2020 Q4 Form 10-K Financial Statement

#000163745921000009 Filed on February 17, 2021

View on sec.gov

Income Statement

Concept 2020 Q4 2019 Q4 2019 Q3
Revenue $6.939B $6.536B $6.076B
YoY Change 6.17% -5.15% -4.81%
Cost Of Revenue $4.433B $4.408B $4.129B
YoY Change 0.57% -5.71% -3.73%
Gross Profit $2.523B $2.107B $1.947B
YoY Change 19.74% -4.92% -7.02%
Gross Profit Margin 36.36% 32.24% 32.04%
Selling, General & Admin $946.0M $812.0M $767.0M
YoY Change 16.5% -95.03% -24.8%
% of Gross Profit 37.5% 38.54% 39.39%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $247.0M $257.0M $243.0M
YoY Change -3.89% -5.17% -2.8%
% of Gross Profit 9.79% 12.2% 12.48%
Operating Expenses $946.0M $812.0M $767.0M
YoY Change 16.5% -95.03% -24.8%
Operating Profit $1.577B $1.295B $1.180B
YoY Change 21.78% -109.16% 9.87%
Interest Expense -$328.0M -$318.0M $398.0M
YoY Change 3.14% -197.85% 22.09%
% of Operating Profit -20.8% -24.56% 33.73%
Other Income/Expense, Net $81.00M $57.00M $380.0M
YoY Change 42.11% -538.46% 435.21%
Pretax Income $1.286B $327.0M $1.162B
YoY Change 293.27% -102.26% 41.88%
Income Tax $333.0M $144.0M $264.0M
% Of Pretax Income 25.89% 44.04% 22.72%
Net Earnings $1.034B $183.0M $899.0M
YoY Change 465.03% -101.46% 45.23%
Net Earnings / Revenue 14.9% 2.8% 14.8%
Basic Earnings Per Share $0.84 $0.15 $0.74
Diluted Earnings Per Share $0.84 $0.15 $0.74
COMMON SHARES
Basic Shares Outstanding 1.223B shares 1.221B shares 1.221B shares
Diluted Shares Outstanding 1.223B shares

Balance Sheet

Concept 2020 Q4 2019 Q4 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.417B $2.279B $2.315B
YoY Change 49.93% 101.68% 69.47%
Cash & Equivalents $3.417B $2.279B $2.315B
Short-Term Investments
Other Short-Term Assets $574.0M $618.0M $1.124B
YoY Change -7.12% -49.39% 219.32%
Inventory $2.773B $2.721B $3.158B
Prepaid Expenses $132.0M $384.0M $415.0M
Receivables $2.063B $1.973B $1.959B
Other Receivables $0.00 $173.0M $119.0M
Total Short-Term Assets $10.82B $8.097B $9.125B
YoY Change 33.65% -10.78% 20.76%
LONG-TERM ASSETS
Property, Plant & Equipment $6.876B $7.055B $6.926B
YoY Change -2.54% -0.32% -2.09%
Goodwill $33.09B $35.55B $35.83B
YoY Change -6.91% -2.62% -19.2%
Intangibles $46.67B $48.65B $48.71B
YoY Change -4.08% -1.65% -17.05%
Long-Term Investments
YoY Change
Other Assets $2.376B $2.100B $2.231B
YoY Change 13.14% 57.07% 18.73%
Total Long-Term Assets $89.01B $93.35B $93.70B
YoY Change -4.65% -1.09% -16.36%
TOTAL ASSETS
Total Short-Term Assets $10.82B $8.097B $9.125B
Total Long-Term Assets $89.01B $93.35B $93.70B
Total Assets $99.83B $101.5B $102.8B
YoY Change -1.6% -1.94% -14.01%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.304B $4.003B $4.156B
YoY Change 7.52% -3.61% -3.62%
Accrued Expenses $1.304B $1.178B $889.0M
YoY Change 10.7% 4.25% 9.89%
Deferred Revenue
YoY Change
Short-Term Debt $6.000M $6.000M $15.00M
YoY Change 0.0% -71.43% -98.46%
Long-Term Debt Due $230.0M $1.022B $2.545B
YoY Change -77.5% 171.09% 528.4%
Total Short-Term Liabilities $8.061B $7.875B $9.112B
YoY Change 2.36% 4.96% 19.55%
LONG-TERM LIABILITIES
Long-Term Debt $28.07B $28.22B $28.11B
YoY Change -0.52% -8.3% -9.31%
Other Long-Term Liabilities $1.745B $1.459B $1.467B
YoY Change 19.6% 61.75% 41.74%
Total Long-Term Liabilities $1.745B $1.459B $1.467B
YoY Change 19.6% 61.75% 41.74%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.061B $7.875B $9.112B
Total Long-Term Liabilities $1.745B $1.459B $1.467B
Total Liabilities $49.59B $49.70B $51.02B
YoY Change -0.23% -3.83% -5.81%
SHAREHOLDERS EQUITY
Retained Earnings -$2.694B -$3.060B -$3.241B
YoY Change -11.96% -36.95% -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 $271.0M $265.0M
YoY Change 26.94% -3.9% 0.38%
Treasury Stock Shares 5.000M shares 3.000M shares
Shareholders Equity $50.10B $51.62B $51.67B
YoY Change
Total Liabilities & Shareholders Equity $99.83B $101.5B $102.8B
YoY Change -1.6% -1.94% -14.01%

Cashflow Statement

Concept 2020 Q4 2019 Q4 2019 Q3
OPERATING ACTIVITIES
Net Income $1.034B $183.0M $899.0M
YoY Change 465.03% -101.46% 45.23%
Depreciation, Depletion And Amortization $247.0M $257.0M $243.0M
YoY Change -3.89% -5.17% -2.8%
Cash From Operating Activities $1.603B $1.562B $665.0M
YoY Change 2.62% -7.9% 0.45%
INVESTING ACTIVITIES
Capital Expenditures -$199.0M -$187.0M -$133.0M
YoY Change 6.42% -19.4% -14.74%
Acquisitions
YoY Change
Other Investing Activities $39.00M $587.0M $1.262B
YoY Change -93.36% 1577.14% 1935.48%
Cash From Investing Activities -$160.0M $400.0M $1.129B
YoY Change -140.0% -303.05% -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 -2.032B -904.0M
YoY Change -59.55% 17.73% -64.24%
NET CHANGE
Cash From Operating Activities 1.603B 1.562B 665.0M
Cash From Investing Activities -160.0M 400.0M 1.129B
Cash From Financing Activities -822.0M -2.032B -904.0M
Net Change In Cash 621.0M -70.00M 890.0M
YoY Change -987.14% -69.16% -145.41%
FREE CASH FLOW
Cash From Operating Activities $1.603B $1.562B $665.0M
Capital Expenditures -$199.0M -$187.0M -$133.0M
Free Cash Flow $1.802B $1.749B $798.0M
YoY Change 3.03% -9.28% -2.44%

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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:700;line-height:120%">Organization</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%">On July 2, 2015 (the “2015 Merger Date”) through a series of transactions, we consummated the merger of Kraft Foods Group, Inc. (“Kraft”) with and into a wholly-owned subsidiary of H.J. Heinz Holding Corporation (“Heinz”) (the “2015 Merger”). At the closing of the 2015 Merger, Heinz was renamed The Kraft Heinz Company (“Kraft Heinz”). Before the consummation of the 2015 Merger, Heinz was controlled by Berkshire Hathaway Inc. and 3G Global Food Holdings, LP (together, the “Sponsors”), following their acquisition of H. J. Heinz Company on June 7, 2013.</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 was a 52-week period that ended on December 26, 2020, the 2019 fiscal year was a 52-week period that ended on December 28, 2019, and the 2018 fiscal year was a 52-week period that ended on December 29, 2018.</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 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 COVID-19</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 9, </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 12, </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 18, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">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 consolidated financial statements in accordance with accounting principles generally accepted in the United States of America (“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 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 December 26, 2020, we classified certain assets and liabilities as held for sale in our consolidated balance sheet, primarily relating to the divestiture of certain of our cheese businesses, a business 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 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>
CY2020 us-gaap Fiscal Period
FiscalPeriod
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 was a 52-week period that ended on December 26, 2020, the 2019 fiscal year was a 52-week period that ended on December 28, 2019, and the 2018 fiscal year was a 52-week period that ended on December 29, 2018.
CY2020 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3 segment
CY2020 us-gaap Use Of Estimates
UseOfEstimates
<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 consolidated financial statements in accordance with accounting principles generally accepted in the United States of America (“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 consolidated financial statements.</span></div>
CY2020 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<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>
CY2020 us-gaap Advertising Expense
AdvertisingExpense
646000000 USD
CY2019 us-gaap Advertising Expense
AdvertisingExpense
534000000 USD
CY2018 us-gaap Advertising Expense
AdvertisingExpense
584000000 USD
CY2020 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
1200000000 USD
CY2018 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
1100000000 USD
CY2019 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
1100000000 USD
CY2020 us-gaap Research And Development Expense
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119000000 USD
CY2019 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
112000000 USD
CY2018 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
109000000 USD
CY2020 us-gaap Number Of Reporting Units
NumberOfReportingUnits
15 goodwill_reporting_unit
CY2020Q3 khc Disposal Group Including Discontinued Operation Assets Excluding Intangible Assets
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1800000000 USD
CY2020Q3 khc Disposal Group Including Discontinued Operation Assets Excluding Intangible Assets
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1800000000 USD
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CY2019Q4 us-gaap Disposal Group Including Discontinued Operation Cash And Cash Equivalents
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27000000 USD
CY2020Q4 us-gaap Disposal Group Including Discontinued Operation Inventory Current
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CY2019Q4 us-gaap Disposal Group Including Discontinued Operation Inventory Current
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21000000 USD
CY2020Q4 us-gaap Disposal Group Including Discontinued Operation Property Plant And Equipment Current
DisposalGroupIncludingDiscontinuedOperationPropertyPlantAndEquipmentCurrent
257000000 USD
CY2019Q4 us-gaap Disposal Group Including Discontinued Operation Property Plant And Equipment Current
DisposalGroupIncludingDiscontinuedOperationPropertyPlantAndEquipmentCurrent
25000000 USD
CY2020Q4 khc Disposal Group Including Discontinued Operation Goodwill Impaired Accumulated Impairment Loss In Disposal Group
DisposalGroupIncludingDiscontinuedOperationGoodwillImpairedAccumulatedImpairmentLossInDisposalGroup
300000000 USD
CY2019Q4 khc Disposal Group Including Discontinued Operation Goodwill Impaired Accumulated Impairment Loss In Disposal Group
DisposalGroupIncludingDiscontinuedOperationGoodwillImpairedAccumulatedImpairmentLossInDisposalGroup
0 USD
CY2020Q4 us-gaap Disposal Group Including Discontinued Operation Goodwill Current
DisposalGroupIncludingDiscontinuedOperationGoodwillCurrent
281000000 USD
CY2019Q4 us-gaap Disposal Group Including Discontinued Operation Goodwill Current
DisposalGroupIncludingDiscontinuedOperationGoodwillCurrent
0 USD
CY2020Q4 us-gaap Disposal Group Including Discontinued Operation Intangible Assets Current
DisposalGroupIncludingDiscontinuedOperationIntangibleAssetsCurrent
873000000 USD
CY2019Q4 us-gaap Disposal Group Including Discontinued Operation Intangible Assets Current
DisposalGroupIncludingDiscontinuedOperationIntangibleAssetsCurrent
23000000 USD
CY2020Q4 us-gaap Disposal Group Including Discontinued Operation Other Current Assets
DisposalGroupIncludingDiscontinuedOperationOtherCurrentAssets
34000000 USD
CY2019Q4 us-gaap Disposal Group Including Discontinued Operation Other Current Assets
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CY2020Q4 us-gaap Assets Of Disposal Group Including Discontinued Operation Current
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CY2019Q4 us-gaap Assets Of Disposal Group Including Discontinued Operation Current
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CY2020Q4 us-gaap Disposal Group Including Discontinued Operation Other Liabilities
DisposalGroupIncludingDiscontinuedOperationOtherLiabilities
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CY2019Q4 us-gaap Disposal Group Including Discontinued Operation Other Liabilities
DisposalGroupIncludingDiscontinuedOperationOtherLiabilities
9000000 USD
CY2020Q4 us-gaap Liabilities Of Disposal Group Including Discontinued Operation
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation
17000000 USD
CY2019Q4 us-gaap Liabilities Of Disposal Group Including Discontinued Operation
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation
9000000 USD
CY2020 us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
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CY2019 us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
108000000 USD
CY2018 us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
460000000 USD
CY2020 us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
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CY2019 us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
108000000 USD
CY2018 us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
460000000 USD
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
3417000000 USD
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2279000000 USD
CY2020Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
0 USD
CY2019Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
1000000 USD
CY2020Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
1000000 USD
CY2019Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
0 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3418000000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2280000000 USD
CY2020Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
482000000 USD
CY2019Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
511000000 USD
CY2020Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
268000000 USD
CY2019Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
364000000 USD
CY2020Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
1804000000 USD
CY2019Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
1846000000 USD
CY2020Q4 us-gaap Inventory Net
InventoryNet
2554000000 USD
CY2019Q4 us-gaap Inventory Net
InventoryNet
2721000000 USD
CY2020Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Before Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization
10439000000 USD
CY2019Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Before Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization
10242000000 USD
CY2020Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization
3563000000 USD
CY2019Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization
3187000000 USD
CY2020Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
6876000000 USD
CY2019Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
7055000000 USD
CY2020 us-gaap Depreciation
Depreciation
705000000 USD
CY2019 us-gaap Depreciation
Depreciation
708000000 USD
CY2018 us-gaap Depreciation
Depreciation
693000000 USD
CY2019Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
43400000000 USD
CY2019Q4 us-gaap Goodwill
Goodwill
35546000000 USD
CY2020 khc Goodwill Reclassification Due To Segment Change
GoodwillReclassificationDueToSegmentChange
0 USD
CY2020 khc Goodwill Impairment Loss Excluding Impairment Loss On The Disposal Group Held For Sale
GoodwillImpairmentLossExcludingImpairmentLossOnTheDisposalGroupHeldForSale
2043000000 USD
CY2020 us-gaap Goodwill Written Off Related To Sale Of Business Unit
GoodwillWrittenOffRelatedToSaleOfBusinessUnit
581000000 USD
CY2020 khc Goodwill Foreign Currency Translation Gain Lossand Other
GoodwillForeignCurrencyTranslationGainLossandOther
167000000 USD
CY2020Q4 us-gaap Goodwill
Goodwill
33089000000 USD
CY2020 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3 segment
CY2020Q3 us-gaap Goodwill Written Off Related To Sale Of Business Unit
GoodwillWrittenOffRelatedToSaleOfBusinessUnit
580000000 USD
CY2020 us-gaap Number Of Reporting Units
NumberOfReportingUnits
15 goodwill_reporting_unit
CY2020Q4 us-gaap Goodwill
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33100000000 USD
CY2020Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
10500000000 USD
CY2020 us-gaap Impairment Of Intangible Assets Indefinitelived Excluding Goodwill
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1056000000 USD
CY2020 us-gaap Indefinite Lived Intangible Assets Written Off Related To Sale Of Business Unit
IndefiniteLivedIntangibleAssetsWrittenOffRelatedToSaleOfBusinessUnit
228000000 USD
CY2020 us-gaap Indefinite Lived Intangible Assets Foreign Currency Translation Gain Loss
IndefiniteLivedIntangibleAssetsForeignCurrencyTranslationGainLoss
151000000 USD
CY2020Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
42267000000 USD
CY2020Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
42300000000 USD
CY2020Q4 khc Brandpercentageoffairvalueinexcessofcarryingvalue
Brandpercentageoffairvalueinexcessofcarryingvalue
0.20
CY2020Q4 khc Brandpercentageoffairvalueinexcessofcarryingvalue
Brandpercentageoffairvalueinexcessofcarryingvalue
0.20
CY2020Q4 us-gaap Finite Lived Intangible Assets Gross
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5823000000 USD
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FiniteLivedIntangibleAssetsAccumulatedAmortization
1423000000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
4400000000 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
CY2020 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
264000000 USD
CY2019 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
286000000 USD
CY2018 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
290000000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
241000000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
241000000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
241000000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
241000000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
241000000 USD
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
363000000 USD
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
796000000 USD
CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
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CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
667000000 USD
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
1865000000 USD
CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-1016000000 USD
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1030000000 USD
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
2661000000 USD
CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-11321000000 USD
CY2020 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
634000000 USD
CY2019 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
466000000 USD
CY2018 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
444000000 USD
CY2020 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
91000000 USD
CY2019 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
116000000 USD
CY2018 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
134000000 USD
CY2020 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
287000000 USD
CY2019 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
439000000 USD
CY2018 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
322000000 USD
CY2020 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
1012000000 USD
CY2019 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
1021000000 USD
CY2018 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
900000000 USD
CY2020 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-232000000 USD
CY2019 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-209000000 USD
CY2018 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-1843000000 USD
CY2019 khc Effective Income Tax Rate Reconciliation Losses Gains Relatedto Acquisitionsand Divestitures
EffectiveIncomeTaxRateReconciliationLossesGainsRelatedtoAcquisitionsandDivestitures
0.010
CY2020 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-109000000 USD
CY2019 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-7000000 USD
CY2018 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-1067000000 USD
CY2018 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-121000000 USD
CY2020 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-2000000 USD
CY2019 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-77000000 USD
CY2018 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-3000000 USD
CY2020 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-343000000 USD
CY2019 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-293000000 USD
CY2018 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-1967000000 USD
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
669000000 USD
CY2019 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
728000000 USD
CY2020 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2019 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2018 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2020 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.261
CY2019 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.075
CY2018 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
0.034
CY2020 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.006
CY2019 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
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CY2018 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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10000000 USD
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CY2020Q4 us-gaap Purchase Obligation Due In Third Year
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CY2020Q4 us-gaap Purchase Obligation Due In Fourth Year
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CY2020Q4 us-gaap Purchase Obligation Due After Fifth Year
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CY2020Q4 us-gaap Purchase Obligation
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CY2019Q4 us-gaap Commercial Paper
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CY2019Q4 us-gaap Capital Lease Obligations
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CY2019Q4 us-gaap Long Term Debt And Capital Lease Obligations Current
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CY2020Q4 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
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CY2019Q4 us-gaap Long Term Debt And Capital Lease Obligations
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CY2020Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
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152000000 USD
CY2020Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
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CY2020Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
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CY2020Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
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CY2020Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
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CY2020Q4 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
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57000000 USD
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1030000000 USD
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2661000000 USD
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420000000 USD
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154000000 USD
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39000000 USD
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CY2019 us-gaap Disposal Group Not Discontinued Operation Gain Loss On Disposal
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CY2020 us-gaap Foreign Currency Transaction Gain Loss Before Tax
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CY2020 khc Gain Loss On Dissolution Of Joint Venture
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CY2020 khc Defined Benefit Plan Expected Increase Decrease In Amortization Of Prior Service Credits Next Fiscal Year
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CY2019 us-gaap Other Nonoperating Income Expense
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CY2018 us-gaap Disposal Group Not Discontinued Operation Gain Loss On Disposal
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CY2019 khc Nonmonetary Currency Devaluation Increase Decrease In Costs Year Over Year Change
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CY2020Q4 us-gaap Revenue From Contract With Customer Including Assessed Tax
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CY2020Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
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CY2020Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
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CY2020Q2 us-gaap Gross Profit
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CY2020Q1 us-gaap Gross Profit
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CY2020Q4 us-gaap Profit Loss
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CY2020Q3 us-gaap Profit Loss
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CY2020Q2 us-gaap Profit Loss
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CY2020Q1 us-gaap Profit Loss
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CY2020Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2020Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2020Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2020Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2019Q4 us-gaap Revenue From Contract With Customer Including Assessed Tax
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CY2019Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2019Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2019Q4 us-gaap Earnings Per Share Basic
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CY2019Q4 us-gaap Earnings Per Share Diluted
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CY2019Q4 us-gaap Valuation Allowances And Reserves Balance
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18000000 USD
CY2020 us-gaap Valuation Allowances And Reserves Charged To Other Accounts
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CY2020 us-gaap Valuation Allowances And Reserves Deductions
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10000000 USD
CY2020Q4 us-gaap Valuation Allowances And Reserves Balance
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153000000 USD
CY2018Q4 us-gaap Valuation Allowances And Reserves Balance
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105000000 USD
CY2019 us-gaap Valuation Allowances And Reserves Charged To Cost And Expense
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42000000 USD
CY2019 us-gaap Valuation Allowances And Reserves Charged To Other Accounts
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CY2019 us-gaap Valuation Allowances And Reserves Deductions
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CY2019Q4 us-gaap Valuation Allowances And Reserves Balance
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145000000 USD
CY2017Q4 us-gaap Valuation Allowances And Reserves Balance
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103000000 USD
CY2018 us-gaap Valuation Allowances And Reserves Charged To Cost And Expense
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9000000 USD
CY2018 us-gaap Valuation Allowances And Reserves Charged To Other Accounts
ValuationAllowancesAndReservesChargedToOtherAccounts
0 USD
CY2018 us-gaap Valuation Allowances And Reserves Deductions
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7000000 USD
CY2018Q4 us-gaap Valuation Allowances And Reserves Balance
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105000000 USD

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