EX-12 2 kmb_10kx2017xexhibit12.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Exhibit


Exhibit No. (12)

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

 
 
Year Ended December 31
 
 
2017
 
2016
 
2015
 
2014
 
2013
Consolidated Companies
 
 
 
 
 
 
 
 
 
 
Income from continuing operations before income taxes
 
$
2,991

 
$
3,009

 
$
1,335

 
$
2,255

 
$
2,641

Interest expense
 
318

 
319

 
295

 
284

 
282

Interest factor in rent expense
 
94

 
94

 
93

 
101

 
106

Amortization of capitalized interest
 
8

 
9

 
9

 
23

 
12

 
 
 
 
 
 
 
 
 
 
 
Equity Affiliates
 
 
 
 
 
 
 
 
 
 
Share of 50%-owned:
 
 
 
 
 
 
 
 
 
 
Income before income taxes
 
(2
)
 
(2
)
 
(2
)
 
1

 
6

Interest expense
 
1

 
1

 
-

 
-

 
-

Interest factor in rent expense
 
-

 
-

 
-

 
-

 
-

Amortization of capitalized interest
 
-

 
-

 
-

 
-

 
-

Distributed income of less than 50%-owned
 
130

 
120

 
136

 
168

 
163

 
 
 
 
 
 
 
 
 
 
 
Earnings
 
$
3,540

 
$
3,550

 
$
1,866

 
$
2,832

 
$
3,210

 
 
 
 
 
 
 
 
 
 
 
Consolidated Companies
 
 
 
 
 
 
 
 
 
 
Interest expense
 
$
318

 
$
319

 
$
295

 
$
284

 
$
282

Capitalized interest
 
8

 
10

 
15

 
11

 
14

Interest factor in rent expense
 
94

 
94

 
93

 
101

 
106

 
 
 
 
 
 
 
 
 
 
 
Equity Affiliates
 
 
 
 
 
 
 
 
 
 
Share of 50%-owned:
 
 
 
 
 
 
 
 
 
 
Interest and capitalized interest
 
1

 
1

 
-

 
-

 
-

Interest factor in rent expense
 
-

 
-

 
-

 
-

 
-

 
 
 
 
 
 
 
 
 
 
 
Fixed Charges
 
$
421

 
$
424

 
$
403

 
$
396

 
$
402

 
 
 
 
 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges
 
8.41

 
8.37

 
4.63

 
7.15

 
7.99