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Supplemental Guarantor Information (Tables)
 3 Months Ended
Mar. 28, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Condensed Consolidating Statements of Income
The Kraft Heinz Company
Condensed Consolidating Statements of Income
For the Three Months Ended March 28, 2020
(in millions)
(Unaudited)
Parent GuarantorSubsidiary IssuerNon-Guarantor SubsidiariesEliminationsConsolidated
Net sales$—  $4,227  $2,036  $(106) $6,157  
Cost of products sold—  2,911  1,494  (106) 4,299  
Gross profit—  1,316  542  —  1,858  
Selling, general and administrative expenses, excluding impairment losses—  239  623  —  862  
Goodwill impairment losses—  —  226  —  226  
Selling, general and administrative expenses—  239  849  —  1,088  
Intercompany service fees and other recharges—  729  (729) —  —  
Operating income/(loss)—  348  422  —  770  
Interest expense—  291  19  —  310  
Other expense/(income)—  (91) 10  —  (81) 
Income/(loss) before income taxes—  148  393  —  541  
Provision for/(benefit from) income taxes—  28  132  —  160  
Equity in earnings/(losses) of subsidiaries378  258  —  (636) —  
Net income/(loss)378  378  261  (636) 381  
Net income/(loss) attributable to noncontrolling interest—  —  3  —  3  
Net income/(loss) excluding noncontrolling interest$378  $378  $258  $(636) $378  
Comprehensive income/(loss) excluding noncontrolling interest$(162) $(162) $(372) $534  $(162) 
The Kraft Heinz Company
Condensed Consolidating Statements of Income
For the Three Months Ended March 30, 2019
(in millions)
(Unaudited)
Parent GuarantorSubsidiary IssuerNon-Guarantor SubsidiariesEliminationsConsolidated
Net sales$—  $4,004  $2,066  $(111) $5,959  
Cost of products sold—  2,572  1,487  (111) 3,948  
Gross profit—  1,432  579  —  2,011  
Selling, general and administrative expenses, excluding impairment losses—  221  608  —  829  
Goodwill impairment losses—  —  620  —  620  
Selling, general and administrative expenses—  221  1,228  —  1,449  
Intercompany service fees and other recharges—  841  (841) —  —  
Operating income/(loss)—  370  192  —  562  
Interest expense—  300  21  —  321  
Other expense/(income)—  8  (388) —  (380) 
Income/(loss) before income taxes—  62  559  —  621  
Provision for/(benefit from) income taxes—  36  181  —  217  
Equity in earnings/(losses) of subsidiaries405  379  —  (784) —  
Net income/(loss)405  405  378  (784) 404  
Net income/(loss) attributable to noncontrolling interest—  —  (1) —  (1) 
Net income/(loss) excluding noncontrolling interest$405  $405  $379  $(784) $405  
Comprehensive income/(loss) excluding noncontrolling interest$528  $528  $528  $(1,056) $528  
Condensed Consolidating Balance Sheets
The Kraft Heinz Company
Condensed Consolidating Balance Sheets
As of March 28, 2020
(in millions)
(Unaudited)
Parent GuarantorSubsidiary IssuerNon-Guarantor SubsidiariesEliminationsConsolidated
ASSETS
Cash and cash equivalents$—  $4,605  $798  $—  $5,403  
Trade receivables, net—  1,146  1,175  —  2,321  
Receivables due from affiliates—  296  290  (586) —  
Inventories—  1,901  930  —  2,831  
Short-term lending due from affiliates—  1,432  4,487  (5,919) —  
Prepaid expenses—  321  164  —  485  
Other current assets—  895  289  (649) 535  
Assets held for sale—  13  120  —  133  
Total current assets—  10,609  8,253  (7,154) 11,708  
Property, plant and equipment, net—  4,353  2,460  —  6,813  
Goodwill—  11,067  23,995  —  35,062  
Investments in subsidiaries51,009  66,007  —  (117,016) —  
Intangible assets, net—  2,826  45,433  —  48,259  
Long-term lending due from affiliates—  207  2,000  (2,207) —  
Other non-current assets—  950  1,281  —  2,231  
TOTAL ASSETS$51,009  $96,019  $83,422  $(126,377) $104,073  
LIABILITIES AND EQUITY
Commercial paper and other short-term debt$—  $5  $1  $—  $6  
Current portion of long-term debt—  870  372  —  1,242  
Short-term lending due to affiliates—  4,487  1,432  (5,919) —  
Trade payables—  2,453  1,503  —  3,956  
Payables due to affiliates—  290  296  (586) —  
Accrued marketing—  240  441  —  681  
Interest payable—  370  4  —  374  
Other current liabilities—  1,507  806  (649) 1,664  
Liabilities held for sale—  1  10  —  11  
Total current liabilities—  10,223  4,865  (7,154) 7,934  
Long-term debt—  31,229  302  —  31,531  
Long-term borrowings due to affiliates—  2,000  207  (2,207) —  
Deferred income taxes—  1,373  10,466  —  11,839  
Accrued postemployment costs—  28  222  —  250  
Other non-current liabilities—  157  1,238  —  1,395  
TOTAL LIABILITIES—  45,010  17,300  (9,361) 52,949  
Redeemable noncontrolling interest—  —  —  —  —  
Total shareholders’ equity51,009  51,009  66,007  (117,016) 51,009  
Noncontrolling interest—  —  115  —  115  
TOTAL EQUITY51,009  51,009  66,122  (117,016) 51,124  
TOTAL LIABILITIES AND EQUITY$51,009  $96,019  $83,422  $(126,377) $104,073  
The Kraft Heinz Company
Condensed Consolidating Balance Sheets
As of December 28, 2019
(in millions)
(Unaudited)
Parent GuarantorSubsidiary IssuerNon-Guarantor SubsidiariesEliminationsConsolidated
ASSETS
Cash and cash equivalents$—  $1,404  $875  $—  $2,279  
Trade receivables, net—  836  1,137  —  1,973  
Receivables due from affiliates—  633  793  (1,426) —  
Inventories—  1,832  889  —  2,721  
Short-term lending due from affiliates—  1,399  4,645  (6,044) —  
Prepaid expenses—  193  191  —  384  
Other current assets—  983  336  (701) 618  
Assets held for sale—  13  109  —  122  
Total current assets—  7,293  8,975  (8,171) 8,097  
Property, plant and equipment, net—  4,420  2,635  —  7,055  
Goodwill—  11,066  24,480  —  35,546  
Investments in subsidiaries51,623  66,492  —  (118,115) —  
Intangible assets, net—  2,860  45,792  —  48,652  
Long-term lending due from affiliates—  207  2,000  (2,207) —  
Other non-current assets—  850  1,250  —  2,100  
TOTAL ASSETS$51,623  $93,188  $85,132  $(128,493) $101,450  
LIABILITIES AND EQUITY
Commercial paper and other short-term debt$—  $5  $1  $—  $6  
Current portion of long-term debt—  626  396  —  1,022  
Short-term lending due to affiliates—  4,645  1,399  (6,044) —  
Trade payables—  2,445  1,558  —  4,003  
Payables due to affiliates—  793  633  (1,426) —  
Accrued marketing—  249  398  —  647  
Interest payable—  372  12  —  384  
Other current liabilities—  266  2,239  (701) 1,804  
Liabilities held for sale—  —  9  —  9  
Total current liabilities—  9,401  6,645  (8,171) 7,875  
Long-term debt—  27,912  304  —  28,216  
Long-term borrowings due to affiliates—  2,000  207  (2,207) —  
Deferred income taxes—  1,307  10,571  —  11,878  
Accrued postemployment costs—  34  239  —  273  
Other non-current liabilities—  911  548  —  1,459  
TOTAL LIABILITIES—  41,565  18,514  (10,378) 49,701  
Redeemable noncontrolling interest—  —  —  —  —  
Total shareholders’ equity51,623  51,623  66,492  (118,115) 51,623  
Noncontrolling interest—  —  126  —  126  
TOTAL EQUITY51,623  51,623  66,618  (118,115) 51,749  
TOTAL LIABILITIES AND EQUITY$51,623  $93,188  $85,132  $(128,493) $101,450  
Condensed Consolidating Statements of Cash Flows
The Kraft Heinz Company
Condensed Consolidating Statements of Cash Flows
For the Three Months Ended March 28, 2020
(in millions)
(Unaudited)
Parent GuarantorSubsidiary IssuerNon-Guarantor SubsidiariesEliminationsConsolidated
CASH FLOWS FROM OPERATING ACTIVITIES
Net cash provided by/(used for) operating activities$488  $(19) $231  $(488) $212  
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures—  (61) (70) —  (131) 
Net proceeds from/(payments on) intercompany lending activities—  352  198  (550) —  
Additional investments in subsidiaries(11) 12  —  (1) —  
Other investing activities, net—  7  2  —  9  
Net cash provided by/(used for) investing activities(11) 310  130  (551) (122) 
CASH FLOWS FROM FINANCING ACTIVITIES
Repayments of long-term debt—  (406) (1) —  (407) 
Proceeds from revolving credit facility—  4,000  —  —  4,000  
Net proceeds from/(payments on) intercompany borrowing activities—  (198) (352) 550  —  
Dividends paid(488) (488) —  488  (488) 
Other intercompany capital stock transactions—  11  (12) 1  —  
Other financing activities, net11  (9) (2) —  —  
Net cash provided by/(used for) financing activities(477) 2,910  (367) 1,039  3,105  
Effect of exchange rate changes on cash, cash equivalents, and restricted cash—  —  (71) —  (71) 
Cash, cash equivalents, and restricted cash:
Net increase/(decrease)—  3,201  (77) —  3,124  
Balance at beginning of period—  1,404  876  —  2,280  
Balance at end of period$—  $4,605  $799  $—  $5,404  
The Kraft Heinz Company
Condensed Consolidating Statements of Cash Flows
For the Three Months Ended March 30, 2019
(in millions)
(Unaudited)
Parent GuarantorSubsidiary IssuerNon-Guarantor SubsidiariesEliminationsConsolidated
CASH FLOWS FROM OPERATING ACTIVITIES
Net cash provided by/(used for) operating activities$488  $270  $34  $(488) $304  
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures—  (113) (136) —  (249) 
Payments to acquire business, net of cash acquired—  (202) 2  —  (200) 
Net proceeds from/(payments on) intercompany lending activities—  720  22  (742) —  
Additional investments in subsidiaries—  (29) —  29  —  
Proceeds from sale of business, net of cash disposed—  —  640  —  640  
Other investing activities, net—  4  (18) —  (14) 
Net cash provided by/(used for) investing activities—  380  510  (713) 177  
CASH FLOWS FROM FINANCING ACTIVITIES
Repayments of long-term debt—  —  (1) —  (1) 
Proceeds from issuance of commercial paper—  377  —  —  377  
Repayments of commercial paper—  (377) —  —  (377) 
Net proceeds from/(payments on) intercompany borrowing activities—  (22) (720) 742  —  
Dividends paid(488) (488) —  488  (488) 
Other intercompany capital stock transactions—  —  29  (29) —  
Other financing activities, net—  7  (22) —  (15) 
Net cash provided by/(used for) financing activities(488) (503) (714) 1,201  (504) 
Effect of exchange rate changes on cash, cash equivalents, and restricted cash—  —  (11) —  (11) 
Cash, cash equivalents, and restricted cash:
Net increase/(decrease)—  147  (181) —  (34) 
Balance at beginning of period—  202  934  —  1,136  
Balance at end of period$—  $349  $753  $—  $1,102  
Reconciliation from Cash and Cash Equivalents to Cash, Cash Equivalents, and Restricted Cash
The following tables provide a reconciliation of cash and cash equivalents, as reported on our condensed consolidating balance sheets, to cash, cash equivalents, and restricted cash, as reported on our condensed consolidating statements of cash flows (in millions):
March 28, 2020
Parent GuarantorSubsidiary IssuerNon-Guarantor SubsidiariesEliminationsConsolidated
Cash and cash equivalents$—  $4,605  $798  $—  $5,403  
Restricted cash included in other current assets—  —  1  —  1  
Cash, cash equivalents, and restricted cash$—  $4,605  $799  $—  $5,404  

December 28, 2019
Parent GuarantorSubsidiary IssuerNon-Guarantor SubsidiariesEliminationsConsolidated
Cash and cash equivalents$—  $1,404  $875  $—  $2,279  
Restricted cash included in other current assets—  —  1  —  1  
Cash, cash equivalents, and restricted cash$—  $1,404  $876  $—  $2,280