Stock Analysis on Net
Stock Analysis on Net

Kraft Heinz Co. (NASDAQ:KHC)

This company has been moved to the archive! The financial data has not been updated since July 31, 2020.

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity

Kraft Heinz Co., common-size consolidated balance sheet: liabilities and stockholders’ equity

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Dec 28, 2019 Dec 29, 2018 Dec 30, 2017 Dec 31, 2016 Dec 31, 2015
Commercial paper and other short-term debt 0.01 0.02 0.38 0.54 0.00
Current portion of long-term debt 1.01 0.36 2.28 1.70 0.06
Trade payables 3.95 4.01 3.70 3.32 2.31
Accrued marketing 0.64 0.70 0.57 0.62 0.70
Interest payable 0.38 0.39 0.35 0.34 0.33
Other current liabilities 1.78 1.71 1.15 1.37 2.23
Liabilities held for sale 0.01 0.05 0.00 0.00 0.00
Current liabilities 7.76% 7.25% 8.43% 7.89% 5.64%
Long-term debt, excluding current portion 27.81 29.74 23.57 24.66 20.45
Deferred income taxes 11.71 11.79 11.71 17.30 17.48
Accrued postemployment costs 0.27 0.30 0.36 1.69 1.96
Other non-current liabilities 1.44 0.87 0.85 0.67 0.61
Non-current liabilities 41.23% 42.70% 36.47% 44.33% 40.50%
Total liabilities 48.99% 49.95% 44.90% 52.21% 46.14%
Redeemable noncontrolling interest 0.00 0.00 0.00 0.00 0.02
9.00% cumulative compounding preferred stock, Series A, $0.01 par value 0.00 0.00 0.00 0.00 6.77
Common stock, $0.01 par value 0.01 0.01 0.01 0.01 0.01
Additional paid-in capital 56.02 56.76 48.83 48.63 47.47
Retained earnings (deficit) -3.02 -4.69 7.14 0.49 0.00
Accumulated other comprehensive losses -1.86 -1.88 -0.88 -1.35 -0.55
Treasury stock, at cost -0.27 -0.27 -0.19 -0.17 -0.03
Shareholders’ equity 50.89% 49.93% 54.92% 47.61% 46.91%
Noncontrolling interest 0.12 0.11 0.17 0.18 0.17
Total equity 51.01% 50.04% 55.09% 47.79% 47.08%
Total liabilities and equity 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-K (reporting date: 2019-12-28), 10-K (reporting date: 2018-12-29), 10-K (reporting date: 2017-12-30), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).

The capital structure exhibits a relatively stable distribution between total liabilities and total equity, with liabilities fluctuating between 44.90% and 52.21% of the total balance sheet from 2015 to 2019. While the overall leverage remained consistent, the internal composition of both liabilities and equity underwent significant shifts, most notably a transition toward higher long-term debt and a shift in retained earnings from a positive balance to a deficit.

Liability Structure and Debt Trends
A notable upward trend is observed in long-term debt, excluding the current portion, which rose from 20.45% in 2015 to 27.81% in 2019, peaking at 29.74% in 2018. Current liabilities also increased from 5.64% to 7.76% over the period, primarily driven by a steady rise in trade payables, which grew from 2.31% to 3.95%. Conversely, deferred income taxes decreased significantly from 17.48% in 2015 to 11.71% in 2019, and accrued postemployment costs fell sharply from 1.96% to 0.27%.
Equity Composition and Retained Earnings
Additional paid-in capital demonstrated consistent growth, increasing from 47.47% in 2015 to 56.02% in 2019, suggesting a reliance on contributed capital to maintain equity levels. This was offset by a volatile trend in retained earnings; after peaking at 7.14% in 2017, the account shifted to a deficit of -4.69% in 2018 and -3.02% in 2019. Accumulated other comprehensive losses also expanded, moving from -0.55% in 2015 to -1.86% in 2019.
Overall Solvency and Obligations
Total equity remained resilient, ending the period at 51.01%, compared to 47.08% in 2015, despite the emergence of the retained earnings deficit. Short-term financing via commercial paper and other short-term debt remained negligible throughout the period, peaking at only 0.54% in 2016 before dropping to 0.01% by 2019, indicating a preference for long-term debt over short-term commercial paper for funding requirements.

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