Name: Kraft Heinz Co. (NASDAQ:KHC) | Balance Sheet: Assets (Quarterly)
Creator: Stock Analysis on Net

Balance Sheet: Assets
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.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

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Kraft Heinz Co., consolidated balance sheet: assets (quarterly data)

US$ in millions

	Jun 27, 2020	Mar 28, 2020	Dec 28, 2019	Sep 28, 2019	Jun 29, 2019	Mar 30, 2019	Dec 29, 2018	Sep 29, 2018	Jun 30, 2018	Mar 31, 2018	Dec 30, 2017	Sep 30, 2017	Jul 1, 2017	Apr 1, 2017	Dec 31, 2016	Oct 2, 2016	Jul 3, 2016	Apr 3, 2016	Dec 31, 2015	Sep 27, 2015	Jun 28, 2015	Mar 29, 2015
Cash and cash equivalents	2,812)	5,403)	2,279)	2,315)	1,452)	1,096)	1,130)	1,366)	3,369)	1,794)	1,629)	1,441)	1,445)	3,242)	4,204)	3,920)	4,237)	4,199)	4,837)	4,437)	2,147)	1,899)
Trade receivables, net of allowances	2,045)	2,321)	1,973)	1,959)	2,049)	2,010)	2,129)	2,032)	1,950)	1,044)	921)	938)	913)	886)	769)	855)	1,114)	939)	871)	1,613)	795)	818)
Sold receivables	—)	—)	—)	—)	—)	—)	—)	—)	37)	530)	353)	427)	521)	588)	129)	208)	146)	805)	583)	—)	—)	—)
Inventories	2,815)	2,831)	2,721)	3,158)	3,074)	3,118)	2,667)	3,287)	3,161)	3,144)	2,815)	3,188)	3,065)	3,151)	2,684)	3,108)	2,881)	2,892)	2,618)	2,981)	1,162)	1,232)
Prepaid expenses	471)	485)	384)	415)	395)	384)	400)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Other current assets	504)	535)	618)	1,243)	1,163)	1,201)	1,373)	905)	984)	925)	1,548)	1,234)	1,164)	1,008)	967)	852)	969)	977)	871)	1,380)	485)	528)
Assets held for sale	129)	133)	122)	35)	1,035)	1,026)	1,376)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Current assets	8,776)	11,708)	8,097)	9,125)	9,168)	8,835)	9,075)	7,590)	9,501)	7,437)	7,266)	7,228)	7,108)	8,875)	8,753)	8,943)	9,347)	9,812)	9,780)	10,411)	4,589)	4,477)
Property, plant and equipment, net	6,777)	6,813)	7,055)	6,926)	7,023)	7,031)	7,078)	7,216)	7,258)	7,267)	7,120)	6,934)	6,808)	6,693)	6,688)	6,490)	6,423)	6,434)	6,524)	6,432)	2,253)	2,266)
Goodwill	33,310)	35,062)	35,546)	35,826)	35,989)	36,091)	36,503)	44,308)	44,270)	44,843)	44,824)	44,858)	44,565)	44,300)	44,125)	44,518)	44,641)	43,542)	43,051)	46,750)	14,741)	14,588)
Intangible assets, net	47,202)	48,259)	48,652)	48,714)	48,943)	49,553)	49,468)	58,727)	59,101)	59,600)	59,449)	59,500)	59,400)	59,330)	59,297)	59,620)	59,762)	62,049)	62,120)	56,693)	12,942)	12,777)
Other non-current assets	2,241)	2,231)	2,100)	2,231)	2,078)	2,052)	1,337)	1,889)	1,766)	1,640)	1,573)	1,531)	1,535)	1,604)	1,617)	1,509)	1,511)	1,436)	1,498)	1,506)	1,537)	2,185)
Non-current assets	89,530)	92,365)	93,353)	93,697)	94,033)	94,727)	94,386)	112,140)	112,395)	113,350)	112,966)	112,823)	112,308)	111,927)	111,727)	112,137)	112,337)	113,461)	113,193)	111,381)	31,473)	31,816)
Total assets	98,306)	104,073)	101,450)	102,822)	103,201)	103,562)	103,461)	119,730)	121,896)	120,787)	120,232)	120,051)	119,416)	120,802)	120,480)	121,080)	121,684)	123,273)	122,973)	121,792)	36,062)	36,293)

The asset profile demonstrates a significant expansion in late 2015, where total assets rose from approximately 36 billion US$ in June 2015 to over 121 billion US$ by September 2015. This growth was primarily concentrated in non-current assets, specifically within the categories of goodwill and intangible assets. Following this expansion, total assets remained relatively stable around the 120 billion US$ mark until late 2018, after which a contraction trend emerged, bringing total assets down to 98.3 billion US$ by June 2020.

Non-Current Asset Impairments: A substantial reduction in the valuation of non-current assets is observed starting in the fourth quarter of 2018. Goodwill decreased from 44.3 billion US$ in September 2018 to 36.5 billion US$ in December 2018, continuing a downward trajectory to 33.3 billion US$ by June 2020. Similarly, intangible assets, which peaked at 62.1 billion US$ in December 2015, saw a significant decline starting in December 2018, falling from 58.7 billion US$ to 47.2 billion US$ by June 2020. These combined write-downs served as the primary driver for the overall reduction in the total asset base.
Liquidity and Current Asset Volatility: Current assets exhibited considerable fluctuation, ranging from a low of 7.1 billion US$ in July 2017 to a peak of 11.7 billion US$ in March 2020. Cash and cash equivalents showed high volatility, with a notable spike to 5.4 billion US$ in March 2020, contrasting with periods of lower liquidity in 2017 and 2018 where balances dropped toward 1.1 billion US$. Trade receivables showed a steady upward trend, increasing from approximately 818 million US$ in March 2015 to consistently exceeding 2 billion US$ from June 2018 through June 2020.
Fixed and Operational Assets: Property, plant, and equipment (PPE) experienced a sharp increase in September 2015, rising from 2.2 billion US$ to 6.4 billion US$, and gradually peaked at 7.3 billion US$ in March 2018. From that point, PPE levels remained relatively flat, ending at 6.8 billion US$ in June 2020. Inventories followed a similar pattern, jumping to approximately 3 billion US$ in September 2015 and remaining stable within a range of 2.6 billion US$ to 3.3 billion US$ for the remainder of the analyzed period.

The overall financial trajectory is characterized by a massive initial asset inflation followed by a period of consolidation and subsequent impairment of intangible values. While operational assets like PPE and inventories remained stable, the balance sheet's total value became increasingly sensitive to the valuation of goodwill and intangible assets.

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Kraft Heinz Co. (NASDAQ:KHC)

Balance Sheet: AssetsQuarterly Data

Assets: Selected Items

Current Assets: Selected Items

Balance Sheet: Assets
Quarterly Data