Stock Analysis on Net
Stock Analysis on Net

Kraft Heinz Co. (NASDAQ:KHC)

Income Statement
Quarterly Data

Beginner level

The income statement presents information on the financial results of a company’s 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 (quarterly data)

US$ in millions

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3 months ended: 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
Net sales 6,648  6,157  6,536  6,076  6,406  5,959  6,891  6,383  6,690  6,304  6,877  6,314  6,677  6,364  6,857  6,267  6,793  6,570  7,124  6,120  2,616  2,478 
Cost of products sold (4,196) (4,299) (4,429) (4,129) (4,324) (3,948) (4,675) (4,289) (4,343) (4,040) (4,470) (4,000) (3,996) (4,063) (4,398) (4,049) (4,262) (4,192) (4,720) (4,492) (1,734) (1,631)
Gross profit 2,452  1,858  2,107  1,947  2,082  2,011  2,216  2,094  2,347  2,264  2,407  2,314  2,681  2,301  2,459  2,218  2,531  2,378  2,404  1,628  882  847 
Selling, general and administrative expenses, excluding impairment losses (918) (862) (837) (762) (750) (829) (882) (803) (756) (764) (718) (653) (760) (750) (879) (805) (895) (865) (1,117) (1,229) (438) (338)
Goodwill impairment losses (1,817) (226) (453) —  (124) (620) (6,875) —  (133) —  —  —  —  —  —  —  —  —  —  —  —  — 
Intangible asset impairment losses (1,056) —  (223) (5) (474) —  (8,610) (217) (101) —  (49) —  —  —  —  —  —  —  —  —  —  — 
Selling, general and administrative expenses (3,791) (1,088) (1,513) (767) (1,348) (1,449) (16,367) (1,020) (990) (764) (767) (653) (760) (750) (879) (805) (895) (865) (1,117) (1,229) (438) (338)
Operating income (loss) (1,339) 770  594  1,180  734  562  (14,151) 1,074  1,357  1,500  1,640  1,661  1,921  1,551  1,580  1,413  1,636  1,513  1,287  399  444  509 
Interest expense (442) (310) (326) (398) (316) (321) (325) (326) (316) (317) (308) (306) (307) (313) (310) (311) (264) (249) (266) (460) (394) (201)
Other income (expense) 78  81  59  380  133  380  71  20  90  (1) (24) 12  10  (6) (108) (245) 39 
Income (loss) before income taxes (1,703) 541  327  1,162  551  621  (14,474) 819  1,061  1,273  1,331  1,359  1,590  1,250  1,280  1,105  1,366  1,272  1,030  (169) (195) 347 
(Provision for) benefit from income taxes 51  (160) (144) (264) (103) (217) 1,846  (201) (308) (270) 6,665  (416) (430) (359) (336) (262) (411) (372) (382) 49  35  (68)
Net income (loss) (1,652) 381  183  898  448  404  (12,628) 618  753  1,003  7,996  943  1,160  891  944  843  955  900  648  (120) (160) 279 
Net (income) loss attributable to noncontrolling interest (3) (1) 60  —  (1) —  (1) (5) (4) (3) (3) (4) (3)
Net income (loss) attributable to Kraft Heinz (1,651) 378  182  899  449  405  (12,568) 619  754  1,003  8,003  944  1,159  893  944  842  950  896  645  (123) (164) 276 
Preferred dividends —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  (180) —  (360) (180) (180) (180)
Net income (loss) attributable to common shareholders (1,651) 378  182  899  449  405  (12,568) 619  754  1,003  8,003  944  1,159  893  944  842  770  896  285  (303) (344) 96 

Based on: 10-Q (filing date: 2020-07-31), 10-Q (filing date: 2020-05-01), 10-K (filing date: 2020-02-14), 10-Q (filing date: 2019-10-31), 10-Q (filing date: 2019-08-13), 10-Q (filing date: 2019-08-13), 10-K (filing date: 2019-06-07), 10-Q (filing date: 2018-11-02), 10-Q (filing date: 2018-08-03), 10-Q (filing date: 2018-05-03), 10-K (filing date: 2018-02-16), 10-Q (filing date: 2017-11-07), 10-Q (filing date: 2017-08-04), 10-Q (filing date: 2017-05-04), 10-K (filing date: 2017-02-23), 10-Q (filing date: 2016-11-04), 10-Q (filing date: 2016-08-05), 10-Q (filing date: 2016-05-05), 10-K (filing date: 2016-03-03), 10-Q (filing date: 2015-11-06), 10-Q (filing date: 2015-08-10), S-4/A (filing date: 2015-05-18).

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.’s net sales decreased from Q4 2019 to Q1 2020 but then increased from Q1 2020 to Q2 2020 exceeding Q4 2019 level.
Operating income (loss) The net result for the period of deducting operating expenses from operating revenues. Kraft Heinz Co.’s operating income (loss) increased from Q4 2019 to Q1 2020 but then decreased significantly from Q1 2020 to Q2 2020.
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.’s income (loss) before income taxes increased from Q4 2019 to Q1 2020 but then decreased significantly from Q1 2020 to Q2 2020.
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.’s net income (loss) attributable to Kraft Heinz increased from Q4 2019 to Q1 2020 but then decreased significantly from Q1 2020 to Q2 2020.