Analysis of Debt
Total Debt (Carrying Amount)
Kimberly-Clark Corp., balance sheet: debt
US$ in millions
Based on: 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31).
Total debt exhibited a period of relative stability between 2016 and 2018, followed by a consistent upward trajectory through 2020. The carrying amount of total debt reached its peak at the end of the observed period, increasing from 7,572 million US dollars in 2016 to 8,364 million US dollars in 2020.
- Total Debt Progression
- Total debt experienced a slight decline between 2016 and 2017, remaining largely stagnant in 2018. A growth phase began in 2019, with the total carrying amount increasing to 7,747 million US dollars, and accelerating in 2020 to 8,364 million US dollars, representing an approximate 8% increase over the final year of the period.
- Short-Term Debt Volatility
- Debt payable within one year demonstrated significant fluctuations. After a dip in 2017, current obligations rose steadily to a peak of 1,534 million US dollars in 2019. However, a sharp contraction occurred in 2020, with short-term debt falling to 486 million US dollars, the lowest level recorded in the five-year period.
- Long-Term Debt Expansion
- Long-term debt remained remarkably stable from 2016 through 2019, fluctuating within a narrow range between 6,213 million and 6,472 million US dollars. This stability was interrupted in 2020 by a substantial increase to 7,878 million US dollars, contributing the majority of the growth in total debt for that year.
- Debt Maturity Profile Shift
- A notable shift in the debt structure is observed in 2020. The simultaneous decrease in debt payable within one year and the sharp increase in long-term debt suggests a strategic refinancing effort, effectively extending the maturity profile of the company's obligations and reducing immediate liquidity pressure.
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Total Debt (Fair Value)
| Dec 31, 2020 | |
|---|---|
| Selected Financial Data (US$ in millions) | |
| Short-term debt | 223) |
| Long-term debt, including current portion | 9,627) |
| Total debt (fair value) | 9,850) |
| Financial Ratio | |
| Debt, fair value to carrying amount ratio | 1.18 |
Based on: 10-K (reporting date: 2020-12-31).
Weighted-average Interest Rate on Debt
Weighted-average interest rate on debt: 3.27%
| Interest rate | Debt amount1 | Interest rate × Debt amount | Weighted-average interest rate2 |
|---|---|---|---|
| 3.30% | 7,897) | 261) | |
| 0.60% | 169) | 1) | |
| 6.30% | 75) | 5) | |
| Total | 8,141) | 266) | |
| 3.27% | |||
Based on: 10-K (reporting date: 2020-12-31).
1 US$ in millions
2 Weighted-average interest rate = 100 × 266 ÷ 8,141 = 3.27%