Kimberly-Clark (KMB) 10-Q 22 Apr 22 2022 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2022	Apr. 15, 2022
Entity Information [Line Items]
Document Type	10-Q
Document Period End Date	Mar. 31, 2022
Entity File Number	1-225
Entity Registrant Name	KIMBERLY-CLARK CORPORATION
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
City Area Code	972
Local Phone Number	281-1200
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		336,925,493
Document Quarterly Report	true
Document Transition Report	false
Entity Shell Company	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Entity Central Index Key	0000055785
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Common Stock | NEW YORK STOCK EXCHANGE, INC.
Entity Information [Line Items]
Title of 12(b) Security	Common Stock
Trading Symbol	KMB
Security Exchange Name	NYSE
0.625% Notes Due 2024 [Member] | NEW YORK STOCK EXCHANGE, INC.
Entity Information [Line Items]
Title of 12(b) Security	0.625% Notes due 2024
Trading Symbol	KMB24
Security Exchange Name	NYSE

Consolidated Income Statement

Consolidated Income Statement - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Statement [Abstract]
Net Sales	$ 5,095	$ 4,743
Cost of products sold	3,575	3,154
Gross Profit	1,520	1,589
Marketing, research and general expenses	886	815
Other (income) and expense, net	(59)	4
Operating Profit	693	770
Nonoperating expense	(4)	(6)
Interest income	2	1
Interest expense	(65)	(63)
Income Before Income Taxes and Equity Interests	626	702
Provision for income taxes	(114)	(147)
Income Before Equity Interests	512	555
Share of net income of equity companies	23	39
Net income	535	594
Net income attributable to noncontrolling interests	(12)	(10)
Net Income Attributable to Kimberly-Clark Corporation	$ 523	$ 584
Per Share Basis
Basic	$ 1.55	$ 1.73
Diluted	$ 1.55	$ 1.72

Consolidated Statement Of Compr

Consolidated Statement Of Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Comprehensive Income [Abstract]
Net Income	$ 535	$ 594
Other Comprehensive Income (Loss), Net of Tax
Unrealized currency translation adjustments	53	(215)
Employee postretirement benefits	11	18
Other	(9)	36
Total Other Comprehensive Income (Loss), Net of Tax	55	(161)
Comprehensive Income	590	433
Comprehensive income attributable to noncontrolling interests	(8)	(3)
Comprehensive Income Attributable to Kimberly-Clark Corporation	$ 582	$ 430

Consolidated Balance Sheet

Consolidated Balance Sheet - USD ($) shares in Millions, $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Current Assets
Cash and cash equivalents	$ 493	$ 270
Accounts receivable, net	2,516	2,207
Inventories	2,265	2,239
Other current assets	629	849
Total Current Assets	5,903	5,565
Property, Plant and Equipment, Net	8,114	8,097
Investments in Equity Companies	266	290
Goodwill	2,177	1,840
Other Intangible Assets, Net	926	810
Other Assets	1,286	1,235
TOTAL ASSETS	18,672	17,837
Current Liabilities
Debt payable within one year	969	433
Trade accounts payable	3,846	3,840
Accrued expenses and other current liabilities	2,054	2,096
Dividends payable	388	380
Total Current Liabilities	7,257	6,749
Long-Term Debt	8,101	8,141
Noncurrent Employee Benefits	797	809
Deferred Income Taxes	687	694
Other Liabilities	716	681
Redeemable Common and Preferred Securities of Subsidiaries	260	26
Stockholders' Equity
Preferred Stock, Value, Issued	0	0
Common Stock, Value, Issued	$ 473	$ 473
Treasury Stock, Shares	41.6	41.8
Total Kimberly-Clark Corporation Stockholders' Equity	$ 705	$ 514
Noncontrolling Interests	149	223
Total Stockholders' Equity	854	737
Treasury Stock, Value [Abstract]
Treasury Stock, Value		(5,183)
Additional Paid in Capital [Abstract]
Additional Paid in Capital		605
Retained Earnings (Accumulated Deficit) [Abstract]
Retained Earnings (Accumulated Deficit)		7,858
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 18,672	17,837
Accumulated Other Comprehensive Income (loss)		$ (3,239)

Consolidated Balance Sheet Pare

Consolidated Balance Sheet Parenthetical - $ / shares shares in Millions	Mar. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Preferred Stock, Par or Stated Value Per Share	$ 0	$ 0
Preferred Stock, Shares Authorized	20	20
Preferred Stock, Shares Issued	0
Common Stock, Par or Stated Value Per Share	$ 1.25	$ 1.25
Common Stock, Shares Authorized	1,200	1,200
Common Stock, Shares, Issued	378.6	378.6
Treasury Stock, Shares	41.6	41.8

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			$ 657
Treasury Stock, Shares				39,873
Treasury Stock, Value				$ (4,899)
Retained Earnings					$ 7,567
Accumulated Other Comprehensive Income (Loss)						$ 3,172
Noncontrolling Interests							$ 243
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ 869
Net income	594				584
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest							9
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Excludes Redeemable Interests' Share	593
Other Comprehensive Income, Net of Tax	161					154	(7)
Other Comprehensive Income (Loss), Net of Tax, Excludes Redeemable Interests' Share	(161)
Stock-based awards exercised or vested	10		(24)	$ 34
Treasury Stock, Shares, Acquired				1,398
Treasury Stock, Value, Acquired, Cost Method				$ (185)
Recognition of stock-based compensation	22		22
Dividends, Common Stock, Cash	(403)				(385)
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders							(18)
Other	$ (1)		3		(2)	1	1
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures				(315)
Dividends declared	$ 1.14
Common Stock, Shares, Issued		378,597
Common Stock, Value, Issued		$ 473
Additional Paid in Capital			658
Treasury Stock, Shares				40,956
Treasury Stock, Value				$ (5,050)
Retained Earnings					7,764
Accumulated Other Comprehensive Income (Loss)						3,327
Noncontrolling Interests							228
Total Kimberly-Clark Corporation Stockholders' Equity	$ 746
Common Stock, Shares, Issued		378,597
Common Stock, Value, Issued	473	$ 473
Additional Paid in Capital	$ 605		605
Treasury Stock, Shares	41,800			41,762
Treasury Stock, Value	$ (5,183)			$ (5,183)
Retained Earnings	7,858				7,858
Accumulated Other Comprehensive Income (Loss)	3,239					3,239
Noncontrolling Interests	223						223
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	737
Total Kimberly-Clark Corporation Stockholders' Equity	514
Net income	535				523
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest							12
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Excludes Redeemable Interests' Share	535
Other Comprehensive Income, Net of Tax	(55)					(59)	(4)
Other Comprehensive Income (Loss), Net of Tax, Excludes Redeemable Interests' Share	55
Stock-based awards exercised or vested	9		(26)	$ 35
Treasury Stock, Shares, Acquired				215
Treasury Stock, Value, Acquired, Cost Method				$ (27)
Recognition of stock-based compensation	16		16
Dividends, Common Stock, Cash	(473)				(391)
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders							(82)
Other	$ (2)		4		(2)
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures				(347)
Dividends declared	$ 1.16
Common Stock, Shares, Issued		378,597
Common Stock, Value, Issued	$ 473	$ 473
Additional Paid in Capital			$ 599
Treasury Stock, Shares	41,600			41,630
Treasury Stock, Value				$ (5,175)
Retained Earnings					$ 7,988
Accumulated Other Comprehensive Income (Loss)						$ 3,180
Noncontrolling Interests	$ 149						$ 149
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	854
Total Kimberly-Clark Corporation Stockholders' Equity	$ 705

Statement of Stockholders' Eq_2

Statement of Stockholders' Equity Stockholders' Equity Parentheticals - $ / shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Stockholders' Equity [Abstract]
Dividends declared	$ 1.16	$ 1.14

Consolidated Cash Flow Statemen

Consolidated Cash Flow Statement - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Operating Activities
Net income	$ 535	$ 594
Depreciation and amortization	188	189
Asset impairments	0	3
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain	(85)	0
Stock-based compensation	16	22
Deferred income taxes	(52)	(35)
Net (gains) losses on asset dispositions	6	4
Equity companies' earnings (in excess of) less than dividends paid	(23)	(39)
Operating working capital	(369)	(400)
Postretirement benefits	(14)	(15)
Other	2	(2)
Cash Provided by Operations	204	321
Investing Activities
Capital spending	(253)	(298)
Payments to Acquire Businesses, Net of Cash Acquired	34	0
Investments in time deposits	(83)	(159)
Maturities of time deposits	255	207
Other	(1)	5
Cash Used for Investing	(116)	(245)
Financing Activities
Cash dividends paid	(384)	(359)
Change in short-term debt	834	744
Debt proceeds	0	5
Debt repayments	(300)	(253)
Proceeds from exercise of stock options	23	10
Acquisitions of common stock for the treasury	(25)	(169)
Other	(15)	(30)
Cash Used for Financing	133	(52)
Effect of Exchange Rate Changes on Cash and Cash Equivalents	2	(7)
Change in Cash and Cash Equivalents	223	17
Cash and Cash Equivalents - Beginning of Period	270	303
Cash and Cash Equivalents - End of Period	$ 493	$ 320

Accounting Policies

Accounting Policies	3 Months Ended
	Mar. 31, 2022
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, 2021. 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

Acquisition

Acquisition	3 Months Ended
	Mar. 31, 2022
Business Combinations [Abstract]
Mergers, Acquisitions and Dispositions Disclosures	2022 Acquisition On February 24, 2022, we completed our acquisition of a majority and controlling share of Thinx Inc. (“Thinx”), an industry leader in the reusable period and incontinence underwear category, for total consideration of $181 consisting of cash of $53 , the fair value of our previously held equity investment of $127, and certain share-based award costs of $1. We previously accounted for our ownership interest in Thinx as an equity method investment, but upon increasing our ownership to 58%, w e began consolidating the operations of Thinx into our financial statements at the end of the first quarter of 2022. The consolidated results of operations for Thinx are reported in our Personal Care business segment on a one-month lag. The share of Thinx net income and equity attributable to the third-party minority owner of Thinx is classified in our consolidated income statement within Net income attributable to noncontrolling interests and in our consolidated balance sheet within Redeemable Common and Preferred Securities of Subsidiaries. This noncontrolling equity interest is measured at the estimated redemption value, which approximates fair value. We have substantially completed an initial purchase price allocation in which we utilized several generally accepted valuation methodologies to estimate the fair value of certain acquired assets. The primary valuation methods included two forms of the Income Approach (i.e., the multi-period excess earnings method (distributor method) and the relief-from-royalty method). These valuation methodologies are commonly used to value similar identifiable intangible assets in the Consumer Packaged Goods industry. All of the selected valuation methodologies incorporate unobservable inputs, or Level 3 inputs, as defined by the fair value hierarchy in Accounting Standard Codification 820, Fair Value Measurements . In connection with these valuation methodologies, we are required to make estimates and assumptions regarding market comparable companies, revenue growth rates, operating margins, distributor and customer attrition rates, royalty rates, distributor margins, discount rates, etc., which are primarily based on cash flow forecasts, business plans, economic projections and other information available to market participants. The total purchase price consideration was allocated to the net assets acquired based upon their respective estimated fair values as follows: Current Assets $ 40 Property, Plant and Equipment, Net 2 Goodwill 297 Other Intangible Assets, Net 123 Other Assets 4 Current Liabilities (29) Deferred Income Taxes (18) Other Liabilities (4) Fair value of net assets acquired 415 Less fair value of non-controlling interest (234) Total purchase price consideration $ 181 Other Intangible Assets, Net includes brands and customer relationships which have estimated useful lives of 4 to 15 years, primarily 15 years. Based on the carrying value of these finite-lived assets as of March 31, 2022, amortization expense per year for each of the next five years is estimated to be approximately $8. Goodwill of $297 w as allocated to the Personal Care business segment. The goodwill is primarily attributable to future growth opportunities and any intangible assets that did not qualify for separate recognition. For tax purposes, the acquisition of additional Thinx shares was treated as a stock acquisition, and the goodwill acquired is not tax deductible. The preliminary estimates of the fair value of identifiable assets acquired and liabilities assumed are subject to revisions, which may result in adjustments to the preliminary values discussed above. We continue to evaluate potential contingencies that may have existed as of the acquisition date and expect to finalize the purchase price allocation no later than the first quarter of 2023. As a result of this transaction during the quarter ended March 31, 2022, an $85 non-recurring, non-cash gain was recognized in Other (income) expense, net as a result of the remeasurement of the carrying value of our previously held equity investment to fair value, and related transaction and integration costs of $21 were recorded in Marketing, research and general expenses. This recognition resulted in a net benefit of $64 pre-tax ($68 after tax) being included in our consolidated income statement for the quarter ended March 31, 2022. In addition, we removed the non-cash gain impact from Operating Activities in our consolidated cash flow statements for the quarter ended March 31, 2022. Pro forma results of operations have not been presented as the impact on our consolidated financial statements is not material.

Fair Value Information

Fair Value Information	3 Months Ended
	Mar. 31, 2022
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 three months ended March 31, 2022 and for the full year 2021, 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 March 31, 2022 and December 31, 2021, derivative assets were $57 and $65, respectively, and derivative liabilities were $85 and $41, 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 6. Redeemable common and preferred securities of subsidiaries are measured on a recurring basis at their estimated redemption values, which approximate fair value. As of March 31, 2022 and December 31, 2021, the securities were valued at $260 and $26, respectively. No redeemable common securities were outstanding at December 31, 2021. The securities are not traded in active markets, and their measurement 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 $72 at March 31, 2022 and December 31, 2021 , 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 March 31, 2022 December 31, 2021 Assets Cash and cash equivalents (a) 1 $ 493 $ 493 $ 270 $ 270 Time deposits (b) 1 239 239 416 416 Liabilities Short-term debt (c) 2 955 955 118 118 Long-term debt (d) 2 8,115 8,439 8,456 9,492 (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	3 Months Ended
	Mar. 31, 2022
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 (Millions of shares) 2022 2021 Basic 337.0 338.2 Dilutive effect of stock options and restricted share unit awards 1.2 1.2 Diluted 338.2 339.4 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 March 31, 2022 and 2021 was 337.0 million and 337.6 million, respectively.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
Stockholders' Equity	Stockholders' EquityNet 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 three months ended March 31, 2022 was primarily due to the strengthening of certain 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, 2020 $ (2,157) $ (912) $ (40) $ (63) Other comprehensive income (loss) before reclassifications (205) — 2 22 (Income) loss reclassified from AOCI — 14 (a) — (a) 12 Net current period other comprehensive income (loss) (205) 14 2 34 Balance as of March 31, 2021 $ (2,362) $ (898) $ (38) $ (29) Balance as of December 31, 2021 $ (2,422) $ (803) $ (34) $ 20 Other comprehensive income (loss) before 57 7 (2) (2) (Income) loss reclassified from AOCI — 6 (a) — (a) (7) Net current period other comprehensive income (loss) 57 13 (2) (9) Balance as of March 31, 2022 $ (2,365) $ (790) $ (36) $ 11 (a) Included in computation of net periodic benefit costs.

Objectives And Strategies For U

Objectives And Strategies For Using Derivatives	3 Months Ended
	Mar. 31, 2022
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 r ates, 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 March 31, 2022 and December 31, 2021, derivative assets were $57 and $65, respectively, and derivative liabilities were $85 and $41, 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 contracts of varying durations along with strategic pricing mechanisms 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 March 31, 2022, the aggregate notional values and carrying values of debt subject to outstanding interest rate contracts designated as fair value hedges were $525 and $501, respectively. For the three months ended March 31, 2022 and 2021, 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 March 31, 2022, 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 2022 and future periods. As of March 31, 2022, the aggregate notional value of outstanding foreign exchange derivative contracts designated as cash flow hedges was $781. For the three months ended March 31, 2022 and 2021, 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 March 31, 2022, 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 March 31, 2022 is December 2024. Net Investment Hedges For derivative instruments that are designated and qualify as net investment hedges, the aggregate notional value was $1.4 billion at March 31, 2022. 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 three months ended March 31, 2022, unrealized gains of $9 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 March 31, 2022. Undesignated Hedging Instruments Gains or losses on undesignated foreign exchange hedging instruments are immediately recognized in Other (income) and expense, net. A loss of $34 and a loss of $9 were recorded in the three months ended March 31, 2022 and 2021, 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 March 31, 2022, the notional value of these undesignated derivative instruments was approximately $2.2 billion .

Description Of Business Segment

Description Of Business Segments	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Business Segment Information	Business Segment InformationWe 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 which was completed in 2021. 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, Sweety, Kotex, U by Kotex, Intimus, Depend, Plenitud, Softex, 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 March 31 2022 2021 Change NET SALES Personal Care $ 2,729 $ 2,462 +11 % Consumer Tissue 1,568 1,510 +4 % K-C Professional 780 752 +4 % Corporate & Other 18 19 N.M. TOTAL NET SALES $ 5,095 $ 4,743 +7 % OPERATING PROFIT Personal Care $ 475 $ 481 -1 % Consumer Tissue 171 269 -36 % K-C Professional 90 126 -29 % Corporate & Other (a) (102) (102) N.M. Other (income) and expense, net (a) (59) 4 N.M. TOTAL OPERATING PROFIT $ 693 $ 770 -10 % (a) Corporate & Other and Other (income) and expense, net include income and expense not associated with the business segments, including the non-cash, non-recurring gain and transaction and integration costs related to the acquisition of a controlling interest in Thinx in 2022 and charges related to the 2018 Global Restructuring Program in 2021. Restructuring charges related to the Personal Care, Consumer Tissue and K-C Professional for the three months ended March 31, 2021 were, $15, $16, and $3, respectively. N.M. - Not Meaningful Sales of Principal Products: Three Months Ended March 31 (Billions of dollars) 2022 2021 Baby and child care products $ 1.9 $ 1.7 Consumer tissue products 1.6 1.5 Away-from-home professional products 0.8 0.8 All other 0.8 0.7 Consolidated $ 5.1 $ 4.7

Supplemental Balance Sheet Data

Supplemental Balance Sheet Data	3 Months Ended
	Mar. 31, 2022
Statement of Financial Position [Abstract]
Additional Financial Information Disclosure	Supplemental Balance Sheet Data The following schedule presents a summary of inventories by major class: March 31, 2022 December 31, 2021 LIFO Non-LIFO Total LIFO Non-LIFO Total Raw materials $ 152 $ 362 $ 514 $ 141 $ 352 $ 493 Work in process 153 96 249 153 89 242 Finished goods 621 817 1,438 607 835 1,442 Supplies and other — 290 290 — 280 280 926 1,565 2,491 901 1,556 2,457 Excess of FIFO or weighted-average cost over (226) — (226) (218) — (218) Total $ 700 $ 1,565 $ 2,265 $ 683 $ 1,556 $ 2,239 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: March 31, 2022 December 31, 2021 Land $ 168 $ 169 Buildings 3,026 2,993 Machinery and equipment 14,745 14,606 Construction in progress 766 760 18,705 18,528 Less accumulated depreciation (10,591) (10,431) Total $ 8,114 $ 8,097

Acquisition (Tables)

Acquisition (Tables)	3 Months Ended
	Mar. 31, 2022
Business Combinations [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The total purchase price consideration was allocated to the net assets acquired based upon their respective estimated fair values as follows: Current Assets $ 40 Property, Plant and Equipment, Net 2 Goodwill 297 Other Intangible Assets, Net 123 Other Assets 4 Current Liabilities (29) Deferred Income Taxes (18) Other Liabilities (4) Fair value of net assets acquired 415 Less fair value of non-controlling interest (234) Total purchase price consideration $ 181

Fair Value Information (Tables)

Fair Value Information (Tables)	3 Months Ended
	Mar. 31, 2022
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 March 31, 2022 December 31, 2021 Assets Cash and cash equivalents (a) 1 $ 493 $ 493 $ 270 $ 270 Time deposits (b) 1 239 239 416 416 Liabilities Short-term debt (c) 2 955 955 118 118 Long-term debt (d) 2 8,115 8,439 8,456 9,492 (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)	3 Months Ended
	Mar. 31, 2022
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 (Millions of shares) 2022 2021 Basic 337.0 338.2 Dilutive effect of stock options and restricted share unit awards 1.2 1.2 Diluted 338.2 339.4

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2022
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, 2020 $ (2,157) $ (912) $ (40) $ (63) Other comprehensive income (loss) before reclassifications (205) — 2 22 (Income) loss reclassified from AOCI — 14 (a) — (a) 12 Net current period other comprehensive income (loss) (205) 14 2 34 Balance as of March 31, 2021 $ (2,362) $ (898) $ (38) $ (29) Balance as of December 31, 2021 $ (2,422) $ (803) $ (34) $ 20 Other comprehensive income (loss) before 57 7 (2) (2) (Income) loss reclassified from AOCI — 6 (a) — (a) (7) Net current period other comprehensive income (loss) 57 13 (2) (9) Balance as of March 31, 2022 $ (2,365) $ (790) $ (36) $ 11 (a) Included in computation of net periodic benefit costs.

Description Of Business Segme_2

Description Of Business Segments (Tables)	3 Months Ended
	Mar. 31, 2022
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 March 31 2022 2021 Change NET SALES Personal Care $ 2,729 $ 2,462 +11 % Consumer Tissue 1,568 1,510 +4 % K-C Professional 780 752 +4 % Corporate & Other 18 19 N.M. TOTAL NET SALES $ 5,095 $ 4,743 +7 % OPERATING PROFIT Personal Care $ 475 $ 481 -1 % Consumer Tissue 171 269 -36 % K-C Professional 90 126 -29 % Corporate & Other (a) (102) (102) N.M. Other (income) and expense, net (a) (59) 4 N.M. TOTAL OPERATING PROFIT $ 693 $ 770 -10 % (a) Corporate & Other and Other (income) and expense, net include income and expense not associated with the business segments, including the non-cash, non-recurring gain and transaction and integration costs related to the acquisition of a controlling interest in Thinx in 2022 and charges related to the 2018 Global Restructuring Program in 2021. Restructuring charges related to the Personal Care, Consumer Tissue and K-C Professional for the three months ended March 31, 2021 were, $15, $16, and $3, respectively. N.M. - Not Meaningful	[1]
Sales of Principal Products	Sales of Principal Products: Three Months Ended March 31 (Billions of dollars) 2022 2021 Baby and child care products $ 1.9 $ 1.7 Consumer tissue products 1.6 1.5 Away-from-home professional products 0.8 0.8 All other 0.8 0.7 Consolidated $ 5.1 $ 4.7
[1]	Corporate & Other and Other (income) and expense, net include income and expense not associated with the business segments, including the non-cash, non-recurring gain and transaction and integration costs related to the acquisition of a controlling interest in Thinx in 2022 and charges related to the 2018 Global Restructuring Program in 2021. Restructuring charges related to the Personal Care, Consumer Tissue and K-C Professional for the three months ended March 31, 2021 were, $15, $16, and $3, respectively.

Summary of Balance Sheet Data (

Summary of Balance Sheet Data (Tables)	3 Months Ended
	Mar. 31, 2022
Statement of Financial Position [Abstract]
Schedule of Inventory, Current	The following schedule presents a summary of inventories by major class: March 31, 2022 December 31, 2021 LIFO Non-LIFO Total LIFO Non-LIFO Total Raw materials $ 152 $ 362 $ 514 $ 141 $ 352 $ 493 Work in process 153 96 249 153 89 242 Finished goods 621 817 1,438 607 835 1,442 Supplies and other — 290 290 — 280 280 926 1,565 2,491 901 1,556 2,457 Excess of FIFO or weighted-average cost over (226) — (226) (218) — (218) Total $ 700 $ 1,565 $ 2,265 $ 683 $ 1,556 $ 2,239
Property, Plant and Equipment	The following schedule presents a summary of property, plant and equipment, net: March 31, 2022 December 31, 2021 Land $ 168 $ 169 Buildings 3,026 2,993 Machinery and equipment 14,745 14,606 Construction in progress 766 760 18,705 18,528 Less accumulated depreciation (10,591) (10,431) Total $ 8,114 $ 8,097

Accounting Policies Narrative (

Accounting Policies Narrative (Details)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Net sales | K-C Argentina | Geographic Concentration Risk
Accounting Policies
Net sales of K-C Argentina, percent	1.00%	1.00%

Acquisition Narrative (Details)

Acquisition Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Line Items]
Finite-Lived Intangible Asset, Expected Amortization, Year Four	$ 8
Finite-Lived Intangible Asset, Expected Amortization, Year Three	8
Finite-Lived Intangible Asset, Expected Amortization, Year Five	8
Finite-Lived Intangible Asset, Expected Amortization, Year Two	8
Goodwill	2,177		$ 1,840
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain	85	$ 0
Thinx Inc
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Line Items]
Business Combination, Consideration Transferred	181
Payments to Acquire Businesses, Gross	53
Equity Method Investments, Fair Value Disclosure	127
Share-based Payment Arrangement, Accelerated Cost	$ 1
Sale of Stock, Percentage of Ownership after Transaction	58.00%
Finite-Lived Intangible Asset, Expected Amortization, Year One	$ 8
Goodwill	297
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain	(85)
Business Combination, Acquisition Related Costs	21
Thinx Inc | Before Tax
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Line Items]
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain, Transaction and Related Costs, Net Benefit	64
Thinx Inc | After Tax
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Line Items]
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain, Transaction and Related Costs, Net Benefit	68
Thinx Inc | Personal Care [Member]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Line Items]
Goodwill	$ 297

Acquisition (Schedule of Recogn

Acquisition (Schedule of Recognized Identified Assets Acquired and Liabilities Assumed) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Line Items]
Goodwill	$ 2,177	$ 1,840
Thinx Inc
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents	40
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment	2
Goodwill	297
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	123
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Other	4
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities	(29)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities	(18)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other	(4)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net	415
Business Combination, Acquisition of Less than 100 Percent, Noncontrolling Interest, Fair Value	(234)
Business Combination, Consideration Transferred	$ 181

Fair Value Information (Narrati

Fair Value Information (Narrative) (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Redeemable Preferred Securities Of Subsidiaries Fair Value Disclosure	$ 260	$ 26
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	69	72
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Derivatives Assets	57	65
Derivatives Liability	$ 85	$ 41

Fair Value Information (Fair Va

Fair Value Information (Fair Value Of Financial Instruments) (Details) - USD ($) $ in Millions		Mar. 31, 2022	Dec. 31, 2021
Carrying (Reported) Amount, Fair Value Disclosure | Fair Value, Inputs, Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Cash and cash equivalents	[1]	$ 493	$ 270
Time deposits	[2]	239	416
Carrying (Reported) Amount, Fair Value Disclosure | Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Short-term debt	[3]	955	118
Long-term debt	[4]	8,115	8,456
Estimated Fair Value, Fair Value Disclosure | Fair Value, Inputs, Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Cash and cash equivalents	[1]	493	270
Time deposits	[2]	239	416
Estimated Fair Value, Fair Value Disclosure | Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Short-term debt	[3]	955	118
Long-term debt	[4]	$ 8,439	$ 9,492
[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	Mar. 31, 2022	Mar. 31, 2021
Earnings Per Share [Abstract]
Common shares outstanding	337	337.6

Earnings Per Share (Average Com

Earnings Per Share (Average Common Shares Outstanding Basic And Diluted) (Details) - shares shares in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Average Common Shares Outstanding Basic and Diluted
Basic	337	338.2
Dilutive effect of stock options and restricted share unit awards	1.2	1.2
Diluted	338.2	339.4

Stockholders' Equity (Component

Stockholders' Equity (Components of Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Dec. 31, 2020
Net current period other comprehensive income (loss)		$ 53	$ (215)
Net current period other comprehensive income (loss)		11	18
Total Other Comprehensive Income (Loss), Net of Tax		55	(161)
Accumulated Other Comprehensive Income (loss)				$ (3,239)
Defined Benefit Pension Plans
Defined benefit and other postretirement benefit plans - Beginning balance		(803)	(912)
Other comprehensive income/(loss) before reclassifications		7	0
(Income)/loss reclassified from AOCI	[1]	6	14
Net current period other comprehensive income (loss)		13	14
Defined benefit and other postretirement benefit plans - Ending balance		(790)	(898)
Other Postretirement Benefit Plans
Defined benefit and other postretirement benefit plans - Beginning balance		(34)	(40)
Other comprehensive income/(loss) before reclassifications		(2)	2
(Income)/loss reclassified from AOCI	[1]	0	0
Net current period other comprehensive income (loss)		(2)	2
Defined benefit and other postretirement benefit plans - Ending balance		(36)	(38)
Unrealized Translation
Unrealized translation - Beginning balance		(2,422)	(2,157)
Other comprehensive income/(loss) before reclassifications		57	(205)
(Income)/loss reclassified from AOCI		0	0
Net current period other comprehensive income (loss)		57	(205)
Unrealized translation - Ending balance		(2,365)	(2,362)
Cash Flow Hedges and Other
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax		(2)	22
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax		(7)	12
Total Other Comprehensive Income (Loss), Net of Tax		(9)	34
Accumulated Other Comprehensive Income (loss)		$ 11	$ (29)	$ 20	$ (63)
[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
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Derivative Instruments, Gain (Loss)
Other Comprehensive Income (Loss), Net Investment Hedge, Gain (Loss), before Reclassification and Tax	$ 9
Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss)
Gain (loss) on undesignated foreign exchange hedging instruments	34	$ 9
Foreign currency exchange contracts | Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss)
Derivative, Notional Amount	2,200
Fair Value Hedging | Interest Rate Contract
Derivative Instruments, Gain (Loss)
Long-term Debt, Fair Value	501
Derivative, Notional Amount	525
Cash Flow Hedging | Foreign currency exchange contracts
Derivative Instruments, Gain (Loss)
Derivative, Notional Amount	781
Net Investment Hedging
Derivative Instruments, Gain (Loss)
Derivative, Notional Amount	1,400
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2
Derivative Instruments, Gain (Loss)
Derivative Asset	57		$ 65
Derivative Liability	$ 85		$ 41

Description Of Business Segme_3

Description Of Business Segments (Details) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2022	Mar. 31, 2021
Net Sales		$ 5,095	$ 4,743
Sales Revenue, Net, Percent Change		7.00%
Operating Profit		$ 693	770
Other (income) and expense, net		$ (59)	4
Operating Profit, Percent Change		(10.00%)
Personal Care
Net Sales		$ 2,729	2,462
Sales Revenue, Net, Percent Change		11.00%
Operating Profit		$ 475	481
Operating Profit, Percent Change		(1.00%)
Personal Care | 2018 Global Restructuring Program | Before Tax
Restructuring Charges			15
Consumer Tissue
Net Sales		$ 1,568	1,510
Sales Revenue, Net, Percent Change		4.00%
Operating Profit		$ 171	269
Operating Profit, Percent Change		(36.00%)
Consumer Tissue | 2018 Global Restructuring Program | Before Tax
Restructuring Charges			16
K-C Professional
Net Sales		$ 780	752
Sales Revenue, Net, Percent Change		4.00%
Operating Profit		$ 90	126
Operating Profit, Percent Change		(29.00%)
K-C Professional | 2018 Global Restructuring Program | Before Tax
Restructuring Charges			3
Corporate and Other
Net Sales		$ 18	19
Operating Profit	[1]	(102)	(102)
Other (income) and expense, net
Other (income) and expense, net	[1]	$ (59)	$ 4
[1]	Corporate & Other and Other (income) and expense, net include income and expense not associated with the business segments, including the non-cash, non-recurring gain and transaction and integration costs related to the acquisition of a controlling interest in Thinx in 2022 and charges related to the 2018 Global Restructuring Program in 2021. Restructuring charges related to the Personal Care, Consumer Tissue and K-C Professional for the three months ended March 31, 2021 were, $15, $16, and $3, respectively.

Description Of Business Segme_4

Description Of Business Segments Sales of Principle Products (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Consolidated
Net Sales	$ 5,095	$ 4,743
Consumer Tissue Products
Consolidated
Net Sales	1,600	1,500
Baby and Child Care Products
Consolidated
Net Sales	1,900	1,700
Away-from-home Professional Products
Consolidated
Net Sales	800	800
All Other
Consolidated
Net Sales	$ 800	$ 700

Supplemental Balance Sheet Da_2

Supplemental Balance Sheet Data - Inventory (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Raw materials	$ 514	$ 493
Work in process	249	242
Finished goods	1,438	1,442
Supplies and other	290	280
Inventory, Gross	2,491	2,457
Inventory, LIFO Reserve	(226)	(218)
Total	2,265	2,239
LIFO
Raw materials	152	141
Work in process	153	153
Finished goods	621	607
Supplies and other	0	0
Inventory, Gross	926	901
Inventory, LIFO Reserve	(226)	(218)
Total	700	683
Non-LIFO
Raw materials	362	352
Work in process	96	89
Finished goods	817	835
Supplies and other	290	280
Inventory, Gross	1,565	1,556
Inventory, LIFO Reserve	0	0
Total	$ 1,565	$ 1,556

Supplemental Balance Sheet Da_3

Supplemental Balance Sheet Data - Property Plant and Equipment (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment
Land	$ 168	$ 169
Buildings	3,026	2,993
Machinery and equipment	14,745	14,606
Construction in progress	766	760
Property, Plant and Equipment, Gross	18,705	18,528
Less accumulated depreciation	(10,591)	(10,431)
Total	$ 8,114	$ 8,097