Equity method investments (Tables)

3 Months Ended

Mar. 31, 2020

Equity Method Investments And Joint Ventures [Abstract]

Summarized unaudited financial information of Kraft Heinz

As of March 31, 2020, the carrying value of our investment in Kraft Heinz exceeded the fair value based on the quoted market price by $5.5 billion (40.4%). In light of that fact, we evaluated our investment in Kraft Heinz for impairment. We utilize no bright-line tests in such evaluations. Based on the available facts and information regarding the operating results of Kraft Heinz, our ability and intent to hold the investment until recovery, the relative amount of the decline, and the length of time that fair value was less than carrying value, we concluded that recognition of an impairment loss in earnings was not required. However, we will continue to monitor this investment and it is possible that an impairment loss will be recorded in earnings in future periods based on changes in facts and circumstances or intentions.

Summarized consolidated financial information of Kraft Heinz follows (in millions).

	March 28, 2020		December 28, 2019
Assets	$	104,073	$	101,450
Liabilities		52,949		49,701

	First Quarter
	2020		2019
Sales	$	6,157	$	5,959
Net earnings attributable to Kraft Heinz common shareholders		378		405