| NAME: | | KRAFT HEINZ CO |
| TICKER SYMBOL: | | KHC |
| PRIMARY SIC CODE: | | 2030 |
| STOCK EXCHANGE: | | 14 | NASDAQ-NMS Stock Market |
| CUSIP: | | 500754 |
| STATEMENT OF FINANCIAL POSITION |
| Fiscal Year: | | 2014 | 2015 | 2016 |
| (FYR Ending): | | (31DEC2014 ) | (31DEC2015 ) | (31DEC2016 ) |
| ASSETS |
| Cash & Equivalents | | 2,298.677 | 4,837.000 | 4,204.000 |
| Receivables - Total (Net) | | 1,234.346 | 1,454.000 | 898.000 |
| Inventories - Total | | 1,184.296 | 2,618.000 | 2,684.000 |
| Prepaid Expenses | | 139.458 | .000 | .000 |
| Current Assets - Other | | 58.462 | 871.000 | 967.000 |
| Current Assets - Total | | 4,915.239 | 9,780.000 | 8,753.000 |
| Plant, Property & Equip (Gross) | | 2,796.081 | 7,430.000 | 8,518.000 |
| Accumulated Depreciation | | 430.714 | 906.000 | 1,830.000 |
| Plant, Property & Equip (Net) | | 2,365.367 | 6,524.000 | 6,688.000 |
| Investments at Equity | | .000 | .000 | .000 |
| Investments and Advances - Other | | .000 | .000 | .000 |
| Intangibles | | 28,145.717 | 105,171.000 | 103,422.000 |
| Deferred Charges | | | .000 | .000 |
| Assets - Other | | 1,336.418 | 1,498.000 | 1,617.000 |
| TOTAL ASSETS | | 36,762.741 | 122,973.000 | 120,480.000 |
| LIABILITIES |
| Accounts Payable | | 1,651.134 | 2,844.000 | 3,996.000 |
| Notes Payable | | 58.575 | .000 | 645.000 |
| Accrued Expenses | | 936.628 | 1,585.000 | 1,321.000 |
| Taxes Payable | | 231.714 | 417.000 | 255.000 |
| Debt (Long-Term) Due In One Year | | 11.326 | 79.000 | 2,046.000 |
| Other Current Liabilities | | 203.047 | 2,007.000 | 1,238.000 |
| Total Current Liabilities | | 3,092.424 | 6,932.000 | 9,501.000 |
| Long Term Debt | | 13,584.987 | 25,151.000 | 29,713.000 |
| Deferred Taxes (Balance Sheet) | | 3,866.503 | 21,497.000 | 20,848.000 |
| Investment Tax Credit | | .000 | .000 | .000 |
| Liabilities - Other | | 532.784 | 3,157.000 | 2,844.000 |
| Noncontrolling Interest - Redeemable | | 29.282 | 23.000 | .000 |
| TOTAL LIABILITIES | | 21,105.980 | 56,760.000 | 62,906.000 |
| SHAREHOLDERS' EQUITY |
| Preferred Stock | | .000 | 8,320.000 | .000 |
| Common Stock | | .000 | 12.000 | 12.000 |
| Capital Surplus | | 16,011.329 | 58,375.000 | 58,593.000 |
| Retained Earnings (Net Other) | | -573.486 | -671.000 | -1,040.000 |
| Less: Treasury Stock | | .000 | 31.000 | 207.000 |
| Shareholders Equity - Parent | | 15,437.843 | 66,005.000 | 57,358.000 |
| Noncontrolling Interest - Nonredeemable | | 218.918 | 208.000 | 216.000 |
| TOTAL SHAREHOLDERS EQUITY | | 15,656.761 | 66,213.000 | 57,574.000 |
| TOTAL LIABILITIES AND EQUITY | | 36,762.741 | 122,973.000 | 120,480.000 |
| INCOME STATEMENT |
| Fiscal Year: | | 2014 | 2015 | 2016 |
| (FYR Ending): | | (31DEC2014 ) | (31DEC2015 ) | (31DEC2016 ) |
| Sales (Net) | | 10,922.269 | 18,338.000 | 26,487.000 |
| Cost of Goods Sold | | 6,189.504 | 11,037.000 | 14,794.000 |
| Gross Profit | | 4,732.765 | 7,301.000 | 11,693.000 |
| Selling, General, & Admin Expenses | | 1,984.690 | 2,279.000 | 3,115.000 |
| Operating Income Before Depreciation | | 2,748.075 | 5,022.000 | 8,578.000 |
| Depreciation, Depletion, & Amortiz | | 522.816 | 740.000 | 1,337.000 |
| Operating Income After Depreciation | | 2,225.259 | 4,282.000 | 7,241.000 |
| Interest Expense | | 670.699 | 1,085.000 | 1,134.000 |
| Non-Operating Income/Expense | | -56.822 | 34.000 | 39.000 |
| Special Items | | -694.782 | -2,218.000 | -1,123.000 |
| Pretax Income | | 802.956 | 1,013.000 | 5,023.000 |
| Income Taxes - Total | | 130.568 | 366.000 | 1,381.000 |
| Minority Interest | | 15.317 | 13.000 | 10.000 |
| Income Before EI&DO | | 657.071 | 634.000 | 3,632.000 |
| Extraordinary Items | | .000 | .000 | .000 |
| Discontinued Operations | | .000 | .000 | .000 |
| Net Income (Loss) | | 657.071 | 634.000 | 3,632.000 |
| Income Before EI&DO | | 657.071 | 634.000 | 3,632.000 |
| Preferred Dividends | | .000 | 900.000 | 180.000 |
| Available for Common Before EI&DO | | 657.071 | -266.000 | 3,452.000 |
| Common Stock Equivalents - Savings | | .000 | .000 | .000 |
| Adjusted Available for Common | | 657.071 | -266.000 | 3,452.000 |
| EARNINGS PER SHARE |
| EPS - Primary, Excluding EI&DO | | | -.340 | 2.840 |
| EPS - Primary, Including EI&DO | | | -.340 | 2.840 |
| EPS - Fully Diluted, Excluding EI&DO | | | -.340 | 2.810 |
| EPS - Fully Diluted, Including EI&DO | | | -.340 | 2.810 |
| COMMON SHARES |
| Common Shares for Primary EPS Calculation | | | 786.000 | 1,217.000 |
| Common Shares for Fully Diluted EPS Calc. | | | 786.000 | 1,226.000 |
| Common Shares Outstanding at Fiscal Yr End | | .001 | 1,213.979 | 1,216.476 |
| STATEMENT OF RETAINED EARNINGS |
| Fiscal Year: | | 2014 | 2015 | 2016 |
| (FYR Ending): | | (31DEC2014 ) | (31DEC2015 ) | (31DEC2016 ) |
| Retained Rearnings - Beginning Balance | | 155.989 | -573.486 | -671.000 |
| Net Income | | 657.071 | 634.000 | 3,632.000 |
| Cash Dividends | | 720.000 | 2,202.000 | 3,764.000 |
| Retained Earnings After Dividends | | 93.060 | -2,141.486 | -803.000 |
| Change - Foreign Currency Translation |
| Adj. to Long-Term Marketable Securities | | .000 | .000 | .000 |
| Other CMP Adj,(Stock Splits/Retirement) | | .069 | 975.000 | 784.000 |
| Non-Compustat Adjustments (Plug Calculation) | | -666.615 | 495.486 | -1,021.000 |
| Retained Earnings - Ending Balance | | -573.486 | -671.000 | -1,040.000 |
| Retroactive Adjustments (Acct'g Chgs) | | .000 | .000 | .000 |
| Retained Earnings - After Adjustments | | -573.486 | -671.000 | -1,040.000 |
| STATEMENT OF CASH FLOWS |
| Fiscal Year: | | 2014 | 2015 | 2016 |
| (FYR Ending): | | (31DEC2014 ) | (31DEC2015 ) | (31DEC2016 ) |
| INDIRECT OPERATING ACTIVITIES |
| Income Before Extraordinary Items | | 672.388 | 647.000 | 3,642.000 |
| Depreciation and Amortizations | | 575.883 | 740.000 | 1,337.000 |
| Extraordinary Items and Disc. Operations | | .000 | .000 | .000 |
| Deferred Taxes | | -174.273 | -317.000 | -29.000 |
| Equity in Net Loss (Earnings) | | .000 | .000 | .000 |
| Sale of PPEq and Investments - Loss (Gain) | | .000 | .000 | .000 |
| Funds from Operations - Other | | 270.457 | 730.000 | -741.000 |
| Receivables - Decrease (Increase) | | -3.912 | 416.000 | 534.000 |
| Inventory - Decrease (Increase) | | 152.888 | 25.000 | -130.000 |
| Accounts/P and Accrued Liabs - Inc(Dec) | | 429.663 | -119.000 | 943.000 |
| Income Taxes - Accrued - Increase(Decrease) | | 219.307 |
| Other Assets and Liabilities - Net Change | | -.664 | 345.000 | -318.000 |
| Operating Actiities - Net Cash Flow | | 2,141.737 | 2,467.000 | 5,238.000 |
| INVESTING ACTIVITIES |
| Investments - Increase | | .000 | .000 | .000 |
| Sale of Investments | | .000 | .000 | .000 |
| Short term Investments - Change | | .000 | .000 | .000 |
| Capital Expenditures | | 399.428 | 648.000 | 1,247.000 |
| Sale of Property Plant and Equipment | | 53.527 | .000 | .000 |
| Acquisitions | | .000 | 9,468.000 | .000 |
| Investing Activities - Other | | -3.962 | 412.000 | 134.000 |
| Investing Activites - Net Cash Flow | | -349.863 | -9,704.000 | -1,113.000 |
| FINANCING ACTIVITIES |
| Sale of Common and Preferred Stock | | .000 | 10,000.000 | .000 |
| Purchase of Common and Preferred Stock | | .000 | .000 | 8,320.000 |
| Cash Dividends | | 720.000 | 2,202.000 | 3,764.000 |
| Long Term Debt - Issuance | | .000 | 14,834.000 | 6,981.000 |
| Long Term Debt - Reduction | | 1,103.063 | 12,314.000 | 86.000 |
| Current Debt - Changes | | -2.902 | -49.000 | 637.000 |
| Financing Activities - Other | | 5.674 | -86.000 | -69.000 |
| Financing Activities - Net Cash Flow | | -1,820.291 | 10,183.000 | -4,621.000 |
| Exchange Rate Effect | | -131.898 | -407.000 | -137.000 |
| Cash and Cash Equivalents - Change | | -160.315 | 2,539.000 | -633.000 |
| OTHER INFORMATION |
| Interest Paid - Net< | | 620.061 | 704.000 | 1,176.000 |
| Income Taxes Paid | | 85.534 | 577.000 | 1,619.000 |
| ADDITIONAL SCHEDULES |
| Fiscal Year: | | 2014 | 2015 | 2016 |
| (FYR Ending): | | (31DEC2014 ) | (31DEC2015 ) | (31DEC2016 ) |
| Receivables - Trade | | 850.617 | 871.000 | 769.000 |
| Income Tax Refund | | .000 | .000 | .000 |
| Receivables - Other - Current | | 383.729 | 583.000 | 129.000 |
| Receivables - Total (Net) | | 1,234.346 | 1,454.000 | 898.000 |
| Inventories - Raw Materials | | 222.514 | 563.000 | 542.000 |
| Inventories - Work In Process | | | 393.000 | 388.000 |
| Inventories - Finished Goods | | | 1,662.000 | 1,754.000 |
| Inventories - Other | | .000 | .000 | .000 |
| Inventories - Total | | 1,184.296 | 2,618.000 | 2,684.000 |
| LESS: Debt (Long Term) Due In One Year | | -11.326 | -79.000 | -2,046.000 |
| Debt - Convertible Subordinated | | .000 | .000 | .000 |
| Debt - Senior Convertible | | .000 | .000 | .000 |
| Debt - Subordinated | | .000 | .000 | .000 |
| Debt - Notes | | 4,919.454 | 22,392.000 | 31,001.000 |
| Debt - Debentures | | 256.511 | .000 | .000 |
| Debt - Long Term - Other | | 8,420.348 | 2,709.000 | 650.000 |
| Debt - Capitalized Lease Obligations | | | 129.000 | 108.000 |
| Long Term Debt Total | | 13,584.987 | 25,151.000 | 29,713.000 |
| Property, Plant and Equipment (Cost) |
| Beginning Balance |
| Capital Expenditures | | 399.428 | 648.000 | 1,247.000 |
| Retirements |
| Other Changes |
| Ending Balance | | 2,796.081 | 7,430.000 | 8,518.000 |
| Accumulated Depreciation on PPE |
| Beginning Balance |
| Depreciation Expense |
| Depletion Expense |
| Retirements |
| Other Changes |
| Ending Balance | | 430.714 | 906.000 | 1,830.000 |
| Deferred Taxes - Federal | | -158.832 | -173.000 | 31.000 |
| Deferred Taxes - Foreign | | -.749 | -74.000 | .000 |
| Deferred Taxes - State | | -14.691 | -70.000 | -60.000 |
| Income Taxes - Federal | | 104.746 | 427.000 | 1,095.000 |
| Income Taxes - Foreign | | 187.867 | 234.000 | 239.000 |
| Income Taxes - State | | 12.227 | 22.000 | 76.000 |
| Income Taxes - Other | | .000 | .000 | .000 |
| Income Taxes - Total | | 130.568 | 366.000 | 1,381.000 |
| Common Shares Reserved For Conversion |
| Convertible Debt |
| Preferred Stock |
| Stock Options |
| Warrants and Other |
| Total |
| ADDITIONAL DATA |
| Fiscal Year: | | 2014 | 2015 | 2016 |
| (FYR Ending): | | (31DEC2014 ) | (31DEC2015 ) | (31DEC2016 ) |
| Acquisitions - Income Contribution |
| Acquisitions - Sales Contribution |
| Adjustmnet Factor-Cum, Ex-Date | | 1.000 | 1.000 | 1.000 |
| Advertising Expense | | 386.200 | 464.000 | 708.000 |
| Average Short Term Borrowing Rate |
| Average Short term Borrowing |
| Common Shareholders (# of) | | .001 | 56.000 | 55.000 |
| Common Shares Traded (Calendar Yr) | | | 472,776,690.000 | 802,958,651.000 |
| Compensating Balance |
| Convertible Debt and Preferred Stock | | .000 | 8,320.000 | .000 |
| Debt (Long Term) Maturing Due in 2 Years | | 82.208 | 2,019.000 | 2,685.000 |
| Debt (Long Term) Maturing Due in 3 Years | | 31.745 | 2,682.000 | 3.000 |
| Debt (Long Term) Maturing Due in 4 Years Years | | 4.361 | 4.000 | 2,999.000 |
| Debt (Long Term) Maturing Due in 5 Years | | 2,773.539 | 3,582.000 | 38.000 |
| Debt - Long-Term Debt - Tied to Prime | | 8,357.535 |
| Debt - Martgages and Other Securities | | 11,457.535 | 1,319.000 | 1,299.000 |
| Debt - Unamortized Debt Discount and Other | | .000 | .000 | .000 |
| Dividends (Cash)per Share Ex-Date | | | 1.700 | 2.350 |
| Dividends (Cash) - Common | | 577.578 | 2,064.000 | 2,862.000 |
| Dividends (Cash) - Preferred | | .000 | 900.000 | 180.000 |
| Employees (# of) | | 24.500 | 42.000 | 41.000 |
| Equity in Earnings - Unconsolidated Subs | | 36,762.741 | 122,973.000 | 120,480.000 |
| Foreign Currency Translation Adj - Bal. Sheet | | -573.555 | -1,646.000 | -2,412.000 |
| Foreign Currency Translation Adj - Inc. Stmnt. |
| Interest Capitalized (in fiscal yr) |
| Interest Capitalized - Net Income Effect |
| Interest Expense on Long Term Debt |
| Investment Tax Credit | | .000 | .000 | .000 |
| Labor Related Expenses |
| LIFO Reserve | | .000 | .000 | .000 |
| Order Backlog |
| Preferred Stock - Dividends In Arrears | | .000 | .000 | .000 |
| Preferred Stock - Liquidation Value | | .000 | 8,320.000 | .000 |
| Preferred Stock - Redemption Value | | .000 | 8,320.000 | .000 |
| Present Value - Noncapitalized Leases |
| Price - Calendar Year Close | | | 72.760 | 87.320 |
| Price - Calendar Year High | | | 81.200 | 90.540 |
| Price - Calendar Year Low | | | 61.420 | 68.180 |
| Price - Fiscal Year Close | | | 72.760 | 87.320 |
| Receivables - Estimated Doubtful |
| Rental Commitments - Minimum Year+1 | | 70.500 | 120.000 | 94.000 |
| Rental Commitments - Minimum Year+2 | | 120.000 | 119.000 | 92.000 |
| Rental Commitments - Minimum Year+3 | | 55.300 | 106.000 | 77.000 |
| Rental Commitments - Minimum Year+4 | | 51.700 | 90.000 | 61.000 |
| Rental Commitments - Minimum Year+5 | | 58.900 | 68.000 | 43.000 |
| Rental Expense | | 101.900 | 160.000 | 149.000 |
| Rental Income |
| Research and Development Expense | | | 105.000 | 120.000 |
| Tax Loss Carry Forward | | 321.200 | 364.000 | 321.000 |
| Treasury Stock ($) - Common | | .000 | 31.000 | 207.000 |
| Treasury Stock ($) - Preferred | | .000 | .000 | .000 |
| Treasury Stock - # Shares | | .000 | .413 | 2.471 |
| INPUTS INTO FINANCIAL STATEMENTS AND MARKET RELATIONS |
| Fiscal Year: | | 2014 | 2015 | 2016 |
| (FYR Ending): | | (31DEC2014 ) | (31DEC2015 ) | (31DEC2016 ) |
| Cash & Equivalents | | 2,298.677 | 4,837.000 | 4,204.000 |
| Receivables - Total (Net) | | 1,234.346 | 1,454.000 | 898.000 |
| Inventories - Total | | 1,184.296 | 2,618.000 | 2,684.000 |
| Prepaid Expenses | | 139.458 | .000 | .000 |
| Current Assets - Other | | 58.462 | 871.000 | 967.000 |
| Current Assets - Total | | 4,915.239 | 9,780.000 | 8,753.000 |
| Plant, Property & Equip (Gross) | | 2,796.081 | 7,430.000 | 8,518.000 |
| Accumulated Depreciation | | 430.714 | 906.000 | 1,830.000 |
| Plant, Property & Equip (Net) | | 2,365.367 | 6,524.000 | 6,688.000 |
| Investments at Equity | | .000 | .000 | .000 |
| Investments and Advances - Other | | .000 | .000 | .000 |
| Intangibles | | 28,145.717 | 105,171.000 | 103,422.000 |
| Deferred Charges | | | .000 | .000 |
| Assets - Other | | 1,336.418 | 1,498.000 | 1,617.000 |
| TOTAL ASSETS | | 36,762.741 | 122,973.000 | 120,480.000 |
| Accounts Payable | | 1,651.134 | 2,844.000 | 3,996.000 |
| Notes Payable | | 58.575 | .000 | 645.000 |
| Accrued Expenses | | 936.628 | 1,585.000 | 1,321.000 |
| Taxes Payable | | 231.714 | 417.000 | 255.000 |
| Debt (Long-Term) Due In One Year | | 11.326 | 79.000 | 2,046.000 |
| Other Current Liabilities | | 1,139.675 | 3,592.000 | 2,559.000 |
| Total Current Liabilities | | 3,092.424 | 6,932.000 | 9,501.000 |
| Long Term Debt | | 13,584.987 | 25,151.000 | 29,713.000 |
| Deferred Taxes (Balance Sheet) | | 3,866.503 | 21,497.000 | 20,848.000 |
| Investment Tax Credit | | .000 | .000 | .000 |
| Liabilities - Other | | 532.784 | 3,157.000 | 2,844.000 |
| TOTAL LIABILITIES | | 21,105.980 | 56,760.000 | 62,906.000 |
| Noncontrolling Interest - Redeemable | | 29.282 | 23.000 | .000 |
| Preferred Stock | | .000 | 8,320.000 | .000 |
| Common Stock | | .000 | 12.000 | 12.000 |
| Capital Surplus | | 16,011.329 | 58,375.000 | 58,593.000 |
| Retained Earnings (Net Other) | | -573.486 | -671.000 | -1,040.000 |
| Less: Treasury Stock | | .000 | 31.000 | 207.000 |
| Shareholders Equity - Parent | | 15,437.843 | 66,005.000 | 57,358.000 |
| Noncontrolling Interest - Nonredeemable | | 218.918 | 208.000 | 216.000 |
| TOTAL SHAREHOLDERS EQUITY | | 15,656.761 | 66,213.000 | 57,574.000 |
| Sales (Net) | | 10,922.269 | 18,338.000 | 26,487.000 |
| Cost of Goods Sold | | 6,189.504 | 11,037.000 | 14,794.000 |
| Gross Profit | | 4,732.765 | 7,301.000 | 11,693.000 |
| Selling, General, & Admin Expenses | | 1,984.690 | 2,279.000 | 3,115.000 |
| Operating Income Before Depreciation | | 2,748.075 | 5,022.000 | 8,578.000 |
| Depreciation, Depletion, & Amortization | | 522.816 | 740.000 | 1,337.000 |
| Operating Income After Depreciation | | 2,225.259 | 4,282.000 | 7,241.000 |
| Interest Expense | | 670.699 | 1,085.000 | 1,134.000 |
| Non-Operating Income/Expense | | -56.822 | 34.000 | 39.000 |
| Special Items | | -694.782 | -2,218.000 | -1,123.000 |
| Pretax Income | | 802.956 | 1,013.000 | 5,023.000 |
| Income Taxes - Total | | 130.568 | 366.000 | 1,381.000 |
| Minority Interest | | 15.317 | 13.000 | 10.000 |
| INCOME BEFORE EI&DO | | 657.071 | 634.000 | 3,632.000 |
| Extraordinary Items | | .000 | .000 | .000 |
| Discontinued Operations | | .000 | .000 | .000 |
| Net Income (Loss) | | 657.071 | 634.000 | 3,632.000 |
| Preferred Dividends | | .000 | 900.000 | 180.000 |
| EPS - Primary - Excluding EI&DO | | | -.340 | 2.840 |
| EPS - Primary - Including EI&DO | | | -.340 | 2.840 |
| EPS - Fully Diluted - Excluding EI&DO | | | -.340 | 2.810 |
| EPS - Fully Diluted - Including EI&DO | | | -.340 | 2.810 |
| SHARES - for Primary EPS Calculation | | | 786.000 | 1,217.000 |
| STATEMENT OF CASH FLOWS |
| SHARES - for Fully Diluted EPS Calculation | | | 786.000 | 1,226.000 |
| SHARES - Outstanding at Fiscal Year End | | .001 | 1,213.979 | 1,216.476 |
| Operating Activities - Net Cash Flow | | 2,141.737 | 2,467.000 | 5,238.000 |
| Capital Expenditures | | 399.428 | 648.000 | 1,247.000 |
| Sale of Property Plant and Equipment | | 53.527 | .000 | .000 |
| Acquisitions | | .000 | 9,468.000 | .000 |
| Investing Activites - Net Cash Flow | | -349.863 | -9,704.000 | -1,113.000 |
| Cash Dividends | | 720.000 | 2,202.000 | 3,764.000 |
| CASH STATEMENT - SOURCE & USE |
| Interest Paid - Net | | 620.061 | 704.000 | 1,176.000 |
| Income Taxes Paid | | 85.534 | 577.000 | 1,619.000 |
| Funds From Operations - Total |
| Current Debt - Changes | | -2.902 | -49.000 | 637.000 |
| Working Capital Changes - Other - Inc(Dec) |
| Adjustmnet Factor-Cum, Ex-Date | | 1.000 | 1.000 | 1.000 |
| Advertising Expense | | 386.200 | 464.000 | 708.000 |
| Dividends (Cash)per Share Ex-Date | | | 1.700 | 2.350 |
| Dividends (Cash) - Common | | 577.578 | 2,064.000 | 2,862.000 |
| Dividends (Cash) - Preferred | | .000 | 900.000 | 180.000 |
| Preferred Stock - Liquidation Value | | .000 | 8,320.000 | .000 |
| Preferred Stock - Redemption Value | | .000 | 8,320.000 | .000 |
| Price - Calendar Year Close | | | 72.760 | 87.320 |
| Price - Fiscal Year Close | | | 72.760 | 87.320 |
| Receivables - Estimated Doubtful |
| Rental Expense | | 101.900 | 160.000 | 149.000 |
| Research and Development Expense | | | 105.000 | 120.000 |
hanxuji
ICE1-FinancialRatiosAnalyses-Revised1111.xls
