EX-12.1 3 exhibit121-computationofra.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Exhibit


Exhibit 12.1

KIMBERLY-CLARK CORPORATION AND SUBSIDIARIES
Computation of Ratio of Earnings to Fixed Charges
(Dollar amounts in millions)
(Unaudited)
 
 
 
 
 
Three Months Ended March 31
 
2016
 
2015
Consolidated Companies
 
 
 
Income from continuing operations before income taxes
$
732

 
$
680

Interest expense
76

 
72

Interest factor in rent expense
23

 
24

Amortization of capitalized interest
2

 
2

 
 
 
 
Equity Affiliates
 
 
 
Share of 50%-owned
 
 
 
Income from continuing operations before income taxes
—

 
(2
)
  Interest expense
—

 
—

  Interest factor in rent expense
—

 
—

  Amortization of capitalized interest
—

 
—

  Distributed income of less than 50%-owned
—

 
—

Earnings
$
833

 
$
776

 
 
 
 
Consolidated Companies
 
 
 
Interest expense
$
76

 
$
72

Capitalized interest
4

 
4

Interest factor in rent expense
23

 
24

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

 
—

  Interest factor in rent expense
—

 
—

 
 
 
 
Fixed charges
$
103

 
$
100

Ratio of earnings to fixed charges
8.09

 
7.76