$KHC
Kraft Heinz Co

2020 Q4 Form 10-Q Financial Statement

#000163745920000159 Filed on October 30, 2020

View on sec.gov

Income Statement

Concept 2020 Q4 2020 Q3 2019 Q3
Revenue $6.939B $6.441B $6.076B
YoY Change 6.17% 6.01% -4.81%
Cost Of Revenue $4.433B $4.097B $4.129B
YoY Change 0.57% -0.78% -3.73%
Gross Profit $2.523B $2.344B $1.947B
YoY Change 19.74% 20.39% -7.02%
Gross Profit Margin 36.36% 36.39% 32.04%
Selling, General & Admin $946.0M $1.197B $767.0M
YoY Change 16.5% 56.06% -24.8%
% of Gross Profit 37.5% 51.07% 39.39%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $247.0M $232.0M $243.0M
YoY Change -3.89% -4.53% -2.8%
% of Gross Profit 9.79% 9.9% 12.48%
Operating Expenses $946.0M $1.197B $767.0M
YoY Change 16.5% 56.06% -24.8%
Operating Profit $1.577B $1.147B $1.180B
YoY Change 21.78% -2.8% 9.87%
Interest Expense -$328.0M $314.0M $398.0M
YoY Change 3.14% -21.11% 22.09%
% of Operating Profit -20.8% 27.38% 33.73%
Other Income/Expense, Net $81.00M $73.00M $380.0M
YoY Change 42.11% -80.79% 435.21%
Pretax Income $1.286B $906.0M $1.162B
YoY Change 293.27% -22.03% 41.88%
Income Tax $333.0M $308.0M $264.0M
% Of Pretax Income 25.89% 34.0% 22.72%
Net Earnings $1.034B $597.0M $899.0M
YoY Change 465.03% -33.59% 45.23%
Net Earnings / Revenue 14.9% 9.27% 14.8%
Basic Earnings Per Share $0.84 $0.49 $0.74
Diluted Earnings Per Share $0.84 $0.49 $0.74
COMMON SHARES
Basic Shares Outstanding 1.223B shares 1.223B shares 1.221B shares
Diluted Shares Outstanding 1.229B shares 1.223B shares

Balance Sheet

Concept 2020 Q4 2020 Q3 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.417B $2.720B $2.315B
YoY Change 49.93% 17.49% 69.47%
Cash & Equivalents $3.417B $2.720B $2.315B
Short-Term Investments
Other Short-Term Assets $574.0M $401.0M $1.124B
YoY Change -7.12% -64.32% 219.32%
Inventory $2.773B $2.661B $3.158B
Prepaid Expenses $132.0M $382.0M $415.0M
Receivables $2.063B $1.979B $1.959B
Other Receivables $0.00 $0.00 $119.0M
Total Short-Term Assets $10.82B $10.07B $9.125B
YoY Change 33.65% 10.3% 20.76%
LONG-TERM ASSETS
Property, Plant & Equipment $6.876B $6.558B $6.926B
YoY Change -2.54% -5.31% -2.09%
Goodwill $33.09B $32.90B $35.83B
YoY Change -6.91% -8.17% -19.2%
Intangibles $46.67B $46.42B $48.71B
YoY Change -4.08% -4.71% -17.05%
Long-Term Investments
YoY Change
Other Assets $2.376B $2.220B $2.231B
YoY Change 13.14% -0.49% 18.73%
Total Long-Term Assets $89.01B $88.06B $93.70B
YoY Change -4.65% -6.02% -16.36%
TOTAL ASSETS
Total Short-Term Assets $10.82B $10.07B $9.125B
Total Long-Term Assets $89.01B $88.06B $93.70B
Total Assets $99.83B $98.12B $102.8B
YoY Change -1.6% -4.57% -14.01%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.304B $4.052B $4.156B
YoY Change 7.52% -2.5% -3.62%
Accrued Expenses $1.304B $1.334B $889.0M
YoY Change 10.7% 50.06% 9.89%
Deferred Revenue
YoY Change
Short-Term Debt $6.000M $6.000M $15.00M
YoY Change 0.0% -60.0% -98.46%
Long-Term Debt Due $230.0M $529.0M $2.545B
YoY Change -77.5% -79.21% 528.4%
Total Short-Term Liabilities $8.061B $7.694B $9.112B
YoY Change 2.36% -15.56% 19.55%
LONG-TERM LIABILITIES
Long-Term Debt $28.07B $27.88B $28.11B
YoY Change -0.52% -0.82% -9.31%
Other Long-Term Liabilities $1.745B $1.496B $1.467B
YoY Change 19.6% 1.98% 41.74%
Total Long-Term Liabilities $1.745B $1.496B $1.467B
YoY Change 19.6% 1.98% 41.74%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.061B $7.694B $9.112B
Total Long-Term Liabilities $1.745B $1.496B $1.467B
Total Liabilities $49.59B $48.78B $51.02B
YoY Change -0.23% -4.38% -5.81%
SHAREHOLDERS EQUITY
Retained Earnings -$2.694B -$3.739B -$3.241B
YoY Change -11.96% 15.37% -138.22%
Common Stock $12.00M $12.00M $12.00M
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $344.0M $341.0M $265.0M
YoY Change 26.94% 28.68% 0.38%
Treasury Stock Shares 5.000M shares
Shareholders Equity $50.10B $49.22B $51.67B
YoY Change
Total Liabilities & Shareholders Equity $99.83B $98.12B $102.8B
YoY Change -1.6% -4.57% -14.01%

Cashflow Statement

Concept 2020 Q4 2020 Q3 2019 Q3
OPERATING ACTIVITIES
Net Income $1.034B $597.0M $899.0M
YoY Change 465.03% -33.59% 45.23%
Depreciation, Depletion And Amortization $247.0M $232.0M $243.0M
YoY Change -3.89% -4.53% -2.8%
Cash From Operating Activities $1.603B $1.110B $665.0M
YoY Change 2.62% 66.92% 0.45%
INVESTING ACTIVITIES
Capital Expenditures -$199.0M -$139.0M -$133.0M
YoY Change 6.42% 4.51% -14.74%
Acquisitions
YoY Change
Other Investing Activities $39.00M $14.00M $1.262B
YoY Change -93.36% -98.89% 1935.48%
Cash From Investing Activities -$160.0M -$125.0M $1.129B
YoY Change -140.0% -111.07% -1301.06%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -822.0M -1.072B -904.0M
YoY Change -59.55% 18.58% -64.24%
NET CHANGE
Cash From Operating Activities 1.603B 1.110B 665.0M
Cash From Investing Activities -160.0M -125.0M 1.129B
Cash From Financing Activities -822.0M -1.072B -904.0M
Net Change In Cash 621.0M -87.00M 890.0M
YoY Change -987.14% -109.78% -145.41%
FREE CASH FLOW
Cash From Operating Activities $1.603B $1.110B $665.0M
Capital Expenditures -$199.0M -$139.0M -$133.0M
Free Cash Flow $1.802B $1.249B $798.0M
YoY Change 3.03% 56.52% -2.44%

Facts In Submission

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dei Document Period End Date
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Kraft Heinz Co
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Basis of Presentation<div style="margin-top:9pt;text-align:justify"><span style="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="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We operate on a 52- or 53-week fiscal year ending on the last Saturday in December in each calendar year. Unless the context requires otherwise, references to years and quarters contained herein pertain to our fiscal years and fiscal quarters. Our 2020 fiscal year is scheduled to be a 52-week period ending on December 26, 2020, and the 2019 fiscal year was a 52-week period that ended on December 28, 2019.</span></div><div style="margin-top:9pt;text-align:justify"><span style="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="margin-top:9pt;text-align:justify"><span style="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="margin-top:9pt;text-align:justify"><span style="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="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Reportable Segments</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In the first quarter of 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="margin-top:9pt;text-align:justify"><span style="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="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Considerations Related to the Novel Coronavirus </span></div><div style="margin-top:9pt;text-align:justify"><span style="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 (“COVID-19”) was identified in Wuhan, China. On January 31, 2020, the United States declared a public health emergency related to COVID-19 and, on March 11, 2020, the World Health Organization declared that the spread of COVID-19 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. Though various areas have begun relaxing such precautions, varying levels of restrictions remain in many places and may be increased. These restrictions, while necessary and important for public health, have negative and positive implications for portions of our business and the U.S. and global economies. 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 COVID-19 and its impacts are unprecedented and ever evolving, future events and effects related to the pandemic cannot be determined with precision and actual results could significantly differ from estimates or forecasts.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">See Note 8, </span><span style="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="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, Note 11, </span><span style="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="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, and Note 16, </span><span style="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="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="margin-top:9pt;text-align:justify"><span style="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="margin-top:9pt;text-align:justify"><span style="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="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Reclassifications</span></div><div style="margin-top:9pt;text-align:justify"><span style="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><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Held for Sale</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At September 26, 2020, we classified certain assets and liabilities as held for sale in our condensed consolidated balance sheet, primarily relating to the divestiture of certain of the Company’s cheese businesses, businesses in our International segment, and certain manufacturing equipment and land use rights across the globe. At December 28, 2019, the assets and liabilities identified as held for sale in our condensed consolidated balance sheet primarily related to businesses in our International segment, as well as certain manufacturing equipment and land use rights across the globe. See Note 4, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Acquisitions and Divestitures</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, for additional information.</span></div>
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<div style="margin-top:9pt;text-align:justify"><span style="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="margin-top:9pt;text-align:justify"><span style="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>
us-gaap Prior Period Reclassification Adjustment Description
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<div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Reclassifications</span></div><div style="margin-top:9pt;text-align:justify"><span style="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>
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us-gaap Earnings Per Share Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1222000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1220000000 shares
CY2020Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
6000000 shares
CY2019Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
2000000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
3000000 shares
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1229000000 shares
CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1223000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1222000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1223000000 shares
CY2020Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.49
CY2019Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.74
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.55
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.43
CY2020Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
8000000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
16000000 shares
CY2019Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
13000000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
11000000 shares
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3 segment
CY2020Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
6441000000 USD
CY2019Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
6076000000 USD
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
19246000000 USD
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
18441000000 USD
CY2020Q3 khc Depreciationandamortizationexcludingintegrationandrestructuringexpenses
Depreciationandamortizationexcludingintegrationandrestructuringexpenses
232000000 USD
CY2019Q3 khc Depreciationandamortizationexcludingintegrationandrestructuringexpenses
Depreciationandamortizationexcludingintegrationandrestructuringexpenses
243000000 USD
khc Depreciationandamortizationexcludingintegrationandrestructuringexpenses
Depreciationandamortizationexcludingintegrationandrestructuringexpenses
722000000 USD
khc Depreciationandamortizationexcludingintegrationandrestructuringexpenses
Depreciationandamortizationexcludingintegrationandrestructuringexpenses
730000000 USD
CY2020Q3 khc Integrationandrestructuringexpenses
Integrationandrestructuringexpenses
8000000 USD
CY2019Q3 khc Integrationandrestructuringexpenses
Integrationandrestructuringexpenses
15000000 USD
khc Integrationandrestructuringexpenses
Integrationandrestructuringexpenses
12000000 USD
khc Integrationandrestructuringexpenses
Integrationandrestructuringexpenses
56000000 USD
CY2020Q3 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
9000000 USD
CY2019Q3 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
6000000 USD
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
9000000 USD
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
19000000 USD
CY2020Q3 khc Unrealized Gain Losson Commodity Hedge Contracts
UnrealizedGainLossonCommodityHedgeContracts
70000000 USD
CY2019Q3 khc Unrealized Gain Losson Commodity Hedge Contracts
UnrealizedGainLossonCommodityHedgeContracts
-9000000 USD
khc Unrealized Gain Losson Commodity Hedge Contracts
UnrealizedGainLossonCommodityHedgeContracts
-47000000 USD
khc Unrealized Gain Losson Commodity Hedge Contracts
UnrealizedGainLossonCommodityHedgeContracts
30000000 USD
CY2020Q3 us-gaap Asset Impairment Charges
AssetImpairmentCharges
300000000 USD
CY2019Q3 us-gaap Asset Impairment Charges
AssetImpairmentCharges
5000000 USD
us-gaap Asset Impairment Charges
AssetImpairmentCharges
3399000000 USD
us-gaap Asset Impairment Charges
AssetImpairmentCharges
1223000000 USD
CY2020Q3 khc Equityawardcompensationexpenseexcludingintegrationandrestructuringexpenses
Equityawardcompensationexpenseexcludingintegrationandrestructuringexpenses
41000000 USD
CY2019Q3 khc Equityawardcompensationexpenseexcludingintegrationandrestructuringexpenses
Equityawardcompensationexpenseexcludingintegrationandrestructuringexpenses
11000000 USD
khc Equityawardcompensationexpenseexcludingintegrationandrestructuringexpenses
Equityawardcompensationexpenseexcludingintegrationandrestructuringexpenses
114000000 USD
khc Equityawardcompensationexpenseexcludingintegrationandrestructuringexpenses
Equityawardcompensationexpenseexcludingintegrationandrestructuringexpenses
26000000 USD
CY2020Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
1147000000 USD
CY2019Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
1180000000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
578000000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
2476000000 USD
CY2020Q3 us-gaap Interest Expense
InterestExpense
314000000 USD
CY2019Q3 us-gaap Interest Expense
InterestExpense
398000000 USD
us-gaap Interest Expense
InterestExpense
1066000000 USD
us-gaap Interest Expense
InterestExpense
1035000000 USD
CY2020Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
73000000 USD
CY2019Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
380000000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
232000000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
893000000 USD
CY2020Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
906000000 USD
CY2019Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1162000000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-256000000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
2334000000 USD
CY2020Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
6441000000 USD
CY2019Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
6076000000 USD
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
19246000000 USD
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
18441000000 USD
CY2020Q3 us-gaap Defined Benefit Plan Amortization Of Prior Service Cost Credit
DefinedBenefitPlanAmortizationOfPriorServiceCostCredit
-31000000 USD
CY2019Q3 us-gaap Defined Benefit Plan Amortization Of Prior Service Cost Credit
DefinedBenefitPlanAmortizationOfPriorServiceCostCredit
-76000000 USD
us-gaap Defined Benefit Plan Amortization Of Prior Service Cost Credit
DefinedBenefitPlanAmortizationOfPriorServiceCostCredit
-92000000 USD
us-gaap Defined Benefit Plan Amortization Of Prior Service Cost Credit
DefinedBenefitPlanAmortizationOfPriorServiceCostCredit
-229000000 USD
CY2020Q3 us-gaap Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component
NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent
-45000000 USD
CY2019Q3 us-gaap Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component
NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent
-43000000 USD
us-gaap Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component
NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent
-131000000 USD
us-gaap Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component
NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent
-130000000 USD
CY2020Q3 us-gaap Disposal Group Not Discontinued Operation Gain Loss On Disposal
DisposalGroupNotDiscontinuedOperationGainLossOnDisposal
0 USD
CY2019Q3 us-gaap Disposal Group Not Discontinued Operation Gain Loss On Disposal
DisposalGroupNotDiscontinuedOperationGainLossOnDisposal
244000000 USD
us-gaap Disposal Group Not Discontinued Operation Gain Loss On Disposal
DisposalGroupNotDiscontinuedOperationGainLossOnDisposal
-2000000 USD
us-gaap Disposal Group Not Discontinued Operation Gain Loss On Disposal
DisposalGroupNotDiscontinuedOperationGainLossOnDisposal
490000000 USD
CY2020Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
6000000 USD
CY2019Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
10000000 USD
us-gaap Investment Income Interest
InvestmentIncomeInterest
23000000 USD
us-gaap Investment Income Interest
InvestmentIncomeInterest
24000000 USD
CY2020Q3 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-57000000 USD
CY2019Q3 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-31000000 USD
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-81000000 USD
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-14000000 USD
CY2020Q3 khc Other Miscellaneous Expense Income
OtherMiscellaneousExpenseIncome
-48000000 USD
CY2019Q3 khc Other Miscellaneous Expense Income
OtherMiscellaneousExpenseIncome
-38000000 USD
khc Other Miscellaneous Expense Income
OtherMiscellaneousExpenseIncome
-69000000 USD
khc Other Miscellaneous Expense Income
OtherMiscellaneousExpenseIncome
-34000000 USD
CY2020Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
73000000 USD
CY2019Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
380000000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
232000000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
893000000 USD
CY2020Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
73000000 USD
CY2019Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
380000000 USD
CY2019Q3 us-gaap Disposal Group Not Discontinued Operation Gain Loss On Disposal
DisposalGroupNotDiscontinuedOperationGainLossOnDisposal
244000000 USD
CY2019Q3 khc Defined Benefit Plan Increase Decrease In Year Over Year Change In Amortization Of Prior Service Credits
DefinedBenefitPlanIncreaseDecreaseInYearOverYearChangeInAmortizationOfPriorServiceCredits
-45000000 USD
CY2020Q3 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-57000000 USD
CY2019Q3 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-31000000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
232000000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
893000000 USD
us-gaap Disposal Group Not Discontinued Operation Gain Loss On Disposal
DisposalGroupNotDiscontinuedOperationGainLossOnDisposal
-2000000 USD
us-gaap Disposal Group Not Discontinued Operation Gain Loss On Disposal
DisposalGroupNotDiscontinuedOperationGainLossOnDisposal
490000000 USD
khc Defined Benefit Plan Increase Decrease In Year Over Year Change In Amortization Of Prior Service Credits
DefinedBenefitPlanIncreaseDecreaseInYearOverYearChangeInAmortizationOfPriorServiceCredits
-137000000 USD
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-81000000 USD
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-14000000 USD
khc Derivative Gain Loss On Derivative Excluding Foreign Exchange Contracts
DerivativeGainLossOnDerivativeExcludingForeignExchangeContracts
37000000 USD

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