Kraft Foods Group Inc., balance sheet: debt

US$ in millions

	Dec 27, 2014	Dec 28, 2013	Dec 29, 2012
Current portion of long-term debt	1,405)	4)	5)
Long-term debt, excluding current portion	8,627)	9,976)	9,966)
Total debt (carrying amount)	10,032)	9,980)	9,971)

Based on: 10-K (reporting date: 2014-12-27), 10-K (reporting date: 2013-12-28), 10-K (reporting date: 2012-12-29).

The financial data over the three-year period reveals notable shifts in the composition and magnitude of debt obligations.

Current portion of long-term debt: The current portion of long-term debt remained relatively stable in 2012 and 2013, with values of 5 million and 4 million US dollars respectively. However, in 2014 there was a sharp increase to 1,405 million US dollars. This significant rise suggests a large portion of long-term debt matured or was reclassified as current in the final year, indicating increased near-term debt repayment obligations.
Long-term debt, excluding current portion: The long-term debt balance, excluding the current portion, showed minimal fluctuation between 2012 and 2013, holding steady around 9,966 million to 9,976 million US dollars. In 2014, this balance decreased to 8,627 million US dollars, indicating a reduction in longer-term liabilities. This decline may reflect repayments, refinancing, or reclassification of some debts into the current portion category.
Total debt (carrying amount): Total debt remained relatively consistent from 2012 to 2013, at approximately 9,971 and 9,980 million US dollars respectively. In 2014, there was a slight increase to 10,032 million US dollars. This overall stability in total debt, despite the shifts between current and long-term portions, implies that debt restructuring rather than significant new borrowing or repayment drove the changes in debt structure.

In summary, the data indicates a strategic reallocation of debt from long-term to current liabilities during the period, particularly evident in 2014. The total debt amount remained largely unchanged, suggesting refinancing activities or maturities rather than major changes in debt financing levels.

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	Dec 27, 2014
Selected Financial Data (US$ in millions)
Total debt (fair value)	11,000)
Financial Ratio
Debt, fair value to carrying amount ratio	1.10

Based on: 10-K (reporting date: 2014-12-27).

Weighted-average interest rate on debt: 4.62%

Interest rate	Debt amount¹	Interest rate × Debt amount
1.63%	1,000)	16)
7.55%	400)	30)
2.25%	1,000)	23)
6.13%	1,035)	63)
5.38%	900)	48)
3.50%	2,000)	70)
6.88%	878)	60)
6.50%	787)	51)
5.00%	2,000)	100)
Total	10,000)	462)
4.62%

Based on: 10-K (reporting date: 2014-12-27).

¹ US$ in millions

² Weighted-average interest rate = 100 × 462 ÷ 10,000 = 4.62%

Kraft Foods Group Inc. (NASDAQ:KRFT)

Analysis of Debt

Total Debt (Carrying Amount)

Total Debt (Fair Value)

Weighted-average Interest Rate on Debt