NOTE: The accompanying financial statements have been prepared in part for the purpose of filing with the Department of Labor's Form 5500. Supplemental schedules required by Section 2520.103-10 of the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974 ("ERISA"), other than the schedule listed above, are omitted because of the absence of the conditions under which they are required.
Tel: 214-969-7007 Fax: 214-953-0722 www.bdo.com
600 North Pearl, Suite 1700 Dallas, TX 75201
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the Plan Administrator and Participants of the
Kimberly-Clark Corporation 401(k) and Profit Sharing Plan
Opinion on the Financial Statements
We have audited the accompanying statements of net assets available for benefits of the Kimberly-Clark Corporation 401(k) and Profit Sharing Plan (the “Plan”) as of December 31, 2021 and 2020, the related statements of changes in net assets available for benefits for the years then ended, and the related notes (collectively, the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2021 and 2020, and the changes in net assets available for benefits for the years then ended, in conformity with accounting principles generally accepted in the United States of America.
Basis for Opinion
These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on the Plan’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Plan is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Plan’s internal control over financial reporting. Accordingly, we express no such opinion.
Our audits included performing procedures to assess the risk of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by the Plan’s management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.
Supplemental Information
The supplemental information in the accompanying Schedule H, Line 4i- Schedule of Assets, (Held at End of Year) as of December 31, 2021, has been subjected to audit procedures performed in conjunction with the audit of the Plan’s financial statements. The supplemental information is presented for the purpose of additional analysis and is not a required part of the financial statements but included supplemental information required by the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. The supplemental information is the responsibility of the Plan’s management. Our audit procedures included determining whether the supplemental information reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental information. In forming our opinion on the supplemental information, we evaluated whether the supplemental information, including its form and content, is presented in conformity with the Department of Labor’s Rules and Regulations for Reporting and
BDO USA, LLP, a Delaware limited liability partnership, is the U.S. member of BDO International Limited, a UK company limited by guarantee, and forms part of the international BDO network of independent member firms.
BDO is the brand name for the BDO network and for each of the BDO Member Firms.
3
Tel: 214-969-7007 Fax: 214-953-0722 www.bdo.com
600 North Pearl, Suite 1700 Dallas, TX 75201
Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental information is fairly stated, in all material respects, in relation to the financial statements as a whole.
/s/ BDO USA, LLP
We have served as the Plan’s auditor since 2018.
Dallas, Texas
June 28, 2022
BDO USA, LLP, a Delaware limited liability partnership, is the U.S. member of BDO International Limited, a UK company limited by guarantee, and forms part of the international BDO network of independent member firms.
BDO is the brand name for the BDO network and for each of the BDO Member Firms.
4
KIMBERLY-CLARK CORPORATION
401(K) AND PROFIT SHARING PLAN
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
December 31
(Thousands of dollars)
2021
2020
Assets
Investments at fair value
$
4,822,602
$
4,363,962
Receivables:
Dividends and interest
1,706
1,751
Employee contributions
5,134
4,977
Employer matching contributions
3,263
3,132
Employer profit sharing contributions
26,855
53,890
Notes receivable from participants
32,852
34,328
Total Receivables
69,810
98,078
Total Assets
4,892,412
4,462,040
Liabilities
Fees payable and pending disbursements
747
2,344
Total Liabilities
747
2,344
Net Assets Available for Benefits
$
4,891,665
$
4,459,696
See Notes to Financial Statements.
5
KIMBERLY-CLARK CORPORATION
401(K) AND PROFIT SHARING PLAN
STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
The following brief description of the Kimberly-Clark Corporation 401(k) and Profit Sharing Plan (the "Plan") is provided for general information purposes only. Participants should refer to the Plan document for more complete information.
The financial statements represent the accounts of the Plan in conformity with accounting principles generally accepted in the United States of America ("GAAP").
General
The Plan, sponsored by Kimberly-Clark Corporation (the "Corporation"), was adopted effective January 1, 2010. It is a defined contribution plan covering eligible employees of the Corporation and its participating subsidiaries. The Plan is an employee stock ownership plan, as defined in Section 4975 of the Internal Revenue Code of 1986 (the "Code"). Salary, hourly non-union and hourly union (as bargained) employees of the Corporation and its participating U.S. subsidiaries (collectively, the "Employer") are eligible to participate in the Plan.
The Board of Directors of the Corporation or its delegate may change the eligibility and other provisions of the Plan from time to time. The assets of the Plan are held with The Northern Trust Company (the "Trustee"). The named fiduciary for the Plan is the Benefits Administration Committee (the "BAC").
Contributions
An eligible employee may elect to make contributions that are deducted from compensation paid by the Employer before federal income taxes are withheld ("401(k) contributions"), after-tax contributions, and Roth 401(k) contributions in any combination up to 50% in whole percentages of base salary. 401(k) contributions, after-tax contributions, and Roth 401(k) contributions in any combination up to 4% of base salary are eligible for Company Match Safe Harbor contributions ("Employer matching contributions"). Employees that are new hires or re-hires are automatically enrolled in the Plan at an 8% 401(k) contribution rate and have the option to opt out of the contribution.
Employer matching contributions are matched 100% on the first 4% of eligible earnings. The Employer matching contributions are not required to meet anti-discrimination requirements and testing and do not require distinction of highly compensated employees. Employer matching contributions are accounted for separately and share in the net appreciation or depreciation in fair value of investments, dividends, interest and expenses in the same manner as contributions made by a participant. All Employer matching contributions are invested according to the participants' contribution investment elections. Employer matching contributions and future earnings (losses) on that amount can be reallocated to another investment fund within the Plan. Any forfeitures in the Plan are used to offset Employer contributions.
The Employer makes a discretionary annual profit sharing contribution for each eligible employee based on the Corporation's adjusted earnings per share performance from a range of 0% to 8% of eligible earnings. The contribution is deposited into participants' accounts as soon as administratively possible. The contributions related to the 2021 and 2020 targets were 2.3% and 4.6% of eligible earnings for each year and totaled $26.9 million and $53.9 million, respectively, and were deposited into participants' accounts within the first two months of the following year.
Employee contributions receivable as of December 31, 2021 of $5.1 million includes 401(k) contributions receivable of $3.7 million and after-tax, Roth 401(k) and rollover contributions receivable, collectively, of $1.4 million. The employee contributions for year ended December 31, 2021 of $142.2 million includes 401(k) contributions of $93.4 million and after-tax, Roth 401(k), and rollover contributions, collectively, of $48.8 million.
Employee contributions receivable as of December 31, 2020 of $5.0 million includes 401(k) contributions receivable of $3.7 million and after-tax, Roth 401(k) and rollover contributions receivable, collectively, of $1.3 million. The employee contributions for year ended December 31, 2020 of $129.5 million includes 401(k) contributions of $91.6 million and after-tax, Roth 401(k), and rollover contributions, collectively, of $37.9 million..
7
Participant Accounts
Individual accounts are maintained for each Plan participant. Each participant's account is credited with the employee's contributions, the Employer matching contributions, profit sharing contributions, and Plan earnings and losses, less expenses.
Investments
All investment elections are held by the Trustee and employee contributions allocated to a specific fund are commingled with those of other participants and are invested in accordance with the nature of the specific fund. Pending such investment, the Trustee is authorized to invest in short-term securities of the United States of America or in other investments of a short-term nature. Employees can elect to have their contributions in any of the 19 fund options available. The fund options consist of Kimberly-Clark Corporation Stock Fund ("K-C Stock Fund"), two different collective funds offered by Columbia Management (formerly Ameriprise), which are the Money Market and Stable Income Fund, and 16 collective funds offered by BlackRock which include the Russell 1000 Value Index Fund F, Russell 2000 Index Fund F, Russell 1000 Growth Index Fund F, U.S. Debt Index Fund F, Russell 1000 Index Fund F, MSCI ACWI ex-U.S. IMI Index Fund F, and 10 LifePath Index Fund F funds which are the Retirement Fund, 2025 Fund, 2030 Fund, 2035 Fund, 2040 Fund, 2045 Fund, 2050 Fund, 2055 Fund, 2060 Fund, and 2065 Fund. The participant can also choose from a broad range of funds and certain other investments offered through a brokerage account.
Vesting
Employees are immediately vested in their 401(k), after-tax, Roth 401(k), and rollover contributions as well as Employer matching contributions and profit sharing contributions.
Participant Loans
Participants may borrow from their fund accounts a minimum of $1 thousand up to a maximum of 50% or $50 thousand of their vested account balance, whichever is less. The loans are secured by the balance in the participant's account and bear interest at the prime +1 % interest rate as published in the Wall Street Journal on the 15th of the month prior to the first day of the month to which it applies. Principal and interest is paid ratably through payroll deductions. A participant may have only one outstanding loan. A loan processing fee of $50 is charged to the participant. A loan may be a general purpose loan which must be repaid within a maximum of four years, or a primary residence loan, which must be repaid within a maximum of 10 years.
Distributions
Upon termination of a participant's employment, or because of death, the value of the participant's accounts, including the value of all Employer matching and profit sharing contributions, is distributable in either a lump sum, partial amount or systematic withdrawal per the participant's request. An automatic distribution will occur within 90 days if the participant's balance is $5 thousand or less. If the balance is $1 thousand or less, the distribution will be in the form of cash. If the balance is $5 thousand or less but more than $1 thousand, the balance will automatically be rolled over into an Individual Retirement Account ("IRA") with Fidelity.
A participant invested in the K-C Stock Fund earns dividends quarterly and has the option to reinvest the dividends earned into the fund or receive a distribution. Dividends distributed to participants during the years ended December 31, 2021 and 2020 were $1.8 million and $1.9 million, respectively, and are included in benefits paid to participants on the Statements of Changes in Net Assets Available for Benefits.
Withdrawals
An employee may withdraw the value of their after-tax accounts and Employer matching contributions after being in the Plan for 24 months. Subject to certain conditions, a participant may withdraw the value of 401(k) contributions, Roth 401(k) contributions, Employer matching contributions, profit sharing, and earnings credited in the case of hardship or after attaining age 59½.
K-C Stock Fund
A participant has the right to direct the Trustee as to the manner in which to vote at each annual meeting and special meeting of the stockholders of the Corporation the number of whole shares of the Corporation's common stock held by the Trustee and attributable to his or her K-C Stock Fund account as of the valuation date coincident with the record date for the meeting. In addition, the participant has the right to determine whether whole shares of the Corporation's common stock held by the Trustee and attributable to his or her K-C Stock Fund account should be tendered in response to offers thereof.
The K-C Stock Fund is allocated to participants using a unit value, which is calculated using the stock's year end market price plus cash held in a collective short term investment fund.
8
Note 2. Accounting Principles and Practices
Basis of Accounting
The accompanying financial statements for the Plan have been prepared on the accrual basis and are in accordance with the accounting principles generally accepted in the United States of America ("U.S. GAAP") for defined contribution benefit plans. The significant accounting policies employed in the preparation of the accompanying financial statements are described below.
Use of Estimates
The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts of net assets available for benefits and changes therein. Actual results could differ from those estimates.
Investment Valuation and Income Recognition
All investments are stated at fair value. The Plan primarily invests in collective funds that have underlying investments and the fair value is determined by the Plan's proportionate share of the underlying investments and is estimated using the net asset value (the "NAV") per share. The fair value of the Corporation's common stock held by the Plan is determined as the last selling price on the last business day of the year, as published by an independent source. Security transactions are recorded on the trade date. Cash equivalents include a collective short term investment fund for pending transactions which is recorded at fair value using the NAV per share as well as certificates of deposit and other interest bearing investments that are recorded at cost, which approximates fair value. Interest income is recorded on the accrual basis. Dividends are recorded on the ex-dividend date. Net appreciation (depreciation) includes the Plan's gains and losses on investments bought and sold as well as held during the year.
Notes Receivable from Participants
Notes receivable from participant loans are valued at their unpaid principal balance plus any accrued but unpaid interest. Interest income is recorded on the accrual basis. No allowance for credit losses has been recorded as of December 31, 2021 and 2020.
Administrative Expenses
Administrative expenses of the Plan are paid by the Plan as provided in the Plan document.
Benefits Paid to Participants
Distributions are recorded when paid. Amounts allocated to accounts of participants who have elected to withdraw from the Plan, but have not yet been paid, were insignificant at December 31, 2021 and 2020.
Transfers to (from) the Plan
For the years ended December 31, 2021 and 2020, there were no transfers to or from the Plan.
Note 3. Fair Value Measurements
The following fair value information is based on a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The three levels in the hierarchy used to measure fair value are:
Level 1 – Unadjusted quoted prices in active markets accessible at the reporting date for identical assets and liabilities.
Level 2 – Quoted prices for similar assets or liabilities in active markets. Quoted prices for identical or similar assets and liabilities in markets that are not considered active or financial instruments for which all significant inputs are observable, either directly or indirectly.
Level 3 – Prices or valuations that require inputs that are significant to the valuation and are unobservable.
9
A financial instrument's level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement.
The following tables set forth by level, within the fair value hierarchy, a summary of the Plan's investments measured at fair value as of December 31, 2021 and 2020. As of December 31, 2021 and 2020, approximately 87% and 87% of the assets, respectively, are held in collective funds and are measured using a NAV. Accordingly, such assets do not meet the Level 1, Level 2 or Level 3 criteria of the fair value hierarchy.
December 31 2021
Fair Value Measurements
Level 1
Level 2
NAV
(Thousands of dollars)
Cash equivalents
$
73,684
$
64,705
$
—
$
8,979
Kimberly-Clark Corporation stock
204,742
204,742
—
—
SDBA
333,302
333,052
250
—
Common collective trusts
4,210,874
—
—
4,210,874
Total Investments at Fair Value
$
4,822,602
$
602,499
$
250
$
4,219,853
December 31 2020
Fair Value Measurements
Level 1
Level 2
NAV
(Thousands of dollars)
Cash equivalents
$
71,636
$
59,681
$
—
$
11,955
Kimberly-Clark Corporation stock
221,937
221,937
—
—
SDBA
285,439
284,997
442
—
Common collective trusts
3,784,950
—
—
3,784,950
Total Investments at Fair Value
$
4,363,962
$
566,615
$
442
$
3,796,905
As of December 31, 2021 and 2020, there were no assets with a Level 3 fair value determination. The availability of observable market data is monitored to assess the appropriate classification of financial instruments within the fair value hierarchy. Changes in economic conditions or model-based valuation techniques may require the transfer of financial instruments from one fair value level to another. The Plan's policy is to recognize significant transfers between levels at the end of the year. The significance of transfers between levels is evaluated based upon the nature of the financial instrument and size of the transfer relative to total net assets available for benefits. During the years ended December 31, 2021 and 2020, there were no significant transfers between level 1 or 2 fair value determinations.
The following is a description of the valuation methodologies used for the Plan's investments measured at fair value. There have been no changes in the methodologies used at December 31, 2021 and 2020.
Cash equivalents: The cash equivalents includes cash liquidity held in the SDBA. The valuation of the cash equivalents is classified as level 2 due to the cash being held in money market funds or short-term cash that has movement between funds out of the Plan. Cash equivalents also includes cash associated with the K-C Stock Fund and the clearing account which are invested in a collective short term investment fund. The fair value of the collective short term investment fund is based on NAV as a practical expedient.
Kimberly-Clark Corporation stock: The K-C Stock Fund investments are held directly by the Plan. The fair value of the Corporation's common stock is determined based on the closing unadjusted quoted price as of the end of the year.
SDBA: The account consists primarily of mutual funds and common stocks that are valued on the basis of readily determinable market prices.
Collective funds: Composed of a money market fund, stable income fund, fixed income fund, equity funds and multi-asset class funds. The fair value of each fund is determined by multiplying the net asset value per unit by the number of units held by the Plan. The net asset value is based on the values of the underlying securities and cash held in the fund.
10
Note 4. NAV Per Share
The following table for December 31, 2021 and 2020, sets forth a summary of the Plan's investments with a reported NAV.
Fair Value Estimated Using NAV per Share
Investment
December 31 2021 Fair Value (a)
December 31 2020 Fair Value (a)
Unfunded Commitment
Redemption Frequency
Other Redemption Restrictions
Redemption Notice Period
(Thousands of dollars)
Short-term investment funds (b)
$
8,979
$
11,955
$
—
Daily
None
Daily
Fixed income funds (c)
865,864
888,615
—
Daily
None
Daily
Multi-asset class funds (d)
615,515
515,738
—
Daily
None
Daily
Equity index funds (e)
2,729,495
2,380,597
—
Daily
None
Daily
(a) The fair values of the investments have been estimated using the NAV of the investment.
(b) Short-term investment fund strategies seek to invest in high-quality, short-term securities which is included in cash and cash equivalents.
(c) The fixed income fund strategy seeks to replicate the Barclays Bloomberg U.S. Aggregate Bond Index or provide capital preservation and income.
(d) Multi-asset class funds are target date funds that seek to provide a diversified asset allocation consistent with the participants' current stage of life.
(e) Equity index fund strategies seek to replicate the return of an index of a specific financial market, such as the Russell 1000 Index or Russell 2000 Index.
Note 5. Party-In-Interest Transactions
At December 31, 2021, the Plan held 1.4 million shares of the Corporation's common stock at a fair value of $205 million. During the year ended December 31, 2021, 0.7 million shares were acquired and 0.9 million shares were sold. At December 31, 2020, the Plan held 1.6 million shares of the Corporation's common stock at a fair value of $222 million. During the year ended December 31, 2020, 0.9 million shares were acquired and 0.9 million shares were sold. All of these transactions are exempt from the prohibitions against party-in-interest transactions under ERISA.
Note 6. Plan Termination
Although it has not expressed any intention to do so, the Corporation has the right under the Plan to discontinue its contributions at any time and to terminate the Plan subject to the provisions set forth in ERISA.
Note 7. Federal Income Tax Status
The Internal Revenue Service ("IRS") has determined and informed the Corporation in a letter dated October 18, 2017, that the Plan and the related trust were designed in accordance with the applicable requirements of the Code. The Plan satisfies the requirement of Section 401(a) of the Code and Plan management is not aware of any Plan provision that would result in disqualification. The federal income tax status of participants with respect to the Plan is as follows: A participant's after-tax and Roth contributions, in whatever form, are not tax-deductible by the participant; however, the portion of a distribution attributable to such contributions is not taxable upon distribution. Participant pre-tax 401(k) contributions are considered contributions by the Employer rather than the participant and, as a result, are not taxable until the year in which they are distributed. Employer contributions and the earnings on employer and participant contributions are generally not taxable to the participant until the year in which they are distributed.
U.S. GAAP requires plan management to evaluate tax positions taken by the Plan and recognize a tax liability (or asset) if the Plan has taken an uncertain position that more likely than not would not be sustained upon examination by the IRS. The Plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress.
11
Note 8. Changes to the Plan
During the year ended December 31, 2021, the Plan was amended to: (1) add Kimberly-Clark USA, LLC as a Participating Employer, effective January 1, 2022; (2) default any deemed pre-tax contributions, rollover contributions, and Profit Sharing contributions into the applicable Target Date Fund closest to the date the Participant would turn age 65 for Participants who are newly enrolled in the 401(k) and PSP and have not made an investment election on or after January 1, 2022; and (3) provide that if a Participant's change in investment directive or election for redistribution of investments is inadvertently overlooked and discovery of oversight is made within thirty (30) days after the date the Participant receives his next quarterly statement, the change or redistribution will be made as soon as administratively feasible, effective January 1, 2022.
During the year ended December 31, 2020, the Plan was amended to: (1) change the required distribution age from 70.5 to 72 for any participant who attains age 70.5 after December 31, 2019, effective January 1, 2020; (2) remove Fullerton Mill as a Participating Employer in connection with the closing of the mill, effective June 30, 2020; (3) increase the cap on payroll contributions for participants who were automatically enrolled from 10% to 15%, effective January 1, 2021; and (4) remove the Plan limits for Employee Contributions for a Plan Year, effective January 1, 2021.
Note 9. Reconciliation of Financial Statements to Form 5500
Benefit payments requested by participants are recorded on the Form 5500 for benefit payments that have been processed and approved for payment prior to year end, but not yet paid as of that date.
The following is a reconciliation of benefits paid to Plan participants per the financial statements for the year ended December 31, 2021, to Form 5500:
December 31, 2021
(Thousands of dollars)
Benefits paid to participants per the financial statements
$
404,700
Add: Benefit payments requested by participants at December 31, 2021
28
Less: Benefit payments requested by participants at December 31, 2020
(90)
Benefits paid to participants for Form 5500
$
404,638
The following is a reconciliation of net assets available for benefits per the financial statements at December 31, 2021 and 2020 to Form 5500:
December 31
2021
2020
(Thousands of dollars)
Net assets available for benefits per the financial statements
$
4,891,665
$
4,459,696
Less: Deemed distributions from outstanding participant loans with no repayment
(765)
(643)
Less: Benefit payments requested by participants
(28)
(90)
Net assets available for benefits per Form 5500
$
4,890,872
$
4,458,963
The following is a reconciliation of expenses per the financial statements for the year ended December 31, 2021 to Form 5500:
December 31, 2021
(Thousands of dollars)
Total deductions per the financial statements
$
406,493
Add: Deemed distribution on outstanding participant loans at December 31, 2021
765
Less: Deemed distribution on outstanding participant loans at December 31, 2020
(643)
Add: Benefit payments requested by participants at December 31, 2021
28
Less: Benefit payments requested by participants at December 31, 2020
(90)
Total expense per Form 5500
$
406,553
12
Note 10. Risks and Uncertainties
Plan assets are invested in funds and securities as directed by Plan participants. These investment securities, in general, are exposed to various risks, such as interest rate, credit, and overall market volatility. Accordingly, it is reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect the amounts reported in the Statements of Net Assets Available for Benefits.
Note 11. Subsequent Events
The Plan has evaluated subsequent events through June 28, 2022, the date the financial statements were available to be issued, and there are none to report.
13
SUPPLEMENTAL INFORMATION REQUIRED
BY THE DEPARTMENT OF LABOR'S RULES AND REGULATIONS FOR
REPORTING AND DISCLOSURE UNDER THE
EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974
14
KIMBERLY-CLARK CORPORATION
401(K) AND PROFIT SHARING PLAN
SCHEDULE H, PART IV, 4i
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
SPONSOR'S EIN: 39-0394230
PLAN NAME/NUMBER: Kimberly-Clark Corporation 401(K) and Profit Sharing Plan / 016
December 31, 2021
Identity of Investment Issuer
Description of Investment
Fair Value
(Thousands of dollars)
The Northern Trust (1)
Collective Fund:
Collective Government Short Term Investment Fund
$
8,979
8,979
Columbia Management
Collective Funds:
CT Money Market Fund Z
117,638
CT Stable Government Fund Z
78,088
CT Stable Income Fund Z
207,246
402,972
BlackRock
Collective Funds:
U.S. Debt Index Fund F
462,892
Russell 1000 Index Fund F
687,080
Russell 1000 Value Index Fund F
450,971
Russell 1000 Growth Index Fund F
748,505
Russell 2000 Index Fund F
275,172
MSCI ACWI ex-U.S. IMI Index Fund F
567,767
LifePath Index Target Conservative Fund F
86,470
LifePath Index 2025 Fund F
120,052
LifePath Index 2030 Fund F
53,939
LifePath Index 2035 Fund F
129,442
LifePath Index 2040 Fund F
45,005
LifePath Index 2045 Fund F
95,937
LifePath Index 2050 Fund F
33,662
LifePath Index 2055 Fund F
34,827
LifePath Index 2060 Fund F
12,368
LifePath Index 2065 Fund F
3,813
3,807,902
K-C (1)
Kimberly-Clark Corporation Common Stock
204,742
Fidelity (1)
SDBA
398,007
The Northern Trust (1)
Notes receivable from participants rate of interest (4.00% - 7.00%) maturity dates (January 2022 - December 2031)
32,087
Total Investments
$
4,854,689
(1) Sponsor and/or issuer known to be a party-in-interest to the Plan.
Cost is not presented as all investments are participant directed.
See accompanying report of independent registered public accounting firm.
