Company: KHC
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0001637459-25-000152
Chunk: 18

Company: Kraft Heinz Co
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 1
Chunk 18
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 28, 2025, we eliminated approximately 525 positions related to these programs. As of June 28, 2025, we expect to eliminate approximately 200 additional positions during the remainder of 2025. For the three months ended June 28, 2025, restructuring activities resulted in net expenses of $10 million and included a net expense of $14 million of other restructuring costs, a net benefit of $3 million of other exit costs, and a net benefit of $1 million of severance and employee benefit costs For the six months ended June 28, 2025, restructuring activities resulted in net expenses of $14 million and included a net expense of $14 million of other restructuring costs, a net expense of $3 million of severance and employee benefit costs, and a net benefit of $3 million of other exit costs. Restructuring activities resulted in a net expense of $2 million for the three months and a net benefit of $1 million for the six months ended June 29, 2024.Our net liability balance for restructuring project costs that qualify as exit and disposal costs under U.S. GAAP was (in millions):Severance and Employee Benefit CostsOther Exit CostsTotalBalance at December 28, 2024$29 $11 $40 Charges/(credits)3 (3)— Cash payments(21)(5)(26)Balance at June 28, 2025$11 $3 $14 We expect the majority of the liability for severance and employee benefit costs as of June 28, 2025 to be paid by the end of 2025. The liability for other exit costs primarily relates to lease obligations. The cash impact of these obligations will continue for the duration of the lease terms, which expire in 2026.Total Expenses/(Income):Total expense/(income) related to restructuring activities, by income statement caption, were (in millions):For the Three Months EndedFor the Six Months EndedJune 28, 2025June 29, 2024June 28, 2025June 29, 2024Severance and employee benefit costs - Cost of products sold$1 $— $(1)$— Severance and employee benefit costs - SG&A(2)1 4 (5)Severance and employee benefit costs - Other expense/(income)— (1)— (1)Other costs - Cost of products sold— 1 —