KIMBERLY CLARK CORP - FORM 8-K - EX-99.1 - EXHIBIT 99.1

Attached files

file	filename
EX-99.2 - EXHIBIT 99.2 - KIMBERLY CLARK CORP	a2017pensionrecastexhibit992.htm
8-K - 8-K FORM - KIMBERLY CLARK CORP	form8k_shellpensionrecast.htm

Exhibit 99.1

KIMBERLY-CLARK CORPORATION AND SUBSIDIARIES

CONSOLIDATED INCOME STATEMENT

FOR THE THREE MONTHS ENDED DECEMBER 31, 2017

RECAST RECONCILIATION

(Unaudited)



(Millions of dollars, except per share amounts)	Previously Reported			Adjustments			Recast

Net Sales	$	4,582		$	21		$	4,603
Cost of products sold	2,984			11			2,995
Gross Profit	1,598			10			1,608
Marketing, research and general expenses	759			(6		)	753
Other (income) and expense, net	27			—			27
Operating Profit	812			16			828
Nonoperating expense	—			(16		)	(16		)
Interest income	3			—			3
Interest expense	(72		)	—			(72		)
Income Before Income Taxes and Equity Interests	743			—			743
Provision for income taxes	(143		)	—			(143		)
Income Before Equity Interests	600			—			600
Share of net income of equity companies	25			—			25
Net Income	625			—			625
Net income attributable to noncontrolling interests	(8		)	—			(8		)
Net Income Attributable to Kimberly-Clark Corporation	$	617		$	—		$	617

Per Share Basis
Net Income Attributable to Kimberly-Clark Corporation
Basic	$	1.76		$	—		$	1.76
Diluted	$	1.75		$	—		$	1.75

KIMBERLY-CLARK CORPORATION AND SUBSIDIARIES

CONSOLIDATED INCOME STATEMENT

FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2017

RECAST RECONCILIATION

(Unaudited)



(Millions of dollars, except per share amounts)	Previously Reported			Adjustments			Recast

Net Sales	$	4,640		$	25		$	4,665
Cost of products sold	2,981			17			2,998
Gross Profit	1,659			8			1,667
Marketing, research and general expenses	813			(6		)	807
Other (income) and expense, net	(8		)	—			(8		)
Operating Profit	854			14			868
Nonoperating expense	—			(14		)	(14		)
Interest income	3			—			3
Interest expense	(78		)	—			(78		)
Income Before Income Taxes and Equity Interests	779			—			779
Provision for income taxes	(224		)	—			(224		)
Income Before Equity Interests	555			—			555
Share of net income of equity companies	24			—			24
Net Income	579			—			579
Net income attributable to noncontrolling interests	(12		)	—			(12		)
Net Income Attributable to Kimberly-Clark Corporation	$	567		$	—		$	567

Per Share Basis
Net Income Attributable to Kimberly-Clark Corporation
Basic	$	1.61		$	—		$	1.61
Diluted	$	1.60		$	—		$	1.60

KIMBERLY-CLARK CORPORATION AND SUBSIDIARIES

CONSOLIDATED INCOME STATEMENT

FOR THE THREE MONTHS ENDED JUNE 30, 2017

RECAST RECONCILIATION

(Unaudited)



(Millions of dollars, except per share amounts)	Previously Reported			Adjustments			Recast

Net Sales	$	4,554		$	22		$	4,576
Cost of products sold	2,910			14			2,924
Gross Profit	1,644			8			1,652
Marketing, research and general expenses	842			(7		)	835
Other (income) and expense, net	3			—			3
Operating Profit	799			15			814
Nonoperating expense	—			(15		)	(15		)
Interest income	2			—			2
Interest expense	(85		)	—			(85		)
Income Before Income Taxes and Equity Interests	716			—			716
Provision for income taxes	(202		)	—			(202		)
Income Before Equity Interests	514			—			514
Share of net income of equity companies	26			—			26
Net Income	540			—			540
Net income attributable to noncontrolling interests	(9		)	—			(9		)
Net Income Attributable to Kimberly-Clark Corporation	$	531		$	—		$	531

Per Share Basis
Net Income Attributable to Kimberly-Clark Corporation
Basic	$	1.50		$	—		$	1.50
Diluted	$	1.49		$	—		$	1.49

KIMBERLY-CLARK CORPORATION AND SUBSIDIARIES

CONSOLIDATED INCOME STATEMENT

FOR THE THREE MONTHS ENDED MARCH 31, 2017

RECAST RECONCILIATION

(Unaudited)



(Millions of dollars, except per share amounts)	Previously Reported			Adjustments			Recast

Net Sales	$	4,483		$	21		$	4,504
Cost of products sold	2,831			13			2,844
Gross Profit	1,652			8			1,660
Marketing, research and general expenses	813			(6		)	807
Other (income) and expense, net	5			—			5
Operating Profit	834			14			848
Nonoperating expense	—			(14		)	(14		)
Interest income	2			—			2
Interest expense	(83		)	—			(83		)
Income Before Income Taxes and Equity Interests	753			—			753
Provision for income taxes	(207		)	—			(207		)
Income Before Equity Interests	546			—			546
Share of net income of equity companies	29			—			29
Net Income	575			—			575
Net income attributable to noncontrolling interests	(12		)	—			(12		)
Net Income Attributable to Kimberly-Clark Corporation	$	563		$	—		$	563

Per Share Basis
Net Income Attributable to Kimberly-Clark Corporation
Basic	$	1.58		$	—		$	1.58
Diluted	$	1.57		$	—		$	1.57

KIMBERLY-CLARK CORPORATION AND SUBSIDIARIES

CONSOLIDATED INCOME STATEMENT

FOR THE YEAR ENDED DECEMBER 31, 2017

RECAST RECONCILIATION

(Unaudited)



(Millions of dollars, except per share amounts)	Previously Reported			Adjustments			Recast

Net Sales	$	18,259		$	89		$	18,348
Cost of products sold	11,706			55			11,761
Gross Profit	6,553			34			6,587
Marketing, research and general expenses	3,227			(25		)	3,202
Other (income) and expense, net	27			—			27
Operating Profit	3,299			59			3,358
Nonoperating expense	—			(59		)	(59		)
Interest income	10			—			10
Interest expense	(318		)	—			(318		)
Income Before Income Taxes and Equity Interests	2,991			—			2,991
Provision for income taxes	(776		)	—			(776		)
Income Before Equity Interests	2,215			—			2,215
Share of net income of equity companies	104			—			104
Net Income	2,319			—			2,319
Net income attributable to noncontrolling interests	(41		)	—			(41		)
Net Income Attributable to Kimberly-Clark Corporation	$	2,278		$	—		$	2,278

Per Share Basis
Net Income Attributable to Kimberly-Clark Corporation
Basic	$	6.44		$	—		$	6.44
Diluted	$	6.40		$	—		$	6.40

KIMBERLY-CLARK CORPORATION AND SUBSIDIARIES

CONSOLIDATED INCOME STATEMENT

FOR THE YEAR ENDED DECEMBER 31, 2016

RECAST RECONCILIATION

(Unaudited)



(Millions of dollars, except per share amounts)	Previously Reported			Adjustments			Recast

Net Sales	$	18,202		$	85		$	18,287
Cost of products sold	11,551			45			11,596
Gross Profit	6,651			40			6,691
Marketing, research and general expenses	3,326			(26		)	3,300
Other (income) and expense, net	8			—			8
Operating Profit	3,317			66			3,383
Nonoperating expense	—			(66		)	(66		)
Interest income	11			—			11
Interest expense	(319		)	—			(319		)
Income Before Income Taxes and Equity Interests	3,009			—			3,009
Provision for income taxes	(922		)	—			(922		)
Income Before Equity Interests	2,087			—			2,087
Share of net income of equity companies	132			—			132
Net Income	2,219			—			2,219
Net income attributable to noncontrolling interests	(53		)	—			(53		)
Net Income Attributable to Kimberly-Clark Corporation	$	2,166		$	—		$	2,166

Per Share Basis
Net Income Attributable to Kimberly-Clark Corporation
Basic	$	6.03		$	—		$	6.03
Diluted	$	5.99		$	—		$	5.99

KIMBERLY-CLARK CORPORATION AND SUBSIDIARIES

CONSOLIDATED INCOME STATEMENT

FOR THE YEAR ENDED DECEMBER 31, 2015

RECAST RECONCILIATION

(Unaudited)



(Millions of dollars, except per share amounts)	Previously Reported			Adjustments			Recast

Net Sales	$	18,591		$	91		$	18,682
Cost of products sold	11,967			48			12,015
Gross Profit	6,624			43			6,667
Marketing, research and general expenses	3,443			(27		)	3,416
Other (income) and expense, net	1,568			(1,355		)	213
Operating Profit	1,613			1,425			3,038
Nonoperating expense	—			(1,425		)	(1,425		)
Interest income	17			—			17
Interest expense	(295		)	—			(295		)
Income Before Income Taxes and Equity Interests	1,335			—			1,335
Provision for income taxes	(418		)	—			(418		)
Income Before Equity Interests	917			—			917
Share of net income of equity companies	149			—			149
Net Income	1,066			—			1,066
Net income attributable to noncontrolling interests	(53		)	—			(53		)
Net Income Attributable to Kimberly-Clark Corporation	$	1,013		$	—		$	1,013

Per Share Basis
Net Income Attributable to Kimberly-Clark Corporation
Basic	$	2.78		$	—		$	2.78
Diluted	$	2.77		$	—		$	2.77

KIMBERLY-CLARK CORPORATION AND SUBSIDIARIES

CONSOLIDATED INCOME STATEMENT

FOR THE YEAR ENDED DECEMBER 31, 2014

RECAST RECONCILIATION

(Unaudited)



(Millions of dollars, except per share amounts)	Previously Reported			Adjustments			Recast

Net Sales	$	19,724		$	93		$	19,817
Cost of products sold	13,041			24			13,065
Gross Profit	6,683			69			6,752
Marketing, research and general expenses	3,709			(29		)	3,680
Other (income) and expense, net	453			—			453
Operating Profit	2,521			98			2,619
Nonoperating expense	—			(98		)	(98		)
Interest income	18			—			18
Interest expense	(284		)	—			(284		)
Income From Continuing Operations Before Income Taxes and Equity Interests	2,255			—			2,255
Provision for income taxes	(856		)	—			(856		)
Income From Continuing Operations Before Equity Interests	1,399			—			1,399
Share of net income of equity companies	146			—			146
Income From Continuing Operations	1,545			—			1,545
Income from discontinued operations, net of income taxes	50			—			50
Net Income	1,595			—			1,595
Net income attributable to noncontrolling interests in continuing operations	(69		)	—			(69		)
Net Income Attributable to Kimberly-Clark Corporation	$	1,526		$	—		$	1,526

Per Share Basis
Net Income Attributable to Kimberly-Clark Corporation
Basic
Continuing operations	$	3.94		$	—		$	3.94
Discontinued operations	0.13			—			0.13
Net income	$	4.07		$	—		$	4.07

Diluted
Continuing operations	$	3.91		$	—		$	3.91
Discontinued operations	0.13			—			0.13
Net income	$	4.04		$	—		$	4.04

KIMBERLY CLARK CORP - FORM 8-K - EX-99.1 - EXHIBIT 99.1 - February 22, 2018

Attached files

KIMBERLY CLARK CORP Reports