Kimberly-Clark (KMB) 10-Q 22 Oct 20 2020 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020	Oct. 15, 2020
Entity Information [Line Items]
Document Fiscal Year Focus		2020
Amendment Flag		false
Entity Common Stock, Shares Outstanding			340,136,715
Document Type		10-Q
Document Quarterly Report		true
Document Period End Date		Sep. 30, 2020
Document Transition Report		false
Entity File Number		1-225
Entity Registrant Name		KIMBERLY CLARK CORPORATON
Entity Incorporation, State or Country Code		DE
Entity Tax Identification Number		39-0394230
Entity Address, Address Line One		P.O. Box 619100
Entity Address, City or Town		Dallas,
Entity Address, State or Province		TX
Entity Address, Postal Zip Code		75261-9100
Entity Current Reporting Status		Yes
Entity Interactive Data Current		Yes
Entity Shell Company		false
Entity Filer Category		Large Accelerated Filer
City Area Code		972
Local Phone Number		281-1200
Entity Small Business		false
Entity Emerging Growth Company		false
Entity Central Index Key		0000055785
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus		Q3
Common Stock | NEW YORK STOCK EXCHANGE, INC.
Entity Information [Line Items]
Security Exchange Name		NYSE
Title of 12(b) Security		Common Stock
Trading Symbol		KMB
0.625% Notes Due 2024 [Member] | NEW YORK STOCK EXCHANGE, INC.
Entity Information [Line Items]
Security Exchange Name		NYSE
Title of 12(b) Security		0.625% Notes due 2024
Trading Symbol		KMB24

Consolidated Income Statement

Consolidated Income Statement - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Statement [Abstract]
Net Sales	$ 4,683	$ 4,640	$ 14,304	$ 13,867
Cost of products sold	3,093	3,085	9,146	9,398
Gross Profit	1,590	1,555	5,158	4,469
Marketing, research and general expenses	919	815	2,636	2,395
Other (income) and expense, net	5	(175)	27	(166)
Operating Profit	666	915	2,495	2,240
Nonoperating expense	(40)	(11)	(57)	(33)
Interest income	2	3	6	8
Interest expense	(62)	(66)	(188)	(198)
Income Before Income Taxes and Equity Interests	566	841	2,256	2,017
Provision for income taxes	(114)	(192)	(510)	(467)
Income Before Equity Interests	452	649	1,746	1,550
Share of net income of equity companies	31	31	104	91
Net income	483	680	1,850	1,641
Net income attributable to noncontrolling interests	(11)	(9)	(37)	(31)
Net Income Attributable to Kimberly-Clark Corporation	$ 472	$ 671	$ 1,813	$ 1,610
Per Share Basis
Basic	$ 1.38	$ 1.95	$ 5.32	$ 4.68
Diluted	$ 1.38	$ 1.94	$ 5.30	$ 4.65

Consolidated Statement Of Compr

Consolidated Statement Of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Statement of Comprehensive Income [Abstract]
Net Income	$ 483	$ 680	$ 1,850	$ 1,641
Other Comprehensive Income (Loss), Net of Tax
Unrealized currency translation adjustments	38	(170)	(236)	(148)
Employee postretirement benefits	0	16	39	38
Other	(3)	2	5	(18)
Total Other Comprehensive Income (Loss), Net of Tax	35	(152)	(192)	(128)
Comprehensive Income	518	528	1,658	1,513
Comprehensive income attributable to noncontrolling interests	(16)	1	(34)	(15)
Comprehensive Income Attributable to Kimberly-Clark Corporation	$ 502	$ 529	$ 1,624	$ 1,498

Consolidated Balance Sheet

Consolidated Balance Sheet - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Current Assets
Cash and cash equivalents	$ 1,518	$ 442
Accounts receivable, net	2,125	2,263
Inventories	1,787	1,790
Other current assets	645	562
Total Current Assets	6,075	5,057
Property, Plant and Equipment, Net	7,497	7,450
Investments in Equity Companies	333	268
Goodwill	1,418	1,467
Other Assets	1,208	1,041
TOTAL ASSETS	16,531	15,283
Current Liabilities
Debt payable within one year	517	1,534
Trade accounts payable	2,995	3,055
Accrued expenses and other current liabilities	2,230	1,978
Dividends payable	360	352
Total Current Liabilities	6,102	6,919
Long-Term Debt	7,851	6,213
Noncurrent Employee Benefits	873	897
Deferred Income Taxes	500	511
Other Liabilities	599	520
Redeemable Preferred Securities of Subsidiaries	29	29
Stockholders' Equity
Preferred Stock, Value, Issued	0	0
Common Stock, Value, Issued	473	473
Additional Paid in Capital	610	556
Treasury Stock, Value	(4,661)	(4,454)
Retained Earnings (Accumulated Deficit)	7,395	6,686
Accumulated Other Comprehensive Income (loss)	(3,482)	(3,294)
Total Kimberly-Clark Corporation Stockholders' Equity	335	(33)
Noncontrolling Interests	242	227
Total Stockholders' Equity	577	194
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 16,531	$ 15,283

Consolidated Balance Sheet Pare

Consolidated Balance Sheet Parenthetical - $ / shares $ / shares in Thousands, shares in Millions	Sep. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Preferred Stock, Par or Stated Value Per Share	$ 0	$ 0
Preferred Stock, Shares Authorized	20,000,000	20,000,000
Preferred Stock, Shares Issued	0	0
Common Stock, Par or Stated Value Per Share	$ 1,250	$ 1,250
Common Stock, Shares Authorized	1,200,000,000	1,200,000,000
Common Stock, Shares, Issued	378,597,000	378,597,000
Treasury Stock, Shares	38,182,000	37,149,000

Statement of Stockholders' Equi

Statement of Stockholders' Equity - USD ($) shares in Thousands, $ in Millions	Total	Common Stock	Additional Paid-in Capital	Treasury Stock	Retained Earnings	AOCI Attributable to Parent	Noncontrolling Interests
Common Stock, Shares, Issued		378,597
Common Stock, Value, Issued		$ 473
Additional Paid in Capital			$ 548
Treasury Stock, Shares				33,635
Treasury Stock, Value				$ (3,956)
Retained Earnings					$ 5,947
Accumulated Other Comprehensive Income (Loss)						$ 3,299
Noncontrolling Interests							$ 241
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ (46)
Net income	1,641				1,610
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest							28
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Excludes Redeemable Interests' Share	1,638
Other Comprehensive Income, Net of Tax	128					112	(17)
Other Comprehensive Income (Loss), Net of Tax, Excludes Redeemable Interests' Share	(129)
Stock-based awards exercised or vested	212		(90)	$ 302
Treasury Stock, Shares, Acquired				4,467
Treasury Stock, Value, Acquired, Cost Method				$ (568)
Recognition of stock-based compensation	72		72
Dividends, Common Stock, Cash	(1,087)				(1,063)
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders							(24)
Other	4		5		(9)	1	1
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures				(2,642)
Common Stock, Shares, Issued		378,597
Common Stock, Value, Issued		$ 473
Additional Paid in Capital			510
Treasury Stock, Shares				34,381
Treasury Stock, Value				$ (4,062)
Retained Earnings					6,170
Accumulated Other Comprehensive Income (Loss)						3,269
Noncontrolling Interests							228
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	50
Net income	680				671
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest							8
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Excludes Redeemable Interests' Share	679
Other Comprehensive Income, Net of Tax	152					142	(10)
Other Comprehensive Income (Loss), Net of Tax, Excludes Redeemable Interests' Share	(152)
Stock-based awards exercised or vested	52		(3)	$ 55
Treasury Stock, Shares, Acquired				1,562
Treasury Stock, Value, Acquired, Cost Method				$ (215)
Recognition of stock-based compensation	24		24
Dividends, Common Stock, Cash	(354)				(354)
Other	(4)		4		(2)	1	3
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures				(483)
Common Stock, Shares, Issued		378,597
Common Stock, Value, Issued		$ 473
Additional Paid in Capital			535
Treasury Stock, Shares				35,460
Treasury Stock, Value				$ (4,222)
Retained Earnings					6,485
Accumulated Other Comprehensive Income (Loss)						3,412
Noncontrolling Interests							229
Total Kimberly-Clark Corporation Stockholders' Equity	88
Common Stock, Shares, Issued		378,597
Common Stock, Value, Issued	473	$ 473
Additional Paid in Capital	$ 556		556
Treasury Stock, Shares	37,149,000,000			37,149
Treasury Stock, Value	$ (4,454)			$ (4,454)
Retained Earnings	6,686				6,686
Accumulated Other Comprehensive Income (Loss)	3,294					3,294
Noncontrolling Interests	227						227
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	194
Total Kimberly-Clark Corporation Stockholders' Equity	(33)
Net income	1,850				1,813
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest							34
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Excludes Redeemable Interests' Share	1,847
Other Comprehensive Income, Net of Tax	192					189	(2)
Other Comprehensive Income (Loss), Net of Tax, Excludes Redeemable Interests' Share	(191)
Stock-based awards exercised or vested	212		(54)	$ 266
Treasury Stock, Shares, Acquired				3,327
Treasury Stock, Value, Acquired, Cost Method				$ (473)
Recognition of stock-based compensation	98		98
Dividends, Common Stock, Cash	(1,112)				(1,095)
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders							(17)
Other	(2)		10		(9)	(1)
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures				(2,294)
Common Stock, Shares, Issued		378,597
Common Stock, Value, Issued		$ 473
Additional Paid in Capital			554
Treasury Stock, Shares				37,574
Treasury Stock, Value				$ (4,545)
Retained Earnings					7,299
Accumulated Other Comprehensive Income (Loss)						3,513
Noncontrolling Interests							227
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	495
Net income	483				472
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest							10
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Excludes Redeemable Interests' Share	482
Other Comprehensive Income, Net of Tax	(35)					(30)	6
Other Comprehensive Income (Loss), Net of Tax, Excludes Redeemable Interests' Share	36
Stock-based awards exercised or vested	77		(2)	$ 79
Treasury Stock, Shares, Acquired				1,280
Treasury Stock, Value, Acquired, Cost Method				$ (195)
Recognition of stock-based compensation	45		45
Dividends, Common Stock, Cash	(365)				(365)
Other	(2)		13		(11)	(1)	(1)
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures				(672)
Common Stock, Shares, Issued		378,597
Common Stock, Value, Issued	473	$ 473
Additional Paid in Capital	$ 610		$ 610
Treasury Stock, Shares	38,182,000,000			38,182
Treasury Stock, Value	$ (4,661)			$ (4,661)
Retained Earnings	7,395				$ 7,395
Accumulated Other Comprehensive Income (Loss)	3,482					$ 3,482
Noncontrolling Interests	242						$ 242
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	577
Total Kimberly-Clark Corporation Stockholders' Equity	$ 335

Statement of Stockholders' Eq_2

Statement of Stockholders' Equity Stockholders' Equity Parentheticals - $ / shares	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Statement of Stockholders' Equity [Abstract]
Dividends declared	$ 1.07	$ 1.03

Consolidated Cash Flow Statemen

Consolidated Cash Flow Statement - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Operating Activities
Net income	$ 1,850	$ 1,641
Depreciation and amortization	606	700
Stock-based compensation	101	74
Deferred income taxes	(30)	8
Net (gains) losses on asset dispositions	67	(155)
Equity companies' earnings (in excess of) less than dividends paid	(53)	(31)
Operating working capital	292	(399)
Postretirement benefits	7	(16)
Other	2	(10)
Cash Provided by Operations	2,842	1,812
Investing Activities
Capital spending	(894)	(867)
Proceeds from dispositions of property	5	206
Investments in time deposits	(509)	(353)
Maturities of time deposits	404	287
Other	17	(40)
Cash Used for Investing	(977)	(767)
Financing Activities
Cash dividends paid	(1,087)	(1,054)
Change in short-term debt	(497)	324
Debt proceeds	1,842	700
Debt repayments	(753)	(705)
Proceeds from exercise of stock options	212	211
Acquisitions of common stock for the treasury	(449)	(544)
Other	(40)	(92)
Cash Used for Financing	(772)	(1,160)
Effect of Exchange Rate Changes on Cash and Cash Equivalents	(17)	(8)
Change in Cash and Cash Equivalents	1,076	(123)
Cash and Cash Equivalents - Beginning of Period	442	539
Cash and Cash Equivalents - End of Period	$ 1,518	$ 416

Accounting Policies

Accounting Policies	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Accounting Policies	Accounting Policies Basis of Presentation The accompanying unaudited interim 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, 2019. The terms "Corporation," "Kimberly-Clark," "K-C," "we," "our" and "us" refer to Kimberly-Clark Corporation and its consolidated subsidiaries. Highly Inflationary Accounting in Argentina GAAP guidance requires the use of highly inflationary accounting for countries whose cumulative three-year inflation exceeds 100 percent. In the second quarter of 2018, published inflation indices indicated that the three-year cumulative inflation in Argentina exceeded 100 percent, and as of July 1, 2018, we elected to adopt highly inflationary accounting 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 have been 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 has been reflected in earnings in Other (income) and expense, net and was not material. As of September 30, 2020, K-C Argentina had a small net peso monetary position. Net sales of K-C Argentina were approximately 1 percent of our consolidated net sales for the nine months ended September 30, 2020 and 2019. Recently Adopted Accounting Standards The Financial Accounting Standards Board (the "FASB") issued Accounting Standards Update ("ASU") No. 2018-15, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40) . The new guidance reduces complexity for the accounting for costs of implementing a cloud computing service arrangement and aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal use software license). We adopted this standard as of January 1, 2020 on a prospective basis. The effects of this standard on our financial position, results of operations and cash flows were not material. In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. This guidance provides temporary optional expedients and exceptions to accounting guidance on contract modifications and hedge accounting to ease entities’ financial reporting burdens as the market transitions from the London Interbank Offered Rate (LIBOR) and other interbank offered rates to alternative reference rates. The guidance was effective upon issuance and generally can be applied through December 31, 2022. The effects of this standard on our financial position, results of operations and cash flows are not expected to be material. Accounting Standards Issued - Not Yet Adopted The FASB issued ASU No. 2019-12, S implifying the Accounting for Income Taxes (Topic 740) . The new guidance simplifies the accounting for income taxes by eliminating certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period, the calculation of the income tax impact of hybrid taxes, tax basis of goodwill after a business combination and recognition of deferred tax liabilities for outside basis differences. It also clarifies and simplifies other aspects of the accounting for income taxes. For public companies, the amendments in this ASU are effective for fiscal years beginning after December 15, 2020 and interim periods within those fiscal years. Early adoption is permitted in interim or annual periods with any adjustments reflected as of the beginning of the annual period that includes that interim period. Additionally, entities that elect early adoption must adopt all the amendments in the same period. Amendments are to be applied prospectively, except for certain amendments that are to be applied either retrospectively or with a modified retrospective approach through a cumulative effect adjustment recorded to retained earnings. The effects of this standard on our financial position, results of operations or cash flows are not expected to be material.

2018 Global Restructuring Progr

2018 Global Restructuring Program	9 Months Ended
	Sep. 30, 2020
2018 Global Restructuring Program
Restructuring Cost and Reserve
Restructuring and Related Activities Disclosure	2018 Global Restructuring Program In January 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 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 in 2021, with total costs anticipated to be t oward the high end of the range of $1.7 billion to $1.9 billion pre-tax ($1.3 billion to $1.4 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, asset write-offs and pension settlement and curtailment charges. The following net charges were incurred in connection with the 2018 Global Restructuring Program: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Cost of products sold: Charges for workforce reductions $ 15 $ 1 $ 16 $ 33 Asset write-offs 50 18 59 45 Incremental depreciation 18 57 86 189 Other exit costs 24 28 76 64 Total 107 104 237 331 Marketing, research and general expenses: Charges (adjustments) for workforce reductions 1 (4) (1) (12) Other exit costs 24 25 76 78 Total 25 21 75 66 Other (income) and expense, net (1) (181) (1) (182) Nonoperating expense 26 — 26 — Total charges 157 (56) 337 215 Provision for income taxes (50) 23 (83) (35) Net charges 107 (33) 254 180 Net impact related to equity companies and noncontrolling interests — — (1) 1 Net charges attributable to Kimberly-Clark Corporation $ 107 $ (33) $ 253 $ 181 Other (income) and expense, net in 2019 includes a pre-tax gain of approximately $182 on the sale of a manufacturing facility and associated real estate which were disposed of as part of the restructuring. The following summarizes the restructuring liabilities activity: 2020 2019 Restructuring liabilities at January 1 $ 132 $ 210 Charges for workforce reductions and other cash exit costs 162 159 Cash payments (177) (230) Currency and other (3) 3 Restructuring liabilities at September 30 $ 114 $ 142 Restructuring liabilities of $80 and $84 are recorded in Accrued expenses and other current liabilities and $34 and $58 are recorded in Other Liabilities as of September 30, 2020 and 2019, respectively. The impact related to restructuring charges is recorded in Operating working capital and Other Operating Activities, as appropriate, in our consolidated cash flow statements.

Fair Value Information

Fair Value Information	9 Months Ended
	Sep. 30, 2020
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 nine months ended September 30, 2020 and for the full year 2019, there were no significant transfers to or from level 3 fair value determinations. Derivative assets and liabilities are measured on a recurring basis at fair value. At September 30, 2020 and December 31, 2019, derivative assets were $70 and $34, respectively, and derivative liabilities were $32 and $44, 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 $29 as of September 30, 2020 and December 31, 2019. They are not traded in active markets. The fair values of the 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 $71 and $76 at September 30, 2020 and December 31, 2019, 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 September 30, 2020 December 31, 2019 Assets Cash and cash equivalents (a) 1 $ 1,518 $ 1,518 $ 442 $ 442 Time deposits (b) 1 380 380 275 275 Liabilities Short-term debt (c) 2 260 260 775 775 Long-term debt (d) 2 8,108 9,590 6,972 7,877 (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. Cash of approximately $600 from debt issued to partially fund the acquisition of Softex Indonesia represented restricted cash as of September 30, 2020 as the debt was subject to a special mandatory redemption provision. This provision lapsed upon the close of the acquisition. See Note 11 for details. (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	9 Months Ended
	Sep. 30, 2020
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 Nine Months Ended (Millions of shares) 2020 2019 2020 2019 Basic 341.0 343.8 341.1 344.1 Dilutive effect of stock options and restricted share unit awards 1.3 2.1 1.2 1.9 Diluted 342.3 345.9 342.3 346.0 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 September 30, 2020 and 2019 was 340.4 million and 343.1 million, respectively.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2020
Equity [Abstract]
Stockholders' Equity	Stockholders' Equity 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 Accumulated Other Comprehensive Income ("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 nine months ended September 30, 2020 was primarily due to weakening of foreign currencies versus the U.S. dollar, particularly the Brazilian real. 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, 2018 $ (2,297) $ (1,017) $ 12 $ 3 Other comprehensive income (loss) before reclassifications (132) 1 16 (6) (Income) loss reclassified from AOCI — 22 (a) (1) (a) (13) Net current period other comprehensive income (loss) (132) 23 15 (19) Balance as of September 30, 2019 $ (2,429) $ (994) $ 27 $ (16) Balance as of December 31, 2019 $ (2,271) $ (979) $ (13) $ (31) Other comprehensive income (loss) before (233) (19) 3 15 (Income) loss reclassified from AOCI — 57 (a) (1) (a) (10) Net current period other comprehensive income (loss) (233) 38 2 5 Balance as of September 30, 2020 $ (2,504) $ (941) $ (11) $ (26) (a) Included in computation of net periodic benefit costs.

Objectives And Strategies For U

Objectives And Strategies For Using Derivatives	9 Months Ended
	Sep. 30, 2020
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. At September 30, 2020 and December 31, 2019, derivative assets were $70 and $34, respectively, and derivative liabilities were $32 and $44, respectively, primarily comprised of foreign currency exchange contracts. Derivative assets are recorded in Other current assets or Other Assets, as appropriate, and derivative liabilities are recorded in Accrued expenses and other current liabilities or Other Liabilities, as appropriate. Foreign Currency Exchange Rate Risk 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 cross-currency swap contracts and certain foreign denominated debt which are designated as net investment 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. Derivative instruments are entered into 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 as cash flow hedges. Interest Rate Risk 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 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. Commodity Price Risk We use derivative instruments, such as forward 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. In addition, we utilize negotiated short-term contract structures, including fixed price contracts, to manage volatility for a portion of our commodity costs. Fair Value Hedges Derivative instruments that are designated and qualify as fair value hedges are predominantly used to manage interest rate risk. The fair values of these interest rate derivative instruments are recorded as an asset or liability, as appropriate, with the offset recorded in Interest expense. The offset to the change in fair values of the related debt is also recorded in Interest expense. 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 September 30, 2020, the aggregate notional values and carrying values of outstanding interest rate contracts designated as fair value hedges were $300 and $323, respectively. For the nine months ended September 30, 2020 and 2019, gains or losses recognized in Interest expense for interest rate swaps were not significant. Cash Flow Hedges For derivative instruments that are designated and qualify as cash flow hedges, 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 income statement line and period that the hedged exposure affects earnings. As of September 30, 2020, 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 2020 and future periods. As of September 30, 2020, the aggregate notional value of outstanding foreign exchange derivative contracts designated as cash flow hedges was $692. For the nine months ended September 30, 2020 and 2019, no significant gains or losses were reclassified into Interest expense, Cost of products sold or Other (income) and expense, net as a result of the discontinuance of cash flow hedges due to the original forecasted transaction no longer being probable of occurring. At September 30, 2020, amounts to be reclassified from AOCI into Interest expense, Cost of products sold or Other (income) and expense, net during the next twelve months are not expected to be material. The maximum maturity of cash flow hedges in place at September 30, 2020 is September 2022. Net Investment Hedges For derivative instruments that are designated and qualify as net investment hedges, the aggregate notional value was $1.5 billion at September 30, 2020. We exclude the interest accruals on cross-currency swap contracts and the forward points on foreign exchange forward contracts from the assessment and measurement of hedge effectiveness. We recognize the interest accruals on cross-currency swap contracts in earnings within Interest expense. We amortize the forward points on foreign exchange contracts into earnings within Interest expense over the life of the hedging relationship. Changes in fair value of net investment hedges are recorded in AOCI and offset the change in the value of the net investment being hedged. For the nine months ended September 30, 2020, unrealized gains of $13 related to net investment hedge fair value changes were recorded in AOCI and no significant amounts were reclassified from AOCI to Interest expense. No significant amounts were excluded from the assessment of net investment, fair value or cash flow hedge effectiveness as of September 30, 2020. Undesignated Hedging Instruments Gains or losses on undesignated foreign exchange hedging instruments are immediately recognized in Other (income) and expense, net. A gain of $23 and loss of $14 were recorded in the three months ended September 30, 2020 and 2019, respectively. A gain of $31 and loss of $27 were recorded in the nine months ended September 30, 2020 and 2019, 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 September 30, 2020, the notional value of these undesignated derivative instruments was approximately $1.7 billion.

Description Of Business Segment

Description Of Business Segments	9 Months Ended
	Sep. 30, 2020
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 and acquisition-related costs associated with the acquisition of Softex Indonesia as described in Note 11. 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 responsibly improve everyday living for families around the world. 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 KleenGuard 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 September 30 Nine Months Ended September 30 2020 2019 Change 2020 2019 Change NET SALES Personal Care $ 2,339 $ 2,305 +1 % $ 6,990 $ 6,866 +2 % Consumer Tissue 1,623 1,484 +9 % 4,991 4,482 +11 % K-C Professional 705 839 -16 % 2,277 2,477 -8 % Corporate & Other 16 12 N.M. 46 42 N.M. TOTAL NET SALES $ 4,683 $ 4,640 +1 % $ 14,304 $ 13,867 +3 % OPERATING PROFIT Personal Care $ 486 $ 490 -1 % $ 1,532 $ 1,459 +5 % Consumer Tissue 318 264 +20 % 1,111 726 +53 % K-C Professional 87 176 -51 % 423 488 -13 % Corporate & Other (a) (220) (190) N.M. (544) (599) N.M. Other (income) and expense, net (a) 5 (175) N.M. 27 (166) N.M. TOTAL OPERATING PROFIT $ 666 $ 915 -27 % $ 2,495 $ 2,240 +11 % (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 and Softex Indonesia acquisition-related costs. Restructuring charges related to the Personal Care, Consumer Tissue and K-C Professional business segments were $57, $59 and $15, respectively, for the three months ended September 30, 2020, $53, $49 and $21, respectively, for the three months ended September 30, 2019, $131, $135 and $41, respectively, for the nine months ended September 30, 2020 and $208, $131 and $52, respectively for the nine months ended September 30, 2019. N.M. - Not Meaningful Sales of Principal Products Three Months Ended September 30 Nine Months Ended September 30 (Billions of dollars) 2020 2019 2020 2019 Baby and child care products 1.6 1.6 4.8 4.7 Consumer tissue products 1.6 1.5 5.0 4.5 Away-from-home professional products 0.7 0.8 2.3 2.5 All other 0.8 0.7 2.2 2.2 Consolidated $ 4.7 $ 4.6 $ 14.3 $ 13.9

Supplemental Balance Sheet Data

Supplemental Balance Sheet Data	9 Months Ended
	Sep. 30, 2020
Statement of Financial Position [Abstract]
Additional Financial Information Disclosure	Supplemental Balance Sheet Data The following schedule presents a summary of inventories by major class: September 30, 2020 December 31, 2019 LIFO Non-LIFO Total LIFO Non-LIFO Total Raw materials $ 124 $ 251 $ 375 $ 85 $ 236 $ 321 Work in process 110 89 199 113 93 206 Finished goods 433 683 1,116 451 696 1,147 Supplies and other — 242 242 — 271 271 667 1,265 1,932 649 1,296 1,945 Excess of FIFO or weighted-average cost over (145) — (145) (155) — (155) Total $ 522 $ 1,265 $ 1,787 $ 494 $ 1,296 $ 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: September 30, 2020 December 31, 2019 Land $ 164 $ 165 Buildings 2,914 2,877 Machinery and equipment 14,094 13,946 Construction in progress 801 851 17,973 17,839 Less accumulated depreciation (10,476) (10,389) Total $ 7,497 $ 7,450

Subsequent Events

Subsequent Events	Oct. 01, 2020
Subsequent Events [Abstract]
Subsequent Events	Subsequent Event - Acquisition On October 1, 2020, we acquired Softex Indonesia, a leader in the fast-growing Indonesian personal care market, in an all-cash transaction for approximately $1.2 billion. This transaction significantly expands our presence in an important developing and emerging market and is a strong strategic fit with our core business. Softex Indonesia generated net sales of approximately $420 in 2019. We financed the transaction through a combination of short-term commercial paper, cash on hand and the issuance of a $600 bond. During the quarter ended September 30, 2020, we recorded acquisition-related costs of $9 in Marketing, research and general expenses. We will consolidate Softex into our financial statements beginning in the fourth quarter of 2020 after completing a purchase price allocation. The consolidated results for Softex Indonesia will be reported as part of our Personal Care business segment on a one-month lag.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Income Tax Disclosure	Income TaxesThe U.S. Internal Revenue Service ("IRS") is currently auditing our federal tax return for the taxable year ended December 31, 2017. As part of this tax audit, the IRS is reviewing our one-time transition tax on certain undistributed earnings of foreign subsidiaries under the Tax Cuts and Jobs Act of 2017. The IRS has proposed an adjustment that would increase the amount of the transition tax owed by us. We believe we have adequate reserves and meritorious defenses and intend to vigorously defend against the proposed adjustment; however, it is expected to take a number of years to reach resolution of this matter.

Commitment and Contingencies

Commitment and Contingencies	9 Months Ended
	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Legal Matters and Contingencies	Legal MattersWe are party to certain legal proceedings relating to our former health care business, Avanos Medical, Inc. ("Avanos", previously Halyard Health, Inc.), as described in our Form 10-K for the year ended December 31, 2019, including consumer class actions, qui tam matters, a shareholder derivative suit, a securities class action and certain subpoena and document requests from the federal government. During the third quarter of 2020, in the California consumer class action Bahamas Surgery Center v. Kimberly-Clark Corporation, et al., the Ninth Circuit Court of Appeals vacated the award against us for compensatory and punitive damages and decertified the class. The court denied the plaintiff’s subsequent appeal requesting a rehearing. The shareholder derivative suit and the securities class action have also been dismissed.

2018 Global Restructuring Pro_2

2018 Global Restructuring Program (Tables) - 2018 Global Restructuring Program	9 Months Ended
	Sep. 30, 2020
Restructuring Cost and Reserve
Restructuring and Related Costs	The following net charges were incurred in connection with the 2018 Global Restructuring Program: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Cost of products sold: Charges for workforce reductions $ 15 $ 1 $ 16 $ 33 Asset write-offs 50 18 59 45 Incremental depreciation 18 57 86 189 Other exit costs 24 28 76 64 Total 107 104 237 331 Marketing, research and general expenses: Charges (adjustments) for workforce reductions 1 (4) (1) (12) Other exit costs 24 25 76 78 Total 25 21 75 66 Other (income) and expense, net (1) (181) (1) (182) Nonoperating expense 26 — 26 — Total charges 157 (56) 337 215 Provision for income taxes (50) 23 (83) (35) Net charges 107 (33) 254 180 Net impact related to equity companies and noncontrolling interests — — (1) 1 Net charges attributable to Kimberly-Clark Corporation $ 107 $ (33) $ 253 $ 181
Restructuring Reserve
Schedule of Restructuring Reserve by Type of Cost	The following summarizes the restructuring liabilities activity: 2020 2019 Restructuring liabilities at January 1 $ 132 $ 210 Charges for workforce reductions and other cash exit costs 162 159 Cash payments (177) (230) Currency and other (3) 3 Restructuring liabilities at September 30 $ 114 $ 142

Fair Value Information (Tables)

Fair Value Information (Tables)	9 Months Ended
	Sep. 30, 2020
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 September 30, 2020 December 31, 2019 Assets Cash and cash equivalents (a) 1 $ 1,518 $ 1,518 $ 442 $ 442 Time deposits (b) 1 380 380 275 275 Liabilities Short-term debt (c) 2 260 260 775 775 Long-term debt (d) 2 8,108 9,590 6,972 7,877 (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. Cash of approximately $600 from debt issued to partially fund the acquisition of Softex Indonesia represented restricted cash as of September 30, 2020 as the debt was subject to a special mandatory redemption provision. This provision lapsed upon the close of the acquisition. See Note 11 for details. (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)	9 Months Ended
	Sep. 30, 2020
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 Nine Months Ended (Millions of shares) 2020 2019 2020 2019 Basic 341.0 343.8 341.1 344.1 Dilutive effect of stock options and restricted share unit awards 1.3 2.1 1.2 1.9 Diluted 342.3 345.9 342.3 346.0

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2020
Equity [Abstract]
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, 2018 $ (2,297) $ (1,017) $ 12 $ 3 Other comprehensive income (loss) before reclassifications (132) 1 16 (6) (Income) loss reclassified from AOCI — 22 (a) (1) (a) (13) Net current period other comprehensive income (loss) (132) 23 15 (19) Balance as of September 30, 2019 $ (2,429) $ (994) $ 27 $ (16) Balance as of December 31, 2019 $ (2,271) $ (979) $ (13) $ (31) Other comprehensive income (loss) before (233) (19) 3 15 (Income) loss reclassified from AOCI — 57 (a) (1) (a) (10) Net current period other comprehensive income (loss) (233) 38 2 5 Balance as of September 30, 2020 $ (2,504) $ (941) $ (11) $ (26) (a) Included in computation of net periodic benefit costs.

Description Of Business Segme_2

Description Of Business Segments (Tables)	9 Months Ended
	Sep. 30, 2020
Revenue from External Customer
Information Concerning Consolidated Operations by Business Segment	Information concerning consolidated operations by business segment is presented in the following tables: Three Months Ended September 30 Nine Months Ended September 30 2020 2019 Change 2020 2019 Change NET SALES Personal Care $ 2,339 $ 2,305 +1 % $ 6,990 $ 6,866 +2 % Consumer Tissue 1,623 1,484 +9 % 4,991 4,482 +11 % K-C Professional 705 839 -16 % 2,277 2,477 -8 % Corporate & Other 16 12 N.M. 46 42 N.M. TOTAL NET SALES $ 4,683 $ 4,640 +1 % $ 14,304 $ 13,867 +3 % OPERATING PROFIT Personal Care $ 486 $ 490 -1 % $ 1,532 $ 1,459 +5 % Consumer Tissue 318 264 +20 % 1,111 726 +53 % K-C Professional 87 176 -51 % 423 488 -13 % Corporate & Other (a) (220) (190) N.M. (544) (599) N.M. Other (income) and expense, net (a) 5 (175) N.M. 27 (166) N.M. TOTAL OPERATING PROFIT $ 666 $ 915 -27 % $ 2,495 $ 2,240 +11 % (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 and Softex Indonesia acquisition-related costs. Restructuring charges related to the Personal Care, Consumer Tissue and K-C Professional business segments were $57, $59 and $15, respectively, for the three months ended September 30, 2020, $53, $49 and $21, respectively, for the three months ended September 30, 2019, $131, $135 and $41, respectively, for the nine months ended September 30, 2020 and $208, $131 and $52, respectively for the nine months ended September 30, 2019. N.M. - Not Meaningful	[1]
Sales of Principal Products	Sales of Principal Products Three Months Ended September 30 Nine Months Ended September 30 (Billions of dollars) 2020 2019 2020 2019 Baby and child care products 1.6 1.6 4.8 4.7 Consumer tissue products 1.6 1.5 5.0 4.5 Away-from-home professional products 0.7 0.8 2.3 2.5 All other 0.8 0.7 2.2 2.2 Consolidated $ 4.7 $ 4.6 $ 14.3 $ 13.9
[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 and Softex Indonesia acquisition-related costs. Restructuring charges related to the Personal Care, Consumer Tissue and K-C Professional business segments were $57, $59 and $15, respectively, for the three months ended September 30, 2020, $53, $49 and $21, respectively, for the three months ended September 30, 2019, $131, $135 and $41, respectively, for the nine months ended September 30, 2020 and $208, $131 and $52, respectively for the nine months ended September 30, 2019.

Summary of Balance Sheet Data (

Summary of Balance Sheet Data (Tables)	9 Months Ended
	Sep. 30, 2020
Statement of Financial Position [Abstract]
Schedule of Inventory, Current	The following schedule presents a summary of inventories by major class: September 30, 2020 December 31, 2019 LIFO Non-LIFO Total LIFO Non-LIFO Total Raw materials $ 124 $ 251 $ 375 $ 85 $ 236 $ 321 Work in process 110 89 199 113 93 206 Finished goods 433 683 1,116 451 696 1,147 Supplies and other — 242 242 — 271 271 667 1,265 1,932 649 1,296 1,945 Excess of FIFO or weighted-average cost over (145) — (145) (155) — (155) Total $ 522 $ 1,265 $ 1,787 $ 494 $ 1,296 $ 1,790
Property, Plant and Equipment	The following schedule presents a summary of property, plant and equipment, net: September 30, 2020 December 31, 2019 Land $ 164 $ 165 Buildings 2,914 2,877 Machinery and equipment 14,094 13,946 Construction in progress 801 851 17,973 17,839 Less accumulated depreciation (10,476) (10,389) Total $ 7,497 $ 7,450

Accounting Policies Narrative (

Accounting Policies Narrative (Details)	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Net sales | K-C Argentina
Accounting Policies
Net sales of K-C Argentina, percent	1.00%	1.00%

2018 Global Restructuring Pro_3

2018 Global Restructuring Program Narrative (Details) - 2018 Global Restructuring Program $ in Millions	3 Months Ended		9 Months Ended		33 Months Ended	48 Months Ended
	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)	Dec. 31, 2021USD ($)Employee	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Restructuring Cost and Reserve
Restructuring Reserve	$ 114	$ 142	$ 114	$ 142	$ 114		$ 132	$ 210
Payments for Restructuring			(177)	(230)
Before Tax
Restructuring Cost and Reserve
Restructuring Charges	157	(56)	337	215	1,700
After Tax
Restructuring Cost and Reserve
Restructuring Charges	107	(33)	254	180	1,300
Accrued Expenses
Restructuring Cost and Reserve
Restructuring Reserve	80	84	80	84	80
Other current liabilities
Restructuring Cost and Reserve
Restructuring Reserve	$ 34	$ 58	$ 34	$ 58	$ 34
Minimum | Scenario, Forecast
Restructuring Cost and Reserve
Expected Number of Positions Eliminated | Employee						5,000
Minimum | Before Tax | Scenario, Forecast
Restructuring Cost and Reserve
Restructuring and Related Cost, Expected Cost						$ 1,700
Minimum | After Tax | Scenario, Forecast
Restructuring Cost and Reserve
Restructuring and Related Cost, Expected Cost						1,300
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 | Before Tax | Scenario, Forecast
Restructuring Cost and Reserve
Restructuring and Related Cost, Expected Cost						$ 1,900
Maximum | After Tax | Scenario, Forecast
Restructuring Cost and Reserve
Restructuring and Related Cost, Expected Cost						1,400
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		9 Months Ended		33 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020
Restructuring Cost and Reserve
Provision for income taxes	$ (114)	$ (192)	$ (510)	$ (467)
2018 Global Restructuring Program
Restructuring Cost and Reserve
Provision for income taxes	(50)	23	(83)	(35)
2018 Global Restructuring Program | Charges for workforce reductions
Restructuring Cost and Reserve
Restructuring Charges			(162)	(159)
2018 Global Restructuring Program | Before Tax
Restructuring Cost and Reserve
Restructuring Charges	(157)	56	(337)	(215)	$ (1,700)
2018 Global Restructuring Program | After Tax
Restructuring Cost and Reserve
Restructuring Charges	(107)	33	(254)	(180)	$ (1,300)
2018 Global Restructuring Program | After Tax | Equity Companies and Noncontrolling Interests
Restructuring Cost and Reserve
Restructuring Charges	0	0	1	(1)
2018 Global Restructuring Program | After Tax | Kimberly-Clark Corporation
Restructuring Cost and Reserve
Restructuring Charges	(107)	33	(253)	(181)
2018 Global Restructuring Program | Cost of Sales | Before Tax
Restructuring Cost and Reserve
Charges (adjustments) for workforce reductions	15	1	16	33
Incremental depreciation	18	57	86	189
Other exit costs	24	28	76	64
Restructuring Charges	(107)	(104)	(237)	(331)
2018 Global Restructuring Program | Cost of Sales | Before Tax | Asset write-offs
Restructuring Cost and Reserve
Restructuring Charges	(50)	(18)	(59)	(45)
2018 Global Restructuring Program | Marketing, Research and General Expenses | Before Tax
Restructuring Cost and Reserve
Charges (adjustments) for workforce reductions	1	(4)	(1)	(12)
Other exit costs	24	25	76	78
Restructuring Charges	(25)	(21)	(75)	(66)
2018 Global Restructuring Program | Other Income | Before Tax
Restructuring Cost and Reserve
Restructuring Charges	1	181	1	182
2018 Global Restructuring Program | Nonoperating expense | Before Tax
Restructuring Cost and Reserve
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement and Curtailment	$ 26	$ 0	$ 26	$ 0

2018 Global Restructuring Pro_4

2018 Global Restructuring Program Restructuring Reserve (Details) - 2018 Global Restructuring Program - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Restructuring Cost and Reserve
Restructuring liabilities - January 1	$ 132	$ 210
Cash payments	(177)	(230)
Currency and other	(3)	3
Restructuring liabilities - September 30	114	142
Workforce reductions and other exit costs
Restructuring Cost and Reserve
Charges for workforce reductions and other cash exit costs	$ 162	$ 159

Fair Value Information (Narrati

Fair Value Information (Narrative) (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019
Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Redeemable Preferred Securities Of Subsidiaries Fair Value Disclosure		$ 29	$ 29
Fair Value, Measurements, Recurring | Net Asset Value or Its Equivalent
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash Surrender Value, Fair Value Disclosure	$ 71	76
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Derivatives Assets	70	34
Derivatives Liability	$ 32	$ 44

Fair Value Information (Fair Va

Fair Value Information (Fair Value Of Financial Instruments) (Details) - USD ($) $ in Millions		Sep. 30, 2020	Dec. 31, 2019
Carrying (Reported) Amount, Fair Value Disclosure | Fair Value, Inputs, Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Cash and cash equivalents	[1]	$ 1,518	$ 442
Time deposits	[2]	380	275
Carrying (Reported) Amount, Fair Value Disclosure | Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Short-term debt	[3]	260	775
Long-term debt	[4]	8,108	6,972
Estimated Fair Value, Fair Value Disclosure | Fair Value, Inputs, Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Cash and cash equivalents	[1]	1,518	442
Time deposits	[2]	380	275
Estimated Fair Value, Fair Value Disclosure | Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Short-term debt	[3]	260	775
Long-term debt	[4]	$ 9,590	$ 7,877
[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. Cash of approximately $600 from debt issued to partially fund the acquisition of Softex Indonesia represented restricted cash as of September 30, 2020 as the debt was subject to a special mandatory redemption provision. This provision lapsed upon the close of the acquisition. See Note 11 for details.
[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	Sep. 30, 2020	Sep. 30, 2019
Earnings Per Share [Abstract]
Common shares outstanding	340.4	343.1

Earnings Per Share (Average Com

Earnings Per Share (Average Common Shares Outstanding Basic And Diluted) (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Average Common Shares Outstanding Basic and Diluted
Basic	341	343.8	341.1	344.1
Dilutive effect of stock options and restricted share unit awards	1.3	2.1	1.2	1.9
Diluted	342.3	345.9	342.3	346

Stockholders' Equity (Component

Stockholders' Equity (Components of Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Net current period other comprehensive income (loss)		$ 38	$ (170)	$ (236)	$ (148)
Net current period other comprehensive income (loss)		0	16	39	38
Defined Benefit Pension Plans
Defined benefit and other postretirement benefit plans - Beginning balance				(979)	(1,017)
Other comprehensive income/(loss) before reclassifications				(19)	1
(Income)/loss reclassified from AOCI	[1]			57	22
Net current period other comprehensive income (loss)				38	23
Defined benefit and other postretirement benefit plans - Ending balance		(941)	(994)	(941)	(994)
Other Postretirement Benefit Plans
Defined benefit and other postretirement benefit plans - Beginning balance				(13)	12
Other comprehensive income/(loss) before reclassifications				3	16
(Income)/loss reclassified from AOCI	[1]			(1)	(1)
Net current period other comprehensive income (loss)				2	15
Defined benefit and other postretirement benefit plans - Ending balance		(11)	27	(11)	27
Unrealized Translation
Unrealized translation - Beginning balance				(2,271)	(2,297)
Other comprehensive income/(loss) before reclassifications				(233)	(132)
(Income)/loss reclassified from AOCI				0	0
Net current period other comprehensive income (loss)				(233)	(132)
Unrealized translation - Ending balance		(2,504)	(2,429)	(2,504)	(2,429)
Cash Flow Hedges and Other
Cash flow hedge and other - Beginning balance				(31)	3
Other comprehensive income/(loss) before reclassifications				15	(6)
(Income)/loss reclassified from AOCI				(10)	(13)
Net current period other comprehensive income (loss)				5	(19)
Cash flow hedge and other - Ending balance		$ (26)	$ (16)	$ (26)	$ (16)
[1]	Included in computation of net periodic benefit costs.

Objectives And Strategies For_2

Objectives And Strategies For Using Derivatives (Narratives) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Derivative Instruments, Gain (Loss)
Other Comprehensive Income (Loss), Net Investment Hedge, Gain (Loss), before Reclassification and Tax			$ 13
Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss)
Gain (loss) on undesignated foreign exchange hedging instruments	$ (23)	$ (14)	(31)	$ (27)
Foreign currency exchange contracts | Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss)
Derivative, Notional Amount	1,700		1,700
Fair Value Hedging | Interest Rate Contract
Derivative Instruments, Gain (Loss)
Long-term Debt, Fair Value	323		323
Derivative, Notional Amount	300		300
Cash Flow Hedging | Foreign currency exchange contracts
Derivative Instruments, Gain (Loss)
Derivative, Notional Amount	692		692
Net Investment Hedging
Derivative Instruments, Gain (Loss)
Derivative, Notional Amount	1,500		1,500
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2
Derivative Instruments, Gain (Loss)
Derivative Asset	70		70		$ 34
Derivative Liability	$ 32		$ 32		$ 44

Description Of Business Segme_3

Description Of Business Segments (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended		33 Months Ended
		Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020
Net Sales		$ 4,683	$ 4,640	$ 14,304	$ 13,867
Sales Revenue, Net, Percent Change		1.00%		3.00%
Operating Profit		$ 666	915	$ 2,495	2,240
Other (income) and expense, net		$ 5	(175)	$ 27	(166)
Operating Profit, Percent Change		(27.00%)		11.00%
2018 Global Restructuring Program | Before Tax
Restructuring Charges		$ 157	(56)	$ 337	215	$ 1,700
Personal Care
Net Sales		$ 2,339	2,305	$ 6,990	6,866
Sales Revenue, Net, Percent Change		1.00%		2.00%
Operating Profit		$ 486	490	$ 1,532	1,459
Operating Profit, Percent Change		(1.00%)		5.00%
Personal Care | 2018 Global Restructuring Program | Before Tax
Restructuring Charges		$ 57	53	$ 131	208
Consumer Tissue
Net Sales		$ 1,623	1,484	$ 4,991	4,482
Sales Revenue, Net, Percent Change		9.00%		11.00%
Operating Profit		$ 318	264	$ 1,111	726
Operating Profit, Percent Change		20.00%		53.00%
Consumer Tissue | 2018 Global Restructuring Program | Before Tax
Restructuring Charges		$ 59	49	$ 135	131
K-C Professional
Net Sales		$ 705	839	$ 2,277	2,477
Sales Revenue, Net, Percent Change		(16.00%)		(8.00%)
Operating Profit		$ 87	176	$ 423	488
Operating Profit, Percent Change		(51.00%)		(13.00%)
K-C Professional | 2018 Global Restructuring Program | Before Tax
Restructuring Charges		$ 15	21	$ 41	52
Corporate and Other
Net Sales		16	12	46	42
Operating Profit	[1]	(220)	(190)	(544)	(599)
Other (income) and expense, net
Other (income) and expense, net	[1]	$ 5	$ (175)	$ 27	$ (166)
[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 and Softex Indonesia acquisition-related costs. Restructuring charges related to the Personal Care, Consumer Tissue and K-C Professional business segments were $57, $59 and $15, respectively, for the three months ended September 30, 2020, $53, $49 and $21, respectively, for the three months ended September 30, 2019, $131, $135 and $41, respectively, for the nine months ended September 30, 2020 and $208, $131 and $52, respectively for the nine months ended September 30, 2019.

Description Of Business Segme_4

Description Of Business Segments Sales of Principle Products (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Consolidated
Net Sales	$ 4,683	$ 4,640	$ 14,304	$ 13,867
Consumer Tissue Products
Consolidated
Net Sales	1,600	1,500	5,000	4,500
Baby and Child Care Products
Consolidated
Net Sales	1,600	1,600	4,800	4,700
Away-from-home Professional Products
Consolidated
Net Sales	700	800	2,300	2,500
All Other
Consolidated
Net Sales	$ 800	$ 700	$ 2,200	$ 2,200

Supplemental Balance Sheet Da_2

Supplemental Balance Sheet Data - Inventory (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Raw materials	$ 375	$ 321
Work in process	199	206
Finished goods	1,116	1,147
Supplies and other	242	271
Inventory, Gross	1,932	1,945
Inventory, LIFO Reserve	(145)	(155)
Total	1,787	1,790
LIFO
Raw materials	124	85
Work in process	110	113
Finished goods	433	451
Supplies and other	0	0
Inventory, Gross	667	649
Inventory, LIFO Reserve	(145)	(155)
Total	522	494
Non-LIFO
Raw materials	251	236
Work in process	89	93
Finished goods	683	696
Supplies and other	242	271
Inventory, Gross	1,265	1,296
Inventory, LIFO Reserve	0	0
Total	$ 1,265	$ 1,296

Supplemental Balance Sheet Da_3

Supplemental Balance Sheet Data - Property Plant and Equipment (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Property, Plant and Equipment
Land	$ 164	$ 165
Buildings	2,914	2,877
Machinery and equipment	14,094	13,946
Construction in progress	801	851
Property, Plant and Equipment, Gross	17,973	17,839
Less accumulated depreciation	(10,476)	(10,389)
Total	$ 7,497	$ 7,450

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ in Millions	Oct. 01, 2020	Dec. 31, 2019	Sep. 30, 2020
Subsequent Event [Line Items]
Business Acquisition, Name of Acquired Entity	Softex Indonesia
Softex Indonesia [Member]
Subsequent Event [Line Items]
Business Acquisition, Revenue Reported by Acquired Entity for Last Annual Period		$ 420
Business Acquisition, Transaction Costs			$ 9
Subsequent Event [Member] | Softex Indonesia [Member]
Subsequent Event [Line Items]
Payments to Acquire Businesses, Gross	$ 1,200
Business Acquisition, Debt Related to Acquisition	$ 600