Name: Kimberly-Clark Corp. (NYSE:KMB) | Cash Flow Statement (Quarterly)
Creator: Stock Analysis on Net

Cash Flow Statement
Quarterly Data

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

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Kimberly-Clark Corp., consolidated cash flow 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 income	594)	546)	483)	692)	675)	556)	680)	495)	466)	421)	462)	465)	97)	625)	579)	540)	575)	518)	563)	578)	560)
Depreciation and amortization	189)	190)	192)	201)	213)	217)	230)	236)	234)	230)	217)	224)	211)	184)	182)	180)	178)	177)	179)	177)	172)
Asset impairments	3)	17)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	74)	—)	—)	—)	—)	—)	—)	—)	—)
Stock-based compensation	22)	46)	47)	39)	15)	22)	26)	32)	16)	(4)	19)	8)	18)	12)	14)	30)	20)	13)	19)	30)	15)
Deferred income taxes	(35)	75)	(42)	21)	(9)	21)	(18)	15)	11)	(42)	27)	44)	(27)	(28)	(7)	(9)	(25)	(2)	(16)	37)	(34)
Net (gains) losses on asset dispositions	4)	1)	54)	6)	7)	(38)	(172)	11)	6)	(5)	4)	17)	36)	5)	6)	5)	5)	—)	—)	—)	—)
Equity companies’ earnings (in excess of) less than dividends paid	(39)	23)	(6)	(9)	(38)	25)	(1)	(3)	(27)	36)	7)	2)	(27)	38)	10)	4)	(26)	27)	(1)	—)	(30)
Operating working capital	(400)	71)	(198)	634)	(144)	111)	126)	(150)	(375)	272)	24)	(10)	103)	6)	37)	73)	(264)	185)	197)	57)	(105)
Postretirement benefits	(15)	(35)	22)	(1)	(14)	29)	5)	(9)	(12)	62)	(73)	27)	(41)	3)	7)	13)	(21)	(54)	8)	12)	(16)
Other	(2)	(47)	7)	(4)	(1)	(19)	10)	(18)	(2)	(21)	5)	10)	98)	18)	(23)	(11)	(6)	7)	(1)	(31)	(9)
Cash provided by operations	321)	887)	559)	1,579)	704)	924)	886)	609)	317)	949)	692)	787)	542)	863)	805)	825)	436)	871)	948)	860)	553)
Capital spending	(298)	(323)	(258)	(284)	(352)	(342)	(298)	(253)	(316)	(311)	(219)	(158)	(189)	(190)	(209)	(171)	(215)	(189)	(185)	(177)	(220)
Acquisition, net of cash acquired	—)	(1,083)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Proceeds from dispositions of property	—)	26)	5)	—)	—)	36)	206)	—)	—)	35)	16)	—)	—)	3)	—)	—)	—)	—)	—)	—)	—)
Investments in time deposits	(159)	(244)	(186)	(218)	(105)	(215)	(167)	(106)	(80)	(135)	(71)	(64)	(83)	(91)	(62)	(24)	(37)	(88)	(60)	(14)	(59)
Maturities of time deposits	207)	286)	150)	158)	96)	255)	58)	157)	72)	133)	45)	75)	19)	113)	—)	—)	70)	124)	22)	—)	42)
Other	5)	10)	2)	13)	2)	(9)	(44)	4)	—)	8)	9)	(9)	(3)	(9)	(19)	(14)	4)	(3)	31)	36)	8)
Cash used for investing	(245)	(1,328)	(287)	(331)	(359)	(275)	(245)	(198)	(324)	(270)	(220)	(156)	(256)	(174)	(290)	(209)	(178)	(156)	(192)	(155)	(229)
Cash dividends paid	(359)	(364)	(365)	(365)	(357)	(354)	(354)	(355)	(345)	(347)	(348)	(350)	(341)	(342)	(343)	(345)	(329)	(330)	(331)	(332)	(318)
Change in short-term debt	744)	(64)	170)	(385)	(282)	(21)	(219)	(308)	851)	(487)	349)	(145)	249)	249)	(3)	(82)	196)	(71)	(515)	353)	(675)
Debt proceeds	5)	3)	601)	—)	1,241)	6)	4)	696)	—)	507)	—)	—)	—)	—)	593)	344)	—)	3)	494)	—)	796)
Debt repayments	(253)	(101)	(501)	—)	(252)	(2)	(2)	(301)	(402)	(97)	(306)	(2)	(2)	(509)	(960)	(4)	(8)	(2)	(5)	(589)	(2)
Proceeds from exercise of stock options	10)	5)	77)	27)	108)	17)	51)	134)	26)	12)	28)	8)	14)	7)	7)	29)	78)	10)	39)	27)	31)
Acquisitions of common stock for the treasury	(169)	(251)	(186)	(49)	(214)	(256)	(214)	(166)	(164)	(204)	(176)	(223)	(197)	(107)	(207)	(302)	(295)	(227)	(219)	(153)	(140)
Other	(30)	(23)	(1)	(15)	(24)	(22)	(13)	(71)	(8)	(16)	—)	(35)	(6)	(39)	(3)	(37)	(9)	(31)	3)	6)	(7)
Cash provided by (used for) financing	(52)	(795)	(205)	(787)	220)	(632)	(747)	(371)	(42)	(632)	(453)	(747)	(283)	(741)	(916)	(397)	(367)	(648)	(534)	(688)	(315)
Effect of exchange rate changes on cash and cash equivalents	(7)	21)	3)	8)	(28)	9)	(12)	3)	1)	(2)	(9)	(26)	7)	13)	5)	(3)	21)	(28)	6)	4)	7)
Change in cash and cash equivalents	17)	(1,215)	70)	469)	537)	26)	(118)	43)	(48)	45)	10)	(142)	10)	(39)	(396)	216)	(88)	39)	228)	21)	16)

The analysis of cash flow patterns from March 2016 through March 2021 reveals a company with stable core earnings but significant volatility in operational cash movements and strategic investment shifts.

Operating Cash Flow Dynamics: Cash provided by operations generally fluctuated between 300 million and 950 million US dollars per quarter, with a substantial outlier peak of 1.579 billion US dollars in June 2020. While net income remained relatively consistent, often hovering between 400 million and 600 million US dollars, the total operating cash flow was heavily influenced by volatile swings in operating working capital. Notable working capital outflows occurred in March 2019 and March 2021, while a significant inflow in June 2020 contributed to the period's highest cash generation.
Investment and Capital Expenditure Trends: A gradual upward trend in capital spending is observed over the five-year period. Initial quarterly expenditures in 2016 averaged approximately 180 million to 220 million US dollars, increasing to a range of 250 million to 350 million US dollars by 2019 and 2020. The investing profile shifted dramatically in December 2020 due to a net acquisition totaling 1.083 billion US dollars, resulting in a total cash use for investing of 1.328 billion US dollars for that quarter.
Financing and Shareholder Distributions: Shareholder returns remained a primary focus, characterized by highly consistent cash dividend payments that grew incrementally from approximately 318 million US dollars per quarter in early 2016 to roughly 359 million US dollars by March 2021. Acquisitions of common stock for the treasury were also maintained consistently, typically ranging between 100 million and 300 million US dollars per quarter, though activity slowed significantly in June 2020.
Debt and Liquidity Management: Debt management shows a pattern of periodic large-scale borrowing to maintain liquidity or fund strategic moves. A significant spike in debt proceeds occurred in March 2020, totaling 1.241 billion US dollars, which coincided with a period of overall increased liquidity. This was offset by various debt repayments throughout the period, such as the 960 million US dollar repayment in June 2017. The net change in cash and cash equivalents remained highly variable, reflecting the timing of these large financing events and the impact of the late 2020 acquisition.

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Kimberly-Clark Corp. (NYSE:KMB)

Cash Flow StatementQuarterly Data

Cash Flow Statement
Quarterly Data