Overview High brand equity and solid market shares in North American tissue and global diapers, incontinence care, and feminine care. Tough competition from large global consumer product companies across all segments and from private label rivals in tissue. Strong, consistent free operating cash flow given the nondiscretionary nature of demand for most of the company's products. Exposed to currency and input cost volatility, particularly pulp and oil-based materials. Track record of achieving ongoing productivity improvements. Substantially all free operating cash flow is used for dividends and share buybacks. Consistent financial policy that demonstrates a commitment to maintaining the rating. The company increased its 2021 input cost inflation estimate to $1.4 billion-$1.5 billion (from $1.2 billion-$1.3 billion three months ago and
