Company: KHC
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0001637459-25-000061
Chunk: 71

Company: Kraft Heinz Co
Filing Date: 2025-04-29
Form: 10-Q
Item: Part I, Item 1
Chunk 71
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 29, 2025 and income of $4 million for the three months ended March 30, 2024.

(b)    Gross expenses/(income) included in unrealized losses/(gains) on commodity hedges were income of $1 million ($1 million after-tax) for the three months ended March 29, 2025 and income of $34 million ($26 million after-tax) for the three months ended March 30, 2024, and were recorded in cost of products sold.

(c)    Gross expenses/(income) included in losses/(gains) on sale of business were expenses of $80 million ($68 million after-tax) for the three months ended March 30, 2024 and were recorded in other expense/(income).

(d)    Gross expenses included in nonmonetary currency devaluation were $14 million ($14 million after-tax) for the three months ended March 29, 2025 and were recorded in other expense/(income).

(e)    Certain significant discrete income tax items were an expense of $13 million for the three months ended March 29, 2025. The expense represents current period movement in the valuation allowance against deferred tax assets in our subsidiary in Brazil and adjustments recorded to the deferred tax asset and valuation allowance related to the transfer of business operations to a wholly-owned subsidiary in the Netherlands in December 2024.

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Item 3.  Quantitative and Qualitative Disclosures About Market Risk.

There have been no material changes to our market risk during the three months ended March 29, 2025. For additional information, refer to Item 7A, Quantitative and Qualitative Disclosures about Market Risk, in our Annual Report on Form 10-K for the year ended December 28, 2024.

Item 4.  Controls and Procedures.

Evaluation of Disclosure Controls and Procedures

Our management, with the participation of our Chief Executive Officer and Chief Financial Officer, has evaluated the effectiveness of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act) as of March 29, 2025. Based on that evaluation, our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures, as of March 29, 2025, were effective and provided reasonable assurance that the information required to be disclosed in the reports that we file or submit under the Exchange Act is recorded, processed, summarized, and