The Kraft Heinz Company (KHC) Financial Statements (2024 and earlier)

Company Profile

Business Address ONE PPG PLACE
PITTSBURGH, PA 15222
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 203 - Canned, Frozen, And Preserved Fruits, Vegetables, and Food Specialties (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in millions)

3/31/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1,4001,0403,4453,4172,2791,130
Cash and cash equivalents1,4001,0403,4453,4172,2791,130
Receivables2,1122,1201,9572,0632,1462,281
Inventory, net of allowances, customer advances and progress billings3,6143,6512,7292,5542,7212,667
Inventory3,6143,6512,7292,5542,7212,667
Prepaid expense234240136351384400
Disposal group, including discontinued operation 34111,8631221,376
Other current assets5668427165744451,221
Total current assets:7,9297,8978,99410,8228,0979,075
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization 135121126  
Operating lease, right-of-use asset 574668569  
Property, plant and equipment     7,0557,078
Intangible assets, net (including goodwill)72,90773,48274,83879,75684,19885,971
Goodwill30,45930,83331,29633,08935,54636,503
Intangible assets, net (excluding goodwill)42,44842,64943,54246,66748,65249,468
Regulated entity, other noncurrent assets 818897130  
Restricted cash and investments1111  
Other noncurrent assets2,3812,3942,7562,3762,1001,337
Other undisclosed noncurrent assets6,3315,8626,0136,745  
Total noncurrent assets:82,41082,61684,40089,00893,35394,386
TOTAL ASSETS:90,33990,51393,39499,830101,450103,461
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities5,6185,9976,3665,6085,0345,283
Interest and dividends payable264268358384408
Taxes payable136541   
Accounts payable4,6274,8484,7534,3044,0034,153
Accrued liabilities991749804946647722
Debt6388377542361,028398
Disposal group, including discontinued operation    17955
Other liabilities1,7812,1941,9442,2001,8041,767
Total current liabilities:8,0379,0289,0648,0617,8757,503
Noncurrent Liabilities
Long-term debt and lease obligation, including:19,39419,23321,06128,07028,21630,770
Finance lease, liability 1189398 158
Other undisclosed long-term debt and lease obligation19,27619,14020,47928,07027,60430,770
Liabilities, other than long-term debt13,18613,38213,81713,45613,6101,208
Deferred revenue1,4241,4771,534  
Deferred income tax liabilities10,20110,15210,53611,46211,878
Liability, pension and other postretirement and postemployment benefits143144205243273306
Other liabilities1,4181,6091,5421,7511,459902
Operating lease, liability   484 454
Other undisclosed noncurrent liabilities      12,202
Total noncurrent liabilities:32,58032,61534,87841,52641,82644,180
Total liabilities:40,61741,64343,94249,58749,70151,683
Temporary equity, carrying amount34404  3
Equity
Equity, attributable to parent49,52648,67849,29850,10351,62351,657
Common stock121212121212
Treasury stock, value(1,286)(847)(587)(344)(271)(282)
Additional paid in capital52,03751,83453,37955,09656,82858,723
Accumulated other comprehensive loss(2,604)(2,810)(1,824)(1,967)(1,886)(1,943)
Retained earnings (accumulated deficit)1,367489(1,682)(2,694)(3,060)(4,853)
Equity, attributable to noncontrolling interest162152150140126118
Total equity:49,68848,83049,44850,24351,74951,775
TOTAL LIABILITIES AND EQUITY:90,33990,51393,39499,830101,450103,461

Income Statement (P&L) ($ in millions)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues26,64026,48526,04226,18524,97726,268
Cost of revenue
(Cost of Goods and Services Sold)
(17,714)(18,363)(17,360)(17,008)(16,830)(17,347)
Gross profit:8,9268,1228,6829,1778,1478,921
Operating expenses(4,354)(4,488)(5,222)(7,049)(5,077)(19,141)
Operating income (loss):4,5723,6343,4602,1283,070(10,220)
Nonoperating income (expense)(27)253295296952183
Investment income, nonoperating     456 
Net periodic defined benefits expense (reversal of expense), excluding service cost component     172 
Other nonoperating income (expense)(27)253295296 183
Interest and debt expense(912)(921)(2,047)(1,394)(1,361)(1,284)
Income (loss) from continuing operations before income taxes:3,6332,9661,7081,0302,661(11,321)
Income tax expense (benefit)(787)(598)(684)(669)(728)1,067
Income (loss) from continuing operations:2,8462,3681,0243611,933(10,254)
Income (loss) before gain (loss) on sale of properties:1,0243611,933(10,254)
Net income (loss):2,8462,3681,0243611,933(10,254)
Net income (loss) attributable to noncontrolling interest9(5)(12)(5)262
Net income (loss) available to common stockholders, diluted:2,8552,3631,0123561,935(10,192)

Comprehensive Income ($ in millions)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income (loss):2,8462,3681,0243611,933(10,254)
Other comprehensive income (loss)208(993)149(78)(72)(903)
Comprehensive income (loss):3,0541,3751,1732831,861(11,157)
Comprehensive income (loss), net of tax, attributable to noncontrolling interest72(18)(8)(5)76
Comprehensive income (loss), net of tax, attributable to parent:3,0611,3771,1552751,856(11,081)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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