Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Kimberly-Clark Corp., consolidated income statement (quarterly data)

US$ in millions

3 months ended:	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019	Dec 31, 2018	Sep 30, 2018	Jun 30, 2018	Mar 31, 2018	Dec 31, 2017	Sep 30, 2017	Jun 30, 2017	Mar 31, 2017	Dec 31, 2016	Sep 30, 2016	Jun 30, 2016	Mar 31, 2016
Net sales	4,743)	4,836)	4,683)	4,612)	5,009)	4,583)	4,640)	4,594)	4,633)	4,569)	4,582)	4,604)	4,731)	4,582)	4,640)	4,554)	4,483)	4,544)	4,594)	4,588)	4,476)
Cost of products sold	(3,154)	(3,172)	(3,093)	(2,835)	(3,218)	(3,017)	(3,085)	(3,108)	(3,205)	(3,167)	(3,166)	(3,149)	(3,407)	(2,984)	(2,981)	(2,910)	(2,831)	(2,866)	(2,924)	(2,924)	(2,837)
Gross profit	1,589)	1,664)	1,590)	1,777)	1,791)	1,566)	1,555)	1,486)	1,428)	1,402)	1,416)	1,455)	1,324)	1,598)	1,659)	1,644)	1,652)	1,678)	1,670)	1,664)	1,639)
Marketing, research and general expenses	(815)	(996)	(919)	(844)	(873)	(859)	(815)	(811)	(769)	(768)	(749)	(771)	(1,079)	(759)	(813)	(842)	(813)	(821)	(833)	(847)	(825)
Other income and (expense), net	(4)	81)	(5)	(8)	(14)	44)	175)	(5)	(4)	5)	2)	(10)	2)	(27)	8)	(3)	(5)	(18)	(1)	21)	(10)
Operating profit	770)	749)	666)	925)	904)	751)	915)	670)	655)	639)	669)	674)	247)	812)	854)	799)	834)	839)	836)	838)	804)
Nonoperating expense	(6)	(13)	(40)	(6)	(11)	(58)	(11)	(11)	(11)	(88)	(30)	(36)	(9)	—)	—)	—)	—)	—)	—)	—)	—)
Interest income	1)	2)	2)	2)	2)	3)	3)	2)	3)	3)	2)	3)	2)	3)	3)	2)	2)	2)	2)	3)	4)
Interest expense	(63)	(64)	(62)	(65)	(61)	(63)	(66)	(67)	(65)	(65)	(64)	(68)	(66)	(72)	(78)	(85)	(83)	(81)	(81)	(81)	(76)
Income before income taxes and equity interests	702)	674)	566)	856)	834)	633)	841)	594)	582)	489)	577)	573)	174)	743)	779)	716)	753)	760)	757)	760)	732)
Provision for income taxes	(147)	(166)	(114)	(199)	(197)	(109)	(192)	(132)	(143)	(91)	(138)	(138)	(104)	(143)	(224)	(202)	(207)	(271)	(227)	(217)	(207)
Income before equity interests	555)	508)	452)	657)	637)	524)	649)	462)	439)	398)	439)	435)	70)	600)	555)	514)	546)	489)	530)	543)	525)
Share of net income of equity companies	39)	38)	31)	35)	38)	32)	31)	33)	27)	23)	23)	30)	27)	25)	24)	26)	29)	29)	33)	35)	35)
Net income	594)	546)	483)	692)	675)	556)	680)	495)	466)	421)	462)	465)	97)	625)	579)	540)	575)	518)	563)	578)	560)
Net income attributable to noncontrolling interests	(10)	(7)	(11)	(11)	(15)	(9)	(9)	(10)	(12)	(10)	(11)	(10)	(4)	(8)	(12)	(9)	(12)	(13)	(13)	(12)	(15)
Net income attributable to Kimberly-Clark Corporation	584)	539)	472)	681)	660)	547)	671)	485)	454)	411)	451)	455)	93)	617)	567)	531)	563)	505)	550)	566)	545)

The financial data over the analyzed quarters reveal several notable patterns and trends in revenues, expenses, and profitability.

Net Sales: Net sales displayed relative stability from 2016 through the end of 2019, fluctuating mostly within a narrow range around 4,500 to 4,600 million US dollars per quarter. From early 2020 onwards, a visible increase in net sales is observed, peaking at over 5,000 million US dollars during the first quarter of 2020 before settling somewhat lower but maintaining levels above those seen in prior years.
Cost of Products Sold: The cost of products sold followed a generally increasing trend through the period, with a pronounced spike occurring during 2018, where costs rose to levels around 3,100 to 3,400 million US dollars per quarter, significantly higher than 2016 and 2017 figures. Costs fluctuated but remained elevated compared to earlier years through 2020 and into early 2021.
Gross Profit: Gross profit showed a decline starting in 2018, concurrent with the rise in cost of products sold. While earlier years’ quarterly gross profits hovered around 1,600 to 1,700 million US dollars, 2018 and subsequent years saw a substantial dip with gross profit occasionally dropping below 1,400 million. There was partial recovery toward late 2019 and into 2020, but the figures did not reach the earlier highs consistently.
Marketing, Research, and General Expenses: Expenses in marketing, research, and general activities demonstrated variability but trended upwards overall starting from 2016. A distinctive spike appears in the first quarter of 2018 with an unusually high expense figure exceeding 1,000 million US dollars. Post-2018, the expenses remained elevated and notably surged again toward the end of 2020, nearing or surpassing 900 million US dollars per quarter.
Other Income and (Expense), Net: This item experienced sporadic fluctuations with some periods showing small positive inflows and others reporting minor expenses. No sustained or consistent upward or downward trend emerged over the timeframe, though notable positive spikes occurred in late 2019 and late 2020.
Operating Profit: Operating profit endured a dramatic decline in 2018, plummeting to approximately 250 million US dollars in the first quarter, down from the steady 800+ million seen in earlier years. Partial recovery followed through 2019 and into 2020, with operating profits increasing to more than 900 million in some quarters, but results remained volatile.
Nonoperating Expense: Nonoperating expenses were not reported for the early years but appeared starting 2018, with occasional significant charges, such as an 88 million US dollars expense in late 2018. The variability persisted through the subsequent periods without a consistent directional trend.
Interest Income and Expense: Interest income remained low and stable throughout, consistently near 2 to 3 million US dollars. Interest expense showed a slight declining trend from approximately 80 million in 2016 to around 60 million by 2021, indicating potentially improved debt management or changes in borrowing costs.
Income Before Income Taxes and Equity Interests: This measure mirrored operating profit trends, with a steep decline in early 2018 to under 200 million US dollars followed by a gradual recovery peaking above 800 million in some 2020 quarters. The variability suggests sensitivity to costs and operating performance fluctuations.
Provision for Income Taxes: The provisions for income taxes also fluctuated, generally following the pattern of income before taxes. The tax provision notably fell during the 2018 downturn and experienced rebounds aligned with recovery in pre-tax income, indicating proportional tax expense adjustments consistent with profitability changes.
Net Income and Net Income Attributable to Kimberly-Clark Corporation: Net income experienced a significant contraction in early 2018, falling sharply to under 100 million US dollars from prior levels above 500 million. Despite some recovery through late 2018 and 2019, net income remained volatile but trended upward into 2020, reaching and occasionally exceeding previous highs. Net income attributable specifically to the corporation followed the same trajectory, with comparable declines and partial rebounds.

Overall, the data suggest the company faced substantial cost pressures beginning in 2018, negatively impacting gross profit and operating income. Despite these challenges, there was a gradual recovery through 2019 and 2020, aided likely by improved management of expenses and cost of products sold. Interest expenses decreased modestly, and tax provisions adjusted commensurate with changing profitability. The continued volatility in operating and net profits indicates ongoing operational adjustments and a market environment presenting both challenges and opportunities.

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Kimberly-Clark Corp. (NYSE:KMB)

Income Statement Quarterly Data

Income Statement
Quarterly Data