What is causing the volatility for this company? Is anything in this statement unusual or concerning and why? Net salesCost of products soldGross profitThe Kraft Heinz CompanyConsolidated Statements of Income(in millions, except per share data)Selling, general and administrative expenses, excludingimpairment lossesGoodwill impairment lossesIntangible asset impairment lossesSelling, general and administrative expensesOperating income/(loss)Interest expenseOther expense/(income)Income/(loss) before income taxesProvision for/(benefit from) income taxesNet income/(loss)Net income/(loss) attributable to noncontrolling interestNet income/(loss) attributable to common shareholdersPer share data applicable to common shareholders:Basic earnings/(loss)Diluted earnings/(loss)December26, 2020S 26,18517,0089,177SS3,6502,3431,056December28, 20190.290.29$ 24,97716,8308,1477,0492,1281,394(296)1,0306693615(2)356 S 1,9353,1781,197702$5,0773,0701,361(952)2,6617281,9331.591.58December29, 2018S26,26817,3478,921S3,1907,0088,92819,126(10,205)1,284(168)(11,321)(1,067)(10,254)(62)$(10,192)(8.36)(8.36)

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Accounting

What is causing the volatility for this company? Is anything in this statement unusual or concerning and why?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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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)

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