Name: Kimberly-Clark Corp. (NYSE:KMB) | Liabilities and Stockholders’ Equity
Creator: Stock Analysis on Net

Balance Sheet: Liabilities and Stockholders’ Equity

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

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Kimberly-Clark Corp., consolidated balance sheet: liabilities and stockholders’ equity

US$ in millions

	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016
Debt payable within one year	486)	1,534)	1,208)	953)	1,133)
Trade accounts payable	3,336)	3,055)	3,190)	2,834)	2,609)
Accrued advertising and promotion	443)	415)	399)	394)	373)
Accrued salaries and wages	531)	463)	369)	449)	426)
Accrued rebates	255)	241)	239)	227)	220)
Accrued taxes, income and other	332)	231)	260)	249)	259)
Current operating lease liabilities	133)	130)	—)	—)	—)
Accrued restructuring	73)	93)	118)	—)	—)
Accrued interest	87)	81)	75)	68)	96)
Other	408)	324)	333)	343)	401)
Accrued expenses and other current liabilities	2,262)	1,978)	1,793)	1,730)	1,775)
Dividends payable	359)	352)	345)	341)	329)
Current liabilities	6,443)	6,919)	6,536)	5,858)	5,846)
Long-term debt, excluding payable within one year	7,878)	6,213)	6,247)	6,472)	6,439)
Noncurrent employee benefits	864)	897)	931)	1,184)	1,301)
Deferred income taxes	723)	511)	458)	395)	532)
Other liabilities	718)	520)	328)	299)	309)
Noncurrent liabilities	10,183)	8,141)	7,964)	8,350)	8,581)
Total liabilities	16,626)	15,060)	14,500)	14,208)	14,427)
Redeemable preferred securities of subsidiaries	28)	29)	64)	61)	58)
Preferred stock, no par value; none issued	—)	—)	—)	—)	—)
Common stock, $1.25 par value	473)	473)	473)	473)	473)
Additional paid-in capital	657)	556)	548)	776)	697)
Common stock held in treasury, at cost	(4,899)	(4,454)	(3,956)	(4,431)	(3,629)
Retained earnings	7,567)	6,686)	5,947)	6,730)	5,831)
Accumulated other comprehensive loss	(3,172)	(3,294)	(3,299)	(2,919)	(3,474)
Total Kimberly-Clark Corporation stockholders’ equity	626)	(33)	(287)	629)	(102)
Noncontrolling interests	243)	227)	241)	253)	219)
Total stockholders’ equity	869)	194)	(46)	882)	117)
Total liabilities and stockholders’ equity	17,523)	15,283)	14,518)	15,151)	14,602)

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).

The financial position of the company from 2016 to 2020 is characterized by a steady increase in total liabilities and significant volatility within stockholders' equity. Total liabilities rose from 14,427 million US$ in 2016 to 16,626 million US$ by 2020, reflecting an overall expansion of the company's obligations over the five-year period.

Current Liabilities and Short-Term Obligations: Current liabilities exhibited a general upward trend until 2019, peaking at 6,919 million US$ before declining to 6,443 million US$ in 2020. A notable fluctuation is observed in debt payable within one year, which increased from 1,133 million US$ in 2016 to a peak of 1,534 million US$ in 2019, followed by a sharp reduction to 486 million US$ in 2020. Concurrently, trade accounts payable demonstrated consistent growth, increasing from 2,609 million US$ in 2016 to 3,336 million US$ in 2020, suggesting an increase in short-term operational credit utilization.
Long-Term Debt and Noncurrent Liabilities: Noncurrent liabilities remained relatively stable between 2016 and 2019, hovering between 7,964 million US$ and 8,581 million US$. However, a significant increase occurred in 2020, with noncurrent liabilities rising to 10,183 million US$. This was primarily driven by a surge in long-term debt, which jumped to 7,878 million US$ in 2020 from 6,213 million US$ in 2019. In contrast, noncurrent employee benefits showed a steady decline, dropping from 1,301 million US$ in 2016 to 864 million US$ in 2020.
Stockholders' Equity and Capital Structure: Total stockholders' equity experienced substantial volatility, alternating between positive and negative values. Equity was 117 million US$ in 2016, peaked at 882 million US$ in 2017, turned negative at -46 million US$ in 2018, and recovered to 869 million US$ by 2020. This instability is largely attributed to the aggressive acquisition of treasury stock, which increased from a cost of -3,629 million US$ in 2016 to -4,899 million US$ in 2020. Retained earnings grew from 5,831 million US$ in 2016 to 7,567 million US$ in 2020, although a dip was recorded in 2018. Accumulated other comprehensive losses remained a consistent negative factor, fluctuating between -2,919 million US$ and -3,474 million US$.
Overall Balance Sheet Expansion: The total of liabilities and stockholders' equity grew from 14,602 million US$ in 2016 to 17,523 million US$ in 2020. The growth is predominantly attributed to the increase in total liabilities, particularly the expansion of long-term debt in the final year of the period analyzed.

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