filings.toolsItem 16. FORM 10-K SUMMARY
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Item 16. FORM 10-K SUMMARY
None.
| 67 | KIMBERLY-CLARK CORPORATION - 2020 Annual Report |
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| KIMBERLY-CLARK CORPORATION | ||||||||
| February 11, 2021 | By: | /s/ Andrew S. Drexler | ||||||
| Andrew S. Drexler | ||||||||
| Vice President and Controller |
Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
| /s/ Michael D. Hsu | Chairman of the Board and Chief Executive Officer and Director (principal executive officer) | February 11, 2021 | |||||||||
| Michael D. Hsu | |||||||||||
| /s/ Maria Henry | Senior Vice President and Chief Financial Officer (principal financial officer) | February 11, 2021 | |||||||||
| Maria Henry | |||||||||||
| /s/ Andrew S. Drexler | Vice President and Controller (principal accounting officer) | February 11, 2021 | |||||||||
| Andrew S. Drexler |
| Directors | ||||||||
| Abelardo E. Bru | Christa S. Quarles | |||||||
| John W. Culver | Ian C. Read | |||||||
| Robert W. Decherd | Dunia A. Shive | |||||||
| Mae C. Jemison | Mark T. Smucker | |||||||
| S. Todd Maclin | Michael D. White | |||||||
| Sherilyn S. McCoy |
| By: | /s/ Andrew S. Drexler | February 11, 2021 | |||||||||
| Andrew S. Drexler Attorney-in-Fact |
| 68 | KIMBERLY-CLARK CORPORATION - 2020 Annual Report |
KIMBERLY-CLARK CORPORATION AND SUBSIDIARIES
SCHEDULE II
VALUATION AND QUALIFYING ACCOUNTS
FOR THE YEARS ENDED DECEMBER 31, 2020, 2019 AND 2018
(Millions of dollars)
| Description | Balance at Beginning of Period | Additions | Deductions | ||||||||||||||||||||||||||||||||
| Charged to Costs and Expenses | Charged to Other Accounts**(a)** | Write-Offs and Reclassifications | Balance at End of Period | ||||||||||||||||||||||||||||||||
| December 31, 2020 | |||||||||||||||||||||||||||||||||||
| Allowances deducted from assets to which they apply | |||||||||||||||||||||||||||||||||||
| Allowance for doubtful accounts | $ | 32 | $ | 3 | $ | 1 | $ | 2 | (b) | $ | 34 | ||||||||||||||||||||||||
| Allowances for sales discounts | 17 | 240 | (3) | 238 | (c) | 16 | |||||||||||||||||||||||||||||
| December 31, 2019 | |||||||||||||||||||||||||||||||||||
| Allowances deducted from assets to which they apply | |||||||||||||||||||||||||||||||||||
| Allowance for doubtful accounts | $ | 36 | $ | 2 | $ | (1) | $ | 5 | (b) | $ | 32 | ||||||||||||||||||||||||
| Allowances for sales discounts | 17 | 249 | (4) | 245 | (c) | 17 | |||||||||||||||||||||||||||||
| December 31, 2018 | |||||||||||||||||||||||||||||||||||
| Allowances deducted from assets to which they apply | |||||||||||||||||||||||||||||||||||
| Allowance for doubtful accounts | $ | 38 | $ | 15 | $ | (3) | $ | 14 | (b) | $ | 36 | ||||||||||||||||||||||||
| Allowances for sales discounts | 18 | 248 | (4) | 245 | (c) | 17 |
(a)Includes bad debt recoveries and the effects of changes in foreign currency exchange rates.
(b)Primarily uncollectible receivables written off.
(c)Sales discounts allowed.
| Additions | |||||||||||||||||||||||||||||||||||
| Description | Balance at Beginning of Period | Charged to Costs and Expenses | Charged to Other Accounts | Deductions**(a)** | Balance at End of Period | ||||||||||||||||||||||||||||||
| December 31, 2020 | |||||||||||||||||||||||||||||||||||
| Deferred taxes | |||||||||||||||||||||||||||||||||||
| Valuation allowance | $ | 248 | $ | 21 | $ | — | $ | (3) | $ | 272 | |||||||||||||||||||||||||
| December 31, 2019 | |||||||||||||||||||||||||||||||||||
| Deferred taxes | |||||||||||||||||||||||||||||||||||
| Valuation allowance | $ | 220 | $ | 26 | $ | — | $ | (2) | $ | 248 | |||||||||||||||||||||||||
| December 31, 2018 | |||||||||||||||||||||||||||||||||||
| Deferred taxes | |||||||||||||||||||||||||||||||||||
| Valuation allowance | $ | 176 | $ | 55 | $ | — | $ | 11 | $ | 220 |
(a)Represents the net currency effects of translating valuation allowances at current rates of exchange.
| 69 | KIMBERLY-CLARK CORPORATION - 2020 Annual Report |
Previous: Item 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES