Kraft Heinz Co
For the period ended Dec 30, 2023. Filed Feb 15, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Feb 15, 2024
KHC$24.24-0.7%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
| December 30, 2023 | December 31, 2022 | December 25, 2021 | |
|---|---|---|---|
| CASH FLOWS FROM OPERATING ACTIVITIES: | |||
| Net income/(loss) | $2,846 | $2,368 | $1,024 |
| Adjustments to reconcile net income/(loss) to operating cash flows: | |||
| Depreciation and amortization | 961 | 933 | 910 |
| Amortization of postemployment benefit plans prior service costs/(credits) | (14) | (14) | (7) |
| Divestiture-related license income | (54) | (56) | (4) |
| Equity award compensation expense | 141 | 148 | 197 |
| Deferred income tax provision/(benefit) | 17 | (278) | (1,042) |
| Postemployment benefit plan contributions | (22) | (23) | (27) |
| Goodwill and intangible asset impairment losses | 662 | 913 | 1,634 |
| Nonmonetary currency devaluation | 28 | 17 | — |
| Loss/(gain) on sale of business | (4) | (25) | (44) |
| Proceeds from sale of license | — | — | 1,587 |
| Loss/(gain) on extinguishment of debt | — | (38) | 917 |
| Other items, net | 221 | 7 | (187) |
| Changes in current assets and liabilities: | |||
| Trade receivables | 18 | (228) | 87 |
| Inventories | (106) | (1,121) | (144) |
| Accounts payable | (295) | 152 | 408 |
| Other current assets | 139 | (314) | (32) |
| Other current liabilities | (562) | 28 | 87 |
| Net cash provided by/(used for) operating activities | 3,976 | 2,469 | 5,364 |
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||
| Capital expenditures | (1,013) | (916) | (905) |
| Payments to acquire business, net of cash acquired | — | (481) | (74) |
| Settlement of net investment hedges | 31 | 208 | (28) |
| Proceeds from sale of business, net of cash disposed and working capital adjustments | — | 88 | 5,014 |
| Other investing activities, net | 66 | 10 | 31 |
| Net cash provided by/(used for) investing activities | (916) | (1,091) | 4,038 |
| CASH FLOWS FROM FINANCING ACTIVITIES: | |||
| Repayments of long-term debt | (848) | (1,465) | (6,202) |
| Proceeds from issuance of long-term debt | 657 | — | — |
| Debt prepayment and extinguishment benefit/(costs) | — | 10 | (924) |
| Proceeds from issuance of commercial paper | 150 | 228 | — |
| Repayments of commercial paper | (150) | (228) | — |
| Dividends paid | (1,965) | (1,960) | (1,959) |
| Repurchases of common stock | (455) | (280) | (271) |
| Other financing activities, net | (67) | (19) | 12 |
| Net cash provided by/(used for) financing activities | (2,678) | (3,714) | (9,344) |
| Effect of exchange rate changes on cash, cash equivalents, and restricted cash | (19) | (69) | (30) |
| Cash, cash equivalents, and restricted cash | |||
| Net increase/(decrease) | 363 | (2,405) | 28 |
| Balance at beginning of period | 1,041 | 3,446 | 3,418 |
| Balance at end of period | $1,404 | $1,041 | $3,446 |
| CASH PAID DURING THE PERIOD FOR: | |||
| Interest | $896 | $937 | $1,196 |
| Income taxes, net of refunds | 932 | 1,260 | 1,295 |
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