FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
DATE OF REPORT: APRIL 12, 2002
(Date of earliest event reported)
KIMBERLY-CLARK CORPORATION
(Exact name of registrant as specified in its charter)
DELAWARE 1-225 39-0394230
(State or other jurisdiction (Commission File (IRS Employer
of incorporation) Number) Identification No.)
P.O. BOX 619100, DALLAS, TEXAS 75261-9100
(Address of principal executive offices) (Zip Code)
(972) 281-1200
(Registrant's telephone number, including area code)
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Item 9. Regulation FD Disclosure
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Attached hereto as Exhibit 99 is certain financial information of
Kimberly-Clark Corporation (the "Corporation") for the years ended December
31, 1998, 1999, 2000 and 2001, and for each quarter in 2001, that has been
reclassified in accordance with Emerging Issues Task Force ("EITF") No. 00-14
(Accounting for Certain Sales Incentives) and No. 00-25 (Vendor Income
Statement Characterization of Consideration Paid to a Reseller of the Vendor's
Products).
As we previously communicated in our November 30 conference call and our 2001
annual report, beginning in the first quarter of 2002, the adoption of EITFs
00-14 and 00-25 requires the cost of certain consumer and trade promotions to
be reflected as a reduction of net sales rather than an expense. Prior
periods will be reclassified on a consistent basis. We are therefore
providing the relevant portions of the Corporation's income statements for 1998
through 2001, comparing results as originally reported with the results as
reclassified in accordance with the new accounting requirements.
There is no change in operating profit, but operating profit as a percent of
net sales increases in each period presented as a result of the
reclassifications.
Details are included in Exhibit 99. The reclassifications, (decrease)
increase, are summarized below.
Advertising,
Promotion and
Reporting Period Net Sales Cost of Sales Selling Expenses
---------------- --------- ------------- ----------------
($ millions)
1998 $(1,036.4) $4.1 $(1,040.5)
1999 (1,105.8) 3.9 (1,109.7)
2000 (1,072.5) 4.3 (1,076.8)
2001:
1st Qtr. (285.2) 1.5 (286.7)
2nd Qtr. (288.9) .8 (289.7)
3rd Qtr. (336.3) .9 (337.2)
4th Qtr. (326.4) (.7) (325.7)
--------- ---- ---------
Year (1,236.8) 2.5 (1,239.3)
Schedules that present the reclassifications of net sales by business segment
and geographic area are also attached as part of Exhibit 99.
SIGNATURE
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Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
KIMBERLY-CLARK CORPORATION
Date: April 12, 2002 By: /s/John W. Donehower
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John W. Donehower
Senior Vice President and
Chief Financial Officer
EXHIBIT INDEX
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(99) Certain Financial Information of Kimberly-Clark Corporation for the
years ended December 31, 1998, 1999, 2000 and 2001, and for each quarter
of 2001, that is reclassified in accordance with EITFs No. 00-14 and
00-25.