Kimberly-Clark (KMB) to sell 51% of IFP unit in $1.7B joint venture

Rhea-AI Filing Summary

Kimberly-Clark Corporation is updating how it presents past results by recasting parts of its 2024 annual report to treat its International Family Care and Professional (IFP) business as discontinued operations. This follows a June 5, 2025 agreement with Suzano S.A. to form a joint venture that will include substantially all former IFP operations. At closing, Suzano and its subsidiaries will acquire a 51% interest in the joint venture for a purchase price of approximately $1.7 billion, while Kimberly-Clark will retain a 49% equity stake.

The company determined this IFP transaction is a strategic shift that will have a major effect on its operations and financial results. As a result, second quarter 2025 and earlier periods in the 2024 Form 10-K are being recast so IFP results appear as discontinued operations. Exhibit 99.1 replaces selected sections, including Management’s Discussion and Analysis and the financial statements, but the filing does not amend or restate other parts of the original 2024 Form 10-K.

Insights

Equity research analyst

Kimberly-Clark reclassifies a major business as discontinued after a $1.7B joint venture deal.

Kimberly-Clark agreed with Suzano S.A. to form a joint venture that will hold substantially all operations of its former International Family Care and Professional segment. At closing, Suzano and its subsidiaries will acquire a 51% interest for approximately $1.7 billion, while Kimberly-Clark retains a 49% equity interest. The company concluded this IFP transaction is a strategic shift with a major effect on operations and financial results.

Because of that conclusion, starting in the second quarter of 2025 the IFP business is reported as discontinued operations in condensed consolidated financial statements. The company is now recasting key portions of its 2024 Form 10-K so all periods presented align with this discontinued-operations treatment. This affects Management’s Discussion and Analysis, the financial statements and related schedules, but leaves other disclosures from the original 2024 Form 10-K unchanged.

For analysis of Kimberly-Clark’s trends, this means historical revenue, profit and cash flow lines will separate the IFP business from continuing operations. Investors comparing periods around 2024–2025 will need to focus on the recast numbers in Exhibit 99.1, which include updated income statements, balance sheets, cash flows and notes reflecting the discontinued IFP segment.

0000055785FALSEhttp://fasb.org/us-gaap/2025#OtherAssetsNoncurrenthttp://fasb.org/us-gaap/2025#OtherAssetsNoncurrenthttp://fasb.org/us-gaap/2025#PropertyPlantAndEquipmentNethttp://fasb.org/us-gaap/2025#PropertyPlantAndEquipmentNethttp://fasb.org/us-gaap/2025#AccruedLiabilitiesCurrenthttp://fasb.org/us-gaap/2025#AccruedLiabilitiesCurrenthttp://fasb.org/us-gaap/2025#DebtCurrenthttp://fasb.org/us-gaap/2025#DebtCurrenthttp://fasb.org/us-gaap/2025#OtherLiabilitiesNoncurrenthttp://fasb.org/us-gaap/2025#OtherLiabilitiesNoncurrenthttp://fasb.org/us-gaap/2025#LongTermDebtAndCapitalLeaseObligationshttp://fasb.org/us-gaap/2025#LongTermDebtAndCapitalLeaseObligationsiso4217:USDiso4217:USDxbrli:sharesxbrli:sharesxbrli:purekmb:reportable_segment00000557852025-12-042025-12-0400000557852024-01-012024-12-3100000557852023-01-012023-12-3100000557852022-01-012022-12-3100000557852024-12-3100000557852023-12-310000055785us-gaap:CommonStockMember2021-12-310000055785us-gaap:AdditionalPaidInCapitalMember2021-12-310000055785us-gaap:TreasuryStockCommonMember2021-12-310000055785us-gaap:RetainedEarningsMember2021-12-310000055785us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-12-310000055785us-gaap:NoncontrollingInterestMember2021-12-3100000557852021-12-310000055785us-gaap:RetainedEarningsMember2022-01-012022-12-310000055785us-gaap:NoncontrollingInterestMember2022-01-012022-12-310000055785us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-01-012022-12-310000055785us-gaap:AdditionalPaidInCapitalMember2022-01-012022-12-310000055785us-gaap:TreasuryStockCommonMember2022-01-012022-12-310000055785us-gaap:CommonStockMember2022-12-310000055785us-gaap:AdditionalPaidInCapitalMember2022-12-310000055785us-gaap:TreasuryStockCommonMember2022-12-310000055785us-gaap:RetainedEarningsMember2022-12-310000055785us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-12-310000055785us-gaap:NoncontrollingInterestMember2022-12-3100000557852022-12-310000055785us-gaap:RetainedEarningsMember2023-01-012023-12-310000055785us-gaap:NoncontrollingInterestMember2023-01-012023-12-310000055785us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-01-012023-12-310000055785us-gaap:AdditionalPaidInCapitalMember2023-01-012023-12-310000055785us-gaap:TreasuryStockCommonMember2023-01-012023-12-310000055785us-gaap:CommonStockMember2023-12-310000055785us-gaap:AdditionalPaidInCapitalMember2023-12-310000055785us-gaap:TreasuryStockCommonMember2023-12-310000055785us-gaap:RetainedEarningsMember2023-12-310000055785us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-12-310000055785us-gaap:NoncontrollingInterestMember2023-12-310000055785us-gaap:RetainedEarningsMember2024-01-012024-12-310000055785us-gaap:NoncontrollingInterestMember2024-01-012024-12-310000055785us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-01-012024-12-310000055785us-gaap:AdditionalPaidInCapitalMember2024-01-012024-12-310000055785us-gaap:TreasuryStockCommonMember2024-01-012024-12-310000055785us-gaap:CommonStockMember2024-12-310000055785us-gaap:AdditionalPaidInCapitalMember2024-12-310000055785us-gaap:TreasuryStockCommonMember2024-12-310000055785us-gaap:RetainedEarningsMember2024-12-310000055785us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-12-310000055785us-gaap:NoncontrollingInterestMember2024-12-3100000557852024-10-012024-12-310000055785us-gaap:BuildingMember2024-12-310000055785srt:MinimumMemberus-gaap:MachineryAndEquipmentMember2024-12-310000055785srt:MaximumMemberus-gaap:MachineryAndEquipmentMember2024-12-310000055785us-gaap:ComputerSoftwareIntangibleAssetMember2024-12-310000055785srt:MinimumMember2024-12-310000055785srt:MaximumMember2024-12-310000055785country:ARus-gaap:GeographicConcentrationRiskMemberus-gaap:SalesMember2024-01-012024-12-310000055785country:ARus-gaap:GeographicConcentrationRiskMemberus-gaap:SalesMember2022-01-012022-12-310000055785country:ARus-gaap:GeographicConcentrationRiskMemberus-gaap:SalesMember2023-01-012023-12-310000055785country:TRus-gaap:GeographicConcentrationRiskMemberus-gaap:SalesMember2023-01-012023-12-310000055785country:TRus-gaap:GeographicConcentrationRiskMemberus-gaap:SalesMember2022-01-012022-12-310000055785country:TRus-gaap:GeographicConcentrationRiskMemberus-gaap:SalesMember2024-01-012024-12-310000055785srt:MinimumMemberkmb:A2024TransformationInitiativeMember2024-01-012024-12-310000055785srt:MaximumMemberkmb:A2024TransformationInitiativeMember2024-01-012024-12-310000055785kmb:BeforeTaxMemberkmb:A2024TransformationInitiativeMember2024-12-310000055785kmb:BeforeTaxMemberus-gaap:CostOfSalesMemberkmb:A2024TransformationInitiativeMember2024-01-012024-12-310000055785kmb:BeforeTaxMemberkmb:AssetwriteoffsMemberus-gaap:CostOfSalesMemberkmb:A2024TransformationInitiativeMember2024-01-012024-12-310000055785kmb:BeforeTaxMemberkmb:IncrementalDepreciationMemberus-gaap:CostOfSalesMemberkmb:A2024TransformationInitiativeMember2024-01-012024-12-310000055785kmb:BeforeTaxMemberkmb:MarketingResearchAndGeneralExpensesMemberkmb:A2024TransformationInitiativeMember2024-01-012024-12-310000055785kmb:BeforeTaxMemberus-gaap:OtherIncomeMemberkmb:A2024TransformationInitiativeMember2024-01-012024-12-310000055785kmb:BeforeTaxMemberkmb:A2024TransformationInitiativeMember2024-01-012024-12-310000055785kmb:A2024TransformationInitiativeMember2024-01-012024-12-310000055785kmb:AfterTaxMemberkmb:A2024TransformationInitiativeMember2024-01-012024-12-310000055785kmb:NorthAmericaNAMemberkmb:A2024TransformationInitiativeMember2024-01-012024-12-310000055785kmb:InternationalPersonalCareIPCMemberkmb:A2024TransformationInitiativeMember2024-01-012024-12-310000055785kmb:A2024TransformationInitiativeMember2023-12-310000055785kmb:WorkforceReductionsAndOtherCashExitCostsMemberkmb:A2024TransformationInitiativeMember2024-01-012024-12-310000055785kmb:A2024TransformationInitiativeMember2024-12-3100000557852023-01-012023-03-3100000557852022-02-242022-02-2400000557852023-04-012023-06-3000000557852023-10-012023-12-310000055785kmb:ThinxIncMember2023-01-012023-12-310000055785kmb:ThinxIncMember2023-12-310000055785kmb:ThinxIncMemberus-gaap:RetainedEarningsMember2023-01-012023-12-310000055785kmb:SaleOfKCProfessionalPersonalProtectiveEquipmentBusinessMember2024-07-012024-07-010000055785kmb:BeforeTaxMemberkmb:SaleOfKCProfessionalPersonalProtectiveEquipmentBusinessMember2024-07-012024-07-010000055785kmb:AfterTaxMemberkmb:SaleOfKCProfessionalPersonalProtectiveEquipmentBusinessMember2024-07-012024-07-010000055785kmb:SaleOfBrazilTissueAssetsMember2023-06-012023-06-010000055785kmb:BeforeTaxMemberkmb:SaleOfBrazilTissueAssetsMember2023-06-012023-06-010000055785kmb:AfterTaxMemberkmb:SaleOfBrazilTissueAssetsMember2023-06-012023-06-010000055785kmb:NorthAmericaNAMember2022-12-310000055785kmb:InternationalPersonalCareIPCMember2022-12-310000055785kmb:NorthAmericaNAMember2023-01-012023-12-310000055785kmb:InternationalPersonalCareIPCMember2023-01-012023-12-310000055785kmb:NorthAmericaNAMember2023-12-310000055785kmb:InternationalPersonalCareIPCMember2023-12-310000055785kmb:NorthAmericaNAMember2024-01-012024-12-310000055785kmb:InternationalPersonalCareIPCMember2024-01-012024-12-310000055785kmb:NorthAmericaNAMember2024-12-310000055785kmb:InternationalPersonalCareIPCMember2024-12-310000055785kmb:BrandNamesMember2024-12-310000055785kmb:BrandNamesMember2024-12-310000055785kmb:BrandNamesMember2023-12-310000055785kmb:BrandNamesMember2023-12-310000055785kmb:TrademarksAndBrandNamesMember2024-12-310000055785kmb:TrademarksAndBrandNamesMember2023-12-310000055785us-gaap:OtherIntangibleAssetsMember2024-12-310000055785us-gaap:OtherIntangibleAssetsMember2023-12-310000055785kmb:BeforeTaxMember2024-07-012024-09-300000055785kmb:AfterTaxMember2024-07-012024-09-300000055785kmb:SoftexIndonesiaMember2023-04-012023-06-300000055785kmb:BeforeTaxMember2023-04-012023-06-300000055785kmb:AfterTaxMember2023-04-012023-06-3000000557852023-06-300000055785us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2024-12-310000055785us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2023-12-310000055785us-gaap:FairValueInputsLevel3Member2024-12-310000055785us-gaap:FairValueInputsLevel3Member2023-12-310000055785kmb:NetAssetValueorItsEquivalentMemberus-gaap:FairValueMeasurementsRecurringMember2024-12-310000055785kmb:NetAssetValueorItsEquivalentMemberus-gaap:FairValueMeasurementsRecurringMember2023-12-310000055785us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:FairValueInputsLevel1Member2024-12-310000055785us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel1Member2024-12-310000055785us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:FairValueInputsLevel1Member2023-12-310000055785us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel1Member2023-12-310000055785us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:FairValueInputsLevel2Member2024-12-310000055785us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel2Member2024-12-310000055785us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:FairValueInputsLevel2Member2023-12-310000055785us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel2Member2023-12-310000055785kmb:NotesAndDebenturesMember2024-12-310000055785kmb:NotesAndDebenturesMember2023-12-310000055785kmb:IndustrialDevelopmentRevenueBondsMember2024-12-310000055785kmb:IndustrialDevelopmentRevenueBondsMember2023-12-310000055785kmb:BankLoansAndOtherFinancingsInVariousCurrenciesMember2024-12-310000055785kmb:BankLoansAndOtherFinancingsInVariousCurrenciesMember2023-12-310000055785kmb:A450NotesDueFebruary162033Member2024-12-310000055785kmb:CreditFacilityExpiringJune2028Member2024-12-310000055785kmb:CreditFacilityExpiringMay2025Member2024-12-310000055785us-gaap:EmployeeStockOptionMember2024-01-012024-12-310000055785kmb:TimeVestedRestrictedShareUnitsMember2024-01-012024-12-310000055785us-gaap:RestrictedStockMember2024-01-012024-12-310000055785us-gaap:PerformanceSharesMemberus-gaap:ShareBasedCompensationAwardTrancheThreeMembersrt:MinimumMember2024-01-012024-12-310000055785us-gaap:PerformanceSharesMemberus-gaap:ShareBasedCompensationAwardTrancheThreeMembersrt:MaximumMember2024-01-012024-12-310000055785us-gaap:SegmentContinuingOperationsMember2024-01-012024-12-310000055785us-gaap:SegmentContinuingOperationsMember2023-01-012023-12-310000055785us-gaap:SegmentContinuingOperationsMember2022-01-012022-12-310000055785us-gaap:EmployeeStockOptionMember2022-01-012022-12-310000055785us-gaap:EmployeeStockOptionMember2024-12-310000055785us-gaap:RestrictedStockMember2024-12-310000055785us-gaap:PerformanceSharesMember2024-12-310000055785us-gaap:PerformanceSharesMember2024-01-012024-12-310000055785us-gaap:EmployeeStockOptionMember2023-12-310000055785us-gaap:EmployeeStockOptionMember2023-01-012023-12-310000055785kmb:TimeVestedRestrictedShareUnitsMember2023-12-310000055785us-gaap:PerformanceSharesMember2023-12-310000055785kmb:TimeVestedRestrictedShareUnitsMember2024-12-310000055785us-gaap:RestrictedStockMember2023-01-012023-12-310000055785us-gaap:RestrictedStockMember2022-01-012022-12-310000055785srt:ScenarioForecastMember2025-12-310000055785srt:ScenarioForecastMember2034-12-310000055785srt:ScenarioForecastMember2034-01-012034-12-310000055785us-gaap:PensionPlansDefinedBenefitMember2023-12-310000055785us-gaap:PensionPlansDefinedBenefitMember2022-12-310000055785us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2023-12-310000055785us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2022-12-310000055785us-gaap:PensionPlansDefinedBenefitMember2024-01-012024-12-310000055785us-gaap:PensionPlansDefinedBenefitMember2023-01-012023-12-310000055785us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2024-01-012024-12-310000055785us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2023-01-012023-12-310000055785us-gaap:PensionPlansDefinedBenefitMember2024-12-310000055785us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2024-12-310000055785kmb:PrincipalPlansMember2024-12-310000055785kmb:PrincipalPlansMember2023-12-310000055785kmb:AllOtherPensionPlansMember2024-12-310000055785kmb:AllOtherPensionPlansMember2023-12-310000055785us-gaap:PensionPlansDefinedBenefitMember2022-01-012022-12-310000055785us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2022-01-012022-12-310000055785srt:ScenarioForecastMemberus-gaap:PensionPlansDefinedBenefitMember2025-01-012025-12-310000055785srt:ScenarioForecastMemberkmb:PrincipalPlansMember2025-12-310000055785kmb:PrincipalPlansMembersrt:ScenarioForecastMemberus-gaap:EquitySecuritiesMember2025-12-310000055785kmb:PrincipalPlansMember2024-01-012024-12-310000055785kmb:PrincipalPlansMember2023-01-012023-12-310000055785kmb:PrincipalPlansMember2022-01-012022-12-310000055785srt:ScenarioForecastMemberkmb:PrincipalPlansMember2025-01-012025-12-310000055785us-gaap:CashAndCashEquivalentsMemberkmb:PrincipalPlansMember2024-12-310000055785us-gaap:FairValueInputsLevel1Memberkmb:PrincipalPlansMemberus-gaap:CashAndCashEquivalentsMember2024-12-310000055785us-gaap:FairValueInputsLevel2Memberkmb:PrincipalPlansMemberus-gaap:CashAndCashEquivalentsMember2024-12-310000055785us-gaap:USTreasuryAndGovernmentMemberkmb:PrincipalPlansMember2024-12-310000055785us-gaap:FairValueInputsLevel1Memberkmb:PrincipalPlansMemberus-gaap:USTreasuryAndGovernmentMember2024-12-310000055785us-gaap:FairValueInputsLevel2Memberkmb:PrincipalPlansMemberus-gaap:USTreasuryAndGovernmentMember2024-12-310000055785us-gaap:CorporateDebtSecuritiesMemberkmb:PrincipalPlansMember2024-12-310000055785us-gaap:FairValueInputsLevel2Memberkmb:PrincipalPlansMemberus-gaap:CorporateDebtSecuritiesMember2024-12-310000055785kmb:U.S.SecuritizedMemberkmb:PrincipalPlansMember2024-12-310000055785us-gaap:FairValueInputsLevel2Memberkmb:PrincipalPlansMemberkmb:U.S.SecuritizedMember2024-12-310000055785us-gaap:ForeignCorporateDebtSecuritiesMemberkmb:PrincipalPlansMember2024-12-310000055785us-gaap:FairValueInputsLevel2Memberkmb:PrincipalPlansMemberus-gaap:ForeignCorporateDebtSecuritiesMember2024-12-310000055785kmb:PrincipalPlansMemberkmb:NetAssetValueorItsEquivalentMemberus-gaap:USTreasuryAndGovernmentMember2024-12-310000055785kmb:PrincipalPlansMemberkmb:NetAssetValueorItsEquivalentMemberkmb:NonU.SSecuritizedMember2024-12-310000055785kmb:PrincipalPlansMemberkmb:NetAssetValueorItsEquivalentMemberus-gaap:ForeignCorporateDebtSecuritiesMember2024-12-310000055785us-gaap:DefinedBenefitPlanEquitySecuritiesUsMemberkmb:PrincipalPlansMember2024-12-310000055785us-gaap:FairValueInputsLevel1Memberkmb:PrincipalPlansMemberus-gaap:DefinedBenefitPlanEquitySecuritiesUsMember2024-12-310000055785kmb:InternationalEquityMemberkmb:PrincipalPlansMember2024-12-310000055785us-gaap:FairValueInputsLevel1Memberkmb:PrincipalPlansMemberus-gaap:DefinedBenefitPlanEquitySecuritiesNonUsMember2024-12-310000055785us-gaap:DefinedBenefitPlanEquitySecuritiesNonUsMemberkmb:PrincipalPlansMember2024-12-310000055785kmb:GlobalEquityMemberkmb:PrincipalPlansMember2024-12-310000055785kmb:InsuranceContractMemberkmb:PrincipalPlansMember2024-12-310000055785us-gaap:FairValueInputsLevel3Memberkmb:PrincipalPlansMemberkmb:InsuranceContractMember2024-12-310000055785kmb:OtherMemberkmb:PrincipalPlansMember2024-12-310000055785us-gaap:FairValueInputsLevel1Memberkmb:PrincipalPlansMemberkmb:OtherMember2024-12-310000055785us-gaap:FairValueInputsLevel1Memberkmb:PrincipalPlansMember2024-12-310000055785us-gaap:FairValueInputsLevel2Memberkmb:PrincipalPlansMember2024-12-310000055785us-gaap:FairValueInputsLevel3Memberkmb:PrincipalPlansMember2024-12-310000055785us-gaap:CashAndCashEquivalentsMemberkmb:PrincipalPlansMember2023-12-310000055785us-gaap:FairValueInputsLevel1Memberkmb:PrincipalPlansMemberus-gaap:CashAndCashEquivalentsMember2023-12-310000055785us-gaap:FairValueInputsLevel2Memberkmb:PrincipalPlansMemberus-gaap:CashAndCashEquivalentsMember2023-12-310000055785us-gaap:USTreasuryAndGovernmentMemberkmb:PrincipalPlansMember2023-12-310000055785us-gaap:FairValueInputsLevel1Memberkmb:PrincipalPlansMemberus-gaap:USTreasuryAndGovernmentMember2023-12-310000055785us-gaap:FairValueInputsLevel2Memberkmb:PrincipalPlansMemberus-gaap:USTreasuryAndGovernmentMember2023-12-310000055785us-gaap:CorporateDebtSecuritiesMemberkmb:PrincipalPlansMember2023-12-310000055785us-gaap:FairValueInputsLevel2Memberkmb:PrincipalPlansMemberus-gaap:CorporateDebtSecuritiesMember2023-12-310000055785us-gaap:ForeignCorporateDebtSecuritiesMemberkmb:PrincipalPlansMember2023-12-310000055785us-gaap:FairValueInputsLevel2Memberkmb:PrincipalPlansMemberus-gaap:ForeignCorporateDebtSecuritiesMember2023-12-310000055785kmb:PrincipalPlansMemberkmb:NetAssetValueorItsEquivalentMemberus-gaap:USTreasuryAndGovernmentMember2023-12-310000055785kmb:PrincipalPlansMemberkmb:NetAssetValueorItsEquivalentMemberus-gaap:CorporateDebtSecuritiesMember2023-12-310000055785kmb:PrincipalPlansMemberkmb:NetAssetValueorItsEquivalentMemberkmb:NonU.SSecuritizedMember2023-12-310000055785kmb:PrincipalPlansMemberkmb:NetAssetValueorItsEquivalentMemberus-gaap:ForeignCorporateDebtSecuritiesMember2023-12-310000055785kmb:USEquityMemberkmb:PrincipalPlansMember2023-12-310000055785us-gaap:FairValueInputsLevel1Memberkmb:PrincipalPlansMemberkmb:USEquityMember2023-12-310000055785kmb:InternationalEquityMemberkmb:PrincipalPlansMember2023-12-310000055785us-gaap:FairValueInputsLevel1Memberkmb:PrincipalPlansMemberkmb:InternationalEquityMember2023-12-310000055785kmb:PrincipalPlansMemberkmb:NetAssetValueorItsEquivalentMemberkmb:NonUSEquityMember2023-12-310000055785kmb:PrincipalPlansMemberkmb:NetAssetValueorItsEquivalentMemberkmb:GlobalEquityMember2023-12-310000055785kmb:InsuranceContractMemberkmb:PrincipalPlansMember2023-12-310000055785us-gaap:FairValueInputsLevel3Memberkmb:PrincipalPlansMemberkmb:InsuranceContractMember2023-12-310000055785kmb:OtherMemberkmb:PrincipalPlansMember2023-12-310000055785us-gaap:FairValueInputsLevel1Memberkmb:PrincipalPlansMemberkmb:OtherMember2023-12-310000055785us-gaap:FairValueInputsLevel1Memberkmb:PrincipalPlansMember2023-12-310000055785us-gaap:FairValueInputsLevel2Memberkmb:PrincipalPlansMember2023-12-310000055785us-gaap:FairValueInputsLevel3Memberkmb:PrincipalPlansMember2023-12-310000055785kmb:U.S.PensionPlanMember2024-12-310000055785kmb:U.S.PensionPlanMember2023-12-310000055785kmb:U.K.PensionPlanMember2024-12-310000055785kmb:U.K.PensionPlanMember2023-12-310000055785srt:ScenarioForecastMemberus-gaap:PensionPlansDefinedBenefitMember2025-12-310000055785kmb:UnrealizedTranslationMember2024-01-012024-12-310000055785kmb:UnrealizedTranslationMember2021-12-310000055785us-gaap:PensionPlansDefinedBenefitMember2021-12-310000055785us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2021-12-310000055785kmb:UnrealizedTranslationMember2022-01-012022-12-310000055785us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2022-01-012022-12-310000055785kmb:UnrealizedTranslationMember2022-12-310000055785kmb:UnrealizedTranslationMember2023-01-012023-12-310000055785us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2023-01-012023-12-310000055785kmb:UnrealizedTranslationMember2023-12-310000055785us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2024-01-012024-12-310000055785kmb:UnrealizedTranslationMember2024-12-310000055785us-gaap:ParentMember2024-01-012024-12-310000055785us-gaap:ParentMember2023-01-012023-12-310000055785us-gaap:ParentMember2022-01-012022-12-310000055785us-gaap:PensionPlansDefinedBenefitMemberkmb:UnrecognizedNetActuarialLossAndTransitionAmountMember2024-01-012024-12-310000055785us-gaap:PensionPlansDefinedBenefitMemberkmb:UnrecognizedNetActuarialLossAndTransitionAmountMember2023-01-012023-12-310000055785us-gaap:PensionPlansDefinedBenefitMemberkmb:UnrecognizedNetActuarialLossAndTransitionAmountMember2022-01-012022-12-310000055785us-gaap:PensionPlansDefinedBenefitMemberkmb:UnrecognizedPriorServiceCostMember2024-01-012024-12-310000055785us-gaap:PensionPlansDefinedBenefitMemberkmb:UnrecognizedPriorServiceCostMember2023-01-012023-12-310000055785us-gaap:PensionPlansDefinedBenefitMemberkmb:UnrecognizedPriorServiceCostMember2022-01-012022-12-310000055785us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberkmb:UnrecognizedNetActuarialLossAndTransitionAmountMember2024-01-012024-12-310000055785us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberkmb:UnrecognizedNetActuarialLossAndTransitionAmountMember2023-01-012023-12-310000055785us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberkmb:UnrecognizedNetActuarialLossAndTransitionAmountMember2022-01-012022-12-310000055785kmb:CostOfProductsSoldMarketingResearchAndGeneralExpenseMember2024-01-012024-12-310000055785kmb:CostOfProductsSoldMarketingResearchAndGeneralExpenseMember2023-01-012023-12-310000055785kmb:CostOfProductsSoldMarketingResearchAndGeneralExpenseMember2022-01-012022-12-310000055785us-gaap:CostOfSalesMember2024-01-012024-12-310000055785us-gaap:CostOfSalesMember2023-01-012023-12-310000055785us-gaap:CostOfSalesMember2022-01-012022-12-310000055785us-gaap:InterestExpenseMember2024-01-012024-12-310000055785us-gaap:InterestExpenseMember2023-01-012023-12-310000055785us-gaap:InterestExpenseMember2022-01-012022-12-310000055785us-gaap:PropertyPlantAndEquipmentMember2024-12-310000055785us-gaap:PropertyPlantAndEquipmentMember2023-12-310000055785us-gaap:OtherLiabilitiesMember2024-12-310000055785us-gaap:OtherLiabilitiesMember2023-12-310000055785us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMember2024-12-310000055785us-gaap:ForeignExchangeContractMemberus-gaap:CashFlowHedgingMember2024-12-310000055785us-gaap:ForeignExchangeContractMemberus-gaap:NetInvestmentHedgingMember2024-12-310000055785us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMember2024-01-012024-12-310000055785us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMember2023-01-012023-12-310000055785us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMember2022-01-012022-12-310000055785us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMember2024-12-310000055785kmb:U.S.TaxCutsandJobsActMember2024-12-310000055785country:USus-gaap:DomesticCountryMembersrt:MinimumMember2024-01-012024-12-310000055785country:USus-gaap:DomesticCountryMembersrt:MaximumMember2024-01-012024-12-310000055785country:BRus-gaap:ForeignCountryMembersrt:MinimumMember2024-01-012024-12-310000055785country:BRus-gaap:ForeignCountryMembersrt:MaximumMember2024-01-012024-12-310000055785country:CNus-gaap:ForeignCountryMembersrt:MinimumMember2024-01-012024-12-310000055785country:CNus-gaap:ForeignCountryMembersrt:MaximumMember2024-01-012024-12-310000055785currency:KRWus-gaap:ForeignCountryMembersrt:MinimumMember2024-01-012024-12-310000055785currency:KRWus-gaap:ForeignCountryMembersrt:MaximumMember2024-01-012024-12-310000055785kmb:BrazilTaxMatterMember2024-12-310000055785us-gaap:OperatingSegmentsMemberkmb:NorthAmericaNAMember2024-01-012024-12-310000055785us-gaap:OperatingSegmentsMemberkmb:InternationalPersonalCareIPCMember2024-01-012024-12-310000055785us-gaap:OperatingSegmentsMember2024-01-012024-12-310000055785us-gaap:CorporateNonSegmentMember2024-01-012024-12-310000055785us-gaap:OperatingSegmentsMemberkmb:NorthAmericaNAMember2023-01-012023-12-310000055785us-gaap:OperatingSegmentsMemberkmb:InternationalPersonalCareIPCMember2023-01-012023-12-310000055785us-gaap:OperatingSegmentsMember2023-01-012023-12-310000055785us-gaap:CorporateNonSegmentMember2023-01-012023-12-310000055785us-gaap:OperatingSegmentsMemberkmb:NorthAmericaNAMember2022-01-012022-12-310000055785us-gaap:OperatingSegmentsMemberkmb:InternationalPersonalCareIPCMember2022-01-012022-12-310000055785us-gaap:OperatingSegmentsMember2022-01-012022-12-310000055785us-gaap:CorporateNonSegmentMember2022-01-012022-12-310000055785us-gaap:OperatingSegmentsMember2024-10-012024-12-310000055785kmb:BabyandchildcareproductsMember2024-01-012024-12-310000055785kmb:BabyandchildcareproductsMember2023-01-012023-12-310000055785kmb:BabyandchildcareproductsMember2022-01-012022-12-310000055785kmb:ConsumerTissueProductsMember2024-01-012024-12-310000055785kmb:ConsumerTissueProductsMember2023-01-012023-12-310000055785kmb:ConsumerTissueProductsMember2022-01-012022-12-310000055785kmb:AwayFromHomeProfessionalProductsMember2024-01-012024-12-310000055785kmb:AwayFromHomeProfessionalProductsMember2023-01-012023-12-310000055785kmb:AwayFromHomeProfessionalProductsMember2022-01-012022-12-310000055785kmb:AdultCareProductsMember2024-01-012024-12-310000055785kmb:AdultCareProductsMember2023-01-012023-12-310000055785kmb:AdultCareProductsMember2022-01-012022-12-310000055785kmb:FeminineCareProductsMember2024-01-012024-12-310000055785kmb:FeminineCareProductsMember2023-01-012023-12-310000055785kmb:FeminineCareProductsMember2022-01-012022-12-310000055785kmb:AllOtherMember2024-01-012024-12-310000055785kmb:AllOtherMember2023-01-012023-12-310000055785kmb:AllOtherMember2022-01-012022-12-310000055785country:US2023-01-012023-12-310000055785country:US2024-01-012024-12-310000055785country:US2022-01-012022-12-310000055785kmb:WalmartInc.MemberMemberus-gaap:CustomerConcentrationRiskMemberus-gaap:SalesMember2024-01-012024-12-310000055785kmb:WalmartInc.MemberMemberus-gaap:CustomerConcentrationRiskMemberus-gaap:SalesMember2022-01-012022-12-310000055785kmb:WalmartInc.MemberMemberus-gaap:CustomerConcentrationRiskMemberus-gaap:SalesMember2023-01-012023-12-310000055785kmb:EquityMethodInvestmentSummarizedFinancialInformationNetSalesMember2024-01-012024-12-310000055785kmb:EquityMethodInvestmentSummarizedFinancialInformationGrossProfitMember2024-01-012024-12-310000055785kmb:EquityMethodInvestmentsSummarizedFinancialInformationNetIncomeMember2024-01-012024-12-310000055785kmb:EquityMethodInvestmentSummarizedFinancialInformationNetSalesMember2023-01-012023-12-310000055785kmb:EquityMethodInvestmentSummarizedFinancialInformationGrossProfitMember2023-01-012023-12-310000055785kmb:EquityMethodInvestmentsSummarizedFinancialInformationNetIncomeMember2023-01-012023-12-310000055785kmb:EquityMethodInvestmentSummarizedFinancialInformationNetSalesMember2022-01-012022-12-310000055785kmb:EquityMethodInvestmentSummarizedFinancialInformationGrossProfitMember2022-01-012022-12-310000055785kmb:EquityMethodInvestmentsSummarizedFinancialInformationNetIncomeMember2022-01-012022-12-310000055785kmb:EquityMethodInvestmentSummarizedFinancialInformationCurrentAssetsMember2024-12-310000055785kmb:EquityMethodInvestmentSummarizedFinancialInformationNoncurrentAssetsMember2024-12-310000055785kmb:EquityMethodInvestmentsSummarizedFinancialInformationCurrentLiabilitiesMember2024-12-310000055785kmb:EquityMethodInvestmentSummarizedFinancialInformationNoncurrentLiabilitiesMember2024-12-310000055785kmb:EquityMethodInvestmentsSummarizedFinancialInformationStockholdersEquityMember2024-12-310000055785kmb:EquityMethodInvestmentSummarizedFinancialInformationCurrentAssetsMember2023-12-310000055785kmb:EquityMethodInvestmentSummarizedFinancialInformationNoncurrentAssetsMember2023-12-310000055785kmb:EquityMethodInvestmentsSummarizedFinancialInformationCurrentLiabilitiesMember2023-12-310000055785kmb:EquityMethodInvestmentSummarizedFinancialInformationNoncurrentLiabilitiesMember2023-12-310000055785kmb:EquityMethodInvestmentsSummarizedFinancialInformationStockholdersEquityMember2023-12-310000055785kmb:EquityMethodInvestmentSummarizedFinancialInformationCurrentAssetsMember2022-12-310000055785kmb:EquityMethodInvestmentSummarizedFinancialInformationNoncurrentAssetsMember2022-12-310000055785kmb:EquityMethodInvestmentsSummarizedFinancialInformationCurrentLiabilitiesMember2022-12-310000055785kmb:EquityMethodInvestmentSummarizedFinancialInformationNoncurrentLiabilitiesMember2022-12-310000055785kmb:EquityMethodInvestmentsSummarizedFinancialInformationStockholdersEquityMember2022-12-310000055785kmb:KimberlyClarkDeMexicoSABDeCVAndSubsidiariesMember2024-12-310000055785us-gaap:AccountsReceivableMember2024-01-012024-12-310000055785kmb:LifoMember2024-12-310000055785kmb:NonLifoMember2024-12-310000055785kmb:LifoMember2023-12-310000055785kmb:NonLifoMember2023-12-310000055785country:US2023-12-310000055785country:US2024-12-310000055785us-gaap:SegmentDiscontinuedOperationsMember2024-12-310000055785us-gaap:SegmentDiscontinuedOperationsMember2023-12-310000055785us-gaap:AllowanceForCreditLossMember2023-12-310000055785us-gaap:AllowanceForCreditLossMember2024-01-012024-12-310000055785us-gaap:AllowanceForCreditLossMember2024-12-310000055785kmb:AllowancesForSalesDiscountsMember2023-12-310000055785kmb:AllowancesForSalesDiscountsMember2024-01-012024-12-310000055785kmb:AllowancesForSalesDiscountsMember2024-12-310000055785us-gaap:AllowanceForCreditLossMember2022-12-310000055785us-gaap:AllowanceForCreditLossMember2023-01-012023-12-310000055785kmb:AllowancesForSalesDiscountsMember2022-12-310000055785kmb:AllowancesForSalesDiscountsMember2023-01-012023-12-310000055785us-gaap:AllowanceForCreditLossMember2021-12-310000055785us-gaap:AllowanceForCreditLossMember2022-01-012022-12-310000055785kmb:AllowancesForSalesDiscountsMember2021-12-310000055785kmb:AllowancesForSalesDiscountsMember2022-01-012022-12-310000055785kmb:DeferredTaxesMember2023-12-310000055785kmb:DeferredTaxesMember2024-01-012024-12-310000055785kmb:DeferredTaxesMember2024-12-310000055785kmb:DeferredTaxesMember2022-12-310000055785kmb:DeferredTaxesMember2023-01-012023-12-310000055785kmb:DeferredTaxesMember2021-12-310000055785kmb:DeferredTaxesMember2022-01-012022-12-31

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report: December 4, 2025

(Date of earliest event reported)

KIMBERLY-CLARK CORPORATION

(Exact name of registrant as specified in its charter)

Delaware			1-225			39-0394230
(State or other jurisdiction of incorporation)			(Commission file number)			(I.R.S. Employer Identification No.)

P.O. Box 619100

Dallas, TX

75261-9100

(Address of principal executive offices)

(Zip code)

Registrant’s telephone number, including area code: (972) 281-1200

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock-$1.25 par value

KMB

The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 8.01    Other Events.

Kimberly-Clark Corporation (the "Corporation") is filing this Current Report on Form 8-K ("Form 8-K") to recast certain financial information and related disclosures included in the Corporation's Annual Report on Form 10-K for the fiscal year ended December 31, 2024, originally filed with the Securities and Exchange Commission ("SEC") on February 13, 2025 ("2024 Form 10-K").

International Family Care and Professional ("IFP") Transaction

As previously disclosed, on June 5, 2025, Kimberly-Clark Corporation ("Kimberly-Clark" or the "Company") announced the entry into an agreement with Suzano S.A. ("Suzano") to form a joint venture to be comprised of substantially all the operations of the Company's former IFP segment (the "IFP Business"). At the time of closing, Suzano along with certain of its wholly-owned subsidiaries will acquire a 51% interest in the joint venture for a purchase price of approximately $1.7 billion, subject to certain closing adjustments, and the Company will retain a 49% equity interest (the "IFP Transaction").

The Company determined the IFP Transaction represents a strategic shift that will have a major effect on its operations and financial results. As a result, effective in the second quarter of fiscal 2025, the results of the IFP Business are reported as discontinued operations in the Company's condensed consolidated financial statements. We are recasting certain financial information and related disclosures included in our 2024 Form 10-K to reflect the presentation of the IFP Business as discontinued operations.

Exhibit 99.1 filed with this Form 8-K includes the following revised portions of our 2024 Form 10-K for all periods presented to reflect the presentation of our IFP Business as discontinued operations:

•Part II, Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations

•Part II, Item 8. Financial Statements and Supplementary Data

•Part IV, Item 15. Exhibits, Financial Statements Schedules

Except as specifically set forth herein to reflect the IFP Business as discontinued operations, no revisions have been made to our 2024 Form 10-K to update for other information, developments or events that have occurred since such filing. This Form 8-K and related exhibits should be read in conjunction with our 2024 Form 10-K and subsequent filings with the SEC, including Quarterly Reports on Form 10-Q for the periods ended March 31, 2025, June 30, 2025, and September 30, 2025 and Current Reports on Form 8-K. These subsequent SEC filings contain important information regarding events, risks, developments and updates affecting the Corporation and our expectations that have occurred since the filing of our 2024 Form 10-K. The information contained herein is not an amendment to, or a restatement of our 2024 Form 10-K. Unaffected items and unaffected portions of our 2024 Form 10-K have not been repeated in, and are not amended or modified by this Form 8-K or related exhibits.

Item 9.01    Financial Statements and Exhibits.

(d)Exhibits.

Exhibit No.						Description
23						Consent of Independent Registered Public Accounting Firm
99.1						Revisions to the 2024 Form 10-K to reflect recast financial information for discontinued operations, where applicable

101    The following financial information for the fiscal year ended December 31, 2024 of Kimberly-Clark Corporation and subsidiaries, included in Exhibit 99.1, to this Current Report on Form 8-K, dated December 4, 2025, formatted in Inline XBRL (eXtensible Business Reporting Language) and filed electronically herewith: (i) the Consolidated Statements of Income; (ii) the Consolidated Statements of Comprehensive Income; (iii) the Consolidated Balance Sheets; (iv) the Consolidated Statements of Stockholders' Equity; (v) the Consolidated Statements of Cash Flows; (vi) the Notes to the Consolidated Financial Statements.

104    The cover page from this Current Report on Form 8-K, formatted in Inline XBRL.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

						KIMBERLY-CLARK CORPORATION
By:						/s/ Andrew Scribner
						Andrew Scribner
						Vice President and Controller

Date:    December 4, 2025

FAQ

What did Kimberly-Clark (KMB) disclose in this 8-K filing?

Kimberly-Clark disclosed that it is recasting portions of its 2024 Form 10-K so that the International Family Care and Professional (IFP) business is presented as discontinued operations. The filing also references a joint venture agreement with Suzano S.A. involving this business.

What is the International Family Care and Professional (IFP) transaction with Suzano?

On June 5, 2025, Kimberly-Clark announced an agreement with Suzano S.A. to form a joint venture that will include substantially all operations of its former IFP segment. At closing, Suzano and certain subsidiaries will acquire a 51% interest in the joint venture for approximately $1.7 billion, and Kimberly-Clark will retain a 49% equity interest.

Why is Kimberly-Clark classifying the IFP business as discontinued operations?

The company determined that the IFP transaction represents a strategic shift that will have a major effect on its operations and financial results. Because of this, effective in the second quarter of fiscal 2025, results of the IFP business are reported as discontinued operations in its condensed consolidated financial statements.

Which parts of the 2024 Form 10-K are being recast by Kimberly-Clark?

Exhibit 99.1 contains revised portions of the 2024 Form 10-K to reflect the IFP business as discontinued operations, including: (1) Part II, Item 7, Management's Discussion and Analysis; (2) Part II, Item 8, Financial Statements and Supplementary Data; and (3) Part IV, Item 15, Exhibits and Financial Statement Schedules.

Is this Kimberly-Clark 8-K an amendment or restatement of the 2024 Form 10-K?

No. The company states that the information is not an amendment to or a restatement of the 2024 Form 10-K. Except for recasting to show the IFP business as discontinued operations, no other revisions are made to update for subsequent information, developments or events.

What financial information is included in Exhibit 101 of Kimberly-Clark’s 8-K?

Exhibit 101 includes 2024 financial information in Inline XBRL format, drawn from Exhibit 99.1: the Consolidated Statements of Income, Comprehensive Income, Balance Sheets, Statements of Stockholders' Equity, Statements of Cash Flows, and the Notes to the Consolidated Financial Statements.