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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Arial, sans-serif;">UNITED
      STATES</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Arial, sans-serif;">SECURITIES
      AND EXCHANGE COMMISSION</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Arial, sans-serif;">Washington,
      D.C.&#160;&#160;20549</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Arial, sans-serif;">FORM
      8-K</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="center"><font id="TAB1" style="MARGIN-LEFT: 216pt;"></font><br></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Arial, sans-serif;">CURRENT
      REPORT</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Arial, sans-serif;">Pursuant
      to Section 13 or 15(d) of the Securities Exchange Act of 1934</font></div>
    <div><br></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Arial, sans-serif;"><strong>Date
      of Report: July 23, 2007</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Arial, sans-serif;">(Date
      of earliest event reported)</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Arial, sans-serif;"><strong>KIMBERLY-CLARK
      CORPORATION</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Arial, sans-serif;">(Exact
      name of registrant as specified in its charter)</font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: arial, sans-serif;"><strong>Delaware</strong></font></div>
            </td>
            <td valign="top" width="20%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: arial, sans-serif;"><strong>1-225</strong></font></div>
            </td>
            <td valign="top" width="21%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: arial, sans-serif;"><strong>39-0394230</strong></font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="25%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            <td valign="top" width="20%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            <td valign="top" width="21%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: arial, sans-serif;">(State
                or other jurisdiction</font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: arial, sans-serif;">(Commission
                File</font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: arial, sans-serif;">(IRS
                Employer</font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: arial, sans-serif;">of
                incorporation)</font></div>
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            <td valign="top" width="20%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: arial, sans-serif;">Number)</font></div>
            </td>
            <td valign="top" width="21%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: arial, sans-serif;">Identification
                No.)</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="25%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            <td valign="top" width="20%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            <td valign="top" width="21%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: arial, sans-serif;"><strong>P.O.
                Box 619100, Dallas, Texas</strong></font></div>
            </td>
            <td valign="top" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: arial, sans-serif;"><strong>&#160;&#160;&#160;
                75261-9100</strong></font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: arial, sans-serif;">(Address
                of principal executive offices)</font></div>
            </td>
            <td valign="top" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: arial, sans-serif;">&#160;&#160;&#160;
                (Zip Code)</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Arial, sans-serif;"><strong>(972)
      281-1200</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Arial, sans-serif;">(Registrant&#8217;s
      telephone number, including area code)</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="center"><font id="TAB1" style="MARGIN-LEFT: 220.5pt;"></font><br></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Arial, sans-serif;">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:</font></div>
    <div><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

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            <td valign="top" width="5%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: arial, sans-serif;">[&#160;&#160;]</font></div>
            </td>
            <td align="left" valign="top" width="75%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: arial, sans-serif;">Written
                communications pursuant to Rule 425 under the Securities Act (17
                CFR
                230.425)</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="5%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: arial, sans-serif;">[&#160;&#160;]</font></div>
            </td>
            <td align="left" valign="top" width="75%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: arial, sans-serif;">Soliciting
                material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
                240.14a-12)</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="5%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: arial, sans-serif;">[&#160;&#160;]</font></div>
            </td>
            <td align="left" valign="top" width="75%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: arial, sans-serif;">Pre-commencement
                communications pursuant to Rule 14d-2(b) under the Exchange Act (17
                CFR
                240.14d-2(b))</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="5%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: arial, sans-serif;">[&#160;&#160;]</font></div>
            </td>
            <td align="left" valign="top" width="75%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: arial, sans-serif;">Pre-commencement
                communications pursuant to Rule 13e-4(c) under the Exchange Act (17
                CFR
                240.13e-4(c))</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="center"><font id="TAB1" style="MARGIN-LEFT: 216pt;"></font><br></div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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        <div style="WIDTH: 100%; TEXT-ALIGN: center">
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    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Arial, sans-serif;">Item
      2.02.&#160;&#160;Results of Operations and Financial Condition.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Arial, sans-serif;">Attached
      and incorporated herein by reference as Exhibit 99.1 is a copy of the press
      release of&#160;Kimberly-Clark Corporation (the &#8220;Corporation&#8221;), dated July 24,
      2007, reporting the Corporation&#8217;s results of operations for the quarter ended
      June 30, 2007.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Arial, sans-serif;">The
      information, including exhibits attached hereto, in Item 2.02 of this Current
      Report is being furnished and shall not be deemed &#8220;filed&#8221; for the purposes of
      Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise
      subject to the liabilities of that Section. The information in Item 2.02 of
      this
      Current Report shall not be incorporated by reference into any registration
      statement or other document pursuant to the Securities Act of 1933, as amended,
      except as otherwise expressly stated in such filing.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Arial, sans-serif;">Item
      2.03.&#160;&#160;Creation of a Direct Financial Obligation or an Obligation
      under an Off-Balance</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Arial, sans-serif;">Sheet
      Arrangement of a Registrant.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Arial, sans-serif;">On
      July
      23, 2007, the Corporation entered into a short-term Revolving Credit Agreement
      with Citibank, N.A., as Administrative Agent, and certain other banks party
      thereto (the "Short-Term Facility").&#160;The Corporation has informed the
      Administrative Agent that it intends to borrow $2&#160;billion under the
      Short-Term Facility on July 27, 2007 to fund the settlement of the accelerated
      share repurchase agreement discussed in Item 8.01 below.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Arial, sans-serif;">The
      loan under the Short-Term Facility will be unsecured and have an interest rate
      based on the Eurodollar, federal funds or prime rate at the time of the
      borrowing, plus a spread based on the Corporation&#8217;s credit rating.&#160;The
      Corporation may make optional prepayments under the Short-Term Facility without
      premium or penalty. It is the Corporation&#8217;s intention to fully refinance the
      Short-Term Facility with long-term debt in the near future, depending on market
      conditions.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Arial, sans-serif;">Item
      8.01. Other Events.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Arial, sans-serif;">On
      July
      24, 2007, the Corporation announced that it entered into an accelerated share
      repurchase agreement (the &#8220;ASR Agreement&#8221;) through which it will purchase $2
      billion of outstanding shares of its common stock. Under the ASR Agreement,
      the
      Corporation will purchase&#160;approximately 29.6 million shares of common stock
      from Bank of America, N.A. (&#8220;Bank of America") at an initial purchase price of
      $67.48 per share.&#160;&#160;These repurchased shares will be classified as
      treasury shares.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Arial, sans-serif;">Bank
      of
      America is expected to repurchase an equivalent number of shares in the open
      market during the period from July 26, 2007 to June 20, 2008 (the &#8220;Repurchase
      Period&#8221;).&#160;&#160;The ASR Agreement also includes a provision that would
      allow Bank of America, at its discretion, to accelerate the program so that
      the
      Repurchase Period may end as early as March 10, 2008.&#160;&#160;The initial
      purchase price per share is subject to an adjustment based on the volume
      weighted average price per share of the Corporation's shares of common stock
      during the Repurchase Period.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Arial, sans-serif;">In
      connection with the ASR Agreement, the Corporation&#8217;s Board of Directors also
      authorized&#160;a new share repurchase program pursuant to which the Corporation
      is authorized to repurchase 50 million shares of the Corporation&#8217;s common stock
      in the</font></div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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        <div style="WIDTH: 100%; TEXT-ALIGN: center">
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        </div>
      </div>
      <div id="HDR">
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        </div>
      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Arial, sans-serif;">open
      market (in addition to approximately 28&#160;million shares remaining available
      under the Corporation&#8217;s prior share repurchase
      authorization).&#160;&#160;Accordingly, after execution of the ASR Agreement,
      the Corporation will have authorization remaining to repurchase approximately
      48
      million additional shares. Subject to regulatory conditions, the Corporation
      intends to continue its ongoing share repurchase program in the open market
      during the Repurchase Period.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Arial, sans-serif;">Attached
      and incorporated herein by reference as Exhibit 99.1&#160;is a copy of the press
      release of&#160;the Corporation, dated July 24, 2007, providing additional
      information regarding the Corporation&#8217;s share repurchase programs.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Arial, sans-serif;">This
      Current Report does not constitute an offer of any securities for
      sale.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.3pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Arial, sans-serif;">Item
      9.01.&#160;&#160;Financial Statements and Exhibits.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Arial, sans-serif;">(d)
      Exhibits.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Arial, sans-serif;">Exhibit
      99.1&#160;&#160;Press release issued by Kimberly-Clark Corporation on July 24,
      2007.</font></div>
    <div><br></div><br>
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    </div><br>
    <div><br></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Arial, sans-serif;"><u>SIGNATURE</u></font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Arial, sans-serif;">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.</font></div>
    <div><br></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 378pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Arial, sans-serif;">KIMBERLY-CLARK
      CORPORATION</font></div>
    <div><br></div>
    <div><br></div>
    <div><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="top" width="38%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: arial, sans-serif;">Date:&#160;&#160;July
                24, 2007</font></div>
            </td>
            <td align="left" valign="top" width="36%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: arial, sans-serif;">By:&#160;&#160;<u>/s/
                Mark A.
                Buthman&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                </u></font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="38%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            <td align="left" valign="top" width="36%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: arial, sans-serif;"><font id="TAB1" style="MARGIN-LEFT: 21.6pt;"></font>Mark
                A.
                Buthman</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="38%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            <td align="left" valign="top" width="36%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: arial, sans-serif;"><font id="TAB1" style="MARGIN-LEFT: 21.6pt;"></font>Senior
                Vice President
                and</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="38%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            <td align="left" valign="top" width="36%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: arial, sans-serif;"><font id="TAB1" style="MARGIN-LEFT: 21.6pt;"></font>Chief
                Financial
                Officer</font></div>
            </td>
          </tr>

      </table>
    </div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Arial, sans-serif;"><u>EXHIBIT
      INDEX</u></font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Arial, sans-serif;">99.1&#160;&#160;&#160;&#160;&#160;Press
      release issued by Kimberly-Clark Corporation on July 24, 2007.</font></div>
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kc_8k-2q07.htm
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: July 23, 2007
(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
(Commission
                File
(IRS
                Employer
of
                incorporation)
Number)
Identification
                No.)
P.O.
                Box 619100, Dallas, Texas
75261-9100
(Address
                of principal executive offices)
(Zip Code)
(972)
      281-1200
(Registrant's
      telephone number, including area code)
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))
Item
      2.02.  Results of Operations and Financial Condition.
Attached
      and incorporated herein by reference as Exhibit 99.1 is a copy of the press
      release of Kimberly-Clark Corporation (the "Corporation"), dated July 24,
      2007, reporting the Corporation's results of operations for the quarter ended
      June 30, 2007.
The
      information, including exhibits attached hereto, in Item 2.02 of this Current
      Report is being furnished and shall not be deemed "filed" for the purposes of
      Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise
      subject to the liabilities of that Section. The information in Item 2.02 of
      this
      Current Report shall not be incorporated by reference into any registration
      statement or other document pursuant to the Securities Act of 1933, as amended,
      except as otherwise expressly stated in such filing.
Item
      2.03.  Creation of a Direct Financial Obligation or an Obligation
      under an Off-Balance
Sheet
      Arrangement of a Registrant.
On
      July
      23, 2007, the Corporation entered into a short-term Revolving Credit Agreement
      with Citibank, N.A., as Administrative Agent, and certain other banks party
      thereto (the "Short-Term Facility"). The Corporation has informed the
      Administrative Agent that it intends to borrow $2 billion under the
      Short-Term Facility on July 27, 2007 to fund the settlement of the accelerated
      share repurchase agreement discussed in Item 8.01 below.
The
      loan under the Short-Term Facility will be unsecured and have an interest rate
      based on the Eurodollar, federal funds or prime rate at the time of the
      borrowing, plus a spread based on the Corporation's credit rating. The
      Corporation may make optional prepayments under the Short-Term Facility without
      premium or penalty. It is the Corporation's intention to fully refinance the
      Short-Term Facility with long-term debt in the near future, depending on market
      conditions.
Item
      8.01. Other Events.
On
      July
      24, 2007, the Corporation announced that it entered into an accelerated share
      repurchase agreement (the "ASR Agreement") through which it will purchase $2
      billion of outstanding shares of its common stock. Under the ASR Agreement,
      the
      Corporation will purchase approximately 29.6 million shares of common stock
      from Bank of America, N.A. ("Bank of America") at an initial purchase price of
      $67.48 per share.  These repurchased shares will be classified as
      treasury shares.
Bank
      of
      America is expected to repurchase an equivalent number of shares in the open
      market during the period from July 26, 2007 to June 20, 2008 (the "Repurchase
      Period").  The ASR Agreement also includes a provision that would
      allow Bank of America, at its discretion, to accelerate the program so that
      the
      Repurchase Period may end as early as March 10, 2008.  The initial
      purchase price per share is subject to an adjustment based on the volume
      weighted average price per share of the Corporation's shares of common stock
      during the Repurchase Period.
In
      connection with the ASR Agreement, the Corporation's Board of Directors also
      authorized a new share repurchase program pursuant to which the Corporation
      is authorized to repurchase 50 million shares of the Corporation's common stock
      in the
open
      market (in addition to approximately 28 million shares remaining available
      under the Corporation's prior share repurchase
      authorization).  Accordingly, after execution of the ASR Agreement,
      the Corporation will have authorization remaining to repurchase approximately
      48
      million additional shares. Subject to regulatory conditions, the Corporation
      intends to continue its ongoing share repurchase program in the open market
      during the Repurchase Period.
Attached
      and incorporated herein by reference as Exhibit 99.1 is a copy of the press
      release of the Corporation, dated July 24, 2007, providing additional
      information regarding the Corporation's share repurchase programs.
This
      Current Report does not constitute an offer of any securities for
      sale.
Item
      9.01.  Financial Statements and Exhibits.
(d)
      Exhibits.
Exhibit
      99.1  Press release issued by Kimberly-Clark Corporation on July 24,
      2007.
SIGNATURE
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
Date:  July
                24, 2007
By:
/s/
                Mark A.
                Buthman
Mark
                A.
                Buthman
Senior
                Vice President
                and
Chief
                Financial
                Officer
EXHIBIT
      INDEX
99.1     Press
      release issued by Kimberly-Clark Corporation on July 24, 2007.