Company: KHC
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0001637459-25-000061
Chunk: 90

Company: Kraft Heinz Co
Filing Date: 2025-04-29
Form: 10-Q
Item: Part I, Item 8
Chunk 90
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 Value hedges:Cross-currency contracts — — (34)— — — Cross-currency contracts (excluded component)(b)— — 3 — — — Hedged items(b)— — 34 — — — Gains/(losses) related to derivatives not designated as hedging instruments:Commodity contracts(11)— — 9 — — Foreign exchange contracts— — 9 — — 8 Interest rates contracts(c)— — — — — (3)Cross-currency contracts— — 1 — — (21)Total gains/(losses) recognized in statements of income$(2)$3 $87 $10 $4 $(39)(a)    Represents the pre-tax amounts of derivative gains/(losses) reclassified from accumulated other comprehensive income/(losses) to net income/(loss).(b)    Represents the pre-tax amounts of the hedge and hedged items gains/(losses) in fair value hedges.(c)    Represents recognition of realized hedge losses resulting from the discontinuance of cash flow hedges because the forecasted transactions were no longer probable of occurring.Non-Derivative Impact on Statements of Comprehensive Income:Related to our non-derivative foreign currency denominated debt instruments designated as net investment hedges, we recognized pre-tax losses of $49 million for the three months ended March 29, 2025 and pre-tax gains of $24 million for the three months ended March 30, 2024. These amounts were recognized in other comprehensive income/(loss).Available-for-sale securities:We invest in certain marketable fixed-income debt securities that are classified as available-for-sale. Our available-for-sale securities are reported at fair value based on pricing models and quoted market prices adjusted for credit and non-performance risk. Highly liquid investments with maturities of 90 days or less are included in cash and cash equivalents on our condensed consolidated balance sheets. Investments with maturities of greater than 90 days but less than 12 months are presented as marketable securities on our condensed consolidated balance sheets. We did not hold any investments with maturities exceeding 12 months. We classify our investments in commercial paper and corporate bonds as Level 2 as such investments are valued through consultation and evaluation with brokers in the institutional market using quoted prices and other observable market data.Unrealized holding gains/(losses