Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

Kraft Foods Group Inc., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

US$ in millions

	Mar 28, 2015	Dec 27, 2014	Sep 27, 2014	Jun 28, 2014	Mar 29, 2014	Dec 28, 2013	Sep 28, 2013	Jun 29, 2013	Mar 30, 2013	Dec 29, 2012	Sep 30, 2012	Jun 30, 2012	Mar 31, 2012
Current portion of long-term debt	1,406)	1,405)	1,404)	1,404)	—)	4)	4)	3)	3)	5)	6)	7)	8)
Accounts payable	1,629)	1,537)	1,561)	1,606)	1,598)	1,548)	1,460)	1,444)	1,463)	1,556)	1,510)	1,336)	1,350)
Accrued marketing	500)	511)	385)	577)	575)	685)	583)	621)	626)	740)	458)	411)	483)
Accrued employment costs	84)	163)	135)	143)	87)	184)	156)	141)	97)	194)	178)	143)	98)
Dividends payable	326)	324)	—)	313)	313)	313)	—)	—)	—)	—)	—)	—)	—)
Accrued postretirement health care costs	191)	192)	196)	196)	196)	197)	—)	—)	—)	—)	—)	—)	—)
Other current liabilities	748)	641)	610)	557)	765)	479)	696)	1,073)	1,178)	1,111)	417)	700)	541)
Current liabilities	4,884)	4,773)	4,291)	4,796)	3,534)	3,410)	2,899)	3,282)	3,367)	3,606)	2,569)	2,597)	2,480)
Long-term debt, excluding current portion	8,626)	8,627)	8,615)	8,604)	9,998)	9,976)	9,975)	9,967)	9,966)	9,966)	9,568)	5,988)	26)
Deferred income taxes	292)	340)	656)	653)	644)	662)	678)	521)	296)	288)	2,047)	1,620)	1,608)
Accrued pension costs	1,100)	1,105)	317)	414)	410)	405)	780)	1,055)	1,947)	1,990)	105)	103)	110)
Accrued postretirement health care costs	3,380)	3,399)	3,024)	3,039)	3,070)	3,080)	3,506)	3,501)	3,504)	3,502)	—)	—)	—)
Other liabilities	335)	338)	315)	376)	398)	428)	435)	438)	445)	405)	537)	623)	596)
Noncurrent liabilities	13,733)	13,809)	12,927)	13,086)	14,520)	14,551)	15,374)	15,482)	16,158)	16,151)	12,257)	8,334)	2,340)
Total liabilities	18,617)	18,582)	17,218)	17,882)	18,054)	17,961)	18,273)	18,764)	19,525)	19,757)	14,826)	10,931)	4,820)
Common stock, no par value	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Additional paid-in capital	4,820)	4,678)	4,628)	4,587)	4,516)	4,434)	4,390)	4,354)	4,291)	4,240)	—)	—)	—)
Parent company investment	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	7,918)	11,473)	17,582)
Retained earnings (deficit)	1,148)	1,045)	2,094)	1,648)	1,481)	1,281)	980)	481)	(48)	(206)	—)	—)	—)
Accumulated other comprehensive losses	(634)	(562)	(561)	(483)	(518)	(499)	(489)	(509)	(477)	(460)	(460)	(515)	(307)
Treasury stock, at cost	(817)	(796)	(576)	(289)	(172)	(29)	(28)	(26)	(24)	(2)	—)	—)	—)
Equity	4,517)	4,365)	5,585)	5,463)	5,307)	5,187)	4,853)	4,300)	3,742)	3,572)	7,458)	10,958)	17,275)
Total liabilities and equity	23,134)	22,947)	22,803)	23,345)	23,361)	23,148)	23,126)	23,064)	23,267)	23,329)	22,284)	21,889)	22,095)

Based on: 10-Q (reporting date: 2015-03-28), 10-K (reporting date: 2014-12-27), 10-Q (reporting date: 2014-09-27), 10-Q (reporting date: 2014-06-28), 10-Q (reporting date: 2014-03-29), 10-K (reporting date: 2013-12-28), 10-Q (reporting date: 2013-09-28), 10-Q (reporting date: 2013-06-29), 10-Q (reporting date: 2013-03-30), 10-K (reporting date: 2012-12-29), 10-Q (reporting date: 2012-09-30), 10-12B/A (reporting date: 2012-06-30), 10-12B/A (reporting date: 2012-03-31).

Current portion of long-term debt: Initially decreasing steadily from 8 million to 3 million through March to June 2013, this liability remained relatively low and stable until early 2014, then abruptly spiked dramatically to over 1.4 billion from the second quarter of 2014 onwards, indicating a major refinancing or reclassification event during this period.
Accounts payable: Accounts payable showed fluctuations but an overall upward trend, rising from 1,350 million in early 2012 to 1,629 million by March 2015, with some volatility along the way, suggesting increasing obligations to suppliers or changes in purchasing patterns.
Accrued marketing: This item experienced variability, peaking notably at 740 million at the end of 2012, followed by a decline and then a partial recovery, ending at 500 million in March 2015. The trend reflects varying marketing spending commitments across quarters.
Accrued employment costs: Employment-related accruals showed a cyclical pattern with peaks in the fourth quarters and troughs in the first quarters, ranging between 84 and 194 million. This may reflect seasonality in payroll or bonuses.
Dividends payable: Dividends payable first appeared late in 2013 at 313 million and remained stable before a minor uptick to 326 million by early 2015, showing consistent dividend payment obligations.
Accrued postretirement health care costs (current portion): Allocated only in late 2013 and early 2014, this liability stayed stable around 190-197 million, indicating steady expected near-term postretirement healthcare obligations.
Other current liabilities: These liabilities displayed considerable volatility throughout the period, peaking sharply at 1,111 million at the end of 2012 and bottoming near 479 million at the end of 2013, suggesting significant fluctuations in miscellaneous current obligations.
Current liabilities (total): Current liabilities overall increased from 2,480 million in early 2012 to a peak of nearly 4,800 million in mid-2014, with substantial increases noted especially in 2014 that coincide with the spike in current portion of long-term debt.
Long-term debt, excluding current portion: A large and relatively stable long-term debt balance persisted through the period, fluctuating around 9,966 to 9,998 million until late 2013, then decreasing to approximately 8,600 million from early 2014 onwards, indicating partial repayment or restructuring of long-term obligations.
Deferred income taxes: Deferred tax liabilities varied widely, with a significant drop from over 2,000 million in late 2012 to around 300 million by early 2015, indicating possible tax planning, asset revaluation, or changes in tax positions.
Accrued pension costs: These costs peaked dramatically at 1,990 million at the end of 2012, then decreased sharply through 2013, before another increase through late 2014 and early 2015 to around 1,100 million, showing volatility likely driven by actuarial assumptions or pension funding changes.
Accrued postretirement health care costs (noncurrent): Noncurrent postretirement health care liabilities remained high throughout, declining somewhat from 3,502 million at the end of 2012 to about 3,380 million in early 2015, indicating ongoing substantial future healthcare obligations with slight net reductions.
Other liabilities and Noncurrent liabilities: Other liabilities remained relatively steady, slightly declining over time, while total noncurrent liabilities surged from 2,340 million in early 2012 to over 16,000 million by late 2012, then gradually decreased to about 13,700 million by early 2015, mirroring changes in long-term debt and pension/postretirement obligations.
Total liabilities: Total liabilities increased significantly from 4,820 million in early 2012 to almost 20,000 million by the end of 2012, then gradually declined to around 18,600 million in early 2015, indicating a period of increased borrowing or accruals followed by partial deleveraging.
Equity accounts: Additional paid-in capital showed consistent incremental increases, reflecting possible equity infusions or capital transactions. Retained earnings moved from negative territory in early 2013 to positive and growing levels near 1,148 million by early 2015, illustrating improved accumulated profitability. Accumulated other comprehensive losses showed a growing negative balance, indicating expanding unrealized losses or actuarial losses. Treasury stock increased significantly in cost terms from negligible early values to over 800 million by early 2015, representing substantial share repurchases. Overall equity declined sharply between late 2014 and early 2015, corresponding to the rise in treasury stock and reduction in retained earnings.
Total liabilities and equity: The total balance of liabilities and equity remained relatively stable between approximately 22,000 and 23,300 million across the entire period, indicating the company's total capitalization and financing structure was largely maintained despite internal shifts between debt, liabilities, and equity components.

Download chart

Kraft Foods Group Inc. (NASDAQ:KRFT)

Balance Sheet: Liabilities and Stockholders’ Equity Quarterly Data

Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data