 2,339 | 1,585 | 15,526 | — | 15,526 | |||||||||||||||||||||
2013 | 6,623 | 5,483 | 2,431 | 2,012 | 16,549 | 2,370 | 18,919 | |||||||||||||||||||||
2012 | 7,014 | 5,531 | 2,739 | 2,058 | 17,342 | 2,531 | 19,873 | |||||||||||||||||||||
Capital Spending | ||||||||||||||||||||||||||||
2014 | 501 | 314 | 143 | 6 | 964 | 75 | 1,039 | |||||||||||||||||||||
2013 | 461 | 328 | 118 | 2 | 909 | 44 | 953 | |||||||||||||||||||||
2012 | 551 | 352 | 116 | 32 | 1,051 | 42 | 1,093 | |||||||||||||||||||||
Sales of Principal Products | ||||||||||||||||||||||||||||
(Billions of dollars) | 2014 | 2013 | 2012 | |||||||||||||||||||||||||
Consumer tissue products | $ | 6.6 | $ | 6.6 | $ | 6.5 | ||||||||||||||||||||||
Baby and child care products | 7 | 7 | 7.1 | |||||||||||||||||||||||||
Away-from-home professional products | 3.4 | 3.3 | 3.3 | |||||||||||||||||||||||||
All other | 2.7 | 2.7 | 2.6 | |||||||||||||||||||||||||
Consolidated | $ | 19.7 | $ | 19.6 | $ | 19.5 | ||||||||||||||||||||||
Supplemental_Data_Tables
Supplemental Data (Tables) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Supplemental Income Statement Data | Supplemental Income Statement Data | |||||||||||||||||||||||
Year Ended December 31 | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Advertising expense | $ | 767 | $ | 769 | $ | 804 | ||||||||||||||||||
Research expense | 368 | 333 | 335 | |||||||||||||||||||||
Equity Method Investments Data | Equity Companies' Data | |||||||||||||||||||||||
Net | Gross | Operating | Net | Corporation's | ||||||||||||||||||||
Sales | Profit | Profit | Income | Share of Net | ||||||||||||||||||||
Income | ||||||||||||||||||||||||
2014 | $ | 2,452 | $ | 781 | $ | 485 | $ | 304 | $ | 146 | ||||||||||||||
2013 | 2,638 | 950 | 642 | 426 | 205 | |||||||||||||||||||
2012 | 2,514 | 864 | 567 | 368 | 177 | |||||||||||||||||||
Current | Non- | Current | Non- | Stockholders' | ||||||||||||||||||||
Assets | Current | Liabilities | Current | Equity | ||||||||||||||||||||
Assets | Liabilities | |||||||||||||||||||||||
2014 | $ | 1,016 | $ | 1,040 | $ | 690 | $ | 963 | $ | 403 | ||||||||||||||
2013 | 1,197 | 1,124 | 847 | 845 | 629 | |||||||||||||||||||
2012 | 1,054 | 1,068 | 712 | 837 | 573 | |||||||||||||||||||
Supplemental Cash Flow Data | Supplemental Cash Flow Statement Data | |||||||||||||||||||||||
Summary of Cash Flow Effects of Decrease (Increase) in Operating Working Capital | Year Ended December 31 | |||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Accounts receivable | $ | 267 | $ | 4 | $ | (38 | ) | |||||||||||||||||
Inventories | 12 | 100 | 9 | |||||||||||||||||||||
Trade accounts payable | (30 | ) | 128 | 45 | ||||||||||||||||||||
Accrued expenses | (120 | ) | (177 | ) | 133 | |||||||||||||||||||
Accrued income taxes | (159 | ) | (90 | ) | 13 | |||||||||||||||||||
Derivatives | 103 | 5 | (86 | ) | ||||||||||||||||||||
Currency and other | (249 | ) | (128 | ) | 43 | |||||||||||||||||||
Total | $ | (176 | ) | $ | (158 | ) | $ | 119 | ||||||||||||||||
Year Ended December 31 | ||||||||||||||||||||||||
Other Cash Flow Data | 2014 | 2013 | 2012 | |||||||||||||||||||||
Interest paid | $ | 300 | $ | 307 | $ | 299 | ||||||||||||||||||
Income taxes paid | 926 | 776 | 451 | |||||||||||||||||||||
Accounts Receivable, Net [Member] | ||||||||||||||||||||||||
Supplemental Balance Sheet Data | ||||||||||||||||||||||||
December 31 | ||||||||||||||||||||||||
Summary of Accounts Receivable, Net | 2014 | 2013 | ||||||||||||||||||||||
From customers | $ | 2,079 | $ | 2,345 | ||||||||||||||||||||
Other | 210 | 271 | ||||||||||||||||||||||
Less allowance for doubtful accounts and sales discounts | (66 | ) | (71 | ) | ||||||||||||||||||||
Total | $ | 2,223 | $ | 2,545 | ||||||||||||||||||||
Inventories [Member] | ||||||||||||||||||||||||
Supplemental Balance Sheet Data | ||||||||||||||||||||||||
December 31 | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Summary of Inventories by Major Class | LIFO | Non- | Total | LIFO | Non- | Total | ||||||||||||||||||
LIFO | LIFO | |||||||||||||||||||||||
At the lower of cost, determined on the FIFO or weighted-average cost methods, or market | ||||||||||||||||||||||||
Raw materials | $ | 104 | $ | 322 | $ | 426 | $ | 143 | $ | 319 | $ | 462 | ||||||||||||
Work in process | 120 | 95 | 215 | 189 | 97 | 286 | ||||||||||||||||||
Finished goods | 511 | 672 | 1,183 | 648 | 753 | 1,401 | ||||||||||||||||||
Supplies and other | — | 288 | 288 | — | 326 | 326 | ||||||||||||||||||
735 | 1,377 | 2,112 | 980 | 1,495 | 2,475 | |||||||||||||||||||
Excess of FIFO or weighted-average cost over LIFO cost | (220 | ) | — | (220 | ) | (242 | ) | — | (242 | ) | ||||||||||||||
Total | $ | 515 | $ | 1,377 | $ | 1,892 | $ | 738 | $ | 1,495 | $ | 2,233 | ||||||||||||
Property, Plant and Equipment, Net [Member] | ||||||||||||||||||||||||
Supplemental Balance Sheet Data | ||||||||||||||||||||||||
December 31 | ||||||||||||||||||||||||
Summary of Property, Plant and Equipment, Net | 2014 | 2013 | ||||||||||||||||||||||
Land | $ | 177 | $ | 196 | ||||||||||||||||||||
Buildings | 2,574 | 2,776 | ||||||||||||||||||||||
Machinery and equipment | 13,437 | 14,193 | ||||||||||||||||||||||
Construction in progress | 591 | 515 | ||||||||||||||||||||||
16,779 | 17,680 | |||||||||||||||||||||||
Less accumulated depreciation | (9,420 | ) | (9,732 | ) | ||||||||||||||||||||
Total | $ | 7,359 | $ | 7,948 | ||||||||||||||||||||
Accrued Liabilities [Member] | ||||||||||||||||||||||||
Supplemental Balance Sheet Data | ||||||||||||||||||||||||
December 31 | ||||||||||||||||||||||||
Summary of Accrued Expenses | 2014 | 2013 | ||||||||||||||||||||||
Accrued advertising and promotion | $ | 326 | $ | 355 | ||||||||||||||||||||
Accrued salaries and wages | 415 | 471 | ||||||||||||||||||||||
Accrued rebates | 258 | 358 | ||||||||||||||||||||||
Accrued taxes - income and other | 330 | 336 | ||||||||||||||||||||||
Derivatives | 113 | 44 | ||||||||||||||||||||||
Other | 532 | 496 | ||||||||||||||||||||||
Total | $ | 1,974 | $ | 2,060 | ||||||||||||||||||||
Other Cash Flow Data and Interest Expense [Member] | ||||||||||||||||||||||||
Supplemental Cash Flow Data | ||||||||||||||||||||||||
Year Ended December 31 | ||||||||||||||||||||||||
Other Cash Flow Data | 2014 | 2013 | 2012 | |||||||||||||||||||||
Interest paid | $ | 300 | $ | 307 | $ | 299 | ||||||||||||||||||
Income taxes paid | 926 | 776 | 451 | |||||||||||||||||||||
Valuation_and_Qualifying_Accou1
Valuation and Qualifying Accounts (Tables) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||
Valuation and Qualifying Accounts [Abstract] | ||||||||||||||||||||
Schedule of Valuation and Qualifying Accounts [Table Text Block] | KIMBERLY-CLARK CORPORATION AND SUBSIDIARIES | |||||||||||||||||||
SCHEDULE II | ||||||||||||||||||||
VALUATION AND QUALIFYING ACCOUNTS | ||||||||||||||||||||
FOR THE YEARS ENDED DECEMBER 31, 2014, 2013 AND 2012 | ||||||||||||||||||||
(Millions of dollars) | ||||||||||||||||||||
Description | Balance at | Additions | Deductions | |||||||||||||||||
Beginning | ||||||||||||||||||||
of Period | Charged to | Charged to | Write-Offs and | Balance | ||||||||||||||||
Costs and | Other | Reclassifications | at End of | |||||||||||||||||
Expenses | Accounts(a) | Period | ||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||
Allowances deducted from assets to which they apply | ||||||||||||||||||||
Allowance for doubtful accounts | $ | 51 | $ | 13 | $ | (7 | ) | $ | 7 | (b) | $ | 50 | ||||||||
Allowances for sales discounts | 20 | 265 | (1 | ) | 268 | (c) | 16 | |||||||||||||
December 31, 2013 | ||||||||||||||||||||
Allowances deducted from assets to which they apply | ||||||||||||||||||||
Allowance for doubtful accounts | $ | 60 | $ | — | $ | (4 | ) | $ | 5 | (b) | $ | 51 | ||||||||
Allowances for sales discounts | 20 | 275 | (1 | ) | 274 | (c) | 20 | |||||||||||||
December 31, 2012 | ||||||||||||||||||||
Allowances deducted from assets to which they apply | ||||||||||||||||||||
Allowance for doubtful accounts | $ | 57 | $ | 9 | $ | — | $ | 6 | (b) | $ | 60 | |||||||||
Allowances for sales discounts | 21 | 280 | — | 281 | (c) | 20 | ||||||||||||||
(a) | Includes bad debt recoveries and the effects of changes in foreign currency exchange rates. | |||||||||||||||||||
(b) | Primarily uncollectible receivables written off. | |||||||||||||||||||
(c) | Sales discounts allowed. | |||||||||||||||||||
Additions | ||||||||||||||||||||
Description | Balance at | Charged to | Charged to | Deductions(a) | Balance | |||||||||||||||
Beginning | Costs and | Other | at End | |||||||||||||||||
of Period | Expenses | Accounts | of Period | |||||||||||||||||
December 31, 2014 | ||||||||||||||||||||
Deferred taxes | ||||||||||||||||||||
Valuation allowance | $ | 197 | $ | 30 | $ | — | $ | 12 | $ | 215 | ||||||||||
December 31, 2013 | ||||||||||||||||||||
Deferred taxes | ||||||||||||||||||||
Valuation allowance | $ | 215 | $ | (11 | ) | $ | — | $ | 7 | $ | 197 | |||||||||
December 31, 2012 | ||||||||||||||||||||
Deferred taxes | ||||||||||||||||||||
Valuation allowance | $ | 229 | $ | (18 | ) | $ | — | $ | (4 | ) | $ | 215 | ||||||||
(a) | Represents the net currency effects of translating valuation allowances at current rates of exchange. |
Accounting_Policies_Narrative_
Accounting Policies (Narrative) (Details) (USD $) | 3 Months Ended | 12 Months Ended | 33 Months Ended | ||
In Millions, unless otherwise specified | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Feb. 01, 2013 |
Non-deductible remeasurement charge in the Consolidated Income Statement | ($462) | -36 | 0 | ||
K-C Venezuela [Member] | |||||
Central Bank system rate | 6.3 | 5.4 | |||
Devaluation after-tax charge | 26 | ||||
Devaluation pre-tax charge | 36 | ||||
Venezuela effective exchange rate | 6.3 | ||||
SICAD 2 exchange rate | 50 | ||||
Non-deductible remeasurement charge in the Consolidated Income Statement | 462 | ||||
Bolivar-denominated net monetary asset position | 59 | ||||
Net investment in K-C Venezuela | 152 | ||||
K-C Venezuela net sales as a percentage of consolidated net sales | 3.00% | 2.00% | 2.00% | ||
Trademarks [Member] | Minimum [Member] | |||||
Intangible assets estimated useful life | 2 years | ||||
Trademarks [Member] | Maximum [Member] | |||||
Intangible assets estimated useful life | 20 years | ||||
Patents and developed technologies [Member] | Minimum [Member] | |||||
Intangible assets estimated useful life | 5 years | ||||
Patents and developed technologies [Member] | Maximum [Member] | |||||
Intangible assets estimated useful life | 15 years | ||||
Other [Member] | Minimum [Member] | |||||
Intangible assets estimated useful life | 5 years | ||||
Other [Member] | Maximum [Member] | |||||
Intangible assets estimated useful life | 15 years | ||||
Building [Member] | |||||
Estimated useful life | 40 years | ||||
Machinery and Equipment [Member] | Minimum [Member] | |||||
Estimated useful life | 16 years | ||||
Machinery and Equipment [Member] | Maximum [Member] | |||||
Estimated useful life | 20 years | ||||
Software [Member] | |||||
Estimated useful life | 5 years | ||||
Other Income [Member] | K-C Venezuela [Member] | |||||
Non-deductible remeasurement charge in the Consolidated Income Statement | 421 | 36 | |||
Cost of Sales [Member] | K-C Venezuela [Member] | |||||
Non-deductible remeasurement charge in the Consolidated Income Statement | $41 |
Spinoff_of_Health_Care_Busines2
Spinoff of Health Care Business and Related Costs - Narrative (Details) (Health Care Spin-off [Member], USD $) | 10 Months Ended | 12 Months Ended | |
In Millions, except Share data, unless otherwise specified | Oct. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Health Care Spin-off [Member] | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Number of shares of common stock for one share of Halyard common stock | 8 | ||
Corporate costs allocated to the health care segment retained in continuing operations | $70 | $85 | $85 |
Transaction and related costs, pre-tax | 157 | ||
Transaction and related costs, after-tax | $138 |
Spinoff_of_Health_Care_Busines3
Spinoff of Health Care Business and Related Costs - Results of Operations (Details) (Health Care Spin-off [Member], USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Health Care Spin-off [Member] | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Net sales | $1,320 | $1,591 | $1,596 |
Income before income taxes | 130 | 304 | 310 |
Provision for income taxes | -80 | -101 | -109 |
Net income | $50 | $203 | $201 |
Spinoff_of_Health_Care_Busines4
Spinoff of Health Care Business and Related Costs - Assets and Liabilities (Details) (Health Care Spin-off [Member], USD $) | Oct. 31, 2014 |
In Millions, unless otherwise specified | |
Health Care Spin-off [Member] | |
Assets | |
Cash | $120 |
Accounts receivable, net | 37 |
Inventories | 289 |
Property, plant and equipment, net | 271 |
Goodwill | 1,429 |
Other intangible assets | 114 |
Other assets | 66 |
Total Assets | 2,326 |
Liabilities | |
Accrued expenses | 127 |
Debt | 636 |
Deferred income taxes | 60 |
Other liabilities | 7 |
Total Liabilities | 830 |
Net Assets Transferred in the Spin-Off | $1,496 |
2014_Organization_Restructurin2
2014 Organization Restructuring Narrative (Details) (USD $) | 12 Months Ended | 3 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2014 |
Restructuring Cost and Reserve | |||
Restructuring charges | $434 | ||
2014 Organization Restructuring [Member] | |||
Restructuring Cost and Reserve | |||
Expected cash costs as a percentage of total restructuring charges | 80.00% | ||
2014 Organization Restructuring [Member] | North America [Member] | |||
Restructuring Cost and Reserve | |||
Restructuring charges | 47 | ||
2014 Organization Restructuring [Member] | Europe [Member] | |||
Restructuring Cost and Reserve | |||
Restructuring charges | 28 | ||
2014 Organization Restructuring [Member] | International [Member] | |||
Restructuring Cost and Reserve | |||
Restructuring charges | 58 | ||
2014 Organization Restructuring [Member] | Before Tax [Member] | |||
Restructuring Cost and Reserve | |||
Restructuring charges | 133 | ||
2014 Organization Restructuring [Member] | Minimum [Member] | |||
Restructuring Cost and Reserve | |||
Expected restructuring costs | 130 | ||
Expected workforce reductions (number of employees) | 1,100 | ||
2014 Organization Restructuring [Member] | Minimum [Member] | Before Tax [Member] | |||
Restructuring Cost and Reserve | |||
Expected restructuring costs | 190 | ||
2014 Organization Restructuring [Member] | Maximum [Member] | |||
Restructuring Cost and Reserve | |||
Expected restructuring costs | 160 | ||
Expected workforce reductions (number of employees) | 1,300 | ||
2014 Organization Restructuring [Member] | Maximum [Member] | Before Tax [Member] | |||
Restructuring Cost and Reserve | |||
Expected restructuring costs | 230 |
2014_Organization_Restructurin3
2014 Organization Restructuring Tables (Details) (USD $) | 12 Months Ended | 3 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 |
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring charges | $434 | |||
Provision for income taxes | 856 | 828 | 660 | |
2014 Organization Restructuring [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Provision for income taxes | -38 | |||
Net charges | 95 | |||
2014 Organization Restructuring [Member] | Cost of products sold [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring charges | 40 | |||
2014 Organization Restructuring [Member] | Marketing, research and general Expenses [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring charges | $93 |
European_Strategic_Changes_Nar
European Strategic Changes (Narrative) (Details) (USD $) | 12 Months Ended | 26 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 |
European Strategic Changes [Member] | ||||
Restructuring Cost and Reserve | ||||
Cash payments | $41 | $156 | $4 | |
European Strategic Changes [Member] | ||||
Restructuring Cost and Reserve | ||||
Sale or closure of European manufacturing facilities | 5 |
European_Strategic_Changes_Cha
European Strategic Changes - Charges Incurred (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Restructuring Cost and Reserve | |||
Restructuring charges | $434 | ||
Provision for income taxes | 856 | 828 | 660 |
European Strategic Changes [Member] | |||
Restructuring Cost and Reserve | |||
Restructuring charges | 33 | 81 | 299 |
Provision for income taxes | -3 | -15 | -57 |
Net charges | 30 | 66 | 242 |
European Strategic Changes [Member] | Cost of Sales [Member] | |||
Restructuring Cost and Reserve | |||
Restructuring charges | 11 | 54 | 250 |
European Strategic Changes [Member] | Charges for workforce reductions and other exit costs included in marketing, research and general expenses and other (income) and expense, net | |||
Restructuring Cost and Reserve | |||
Restructuring charges | 22 | 27 | 49 |
European Strategic Changes [Member] | Asset impairments and other asset-related charges | Cost of Sales [Member] | |||
Restructuring Cost and Reserve | |||
Restructuring charges | 2 | 53 | 165 |
European Strategic Changes [Member] | Charges for workforce reductions | Cost of Sales [Member] | |||
Restructuring Cost and Reserve | |||
Restructuring charges | -5 | 10 | 77 |
European Strategic Changes [Member] | Benefit from pension curtailment | Cost of Sales [Member] | |||
Restructuring Cost and Reserve | |||
Restructuring charges | 0 | -31 | 0 |
European Strategic Changes [Member] | Other exit costs | Cost of Sales [Member] | |||
Restructuring Cost and Reserve | |||
Restructuring charges | $14 | $22 | $8 |
Pulp_and_Tissue_Narrative_Deta
Pulp and Tissue Narrative (Details) (USD $) | 12 Months Ended | 23 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 |
Restructuring Cost and Reserve | ||||
Restructuring charges | ($434) | |||
Provision for income taxes | 856 | 828 | 660 | |
Pulp And Tissue Restructuring [Member] | ||||
Restructuring Cost and Reserve | ||||
Sale or closure of manufacturing facilities around the world | 7 | |||
Restructuring charges | -135 | -550 | ||
Restructuring charges after tax | 375 | |||
Provision for income taxes | -49 | |||
Pulp And Tissue Restructuring [Member] | Cost of products sold [Member] | ||||
Restructuring Cost and Reserve | ||||
Restructuring charges | ($135) |
Fair_Value_Information_Narrati
Fair Value Information Narrative (Details) (Fair Value, Inputs, Level 2 [Member], Fair Value, Measurements, Recurring [Member], USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ||
Company-owned life insurance (COLI) | $58 | $55 |
Derivative assets | 54 | 62 |
Derivative liabilities | $116 | $49 |
Fair_Value_Information_Fair_Va
Fair Value Information (Fair Value of Financial Instruments) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | ||
In Millions, unless otherwise specified | ||||
Fair Value, Inputs, Level 1 [Member] | Carrying Amount [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | ||||
Cash and cash equivalents | $789 | [1] | $1,054 | [1] |
Time deposits | 130 | [2] | 222 | [2] |
Fair Value, Inputs, Level 1 [Member] | Estimated Fair Value [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | ||||
Cash and cash equivalents | 789 | [1] | 1,054 | [1] |
Time deposits | 130 | [2] | 222 | [2] |
Fair Value, Inputs, Level 2 [Member] | Carrying Amount [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | ||||
Short-term debt | 777 | [3] | 63 | [3] |
Long-term debt | 6,179 | [4] | 5,698 | [4] |
Fair Value, Inputs, Level 2 [Member] | Estimated Fair Value [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | ||||
Short-term debt | 777 | [3] | 63 | [3] |
Long-term debt | 6,963 | [4] | 6,721 | [4] |
Fair Value, Inputs, Level 3 [Member] | Carrying Amount [Member] | Preferred securities [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | ||||
Redeemable securities of subsidiaries | 72 | [5] | 578 | [5] |
Fair Value, Inputs, Level 3 [Member] | Estimated Fair Value [Member] | Preferred securities [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | ||||
Redeemable securities of subsidiaries | $72 | [5] | $598 | [5] |
[1] | Cash equivalents are composed of certificates of deposit, time deposits and other interest-bearing investments with original maturity dates of 90 days or less. Cash equivalents are recorded at cost, which approximates fair value. | |||
[2] | Time deposits are composed of deposits with original maturities of more than 90 days but less than one year and instruments with original maturities of greater than one year, included in other current assets or other assets in the Consolidated Balance Sheet, as appropriate. Time deposits are recorded at cost, which approximates fair value. | |||
[3] | Short-term debt is composed of U.S. commercial paper and/or other similar short-term debt issued by non-U.S. subsidiaries, all of which are recorded at cost, which approximates fair value. | |||
[4] | Long-term debt includes the current portion of these debt instruments. Fair values were estimated based on quoted prices for financial instruments for which all significant inputs were observable, either directly or indirectly. | |||
[5] | The redeemable securities of subsidiaries are not traded in active markets. For certain instruments, fair values were calculated using a floating rate pricing model that compared the stated spread to the fair value spread to determine the price at which each of the financial instruments should trade. The model used the following inputs to calculate fair values: face value, current LIBOR rate, unobservable fair value credit spread, stated spread, maturity date and interest or dividend payment dates. Additionally, the fair value of the remaining redeemable securities was based on various inputs, including an independent third-party appraisal, adjusted for current market conditions. |
Acquisitions_and_Intangible_As2
Acquisitions and Intangible Assets (Changes in the Carrying Amount of Goodwill) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Goodwill [Roll Forward] | ||
Goodwill, Beginning Balance | $3,181 | $3,337 |
Acquisitions | 9 | |
Currency and other | -124 | -165 |
Spin-off of health care business | 1,429 | |
Goodwill, Ending Balance | 1,628 | 3,181 |
Personal Care [Member] | ||
Goodwill [Roll Forward] | ||
Goodwill, Beginning Balance | 684 | 764 |
Acquisitions | 6 | |
Currency and other | -59 | -86 |
Spin-off of health care business | 0 | |
Goodwill, Ending Balance | 625 | 684 |
Consumer Tissue [Member] | ||
Goodwill [Roll Forward] | ||
Goodwill, Beginning Balance | 641 | 695 |
Acquisitions | 0 | |
Currency and other | -47 | -54 |
Spin-off of health care business | 0 | |
Goodwill, Ending Balance | 594 | 641 |
K-C Professional and Other [Member] | ||
Goodwill [Roll Forward] | ||
Goodwill, Beginning Balance | 424 | 442 |
Acquisitions | 0 | |
Currency and other | -15 | -18 |
Spin-off of health care business | 0 | |
Goodwill, Ending Balance | 409 | 424 |
Health Care [Member] | ||
Goodwill [Roll Forward] | ||
Goodwill, Beginning Balance | 1,432 | 1,436 |
Acquisitions | 3 | |
Currency and other | -3 | -7 |
Spin-off of health care business | 1,429 | |
Goodwill, Ending Balance | $0 | $1,432 |
Acquisitions_and_Intangible_As3
Acquisitions and Intangible Assets (Other Intangible Assets) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Indefinite-lived Intangible Assets | ||
Gross Carrying Amount | $230 | $546 |
Accumulated Amortization | 121 | 310 |
Trademarks [Member] | ||
Indefinite-lived Intangible Assets | ||
Gross Carrying Amount | 117 | 252 |
Accumulated Amortization | 79 | 163 |
Patents and developed technologies [Member] | ||
Indefinite-lived Intangible Assets | ||
Gross Carrying Amount | 49 | 201 |
Accumulated Amortization | 9 | 85 |
Other [Member] | ||
Indefinite-lived Intangible Assets | ||
Gross Carrying Amount | 64 | 93 |
Accumulated Amortization | $33 | $62 |
Debt_LongTerm_Debt_Details
Debt (Long-Term Debt) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Debt Instrument [Line Items] | ||
Total long-term debt | $6,179 | $5,698 |
Less current portion | 549 | 312 |
Long-term portion | 5,630 | 5,386 |
Notes and Debentures [Member] | ||
Debt Instrument [Line Items] | ||
Weighted- Average Interest Rate | 4.70% | |
Maturities (start) | 1-Jan-15 | |
Maturities (end) | 31-Dec-43 | |
Total long-term debt | 5,656 | 5,163 |
Dealer Remarketable Securities [Member] | ||
Debt Instrument [Line Items] | ||
Weighted- Average Interest Rate | 4.30% | |
Maturities (start) | 1-Jan-15 | |
Maturities (end) | 31-Dec-16 | |
Total long-term debt | 200 | 200 |
Industrial Development Revenue Bonds [Member] | ||
Debt Instrument [Line Items] | ||
Weighted- Average Interest Rate | 0.20% | |
Maturities (start) | 1-Jan-15 | |
Maturities (end) | 31-Dec-34 | |
Total long-term debt | 261 | 261 |
Bank Loans And Other Financings In Various Currencies [Member] | ||
Debt Instrument [Line Items] | ||
Weighted- Average Interest Rate | 5.80% | |
Maturities (start) | 1-Jan-15 | |
Maturities (end) | 31-Dec-25 | |
Total long-term debt | $62 | $74 |
Debt_Narrative_Details
Debt (Narrative) (Details) (USD $) | 12 Months Ended | ||||
Dec. 31, 2013 | Dec. 31, 2006 | Dec. 31, 2014 | Dec. 31, 2012 | Sep. 30, 2013 | |
Debt Instrument [Line Items] | |||||
Scheduled maturity of long-term debt in 2015 | 549,000,000 | ||||
Scheduled maturity of long-term debt in 2016 | 607,000,000 | ||||
Scheduled maturity of long-term debt in 2017 | 963,000,000 | ||||
Scheduled maturity of long-term debt in 2018 | 905,000,000 | ||||
Scheduled maturity of long-term debt in 2019 | 311,000,000 | ||||
Expiring 2019 [Member] | |||||
Debt Instrument [Line Items] | |||||
Revolving credit facility | 2,000,000,000 | ||||
Expiration date of revolving credit facility | 30-Jun-19 | ||||
Expired 2014 [Member] | |||||
Debt Instrument [Line Items] | |||||
Revolving credit facility | 1,500,000,000 | ||||
Dealer Remarketable Securities [Member] | |||||
Debt Instrument [Line Items] | |||||
Face amount of note | 200,000,000 | ||||
Debt maturity date | 31-Dec-16 | ||||
Aggregate principle amount due October 15, 2022 [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt issuance date | 17-Oct-14 | ||||
Health Care Spin-off [Member] | |||||
Debt Instrument [Line Items] | |||||
Face amount of note | 640,000,000 | ||||
Floating rate note due May 19, 2016 [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt issuance date | 22-May-14 | ||||
Face amount of note | 300,000,000 | ||||
Debt maturity date | 19-May-16 | ||||
1.9% Notes due May 22, 2019 [Member] | |||||
Debt Instrument [Line Items] | |||||
Face amount of note | 300,000,000 | ||||
Debt maturity date | 22-May-19 | ||||
Interest rate of note | 1.90% | ||||
Floating Rate Notes Due May 15, 2016 [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt issuance date | 31-May-13 | ||||
Face amount of note | 250,000,000 | ||||
Debt maturity date | 15-May-16 | ||||
2.4% Notes Due June 1, 2023 [Member] | |||||
Debt Instrument [Line Items] | |||||
Face amount of note | 350,000,000 | ||||
Debt maturity date | 1-Jun-23 | ||||
Interest rate of note | 2.40% | ||||
3.7% Notes Due June 1, 2043 [Member] | |||||
Debt Instrument [Line Items] | |||||
Face amount of note | 250,000,000 | ||||
Debt maturity date | 1-Jun-43 | ||||
Interest rate of note | 3.70% | ||||
5% Notes Due August 15, 2013 [Member] | |||||
Debt Instrument [Line Items] | |||||
Face amount of note | 500,000,000 | ||||
Debt maturity date | 15-Aug-13 | ||||
Interest rate of note | 5.00% | ||||
2.4% Notes Due March 21, 2022 [Member] | |||||
Debt Instrument [Line Items] | |||||
Face amount of note | $300,000,000 | ||||
Debt maturity date | 1-Mar-22 | ||||
Interest rate of note | 2.40% |
Redeemable_Preferred_and_Commo1
Redeemable Preferred and Common Securities of Subsidiaries (Narratives) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Redeemable Noncontrolling Interest [Line Items] | |||
Return on redeemable preferred securities and noncontrolling interests and other | $26 | $27 | $27 |
Preferred Securities Class A-2 [Member] | |||
Redeemable Noncontrolling Interest [Line Items] | |||
Redemption value of preferred securities | $500 |
StockBased_Compensation_Narrat
Stock-Based Compensation (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Share-based Compensation Arrangement by Share-based Payment Award | |||
Shares of common stock available for grants | 22 | ||
Stock-based compensation | $52 | $92 | $67 |
Deferred income tax benefits on stock-based compensation | 19 | 35 | 20 |
Weighted-average fair value of options granted | $7.89 | $7.15 | $3.25 |
Excess tax benefits | 37 | 50 | 50 |
Stock Options [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award | |||
Stock options term, years | 10 years | ||
Vesting percentage at the end of each of the first two 12 months period | 30.00% | ||
Vesting percentage at the end of third 12 months period | 40.00% | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | 79 | 138 | 161 |
Restricted share units [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award | |||
Restricted shares vesting period | 3 years | ||
Performance-based restricted share units [Member] | Minimum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award | |||
Performance-based share units vesting range, percentage | 0 | ||
Performance-based restricted share units [Member] | Maximum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award | |||
Performance-based share units vesting range, percentage | 2 | ||
Restricted Share Units [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award | |||
Total fair value of restricted shares and restricted share units | $102 | $45 | $101 |
StockBased_Compensation_Schedu
Stock-Based Compensation (Schedule of Assumptions Used to Estimate Weighted-Average Fair Value of Options Granted) (Details) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract] | |||
Dividend yield | 3.50% | 3.70% | 4.50% |
Volatility | 13.41% | 15.40% | 12.86% |
Risk-free interest rate | 1.73% | 0.87% | 1.08% |
Expected lifebyears | 5 years | 5 years 1 month 6 days | 5 years 9 months 18 days |
StockBased_Compensation_Schedu1
Stock-Based Compensation (Schedule of Unrecognized Compensation Costs and Amortization Periods) (Details) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2014 |
Stock Options [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award | |
Total remaining unrecognized compensation costs, nonvested stock options | $8 |
Weighted- Average Service Years | 1 year |
Restricted share units [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award | |
Total remaining unrecognized compensation costs, nonvested awards other than options | 5 |
Weighted- Average Service Years | 6 months |
Performance-based restricted share units [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award | |
Total remaining unrecognized compensation costs, nonvested awards other than options | $44 |
Weighted- Average Service Years | 1 year 2 months 12 days |
StockBased_Compensation_Schedu2
Stock-Based Compensation (Schedule of Stock-Based Compensation Activity) (Details) (Employee Stock Option [Member], USD $) | 12 Months Ended |
In Millions, except Share data in Thousands, unless otherwise specified | Dec. 31, 2014 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | |
Outstanding at January 1, 2014, shares | 7,223 |
Granted, shares | 1,798 |
Exercised, shares | -1,860 |
Forfeited or expired, shares | -506 |
Outstanding at December 31, 2014, shares | 6,961 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract] | |
Outstanding at January 1, Weighted-Average Exercise Price | $75.77 |
Granted, Weighted-Average Exercise Price | $112 |
Exercised, Weighted-Average Exercise Price | $68.02 |
Forfeited or expired, Weighted-Average Exercise Price | $97.57 |
Outstanding at December 31, Weighted-Average Exercise Price | $82.32 |
Exercisable at December 31, 2014, shares | 3,846 |
Exercisable at December 31, Weighted-Average Exercise Price | $68.26 |
Outstanding at December 31, Weighted-Average Remaining Contractual Term | 6 years 6 months 4 days |
Exercisable at December 31, Weighted-Average Remaining Contractual Term | 4 years 9 months 4 days |
Outstanding at December 31, Aggregate Intrinsic Value | $231 |
Exercisable at December 31, Aggregate Intrinsic Value | $182 |
Health Care Spin-off [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | |
Conversion for spin-off of health care business, shares | 306 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract] | |
Conversion for spin-off of health care business, Weighted-Average Exercise Price | $82.26 |
StockBased_Compensation_Schedu3
Stock-Based Compensation (Schedule of Other Stock-Based Awards Activity) (Details) (USD $) | 12 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2014 |
Time-Vested Restricted Share Units [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |
Nonvested at January 1, 2014, shares | 257 |
Granted, shares | 73 |
Vested, shares | -70 |
Forfeited, shares | -38 |
Nonvested at December 31, 2014, shares | 244 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract] | |
Nonvested at January 1, 2013, Weighted-Average Grant-Date Fair Value | $81.38 |
Granted, Weighted-Average Grant-Date Fair Value | $100.95 |
Vested, Weighted-Average Grant-Date Fair Value | $81.97 |
Forfeited, Weighted-Average Grant-Date Fair Value | $84.01 |
Nonvested at December 31, 2013, Weighted-Average Grant-Date Fair Value | $86.34 |
Time-Vested Restricted Share Units [Member] | Health Care Spin-off [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |
Dividend equivalent for spin-off of health care business, shares | 22 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract] | |
Dividend equivalent for spin-off of health care business, Weighted-Average Grant-Date Fair Value | $78.04 |
Performance-Based Restricted Share Units [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |
Nonvested at January 1, 2014, shares | 2,083 |
Granted, shares | 842 |
Vested, shares | -894 |
Forfeited, shares | -301 |
Nonvested at December 31, 2014, shares | 1,809 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract] | |
Nonvested at January 1, 2013, Weighted-Average Grant-Date Fair Value | $79.98 |
Granted, Weighted-Average Grant-Date Fair Value | $111.77 |
Vested, Weighted-Average Grant-Date Fair Value | $65.02 |
Forfeited, Weighted-Average Grant-Date Fair Value | $94.73 |
Nonvested at December 31, 2013, Weighted-Average Grant-Date Fair Value | $96.35 |
Performance-Based Restricted Share Units [Member] | Health Care Spin-off [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |
Dividend equivalent for spin-off of health care business, shares | 79 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract] | |
Dividend equivalent for spin-off of health care business, Weighted-Average Grant-Date Fair Value | $95.80 |
Employee_Postretirement_Benefi2
Employee Postretirement Benefits (Narrative) (Details) (USD $) | 12 Months Ended | |||
In Millions, unless otherwise specified | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Defined Benefit Plan, Health Care Cost Trend Rate Assumed for Next Fiscal Year | 6.30% | |||
Defined Benefit Plan, Health Care Cost Trend Rate Assumed For Fifth Succeeding Fiscal Year | 5.10% | |||
Projected benefit obligation (bPBOb) | $6,860 | $6,164 | ||
Fair value of plan assets | 5,914 | 5,567 | ||
Defined Benefit Plan, Significant Concentrations of Risk | there were no significant concentrations of equity or debt securities in any single issuer or industry. | |||
Defined Benefit Pension [Member] | ||||
Fair value of plan assets | 5,914 | 5,567 | 5,375 | |
Weighted-average expected long-term rate or return | 5.21% | 5.98% | 6.26% | 6.49% |
Defined Benefit Plan, Estimated Future Employer Contributions in Next Fiscal Year | 100 | |||
Defined Benefit Pension [Member] | UNITED STATES | ||||
Projected benefit obligation (bPBOb) | 4,432 | 3,866 | ||
Fair value of plan assets | 3,757 | 3,565 | ||
Principal Plans [Member] | ||||
Projected benefit obligation (bPBOb) | 6,312 | 5,640 | ||
Fair value of plan assets | 5,559 | 5,205 | ||
Weighted-average expected long-term rate or return | 5.35% | 6.16% | 6.43% | |
Equity Securities [Member] | ||||
Defined Benefit Plan, Target Plan Asset Allocations | 25.00% | |||
Fixed Income Funds [Member] | ||||
Defined Benefit Plan, Target Plan Asset Allocations | 75.00% | |||
All Other [Member] | Principal Plans [Member] | ||||
Fair value of plan assets | 29 | |||
Equity Option [Member] | Principal Plans [Member] | ||||
Derivative, Notional Amount | 950 | |||
Treasury Futures [Member] | Principal Plans [Member] | ||||
Derivative, Notional Amount | 510 | |||
Treasury and Equity Futures [Member] | Principal Plans [Member] | ||||
Derivative, Notional Amount | $320 |
Employee_Postretirement_Benefi3
Employee Postretirement Benefits (Summarized Financial Information about Postretirement plans, Excluding Defined Contribution Retirement Plans) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Fair value of plan assets at end of year | $5,914 | $5,567 | |
Noncurrent liabilitybaccrued benefit cost | -1,693 | -1,312 | |
Defined Benefit Pension [Member] | |||
Benefit obligation at beginning of year | 6,164 | 6,590 | |
Service cost | 46 | 53 | 45 |
Interest cost | 279 | 257 | 279 |
Actuarial loss (gain) | 986 | -422 | |
Currency and other | -207 | 47 | |
Benefit payments from plans | -356 | -343 | |
Direct benefit payments | -10 | -13 | |
Currency and other | 42 | 5 | |
Benefit obligation at end of year | 6,860 | 6,164 | 6,590 |
Fair value of plan assets at beginning of year | 5,567 | 5,375 | |
Actual return on plan assets | 694 | 268 | |
Employer contributions | 185 | 220 | |
Currency and other | -142 | 47 | |
Benefit payments | -356 | -343 | |
Settlements | -34 | 0 | |
Fair value of plan assets at end of year | 5,914 | 5,567 | 5,375 |
Funded Status | -946 | -597 | |
Noncurrent assetbprepaid benefit cost | 6 | 9 | |
Current liabilitybaccrued benefit cost | -13 | -12 | |
Noncurrent liabilitybaccrued benefit cost | -939 | -594 | |
Net amount recognized | -946 | -597 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | |||
Benefit obligation at beginning of year | 761 | 824 | |
Service cost | 13 | 17 | |
Interest cost | 35 | 32 | |
Actuarial loss (gain) | 39 | -60 | |
Currency and other | -4 | 0 | |
Benefit payments from plans | 0 | 0 | |
Direct benefit payments | -56 | -52 | |
Currency and other | 0 | 0 | |
Benefit obligation at end of year | 788 | 761 | |
Fair value of plan assets at beginning of year | 0 | 0 | |
Actual return on plan assets | 0 | 0 | |
Employer contributions | 0 | 0 | |
Currency and other | 0 | 0 | |
Benefit payments | 0 | 0 | |
Settlements | 0 | 0 | |
Fair value of plan assets at end of year | 0 | 0 | |
Funded Status | -788 | -761 | |
Noncurrent assetbprepaid benefit cost | 0 | 0 | |
Current liabilitybaccrued benefit cost | -51 | -56 | |
Noncurrent liabilitybaccrued benefit cost | -737 | -705 | |
Net amount recognized | ($788) | ($761) |
Employee_Postretirement_Benefi4
Employee Postretirement Benefits (Principal Plans and All Other Pension Plans) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Projected benefit obligation (bPBOb) | $6,860 | $6,164 |
Accumulated benefit obligation (bABOb) | 6,696 | 5,994 |
Fair value of plan assets | 5,914 | 5,567 |
Principal Plans [Member] | ||
Projected benefit obligation (bPBOb) | 6,312 | 5,640 |
Accumulated benefit obligation (bABOb) | 6,221 | 5,555 |
Fair value of plan assets | 5,559 | 5,205 |
All Other Pension Plans [Member] | ||
Projected benefit obligation (bPBOb) | 548 | 524 |
Accumulated benefit obligation (bABOb) | 475 | 439 |
Fair value of plan assets | $355 | $362 |
Employee_Postretirement_Benefi5
Employee Postretirement Benefits (Pension Plans with an ABO in Excess of Plan Assets) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
PBO | $6,860 | $6,164 |
ABO | 6,696 | 5,994 |
Fair value of plan assets | 4,111 | 5,163 |
ABO in Excess of Plan Assets [Member] | ||
PBO | 4,983 | 5,722 |
ABO | $4,908 | $5,622 |
Employee_Postretirement_Benefi6
Employee Postretirement Benefits (Components of Net Periodic Benefit Cost) (Details) (USD $) | 12 Months Ended | |||||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||
Defined Benefit Pension [Member] | ||||||
Service cost | $46 | $53 | $45 | |||
Interest cost | 279 | 257 | 279 | |||
Expected return on plan assets(a) | -332 | [1] | -331 | [1] | -329 | [1] |
Recognized net actuarial loss | 100 | 120 | 111 | |||
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Curtailments and Settlements | -20 | 31 | -20 | |||
Other | -3 | 1 | -4 | |||
Net periodic benefit cost | 110 | 69 | 122 | |||
Other Postretirement Benefit Plans, Defined Benefit [Member] | ||||||
Service cost | 13 | 17 | 15 | |||
Interest cost | 35 | 32 | 36 | |||
Expected return on plan assets(a) | 0 | 0 | 0 | |||
Recognized net actuarial loss | 0 | 3 | 1 | |||
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Curtailments and Settlements | 0 | 0 | 0 | |||
Other | -1 | -2 | -1 | |||
Net periodic benefit cost | $47 | $50 | $51 | |||
[1] | The expected return on plan assets is determined by multiplying the fair value of plan assets at the remeasurement date, typically the prior year-end adjusted for estimated current year cash benefit payments and contributions, by the expected long-term rate of return. |
Employee_Postretirement_Benefi7
Employee Postretirement Benefits (Weighted-Average Assumptions) (Details) | 12 Months Ended | |||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Defined Benefit Pension [Member] | ||||
Net cost, Discount rate | 3.83% | 4.66% | 4.04% | 4.87% |
Net cost, Expected long-term return on plan assets | 5.21% | 5.98% | 6.26% | 6.49% |
Net cost, Rate of compensation increase | 2.63% | 2.67% | 2.73% | 2.91% |
Benefit obligations, Discount rate | 3.83% | 4.66% | ||
Benefit obligations, Rate of compensation increase | 2.63% | 2.67% | ||
Other Postretirement Benefit Plans, Defined Benefit [Member] | ||||
Net cost, Discount rate | 4.97% | 3.97% | 4.70% | |
Net cost, Expected long-term return on plan assets | 0.00% | 0.00% | 0.00% | |
Net cost, Rate of compensation increase | 0.00% | 0.00% | 0.00% | |
Benefit obligations, Discount rate | 4.28% | 4.97% | ||
Benefit obligations, Rate of compensation increase | 0.00% | 0.00% |
Employee_Postretirement_Benefi8
Employee Postretirement Benefits (Pension Plan Assets of the Principal Plans Measured at fair value) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | |||
Projected benefit obligation (bPBOb) | $6,860 | $6,164 | |
Accumulated benefit obligation (bABOb) | 6,696 | 5,994 | |
Fair value of plan assets | 5,914 | 5,567 | |
Defined Benefit Pension [Member] | |||
Fair value of plan assets | 5,914 | 5,567 | 5,375 |
Principal Plans [Member] | |||
Projected benefit obligation (bPBOb) | 6,312 | 5,640 | |
Accumulated benefit obligation (bABOb) | 6,221 | 5,555 | |
Fair value of plan assets | 5,559 | 5,205 | |
Principal Plans [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Fair value of plan assets | 161 | 146 | |
Principal Plans [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair value of plan assets | 5,398 | 5,029 | |
Principal Plans [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair value of plan assets | 0 | 30 | |
Principal Plans [Member] | U.S. Equity [Member] | |||
Fair value of plan assets | 18 | ||
Principal Plans [Member] | U.S. Equity [Member] | Mutual and Pooled Funds [Member] | |||
Fair value of plan assets | 4 | 4 | |
Principal Plans [Member] | U.S. Equity [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Fair value of plan assets | 18 | ||
Principal Plans [Member] | U.S. Equity [Member] | Fair Value, Inputs, Level 1 [Member] | Mutual and Pooled Funds [Member] | |||
Fair value of plan assets | 4 | 4 | |
Principal Plans [Member] | U.S. Equity [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair value of plan assets | 0 | ||
Principal Plans [Member] | U.S. Equity [Member] | Fair Value, Inputs, Level 2 [Member] | Mutual and Pooled Funds [Member] | |||
Fair value of plan assets | 0 | 0 | |
Principal Plans [Member] | U.S. Equity [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair value of plan assets | 0 | ||
Principal Plans [Member] | U.S. Equity [Member] | Fair Value, Inputs, Level 3 [Member] | Mutual and Pooled Funds [Member] | |||
Fair value of plan assets | 0 | 0 | |
Principal Plans [Member] | Non-U.S. Equity [Member] | Mutual and Pooled Funds [Member] | |||
Fair value of plan assets | 106 | 123 | |
Principal Plans [Member] | Non-U.S. Equity [Member] | Fair Value, Inputs, Level 1 [Member] | Mutual and Pooled Funds [Member] | |||
Fair value of plan assets | 1 | 1 | |
Principal Plans [Member] | Non-U.S. Equity [Member] | Fair Value, Inputs, Level 2 [Member] | Mutual and Pooled Funds [Member] | |||
Fair value of plan assets | 105 | 122 | |
Principal Plans [Member] | Non-U.S. Equity [Member] | Fair Value, Inputs, Level 3 [Member] | Mutual and Pooled Funds [Member] | |||
Fair value of plan assets | 0 | 0 | |
Principal Plans [Member] | International Bonds [Member] | Mutual and Pooled Funds [Member] | |||
Fair value of plan assets | 1,438 | 1,089 | |
Principal Plans [Member] | International Bonds [Member] | Fair Value, Inputs, Level 1 [Member] | Mutual and Pooled Funds [Member] | |||
Fair value of plan assets | 0 | 0 | |
Principal Plans [Member] | International Bonds [Member] | Fair Value, Inputs, Level 2 [Member] | Mutual and Pooled Funds [Member] | |||
Fair value of plan assets | 1,438 | 1,089 | |
Principal Plans [Member] | International Bonds [Member] | Fair Value, Inputs, Level 3 [Member] | Mutual and Pooled Funds [Member] | |||
Fair value of plan assets | 0 | 0 | |
Principal Plans [Member] | U.S. securitized fixed income [Member] | |||
Fair value of plan assets | 6 | 8 | |
Principal Plans [Member] | U.S. securitized fixed income [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Fair value of plan assets | 0 | 0 | |
Principal Plans [Member] | U.S. securitized fixed income [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair value of plan assets | 6 | 8 | |
Principal Plans [Member] | U.S. securitized fixed income [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair value of plan assets | 0 | 0 | |
Principal Plans [Member] | Cash and Cash Equivalents [Member] | |||
Fair value of plan assets | 28 | 33 | |
Principal Plans [Member] | Cash and Cash Equivalents [Member] | Mutual and Pooled Funds [Member] | |||
Fair value of plan assets | 175 | 173 | |
Principal Plans [Member] | Cash and Cash Equivalents [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Fair value of plan assets | 28 | 33 | |
Principal Plans [Member] | Cash and Cash Equivalents [Member] | Fair Value, Inputs, Level 1 [Member] | Mutual and Pooled Funds [Member] | |||
Fair value of plan assets | 9 | 34 | |
Principal Plans [Member] | Cash and Cash Equivalents [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair value of plan assets | 0 | 0 | |
Principal Plans [Member] | Cash and Cash Equivalents [Member] | Fair Value, Inputs, Level 2 [Member] | Mutual and Pooled Funds [Member] | |||
Fair value of plan assets | 166 | 139 | |
Principal Plans [Member] | Cash and Cash Equivalents [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair value of plan assets | 0 | 0 | |
Principal Plans [Member] | Cash and Cash Equivalents [Member] | Fair Value, Inputs, Level 3 [Member] | Mutual and Pooled Funds [Member] | |||
Fair value of plan assets | 0 | 0 | |
Principal Plans [Member] | U.S. government and municipals [Member] | |||
Fair value of plan assets | 252 | 211 | |
Principal Plans [Member] | U.S. government and municipals [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Fair value of plan assets | 71 | 71 | |
Principal Plans [Member] | U.S. government and municipals [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair value of plan assets | 181 | 140 | |
Principal Plans [Member] | U.S. government and municipals [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair value of plan assets | 0 | 0 | |
Principal Plans [Member] | U.S. corporate debt [Member] | |||
Fair value of plan assets | 2,167 | 1,654 | |
Principal Plans [Member] | U.S. corporate debt [Member] | Mutual and Pooled Funds [Member] | |||
Fair value of plan assets | 149 | 186 | |
Principal Plans [Member] | U.S. corporate debt [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Fair value of plan assets | 0 | 0 | |
Principal Plans [Member] | U.S. corporate debt [Member] | Fair Value, Inputs, Level 1 [Member] | Mutual and Pooled Funds [Member] | |||
Fair value of plan assets | 0 | 0 | |
Principal Plans [Member] | U.S. corporate debt [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair value of plan assets | 2,167 | 1,654 | |
Principal Plans [Member] | U.S. corporate debt [Member] | Fair Value, Inputs, Level 2 [Member] | Mutual and Pooled Funds [Member] | |||
Fair value of plan assets | 149 | 186 | |
Principal Plans [Member] | U.S. corporate debt [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair value of plan assets | 0 | 0 | |
Principal Plans [Member] | U.S. corporate debt [Member] | Fair Value, Inputs, Level 3 [Member] | Mutual and Pooled Funds [Member] | |||
Fair value of plan assets | 0 | 0 | |
Principal Plans [Member] | Multi-sector [Member] | Mutual and Pooled Funds [Member] | |||
Fair value of plan assets | 1 | 2 | |
Principal Plans [Member] | Multi-sector [Member] | Fair Value, Inputs, Level 1 [Member] | Mutual and Pooled Funds [Member] | |||
Fair value of plan assets | 1 | 2 | |
Principal Plans [Member] | Multi-sector [Member] | Fair Value, Inputs, Level 2 [Member] | Mutual and Pooled Funds [Member] | |||
Fair value of plan assets | 0 | 0 | |
Principal Plans [Member] | Multi-sector [Member] | Fair Value, Inputs, Level 3 [Member] | Mutual and Pooled Funds [Member] | |||
Fair value of plan assets | 0 | 0 | |
Principal Plans [Member] | Global equity [Member] | Mutual and Pooled Funds [Member] | |||
Fair value of plan assets | 1,186 | 1,691 | |
Principal Plans [Member] | Global equity [Member] | Fair Value, Inputs, Level 1 [Member] | Mutual and Pooled Funds [Member] | |||
Fair value of plan assets | 0 | 0 | |
Principal Plans [Member] | Global equity [Member] | Fair Value, Inputs, Level 2 [Member] | Mutual and Pooled Funds [Member] | |||
Fair value of plan assets | 1,186 | 1,691 | |
Principal Plans [Member] | Global equity [Member] | Fair Value, Inputs, Level 3 [Member] | Mutual and Pooled Funds [Member] | |||
Fair value of plan assets | 0 | 0 | |
Principal Plans [Member] | All Other [Member] | |||
Fair value of plan assets | 29 | ||
Principal Plans [Member] | All Other [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Fair value of plan assets | 29 | ||
Principal Plans [Member] | Insurance Contract [Member] | |||
Fair value of plan assets | 30 | ||
Principal Plans [Member] | Insurance Contract [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair value of plan assets | 0 | ||
Principal Plans [Member] | Insurance Contract [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair value of plan assets | 0 | 30 | |
Principal Plans [Member] | Equity - Held Through Mutual and Pooled Funds [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Fair value of plan assets | 0 | ||
Principal Plans [Member] | Equity - Held Through Mutual and Pooled Funds [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair value of plan assets | 0 | ||
U.S. Equity [Member] | Equity - Assets Held Directly [Member] | |||
Fair value of plan assets | 1 | ||
U.S. Equity [Member] | Equity - Assets Held Directly [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Fair value of plan assets | 1 | ||
U.S. Equity [Member] | Equity - Assets Held Directly [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair value of plan assets | 0 | ||
U.S. Equity [Member] | Equity - Assets Held Directly [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair value of plan assets | $0 |
Employee_Postretirement_Benefi9
Employee Postretirement Benefits (Cash Contributions to its Pension Trusts) (Details) (USD $) | Dec. 31, 2014 |
In Millions, unless otherwise specified | |
Defined Benefit Pension [Member] | |
Defined Benefit Plan, Expected Future Benefit Payments in Year One | $430 |
Defined Benefit Plan, Expected Future Benefit Payments in Year Two | 432 |
Defined Benefit Plan, Expected Future Benefit Payments in Year Three | 438 |
Defined Benefit Plan, Expected Future Benefit Payments in Year Four | 440 |
Defined Benefit Plan, Expected Future Benefit Payments in Year Five | 439 |
Defined Benefit Plan, Expected Future Benefit Payments in Five Fiscal Years Thereafter | 2,181 |
Other Postretirement Benefit Plans, Defined Benefit [Member] | |
Defined Benefit Plan, Expected Future Benefit Payments in Year One | 52 |
Defined Benefit Plan, Expected Future Benefit Payments in Year Two | 53 |
Defined Benefit Plan, Expected Future Benefit Payments in Year Three | 55 |
Defined Benefit Plan, Expected Future Benefit Payments in Year Four | 57 |
Defined Benefit Plan, Expected Future Benefit Payments in Year Five | 58 |
Defined Benefit Plan, Expected Future Benefit Payments in Five Fiscal Years Thereafter | $309 |
Recovered_Sheet1
Employee Postretirement Benefits (Defined Contribution Pension Plans) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Costs charged to expense for defined contribution pension plans | $121 | $117 | $108 |
UNITED STATES | |||
Costs charged to expense for defined contribution pension plans | 87 | 90 | 82 |
Outside the United States [Member] | |||
Costs charged to expense for defined contribution pension plans | $34 | $27 | $26 |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Income (Change in Components of Accumulated Other Comprehensive Income Attributable to Kimberly-Clark (Details) (USD $) | 12 Months Ended | ||||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | ||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | |||||
Accumulated Other Comprehensive Income, Beginning Balance | ($2,242) | ||||
Net current period other comprehensive income (loss) | -1,090 | -175 | -178 | ||
Spin-off of health care business | 9 | 0 | 0 | ||
Accumulated Other Comprehensive Income, Ending Balance | -3,312 | -2,242 | |||
Unrealized Translation [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | |||||
Accumulated Other Comprehensive Income, Beginning Balance | -525 | -26 | |||
Other comprehensive income (loss) before reclassifications | -819 | -499 | |||
(Income) loss reclassified from AOCI | 0 | 0 | |||
Net current period other comprehensive income (loss) | -819 | -499 | |||
Spin-off of health care business | 9 | ||||
Accumulated Other Comprehensive Income, Ending Balance | -1,335 | -525 | |||
Defined Benefit Plans [Member] | Defined Benefit Pension Plans [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | |||||
Accumulated Other Comprehensive Income, Beginning Balance | -1,668 | -1,928 | |||
Other comprehensive income (loss) before reclassifications | -313 | 218 | |||
(Income) loss reclassified from AOCI | 57 | [1] | 42 | [1] | |
Net current period other comprehensive income (loss) | -256 | 260 | |||
Spin-off of health care business | 0 | ||||
Accumulated Other Comprehensive Income, Ending Balance | -1,924 | -1,668 | |||
Defined Benefit Plans [Member] | Other Postretirement Benefit Plans [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | |||||
Accumulated Other Comprehensive Income, Beginning Balance | -15 | -53 | |||
Other comprehensive income (loss) before reclassifications | -23 | 36 | |||
(Income) loss reclassified from AOCI | 1 | [1] | 2 | [1] | |
Net current period other comprehensive income (loss) | -22 | 38 | |||
Spin-off of health care business | 0 | ||||
Accumulated Other Comprehensive Income, Ending Balance | -37 | -15 | |||
Cash Flow Hedges and Other [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | |||||
Accumulated Other Comprehensive Income, Beginning Balance | -34 | -52 | |||
Other comprehensive income (loss) before reclassifications | 29 | 24 | |||
(Income) loss reclassified from AOCI | -11 | -6 | |||
Net current period other comprehensive income (loss) | 18 | 18 | |||
Spin-off of health care business | 0 | ||||
Accumulated Other Comprehensive Income, Ending Balance | ($16) | ($34) | |||
[1] | Included in computation of net periodic pension and postretirement benefits costs (see Note 11) |
Accumulated_Other_Comprehensiv3
Accumulated Other Comprehensive Income (Narratives) (Details) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2014 |
Equity [Abstract] | |
Unrecognized net actuarial loss | $2,016 |
Unrecognized net prior service credit | 54 |
Defined Benefit Plan, Amortization of Net Gains (Losses) | 116 |
Defined Benefit Plan, Amortization of Net Prior Service Cost (Credit) | ($10) |
Accumulated_Other_Comprehensiv4
Accumulated Other Comprehensive Income Accumulated Other Comprehensive Income (Components of Stockholders' Equity) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Unrealized translation | ($835) | ($494) | $215 |
Employee postretirement benefits | -275 | 302 | -377 |
Recognition of effective portion of hedges | 18 | 37 | -20 |
Amortization included in net income | -5 | -10 | 0 |
Cash flow hedges and other, before Tax | 15 | 31 | -21 |
Cash flow hedges and other, tax effect | 3 | -13 | 5 |
Cash flow hedges and other, net of tax | 18 | 18 | -16 |
Spin-off of health care business | 9 | 0 | 0 |
Change in AOCI | -1,070 | -183 | -193 |
Defined Benefit Pension Plans [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Defined benefit and other postretirement benefit plans, tax effect | 167 | -176 | 165 |
Employee postretirement benefits | -256 | 260 | -350 |
Other Postretirement Benefit Plans [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Defined benefit and other postretirement benefit plans, tax effect | 14 | -24 | 12 |
Employee postretirement benefits | -22 | 38 | -22 |
Attributable to Kimberly-Clark [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Unrealized translation, before tax | -826 | -495 | 204 |
Unrealized translation, tax effect | 7 | -4 | -9 |
Unrealized translation | -819 | -499 | 195 |
Unrecognized net actuarial loss and transition amount [Member] | Defined Benefit Pension Plans [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Funded status recognition | 624 | -356 | 588 |
Amortization included in net periodic benefit cost | 100 | 120 | 90 |
Currency and other | -69 | 8 | 20 |
Other comprehensive income (loss), before tax | -455 | 468 | -518 |
Unrecognized net actuarial loss and transition amount [Member] | Other Postretirement Benefit Plans [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Other comprehensive income (loss), before tax | -36 | 65 | -32 |
Unrecognized prior service cost [Member] | Defined Benefit Pension Plans [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Currency and other | 3 | 1 | -3 |
Other comprehensive income (loss), before tax | 32 | -32 | 3 |
Funded status recognition | 42 | 0 | 0 |
Amortization included in net periodic benefit cost | -7 | -31 | 0 |
Unrecognized prior service cost [Member] | Other Postretirement Benefit Plans [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Other comprehensive income (loss), before tax | 0 | -3 | -2 |
Cash Flow Hedges and Other [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Currency and other | -2 | -4 | 1 |
Spin-off of health care business | $0 |
Leases_and_Commitments_Future_
Leases and Commitments (Future Minimum Obligations under Operating Leases) (Details) (USD $) | Dec. 31, 2014 |
In Millions, unless otherwise specified | |
Leases and Commitments [Line Items] | |
2015 | $151 |
2016 | 117 |
2017 | 94 |
2018 | 70 |
2019 | 56 |
Thereafter | 99 |
Future minimum obligations | $587 |
Leases_and_Commitments_Narrati
Leases and Commitments (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Leases and Commitments | |||
Consolidated rental expense | $303 | $316 | $303 |
2015 | 297 | ||
2016 | 187 | ||
2017 | 165 | ||
2018 | 141 | ||
2019 | 147 | ||
Beyond 2019 | $163 |
Objectives_and_Strategies_for_2
Objectives and Strategies for Using Derivatives (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Assets | $54 | $62 | |
Liabilities | 116 | 49 | |
Fair value hedge ineffectiveness is immaterial assertion | Fair value hedges resulted in no significant ineffectiveness in each of the three years ended DecemberB 31, 2014 | ||
Gain from hedged firm commitment not qualifying as fair value hedge | 0 | ||
Cash flow hedge ineffectiveness is immaterial assertion | Cash flow hedges resulted in no significant ineffectiveness in each of the three years ended DecemberB 31, 2014 | ||
Gains or losses reclassified into earnings resulting from discontinuance of cash flow hedges | 0 | ||
Losses on undesignated foreign exchange hedging instruments recognized in other (income) and expense | 192 | 74 | -69 |
Fair Value Hedging [Member] | |||
Aggregate notional value | 250 | ||
Cash Flow Hedging [Member] | |||
Maximum maturity of cash flow hedges | 1-Dec-17 | ||
Not Designated as Hedging Instrument [Member] | |||
Aggregate notional value | 2,600 | ||
Foreign Exchange Contract [Member] | |||
Assets | 54 | 34 | |
Liabilities | 102 | 49 | |
Foreign Exchange Contract [Member] | Cash Flow Hedging [Member] | |||
Aggregate notional value | 820 | ||
Interest Rate Contract [Member] | |||
Assets | 0 | 22 | |
Liabilities | 4 | 0 | |
Interest Rate Contract [Member] | Cash Flow Hedging [Member] | |||
Aggregate notional value | 200 | ||
Commodity Contract [Member] | |||
Assets | 0 | 6 | |
Liabilities | $10 | $0 |
Income_Taxes_Analysis_of_the_P
Income Taxes (Analysis of the Provision for Income Taxes) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Income Tax Disclosure [Abstract] | |||
United States | $350 | $292 | $112 |
State | 48 | 99 | 15 |
Other countries | 387 | 286 | 289 |
Total | 785 | 677 | 416 |
United States | 67 | 85 | 218 |
State | -16 | 14 | 36 |
Other countries | 20 | 52 | -10 |
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability | 71 | 151 | 244 |
Total provision for income taxes | $856 | $828 | $660 |
Income_Taxes_Income_before_Inc
Income Taxes (Income before Income Taxes) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Income Tax Disclosure [Abstract] | |||
United States | $1,571 | $1,557 | $1,223 |
Other countries | 684 | 1,084 | 887 |
Income From Continuing Operations Before Income Taxes and Equity Interests | $2,255 | $2,641 | $2,110 |
Income_Taxes_Deferred_Income_T
Income Taxes (Deferred Income Tax Assets (Liabilities)) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Income Tax Disclosure [Abstract] | ||
Pension and other postretirement benefits | $883 | $728 |
Tax credits and loss carryforwards | 538 | 604 |
Deferred Tax Assets, Property, Plant and Equipment | 77 | 104 |
Other | 590 | 516 |
Deferred Tax Assets, Gross | 2,088 | 1,952 |
Deferred Tax Assets, Valuation Allowance | -215 | -197 |
Deferred Tax Assets, Net | 1,873 | 1,755 |
Deferred Tax Liability Noncurrent Pension Postretirement And Other Employee Benefits | -260 | -259 |
Deferred Tax Liabilities, Property, Plant and Equipment | -1,162 | -1,244 |
Deferred Tax Liabilities, Undistributed Foreign Earnings | -223 | -205 |
Deferred Tax Liabilities, Other | -339 | -396 |
Deferred Tax Liabilities, Gross | -1,984 | -2,104 |
Deferred Tax Liabilities, Net | ($111) | ($349) |
Income_Taxes_Narrative_Details
Income Taxes (Narrative) (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Valuation Allowance | ||
Income tax loss carryforwards | $1,000,000,000 | |
Income tax loss carryforwards expire amount | 445,000,000 | |
Income tax loss carryforwards expiration dates | 2015 through 2034 | |
Remaining amount of loss carryforwards that has no expiration date | 557,000,000 | |
Unremitted earnings | 8,600,000,000 | |
Unrecognized tax benefits | 266,000,000 | |
Total accrued penalties and net accrued interest | 28,000,000 | 42,000,000 |
Aggregate resolution of uncertainties | $130,000,000 | |
Year federal income tax returns have been audited | 2011 | |
Administrative appeals or litigation | 1999 to 2011 | |
State and Local Jurisdiction [Member] | ||
Valuation Allowance | ||
Statute for potential adjustments, period | 3 to 5 years | |
Pending refund actions, period | two |
Income_Taxes_Reconciliation_of
Income Taxes (Reconciliation of Income Tax Provision) (Details) | 12 Months Ended | |||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | ||||
Income Tax Disclosure [Abstract] | ||||||
Tax at U.S. statutory rate applied to income before income taxes | 35.00% | 35.00% | 35.00% | |||
State income taxes, net of federal tax benefit | 0.70% | 2.70% | 1.60% | |||
Statutory rates other than U.S. statutory rate | -3.00% | -3.00% | -2.80% | |||
Venezuela balance sheet remeasurement and inflationary impact | 4.90% | -0.80% | -0.40% | |||
Other-net | 0.40% | [1] | -2.50% | [1] | -2.10% | [1] |
Effective income tax rate | 38.00% | 31.40% | 31.30% | |||
[1] | Other - net is composed of numerous items, none of which is greater than 1.75 percent of income before income taxes. |
Income_Taxes_Unrecognized_Inco
Income Taxes (Unrecognized Income Tax Benefits) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Balance at January 1 | $473 | $435 | $558 |
Gross increases for tax positions of prior years | 36 | 73 | 30 |
Gross decreases for tax positions of prior years | -91 | -31 | -104 |
Gross increases for tax positions of the current year | 87 | 37 | 52 |
Settlements | -77 | -35 | -100 |
Unrecognized Tax Benefits, Other | 12 | 6 | 1 |
Balance at December 31 | $416 | $473 | $435 |
Income_Taxes_Remaining_Tax_Yea
Income Taxes (Remaining Tax Years Subject to Examination) (Details) | 12 Months Ended |
Dec. 31, 2014 | |
Minimum [Member] | United States | |
Income Tax Examination [Line Items] | |
Tax years subject to examination | 2012 |
Minimum [Member] | United Kingdom | |
Income Tax Examination [Line Items] | |
Tax years subject to examination | 2012 |
Minimum [Member] | Brazil | |
Income Tax Examination [Line Items] | |
Tax years subject to examination | 2009 |
Minimum [Member] | Korea | |
Income Tax Examination [Line Items] | |
Tax years subject to examination | 2014 |
Minimum [Member] | China | |
Income Tax Examination [Line Items] | |
Tax years subject to examination | 2003 |
Maximum [Member] | United States | |
Income Tax Examination [Line Items] | |
Tax years subject to examination | 2014 |
Maximum [Member] | United Kingdom | |
Income Tax Examination [Line Items] | |
Tax years subject to examination | 2014 |
Maximum [Member] | Brazil | |
Income Tax Examination [Line Items] | |
Tax years subject to examination | 2014 |
Maximum [Member] | China | |
Income Tax Examination [Line Items] | |
Tax years subject to examination | 2014 |
Earnings_Per_Share_Average_Com
Earnings Per Share (Average Common shares Outstanding Basic and Diluted) (Details) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Earnings Per Share [Abstract] | |||
Basic | 374.5 | 384 | 393 |
Dilutive effect of stock options and restricted share unit awards | 2.9 | 3.3 | 3.1 |
Diluted | 377.4 | 387.3 | 396.1 |
Earnings_Per_Share_Options_Out
Earnings Per Share (Options Outstanding not Included in Computation of Diluted EPS) (Details) (USD $) | 12 Months Ended | ||
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Earnings Per Share [Abstract] | |||
Average number of share equivalents (millions) | 1.1 | 1.1 | 1.1 |
Weighted-average exercise price | $107.54 | $103.29 | $78.54 |
Options outstanding at year-end (millions) | 1.7 | 1.8 | 1.7 |
Earnings_Per_Share_Narratives_
Earnings Per Share (Narratives) (Details) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | |||
Earnings Per Share [Abstract] | |||
Common shares outstanding | 365.3 | 380.8 | 389.3 |
Business_Segment_and_Geographi1
Business Segment and Geographic Data Information (Narrative) (Details) (USD $) | 12 Months Ended | 3 Months Ended | ||||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | ||
Restructuring charges | $434 | |||||
Charge for Venezuelan balance sheet remeasurement | -462 | -36 | 0 | |||
Other Operating Income (Expense), Net | -453 | -7 | [1] | 5 | [1] | |
Net Sales Percentage to One Customer [Member] | Wal-Mart Stores, Inc. [Member] | ||||||
Net sales to Wal-Mart Stores, percent | 13.00% | 13.00% | 13.00% | |||
K-C Venezuela [Member] | ||||||
Charge for Venezuelan balance sheet remeasurement | 462 | |||||
Dispute in Middle East [Member] | ||||||
Other Operating Income (Expense), Net | 35 | |||||
K-C Venezuela [Member] | ||||||
Charge for Venezuelan balance sheet remeasurement | 41 | |||||
Other Income [Member] | K-C Venezuela [Member] | ||||||
Charge for Venezuelan balance sheet remeasurement | 421 | 36 | ||||
Before Tax [Member] | 2014 Organization Restructuring [Member] | ||||||
Restructuring charges | $133 | |||||
[1] | Segment operating profit excludes other (income) and expense, net and income and expenses not associated with the business segments. |
Business_Segment_and_Geographi2
Business Segment and Geographic Data Information (Information Concerning Consolidated Operations by Business Segment) (Details) (USD $) | 12 Months Ended | 23 Months Ended | |||||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | |||
Net Sales | $19,724 | [1] | $19,561 | [1] | $19,467 | [1] | |
Operating Profit | 2,521 | [2] | 2,903 | [2] | 2,377 | [2] | |
Charges for workforce reductions and other exit costs | 434 | ||||||
Depreciation and Amortization | 862 | 863 | 857 | ||||
Assets | 15,526 | 18,919 | 19,873 | 19,873 | |||
Capital Spending | 1,039 | 953 | 1,093 | ||||
United States | |||||||
Net Sales | 8,573 | 8,557 | 8,514 | ||||
Personal Care [Member] | |||||||
Net Sales | 9,635 | [1] | 9,536 | [1] | 9,576 | [1] | |
Operating Profit | 1,803 | [2] | 1,698 | [2] | 1,660 | [2] | |
Charges for workforce reductions and other exit costs | 213 | ||||||
Depreciation and Amortization | 359 | 332 | 315 | ||||
Assets | 6,373 | 6,623 | 7,014 | 7,014 | |||
Capital Spending | 501 | 461 | 551 | ||||
Consumer Tissue [Member] | |||||||
Net Sales | 6,645 | [1] | 6,637 | [1] | 6,527 | [1] | |
Operating Profit | 1,062 | [2] | 988 | [2] | 887 | [2] | |
Charges for workforce reductions and other exit costs | 191 | ||||||
Depreciation and Amortization | 299 | 318 | 331 | ||||
Assets | 5,229 | 5,483 | 5,531 | 5,531 | |||
Capital Spending | 314 | 328 | 352 | ||||
K-C Professional and Other [Member] | |||||||
Net Sales | 3,388 | [1] | 3,323 | [1] | 3,283 | [1] | |
Operating Profit | 604 | [2] | 605 | [2] | 542 | [2] | |
Charges for workforce reductions and other exit costs | 29 | ||||||
Depreciation and Amortization | 132 | 138 | 141 | ||||
Assets | 2,339 | 2,431 | 2,739 | 2,739 | |||
Capital Spending | 143 | 118 | 116 | ||||
Health Care [Member] | |||||||
Depreciation and Amortization | 69 | 71 | 59 | ||||
Assets | 0 | 2,370 | 2,531 | 2,531 | |||
Capital Spending | 75 | 44 | 42 | ||||
Corporate and Other [Member] | |||||||
Net Sales | 56 | [1] | 65 | [1] | 81 | [1] | |
Operating Profit | -495 | [2],[3] | -381 | [2],[3] | -717 | [2],[3] | |
Depreciation and Amortization | 3 | 4 | 11 | ||||
Assets | 1,585 | 2,012 | 2,058 | 2,058 | |||
Capital Spending | 6 | 2 | 32 | ||||
Ongoing Operations [Member] | |||||||
Depreciation and Amortization | 793 | 792 | 798 | ||||
Assets | 15,526 | 16,549 | 17,342 | 17,342 | |||
Capital Spending | 964 | 909 | 1,051 | ||||
Other (Income) And Expense, Net [Member] | |||||||
Charges for workforce reductions and other exit costs | 1 | ||||||
European Strategic Changes [Member] | |||||||
Charges for workforce reductions and other exit costs | 33 | 81 | 299 | ||||
European Strategic Changes [Member] | Personal Care [Member] | |||||||
Charges for workforce reductions and other exit costs | 20 | 36 | 213 | ||||
European Strategic Changes [Member] | Consumer Tissue [Member] | |||||||
Charges for workforce reductions and other exit costs | 12 | 27 | 66 | ||||
European Strategic Changes [Member] | K-C Professional and Other [Member] | |||||||
Charges for workforce reductions and other exit costs | 1 | 13 | 20 | ||||
European Strategic Changes [Member] | Other (Income) And Expense, Net [Member] | |||||||
Charges for workforce reductions and other exit costs | 0 | 5 | 0 | ||||
Pulp And Tissue Restructuring [Member] | |||||||
Charges for workforce reductions and other exit costs | 135 | 550 | |||||
Pulp And Tissue Restructuring [Member] | Personal Care [Member] | |||||||
Charges for workforce reductions and other exit costs | 0 | ||||||
Pulp And Tissue Restructuring [Member] | Consumer Tissue [Member] | |||||||
Charges for workforce reductions and other exit costs | 125 | ||||||
Pulp And Tissue Restructuring [Member] | K-C Professional and Other [Member] | |||||||
Charges for workforce reductions and other exit costs | 9 | ||||||
Pulp And Tissue Restructuring [Member] | Other (Income) And Expense, Net [Member] | |||||||
Charges for workforce reductions and other exit costs | $1 | ||||||
[1] | Net sales in the United States to third parties totaled $8,573, $8,557 and $8,514 in 2014, 2013 and 2012, respectively. | ||||||
[2] | Segment operating profit excludes other (income) and expense, net and income and expenses not associated with the business segments. | ||||||
[3] | Corporate & Other and other (income) and expense, net include the following charges: |
Business_Segment_and_Geographi3
Business Segment and Geographic Data Information (Sales of Principal Products) (Details) (USD $) | 12 Months Ended | ||
In Billions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Sales of Principal Products | $19.70 | $19.60 | $19.50 |
Consumer Tissue Products [Member] | |||
Sales of Principal Products | 6.6 | 6.6 | 6.5 |
Baby and Child Care Products [Member] | |||
Sales of Principal Products | 7 | 7 | 7.1 |
Away from Home Professional Products [Member] | |||
Sales of Principal Products | 3.4 | 3.3 | 3.3 |
All Other [Member] | |||
Sales of Principal Products | $2.70 | $2.70 | $2.60 |
Supplemental_Data_Supplemental
Supplemental Data (Supplemental Income Statement Data) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Supplemental Data | |||
Advertising expense | $767 | $769 | $804 |
Research expense | $368 | $333 | $335 |
Supplemental_Data_Supplemental1
Supplemental Data Supplemental Data (Equity Method Investment Data) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Net Sales | $2,452 | $2,638 | $2,514 |
Gross Profit | 781 | 950 | 864 |
Operating Profit | 485 | 642 | 567 |
Net Income | 304 | 426 | 368 |
Corporation's Share of Net Income | 146 | 205 | 177 |
Current Assets | 1,016 | 1,197 | 1,054 |
Non- Current Assets | 1,040 | 1,124 | 1,068 |
Current Liabilities | 690 | 847 | 712 |
Non- Current Liabilities | 963 | 845 | 837 |
Stockholders' Equity | $403 | $629 | $573 |
Supplemental_Data_Narrative_De
Supplemental Data (Narrative) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Schedule of Equity Method Investments [Line Items] | ||
Investments in Equity Companies | $257,000,000 | $382,000,000 |
Retained Earnings, Undistributed Earnings from Equity Method Investees | 1,000,000,000 | |
Property, Plant and Equipment, Net | 7,359,000,000 | 7,948,000,000 |
United States | ||
Schedule of Equity Method Investments [Line Items] | ||
Property, Plant and Equipment, Net | 3,685,000,000 | 3,917,000,000 |
Kimberly-Clark de Mexico, S.A.B. de C.V. and subsidiaries [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
Equity Method Investment, Ownership Percentage | 47.90% | |
Investments in Equity Companies | 194,000,000 | |
Equity Method Investments, Fair Value Disclosure | $3,400,000,000 |
Supplemental_Data_Summary_of_A
Supplemental Data (Summary of Accounts Receivable, Net) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Supplemental Data (Millions of dollars) [Abstract] | ||
From customers | $2,079 | $2,345 |
Other | 210 | 271 |
Less allowance for doubtful accounts and sales discounts | -66 | -71 |
Total | $2,223 | $2,545 |
Supplemental_Data_Summary_of_I
Supplemental Data (Summary of Inventories) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Inventory [Line Items] | ||
Raw materials | $426 | $462 |
Work in process | 215 | 286 |
Finished goods | 1,183 | 1,401 |
Supplies and other | 288 | 326 |
Gross inventories | 2,112 | 2,475 |
Excess of FIFO or weighted-average cost over LIFO cost | -220 | -242 |
Total | 1,892 | 2,233 |
LIFO | ||
Inventory [Line Items] | ||
Raw materials | 104 | 143 |
Work in process | 120 | 189 |
Finished goods | 511 | 648 |
Supplies and other | 0 | 0 |
Gross inventories | 735 | 980 |
Excess of FIFO or weighted-average cost over LIFO cost | -220 | -242 |
Total | 515 | 738 |
Non- LIFO | ||
Inventory [Line Items] | ||
Raw materials | 322 | 319 |
Work in process | 95 | 97 |
Finished goods | 672 | 753 |
Supplies and other | 288 | 326 |
Gross inventories | 1,377 | 1,495 |
Excess of FIFO or weighted-average cost over LIFO cost | 0 | 0 |
Total | $1,377 | $1,495 |
Supplemental_Data_Summary_of_P
Supplemental Data (Summary of Property, Plant and Equipment, Net) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Supplemental Data | ||
Land | $177 | $196 |
Buildings | 2,574 | 2,776 |
Machinery and equipment | 13,437 | 14,193 |
Construction in progress | 591 | 515 |
Total before accumulated depreciation | 16,779 | 17,680 |
Less accumulated depreciation | -9,420 | -9,732 |
Total | $7,359 | $7,948 |
Supplemental_Data_Summary_of_A1
Supplemental Data (Summary of Accrued Expenses) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Supplemental Data | ||
Accrued advertising and promotion | $326 | $355 |
Accrued salaries and wages | 415 | 471 |
Accrued rebates | 258 | 358 |
Accrued taxes - income and other | 330 | 336 |
Derivative Liability, Current | 113 | 44 |
Other | 532 | 496 |
Total | $1,974 | $2,060 |
Supplemental_Data_Summary_of_C
Supplemental Data (Summary of Cash Flow Effects of Decrease (Increase) in Operating Working Capital) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Accounts receivable | $267 | $4 | ($38) |
Inventories | 12 | 100 | 9 |
Trade accounts payable | -30 | 128 | 45 |
Accrued expenses | -120 | -177 | 133 |
Accrued income taxes | -159 | -90 | 13 |
Derivatives | 103 | 5 | -86 |
Currency and other | -249 | -128 | 43 |
Total | ($176) | ($158) | $119 |
Supplemental_Data_Other_Cash_F
Supplemental Data (Other Cash Flow Data and Interest Expense) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Supplemental Data | |||
Interest paid | $300 | $307 | $299 |
Income taxes paid | $926 | $776 | $451 |
Valuation_and_Qualifying_Accou2
Valuation and Qualifying Accounts (Schedule of Valuation and Qualifying Accounts) (Details) (USD $) | 12 Months Ended | |||||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||
Allowance for Doubtful Accounts [Member] | ||||||
Movement in Valuation Allowances and Reserves [Roll Forward] | ||||||
Balance at Beginning of Period | $51 | $60 | $57 | |||
Charged to Costs and Expenses | 13 | 0 | 9 | |||
Charged to Other Accounts | -7 | [1] | -4 | [1] | 0 | [1] |
Deductions | 7 | [2] | 5 | [2] | 6 | [2] |
Balance at End of Period | 50 | 51 | 60 | |||
Allowances for Sales Discounts [Member] | ||||||
Movement in Valuation Allowances and Reserves [Roll Forward] | ||||||
Balance at Beginning of Period | 20 | 20 | 21 | |||
Charged to Costs and Expenses | 265 | 275 | 280 | |||
Charged to Other Accounts | -1 | [1] | -1 | [1] | 0 | [1] |
Deductions | 268 | [3] | 274 | [3] | 281 | [3] |
Balance at End of Period | 16 | 20 | 20 | |||
Deferred Taxes [Member] | ||||||
Movement in Valuation Allowances and Reserves [Roll Forward] | ||||||
Balance at Beginning of Period | 197 | 215 | 229 | |||
Charged to Costs and Expenses | 30 | -11 | -18 | |||
Charged to Other Accounts | 0 | 0 | 0 | |||
Deductions | 12 | [4] | 7 | [4] | -4 | [4] |
Balance at End of Period | $215 | $197 | $215 | |||
[1] | Includes bad debt recoveries and the effects of changes in foreign currency exchange rates. | |||||
[2] | Primarily uncollectible receivables written off. | |||||
[3] | Sales discounts allowed. | |||||
[4] | Represents the net currency effects of translating valuation allowances at current rates of exchange. |