$KHC

Kraft Heinz Co

CIK:0001637459|SEC Filings

Condensed Consolidated Statements of Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 27, 2026	Jun. 28, 2025	Jun. 27, 2026	Jun. 28, 2025
Income Statement [Abstract]
Net sales	$ 6,262	$ 6,352	$ 12,309	$ 12,351
Cost of products sold	4,234	4,169	8,062	8,104
Gross profit	2,028	2,183	4,247	4,247
Selling, general and administrative expenses, excluding impairment losses	1,107	891	2,168	1,759
Goodwill impairment losses	2,441	6,694	2,441	6,694
Intangible asset impairment losses	4,911	2,572	4,924	2,572
Selling, general and administrative expenses	8,459	10,157	9,533	11,025
Operating income/(loss)	(6,431)	(7,974)	(5,286)	(6,778)
Interest expense/(income)	(31)	240	205	469
Other expense/(income)	(24)	(47)	(125)	(98)
Income/(loss) before income taxes	(6,376)	(8,167)	(5,366)	(7,149)
Provision for/(benefit from) income taxes	(916)	(344)	(705)	(40)
Net income/(loss)	(5,460)	(7,823)	(4,661)	(7,109)
Net income/(loss) attributable to noncontrolling interest	0	1	1	3
Net income/(loss) attributable to common shareholders	$ (5,460)	$ (7,824)	$ (4,662)	$ (7,112)
Per share data applicable to common shareholders:
Basic earnings/(loss) per common share (in dollars per share)	$ (4.60)	$ (6.60)	$ (3.93)	$ (5.98)
Diluted earnings/(loss) per common share (in dollars per share)	$ (4.60)	$ (6.60)	$ (3.93)	$ (5.98)

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 27, 2026	Jun. 28, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income/(loss)	$ (4,661)	$ (7,109)
Adjustments to reconcile net income/(loss) to operating cash flows:
Depreciation and amortization	506	472
Divestiture-related license income	(26)	(26)
Equity award compensation expense	53	53
Deferred income tax provision/(benefit)	(1,167)	(595)
Payment for Pension and Other Postretirement Benefits	(8)	(8)
Goodwill and intangible asset impairment losses	7,365	9,266
Nonmonetary currency devaluation	16	21
Loss/(gain) on sale of business	(3)	0
Loss/(gain) on extinguishment of debt	(265)	0
Other items, net	(124)	(28)
Changes in current assets and liabilities:
Trade receivables	(61)	(123)
Inventories	(228)	(164)
Accounts payable	392	109
Other current assets	(19)	1
Other current liabilities	318	60
Net cash provided by/(used for) operating activities	2,088	1,929
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(429)	(425)
Purchases of marketable securities	(105)	(1,033)
Proceeds from sale of marketable securities	910	45
Proceeds from sale of business, net of cash disposed and working capital adjustments	146	9
Other investing activities, net	29	56
Net cash provided by/(used for) investing activities	551	(1,348)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments of long-term debt	2,981	676
Proceeds from issuance of long-term debt	1,152	1,620
Dividends paid	(949)	(951)
Repurchases of common stock	(27)	(435)
Other financing activities, net	(77)	19
Net cash provided by/(used for) financing activities	(2,882)	(423)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	(12)	68
Cash, cash equivalents, and restricted cash
Net increase/(decrease)	(255)	226
Balance at beginning of period	2,944	1,486
Balance at end of period	$ 2,689	$ 1,712

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 27, 2026	Dec. 27, 2025
ASSETS
Cash and cash equivalents	$ 2,419	$ 2,615
Trade receivables (net of allowances of $34 at June 27, 2026 and $34 at December 27, 2025)	2,286	2,254
Inventories	3,308	3,167
Prepaid expenses	266	291
Marketable Securities, Current	262	1,060
Other current assets	710	588
Assets held for sale	0	152
Total current assets	9,251	10,127
Property, plant and equipment, net	7,199	7,318
Goodwill	19,714	22,179
Intangible assets, net	32,372	37,529
Other non-current assets	4,529	4,633
TOTAL ASSETS	73,065	81,786
LIABILITIES AND EQUITY
Current portion of long-term debt	1,382	1,908
Accounts payable	4,478	4,308
Accrued marketing	990	801
Interest payable	271	298
Other current liabilities	1,595	1,455
Liabilities held for sale	0	8
Total current liabilities	8,716	8,778
Long-term debt	17,619	19,311
Deferred income taxes	7,848	9,022
Accrued postemployment costs	128	131
Long-term deferred income	1,291	1,321
Other non-current liabilities	1,333	1,434
TOTAL LIABILITIES	36,935	39,997
Commitments and Contingencies (Note 14)
Redeemable noncontrolling interest	13	12
Equity:
Common stock, $0.01 par value (5,000 shares authorized; 1,260 shares issued and 1,186 shares outstanding at June 27, 2026; 1,257 shares issued and 1,184 shares outstanding at December 27, 2025)	12	12
Additional paid-in capital	50,392	51,287
Retained earnings/(deficit)	(9,291)	(4,629)
Accumulated other comprehensive income/(losses)	(2,458)	(2,370)
Treasury stock, at cost (74 shares at June 27, 2026 and 73 shares at December 27, 2025)	(2,649)	(2,636)
Total shareholders' equity	36,006	41,664
Noncontrolling interest	111	113
TOTAL EQUITY	36,117	41,777
TOTAL LIABILITIES AND EQUITY	$ 73,065	$ 81,786