Kimberly-Clark manufactures and markets branded hygiene and personal-care products, including Huggies, Kleenex, Scott, Kotex, Cottonelle and Depend. Its continuing businesses are organized into North America and International Personal Care.
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A snapshot of what KIMBERLY CLARK CORP owns and owes at a point in time.
Read the company’s balance sheet in the original annual reports below.
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3 reports in this collection
| Report period | Filed with SEC | Form | Source |
|---|---|---|---|
| Dec 31, 20230000055785-24-000018 | Feb 8, 2024 | 10-K | Open 10-Ksec.gov |
| Dec 31, 20240000055785-25-000013 | Feb 13, 2025 | 10-K | Open 10-Ksec.gov |
| Dec 31, 20250001628280-26-007567 | Feb 12, 2026 | 10-K | Open 10-Ksec.gov |
Dates describe the filing metadata. Figures and reporting periods should be checked against the original statement. SEC links open in a new tab.
As of October 24, 2026, Kimberly-Clark was reshaping its portfolio while underlying growth and earnings quality remained mixed. The International Family Care and Professional (IFP) joint venture closed in July, but the much larger Kenvue acquisition remained pending. Continuing organic sales grew in 2025 and the first half of 2026, although pricing weakened and preliminary third-quarter organic sales declined. Productivity supported profitability, but disposal gains, insurance recovery, tariff refunds, restructuring and tax changes materially affected comparisons. Cash generation recovered in the first half largely through working capital, while higher investment spending left limited cash after dividends. The proposed Kenvue combination would add consumer-health brands, substantial financing requirements and product-liability exposure. Priced financing, successful consent solicitation and illustrative combined financial statements were important milestones, not evidence of completed issuance, settlement or acquisition.
Sources: 10-K · 2025-12-31 · 10-Q · 2026-06-30 · 8-K · 2026-10-15 · 8-K · 2026-10-19
Kimberly-Clark sells diapers, wipes, feminine-care and incontinence products, tissue, towels and professional hygiene products through retailers, distributors, e-commerce and institutional channels. North America spans all five product categories; International Personal Care focuses on baby, adult and feminine care. Walmart represented approximately 16% of continuing sales in 2025, making retailer relationships and purchasing power important economic dependencies.
The International Family Care and Professional (IFP) disposal changes the basis of comparison. Continuing income statements and segment results exclude the disposed business retrospectively, but consolidated cash-flow statements include it through disposal. The December 2025 recast supplies consistent historical operating comparisons; it is neither an error restatement nor a comprehensive update of the original 2024 annual report. Retained former-IFP costs also remain in continuing Corporate & Other. The former IFP segment included family-care and professional products such as facial and bathroom tissue, paper towels, napkins, wipers, soaps and sanitizers.
Sources: 10-K · 2025-12-31 · 8-K · 2025-12-04 · EX-99.1 · 2025-12-04
Continuing sales declined 2.1% to $16.447 billion in 2025 as exits and currency outweighed 1.7% organic growth. Volume increased, but pricing declined. Adjusted operating profit was essentially flat at $2.731 billion: lower marketing, research and general spending offset weaker adjusted gross profit. GAAP operating profit fell to $2.351 billion, reflecting both current charges and comparison with the prior year's personal protective equipment (PPE) disposal gain.
First-half 2026 continuing sales increased 1.6%, including 1.2% organic growth. Second-quarter organic sales nevertheless fell 0.1%. Productivity and one-time tariff refunds supported adjusted profitability, while China disruption, pricing investment and supply-chain spending weighed on results. Preliminary third-quarter organic sales fell 1.3%; adjusted operating profit was $677 million versus $683 million. Higher continuing EPS partly reflected lower taxes, while the sharp total-EPS increase principally reflected the International Family Care and Professional (IFP) transaction gain.
Sources: 10-K · 2025-12-31 · 10-Q · 2026-06-30 · EX-99.1 · 2026-08-04 · 8-K · 2026-10-15
Consolidated operating cash flow fell to $2.777 billion in 2025, while capital spending increased to $1.138 billion. The supplied analytical residual of $1.639 billion was below $1.660 billion of dividends before repurchases. In the first half of 2026, operating cash flow recovered to $1.653 billion, largely supported by working-capital movements and an acquisition-related insurance recovery. Capital spending of $776 million and dividends of $843 million absorbed most of that cash.
June continuing debt of approximately $6.5 billion excluded International Family Care and Professional (IFP) borrowing. Approximately $1.3 billion borrowed for IFP shortly before quarter-end transferred to the joint venture at closing and became non-recourse to Kimberly-Clark. Thus lower continuing debt alone does not measure consolidated deleveraging. Supplier-finance obligations remained approximately $1.1 billion within payables, with short-notice termination provisions. Neither these balances nor undrawn credit commitments are cash.
Sources: 10-K · 2025-12-31 · 10-Q · 2026-06-30
Suzano acquired 51% of the International Family Care and Professional (IFP) venture on July 1, 2026, with Kimberly-Clark retaining 49%. The approximately $1.7 billion base price, approximately $1.3 billion closing cash, license allocation and preliminary disposal gain are overlapping transaction measures, not separate proceeds. Kimberly-Clark retains equity-method exposure and continuing licensing and separation relationships.
Kenvue shareholders were to receive 0.14625 Kimberly-Clark shares plus $3.50 cash per eligible share. Shareholder approvals had been obtained, but closing remained conditional and expected in fourth-quarter 2026. Kimberly-Clark priced $4.9 billion of notes on October 19; issuance was not established by the supplied October 20 filing. The separate exchange of up to $7 billion of Kenvue notes replaces existing obligations rather than providing an additional $7 billion of cash. The 2025 annual report discloses a conditional $1.136 billion termination fee payable by either Kimberly-Clark or Kenvue to the other, depending on the specified circumstances: termination by one party because the other party's board made an adverse recommendation change, or termination after the outside date or because of a terminable breach, including the applicable Kimberly-Clark or Kenvue takeover-proposal conditions described as made or publicly announced before termination or entered into within twelve months afterward. This represents a potential termination cost, not an automatic payment upon every failed closing, simultaneous payments by both parties, or a fee reported as paid; the June-quarter disclosure's rounded $1.1 billion refers to the same fee, not an additional obligation.
Sources: 10-Q · 2026-06-30 · EX-99.4 · 2026-09-28 · 8-K · 2026-09-28 · 8-K · 2026-10-19 · 10-K · 2025-12-31
October guidance retained mid-single-digit adjusted operating-profit growth and high-single-digit adjusted continuing-EPS growth at constant currency, but a low-single-digit decline in adjusted parent-attributable EPS. Organic growth was expected approximately 100 basis points below weighted category growth. The cited 1.7% trailing category benchmark was not a fixed full-year forecast. Guidance excluded the pending Kenvue acquisition. Preliminary September figures remained unassured; scheduled November 5 final results fall outside this October 24 information cutoff.
Sources: EX-99.1 · 2026-10-15 · 8-K · 2026-10-15
USD 16.447 bn
FY2025 · GAAP · consolidated · Attribution: consolidated · Reported currency · scope: continuing
| Fiscal year | Value | YoY |
|---|---|---|
| 2025 | USD 16.447 bn | -2.1% |
| 2024 | USD 16.805 bn | -2.0% |
| 2023 | USD 17.146 bn | — |
GAAP net sales from continuing operations; IFP excluded retrospectively.
Sources: 10-K · 2025-12-31
USD 2.021 bn
FY2025 · GAAP · consolidated · Attribution: parent · Reported currency · scope: continuing_and_discontinued
| Fiscal year | Value | YoY |
|---|---|---|
| 2025 | USD 2.021 bn | -20.6% |
| 2024 | USD 2.545 bn | 44.3% |
| 2023 | USD 1.764 bn | — |
Parent-attributable net income including continuing and discontinued operations.
Sources: 10-K · 2025-12-31
USD 2.777 bn
FY2025 · GAAP · consolidated · Attribution: consolidated · Reported currency · scope: continuing_and_discontinued
| Fiscal year | Value | YoY |
|---|---|---|
| 2025 | USD 2.777 bn | -14.1% |
| 2024 | USD 3.234 bn | -8.7% |
| 2023 | USD 3.542 bn | — |
Consolidated operating cash flow including IFP discontinued operations.
Sources: 10-K · 2025-12-31
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