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.

Kraft Heinz Co., consolidated income statement

US$ in millions

12 months ended:	Dec 28, 2019	Dec 29, 2018	Dec 30, 2017	Dec 31, 2016	Dec 31, 2015
Net sales	24,977)	26,268)	26,232)	26,487)	18,338)
Cost of products sold	(16,830)	(17,347)	(16,529)	(16,901)	(12,577)
Gross profit	8,147)	8,921)	9,703)	9,586)	5,761)
Selling, general and administrative expenses, excluding impairment losses	(3,178)	(3,205)	(2,881)	(3,444)	(3,122)
Goodwill impairment losses	(1,197)	(7,008)	—)	—)	—)
Intangible asset impairment losses	(702)	(8,928)	(49)	—)	—)
Selling, general and administrative expenses	(5,077)	(19,141)	(2,930)	(3,444)	(3,122)
Operating income (loss)	3,070)	(10,220)	6,773)	6,142)	2,639)
Interest expense	(1,361)	(1,284)	(1,234)	(1,134)	(1,321)
Other income (expense)	952)	183)	(9)	15)	(305)
Income (loss) before income taxes	2,661)	(11,321)	5,530)	5,023)	1,013)
(Provision for) benefit from income taxes	(728)	1,067)	5,460)	(1,381)	(366)
Net income (loss)	1,933)	(10,254)	10,990)	3,642)	647)
Net (income) loss attributable to noncontrolling interest	2)	62)	9)	(10)	(13)
Net income (loss) attributable to Kraft Heinz	1,935)	(10,192)	10,999)	3,632)	634)
Preferred dividends	—)	—)	—)	(180)	(900)
Net income (loss) attributable to common shareholders	1,935)	(10,192)	10,999)	3,452)	(266)

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).

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Income statement item	Description	The company
Net sales	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	Kraft Heinz Co. net sales increased from 2017 to 2018 but then decreased significantly from 2018 to 2019.
Operating income (loss)	The net result for the period of deducting operating expenses from operating revenues.	Kraft Heinz Co. operating income (loss) decreased from 2017 to 2018 but then increased from 2018 to 2019 not reaching 2017 level.
Income (loss) before income taxes	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.	Kraft Heinz Co. income (loss) before income taxes decreased from 2017 to 2018 but then increased from 2018 to 2019 not reaching 2017 level.
Net income (loss) attributable to Kraft Heinz	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Kraft Heinz Co. net income (loss) attributable to Kraft Heinz decreased from 2017 to 2018 but then increased from 2018 to 2019 not reaching 2017 level.

Kraft Heinz Co. (NASDAQ:KHC)

Income Statement