Kimberly-Clark (KMB) 10-Q 24 Jul 18 2018 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2018	Jul. 17, 2018
Document And Entity Information
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2018
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2,018
Entity Registrant Name	KIMBERLY CLARK CORP
Entity Central Index Key	55,785
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		347,664,541

Consolidated Income Statement

Consolidated Income Statement - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Income Statement [Abstract]
Net Sales	$ 4,604	$ 4,576	$ 9,335	$ 9,080
Cost of products sold	3,149	2,924	6,556	5,768
Gross Profit	1,455	1,652	2,779	3,312
Marketing, research and general expenses	771	835	1,850	1,642
Other (income) and expense, net	10	3	8	8
Operating Profit	674	814	921	1,662
Nonoperating expense	(36)	(15)	(45)	(29)
Interest income	3	2	5	4
Interest expense	(68)	(85)	(134)	(168)
Income Before Income Taxes and Equity Interests	573	716	747	1,469
Provision for income taxes	(138)	(202)	(242)	(409)
Income Before Equity Interests	435	514	505	1,060
Share of net income of equity companies	30	26	57	55
Net Income	465	540	562	1,115
Net income attributable to noncontrolling interests	(10)	(9)	(14)	(21)
Net Income Attributable to Kimberly-Clark Corporation	$ 455	$ 531	$ 548	$ 1,094
Per Share Basis
Basic	$ 1.30	$ 1.50	$ 1.57	$ 3.08
Diluted	1.30	1.49	1.56	3.06
Cash Dividends Declared	$ 1	$ 0.97	$ 2	$ 1.94

Consolidated Statement Of Compr

Consolidated Statement Of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Statement of Comprehensive Income [Abstract]
Net Income	$ 465	$ 540	$ 562	$ 1,115
Other Comprehensive Income (Loss), Net of Tax
Unrealized currency translation adjustments	(381)	55	(264)	322
Employee postretirement benefits	(79)	1	(79)	3
Other	29	(24)	28	(40)
Total Other Comprehensive Income (Loss), Net of Tax	(273)	30	(157)	279
Comprehensive Income	192	570	405	1,394
Comprehensive (income) loss attributable to noncontrolling interests	1	(1)	(4)	(32)
Comprehensive Income Attributable to Kimberly-Clark Corporation	$ 193	$ 569	$ 401	$ 1,362

Consolidated Balance Sheet

Consolidated Balance Sheet - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Current Assets
Cash and cash equivalents	$ 484	$ 616
Accounts receivable, net	2,286	2,315
Inventories	1,750	1,790
Other current assets	508	490
Total Current Assets	5,028	5,211
Property, Plant and Equipment, Net	7,046	7,436
Investments in Equity Companies	257	233
Goodwill	1,504	1,576
Other Assets	729	695
TOTAL ASSETS	14,564	15,151
Current Liabilities
Debt payable within one year	1,741	953
Trade accounts payable	2,802	2,834
Accrued expenses	1,764	1,730
Dividends payable	348	341
Total Current Liabilities	6,655	5,858
Long-Term Debt	5,746	6,472
Noncurrent Employee Benefits	1,091	1,184
Deferred Income Taxes	467	395
Other Liabilities	366	299
Redeemable Preferred Securities of Subsidiaries	61	61
Stockholders' Equity (Deficit)
Kimberly-Clark Corporation	(57)	629
Noncontrolling Interests	235	253
Total Stockholders' Equity	178	882
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 14,564	$ 15,151

Consolidated Cash Flow Statemen

Consolidated Cash Flow Statement - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Operating Activities
Net income	$ 562	$ 1,115
Depreciation and amortization	435	358
Asset impairments	74	0
Stock-based compensation	26	50
Deferred income taxes	17	(34)
Net losses on asset dispositions	53	10
Equity companies' earnings in excess of dividends paid	(25)	(22)
Operating working capital	93	(191)
Postretirement benefits	(14)	(8)
Other	108	(17)
Cash Provided by Operations	1,329	1,261
Investing Activities
Capital spending	(347)	(386)
Investments in time deposits	(147)	(61)
Maturities of time deposits	94	70
Other	(12)	(10)
Cash Used for Investing	(412)	(387)
Financing Activities
Cash dividends paid	(691)	(674)
Change in short-term debt	104	114
Debt proceeds	0	344
Debt repayments	(4)	(12)
Proceeds from exercise of stock options	22	107
Acquisitions of common stock for the treasury	(420)	(597)
Other	(41)	(46)
Cash Used for Financing	(1,030)	(764)
Effect of Exchange Rate Changes on Cash and Cash Equivalents	(19)	18
Change in Cash and Cash Equivalents	(132)	128
Cash and Cash Equivalents - Beginning of Period	616	923
Cash and Cash Equivalents - End of Period	$ 484	$ 1,051

Accounting Policies

Accounting Policies	6 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
Accounting Policies	Accounting Policies Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information and instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all material adjustments which are of a normal and recurring nature necessary for a fair presentation of the results for the periods presented have been reflected. Dollar amounts are reported in millions, except per share dollar amounts, unless otherwise noted. For further information, refer to the consolidated financial statements and footnotes included in our Annual Report on Form 10‑K for the year ended December 31, 2017 . The terms "Corporation," "Kimberly-Clark," "K-C," "we," "our" and "us" refer to Kimberly-Clark Corporation and its consolidated subsidiaries. In prior years, we followed an accounting practice whereby costs associated with sales of K-C Professional dispensers were classified as a reduction in revenue, similar to sales incentives. Effective January 1, 2018, we changed this practice and now classify these costs as cost of products sold. This change resulted in an immaterial increase in net sales and cost of products sold and all applicable amounts included in this filing have been recast accordingly. Adoption of Highly Inflationary Accounting in Argentina GAAP guidance requires the use of highly inflationary accounting for countries whose cumulative three-year inflation exceeds 100 percent. We have been closely monitoring the inflation data and currency volatility in Argentina, where there are multiple data sources for measuring and reporting inflation. In the second quarter of 2018, the Argentine peso rapidly devalued relative to the U.S. dollar, which along with increased inflation, indicated that the three-year cumulative inflation in that country exceeded 100 percent as of June 30, 2018. As a result, we have elected to adopt highly inflationary accounting as of July 1, 2018 for our subsidiaries in Argentina (“K-C Argentina”). Under highly inflationary accounting, K-C Argentina’s functional currency became the U.S. dollar, and its income statement and balance sheet will be measured in U.S. dollars using both current and historical rates of exchange. The effect of changes in exchange rates on peso-denominated monetary assets and liabilities will be reflected in earnings in other (income) and expense, net. As of June 30, 2018, K-C Argentina had a small net peso monetary position. Net sales of K-C Argentina were less than 2 percent of our consolidated net sales for the six months ended June 30, 2018 and 2017. Recently Adopted Accounting Standards The Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2018-02, Income Statement-Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income . This new standard permit s entities to reclassify to retained earnings the tax effects stranded in accumulated other comprehensive income ("AOCI") as a result of U.S. tax reform. We early adopted this ASU as of April 1, 2018 and reclassified $156 of stranded tax effects related to the U.S. tax reform change in the federal corporate tax rate from AOCI to retained earnings. The FASB issued ASU No. 2017-07, Compensation-Retirement Benefits (Topic 715), Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost. The standard requires that an employer report the service cost component in the same line items as other compensation costs arising from services rendered by the pertinent employees during the period. The other components of net benefit cost are required to be presented in the income statement separately from the service cost component and outside of operating profit (presented as "Nonoperating expense" in our consolidated income statement). We adopted this standard as of January 1, 2018 and applied the amendments retrospectively, and all applicable amounts included in this filing have been recast accordingly. We used the practical expedient that permits us to use the amounts previously disclosed in our employee postretirement benefits note for the prior comparative periods as the basis for applying the retrospective presentation requirements. The FASB issued ASU 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. We adopted this ASU effective January 1, 2018 on a full retrospective basis. Adoption of this standard did not result in significant changes to our accounting policies, business processes, systems or controls, or have a material impact on our financial position, results of operations and cash flows or related disclosures. As such, prior period financial statements were not recast. We primarily generate revenue from the sale of finished products and recognize revenue at the time of product shipment or delivery, depending on when control passes. Rebate and promotion accruals are based on estimates of the quantity of customer sales. Promotion accruals also consider estimates of the number of consumer coupons that will be redeemed and timing and costs of activities within the promotional programs. The cost of promotion activities provided to customers is classified as a reduction in sales revenue. Under ASU No. 2014-09, effective January 1, 2018 for interim reporting, the estimated redemption value of consumer coupons and related expense are recorded when the related revenue from customers is recognized. In prior years, these costs were recognized at the time of coupon issuance. The impact of this change was not material. Accounting Standards Issued - Not Yet Adopted The FASB issued ASU No. 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities . The standard makes more financial and non-financial hedging strategies eligible for hedge accounting, amends the presentation and disclosure requirements and changes how companies assess effectiveness. For public companies, this ASU is effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption is permitted in any interim period. The effects of this standard on our financial position, results of operations and cash flows are not expected to be material. The FASB issued ASU No. 2016-02, Leases (Topic 842) . Under the new guidance, a lessee will be required to recognize assets and liabilities for all leases with lease terms of more than 12 months. Consistent with current GAAP, the recognition, measurement, and presentation of expenses and cash flows arising from a lease by a lessee primarily will depend on its classification as a finance or operating lease. The ASU requires additional disclosures. The standard is effective for public companies for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. The ASU requires adoption based upon a modified retrospective transition approach. The effects of this standard will be to increase total assets and total liabilities by an amount yet to be determined. The impact on our results of operations and cash flows is not expected to be material.

2018 Global Restructuring Progr

2018 Global Restructuring Program	6 Months Ended
	Jun. 30, 2018
2018 Global Restructuring Program
Restructuring Cost and Reserve
Restructuring and Related Activities Disclosure	2018 Global Restructuring Program On January 23, 2018, we announced the 2018 Global Restructuring Program to reduce our structural cost base by streamlining and simplifying our manufacturing supply chain and overhead organization. We expect to close or sell approximately 10 manufacturing facilities and expand production capacity at several others. We expect to exit or divest some lower-margin businesses that generate approximately 1 percent of our net sales. The sales are concentrated in our consumer tissue business segment. The restructuring is expected to impact our organizations in all major geographies. Workforce reductions are expected to be in the range of 5,000 to 5,500 . Certain capital appropriations under the 2018 Global Restructuring Program are being finalized. Accounting for actions related to each appropriation will commence when the appropriation is authorized for execution. The restructuring is expected to be completed by the end of 2020 , with total costs anticipated to be $1.7 billion to $1.9 billion pre-tax ( $1.35 billion to $1.5 billion after tax). Cash costs are expected to be $900 to $1.0 billion, primarily related to workforce reductions. Non-cash charges are expected to be $800 to $900 pre-tax and will primarily consist of incremental depreciation and asset impairments. Restructuring charges in 2018 are expected to be $1.2 billion to $1.35 billion pre-tax ( $950 to $1.05 billion after tax). The following charges were incurred in connection with the 2018 Global Restructuring Program: Three Months Ended Six Months Ended Cost of products sold: Charges for workforce reductions $ 6 $ 125 Asset impairments — 74 Asset write-offs 31 86 Incremental depreciation 40 68 Other exit costs 8 9 Total 85 362 Marketing, research and general expenses: Charges (adjustments) for workforce reductions (16 ) 270 Other exit costs 31 45 Total 15 315 Nonoperating expense (a) 30 30 Total charges 130 707 Provision for income taxes (24 ) (167 ) Net charges 106 540 Net impact related to equity companies and noncontrolling interests (4 ) (10 ) Net charges attributable to Kimberly-Clark Corporation $ 102 $ 530 (a) Represents non-cash pension settlement charges resulting from restructuring actions. The asset impairments charge measurement was based on the excess of the carrying value of the impacted asset groups over their fair values. These fair values were measured by 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 discounted cash flows represents a level 3 measure under the fair value hierarchy. The following summarizes the restructuring liabilities activity: 2018 Restructuring liabilities at January 1 $ — Charges for workforce reductions and other cash exit costs 446 Cash payments (158 ) Currency and other (13 ) Restructuring liabilities at June 30 $ 275 As of June 30, 2018, restructuring liabilities of $157 are recorded in Accrued expenses and $118 are recorded in Other Liabilities. The cash impact related to restructuring charges is recorded in Operating working capital and Other Operating Activities, as appropriate, in our consolidated cash flow statement.

U.S. Tax Reform

U.S. Tax Reform	6 Months Ended
	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Income Tax Disclosure	U.S. Tax Reform On December 22, 2017, the U.S. government enacted comprehensive tax legislation commonly referred to as the Tax Cuts and Jobs Act (the "Tax Act"). The Tax Act made changes to the U.S. tax code, which included (1) reduced U.S. corporate tax rate from 35 percent to 21 percent, (2) implemented a base erosion and anti-abuse tax, (3) generally eliminated U.S. federal income taxes on dividends from foreign subsidiaries, (4) a new provision designed to tax global intangible low-taxed income ("GILTI") of foreign subsidiaries which allows for the possibility of utilizing foreign tax credits to offset the tax liability (subject to some limitations), (5) a lower effective U.S. tax rate on certain revenues from sources outside the U.S., and (6) a one-time transition tax on certain undistributed earnings of foreign subsidiaries. In the period ended December 31, 2017, we recorded a provisional discrete net tax benefit associated with the Tax Act and related matters. In the first quarter of 2018, we recorded discrete net tax expense of $82 primarily related to new guidance issued affecting tax benefits we recorded in fourth quarter 2017 for certain tax planning actions taken in anticipation of the Tax Act. As of June 30, 2018, the amounts recorded for the Tax Act remain provisional for the transition tax, the remeasurement of deferred taxes, and our reassessment of permanently reinvested earnings, uncertain tax positions and valuation allowances. These estimates may be impacted by further analysis and future clarification and guidance regarding available tax accounting methods and elections, earnings and profits computations, state tax conformity to federal tax changes and the impact of the GILTI provisions. At June 30, 2018, we were not able to reasonably estimate, and therefore have not recorded, deferred taxes for the GILTI provisions. We have not yet determined our policy election with respect to whether to record deferred taxes for basis differences expected to reverse as a result of the GILTI provisions in future periods or use the period cost method. We have, however, included an estimate of the current GILTI impact in our tax provision for 2018.

Fair Value Information

Fair Value Information	6 Months Ended
	Jun. 30, 2018
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 the six months ended June 30, 2018 and for the full year 2017 , there were no significant transfers among level 1, 2, or 3 fair value determinations. Derivative assets and liabilities are measured on a recurring basis at fair value. At June 30, 2018 and December 31, 2017 , derivative assets were $39 and $27 , respectively, and derivative liabilities were $63 and $51 , 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 values of hedging instruments used to manage foreign currency risk are 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 7 . Redeemable preferred securities of subsidiaries are measured on a recurring basis at fair value and were $61 at both June 30, 2018 and December 31, 2017 . They are not traded in active markets. For certain redeemable securities, 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. The fair values of the remaining redeemable securities were based on a discounted cash flow valuation model. Measurement of the redeemable preferred securities is considered a level 3 measurement. Company-owned life insurance ("COLI") assets are measured on a recurring basis at fair value. COLI assets were $69 and $68 at June 30, 2018 and December 31, 2017 , respectively. The COLI policies are a source of funding primarily for our nonqualified employee benefits and are included in other assets. The COLI policies are measured at fair value using the net asset value per share practical expedient, and therefore, are not classified in the fair value hierarchy. The following table includes the fair value of our financial instruments for which disclosure of fair value is required: Fair Value Hierarchy Level Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value June 30, 2018 December 31, 2017 Assets Cash and cash equivalents (a) 1 $ 484 $ 484 $ 616 $ 616 Time deposits (b) 1 229 229 185 185 Liabilities and redeemable securities of subsidiaries Short-term debt (c) 2 638 638 547 547 Long-term debt (d) 2 6,849 7,102 6,878 7,398 (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.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2018
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 EPS. The average number of common shares outstanding is reconciled to those used in the basic and diluted EPS computations as follows: Three Months Ended Six Months Ended (Millions of shares) 2018 2017 2018 2017 Basic 348.8 354.4 349.6 355.2 Dilutive effect of stock options and restricted share unit awards 1.5 2.3 1.7 2.4 Diluted 350.3 356.7 351.3 357.6 The impact of options outstanding that were not included in the computation of diluted EPS because their exercise price was greater than the average market price of the common shares was insignificant. The number of common shares outstanding as of June 30, 2018 and 2017 was 347.9 million and 353.4 million , respectively.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2018
Equity [Abstract]
Stockholders' Equity	Stockholders' Equity (Deficit) Set forth below is a reconciliation for the six months ended June 30, 2018 of the carrying amount of total stockholders' equity from the beginning of the period to the end of the period. Stockholders' Equity (Deficit) Attributable to The Corporation Noncontrolling Interests Balance at December 31, 2017 $ 629 $ 253 Net Income 548 12 Other comprehensive income, net of tax (147 ) (10 ) Stock-based awards exercised or vested 24 — Recognition of stock-based compensation 25 — Shares repurchased (447 ) — Dividends declared (699 ) (20 ) Other 10 — Balance at June 30, 2018 $ (57 ) $ 235 During the six months ended June 30, 2018 , we repurchased 3.9 million shares at a total cost of $427 pursuant to a share repurchase program authorized by our Board of Directors. 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 would be removed from AOCI and reported as part of the gain or loss on the sale or liquidation. 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. The change in net unrealized currency translation for the six months ended June 30, 2018 was primarily due to the weakening of most foreign currencies versus the U.S. dollar, including the Brazilian real, Australian dollar and South Korean won. 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, 2016 $ (2,351 ) $ (1,097 ) $ (31 ) $ 5 Other comprehensive income (loss) before reclassifications 310 (17 ) — (37 ) (Income) loss reclassified from AOCI — 15 (a) — (3 ) Net current period other comprehensive income (loss) 310 (2 ) — (40 ) Balance as of June 30, 2017 $ (2,041 ) $ (1,099 ) $ (31 ) $ (35 ) Balance as of December 31, 2017 $ (1,864 ) $ (976 ) $ (39 ) $ (40 ) Other comprehensive income (loss) before reclassifications (254 ) 27 13 15 (Income) loss reclassified from AOCI 1 39 (a) (1 ) (a) 13 Net current period other comprehensive income (loss) (253 ) 66 12 28 Tax effects reclassified from AOCI (18 ) (125 ) (5 ) (8 ) Balance as of June 30, 2018 $ (2,135 ) $ (1,035 ) $ (32 ) $ (20 ) (a) Included in computation of net periodic benefit costs.

Objectives And Strategies For U

Objectives And Strategies For Using Derivatives	6 Months Ended
	Jun. 30, 2018
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, 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 borrowings. A portion of our balance sheet translation exposure for certain affiliates, which results from changes in translation rates between the affiliates’ functional currencies and the U.S. dollar, is hedged with financial instruments. These instruments are designated as net investment hedges and have an aggregate notional value of $808 at June 30, 2018 . Changes in fair value of net investment hedges are recorded in AOCI as part of the cumulative translation adjustment. At June 30, 2018 and December 31, 2017 , derivative assets were $39 and $27 , respectively, and derivative liabilities were $63 and $51 , respectively, primarily comprised of foreign currency exchange contracts. 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. As of June 30, 2018 , the aggregate notional value of outstanding interest rate contracts designated as fair value hedges was $300 . Fair value hedges resulted in no significant ineffectiveness in the six months ended June 30, 2018 and 2017 , and gains or losses recognized in interest expense for interest rate swaps were not significant. For the six months ended June 30, 2018 and 2017 , no gains or losses were 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 June 30, 2018 , outstanding commodity forward contracts were in place to hedge a limited portion of our estimated requirements of the related underlying commodities in the remainder of 2018 and future periods. As of June 30, 2018 , the aggregate notional values of outstanding foreign exchange and interest rate derivative contracts designated as cash flow hedges were $699 and $100 , respectively. Cash flow hedges resulted in no significant ineffectiveness for the six months ended June 30, 2018 and 2017 , and no significant gains or losses were reclassified into earnings as a result of the discontinuance of cash flow hedges due to the original forecasted transaction no longer being probable of occurring. At June 30, 2018 , 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 June 30, 2018 is June 2020 . Gains or losses on undesignated foreign exchange hedging instruments are immediately recognized in other (income) and expense, net. A loss of $40 and a gain of $19 were recorded in the three months ended June 30, 2018 and 2017 , respectively. A loss of $37 and a gain of $16 were recorded in the six months ended June 30, 2018 and 2017, 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 June 30, 2018 , the notional value of these undesignated derivative instruments was approximately $2.3 billion .

Description Of Business Segment

Description Of Business Segments	6 Months Ended
	Jun. 30, 2018
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 K-C Professional. The reportable segments were determined in accordance with how our chief operating decision maker and 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 ongoing operations of the business segments, including the costs of corporate decisions related to the 2018 Global Restructuring Program described in Note 2. The principal sources of revenue in each global business segment are described below: • Personal Care brands offer our consumers a trusted partner in caring for themselves and their families by delivering confidence, protection and discretion 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 partners with businesses to create Exceptional Workplaces, helping to make them healthier, safer and more productive through a range of solutions and supporting products such as wipers, tissue, towels, apparel, soaps and sanitizers. Our brands, including Kleenex, Scott, WypAll, Kimtech and Jackson Safety, are well-known for quality and trusted to help people around the world work better. Information concerning consolidated operations by business segment is presented in the following tables: Three Months Ended June 30 Six Months Ended June 30 2018 2017 Change 2018 2017 Change NET SALES Personal Care $ 2,257 $ 2,270 -1 % $ 4,564 $ 4,520 +1 % Consumer Tissue 1,472 1,463 +1 % 3,051 2,918 +5 % K-C Professional 861 832 +3 % 1,693 1,621 +4 % Corporate & Other 14 11 N.M. 27 21 N.M. TOTAL NET SALES $ 4,604 $ 4,576 +1 % $ 9,335 $ 9,080 +3 % OPERATING PROFIT Personal Care $ 461 $ 474 -3 % $ 931 $ 961 -3 % Consumer Tissue 207 245 -16 % 456 525 -13 % K-C Professional 165 166 -1 % 323 315 +3 % Corporate & Other (a) (149 ) (68 ) N.M. (781 ) (131 ) N.M. Other (income) and expense, net (a) 10 3 +233 % 8 8 — TOTAL OPERATING PROFIT $ 674 $ 814 -17 % $ 921 $ 1,662 -45 % (a) Corporate & Other and Other (income) and expense, net include income and expense not associated with the business segments, including charges related to the 2018 Global Restructuring Program. Restructuring charges related to the personal care, consumer tissue and K-C Professional business segments were $401 , $159 and $101 , respectively, for the six months ended June 30, 2018. N.M. - Not Meaningful Sales of Principal Products Three Months Ended June 30 Six Months Ended June 30 (Billions of dollars) 2018 2017 2018 2017 Consumer tissue products $ 1.5 $ 1.5 $ 3.1 $ 2.9 Baby and child care products 1.6 1.6 3.2 3.2 Away-from-home professional products 0.9 0.8 1.7 1.6 All other 0.6 0.7 1.3 1.4 Consolidated $ 4.6 $ 4.6 $ 9.3 $ 9.1

Supplemental Balance Sheet Data

Supplemental Balance Sheet Data	6 Months Ended
	Jun. 30, 2018
Statement of Financial Position [Abstract]
Additional Financial Information Disclosure	Supplemental Balance Sheet Data The following schedule presents a summary of inventories by major class: June 30, 2018 December 31, 2017 LIFO Non-LIFO Total LIFO Non-LIFO Total Raw materials $ 86 $ 247 $ 333 $ 87 $ 258 $ 345 Work in process 108 99 207 110 103 213 Finished goods 453 654 1,107 421 684 1,105 Supplies and other — 280 280 — 303 303 647 1,280 1,927 618 1,348 1,966 Excess of FIFO or weighted-average cost over LIFO cost (177 ) — (177 ) (176 ) — (176 ) Total $ 470 $ 1,280 $ 1,750 $ 442 $ 1,348 $ 1,790 Inventories are valued at the lower of cost or net realizable value, determined on the FIFO or weighted-average cost methods, and at the lower of cost or market, determined on the LIFO cost method. The following schedule presents a summary of property, plant and equipment, net: June 30, 2018 December 31, 2017 Land $ 169 $ 173 Buildings 2,791 2,830 Machinery and equipment 14,120 14,612 Construction in progress 383 300 17,463 17,915 Less accumulated depreciation (10,417 ) (10,479 ) Total $ 7,046 $ 7,436

2018 Global Restructuring Pro15

2018 Global Restructuring Program (Tables) - 2018 Global Restructuring Program	6 Months Ended
	Jun. 30, 2018
Restructuring Cost and Reserve
Restructuring and Related Costs	The following charges were incurred in connection with the 2018 Global Restructuring Program: Three Months Ended Six Months Ended Cost of products sold: Charges for workforce reductions $ 6 $ 125 Asset impairments — 74 Asset write-offs 31 86 Incremental depreciation 40 68 Other exit costs 8 9 Total 85 362 Marketing, research and general expenses: Charges (adjustments) for workforce reductions (16 ) 270 Other exit costs 31 45 Total 15 315 Nonoperating expense (a) 30 30 Total charges 130 707 Provision for income taxes (24 ) (167 ) Net charges 106 540 Net impact related to equity companies and noncontrolling interests (4 ) (10 ) Net charges attributable to Kimberly-Clark Corporation $ 102 $ 530
Restructuring Reserve [Roll Forward]
Schedule of Restructuring Reserve by Type of Cost	The following summarizes the restructuring liabilities activity: 2018 Restructuring liabilities at January 1 $ — Charges for workforce reductions and other cash exit costs 446 Cash payments (158 ) Currency and other (13 ) Restructuring liabilities at June 30 $ 275 As of June 30, 2018, restructuring liabilities of $157 are recorded in Accrued expenses and $118 are recorded in Other Liabilities. The cash impact related to restructuring charges is recorded in Operating working capital and Other Operating Activities, as appropriate, in our consolidated cash flow statement.

Fair Value Information (Tables)

Fair Value Information (Tables)	6 Months Ended
	Jun. 30, 2018
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 Hierarchy Level Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value June 30, 2018 December 31, 2017 Assets Cash and cash equivalents (a) 1 $ 484 $ 484 $ 616 $ 616 Time deposits (b) 1 229 229 185 185 Liabilities and redeemable securities of subsidiaries Short-term debt (c) 2 638 638 547 547 Long-term debt (d) 2 6,849 7,102 6,878 7,398 (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.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2018
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: Three Months Ended Six Months Ended (Millions of shares) 2018 2017 2018 2017 Basic 348.8 354.4 349.6 355.2 Dilutive effect of stock options and restricted share unit awards 1.5 2.3 1.7 2.4 Diluted 350.3 356.7 351.3 357.6

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2018
Equity [Abstract]
Roll Forward Of Stockholders' Equity	Set forth below is a reconciliation for the six months ended June 30, 2018 of the carrying amount of total stockholders' equity from the beginning of the period to the end of the period. Stockholders' Equity (Deficit) Attributable to The Corporation Noncontrolling Interests Balance at December 31, 2017 $ 629 $ 253 Net Income 548 12 Other comprehensive income, net of tax (147 ) (10 ) Stock-based awards exercised or vested 24 — Recognition of stock-based compensation 25 — Shares repurchased (447 ) — Dividends declared (699 ) (20 ) Other 10 — Balance at June 30, 2018 $ (57 ) $ 235
Schedule of Accumulated Other Comprehensive Income (Loss), Attributable to Kimberly-Clark Corporation	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, 2016 $ (2,351 ) $ (1,097 ) $ (31 ) $ 5 Other comprehensive income (loss) before reclassifications 310 (17 ) — (37 ) (Income) loss reclassified from AOCI — 15 (a) — (3 ) Net current period other comprehensive income (loss) 310 (2 ) — (40 ) Balance as of June 30, 2017 $ (2,041 ) $ (1,099 ) $ (31 ) $ (35 ) Balance as of December 31, 2017 $ (1,864 ) $ (976 ) $ (39 ) $ (40 ) Other comprehensive income (loss) before reclassifications (254 ) 27 13 15 (Income) loss reclassified from AOCI 1 39 (a) (1 ) (a) 13 Net current period other comprehensive income (loss) (253 ) 66 12 28 Tax effects reclassified from AOCI (18 ) (125 ) (5 ) (8 ) Balance as of June 30, 2018 $ (2,135 ) $ (1,035 ) $ (32 ) $ (20 ) (a) Included in computation of net periodic benefit costs.

Description Of Business Segme19

Description Of Business Segments (Tables)	6 Months Ended
	Jun. 30, 2018
Segment Reporting [Abstract]
Information Concerning Consolidated Operations by Business Segment	Information concerning consolidated operations by business segment is presented in the following tables: Three Months Ended June 30 Six Months Ended June 30 2018 2017 Change 2018 2017 Change NET SALES Personal Care $ 2,257 $ 2,270 -1 % $ 4,564 $ 4,520 +1 % Consumer Tissue 1,472 1,463 +1 % 3,051 2,918 +5 % K-C Professional 861 832 +3 % 1,693 1,621 +4 % Corporate & Other 14 11 N.M. 27 21 N.M. TOTAL NET SALES $ 4,604 $ 4,576 +1 % $ 9,335 $ 9,080 +3 % OPERATING PROFIT Personal Care $ 461 $ 474 -3 % $ 931 $ 961 -3 % Consumer Tissue 207 245 -16 % 456 525 -13 % K-C Professional 165 166 -1 % 323 315 +3 % Corporate & Other (a) (149 ) (68 ) N.M. (781 ) (131 ) N.M. Other (income) and expense, net (a) 10 3 +233 % 8 8 — TOTAL OPERATING PROFIT $ 674 $ 814 -17 % $ 921 $ 1,662 -45 % (a) Corporate & Other and Other (income) and expense, net include income and expense not associated with the business segments, including charges related to the 2018 Global Restructuring Program. Restructuring charges related to the personal care, consumer tissue and K-C Professional business segments were $401 , $159 and $101 , respectively, for the six months ended June 30, 2018. N.M. - Not Meaningful
Sales of Principal Products	Sales of Principal Products Three Months Ended June 30 Six Months Ended June 30 (Billions of dollars) 2018 2017 2018 2017 Consumer tissue products $ 1.5 $ 1.5 $ 3.1 $ 2.9 Baby and child care products 1.6 1.6 3.2 3.2 Away-from-home professional products 0.9 0.8 1.7 1.6 All other 0.6 0.7 1.3 1.4 Consolidated $ 4.6 $ 4.6 $ 9.3 $ 9.1

Summary of Balance Sheet Data (

Summary of Balance Sheet Data (Tables)	6 Months Ended
	Jun. 30, 2018
Statement of Financial Position [Abstract]
Schedule of Inventory, Current	The following schedule presents a summary of inventories by major class: June 30, 2018 December 31, 2017 LIFO Non-LIFO Total LIFO Non-LIFO Total Raw materials $ 86 $ 247 $ 333 $ 87 $ 258 $ 345 Work in process 108 99 207 110 103 213 Finished goods 453 654 1,107 421 684 1,105 Supplies and other — 280 280 — 303 303 647 1,280 1,927 618 1,348 1,966 Excess of FIFO or weighted-average cost over LIFO cost (177 ) — (177 ) (176 ) — (176 ) Total $ 470 $ 1,280 $ 1,750 $ 442 $ 1,348 $ 1,790
Property, Plant and Equipment	The following schedule presents a summary of property, plant and equipment, net: June 30, 2018 December 31, 2017 Land $ 169 $ 173 Buildings 2,791 2,830 Machinery and equipment 14,120 14,612 Construction in progress 383 300 17,463 17,915 Less accumulated depreciation (10,417 ) (10,479 ) Total $ 7,046 $ 7,436

Accounting Policies Narrative (

Accounting Policies Narrative (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2018	Jun. 30, 2017
U.S. Tax Cuts and Jobs Act
Product Information
Tax effects reclassified from AOCI	$ 0
Sales | K-C Argentina
Product Information
Net Sales of K-C Argentina		2.00%	2.00%

2018 Global Restructuring Pro22

2018 Global Restructuring Program Narrative (Details) - 2018 Global Restructuring Program $ in Millions	3 Months Ended	6 Months Ended	36 Months Ended
	Jun. 30, 2018USD ($)	Jun. 30, 2018USD ($)	Dec. 31, 2020USD ($)Employee	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Restructuring Cost and Reserve
Restructuring Reserve	$ 275	$ 275			$ 0
After Tax
Restructuring Cost and Reserve
Restructuring Charges	106	540
Before Tax
Restructuring Cost and Reserve
Restructuring Charges	130	707
Accrued Expenses
Restructuring Cost and Reserve
Restructuring Reserve	157	157
Other Liabilities
Restructuring Cost and Reserve
Restructuring Reserve	$ 118	$ 118
Minimum | Scenario, Forecast
Restructuring Cost and Reserve
Expected Number of Positions Eliminated | Employee			5,000
Minimum | After Tax | Scenario, Forecast
Restructuring Cost and Reserve
Restructuring and Related Cost, Expected Cost			$ 1,350	$ 950
Minimum | Before Tax | Scenario, Forecast
Restructuring Cost and Reserve
Restructuring and Related Cost, Expected Cost			1,700	1,200
Minimum | Cash charges | Scenario, Forecast
Restructuring Cost and Reserve
Restructuring and Related Cost, Expected Cost			900
Minimum | Non-cash charges | Before Tax | Scenario, Forecast
Restructuring Cost and Reserve
Restructuring and Related Cost, Expected Cost			$ 800
Maximum | Scenario, Forecast
Restructuring Cost and Reserve
Expected Number of Positions Eliminated | Employee			5,500
Maximum | After Tax | Scenario, Forecast
Restructuring Cost and Reserve
Restructuring and Related Cost, Expected Cost			$ 1,500	1,050
Maximum | Before Tax | Scenario, Forecast
Restructuring Cost and Reserve
Restructuring and Related Cost, Expected Cost			1,900	$ 1,350
Maximum | Cash charges | Scenario, Forecast
Restructuring Cost and Reserve
Restructuring and Related Cost, Expected Cost			1,000
Maximum | Non-cash charges | Before Tax | Scenario, Forecast
Restructuring Cost and Reserve
Restructuring and Related Cost, Expected Cost			$ 900

Restructuring and Related Activ

Restructuring and Related Activities (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Restructuring Cost and Reserve
Asset impairments				$ 74	$ 0
Provision for income taxes		$ (138)	$ (202)	(242)	$ (409)
2018 Global Restructuring Program
Restructuring Cost and Reserve
Provision for income taxes		(24)		(167)
2018 Global Restructuring Program | Charges for workforce reductions
Restructuring Cost and Reserve
Restructuring Charges				446
2018 Global Restructuring Program | After Tax
Restructuring Cost and Reserve
Restructuring Charges		106		540
2018 Global Restructuring Program | After Tax | Kimberly-Clark Corporation
Restructuring Cost and Reserve
Restructuring Charges		102		530
2018 Global Restructuring Program | After Tax | Equity Companies and Noncontrolling Interests
Restructuring Cost and Reserve
Restructuring Charges		(4)		(10)
2018 Global Restructuring Program | Before Tax
Restructuring Cost and Reserve
Restructuring Charges		130		707
2018 Global Restructuring Program | Cost of Sales | Before Tax
Restructuring Cost and Reserve
Charges (adjustments) for workforce reductions		6		125
Asset impairments		0		74
Incremental depreciation		40		68
Other exit costs		8		9
Restructuring Charges		85		362
2018 Global Restructuring Program | Cost of Sales | Before Tax | Asset write-offs
Restructuring Cost and Reserve
Restructuring Charges		31		86
2018 Global Restructuring Program | Marketing, Research and General Expenses | Before Tax
Restructuring Cost and Reserve
Charges (adjustments) for workforce reductions		(16)		270
Other exit costs		31		45
Restructuring Charges		15		315
2018 Global Restructuring Program | Nonoperating (income) expense | Before Tax
Restructuring Cost and Reserve
Nonoperating expense	[1]	$ 30		$ 30
[1]	Represents non-cash pension settlement charges resulting from restructuring actions.

2018 Global Restructuring Pro24

2018 Global Restructuring Program Restructuring Reserve [Roll Forward] (Details) - 2018 Global Restructuring Program $ in Millions	6 Months Ended
	Jun. 30, 2018USD ($)
Restructuring Cost and Reserve
Restructuring liabilities - January 1	$ 0
Cash payments	(158)
Currency and other	(13)
Restructuring liabilities - June 30	275
Workforce reductions and other exit costs
Restructuring Cost and Reserve
Charges for workforce reductions and other cash exit costs	$ 446

U.S. Tax Reform U.S. Tax Reform

U.S. Tax Reform U.S. Tax Reform (Narrative) (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
U.S. Tax Reform Related Matters
U.S. Federal Statutory Income Tax Rate	21.00%	35.00%
U.S. Tax Cuts and Jobs Act
U.S. Tax Reform Related Matters
Other Tax Expense (Benefit)	$ 82

Fair Value Information (Narrati

Fair Value Information (Narrative) (Details) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Redeemable Preferred Securities Of Subsidiaries Fair Value Disclosure	$ 61	$ 61
Fair Value, Measurements, Recurring | Net Asset Value or Its Equivalent
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Company-owned life insurance (“COLI”)	69	68
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Derivatives Assets	39	27
Derivatives Liability	$ 63	$ 51

Fair Value Information (Fair Va

Fair Value Information (Fair Value Of Financial Instruments) (Details) - USD ($) $ in Millions		Jun. 30, 2018	Dec. 31, 2017
Carrying (Reported) Amount, Fair Value Disclosure | Fair Value, Inputs, Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Cash and cash equivalents	[1]	$ 484	$ 616
Time deposits	[2]	229	185
Carrying (Reported) Amount, Fair Value Disclosure | Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Short-term debt	[3]	638	547
Long-term debt	[4]	6,849	6,878
Estimated Fair Value, Fair Value Disclosure | Fair Value, Inputs, Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Cash and cash equivalents	[1]	484	616
Time deposits	[2]	229	185
Estimated Fair Value, Fair Value Disclosure | Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Short-term debt	[3]	638	547
Long-term debt	[4]	$ 7,102	$ 7,398
[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.

Earnings Per Share (Narrative)

Earnings Per Share (Narrative) (Details) - shares shares in Millions	Jun. 30, 2018	Jun. 30, 2017
Earnings Per Share [Abstract]
Common shares outstanding	347.9	353.4

Earnings Per Share (Average Com

Earnings Per Share (Average Common Shares Outstanding Basic And Diluted) (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Average Common Shares Outstanding Basic and Diluted
Basic	348.8	354.4	349.6	355.2
Dilutive effect of stock options and restricted share unit awards	1.5	2.3	1.7	2.4
Diluted	350.3	356.7	351.3	357.6

Stockholders' Equity (Narrative

Stockholders' Equity (Narrative) (Details) shares in Millions, $ in Millions	6 Months Ended
	Jun. 30, 2018USD ($)shares
Equity, Class of Treasury Stock
Repurchased shares | shares	3.9
Repurchased shares, total cost | $	$ 427

Stockholders' Equity (Component

Stockholders' Equity (Components Of Stockholders' Equity) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Kimberly-Clark Corporation	$ (57)		$ (57)		$ 629
Noncontrolling Interests	235		235		$ 253
Increase (Decrease) in Stockholders' Equity
Net Income (Loss) Attributable to Parent	$ 455	$ 531	548	$ 1,094
Kimberly-Clark Corporation
Increase (Decrease) in Stockholders' Equity
Net Income (Loss) Attributable to Parent			548
Other comprehensive income, net of tax			(147)
Stock-based awards exercised or vested			24
Recognition of stock-based compensation			25
Shares repurchased			(447)
Dividends declared			(699)
Other			10
Noncontrolling Interests
Increase (Decrease) in Stockholders' Equity
Net Income			12
Other comprehensive income, net of tax			(10)
Stock-based awards exercised or vested			0
Recognition of stock-based compensation			0
Shares repurchased			0
Dividends declared			(20)
Other			$ 0

Stockholders' Equity (Compone32

Stockholders' Equity (Components of Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018		Jun. 30, 2017
Net current period other comprehensive income (loss)		$ (381)	$ 55	$ (264)		$ 322
Net current period other comprehensive income (loss)		79	(1)	79		(3)
Defined Benefit Pension Plans
Defined benefit and other postretirement benefit plans - Beginning balance				(976)		(1,097)
Other comprehensive income/(loss) before reclassifications				27		(17)
(Income)/loss reclassified from AOCI	[1]			39		15
Net current period other comprehensive income (loss)				66		(2)
Tax effects reclassified from AOCI				(125)
Defined benefit and other postretirement benefit plans - Ending balance		(1,035)	(1,099)	(1,035)		(1,099)
Other Postretirement Benefit Plans
Defined benefit and other postretirement benefit plans - Beginning balance				(39)		(31)
Other comprehensive income/(loss) before reclassifications				13		0
(Income)/loss reclassified from AOCI				(1)	[1]	0
Net current period other comprehensive income (loss)				12		0
Tax effects reclassified from AOCI				(5)
Defined benefit and other postretirement benefit plans - Ending balance		(32)	(31)	(32)		(31)
Cash Flow Hedges and Other
Cash flow hedge and other - Beginning balance				(40)		5
Other comprehensive income/(loss) before reclassifications				15		(37)
(Income)/loss reclassified from AOCI				13		(3)
Net current period other comprehensive income (loss)				28		(40)
Tax effects reclassified from AOCI				(8)
Cash flow hedge and other - Ending balance		(20)	(35)	(20)		(35)
Unrealized Translation
Unrealized translation - Beginning balance				(1,864)		(2,351)
Other comprehensive income/(loss) before reclassifications				(254)		310
(Income)/loss reclassified from AOCI				1		0
Net current period other comprehensive income (loss)				(253)		310
Tax effects reclassified from AOCI				(18)
Unrealized translation - Ending balance		$ (2,135)	$ (2,041)	$ (2,135)		$ (2,041)
[1]	Included in computation of net periodic benefit costs.

Objectives And Strategies For33

Objectives And Strategies For Using Derivatives (Narratives) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss)
Gain (loss) on undesignated foreign exchange hedging instruments	$ (40,000,000)	$ 19,000,000	$ (37,000,000)	$ 16,000,000
Foreign currency exchange contracts | Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss)
Aggregate notional values of outstanding derivatives	2,300,000,000		2,300,000,000
Net Investment Hedging
Derivative Instruments, Gain (Loss)
Aggregate notional values of outstanding derivatives	808,000,000		$ 808,000,000
Fair Value Hedging
Derivative Instruments, Gain (Loss)
Fair value hedge ineffectiveness assertion			Fair value hedges resulted in no significant ineffectiveness in the six months ended June 30, 2018 and 2017
Gain (loss) recognized in earnings as a result of hedge not qualifying as a fair value hedge			$ 0	$ 0
Fair Value Hedging | Interest Rate Contract
Derivative Instruments, Gain (Loss)
Aggregate notional values of outstanding derivatives	300,000,000		$ 300,000,000
Cash Flow Hedging
Derivative Instruments, Gain (Loss)
Cash flow hedge ineffectiveness assertion			Cash flow hedges resulted in no significant ineffectiveness for the six months ended June 30, 2018 and 2017
Maximum Maturity Date			Jun. 30, 2020
Cash Flow Hedging | Interest Rate Contract
Derivative Instruments, Gain (Loss)
Aggregate notional values of outstanding derivatives	100,000,000		$ 100,000,000
Cash Flow Hedging | Foreign currency exchange contracts
Derivative Instruments, Gain (Loss)
Aggregate notional values of outstanding derivatives	699,000,000		699,000,000
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2
Derivative Instruments, Gain (Loss)
Derivative Asset	39,000,000		39,000,000		$ 27,000,000
Derivative Liability	$ 63,000,000		$ 63,000,000		$ 51,000,000

Description Of Business Segme34

Description Of Business Segments (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Net Sales		$ 4,604	$ 4,576	$ 9,335	$ 9,080
Sales Revenue, Net, Percent Change		1.00%		3.00%
Operating Profit		$ 674	814	$ 921	1,662
Other (income) and expense, net		$ 10	3	$ 8	8
Operating Profit, Percent Change		(17.00%)		(45.00%)
2018 Global Restructuring Program | Before Tax
Restructuring Charges		$ 130		$ 707
Personal Care
Net Sales		$ 2,257	2,270	$ 4,564	4,520
Sales Revenue, Net, Percent Change		(1.00%)		1.00%
Operating Profit		$ 461	474	$ 931	961
Operating Profit, Percent Change		(3.00%)		(3.00%)
Personal Care | 2018 Global Restructuring Program | Before Tax
Restructuring Charges				$ 401
Consumer Tissue
Net Sales		$ 1,472	1,463	$ 3,051	2,918
Sales Revenue, Net, Percent Change		1.00%		5.00%
Operating Profit		$ 207	245	$ 456	525
Operating Profit, Percent Change		(16.00%)		(13.00%)
Consumer Tissue | 2018 Global Restructuring Program | Before Tax
Restructuring Charges				$ 159
K-C Professional
Net Sales		$ 861	832	$ 1,693	1,621
Sales Revenue, Net, Percent Change		3.00%		4.00%
Operating Profit		$ 165	166	$ 323	315
Operating Profit, Percent Change		(1.00%)		3.00%
K-C Professional | 2018 Global Restructuring Program | Before Tax
Restructuring Charges				$ 101
Corporate and Other
Net Sales		$ 14	11	27	21
Operating Profit	[1]	(149)	(68)	(781)	(131)
Other (income) and expense, net
Other (income) and expense, net	[1]	$ 10	$ 3	$ 8	$ 8
Operating Profit, Percent Change		233.00%		0.00%
[1]	Corporate & Other and Other (income) and expense, net include income and expense not associated with the business segments, including charges related to the 2018 Global Restructuring Program. Restructuring charges related to the personal care, consumer tissue and K-C Professional business segments were $401, $159 and $101, respectively, for the six months ended June 30, 2018.

Description Of Business Segme35

Description Of Business Segments Sales of Principle Products (Details) - USD ($) $ in Billions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Consolidated
Sales Revenue, Net	$ 4.6	$ 4.6	$ 9.3	$ 9.1
Consumer Tissue Products
Consolidated
Sales Revenue, Net	1.5	1.5	3.1	2.9
Baby and Child Care Products
Consolidated
Sales Revenue, Net	1.6	1.6	3.2	3.2
Away-from-home Professional Products
Consolidated
Sales Revenue, Net	0.9	0.8	1.7	1.6
All Other
Consolidated
Sales Revenue, Net	$ 0.6	$ 0.7	$ 1.3	$ 1.4

Supplemental Balance Sheet Da36

Supplemental Balance Sheet Data - Inventory (Details) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Raw materials	$ 333	$ 345
Work in process	207	213
Finished goods	1,107	1,105
Supplies and other	280	303
Inventory, Gross	1,927	1,966
Excess of FIFO or weighted-average cost over LIFO cost	(177)	(176)
Total	1,750	1,790
LIFO
Raw materials	86	87
Work in process	108	110
Finished goods	453	421
Supplies and other	0	0
Inventory, Gross	647	618
Excess of FIFO or weighted-average cost over LIFO cost	(177)	(176)
Total	470	442
Non-LIFO
Raw materials	247	258
Work in process	99	103
Finished goods	654	684
Supplies and other	280	303
Inventory, Gross	1,280	1,348
Excess of FIFO or weighted-average cost over LIFO cost	0	0
Total	$ 1,280	$ 1,348

Supplemental Balance Sheet Da37

Supplemental Balance Sheet Data - Property Plant and Equipment (Details) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Property, Plant and Equipment
Land	$ 169	$ 173
Buildings	2,791	2,830
Machinery and equipment	14,120	14,612
Construction in progress	383	300
Property, Plant and Equipment, Gross	17,463	17,915
Less accumulated depreciation	(10,417)	(10,479)
Total	$ 7,046	$ 7,436