Stock Analysis on Net
Stock Analysis on Net

Kraft Foods Group Inc. (NASDAQ:KRFT)

$22.49

This company has been moved to the archive! The financial data has not been updated since April 28, 2015.

Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

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Kraft Foods Group Inc., consolidated income statement

US$ in millions

Microsoft Excel
12 months ended: Dec 27, 2014 Dec 28, 2013 Dec 29, 2012
Net revenues
Cost of sales
Gross profit
Selling, general and administrative expenses
Asset impairment and exit costs
Operating income
Interest and other expense, net
Royalty income from Mondelēz International
Earnings before income taxes
Provision for income taxes
Net earnings

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

Net Revenues
Net revenues remained relatively stable over the period, showing a slight decline from 18,339 million USD in 2012 to 18,205 million USD in 2014. The change indicates a flat revenue trend without significant growth or contraction.
Cost of Sales
The cost of sales exhibited volatility. It decreased from 12,499 million USD in 2012 to 11,395 million USD in 2013, then increased sharply to 13,360 million USD in 2014. This fluctuation affected gross profit margins negatively in the final year.
Gross Profit
Gross profit rose noticeably from 5,840 million USD in 2012 to 6,823 million USD in 2013, reflecting improved operational efficiency or pricing power. However, it declined markedly to 4,845 million USD in 2014, impacted by higher cost of sales despite stable revenues.
Selling, General and Administrative Expenses (SG&A)
SG&A expenses showed inconsistency, decreasing significantly from 3,029 million USD in 2012 to 2,124 million USD in 2013, but then rising again to 2,956 million USD in 2014. This pattern suggests variability in management or restructuring efforts affecting overhead costs.
Asset Impairment and Exit Costs
Asset impairment and exit costs were negative in 2012 and 2013, implying expenses related to asset write-downs or business exits. A transition to a positive figure of 1 million USD in 2014 indicates either recovery or minimal associated costs that year.
Operating Income
Operating income nearly doubled from 2,670 million USD in 2012 to a peak of 4,591 million USD in 2013, demonstrating strong operational performance. However, it dropped significantly to 1,890 million USD in 2014, correlating with reduced gross profit and increased costs.
Interest and Other Expense, Net
Net interest and other expenses increased from a cost of 258 million USD in 2012 to 501 million USD in 2013, before slightly improving to 484 million USD in 2014. The rise in financing costs between 2012 and 2013 may have contributed to profit compression.
Royalty Income from Mondelēz International
Royalty income was reported only in 2012 at 41 million USD and was absent in subsequent years, suggesting a discontinuation or reclassification of related revenue streams.
Earnings Before Income Taxes (EBIT)
EBIT closely followed operating income trends, increasing sharply from 2,453 million USD in 2012 to 4,090 million USD in 2013 before plunging to 1,406 million USD in 2014. This reflects the operational and expense volatility during the period.
Provision for Income Taxes
The income tax provision increased from 811 million USD in 2012 to 1,375 million USD in 2013, then decreased substantially to 363 million USD in 2014. The lower tax expense in 2014 aligns with reduced pre-tax earnings.
Net Earnings
Net earnings followed a similar trajectory as pre-tax earnings, rising from 1,642 million USD in 2012 to 2,715 million USD in 2013, reflecting enhanced profitability. However, net earnings fell significantly to 1,043 million USD in 2014, indicating a notable weakening in profitability during the last reported year.