Kimberly-Clark Corp. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Kimberly-Clark Corp. has filed its 2023 10-K report detailing its fiscal year operations and financial standing.</b>

AI Summary

KIMBERLY CLARK CORP (KMB) filed a Annual Report (10-K) with the SEC on February 8, 2024. Kimberly-Clark Corporation filed its annual report on Form 10-K for the fiscal year ended December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. The company's principal executive offices are located at 351 Phelps Drive, Irving, TX 75038. The mailing address is P.O. Box 619100, DFW Airport Station, Dallas, TX 75261-9100. Kimberly-Clark Corp. is classified under Standard Industrial Classification Code 2670: Converted Paper & Paperboard Products (No Containers/Boxes).

Why It Matters

For investors and stakeholders tracking KIMBERLY CLARK CORP, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Kimberly-Clark's financial performance, strategic initiatives, and risk factors for the fiscal year 2023, which is crucial for investors to assess the company's health and future prospects. The detailed financial statements and disclosures within the report offer insights into the company's revenue streams, profitability, debt levels, and operational efficiency, enabling stakeholders to make informed investment decisions.

Risk Assessment

Risk Level: medium — KIMBERLY CLARK CORP shows moderate risk based on this filing. The company operates in the consumer staples sector, which can be subject to fluctuating consumer demand, raw material costs, and competitive pressures, as detailed in the risk factors section of the 10-K.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to understand Kimberly-Clark's performance and potential challenges in the consumer products market.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting period)
• 2024-02-08 — Filing Date (Date of submission)
• 2670 — SIC Code (Industry classification)

Key Players & Entities

• KIMBERLY CLARK CORP (company) — Filer name
• 2023-12-31 (date) — Fiscal year end
• 2024-02-08 (date) — Filing date
• 351 PHELPS DRIVE (address) — Business address street
• IRVING (location) — Business address city
• TX (location) — Business address state
• 75038 (postal_code) — Business address zip
• P O BOX 619100 (address) — Mailing address street

FAQ

Industry Context

Kimberly-Clark operates in the consumer products sector, specifically in the manufacturing of paper-based products for personal and household use.

Regulatory Implications

The filing is a standard 10-K report required by the Securities and Exchange Commission (SEC) for publicly traded companies to disclose annual financial performance and business operations.

What Investors Should Do

1. Review the full 10-K filing for detailed financial statements and management discussion.
2. Analyze the company's risk factors to understand potential business challenges.
3. Compare Kimberly-Clark's performance metrics with industry peers.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K filing.
• 2024-02-08: Filing Date — Date the 10-K report was officially submitted to the SEC.

Year-Over-Year Comparison

This is the initial extraction of the 2023 10-K filing; comparison to prior filings will require access to those documents.

Key Financial Figures

• $1.25 — hange on which registered Common Stock-$1.25 par value KMB New York Stock Exchange
• $181 — ar category, for total consideration of $181 consisting of cash of $53, the fair val
• $53 — ideration of $181 consisting of cash of $53, the fair value of our previously held
• $127 — ur previously held equity investment of $127, and certain share-based award costs of
• $1 — and certain share-based award costs of $1. In the first quarter of 2023, we deliv
• $48 — uired additional ownership of Thinx for $48, increasing our ownership in Thinx to 7
• $47 — ining 30 percent ownership of Thinx for $47 in the fourth quarter of 2023. See Item
• $212 — rofessional tissue assets in Brazil for $212, including the base purchase price of $
• $175 — 2, including the base purchase price of $175 and working capital and other closing a
• $37 — apital and other closing adjustments of $37. This transaction also included a licen
• $50 — our facilities to average approximately $50 on an annual basis. Total operating exp
• $100 — costs, are expected to be approximately $100 in 2024 and $110 in 2025. Total enviro
• $110 — ed to be approximately $100 in 2024 and $110 in 2025. Total environmental capital e

Filing Documents

• kmb-20231231.htm (10-K) — 2489KB
• exhibit4f-descriptionofcom.htm (EX-4.(F)) — 12KB
• exhibit10j-supplementalret.htm (EX-10.(J)) — 1210KB
• kmbex10p-40thamendedandres.htm (EX-10.(P)) — 154KB
• kmb10k2023exhibit21.htm (EX-21) — 46KB
• kmb10k2023exhibit23.htm (EX-23) — 4KB
• kmb10k2023exhibit24.htm (EX-24) — 43KB
• kmb10kq4exhibit31a2023.htm (EX-31.A) — 10KB
• kmb10kq4exhibit31b2023.htm (EX-31.B) — 10KB
• kmb10kq4exhibit32a2023.htm (EX-32.A) — 5KB
• kmb10kq4exhibit32b2023.htm (EX-32.B) — 5KB
• kmb2023ex97a-kimberlyclark.htm (EX-97.A) — 29KB
• kmb-20231231_g1.jpg (GRAPHIC) — 16KB
• 0000055785-24-000018.txt (&nbsp;) — 16078KB
• kmb-20231231.xsd (EX-101.SCH) — 84KB
• kmb-20231231_cal.xml (EX-101.CAL) — 102KB
• kmb-20231231_def.xml (EX-101.DEF) — 590KB
• kmb-20231231_lab.xml (EX-101.LAB) — 1134KB
• kmb-20231231_pre.xml (EX-101.PRE) — 844KB
• kmb-20231231_htm.xml (XML) — 2609KB

Risk Factors

Item 1A. Risk Factors 4

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 11

Cybersecurity

Item 1C. Cybersecurity 11

Propertie s

Item 2. Propertie s 13

Legal Proceedings

Item 3. Legal Proceedings 13

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 13 I nf ormation A bout O ur Executive Officers 14 Part II

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 16

Selected Financial Data

Item 6. Selected Financial Data 16

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 17

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 30

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 32

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 70

Controls and Procedures

Item 9A. Controls and Procedures 70

Other Information

Item 9B. Other Information 71

Disclosure Regarding Foreign Jurisdictions That Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions That Prevent Inspections 71 Part III

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 72

Executive Compensation

Item 11. Executive Compensation 72

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 72

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 72

Principal Accountant Fees and Services

Item 14. Principal Accountant Fees and Services 72 Part IV

Exhibits, Financial Statement Schedules

Item 15. Exhibits, Financial Statement Schedules 73

Form 10-K Summary

Item 16. Form 10-K Summary 76

Signatures

Signatures 77 KIMBERLY-CLARK CORPORATION - 2023 Annual Report PART I

BUSINESS

ITEM 1. BUSINESS Kimberly-Clark Corporation was founded in 1872 and incorporated in Delaware in 1928. We are a global company focused on delivering products and solutions that provide better care for a better world through product innovation and building our personal care, consumer tissue and K-C Professional brands. We are principally engaged in the manufacturing and marketing of a wide range of products made from natural or synthetic fibers and materials using advanced technologies in fibers, nonwovens and absorbency. Unless the context indicates otherwise, the terms "Corporation," "Kimberly-Clark," "K-C," "we," "our" and "us" refer to Kimberly-Clark Corporation and its consolidated subsidiaries. Dollar amounts are reported in millions, except per share dollar amounts, unless otherwise noted. Description of Kimberly-Clark We are organized into operating segments based on product groupings. These operating segments have been aggregated into three reportable global business segments as follows: 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, reusable underwear 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, Thinx, Poise, Depend, Plenitud, Softex 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, Andrex, Viva, Scottex and other brand names. K-C Professional partners with businesses to creat

RISK FACTORS

ITEM 1A. RISK FACTORS Our business faces many risks and uncertainties that we cannot control. Any of the risks discussed below, as well as factors described in other places in this Form 10-K, or in our other filings with the SEC, could adversely affect our business, consolidated financial position, results of operations or cash flows. In addition, these items could cause our future results to differ from those in any of our forward-looking statements. These risks are not the only ones we face. Other risks that we do not presently know about or that we presently believe are not material could also adversely affect us. 4 KIMBERLY-CLARK CORPORATION - 2023 Annual Report Business Operations Significant increases in prices for raw materials, energy, transportation or other necessary supplies or services, without corresponding increases in our selling prices, could adversely affect our financial results. Increases in the cost and availability of raw materials, including pulp and petroleum-based materials, the cost of energy, transportation and other necessary services, supplier constraints, supplier consolidation which could limit our sources of supply for these items, an inability to maintain favorable supplier arrangements and relations or an inability to avoid disruptions in production output could have an adverse effect on our financial results. Cellulose fiber, in the form of kraft pulp or recycled fiber from recovered waste paper, is used extensively in our tissue products and is subject to significant price fluctuations. Cellulose fiber, in the form of fluff pulp, is a key component in our personal care products. In past years, pulp prices have experienced significant volatility. Increases in pulp prices or limits in the availability of recycled fiber could adversely affect our earnings if selling prices for our finished products are not adjusted or if these adjustments significantly trail the increases in pulp prices. We utilize a variety of pricing struct

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View this 10-K filing on SEC EDGAR