Company: KHC
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0001637459-25-000061
Chunk: 126

Company: Kraft Heinz Co
Filing Date: 2025-04-29
Form: 10-Q
Item: Part I, Item 8
Chunk 126
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 control over financial reporting.

During 2024, we started a multi-year migration of certain of our financial processing systems, including the implementation of a new enterprise resource planning (ERP) solution which will replace our existing ERPs. The implementation is expected to occur in phases throughout our businesses over the next several years, and we anticipate the first phase to be completed in the first half of 2025. We are evaluating the design and operating effectiveness of internal controls as they relate to the system upgrades, and we will implement any required control changes prior to relevant go-live dates associated with the system implementations.

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PART II - OTHER INFORMATION

Item 1.  Legal Proceedings.

See Note 14, Commitments, Contingencies, and Debt, in Item 1, Financial Statements.

Item 1A.  Risk Factors.

There have been no material changes to the risk factors disclosed in our Annual Report on Form 10-K for the year ended December 28, 2024.

Item 2.  Unregistered Sales of Equity Securities and Use of Proceeds.

Our share repurchase activity in the three months ended March 29, 2025 was:

 Total Numberof Shares Purchased(a)Average Price Paid Per ShareTotal Number of Shares Purchased as Part of Publicly Announced Plans or Programs(b)Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs (in millions)12/29/2024 — 2/1/20251,471 $30.55 — $1,901 2/2/2025 — 3/1/20253,792,538 30.25 3,300,000 1,802 3/2/2025 — 3/29/20253,674,407 30.42 3,319,577 1,702 Total7,468,416 6,619,577 

(a)    Includes (1) shares purchased pursuant to the share repurchase program described in (b) below, and (2) shares withheld for tax liabilities associated with the vesting of RSUs and PSUs.

(b)    On November 27, 2023, the Company announced that the Board of Directors approved a share repurchase program authorizing the Company to purchase up to $3.0 billion of the Company’s common stock through December 26, 2026. The Company is not obligated to repurchase any specific