$KHC
Kraft Heinz Co

2021 Q4 Form 10-Q Financial Statement

#000163745921000127 Filed on October 28, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2020 Q3
Revenue $6.709B $6.324B $6.441B
YoY Change -3.31% -1.82% 6.01%
Cost Of Revenue $4.534B $4.296B $4.097B
YoY Change 2.28% 4.86% -0.78%
Gross Profit $2.175B $2.028B $2.344B
YoY Change -13.79% -13.48% 20.39%
Gross Profit Margin 32.42% 32.07% 36.39%
Selling, General & Admin $869.0M $872.0M $1.197B
YoY Change -8.14% -27.15% 56.06%
% of Gross Profit 39.95% 43.0% 51.07%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $233.0M $228.0M $232.0M
YoY Change -5.67% -1.72% -4.53%
% of Gross Profit 10.71% 11.24% 9.9%
Operating Expenses $869.0M $872.0M $1.197B
YoY Change -8.14% -27.15% 56.06%
Operating Profit $1.306B $1.156B $1.147B
YoY Change -17.18% 0.78% -2.8%
Interest Expense -$589.0M $415.0M $314.0M
YoY Change 79.57% 32.17% -21.11%
% of Operating Profit -45.1% 35.9% 27.38%
Other Income/Expense, Net $57.00M $138.0M $73.00M
YoY Change -29.63% 89.04% -80.79%
Pretax Income -$520.0M $879.0M $906.0M
YoY Change -140.44% -2.98% -22.03%
Income Tax -$30.00M $143.0M $308.0M
% Of Pretax Income 16.27% 34.0%
Net Earnings -$257.0M $733.0M $597.0M
YoY Change -124.85% 22.78% -33.59%
Net Earnings / Revenue -3.83% 11.59% 9.27%
Basic Earnings Per Share $0.60 $0.49
Diluted Earnings Per Share -$210.0K $0.59 $0.49
COMMON SHARES
Basic Shares Outstanding 1.225B shares 1.225B shares 1.223B shares
Diluted Shares Outstanding 1.236B shares 1.229B shares

Balance Sheet

Concept 2021 Q4 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.445B $2.273B $2.720B
YoY Change 0.82% -16.43% 17.49%
Cash & Equivalents $3.445B $2.273B $2.720B
Short-Term Investments
Other Short-Term Assets $716.0M $603.0M $401.0M
YoY Change 24.74% 50.37% -64.32%
Inventory $2.729B $2.839B $2.661B
Prepaid Expenses $136.0M $158.0M $382.0M
Receivables $1.957B $1.958B $1.979B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $8.994B $9.557B $10.07B
YoY Change -16.89% -5.05% 10.3%
LONG-TERM ASSETS
Property, Plant & Equipment $6.806B $6.588B $6.558B
YoY Change -1.02% 0.46% -5.31%
Goodwill $31.30B $31.40B $32.90B
YoY Change -5.42% -4.56% -8.17%
Intangibles $43.54B $44.80B $46.42B
YoY Change -6.7% -3.48% -4.71%
Long-Term Investments
YoY Change
Other Assets $2.756B $2.563B $2.220B
YoY Change 15.99% 15.45% -0.49%
Total Long-Term Assets $84.40B $85.34B $88.06B
YoY Change -5.18% -3.09% -6.02%
TOTAL ASSETS
Total Short-Term Assets $8.994B $9.557B $10.07B
Total Long-Term Assets $84.40B $85.34B $88.06B
Total Assets $93.39B $94.90B $98.12B
YoY Change -6.45% -3.29% -4.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.753B $4.380B $4.052B
YoY Change 10.43% 8.09% -2.5%
Accrued Expenses $1.072B $1.193B $1.334B
YoY Change -17.79% -10.57% 50.06%
Deferred Revenue
YoY Change
Short-Term Debt $14.00M $1.000M $6.000M
YoY Change 133.33% -83.33% -60.0%
Long-Term Debt Due $740.0M $1.034B $529.0M
YoY Change 221.74% 95.46% -79.21%
Total Short-Term Liabilities $9.064B $8.455B $7.694B
YoY Change 12.44% 9.89% -15.56%
LONG-TERM LIABILITIES
Long-Term Debt $21.06B $22.94B $27.88B
YoY Change -24.97% -17.74% -0.82%
Other Long-Term Liabilities $1.542B $1.638B $1.496B
YoY Change -11.63% 9.49% 1.98%
Total Long-Term Liabilities $1.542B $1.638B $1.496B
YoY Change -11.63% 9.49% 1.98%
TOTAL LIABILITIES
Total Short-Term Liabilities $9.064B $8.455B $7.694B
Total Long-Term Liabilities $1.542B $1.638B $1.496B
Total Liabilities $43.94B $44.66B $48.78B
YoY Change -11.38% -8.45% -4.38%
SHAREHOLDERS EQUITY
Retained Earnings -$1.682B -$1.425B -$3.739B
YoY Change -37.56% -61.89% 15.37%
Common Stock $12.00M $12.00M $12.00M
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $587.0M $463.0M $341.0M
YoY Change 70.64% 35.78% 28.68%
Treasury Stock Shares 11.00M shares
Shareholders Equity $49.30B $50.09B $49.22B
YoY Change
Total Liabilities & Shareholders Equity $93.39B $94.90B $98.12B
YoY Change -6.45% -3.29% -4.57%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income -$257.0M $733.0M $597.0M
YoY Change -124.85% 22.78% -33.59%
Depreciation, Depletion And Amortization $233.0M $228.0M $232.0M
YoY Change -5.67% -1.72% -4.53%
Cash From Operating Activities $2.916B $419.0M $1.110B
YoY Change 81.91% -62.25% 66.92%
INVESTING ACTIVITIES
Capital Expenditures -$250.0M -$224.0M -$139.0M
YoY Change 25.63% 61.15% 4.51%
Acquisitions
YoY Change
Other Investing Activities $1.544B -$59.00M $14.00M
YoY Change 3858.97% -521.43% -98.89%
Cash From Investing Activities $1.294B -$283.0M -$125.0M
YoY Change -908.75% 126.4% -111.07%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -3.011B -1.778B -1.072B
YoY Change 266.3% 65.86% 18.58%
NET CHANGE
Cash From Operating Activities 2.916B 419.0M 1.110B
Cash From Investing Activities 1.294B -283.0M -125.0M
Cash From Financing Activities -3.011B -1.778B -1.072B
Net Change In Cash 1.199B -1.642B -87.00M
YoY Change 93.08% 1787.36% -109.78%
FREE CASH FLOW
Cash From Operating Activities $2.916B $419.0M $1.110B
Capital Expenditures -$250.0M -$224.0M -$139.0M
Free Cash Flow $3.166B $643.0M $1.249B
YoY Change 75.69% -48.52% 56.52%

Facts In Submission

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dei Document Fiscal Period Focus
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dei Current Fiscal Year End Date
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dei Document Type
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dei Document Period End Date
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dei Entity Registrant Name
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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 2021 fiscal year is scheduled to be a 52-week period ending on December 25, 2021, and the 2020 fiscal year was a 52-week period that ended on December 26, 2020.</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 26, 2020 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 26, 2020. 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"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We manage and report our operating results through three reportable segments defined by geographic region: United States, International, and Canada.</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%">The ongoing spread of COVID-19 throughout the United States and internationally, as well as measures implemented by governmental authorities and private businesses in an attempt to minimize transmission of the virus, including social distancing mandates, shelter-in-place orders, vaccine mandates, and business restrictions and shutdowns, and consumer responses have had and continue to have negative and positive implications for portions of our business. Though many areas have relaxed restrictions, varying levels remain throughout the world, are continuously evolving, and may be increased, including as a result of further outbreaks, resurgences, or the emergence of new variants. </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 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 15, </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 and adjustments to certain previously reported financial information to conform to our current period presentation. In the first quarter of 2021, we reclassified certain balances, which were previously reported in prepaid expenses, to inventories on our condensed consolidated balance sheets. Certain financial statement line items in our condensed consolidated balance sheet at December 26, 2020 and our condensed consolidated statement of cash flows for the nine months ended September 26, 2020, were adjusted as necessary. See Note 7, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Inventories</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><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 25, 2021, we classified certain assets and liabilities as held for sale in our condensed consolidated balance sheet, primarily relating to the divestiture of certain of our cheese businesses and certain manufacturing equipment in the United States. At December 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 our cheese businesses, a business in our International segment, and 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>
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 2021 fiscal year is scheduled to be a 52-week period ending on December 25, 2021, and the 2020 fiscal year was a 52-week period that ended on December 26, 2020.
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 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
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 and adjustments to certain previously reported financial information to conform to our current period presentation. In the first quarter of 2021, we reclassified certain balances, which were previously reported in prepaid expenses, to inventories on our condensed consolidated balance sheets. Certain financial statement line items in our condensed consolidated balance sheet at December 26, 2020 and our condensed consolidated statement of cash flows for the nine months ended September 26, 2020, were adjusted as necessary. See Note 7, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Inventories</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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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2021Q3 khc Depreciationandamortizationexcludingintegrationandrestructuringexpenses
Depreciationandamortizationexcludingintegrationandrestructuringexpenses
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Depreciationandamortizationexcludingintegrationandrestructuringexpenses
232000000 USD
khc Depreciationandamortizationexcludingintegrationandrestructuringexpenses
Depreciationandamortizationexcludingintegrationandrestructuringexpenses
677000000 USD
khc Depreciationandamortizationexcludingintegrationandrestructuringexpenses
Depreciationandamortizationexcludingintegrationandrestructuringexpenses
722000000 USD
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15000000 USD
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Integrationandrestructuringexpenses
8000000 USD
khc Integrationandrestructuringexpenses
Integrationandrestructuringexpenses
52000000 USD
khc Integrationandrestructuringexpenses
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12000000 USD
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BusinessCombinationAcquisitionRelatedCosts
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CY2020Q3 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
9000000 USD
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
8000000 USD
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
9000000 USD
CY2021Q3 khc Unrealized Gain Losson Commodity Hedge Contracts
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-27000000 USD
CY2020Q3 khc Unrealized Gain Losson Commodity Hedge Contracts
UnrealizedGainLossonCommodityHedgeContracts
70000000 USD
khc Unrealized Gain Losson Commodity Hedge Contracts
UnrealizedGainLossonCommodityHedgeContracts
12000000 USD
khc Unrealized Gain Losson Commodity Hedge Contracts
UnrealizedGainLossonCommodityHedgeContracts
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CY2021Q3 us-gaap Asset Impairment Charges
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CY2020Q3 us-gaap Asset Impairment Charges
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300000000 USD
us-gaap Asset Impairment Charges
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343000000 USD
us-gaap Asset Impairment Charges
AssetImpairmentCharges
3399000000 USD
CY2021Q3 khc Non Ordinary Legal And Regulatory Matters
NonOrdinaryLegalAndRegulatoryMatters
0 USD
CY2020Q3 khc Non Ordinary Legal And Regulatory Matters
NonOrdinaryLegalAndRegulatoryMatters
0 USD
khc Non Ordinary Legal And Regulatory Matters
NonOrdinaryLegalAndRegulatoryMatters
62000000 USD
khc Non Ordinary Legal And Regulatory Matters
NonOrdinaryLegalAndRegulatoryMatters
0 USD
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Equityawardcompensationexpenseexcludingintegrationandrestructuringexpenses
51000000 USD
CY2020Q3 khc Equityawardcompensationexpenseexcludingintegrationandrestructuringexpenses
Equityawardcompensationexpenseexcludingintegrationandrestructuringexpenses
41000000 USD
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Equityawardcompensationexpenseexcludingintegrationandrestructuringexpenses
155000000 USD
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Equityawardcompensationexpenseexcludingintegrationandrestructuringexpenses
114000000 USD
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OperatingIncomeLoss
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us-gaap Operating Income Loss
OperatingIncomeLoss
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us-gaap Operating Income Loss
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578000000 USD
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415000000 USD
CY2020Q3 us-gaap Interest Expense
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OtherNonoperatingIncomeExpense
73000000 USD
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OtherNonoperatingIncomeExpense
191000000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
232000000 USD
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879000000 USD
CY2020Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
906000000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
2228000000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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us-gaap Interest Expense
InterestExpense
1443000000 USD
us-gaap Interest Expense
InterestExpense
1066000000 USD
CY2021Q3 us-gaap Other Nonoperating Income Expense
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138000000 USD
CY2021Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
6324000000 USD
CY2020Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
6441000000 USD
us-gaap Revenue From Contract With Customer Including Assessed Tax
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19333000000 USD
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
19246000000 USD
CY2021Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
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6324000000 USD
CY2020Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
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6441000000 USD
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
19333000000 USD
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
19246000000 USD
CY2021Q3 us-gaap Defined Benefit Plan Amortization Of Prior Service Cost Credit
DefinedBenefitPlanAmortizationOfPriorServiceCostCredit
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CY2020Q3 us-gaap Defined Benefit Plan Amortization Of Prior Service Cost Credit
DefinedBenefitPlanAmortizationOfPriorServiceCostCredit
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us-gaap Defined Benefit Plan Amortization Of Prior Service Cost Credit
DefinedBenefitPlanAmortizationOfPriorServiceCostCredit
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us-gaap Defined Benefit Plan Amortization Of Prior Service Cost Credit
DefinedBenefitPlanAmortizationOfPriorServiceCostCredit
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CY2021Q3 us-gaap Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component
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CY2020Q3 us-gaap Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component
NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent
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us-gaap Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component
NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent
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us-gaap Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component
NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent
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CY2021Q3 us-gaap Disposal Group Not Discontinued Operation Gain Loss On Disposal
DisposalGroupNotDiscontinuedOperationGainLossOnDisposal
76000000 USD
CY2020Q3 us-gaap Disposal Group Not Discontinued Operation Gain Loss On Disposal
DisposalGroupNotDiscontinuedOperationGainLossOnDisposal
0 USD
us-gaap Disposal Group Not Discontinued Operation Gain Loss On Disposal
DisposalGroupNotDiscontinuedOperationGainLossOnDisposal
11000000 USD
us-gaap Disposal Group Not Discontinued Operation Gain Loss On Disposal
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CY2021Q3 us-gaap Investment Income Interest
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4000000 USD
CY2020Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
6000000 USD
us-gaap Investment Income Interest
InvestmentIncomeInterest
13000000 USD
us-gaap Investment Income Interest
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23000000 USD
CY2021Q3 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
26000000 USD
CY2020Q3 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
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us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
56000000 USD
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
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CY2021Q3 khc Derivative Gain Loss On Derivative Excluding Net Investment Hedges Net
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CY2020Q3 khc Derivative Gain Loss On Derivative Excluding Net Investment Hedges Net
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50000000 USD
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77000000 USD
CY2021Q3 khc Other Miscellaneous Expense Income
OtherMiscellaneousExpenseIncome
2000000 USD
CY2020Q3 khc Other Miscellaneous Expense Income
OtherMiscellaneousExpenseIncome
2000000 USD
khc Other Miscellaneous Expense Income
OtherMiscellaneousExpenseIncome
2000000 USD
khc Other Miscellaneous Expense Income
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CY2021Q3 us-gaap Other Nonoperating Income Expense
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us-gaap Other Nonoperating Income Expense
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us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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CY2021Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
138000000 USD
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73000000 USD
CY2021Q3 us-gaap Foreign Currency Transaction Gain Loss Before Tax
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26000000 USD
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CY2021Q3 us-gaap Disposal Group Not Discontinued Operation Gain Loss On Disposal
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76000000 USD
CY2021Q3 khc Increase Decrease In Year Over Year Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component
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10000000 USD
CY2021Q3 khc Derivative Gain Loss On Derivative Excluding Net Investment Hedges Net
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khc Derivative Gain Loss On Derivative Excluding Net Investment Hedges Net
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us-gaap Disposal Group Not Discontinued Operation Gain Loss On Disposal
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