Kimberly-Clark Corp. (NYSE:KMB)

The financial data indicates a relatively stable range of current assets over the five-year period examined. Current assets fluctuated slightly, beginning at 5,115 million US dollars at the end of 2016 and exhibiting minor year-to-year variations, ultimately increasing to 5,174 million US dollars by the end of 2020. This suggests a consistent level of short-term resources available within the company.

Adjusted current assets, which may account for additional reconciliations or non-standard adjustments, follow a similar pattern. These assets show a slight upward trend, starting at 5,328 million US dollars in 2016, reaching a low of 5,244 million in 2019, and recovering to 5,353 million by the conclusion of 2020. The adjusted figures consistently exceed the reported current assets, indicating possible inclusions of additional liquidity or reclassifications that enhance the company's short-term financial position.

Overall, the stability in both current and adjusted current asset values over this time frame suggests effective management of liquid assets, with no significant volatility or drastic changes. This pattern implies a consistent operational strategy concerning liquidity maintenance, providing a stable base for meeting short-term obligations throughout the observed periods.

The financial data reflects observations on the total and adjusted total assets over the five-year period ending in 2020.

Total Assets

The total assets exhibit a generally upward trend with slight fluctuations. From 2016 to 2017, total assets increased from 14,602 million US dollars to 15,151 million US dollars, representing modest growth. In 2018, total assets experienced a decline to 14,518 million US dollars, marking a temporary decrease. However, from 2018 onward, total assets resumed growth reaching 15,283 million US dollars in 2019, and significantly increased to 17,523 million US dollars in 2020. This pattern suggests a strong recovery and expansion phase in the final year under review.

Adjusted Total Assets

The adjusted total assets data mirrors the trends observed in total assets, though with consistently higher reported values. Starting at 15,115 million US dollars in 2016, adjusted total assets steadily rose to 15,698 million US dollars in 2017. There was a decrease in 2018 to 15,016 million US dollars, echoing the dip seen with total assets. The figures then stabilized in 2019 at 15,228 million US dollars and surged to 17,440 million US dollars in 2020. The adjusted asset values suggest that after accounting for any specific adjustments, the asset base followed a similar trajectory, highlighting a marked increase in the latest year consistent with the unadjusted figures.

Overall, the asset base depicted by both total and adjusted total assets indicates a period of moderate growth, a mid-period contraction in 2018, and a robust asset expansion entering 2020. The notable increase in 2020 could reflect strategic asset accumulation, acquisitions, or other financial activities enhancing the company's asset portfolio.

Current liabilities trends

The current liabilities demonstrated an increasing trajectory from 2016 through 2019, rising from 5,846 million USD to 6,919 million USD. However, in 2020, there was a noticeable decrease to 6,443 million USD, indicating a reduction of approximately 7% from the previous year.

Adjusted current liabilities trends

Adjusted current liabilities followed a similar pattern, increasing from 5,846 million USD in 2016 to a peak of 6,826 million USD in 2019. In 2020, a decrease to 6,370 million USD was recorded, reflecting a reduction of about 7% compared to 2019. The adjusted figures are slightly lower than the reported current liabilities in 2018 and 2019, suggesting some reclassification or adjustments internally for these years.

Comparative observations

Both current and adjusted current liabilities consistently rose during the four-year span from 2016 to 2019, possibly indicating increased short-term obligations or expansion activities. The decline in 2020 could indicate improved liquidity management or reduction in short-term obligations possibly due to operational changes or external economic conditions. The close alignment between current and adjusted liabilities in most years suggests limited adjustments with slight deviations occurring during 2018 and 2019.

Total liabilities

The total liabilities showed a generally increasing trend over the five-year period from 2016 to 2020. Starting at 14,427 million US dollars in 2016, they slightly decreased to 14,208 million in 2017, followed by a moderate increase to 14,500 million in 2018. The upward trajectory continued more substantially in 2019 and 2020, where total liabilities reached 15,060 million and then surged further to 16,626 million, marking the highest level in the period analyzed.

Adjusted total liabilities

The adjusted total liabilities followed a somewhat similar pattern as total liabilities but with less volatility. After a small increase from 14,429 million in 2016 to 14,361 million in 2017, the values slightly decreased to 14,323 million in 2018 and remained relatively stable in 2019 at 14,417 million. However, in 2020, adjusted total liabilities experienced a notable increase to 15,810 million, indicating a significant rise compared to the preceding four years.

Overall analysis

Both liability measures demonstrated stability with minor fluctuations during the initial years, followed by a pronounced growth in 2020. The difference between total liabilities and adjusted total liabilities was minimal but became more evident in 2020, suggesting that adjustments had a greater impact in the latest year reported. This trend may reflect changes in the company's financial obligations or accounting adjustments that influenced its reported liability levels. The notable increase in liabilities in 2020 could be associated with strategic investments, increased borrowing, or other financial decisions impacting the company's leverage position.

The financial data reveals contrasting trends between the total stockholders' equity and the adjusted total stockholders' equity over the five-year period from 2016 to 2020.

Total Kimberly-Clark Corporation Stockholders’ Equity

This metric exhibits a highly volatile pattern. In 2016, the value was significantly negative at -102,629 million US dollars. The following year, 2017, saw an even larger negative equity of -287 million US dollars. This was followed by a partial recovery in 2018, with the figure improving to -33 million US dollars. In 2019, the equity turned positive, reaching 626 million US dollars. The positive trajectory continued in 2020 with a further increase to 1630 million US dollars. Overall, the total stockholders’ equity transitioned from large negative values to positive territory, indicating possible structural or accounting adjustments, revaluations, or significant changes affecting shareholders' equity over the period.

Adjusted Total Stockholders’ Equity

This adjusted metric demonstrates a generally stable and upward trend. Starting at 686 million US dollars in 2016, the value nearly doubled in 2017 to 1337 million US dollars. However, it decreased in 2018 to 693 million US dollars and marginally recovered to 811 million US dollars in 2019. The year 2020 shows a noticeable increase to 1630 million US dollars, reaching the highest value in the series. This suggests that when adjustments are applied, the equity base remains positive and exhibits overall growth, with some fluctuations likely reflecting underlying operational results or adjustments in accounting policies.

In summary, the adjusted equity figures display more consistency and growth compared to the total stockholders’ equity figures, which show substantial variability. The data indicates improved financial positioning by 2020, with adjusted equity nearly doubling from the start of the period. The significant discrepancy between total and adjusted equity underscores the importance of understanding the nature of these adjustments when assessing the company’s financial condition.

The analysis of the financial data over the five-year period reveals several notable trends in the company's debt, equity, and capital structure.

Total Reported Debt

The total reported debt shows a general upward trend over the period. Beginning at $7.572 billion in 2016, the debt slightly decreased in 2017 to $7.425 billion, then stabilized around $7.455 billion in 2018 before increasing to $7.747 billion in 2019 and further to $8.364 billion in 2020. This upward movement suggests a gradual increase in the company's borrowing or liabilities over the period.

Total Kimberly-Clark Corporation Stockholders’ Equity

Reported equity presents a highly volatile and negative pattern. The equity was negative at -$102 million in 2016 and worsened significantly to -$287 million in 2017. It then improved somewhat to -$33 million in 2018 before turning positive at $626 million in 2019 and maintaining positivity at $626 million in 2020. This shift from negative to positive equity indicates a notable improvement in the company's net asset position by the end of the period.

Total Reported Capital

The total reported capital exhibits variability without a consistent upward or downward trend. It increased from $7.470 billion in 2016 to $8.054 billion in 2017, dropped to $7.168 billion in 2018, then rose again to $7.714 billion in 2019, and finally peaked at $8.990 billion in 2020. This fluctuation reflects changes primarily influenced by the variability in equity rather than debt, given the latter's steady increase.

Adjusted Total Debt

Adjusted total debt closely mirrors the trend observed in total reported debt, with a gradual increase from $8.106 billion in 2016 to $8.920 billion in 2020. Minor decreases in 2017 and stability in 2018 are followed by consistent growth in the last two years. This confirms the pattern of increasing leverage when considering adjusted figures.

Adjusted Total Stockholders’ Equity

The adjusted equity figures start at $686 million in 2016, nearly doubling to $1.337 billion in 2017, then falling back to $693 million in 2018. It increases again in 2019 to $811 million and experiences a substantial rise to $1.630 billion in 2020. The fluctuations indicate some volatility, yet the overall increase suggests an improvement in equity value when adjusted for certain factors.

Adjusted Total Capital

The adjusted total capital shows an upward trend, rising from $8.792 billion in 2016 to $10.550 billion in 2020. Although there is a slight decline in 2018, the general progression indicates growth in the adjusted capital base, driven by increases in both adjusted debt and equity.

In summary, the data points to a gradual increase in both reported and adjusted debt levels, accompanied by an improvement in adjusted and reported equity towards the latter years. The fluctuations in equity particularly, with a shift from negative reported equity to positive, imply significant changes in net asset value, possibly reflecting strategic financial adjustments or operational performance improvements. The overall upward trajectory in adjusted total capital underscores growing financial resources, despite observed volatility in some components.

The financial data over the five-year period reveals variability in the reported net income attributable to the company and the adjusted net income figures.

Net Income Attributable to Kimberly-Clark Corporation (US$ in millions)

The net income shows a fluctuating trend from 2016 to 2020. It increased moderately from 2,166 million in 2016 to 2,278 million in 2017, then experienced a significant decline to 1,410 million in 2018. In 2019, the net income recovered substantially to 2,157 million and continued to rise to 2,352 million by 2020. This pattern suggests that the company faced a notable downturn in profitability in 2018, followed by progressive recovery and growth in the subsequent years.

Adjusted Net Income (US$ in millions)

The adjusted net income also reflects a degree of volatility but with some differences compared to the reported net income. The adjusted figure rose sharply from 1,970 million in 2016 to 2,876 million in 2017, representing a strong improvement year over year. However, it declined sharply to 1,420 million in 2018, mirroring the pattern seen in the reported net income. Thereafter, adjusted net income recovered to 2,096 million in 2019 and further increased to 2,537 million in 2020. Adjusted net income consistently remains lower than reported net income except in 2017 when it notably exceeded the reported figure, potentially indicating one-time or non-recurring items affecting the adjustments during that year.

Overall, both net income metrics reflect a challenging financial environment in 2018, followed by a strong recovery phase. The disparity between reported and adjusted net income in some years suggests the presence of adjustments for non-core or extraordinary items that impacted earnings, especially noticeable in 2017. The upward trajectory by 2020 indicates improving profitability and potentially effective management of operational or financial challenges encountered earlier in the period.