EX-12.1 2 kmb_123113xexhibit121.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES KMB_12.31.13_EXHIBIT 12 (1)


Exhibit No. (12)

KIMBERLY-CLARK CORPORATION AND SUBSIDIARIES
Computation of Ratio of Earnings to Fixed Charges
(Dollar amounts in millions)

 
 
Year Ended December 31
 
 
2013
 
2012
 
2011
 
2010
 
2009
 
 
 
 
 
 
 
 
 
 
 
Consolidated Companies
 
 
 
 
 
 
 
 
 
 
Income from continuing operations before income taxes
 
$
2,945

 
$
2,420

 
$
2,183

 
$
2,550

 
$
2,576

Interest expense
 
283

 
284

 
277

 
243

 
275

Interest factor in rent expense
 
111

 
94

 
93

 
94

 
90

Amortization of capitalized interest
 
12

 
11

 
13

 
14

 
14

 
 
 
 
 
 
 
 
 
 
 
Equity Affiliates
 
 
 
 
 
 
 
 
 
 
Share of 50%-owned:
 
 
 
 
 
 
 
 
 
 
Income before income taxes
 
6

 
3

 
(1
)
 
-

 
-

Interest expense
 
-

 
-

 
-

 
-

 
-

Interest factor in rent expense
 
-

 
-

 
-

 
-

 
-

Amortization of capitalized interest
 
-

 
-

 
-

 
-

 
-

Distributed income of less than 50%-owned
 
163

 
148

 
137

 
132

 
114

 
 
 
 
 
 
 
 
 
 
 
Earnings
 
$
3,520

 
$
2,960

 
$
2,702

 
$
3,033

 
$
3,069

 
 
 
 
 
 
 
 
 
 
 
Consolidated Companies
 
 
 
 
 
 
 
 
 
 
Interest expense
 
$
283

 
$
284

 
$
277

 
$
243

 
$
275

Capitalized interest
 
14

 
9

 
8

 
12

 
13

Interest factor in rent expense
 
111

 
94

 
93

 
94

 
90

 
 
 
 
 
 
 
 
 
 
 
Equity Affiliates
 
 
 
 
 
 
 
 
 
 
Share of 50%-owned:
 
 
 
 
 
 
 
 
 
 
Interest and capitalized interest
 
-

 
-

 
-

 
-

 
-

Interest factor in rent expense
 
-

 
-

 
-

 
-

 
-

 
 
 
 
 
 
 
 
 
 
 
Fixed Charges
 
$
408

 
$
387

 
$
378

 
$
349

 
$
378

 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
 
8.63

 
7.65

 
7.15

 
8.69

 
8.12