2020 Q1 Form 10-Q Financial Statement

#000163745920000061 Filed on May 01, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 Q1
Revenue $6.157B $5.959B
YoY Change 3.32% -5.47%
Cost Of Revenue $4.299B $3.948B
YoY Change 8.89% -2.28%
Gross Profit $1.858B $2.011B
YoY Change -7.61% -11.17%
Gross Profit Margin 30.18% 33.75%
Selling, General & Admin $1.088B $1.449B
YoY Change -24.91% 89.66%
% of Gross Profit 58.56% 72.05%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $243.0M $239.0M
YoY Change 1.67% 5.29%
% of Gross Profit 13.08% 11.88%
Operating Expenses $1.088B $1.449B
YoY Change -24.91% 89.66%
Operating Profit $770.0M $562.0M
YoY Change 37.01% -62.53%
Interest Expense $310.0M $321.0M
YoY Change -3.43% 1.26%
% of Operating Profit 40.26% 57.12%
Other Income/Expense, Net $81.00M $380.0M
YoY Change -78.68% 322.22%
Pretax Income $541.0M $621.0M
YoY Change -12.88% -51.22%
Income Tax $160.0M $217.0M
% Of Pretax Income 29.57% 34.94%
Net Earnings $378.0M $405.0M
YoY Change -6.67% -59.62%
Net Earnings / Revenue 6.14% 6.8%
Basic Earnings Per Share $0.31 $0.33
Diluted Earnings Per Share $0.31 $0.33
COMMON SHARES
Basic Shares Outstanding 1.222B shares 1.220B shares
Diluted Shares Outstanding 1.224B shares 1.224B shares

Balance Sheet

Concept 2020 Q1 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.403B $1.096B
YoY Change 392.97% -38.91%
Cash & Equivalents $5.403B $1.096B
Short-Term Investments
Other Short-Term Assets $535.0M $1.116B
YoY Change -52.06% 161.97%
Inventory $2.831B $3.118B
Prepaid Expenses $485.0M $384.0M
Receivables $2.321B $2.010B
Other Receivables $0.00 $85.00M
Total Short-Term Assets $11.71B $8.835B
YoY Change 32.52% 19.86%
LONG-TERM ASSETS
Property, Plant & Equipment $6.813B $7.031B
YoY Change -3.1% -1.6%
Goodwill $35.06B $36.09B
YoY Change -2.85% -19.52%
Intangibles $48.26B $49.55B
YoY Change -2.61% -16.83%
Long-Term Investments
YoY Change
Other Assets $2.231B $2.052B
YoY Change 8.72% 25.12%
Total Long-Term Assets $92.37B $94.73B
YoY Change -2.49% -16.33%
TOTAL ASSETS
Total Short-Term Assets $11.71B $8.835B
Total Long-Term Assets $92.37B $94.73B
Total Assets $104.1B $103.6B
YoY Change 0.49% -14.12%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.956B $4.184B
YoY Change -5.45% -1.34%
Accrued Expenses $1.055B $1.063B
YoY Change -0.75% 16.56%
Deferred Revenue
YoY Change
Short-Term Debt $6.000M $2.000M
YoY Change 200.0% -99.8%
Long-Term Debt Due $1.242B $1.305B
YoY Change -4.83% -52.41%
Total Short-Term Liabilities $7.934B $7.972B
YoY Change -0.48% -22.5%
LONG-TERM LIABILITIES
Long-Term Debt $31.53B $29.80B
YoY Change 5.8% 4.35%
Other Long-Term Liabilities $1.395B $1.483B
YoY Change -5.93% 44.97%
Total Long-Term Liabilities $1.395B $1.483B
YoY Change -5.93% 44.97%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.934B $7.972B
Total Long-Term Liabilities $1.395B $1.483B
Total Liabilities $52.95B $51.73B
YoY Change 2.36% -4.71%
SHAREHOLDERS EQUITY
Retained Earnings -$2.686B -$4.586B
YoY Change -41.43% -153.12%
Common Stock $12.00M $12.00M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $269.0M $291.0M
YoY Change -7.56% 21.25%
Treasury Stock Shares
Shareholders Equity $51.01B $51.70B
YoY Change
Total Liabilities & Shareholders Equity $104.1B $103.6B
YoY Change 0.49% -14.12%

Cashflow Statement

Concept 2020 Q1 2019 Q1
OPERATING ACTIVITIES
Net Income $378.0M $405.0M
YoY Change -6.67% -59.62%
Depreciation, Depletion And Amortization $243.0M $239.0M
YoY Change 1.67% 5.29%
Cash From Operating Activities $212.0M $304.0M
YoY Change -30.26% -25.49%
INVESTING ACTIVITIES
Capital Expenditures $131.0M $249.0M
YoY Change -47.39% 11.66%
Acquisitions $0.00 $200.0M
YoY Change -100.0% -6.98%
Other Investing Activities -$9.000M $14.00M
YoY Change -164.29% -333.33%
Cash From Investing Activities -$122.0M $177.0M
YoY Change -168.93% 4325.0%
FINANCING ACTIVITIES
Cash Dividend Paid $488.0M
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $407.0M $1.000M
YoY Change 40600.0% -83.33%
Cash From Financing Activities $3.105B -$504.0M
YoY Change -716.07% 35.85%
NET CHANGE
Cash From Operating Activities $212.0M $304.0M
Cash From Investing Activities -$122.0M $177.0M
Cash From Financing Activities $3.105B -$504.0M
Net Change In Cash $3.124B -$34.00M
YoY Change -9288.24% -209.68%
FREE CASH FLOW
Cash From Operating Activities $212.0M $304.0M
Capital Expenditures $131.0M $249.0M
Free Cash Flow $81.00M $55.00M
YoY Change 47.27% -70.27%

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CY2019Q1 us-gaap Net Income Loss Including Portion Attributable To Nonredeemable Noncontrolling Interest
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405000000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
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CY2019Q1 us-gaap Common Stock Dividends Per Share Declared
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0.40
CY2019Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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51833000000 USD
CY2019Q1 us-gaap Dividends Common Stock
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488000000 USD
CY2019Q1 us-gaap Cumulative Effect On Retained Earnings Net Of Tax1
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0 USD
CY2019Q1 us-gaap Stockholders Equity Other
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CY2020Q1 us-gaap Profit Loss
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381000000 USD
CY2020Q1 us-gaap Profit Loss
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381000000 USD
CY2020Q1 us-gaap Profit Loss
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381000000 USD
CY2019Q1 us-gaap Profit Loss
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404000000 USD
CY2019Q1 us-gaap Profit Loss
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404000000 USD
CY2019Q1 us-gaap Profit Loss
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404000000 USD
CY2020Q1 us-gaap Depreciation Depletion And Amortization
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243000000 USD
CY2019Q1 us-gaap Depreciation Depletion And Amortization
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239000000 USD
CY2020Q1 us-gaap Defined Benefit Plan Amortization Of Prior Service Cost Credit
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-31000000 USD
CY2019Q1 us-gaap Defined Benefit Plan Amortization Of Prior Service Cost Credit
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CY2020Q1 us-gaap Share Based Compensation
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33000000 USD
CY2019Q1 us-gaap Share Based Compensation
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CY2020Q1 us-gaap Deferred Income Tax Expense Benefit
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-46000000 USD
CY2019Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-67000000 USD
CY2020Q1 us-gaap Pension And Other Postretirement Benefit Contributions
PensionAndOtherPostretirementBenefitContributions
9000000 USD
CY2020Q1 us-gaap Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
226000000 USD
CY2019Q1 us-gaap Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
620000000 USD
CY2019Q1 us-gaap Pension And Other Postretirement Benefit Contributions
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13000000 USD
CY2020Q1 khc Noncashadjustmentnonmonetarycurrencydevaluation
Noncashadjustmentnonmonetarycurrencydevaluation
1000000 USD
CY2019Q1 khc Noncashadjustmentnonmonetarycurrencydevaluation
Noncashadjustmentnonmonetarycurrencydevaluation
4000000 USD
CY2020Q1 us-gaap Gain Loss On Sale Of Business
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-2000000 USD
CY2019Q1 us-gaap Gain Loss On Sale Of Business
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246000000 USD
CY2020Q1 us-gaap Other Operating Activities Cash Flow Statement
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170000000 USD
CY2019Q1 us-gaap Other Operating Activities Cash Flow Statement
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CY2020Q1 us-gaap Increase Decrease In Accounts Receivable
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423000000 USD
CY2019Q1 us-gaap Increase Decrease In Accounts Receivable
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-116000000 USD
CY2020Q1 us-gaap Increase Decrease In Inventories
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226000000 USD
CY2019Q1 us-gaap Increase Decrease In Inventories
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488000000 USD
CY2020Q1 us-gaap Increase Decrease In Accounts Payable
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-2000000 USD
CY2019Q1 us-gaap Increase Decrease In Accounts Payable
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64000000 USD
CY2020Q1 us-gaap Increase Decrease In Other Current Assets
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148000000 USD
CY2019Q1 us-gaap Increase Decrease In Other Current Assets
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-14000000 USD
CY2020Q1 us-gaap Increase Decrease In Other Current Liabilities
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41000000 USD
CY2019Q1 us-gaap Increase Decrease In Other Current Liabilities
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CY2020Q1 us-gaap Net Cash Provided By Used In Operating Activities
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212000000 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Operating Activities
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304000000 USD
CY2020Q1 us-gaap Payments To Acquire Property Plant And Equipment
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131000000 USD
CY2019Q1 us-gaap Payments To Acquire Property Plant And Equipment
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249000000 USD
CY2020Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
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CY2019Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
200000000 USD
CY2020Q1 us-gaap Proceeds From Divestiture Of Businesses Net Of Cash Divested
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0 USD
CY2019Q1 us-gaap Proceeds From Divestiture Of Businesses Net Of Cash Divested
ProceedsFromDivestitureOfBusinessesNetOfCashDivested
640000000 USD
CY2020Q1 us-gaap Payments For Proceeds From Other Investing Activities
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CY2019Q1 us-gaap Payments For Proceeds From Other Investing Activities
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14000000 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Investing Activities
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CY2019Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
177000000 USD
CY2020Q1 us-gaap Repayments Of Long Term Debt
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407000000 USD
CY2019Q1 us-gaap Repayments Of Long Term Debt
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1000000 USD
CY2020Q1 us-gaap Proceeds From Unsecured Lines Of Credit
ProceedsFromUnsecuredLinesOfCredit
4000000000 USD
CY2019Q1 us-gaap Proceeds From Unsecured Lines Of Credit
ProceedsFromUnsecuredLinesOfCredit
0 USD
CY2020Q1 us-gaap Proceeds From Issuance Of Commercial Paper
ProceedsFromIssuanceOfCommercialPaper
0 USD
CY2019Q1 us-gaap Proceeds From Issuance Of Commercial Paper
ProceedsFromIssuanceOfCommercialPaper
377000000 USD
CY2020Q1 us-gaap Repayments Of Commercial Paper
RepaymentsOfCommercialPaper
0 USD
CY2019Q1 us-gaap Repayments Of Commercial Paper
RepaymentsOfCommercialPaper
377000000 USD
CY2020Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
488000000 USD
CY2019Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
488000000 USD
CY2020Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
0 USD
CY2019Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-15000000 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
3105000000 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-504000000 USD
CY2020Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-71000000 USD
CY2019Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-11000000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
3124000000 USD
CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-34000000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2280000000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1136000000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
5404000000 USD
CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1102000000 USD
CY2020Q1 us-gaap Basis Of Accounting
BasisOfAccounting
Basis of Presentation<div style="text-align:justify;margin-top:9pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) have been omitted, in accordance with the rules of the Securities and Exchange Commission (the “SEC”). In management’s opinion, these interim financial statements include all adjustments (consisting only of normal recurring adjustments) and accruals necessary to fairly state our results for the periods presented.</span></div><div style="text-align:justify;margin-top:9pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">The condensed consolidated balance sheet data at December 28, 2019 was derived from audited financial statements, but does not include all disclosures required by U.S. GAAP. These statements should be read in conjunction with our audited consolidated financial statements and related notes in our Annual Report on Form 10-K for the year ended December 28, 2019. The results for interim periods are not necessarily indicative of future or annual results.</span></div><div style="text-align:justify;margin-top:9pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%;">Principles of Consolidation</span></div><div style="text-align:justify;margin-top:9pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">The condensed consolidated financial statements include Kraft Heinz and all of our controlled subsidiaries. All intercompany transactions are eliminated.</span></div><div style="text-align:justify;margin-top:9pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%;">Reportable Segments</span></div><div style="text-align:justify;margin-top:9pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">In the first quarter of our fiscal year 2020, our internal reporting and reportable segments changed. We moved our Puerto Rico business from the Latin America zone to the United States zone to consolidate and streamline the management of our product categories and supply chain. We also combined our Europe, Middle East, and Africa (“EMEA”), Latin America, and Asia Pacific (“APAC”) zones to form the International zone as a result of certain previously announced organizational changes.</span></div><div style="text-align:justify;margin-top:9pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">Therefore, effective in the first quarter of 2020, we manage and report our operating results through three reportable segments defined by geographic region: United States, International, and Canada. We have reflected these changes in all historical periods presented.</span></div><div style="text-align:justify;margin-top:9pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%;">Considerations related to the novel coronavirus (“COVID-19”)</span></div><div style="text-align:justify;margin-top:9pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">In December 2019, an outbreak of illness caused by a novel coronavirus called COVID-19 was identified in Wuhan, China. On January 31, 2020, the United States declared a public health emergency related to the novel coronavirus and on March 11, 2020, the World Health Organization declared that the spread of the novel coronavirus qualified as a global pandemic. In an attempt to minimize transmission of COVID-19, significant social and economic restrictions have been imposed in the United States and abroad. These restrictions, while necessary and important for public health, have negative implications for portions of our business and the U.S. and global economy. In the preparation of these financial statements and related disclosures we have assessed the impact that COVID-19 has had on our estimates, assumptions, forecasts, and accounting policies and made additional disclosures, as necessary. As the COVID-19 situation is unprecedented and ever evolving, future events and effects related to the illness cannot be determined with precision and actual results could significantly differ from estimates or forecasts. </span></div><div style="text-align:justify;margin-top:9pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">See Note 8, </span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;">Goodwill and Intangible Assets</span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">, Note 11, </span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;">Postemployment Benefits</span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">, and Note 16, </span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;">Commitments, Contingencies and Debt</span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">, for further discussion of COVID-19 considerations. </span></div><div style="text-align:justify;margin-top:9pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%;">Use of Estimates</span></div><div style="text-align:justify;margin-top:9pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">We prepare our condensed consolidated financial statements in accordance with U.S. GAAP, which requires us to make accounting policy elections, estimates, and assumptions that affect the reported amount of assets, liabilities, reserves, and expenses. These accounting policy elections, estimates, and assumptions are based on our best estimates and judgments. We evaluate our policy elections, estimates, and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment. We believe these estimates to be reasonable given the current facts available. We adjust our policy elections, estimates, and assumptions when facts and circumstances dictate. Market volatility, including foreign currency exchange rates, increases the uncertainty inherent in our estimates and assumptions. As future events and their effects cannot be determined with precision, actual results could differ significantly from estimates. If actual amounts differ from estimates, we include the revisions in our consolidated results of operations in the period the actual amounts become known. Historically, the aggregate differences, if any, between our estimates and actual amounts in any year have not had a material effect on our condensed consolidated financial statements.</span></div><div style="text-align:justify;margin-top:9pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%;">Reclassifications</span></div><div style="text-align:justify;margin-top:9pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">We made reclassifications to certain previously reported financial information to conform to our current period presentation.</span></div>
CY2020Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3 segment
CY2020Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="text-align:justify;margin-top:9pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%;">Use of Estimates</span></div><div style="text-align:justify;margin-top:9pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">We prepare our condensed consolidated financial statements in accordance with U.S. GAAP, which requires us to make accounting policy elections, estimates, and assumptions that affect the reported amount of assets, liabilities, reserves, and expenses. These accounting policy elections, estimates, and assumptions are based on our best estimates and judgments. We evaluate our policy elections, estimates, and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment. We believe these estimates to be reasonable given the current facts available. We adjust our policy elections, estimates, and assumptions when facts and circumstances dictate. Market volatility, including foreign currency exchange rates, increases the uncertainty inherent in our estimates and assumptions. As future events and their effects cannot be determined with precision, actual results could differ significantly from estimates. If actual amounts differ from estimates, we include the revisions in our consolidated results of operations in the period the actual amounts become known. Historically, the aggregate differences, if any, between our estimates and actual amounts in any year have not had a material effect on our condensed consolidated financial statements.</span></div>
CY2020Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="text-align:justify;margin-top:9pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%;">Reclassifications</span></div><div style="text-align:justify;margin-top:9pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">We made reclassifications to certain previously reported financial information to conform to our current period presentation.</span></div>
CY2020Q1 us-gaap Disposal Group Including Discontinued Operation Cash And Cash Equivalents
DisposalGroupIncludingDiscontinuedOperationCashAndCashEquivalents
26000000 USD
CY2019Q4 us-gaap Disposal Group Including Discontinued Operation Cash And Cash Equivalents
DisposalGroupIncludingDiscontinuedOperationCashAndCashEquivalents
27000000 USD
CY2020Q1 us-gaap Disposal Group Including Discontinued Operation Inventory1
DisposalGroupIncludingDiscontinuedOperationInventory1
28000000 USD
CY2019Q4 us-gaap Disposal Group Including Discontinued Operation Inventory1
DisposalGroupIncludingDiscontinuedOperationInventory1
21000000 USD
CY2020Q1 us-gaap Disposal Group Including Discontinued Operation Property Plant And Equipment
DisposalGroupIncludingDiscontinuedOperationPropertyPlantAndEquipment
33000000 USD
CY2019Q4 us-gaap Disposal Group Including Discontinued Operation Property Plant And Equipment
DisposalGroupIncludingDiscontinuedOperationPropertyPlantAndEquipment
25000000 USD
CY2020Q1 us-gaap Disposal Group Including Discontinued Operation Intangible Assets
DisposalGroupIncludingDiscontinuedOperationIntangibleAssets
21000000 USD
CY2019Q4 us-gaap Disposal Group Including Discontinued Operation Intangible Assets
DisposalGroupIncludingDiscontinuedOperationIntangibleAssets
23000000 USD
CY2020Q1 us-gaap Disposal Group Including Discontinued Operation Other Assets
DisposalGroupIncludingDiscontinuedOperationOtherAssets
25000000 USD
CY2019Q4 us-gaap Disposal Group Including Discontinued Operation Other Assets
DisposalGroupIncludingDiscontinuedOperationOtherAssets
26000000 USD
CY2020Q1 us-gaap Assets Of Disposal Group Including Discontinued Operation Current
AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent
133000000 USD
CY2019Q4 us-gaap Assets Of Disposal Group Including Discontinued Operation Current
AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent
122000000 USD
CY2020Q1 us-gaap Disposal Group Including Discontinued Operation Accounts Payable
DisposalGroupIncludingDiscontinuedOperationAccountsPayable
3000000 USD
CY2019Q4 us-gaap Disposal Group Including Discontinued Operation Accounts Payable
DisposalGroupIncludingDiscontinuedOperationAccountsPayable
3000000 USD
CY2020Q1 us-gaap Disposal Group Including Discontinued Operation Other Liabilities
DisposalGroupIncludingDiscontinuedOperationOtherLiabilities
8000000 USD
CY2019Q4 us-gaap Disposal Group Including Discontinued Operation Other Liabilities
DisposalGroupIncludingDiscontinuedOperationOtherLiabilities
6000000 USD
CY2020Q1 us-gaap Liabilities Of Disposal Group Including Discontinued Operation Current
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent
11000000 USD
CY2019Q4 us-gaap Liabilities Of Disposal Group Including Discontinued Operation Current
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent
9000000 USD
CY2020Q1 us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
0 USD
CY2019Q1 us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
27000000 USD
CY2020Q1 us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
0 USD
CY2019Q1 us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
27000000 USD
CY2020Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
5403000000 USD
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2279000000 USD
CY2020Q1 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
1000000 USD
CY2019Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
1000000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
5404000000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2280000000 USD
CY2020Q1 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
666000000 USD
CY2019Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
511000000 USD
CY2020Q1 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
377000000 USD
CY2019Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
364000000 USD
CY2020Q1 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
1788000000 USD
CY2019Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
1846000000 USD
CY2020Q1 us-gaap Inventory Net
InventoryNet
2831000000 USD
CY2019Q4 us-gaap Inventory Net
InventoryNet
2721000000 USD
CY2019Q4 us-gaap Goodwill
Goodwill
35546000000 USD
CY2020Q1 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
226000000 USD
CY2020Q1 khc Goodwill Foreign Currency Translation Gain Lossand Other
GoodwillForeignCurrencyTranslationGainLossandOther
-258000000 USD
CY2020Q1 us-gaap Goodwill
Goodwill
35062000000 USD
CY2020Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3 segment
CY2020Q1 us-gaap Number Of Reporting Units
NumberOfReportingUnits
15 goodwill_reporting_unit
CY2020Q1 us-gaap Goodwill
Goodwill
35100000000 USD
CY2020Q1 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
8400000000 USD
CY2019Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
43400000000 USD
CY2020Q1 us-gaap Indefinite Lived Intangible Assets Foreign Currency Translation Gain Loss
IndefiniteLivedIntangibleAssetsForeignCurrencyTranslationGainLoss
-280000000 USD
CY2020Q1 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
43120000000 USD
CY2020Q1 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
43100000000 USD
CY2020Q1 us-gaap Impairment Of Intangible Assets Indefinitelived Excluding Goodwill
ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill
0 USD
CY2020Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
6508000000 USD
CY2020Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1369000000 USD
CY2020Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
5139000000 USD
CY2019Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
6570000000 USD
CY2019Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1318000000 USD
CY2019Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
5252000000 USD
CY2020Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
68000000 USD
CY2019Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
76000000 USD
CY2020Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
272000000 USD
CY2020Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
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CY2020Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
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CY2020Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
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CY2020Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
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CY2019Q1 us-gaap Effective Income Tax Rate Continuing Operations
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CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
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62.91
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CY2020Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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24.78
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CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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CY2020Q1 us-gaap Derivative Collateral Right To Reclaim Cash
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CY2019Q4 us-gaap Derivative Collateral Right To Reclaim Cash
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CY2019Q4 us-gaap Derivative Collateral Obligation To Return Cash
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CY2019Q4 khc Margin Deposit Liability
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314000000 USD
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CY2019Q4 us-gaap Commercial Paper
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1220000000 shares
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CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
3124000000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2280000000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
5404000000 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
304000000 USD
CY2019Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
249000000 USD
CY2019Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
200000000 USD
CY2019Q1 us-gaap Payments For Proceeds From Loans And Leases
PaymentsForProceedsFromLoansAndLeases
0 USD
CY2019Q1 us-gaap Investments In And Advances To Affiliates At Fair Value Gross Additions
InvestmentsInAndAdvancesToAffiliatesAtFairValueGrossAdditions
0 USD
CY2019Q1 us-gaap Proceeds From Divestiture Of Businesses Net Of Cash Divested
ProceedsFromDivestitureOfBusinessesNetOfCashDivested
640000000 USD
CY2019Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
14000000 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
177000000 USD
CY2019Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
1000000 USD
CY2019Q1 us-gaap Proceeds From Issuance Of Commercial Paper
ProceedsFromIssuanceOfCommercialPaper
377000000 USD
CY2019Q1 us-gaap Repayments Of Commercial Paper
RepaymentsOfCommercialPaper
377000000 USD
CY2019Q1 us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
0 USD
CY2019Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
488000000 USD
CY2019Q1 us-gaap Proceeds From Repurchase Of Equity
ProceedsFromRepurchaseOfEquity
0 USD
CY2019Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-15000000 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-504000000 USD
CY2019Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-11000000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2280000000 USD
CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-34000000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1136000000 USD
CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1102000000 USD
CY2020Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
5403000000 USD
CY2020Q1 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
1000000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
5404000000 USD
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2279000000 USD
CY2019Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
1000000 USD

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