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Microsoft Excel LibreOffice Calc

Kraft Heinz Co. (KHC)

Analysis of Revenues

Advanced level

Accounting Policy on Revenue Recognition

Kraft Heinz’s revenues are primarily derived from customer orders for the purchase of the products. Kraft Heinz recognizes revenues as performance obligations are fulfilled when control passes to the customers. Kraft Heinz records revenues net of variable consideration, including consumer incentives and performance obligations related to trade promotions, excluding taxes, and including all shipping and handling charges billed to customers (accounting for shipping and handling charges that occur after the transfer of control as fulfillment costs). Kraft Heinz also records a refund liability for estimated product returns and customer allowances as reductions to revenues within the same period that the revenue is recognized. Kraft Heinz bases these estimates principally on historical and current period experience factors. Kraft Heinz recognizes costs paid to third party brokers to obtain contracts as expenses as the contracts are generally less than one year.

Source: 10-K (filing date: 2019-06-07).

Revenues as Reported

Kraft Heinz Co., Income Statement, Revenues

US$ in millions

Microsoft Excel LibreOffice Calc
12 months ended Dec 29, 2018 Dec 30, 2017 Dec 31, 2016 Dec 31, 2015
Condiments and sauces
Cheese and dairy
Ambient meals
Frozen and chilled foods
Meats and seafood
Refreshment beverages
Infant and nutrition
Desserts, toppings and baking
Nuts and salted snacks
Net sales

Based on: 10-K (filing date: 2019-06-07), 10-K (filing date: 2018-02-16), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-03-03).

Item Description The company
Net sales Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Kraft Heinz Co.’s net sales decreased from 2016 to 2017 but then slightly increased from 2017 to 2018.