Company: KHC
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0001637459-25-000152
Chunk: 104

Company: Kraft Heinz Co
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 8
Chunk 104
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) and other non-current assets ($1 million), and the fair value of our derivative liabilities was recorded in other current liabilities ($42 million) and non-current liabilities ($2 million).December 28, 2024Quoted Prices in Active Markets for Identical Assets and Liabilities(Level 1)Significant Other Observable Inputs (Level 2)Total Fair ValueAssetsLiabilitiesAssetsLiabilitiesAssetsLiabilitiesDerivatives designated as hedging instruments:Foreign exchange contracts(a)$— $— $45 $9 $45 $9 Cross-currency contracts(b)— — 137 172 137 172 Derivatives not designated as hedging instruments:Commodity contracts(c)24 37 9 19 33 56 Foreign exchange contracts(a)— — 33 8 33 8 Total fair value$24 $37 $224 $208 $248 $245 (a)    At December 28, 2024, the fair value of our derivative assets was recorded in other current assets ($71 million) and other non-current assets ($7 million), and the fair value of our derivative liabilities was recorded in other current liabilities ($16 million) and other non-current liabilities ($1 million). (b)    At December 28, 2024, the fair value of our derivative assets was recorded in other current assets ($69 million) and other non-current assets ($68 million), and the fair value of our derivative liabilities was recorded in other current liabilities ($34 million) and other non-current liabilities ($138 million).(c)    At December 28, 2024, the fair value of our derivative assets was recorded in other current assets and the fair value of our derivative liabilities was recorded in other current liabilities ($55 million) and other non-current liabilities ($1 million).Our derivative financial instruments are subject to master netting arrangements that allow for the offset of assets and liabilities in the event of default or early termination of the contract. We elect to record the gross assets and liabilities of our derivative financial instruments on the condensed consolidated balance sheets. If the derivative financial instruments had been netted on the condensed consolidated balance sheets, the asset and liability positions each would have been reduced by $207 million at June 28, 2025 and $141 million at December 28, 2024. We had posted collateral related to commodity derivative margin requirements of $10 million