Company: KHC
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0001637459-25-000152
Chunk: 103

Company: Kraft Heinz Co
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 8
Chunk 103
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, tax deductibility, significant differences between expected and actual postretirement plan asset performance or interest rates, or other factors.

Note 11.  Financial Instruments

See our consolidated financial statements and related notes in our Annual Report on Form 10-K for the year ended December 28, 2024 for additional information on our overall risk management strategies, our use of derivatives, and our related accounting policies.Derivative Volume:The notional values of our outstanding derivative instruments were (in millions):Notional AmountJune 28, 2025December 28, 2024Commodity contracts$1,101 $1,152 Foreign exchange contracts3,808 3,067 Cross-currency contracts6,361 7,449 

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Fair Value of Derivative Instruments:The fair values and the levels within the fair value hierarchy of derivative instruments recorded on the condensed consolidated balance sheets were (in millions):June 28, 2025Quoted Prices in Active Markets for Identical Assets and Liabilities(Level 1)Significant Other Observable Inputs (Level 2)Total Fair ValueAssetsLiabilitiesAssetsLiabilitiesAssetsLiabilitiesDerivatives designated as hedging instruments:Foreign exchange contracts(a)$— $— $36 $26 $36 $26 Cross-currency contracts(b)— — 200 404 200 404 Derivatives not designated as hedging instruments:Commodity contracts(c)34 28 3 16 37 44 Foreign exchange contracts(a)— — 31 16 31 16 Total fair value$34 $28 $270 $462 $304 $490 (a)    At June 28, 2025, the fair value of our derivative assets was recorded in other current assets ($38 million) and other non-current assets ($29 million), and the fair value of our derivative liabilities was recorded in other current liabilities ($37 million) and other non-current liabilities ($5 million).(b)    At June 28, 2025, the fair value of our derivative assets was recorded in other current assets ($68 million) and other non-current assets ($132 million), and the fair value of our derivative liabilities was recorded in other current liabilities ($22 million) and other non-current liabilities ($382 million).(c)     At June 28, 2025, the fair value of our derivative assets was recorded in other current assets ($36 million