Exhibit 12.1
KIMBERLY-CLARK CORPORATION AND SUBSIDIARIES | |||||||
Computation of Ratio of Earnings to Fixed Charges | |||||||
(Dollar amounts in millions) | |||||||
(Unaudited) | |||||||
Three Months Ended March 31 | |||||||
2016 | 2015 | ||||||
Consolidated Companies | |||||||
Income from continuing operations before income taxes | $ | 732 | $ | 680 | |||
Interest expense | 76 | 72 | |||||
Interest factor in rent expense | 23 | 24 | |||||
Amortization of capitalized interest | 2 | 2 | |||||
Equity Affiliates | |||||||
Share of 50%-owned | |||||||
Income from continuing operations before income taxes | — | (2 | ) | ||||
Interest expense | — | — | |||||
Interest factor in rent expense | — | — | |||||
Amortization of capitalized interest | — | — | |||||
Distributed income of less than 50%-owned | — | — | |||||
Earnings | $ | 833 | $ | 776 | |||
Consolidated Companies | |||||||
Interest expense | $ | 76 | $ | 72 | |||
Capitalized interest | 4 | 4 | |||||
Interest factor in rent expense | 23 | 24 | |||||
Equity Affiliates | |||||||
Share of 50%-owned | |||||||
Interest and capitalized interest | — | — | |||||
Interest factor in rent expense | — | — | |||||
Fixed charges | $ | 103 | $ | 100 | |||
Ratio of earnings to fixed charges | 8.09 | 7.76 |