What is causing the volatility for this company? Is anything in this statement unusual or concerning and why?
What is causing the volatility for this company? Is anything in this statement unusual or concerning and why?
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter13: Financial Statement Analysis
Section: Chapter Questions
Problem 13.15E
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Question
What is causing the volatility for this company? Is anything in this statement unusual or concerning and why?
![Net sales
Cost of products sold
Gross profit
The Kraft Heinz Company
Consolidated Statements of Income
(in millions, except per share data)
Selling, general and administrative expenses, excluding
impairment losses
Goodwill impairment losses
Intangible asset impairment losses
Selling, general and administrative expenses
Operating income/(loss)
Interest expense
Other expense/(income)
Income/(loss) before income taxes
Provision for/(benefit from) income taxes
Net income/(loss)
Net income/(loss) attributable to noncontrolling interest
Net income/(loss) attributable to common shareholders
Per share data applicable to common shareholders:
Basic earnings/(loss)
Diluted earnings/(loss)
December
26, 2020
S 26,185
17,008
9,177
S
S
3,650
2,343
1,056
December
28, 2019
0.29
0.29
$ 24,977
16,830
8,147
7,049
2,128
1,394
(296)
1,030
669
361
5
(2)
356 S 1,935
3,178
1,197
702
$
5,077
3,070
1,361
(952)
2,661
728
1,933
1.59
1.58
December
29, 2018
S
26,268
17,347
8,921
S
3,190
7,008
8,928
19,126
(10,205)
1,284
(168)
(11,321)
(1,067)
(10,254)
(62)
$(10,192)
(8.36)
(8.36)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4186aca3-00db-446f-be92-73808f130208%2Fd7943fdc-374f-4944-a575-3e6d2bc41f5b%2Fso32bl_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Net sales
Cost of products sold
Gross profit
The Kraft Heinz Company
Consolidated Statements of Income
(in millions, except per share data)
Selling, general and administrative expenses, excluding
impairment losses
Goodwill impairment losses
Intangible asset impairment losses
Selling, general and administrative expenses
Operating income/(loss)
Interest expense
Other expense/(income)
Income/(loss) before income taxes
Provision for/(benefit from) income taxes
Net income/(loss)
Net income/(loss) attributable to noncontrolling interest
Net income/(loss) attributable to common shareholders
Per share data applicable to common shareholders:
Basic earnings/(loss)
Diluted earnings/(loss)
December
26, 2020
S 26,185
17,008
9,177
S
S
3,650
2,343
1,056
December
28, 2019
0.29
0.29
$ 24,977
16,830
8,147
7,049
2,128
1,394
(296)
1,030
669
361
5
(2)
356 S 1,935
3,178
1,197
702
$
5,077
3,070
1,361
(952)
2,661
728
1,933
1.59
1.58
December
29, 2018
S
26,268
17,347
8,921
S
3,190
7,008
8,928
19,126
(10,205)
1,284
(168)
(11,321)
(1,067)
(10,254)
(62)
$(10,192)
(8.36)
(8.36)
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