Company: KHC
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0001637459-25-000152
Chunk: 128

Company: Kraft Heinz Co
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 8
Chunk 128
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 offset higher pricing (0.9 pp). Pricing was higher in each segment. Volume/mix in North America and International Developed Markets was unfavorable, while volume/mix in Emerging Markets was favorable.

33

Net Income/(Loss):

For the Three Months EndedFor the Six Months EndedJune 28, 2025June 29, 2024% ChangeJune 28, 2025June 29, 2024% Change(in millions)(in millions)Operating income/(loss)$(7,974)$522 (1,627.6)%$(6,778)$1,824 (471.6)%Net income/(loss)(7,823)100 (7,923.0)%(7,109)904 (886.4)%Net income/(loss) attributable to common shareholders(7,824)102 (7,770.6)%(7,112)903 (887.6)%Adjusted Operating Income(a)1,276 1,380 (7.5)%2,475 2,645 (6.4)%

(a)    Adjusted Operating Income is a non-GAAP financial measure. See the Non-GAAP Financial Measures section at the end of this item.

Three Months Ended June 28, 2025 Compared to the Three Months Ended June 29, 2024:

Operating income/(loss) decreased 1,627.6% to a loss of $8.0 billion for the three months ended June 28, 2025 compared to income of $522 million for the three months ended June 29, 2024, primarily due to non-cash impairment losses that were $8.4 billion higher in the current year period. In addition to the impact of these non-cash impairment losses, operating income/(loss) decreased $84 million driven by increased commodity cost inflation, which more than offset our efficiency initiatives, and unfavorable volume/mix. These unfavorable impacts to operating income/(loss) were partially offset by higher pricing, decreased SG&A, primarily due to lower advertising expense, and favorable changes in unrealized losses/(gains) on commodity hedges.

Net income/(loss) decreased 7,923.0% to a loss of $7.8 billion for the three months ended June 28, 2025 compared to income of $100 million for the three months ended June 29, 2024. This decrease was due to the unfavorable changes in operating income/(loss) factors discussed above,