Solid market shares in North American tissue and global diapers, incontinence care, and feminine care. High brand equity for certain of the company's tissue and personal care products. Nondiscretionary demand for most of the company's products. Expectation for continued sustainable cost reductions. Good geographic diversification. All segments compete against other large global consumer product companies while the lower-growth tissue segment also competes against private label companies. Exposure to input cost volatility, particularly pulp and oil-based materials. Strong, consistent free cash flow. Substantial amount of dividends and share buybacks. The outlook is stable, reflecting Standard&Poor's Ratings Services' forecast for steady profitability, largely owing to consistent consumer demand, the solid market share and high brand equity of many of Kimberly-Clark
