The Kraft Heinz Company (KHC) 10-Q/A 7 Nov 17 2017 Q2 Quarterly report (amended) Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jul. 01, 2017	Jul. 29, 2017
Document and Entity Information [Abstract]
Document Type	10-Q/A
Document Period End Date	Jul. 1, 2017
Amendment Flag	true
Amendment Description	The restatement relates to the application of accounting standards update (“ASU”) 2016-15. In August 2016, the Financial Accounting Standards Board (“FASB”) issued ASU 2016-15 related to the classification of certain cash payments and cash receipts on the statement of cash flows. ASU 2016-15 requires companies to classify cash receipts on sold receivables, or consideration received for beneficial interest obtained for transferring trade receivables in securitization transactions, within investing activities in the statement of cash flows. We early adopted ASU 2016-15 during the first quarter of 2017, and this classification should have been made within our statements of cash flows beginning with our Quarterly Report on Form 10-Q for the quarter ended April 1, 2017, including retrospective application. Our financial statements have been restated to correctly classify cash receipts from the payments on sold receivables (which are cash receipts on the underlying trade receivables that have already been securitized) to cash provided by investing activities (from cash provided by operating activities) within our condensed consolidated statements of cash flows.
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Entity Registrant Name	Kraft Heinz Co
Entity Central Index Key	1,637,459
Current Fiscal Year End Date	--12-30
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		1,218,251,122

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 01, 2017	Jul. 03, 2016	Jul. 01, 2017	Jul. 03, 2016
Income Statement [Abstract]
Net sales	$ 6,677	$ 6,793	$ 13,041	$ 13,363
Cost of products sold	3,996	4,262	8,059	8,454
Gross profit	2,681	2,531	4,982	4,909
Selling, general and administrative expenses	760	895	1,510	1,760
Operating income	1,921	1,636	3,472	3,149
Interest expense	307	264	620	513
Other expense/(income), net	24	6	12	(2)
Income/(loss) before income taxes	1,590	1,366	2,840	2,638
Provision for/(benefit from) income taxes	430	411	789	783
Net income/(loss)	1,160	955	2,051	1,855
Net income/(loss) attributable to noncontrolling interest	1	5	(1)	9
Net income/(loss) attributable to Kraft Heinz	1,159	950	2,052	1,846
Preferred dividends	0	180	0	180
Net income/(loss) attributable to common shareholders	$ 1,159	$ 770	$ 2,052	$ 1,666
Earnings Per Share [Abstract]
Basic earnings/(loss) per share (in dollars per share)	$ 0.95	$ 0.63	$ 1.69	$ 1.37
Diluted earnings/(loss) per share (in dollars per share)	0.94	0.63	1.67	1.36
Dividends declared (in dollars per share)	$ 0.6	$ 0.575	$ 1.2	$ 1.15

Condensed Consolidated Stateme3

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 01, 2017	Jul. 03, 2016	Jul. 01, 2017	Jul. 03, 2016
Statement of Comprehensive Income [Abstract]
Net income/(loss)	$ 1,160	$ 955	$ 2,051	$ 1,855
Other comprehensive income/(loss), net of tax:
Foreign currency translation adjustments	451	(418)	758	(146)
Net deferred gains/(losses) on net investment hedges	(152)	105	(203)	45
Net actuarial gains/(losses) arising during the period	1	0	(9)	0
Prior service credits/(costs) arising during the period	1	0	1	0
Reclassification of net postemployment benefit losses/(gains)	(154)	(50)	(209)	(104)
Net deferred gains/(losses) on cash flow hedges	(32)	(14)	(66)	(32)
Net deferred losses/(gains) on cash flow hedges reclassified to net income	26	4	46	(18)
Total other comprehensive income/(loss)	141	(373)	318	(255)
Total comprehensive income/(loss)	1,301	582	2,369	1,600
Comprehensive income/(loss) attributable to noncontrolling interest	1	5	(3)	16
Comprehensive income/(loss) attributable to Kraft Heinz	$ 1,300	$ 577	$ 2,372	$ 1,584

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jul. 01, 2017	Dec. 31, 2016
ASSETS
Cash and cash equivalents	$ 1,445	$ 4,204
Trade receivables (net of allowances of $28 at July 1, 2017 and $20 at December 31, 2016)	913	769
Sold receivables	521	129
Inventories	3,065	2,684
Other current assets	1,164	967
Total current assets	7,108	8,753
Property, plant and equipment, net	6,808	6,688
Goodwill	44,565	44,125
Intangible assets, net	59,400	59,297
Other assets	1,535	1,617
TOTAL ASSETS	119,416	120,480
LIABILITIES AND EQUITY
Commercial paper and other short-term debt	1,090	645
Current portion of long-term debt	19	2,046
Trade payables	3,888	3,996
Accrued marketing	494	749
Accrued postemployment costs	157	157
Income taxes payable	153	255
Interest payable	406	415
Other current liabilities	1,149	1,238
Total current liabilities	7,356	9,501
Long-term debt	29,979	29,713
Deferred income taxes	20,887	20,848
Accrued postemployment costs	1,975	2,038
Other liabilities	673	806
TOTAL LIABILITIES	60,870	62,906
Commitments and Contingencies (Note 13)
Equity:
Common stock, $0.01 par value (5,000,000,000 shares authorized; 1,220,835,141 shares issued and 1,218,183,383 shares outstanding at July 1, 2017; 1,218,947,088 shares issued and 1,216,475,740 shares outstanding at December 31, 2016)	12	12
Additional paid-in capital	58,674	58,593
Retained earnings/(deficit)	1,178	588
Accumulated other comprehensive income/(losses)	(1,308)	(1,628)
Treasury stock, at cost (2,651,758 shares at July 1, 2017 and 2,471,348 shares at December 31, 2016)	(223)	(207)
Total shareholders' equity	58,333	57,358
Noncontrolling interest	213	216
TOTAL EQUITY	58,546	57,574
TOTAL LIABILITIES AND EQUITY	$ 119,416	$ 120,480

Condensed Consolidated Balance5

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Jul. 01, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Trade receivables, allowances	$ 28	$ 20
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	5,000,000,000	5,000,000,000
Common stock, shares issued	1,220,835,141	1,218,947,088
Common stock, shares outstanding	1,218,183,383	1,216,475,740
Treasury stock	2,651,758	2,471,348

Condensed Consolidated Stateme6

Condensed Consolidated Statement of Equity - 6 months ended Jul. 01, 2017 - USD ($) $ in Millions	Total	Common Stock	Additional Paid-in Capital	Retained Earnings/(Deficit)	Accumulated Other Comprehensive Income/(Losses)	Treasury Stock	Noncontrolling Interest
Beginning balance at Dec. 31, 2016	$ 57,574	$ 12	$ 58,593	$ 588	$ (1,628)	$ (207)	$ 216
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income/(loss)	2,051			2,052			(1)
Other comprehensive income/(loss)	318				320		(2)
Dividends declared-common stock	(1,463)			(1,463)
Exercise of stock options, issuance of other stock awards, and other	66		81	1		(16)
Ending balance at Jul. 01, 2017	$ 58,546	$ 12	$ 58,674	$ 1,178	$ (1,308)	$ (223)	$ 213

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows (As Restated) - USD ($) $ in Millions	6 Months Ended
	Jul. 01, 2017	Jul. 03, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income/(loss)	$ 2,051	$ 1,855
Adjustments to reconcile net income/(loss) to operating cash flows:
Depreciation and amortization	517	720
Amortization of postretirement benefit plans prior service costs/(credits)	(171)	(131)
Equity award compensation expense	24	26
Deferred income tax provision/(benefit)	269	3
Pension contributions	(17)	(177)
Other items, net	(23)	(97)
Changes in current assets and liabilities:
Trade receivables	(1,598)	(994)
Inventories	(431)	(256)
Accounts payable	84	90
Other current assets	(121)	(68)
Other current liabilities	(762)	(72)
Net cash provided by/(used for) operating activities	(178)	899
CASH FLOWS FROM INVESTING ACTIVITIES:
Cash receipts on sold receivables	1,069	1,205
Capital expenditures	(690)	(514)
Other investing activities, net	44	62
Net cash provided by/(used for) investing activities	423	753
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments of long-term debt	(2,032)	(12)
Proceeds from issuance of long-term debt	0	6,982
Proceeds from issuance of commercial paper	4,213	1,939
Repayments of commercial paper	(3,777)	(1,307)
Dividends paid-Series A Preferred Stock	0	(180)
Dividends paid-common stock	(1,434)	(1,334)
Redemption of Series A Preferred Stock	0	(8,320)
Other financing activities, net	19	43
Net cash provided by/(used for) financing activities	(3,011)	(2,189)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	29	1
Cash, Cash Equivalents, and Restricted Cash [Abstract]
Net increase/(decrease)	(2,737)	(536)
Balance at beginning of period	4,255	4,912
Balance at end of period	1,518	4,376
Beneficial interest obtained in exchange for securitized trade receivables	$ 1,407	$ 1,036

Background and Basis of Present

Background and Basis of Presentation (Notes)	6 Months Ended
	Jul. 01, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Background and Basis of Presentation	Background and Basis of Presentation Basis of Presentation: Our interim condensed consolidated financial statements are unaudited. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) have been omitted, in accordance with the rules of the Securities and Exchange Commission (the “SEC”). In management’s opinion, these interim financial statements include all adjustments (consisting only of normal recurring adjustments) and accruals necessary to fairly state our results for the periods presented. The condensed consolidated balance sheet data at December 31, 2016 was derived from audited financial statements, but does not include all disclosures required by U.S. GAAP. You should read these statements in conjunction with our audited consolidated financial statements and related notes in our Annual Report on Form 10-K for the year ended December 31, 2016 . The results for interim periods are not necessarily indicative of future or annual results. Restatement of Unaudited Condensed Consolidated Financial Statements: We have restated our unaudited condensed consolidated financial statements to correct a misclassification within our condensed consolidated statements of cash flows. The restatement relates to the application of ASU 2016-15, which requires us to classify cash receipts on sold receivables, or consideration received for beneficial interest obtained for transferring trade receivables in securitization transactions, within investing activities, and which requires retrospective application. In addition, in accordance with ASU 2016-15, at inception of the beneficial interest obtained, the interest is no longer presented on a gross basis within net cash provided by/(used for) operating activities and has been disclosed as a non-cash activity. We early adopted ASU 2016-15 during the first quarter of 2017; however, we incorrectly continued to classify cash receipts on sold receivables within operating activities instead of investing activities. The effects of the restatement on the net cash provided by/(used for) operating activities and net cash provided by/(used for) investing activities of our unaudited condensed consolidated statements of cash flows for the six months ended July 1, 2017 and July 3, 2016 are as follows (in millions): For the Six Months Ended July 1, 2017 July 3, 2016 As Reported Adjustment As Restated As Reported Adjustment As Restated Trade receivables $ (139 ) $ (1,459 ) $ (1,598 ) $ (226 ) $ (768 ) $ (994 ) Sold receivables (390 ) 390 — 437 (437 ) — Net cash provided by/(used for) operating activities 891 (1,069 ) (178 ) 2,104 (1,205 ) 899 Cash receipts on sold receivables $ — $ 1,069 $ 1,069 $ — $ 1,205 $ 1,205 Net cash provided by/(used for) investing activities (646 ) 1,069 423 (452 ) 1,205 753 In connection with this restatement, we also corrected other immaterial cash flow misstatements within operating activities, which overstated the amount of beneficial interest obtained in the non-cash exchange from the securitization of trade receivables. There were no impacts to net cash provided by/(used for) financing activities within our unaudited condensed consolidated statements of cash flows and there was no impact on the net increase/(decrease) in cash, cash equivalents, and restricted cash resulting from restatement. The impacts of the restatements have been reflected throughout these unaudited financial statements, including the applicable footnotes, as appropriate. Organization: On July 2, 2015, through a series of transactions, we consummated the merger of Kraft Foods Group, Inc. (“Kraft”) with and into a wholly-owned subsidiary of H.J. Heinz Holding Corporation (“Heinz”) (the “2015 Merger”). At the closing of the 2015 Merger, Heinz was renamed The Kraft Heinz Company (“Kraft Heinz”). Before the consummation of the 2015 Merger, Heinz was controlled by Berkshire Hathaway Inc. and 3G Global Food Holdings, L.P. (“3G Capital”), following their acquisition of H. J. Heinz Company (the “2013 Merger”) on June 7, 2013. Accounting Standards Adopted in the Current Year: In March 2016, the FASB issued ASU 2016-09 related to equity-based award accounting and presentation. Under this guidance, excess tax benefits upon the exercise of share- based payment awards are recognized in our tax provision rather than within equity. Cash flows related to excess tax benefits are classified as operating activities rather than financing activities. Additionally, cash flows related to employee tax withholdings on restricted share vesting are classified as financing activities. This ASU became effective in the first quarter of 2017. We adopted the guidance related to excess tax benefits on a prospective basis. As a result, we recognized a tax benefit in our condensed consolidated statement of income of $8 million for the three months and $16 million for the six months ended July 1, 2017 related to our excess tax benefits upon the exercise of share-based payment awards. We retrospectively adopted the guidance related to cash flow classification of employee tax withholdings on restricted share vesting. This guidance did not have a material impact on our condensed consolidated statement of cash flows for the six months ended July 3, 2016 or on our consolidated statement of cash flows for the year ended December 31, 2016. Our equity award compensation cost continues to reflect estimated forfeitures. In August 2016, the FASB issued ASU 2016-15 related to the classification of certain cash payments and cash receipts on the statement of cash flows. This ASU provided guidance on eight specific cash flow classification matters, which must be adopted in the same period using a retrospective transition method. We early adopted this ASU in the first quarter of 2017. We now classify consideration received for beneficial interest obtained for transferring trade receivables in securitization transactions as investing activities instead of operating activities. Accordingly, we reclassified $1.2 billion of cash receipts from the payments on sold receivables (which are cash receipts on the underlying trade receivables that have already been securitized) to cash provided by investing activities (from cash provided by operating activities) for the six months ended July 3, 2016. The related impact of the classification of cash receipts on sold receivables on our consolidated statement of cash flows for the year ended December 31, 2016 was $2.6 billion . Additionally, we now classify cash payments for debt prepayment and debt extinguishment costs as cash outflows from financing activities rather than cash outflows from operating activities, which had no impact on our condensed consolidated statements of cash flows for the six months ended July 3, 2016 or our consolidated statement of cash flows for the year ended December 31, 2016. In November 2016, the FASB issued ASU 2016-18 requiring the statement of cash flows to explain the change in restricted cash and restricted cash equivalents, in addition to cash and cash equivalents. We early adopted this ASU in the first quarter of 2017. Accordingly, we restated our cash and cash equivalents balances in the condensed consolidated statements of cash flows to include restricted cash of $51 million at December 31, 2016 , $140 million at July 3, 2016 , and $75 million at January 3, 2016 . Additionally, cash used for investing activities decreased by $64 million for the six months ended July 3, 2016 and increased by $24 million for the year ended December 31, 2016. As required by the ASU, we have provided a reconciliation from cash and cash equivalents as presented on our condensed consolidated balance sheets to cash, cash equivalents, and restricted cash as reported on our condensed consolidated statements of cash flows. See Note 3, Restricted Cash , for this reconciliation, as well as a discussion of the nature of our restricted cash balances. Recently Issued Accounting Standards: In May 2014, the FASB issued ASU 2014-09, which superseded previously existing revenue recognition guidance. Under this ASU, companies will apply a principles-based five step model to recognize revenue upon the transfer of promised goods or services to customers and in an amount that reflects the consideration for which the company expects to be entitled to in exchange for those goods or services. This ASU will be effective beginning in the first quarter of our fiscal year 2018. The ASU may be applied using a full retrospective method or a modified retrospective transition method, with a cumulative-effect adjustment as of the date of adoption. We are still evaluating the impact this ASU will have on our financial statements and related disclosures. At this time, we believe the potential impacts on our existing accounting policies may be associated with our customer allowances programs. We will adopt this ASU on the first day of our fiscal year 2018. We are also still evaluating our application method. Our ability to adopt using the full retrospective method is dependent on a number of factors, including finalizing our assessment of information necessary to restate prior period financial statements. In February 2016, the FASB issued ASU 2016-02, which superseded previously existing leasing guidance. The ASU is intended to establish the principles that lessees and lessors shall apply to report useful information to users of financial statements about the amount, timing, and uncertainty of cash flows arising from a lease. The new guidance requires lessees to reflect most leases on their balance sheets as assets and obligations. This ASU will be effective beginning in the first quarter of our fiscal year 2019. Early adoption is permitted. The new guidance must be adopted using a modified retrospective transition, and provides for certain practical expedients. While we are still evaluating the impact this ASU will have on our financial statements and related disclosures, we have completed our scoping reviews and have made progress in our assessment phase. We have identified our significant leases by geography and by asset type as well as our leasing processes which will be impacted by the new standard. We have also made progress in developing the policy elections we will make upon adoption. We expect that our financial statement disclosures will be expanded to present additional details of our leasing arrangements. At this time, we are unable to reasonably estimate the expected increase in assets and liabilities on our condensed consolidated balance sheets upon adoption. We will adopt this ASU on the first day of our fiscal year 2019. In October 2016, the FASB issued ASU 2016-16 related to the income tax accounting impacts of intra-entity transfers of assets other than inventory , such as intellectual property and property, plant and equipment. Under the new accounting guidance, current and deferred income taxes should be recognized upon transfer of the assets. Previously, recognition of current and deferred income taxes was prohibited until the asset was sold to an external third party. This ASU will be effective beginning in the first quarter of our fiscal year 2018. Early adoption is permitted but must be adopted in the first interim period of the annual period for which the ASU is adopted. The new guidance must be adopted on a modified retrospective basis through a cumulative-effect adjustment to retained earnings as of the beginning of the adoption period. We will adopt this ASU on the first day of our fiscal year 2018. We currently anticipate a cumulative effect adjustment to retained earnings of approximately $100 million upon adoption. In January 2017, the FASB issued ASU 2017-04 related to goodwill impairment testing. This ASU eliminates Step 2 from the goodwill impairment test. Under the new guidance, if a reporting unit’s carrying amount exceeds its fair value, the entity will record an impairment charge based on that difference. The impairment charge will be limited to the amount of goodwill allocated to that reporting unit. Previously, if the fair value of a reporting unit was lower than its carrying amount (Step 1), an entity was required to calculate any impairment charge by comparing the implied fair value of goodwill with its carrying amount (Step 2). Additionally, under the new standard, entities that have reporting units with zero or negative carrying amounts will no longer be required to perform the qualitative assessment to determine whether to perform Step 2 of the goodwill impairment test. As a result, reporting units with zero or negative carrying amounts will generally be expected to pass the simplified impairment test; however, additional disclosure will be required of those entities. This ASU will be effective beginning in the first quarter of our fiscal year 2020. Early adoption is permitted for annual and interim goodwill impairment testing dates after January 1, 2017. The new guidance must be adopted on a prospective basis. While we are still evaluating the timing of adoption, we currently do not expect this ASU to have a material impact on our financial statements and related disclosures. In March 2017, the FASB issued ASU 2017-07 related to the presentation of net periodic benefit cost (pension and postretirement cost) . This ASU will be effective in the first quarter of our fiscal year 2018. Under the new guidance, the service cost component of net periodic benefit cost must be presented in the same statement of income line item as other employee compensation costs arising from services rendered by employees during the period. Other components of net periodic benefit cost must be disaggregated from the service cost component in the statements of income and must be presented outside the operating income subtotal. Additionally, only the service cost component will be eligible for capitalization in assets. The new guidance must be applied retrospectively for the statement of income presentation of service cost components and other net periodic benefit cost components and prospectively for the capitalization of service cost components. We will adopt this ASU on the first day of our fiscal year 2018. We are still evaluating the impact this ASU will have on our financial statements and related disclosures.

Integration and Restructuring E

Integration and Restructuring Expenses (Notes)	6 Months Ended
	Jul. 01, 2017
Restructuring and Related Activities [Abstract]
Integration and Restructuring Expenses	Integration and Restructuring Expenses As part of our restructuring activities, we incur expenses that qualify as exit and disposal costs under U.S. GAAP. These include severance and employee benefit costs and other exit costs. Severance and employee benefit costs primarily relate to cash severance, non-cash severance, including accelerated equity award compensation expense, and pension and other termination benefits. Other exit costs primarily relate to lease and contract terminations. We also incur expenses that are an integral component of, and directly attributable to, our restructuring activities, which do not qualify as exit and disposal costs under U.S. GAAP. These include asset-related costs and other implementation costs. Asset-related costs primarily relate to accelerated depreciation and asset impairment charges. Other implementation costs primarily relate to start-up costs of new facilities, professional fees, asset relocation costs, and costs to exit facilities. Employee severance and other termination benefit packages are primarily determined based on established benefit arrangements, local statutory requirements, or historical benefit practices. We recognize the contractual component of these benefits when payment is probable and estimable; additional elements of severance and termination benefits associated with non-recurring benefits are recognized ratably over each employee’s required future service period. Charges for accelerated depreciation are recognized on long-lived assets that will be taken out of service before the end of their normal service, in which case depreciation estimates are revised to reflect the use of the asset over its shortened useful life. Asset impairments establish a new fair value basis for assets held for disposal or sale and those assets are written down to expected net realizable value if carrying value exceeds fair value. All other costs are recognized as incurred. Integration Program: Following the 2015 Merger, we announced a multi-year program (the “Integration Program”) designed to reduce costs, streamline and simplify our operating structure as well as optimize our production and supply chain network across our businesses in the United States and Canada segments. We expect to incur pre-tax costs of $2.0 billion related to the Integration Program, with approximately 60% reflected in cost of products sold within our United States and Canada segments. These pre-tax costs are comprised of the following categories: • Organization costs ( $400 million ) associated with our plans to streamline and simplify our operating structure, resulting in workforce reduction (primarily severance and employee benefit costs). • Footprint costs ( $1.2 billion ) associated with our plans to optimize our production and supply chain network, resulting in workforce reduction and facility closures and consolidations (primarily asset-related costs and severance and employee benefit costs). • Other costs ( $400 million ) incurred as a direct result of integration activities, including other exit costs (primarily lease and contract terminations) and other implementation costs (primarily professional services and other third-party fees). Overall, as part of the Integration Program, we expect to eliminate 5,150 positions, close net six factories, and consolidate our distribution network. At July 1, 2017 , the total Integration Program liability related primarily to the elimination of general salaried and factory positions across the United States and Canada, 4,100 of whom have left the company by July 1, 2017 . Additionally, as of July 1, 2017 , we have closed net five factories. Related to the Integration Program, we recognized gains of $49 million for the three months and expenses of $78 million for the six months ended July 1, 2017 and expenses of $259 million for the three months and $500 million for the six months ended July 3, 2016 . As of July 1, 2017 , we have incurred approximately $1.8 billion of cumulative costs under the Integration Program, including $576 million of severance and employee benefit costs, $762 million of non-cash asset-related costs, $343 million of other implementation costs, and $113 million of other exit costs. We expect that approximately 60% of the Integration Program expenses will be cash expenditures. The net gain of $49 million in the current period was driven by a curtailment gain of $168 million , which was classified as Integration Program expenses and more than offset other such expenses for the period. The curtailment gain resulted from postretirement plan remeasurements. These remeasurements were triggered by the number of cumulative headcount reductions after the closure of certain U.S. factories in the second quarter of 2017. See Note 8, Postemployment Benefits , and Note 9, Accumulated Other Comprehensive Income/(Losses) , for the related curtailment gain. Our liability balance for Integration Program costs that qualify as exit and disposal costs under U.S. GAAP (i.e., severance and employee benefit costs and other exit costs), was (in millions): Severance and Employee Benefit Costs Other Exit Costs (a) Total Balance at December 31, 2016 $ 99 $ 10 $ 109 Charges/(credits) (105 ) 18 (87 ) Cash payments (47 ) (3 ) (50 ) Non-cash utilization 154 (4 ) 150 Balance at July 1, 2017 $ 101 $ 21 $ 122 (a) Other exit costs primarily consist of lease and contract terminations. We expect the liability for severance and employee benefit costs as of July 1, 2017 to be paid in 2017. The liability for other exit costs primarily relates to lease obligations associated with restructuring programs executed prior to the 2015 Merger. The cash impact of these obligations will continue for the duration of the lease terms, which expire between 2019 and 2026. Restructuring Activities: In addition to our Integration Program in North America, we have a small number of other restructuring programs globally, which are focused primarily on workforce reduction and factory closure and consolidation. Related to these programs, approximately 400 employees left the company during the six months ended July 1, 2017 . These programs resulted in expenses of $43 million for the three months ended July 1, 2017 , including $19 million of severance and employee benefit costs, $15 million of other implementation costs, and $9 million of other exit costs, and $64 million for the six months ended July 1, 2017 , including $29 million of severance and employee benefit costs, $1 million of non-cash asset-related costs, $25 million of other implementation costs, and $9 million of other exit costs. Such expenses totaled $25 million for the three months and $44 million for the six months ended July 3, 2016 . Our liability balance for restructuring project costs that qualify as exit and disposal costs under U.S. GAAP (i.e., severance and employee benefit costs and other exit costs), was (in millions): Severance and Employee Benefit Costs Other Exit Costs (a) Total Balance at December 31, 2016 $ 12 $ 25 $ 37 Charges/(credits) 29 9 38 Cash payments (25 ) (4 ) (29 ) Non-cash utilization (6 ) 1 (5 ) Balance at July 1, 2017 $ 10 $ 31 $ 41 (a) Other exit costs primarily consist of lease and contract terminations. We expect the liability for severance and employee benefit costs as of July 1, 2017 to be paid in 2017. The liability for other exit costs primarily relates to lease obligations associated with restructuring programs executed prior to the 2015 Merger. The cash impact of these obligations will continue for the duration of the lease terms, which expire between 2017 and 2026. Total Integration and Restructuring: Total expenses related to the Integration Program and restructuring activities recorded in cost of products sold and selling, general and administrative expenses (“SG&A”) for the years presented were (in millions): For the Three Months Ended For the Six Months Ended July 1, July 3, July 1, July 3, Severance and employee benefit costs - COGS $ (136 ) $ 23 $ (117 ) $ 29 Severance and employee benefit costs - SG&A 16 14 41 46 Asset-related costs - COGS 25 137 100 279 Asset-related costs - SG&A 6 12 13 26 Other costs - COGS 52 39 61 72 Other costs - SG&A 31 59 44 92 $ (6 ) $ 284 $ 142 $ 544 We do not include Integration Program and restructuring expenses within Segment Adjusted EBITDA (as defined in Note 15, Segment Reporting ). The pre-tax impact of allocating such expenses to our segments would have been (in millions): For the Three Months Ended For the Six Months Ended July 1, July 3, July 1, July 3, United States $ (65 ) $ 247 $ 43 $ 446 Canada 14 9 24 27 Europe 25 13 39 28 Rest of World 11 — 11 — General corporate expenses 9 15 25 43 $ (6 ) $ 284 $ 142 $ 544

Restricted Cash (Notes)

Restricted Cash (Notes)	6 Months Ended
	Jul. 01, 2017
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]
Restricted Cash	Restricted Cash The following table provides a reconciliation of cash and cash equivalents, as reported on our condensed consolidated balance sheets, to cash, cash equivalents, and restricted cash, as reported on our condensed consolidated statements of cash flows (in millions): July 1, 2017 December 31, 2016 Cash and cash equivalents $ 1,445 $ 4,204 Restricted cash included in other assets (current) 73 42 Restricted cash included in other assets (noncurrent) — 9 Cash, cash equivalents, and restricted cash $ 1,518 $ 4,255 Our restricted cash primarily relates to withholding taxes on our common stock dividends to our only significant international shareholder, 3G Capital.

Inventories (Notes)

Inventories (Notes)	6 Months Ended
	Jul. 01, 2017
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories at July 1, 2017 and December 31, 2016 were (in millions): July 1, 2017 December 31, 2016 Packaging and ingredients $ 678 $ 542 Work in process 495 388 Finished product 1,892 1,754 Inventories $ 3,065 $ 2,684 The increase in inventories in the second quarter of 2017 is primarily due to seasonality as well as higher key commodity costs within the U.S.

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Notes)	6 Months Ended
	Jul. 01, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets Goodwill: Changes in the carrying amount of goodwill, by segment, were (in millions): United States Canada Europe Rest of World Total Balance at December 31, 2016 $ 33,696 $ 4,913 $ 2,778 $ 2,738 $ 44,125 Translation adjustments — 177 168 95 440 Balance at July 1, 2017 $ 33,696 $ 5,090 $ 2,946 $ 2,833 $ 44,565 We test goodwill for impairment at least annually in the second quarter or when a triggering event occurs. We performed our 2017 annual impairment test as of April 2, 2017. As a result of our 2017 annual impairment test, there was no impairment of goodwill. Each of our goodwill reporting units had excess fair value over its carrying value of at least 10% as of April 2, 2017. Our goodwill balance consists of 18 reporting units and had an aggregate carrying value of $44.6 billion as of July 1, 2017 . As a majority of our goodwill was recently recorded in connection with the 2013 Merger and the 2015 Merger, representing fair values as of those merger dates, there was not a significant excess of fair values over carrying values as of April 2, 2017. We have a risk of future impairment to the extent that individual reporting unit performance does not meet our projections. Additionally, if our current assumptions and estimates, including projected revenues and income growth rates, terminal growth rates, competitive and consumer trends, market-based discount rates, and other market factors, are not met, or if valuation factors outside of our control change unfavorably, the estimated fair value of our goodwill could be adversely affected, leading to a potential impairment in the future. There were no accumulated impairment losses to goodwill as of July 1, 2017 . Indefinite-lived intangible assets: Indefinite-lived intangible assets, which primarily consisted of trademarks, were (in millions): Balance at December 31, 2016 $ 53,307 Translation adjustments 237 Impairment losses on indefinite-lived intangible assets (48 ) Balance at July 1, 2017 $ 53,496 We test indefinite-lived intangible assets for impairment at least annually in the second quarter or when a triggering event occurs. We performed our 2017 annual impairment test as of April 2, 2017. As a result of our 2017 annual impairment test, we recognized a non-cash impairment loss of $48 million in SG&A for the three and six months ended July 1, 2017 . This loss was due to continued declines in nutritional beverages in India. The loss was recorded in our Europe segment as the related trademark is owned by our Italian subsidiary. Each of our other brands had excess fair value over its carrying value of at least 10% as of April 2, 2017. Our indefinite-lived intangible assets primarily consist of a large number of individual brands and had an aggregate carrying value of $53.5 billion as of July 1, 2017 . As a majority of our indefinite-lived intangible assets were recently recorded in connection with the 2013 Merger and the 2015 Merger, representing fair values as of those merger dates, there was not a significant excess of fair values over carrying values as of April 2, 2017. We have a risk of future impairment to the extent individual brand performance does not meet our projections. Additionally, if our current assumptions and estimates, including projected revenues and income growth rates, terminal growth rates, competitive and consumer trends, market-based discount rates, and other market factors, are not met, or if valuation factors outside of our control change unfavorably, the estimated fair values of our indefinite-lived intangible assets could be adversely affected, leading to potential impairments in the future. Definite-lived intangible assets: Definite-lived intangible assets were (in millions): July 1, 2017 December 31, 2016 Gross Accumulated Amortization Net Gross Accumulated Amortization Net Trademarks $ 2,362 $ (226 ) $ 2,136 $ 2,337 $ (172 ) $ 2,165 Customer-related assets 4,216 (458 ) 3,758 4,184 (369 ) 3,815 Other 14 (4 ) 10 13 (3 ) 10 $ 6,592 $ (688 ) $ 5,904 $ 6,534 $ (544 ) $ 5,990 Amortization expense for definite-lived intangible assets was $77 million for the three months and $144 million for the six months ended July 1, 2017 and was $66 million for the three months and $132 million for the six months ended July 3, 2016 . Aside from amortization expense, the changes in definite-lived intangible assets from December 31, 2016 to July 1, 2017 reflect the impact of foreign currency. We estimate that annual amortization expense for definite-lived intangible assets for each of the next five years will be approximately $270 million .

Income Taxes (Notes)

Income Taxes (Notes)	6 Months Ended
	Jul. 01, 2017
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The provision for income taxes consists of provisions for federal, state, and foreign income taxes. We operate in an international environment; accordingly, the consolidated effective tax rate is a composite rate reflecting the earnings in various locations and the applicable tax rates. Additionally, our quarterly income tax provision is determined based on our estimated full year effective tax rate, adjusted for tax attributable to infrequent or unusual items, which are recognized on a discrete period basis in the income tax provision for the period in which they occur. Our effective tax rate was 27.1% for the three months ended July 1, 2017 compared to 30.1% for the three months ended July 3, 2016 . The decrease in our effective tax rate was driven by the favorable impact of net discrete items, primarily related to reversals of uncertain tax position reserves in the U.S., and a favorable mix of income among our foreign subsidiaries. The favorable impact of current year net discrete items and foreign subsidiary income mix was partially offset by the unfavorable impact of a higher percentage of U.S. income reflected in our estimated full year effective tax rate for 2017 compared to 2016. Our effective tax rate was 27.8% for the six months ended July 1, 2017 compared to 29.7% for the six months ended July 3, 2016 . The decrease in our effective tax rate was driven by the favorable impact of net discrete items, primarily related to reversals of uncertain tax position reserves in foreign jurisdictions and the U.S., and a favorable mix of income among our foreign subsidiaries. The favorable impact of current year net discrete items and foreign subsidiary income mix was partially offset by the unfavorable impact of a higher percentage of U.S. income reflected in our estimated full year effective tax rate for 2017 compared to 2016.

Employees' Stock Incentive Plan

Employees' Stock Incentive Plans (Notes)	6 Months Ended
	Jul. 01, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Employees' Stock Incentive Plans	Employees’ Stock Incentive Plans Our annual equity award grants and vesting occurred in the first quarter of 2017. Other off-cycle equity grants may occur throughout the year. Stock Options: Our stock option activity and related information was: Number of Stock Options Weighted Average Exercise Price Outstanding at December 31, 2016 20,560,140 $ 37.39 Granted 1,219,904 91.40 Forfeited (387,121 ) 51.18 Exercised (1,761,346 ) 32.65 Outstanding at July 1, 2017 19,631,577 40.91 The aggregate intrinsic value of stock options exercised during the period was $103 million for the six months ended July 1, 2017 . Restricted Stock Units: Our restricted stock unit (“RSU”) activity and related information was: Number of Units Weighted Average Grant Date Fair Value (per share) Outstanding at December 31, 2016 806,744 $ 71.95 Granted 1,670,051 85.03 Forfeited (146,922 ) 82.38 Vested (126,707 ) 72.96 Outstanding at July 1, 2017 2,203,166 81.37 The aggregate fair value of RSUs that vested during the period was $11 million for the six months ended July 1, 2017 .

Postemployment Benefits (Notes)

Postemployment Benefits (Notes)	6 Months Ended
	Jul. 01, 2017
Retirement Benefits [Abstract]
Postemployment Benefits	Postemployment Benefits Pension Plans Components of Net Pension Cost/(Benefit): Net pension cost/(benefit) consisted of the following (in millions): For the Three Months Ended For the Six Months Ended U.S. Plans Non-U.S. Plans U.S. Plans Non-U.S. Plans July 1, July 3, July 1, July 3, July 1, July 3, July 1, July 3, Service cost $ 2 $ 4 $ 4 $ 6 $ 5 $ 7 $ 8 $ 12 Interest cost 46 53 16 22 91 106 32 43 Expected return on plan assets (66 ) (74 ) (43 ) (47 ) (131 ) (148 ) (86 ) (93 ) Amortization of unrecognized losses/(gains) — — 1 — — — 1 — Settlements — — — — — (6 ) — — Special/contractual termination benefits 6 — 2 — 13 — 8 — Other — — — — 2 — (9 ) — Net pension cost/(benefit) $ (12 ) $ (17 ) $ (20 ) $ (19 ) $ (20 ) $ (41 ) $ (46 ) $ (38 ) We capitalized a portion of net pension cost/(benefit) into inventory based on our production activities. These amounts are included in the table above. Employer Contributions: During the first six months of 2017, we contributed $17 million to our non-U.S. pension plans. We did no t contribute to our U.S. pension plans in the first six months of 2017. Based on our contribution strategy, we plan to make further contributions of approximately $150 million to our U.S. plans and approximately $40 million to our non-U.S. plans during the remainder of 2017. However, our actual contributions and plans may change due to many factors, including timing of regulatory approval for the windup of our Canadian plans; changes in tax, employee benefit, or other laws; tax deductibility; significant differences between expected and actual pension asset performance or interest rates; or other factors. Postretirement Plans Components of Net Postretirement Cost/(Benefit): Net postretirement cost/(benefit) consisted of the following (in millions): For the Three Months Ended For the Six Months Ended July 1, July 3, July 1, July 3, Service cost $ 3 $ 4 $ 5 $ 8 Interest cost 12 14 25 30 Amortization of prior service costs/(credits) (83 ) (80 ) (173 ) (162 ) Curtailments (168 ) — (168 ) — Net postretirement cost/(benefit) $ (236 ) $ (62 ) $ (311 ) $ (124 ) We capitalized a portion of net postretirement cost/(benefit) into inventory based on our production activities. These amounts are included in the table above. In the second quarter of 2017, we remeasured certain of our postretirement plans and recognized a curtailment gain of $168 million . These remeasurements were triggered by the number of cumulative headcount reductions after the closure of certain U.S. factories in the second quarter of 2017. The headcount reductions were part of our ongoing Integration Program. See Note 2, Integration and Restructuring Expenses , for additional information.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income/(Losses) (Notes)	6 Months Ended
	Jul. 01, 2017
Equity [Abstract]
Accumulated Other Comprehensive Income/(Losses)	Accumulated Other Comprehensive Income/(Losses) The components of, and changes in, accumulated other comprehensive income/(losses), net of tax, were as follows (in millions): Foreign Currency Translation Adjustments Net Postemployment Benefit Plan Adjustments Net Cash Flow Hedge Adjustments Total Balance as of December 31, 2016 $ (2,412 ) $ 772 $ 12 $ (1,628 ) Foreign currency translation adjustments 760 — — 760 Net deferred gains/(losses) on net investment hedges (203 ) — — (203 ) Net postemployment benefit gains/(losses) arising during the period — (8 ) — (8 ) Reclassification of net postemployment benefit losses/(gains) — (209 ) — (209 ) Net deferred gains/(losses) on cash flow hedges — — (66 ) (66 ) Net deferred losses/(gains) on cash flow hedges reclassified to net income — — 46 46 Total other comprehensive income/(loss) 557 (217 ) (20 ) 320 Balance as of July 1, 2017 $ (1,855 ) $ 555 $ (8 ) $ (1,308 ) Reclassification of net postemployment benefit losses/(gains) included amounts reclassified to net income and amounts reclassified into inventory (consistent with our capitalization policy). The gross amount and related tax benefit/(expense) recorded in, and associated with, each component of other comprehensive income/(loss) were as follows (in millions): For the Three Months Ended July 1, July 3, Before Tax Amount Tax Net of Tax Amount Before Tax Amount Tax Net of Tax Amount Foreign currency translation adjustments $ 451 $ — $ 451 $ (418 ) $ — $ (418 ) Net deferred gains/(losses) on net investment hedges (290 ) 138 (152 ) 194 (89 ) 105 Net actuarial gains/(losses) arising during the period 2 (1 ) 1 — — — Prior service credits/(costs) arising during the period 2 (1 ) 1 — — — Reclassification of net postemployment benefit losses/(gains) (250 ) 96 (154 ) (80 ) 30 (50 ) Net deferred gains/(losses) on cash flow hedges (32 ) — (32 ) (17 ) 3 (14 ) Net deferred losses/(gains) on cash flow hedges reclassified to net income 28 (2 ) 26 6 (2 ) 4 For the Six Months Ended July 1, July 3, Before Tax Amount Tax Net of Tax Amount Before Tax Amount Tax Net of Tax Amount Foreign currency translation adjustments $ 760 $ — $ 760 $ (153 ) $ — $ (153 ) Net deferred gains/(losses) on net investment hedges (368 ) 165 (203 ) 110 (65 ) 45 Net actuarial gains/(losses) arising during the period (10 ) 1 (9 ) — — — Prior service credits/(costs) arising during the period 2 (1 ) 1 — — — Reclassification of net postemployment benefit losses/(gains) (340 ) 131 (209 ) (168 ) 64 (104 ) Net deferred gains/(losses) on cash flow hedges (71 ) 5 (66 ) (45 ) 13 (32 ) Net deferred losses/(gains) on cash flow hedges reclassified to net income 45 1 46 (20 ) 2 (18 ) The amounts reclassified from accumulated other comprehensive income/(losses) were as follows (in millions): Accumulated Other Comprehensive Income/(Losses) Component Reclassified from Accumulated Other Comprehensive Income/(Losses) Affected Line Item in the Statement Where Net Income/(Loss) is Presented For the Three Months Ended For the Six Months Ended July 1, July 3, July 1, July 3, Losses/(gains) on cash flow hedges: Foreign exchange contracts $ — $ (2 ) $ — $ (3 ) Net sales Foreign exchange contracts (4 ) (4 ) (3 ) (33 ) Cost of products sold Foreign exchange contracts 31 11 46 14 Other expense/(income), net Interest rate contracts 1 1 2 2 Interest expense Losses/(gains) on cash flow hedges before income taxes 28 6 45 (20 ) Losses/(gains) on cash flow hedges, income taxes (2 ) (2 ) 1 2 Losses/(gains) on cash flow hedges $ 26 $ 4 $ 46 $ (18 ) Losses/(gains) on postemployment benefits: Amortization of unrecognized losses/(gains) $ 1 $ — $ 1 $ — (a) Amortization of prior service costs/(credits) (83 ) (80 ) (173 ) (162 ) (a) Settlement and curtailments losses/(gains) (168 ) — (168 ) (6 ) (a) Losses/(gains) on postemployment benefits before income taxes (250 ) (80 ) (340 ) (168 ) Losses/(gains) on postemployment benefits, income taxes 96 30 131 64 Losses/(gains) on postemployment benefits $ (154 ) $ (50 ) $ (209 ) $ (104 ) (a) These components are included in the computation of net periodic postemployment benefit costs. See Note 8, Postemployment Benefits , for additional information. In this note we have excluded activity and balances related to noncontrolling interest (which was primarily comprised of foreign currency translation adjustments) due to its insignificance.

Financial Instruments (Notes)

Financial Instruments (Notes)	6 Months Ended
	Jul. 01, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Financial Instruments	Financial Instruments See our consolidated financial statements and related notes in our Annual Report on Form 10-K for the year ended December 31, 2016 for additional information on our overall risk management strategies, our use of derivatives, and our related accounting policies. Derivative Volume: The notional values of our derivative instruments were (in millions): Notional Amount July 1, 2017 December 31, 2016 Commodity contracts $ 473 $ 459 Foreign exchange contracts 3,676 2,997 Cross-currency contracts 2,950 3,173 Fair Value of Derivative Instruments: The fair values and the levels within the fair value hierarchy of derivative instruments recorded on the consolidated balance sheets were (in millions): July 1, 2017 Quoted Prices in Active Markets for Identical Assets and Liabilities Significant Other Observable Inputs Significant Unobservable Inputs Total Fair Value Assets Liabilities Assets Liabilities Assets Liabilities Assets Liabilities Derivatives designated as hedging instruments: Foreign exchange contracts $ — $ — $ 12 $ 32 $ — $ — $ 12 $ 32 Cross-currency contracts — — 439 — — — 439 — Derivatives not designated as hedging instruments: Commodity contracts 15 26 1 1 — — 16 27 Foreign exchange contracts — — 21 1 — — 21 1 Cross-currency contracts — — — — — — — — Total fair value $ 15 $ 26 $ 473 $ 34 $ — $ — $ 488 $ 60 December 31, 2016 Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Fair Value Assets Liabilities Assets Liabilities Assets Liabilities Assets Liabilities Derivatives designated as hedging instruments: Foreign exchange contracts $ — $ — $ 69 $ 13 $ — $ — $ 69 $ 13 Cross-currency contracts — — 580 36 — — 580 36 Derivatives not designated as hedging instruments: Commodity contracts 28 7 — — — — 28 7 Foreign exchange contracts — — 35 30 — — 35 30 Cross-currency contracts — — 44 — — — 44 — Total fair value $ 28 $ 7 $ 728 $ 79 $ — $ — $ 756 $ 86 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 consolidated balance sheets. If the derivative financial instruments had been netted on the consolidated balance sheets, the asset and liability positions each would have been reduced by $44 million at July 1, 2017 and $67 million at December 31, 2016 . No material amounts of collateral were received or posted on our derivative assets and liabilities at July 1, 2017 . Level 1 financial assets and liabilities consist of commodity future and options contracts and are valued using quoted prices in active markets for identical assets and liabilities. Level 2 financial assets and liabilities consist of commodity forwards, foreign exchange forwards, and cross-currency swaps. Commodity forwards are valued using an income approach based on the observable market commodity index prices less the contract rate multiplied by the notional amount. Foreign exchange forwards are valued using an income approach based on observable market forward rates less the contract rate multiplied by the notional amount. Cross-currency swaps are valued based on observable market spot and swap rates. Our calculation of the fair value of financial instruments takes into consideration the risk of nonperformance, including counterparty credit risk. There have been no transfers between Levels 1, 2, and 3 in any period presented. The fair values of our derivative assets are recorded within other current assets and other assets. The fair values of our liability derivatives are recorded within other current liabilities and other liabilities. Net Investment Hedging: At July 1, 2017 , the principal amounts of foreign denominated debt designated as net investment hedges totaled €2,550 million and £400 million . At July 1, 2017 , our cross-currency swaps designated as net investment hedges consisted of: Instrument Notional (local) (in billions) Notional (USD) (in billions) Maturity Cross-currency swap £ 0.8 $ 1.4 October 2019 Cross-currency swap C$ 1.8 $ 1.6 December 2019 We also periodically enter into shorter-dated foreign exchange contracts that are designated as net investment hedges. At July 1, 2017 , we had three Chinese renminbi foreign exchange contracts with an aggregate USD notional amount of $204 million . Hedge Coverage: At July 1, 2017 , we had entered into contracts designated as hedging instruments, which hedge transactions for the following durations: • foreign exchange contracts for periods not exceeding the next 14 months; and • cross-currency contracts for periods not exceeding the next three years. At July 1, 2017 , we had entered into contracts not designated as hedging instruments, which hedge economic risks for the following durations: • commodity contracts for periods not exceeding the next 15 months; and • foreign exchange contracts for periods not exceeding the next eight months. Hedge Ineffectiveness: We record pre-tax gains or losses reclassified from accumulated other comprehensive income/(losses) due to ineffectiveness for foreign exchange contracts related to forecasted transactions in other expense/(income), net. Deferred Hedging Gains and Losses: Based on our valuation at July 1, 2017 and assuming market rates remain constant through contract maturities, we expect transfers to net income/(loss) of unrealized gains for foreign currency cash flow hedges during the next 12 months to be insignificant. Additionally, we expect transfers to net income/(loss) of unrealized losses for interest rate cash flow hedges during the next 12 months to be insignificant. Derivative Impact on the Statements of Income and Statements of Comprehensive Income: The following tables present the pre-tax effect of derivative instruments on the consolidated statements of income and statements of comprehensive income: For the Three Months Ended July 1, July 3, Commodity Contracts Foreign Exchange Cross-Currency Contracts Interest Rate Contracts Commodity Contracts Foreign Exchange Cross-Currency Contracts Interest Rate (in millions) Derivatives designated as hedging instruments: Cash flow hedges: Gains/(losses) recognized in other comprehensive income/(loss) (effective portion) $ — $ (32 ) $ — $ — $ — $ (9 ) $ — $ (8 ) Net investment hedges: Gains/(losses) recognized in other comprehensive income/(loss) (effective portion) — (8 ) (66 ) — — 46 90 — Total gains/(losses) recognized in other comprehensive income/(loss) (effective portion) $ — $ (40 ) $ (66 ) $ — $ — $ 37 $ 90 $ (8 ) Cash flow hedges reclassified to net income/(loss): Net sales $ — $ — $ — $ — $ — $ 2 $ — $ — Cost of products sold (effective portion) — 4 — — — 4 — — Other expense/(income), net — (31 ) — — — (11 ) — — Interest expense — — — (1 ) — — — (1 ) — (27 ) — (1 ) — (5 ) — (1 ) Derivatives not designated as hedging instruments: Gains/(losses) on derivatives recognized in cost of products sold — — — — 29 — — — Gains/(losses) on derivatives recognized in other expense/(income), net — 26 (1 ) — — 18 (1 ) — — 26 (1 ) — 29 18 (1 ) — Total gains/(losses) recognized in statements of income $ — $ (1 ) $ (1 ) $ (1 ) $ 29 $ 13 $ (1 ) $ (1 ) For the Six Months Ended July 1, July 3, Commodity Contracts Foreign Exchange Contracts Cross-Currency Contracts Interest Rate Contracts Commodity Contracts Foreign Exchange Contracts Cross-Currency Contracts Interest Rate Contracts (in millions) Derivatives designated as hedging instruments: Cash flow hedges: Gains/(losses) recognized in other comprehensive income/(loss) (effective portion) $ — $ (71 ) $ — $ — $ — $ (37 ) $ — $ (8 ) Net investment hedges: Gains/(losses) recognized in other comprehensive income/(loss) (effective portion) — (12 ) (96 ) — — 46 25 — Total gains/(losses) recognized in other comprehensive income/(loss) (effective portion) $ — $ (83 ) $ (96 ) $ — $ — $ 9 $ 25 $ (8 ) Cash flow hedges reclassified to net income/(loss): Net sales $ — $ — $ — $ — $ — $ 3 $ — $ — Cost of products sold (effective portion) — 3 — — — 33 — — Other expense/(income), net — (46 ) — — — (14 ) — — Interest expense — — — (2 ) — — — (2 ) — (43 ) — (2 ) — 22 — (2 ) Derivatives not designated as hedging instruments: Gains/(losses) on derivatives recognized in cost of products sold (37 ) — — — 11 — — — Gains/(losses) on derivatives recognized in other expense/(income), net — 28 (2 ) — — (57 ) (8 ) — (37 ) 28 (2 ) — 11 (57 ) (8 ) — Total gains/(losses) recognized in statements of income $ (37 ) $ (15 ) $ (2 ) $ (2 ) $ 11 $ (35 ) $ (8 ) $ (2 ) Related to our non-derivative, foreign denominated debt instruments designated as net investment hedges, we recognized pre-tax losses in other comprehensive income/(loss) of $216 million for the three months and $260 million for the six months ended July 1, 2017 , and we recognized pre-tax gains in other comprehensive income/(loss) of $58 million for the three months and $39 million for the six months ended July 3, 2016 .

Financing Arrangements (Notes)

Financing Arrangements (Notes)	6 Months Ended
	Jul. 01, 2017
Transfers and Servicing [Abstract]
Financing Arrangements	Financing Arrangements We utilize accounts receivable securitization and factoring programs (the “Programs”) globally for our working capital needs and to provide efficient liquidity. We operate these Programs such that we generally utilize the majority of the available aggregate cash consideration limits. We account for transfers of receivables pursuant to the Programs as a sale and remove them from our condensed consolidated balance sheets. Under the Programs, we generally receive cash consideration up to a certain limit and record a non-cash exchange for sold receivables for the remainder of the purchase price. We maintain a “beneficial interest,” or a right to collect cash, in the sold receivables. Cash receipts from the payments on sold receivables (which are cash receipts on the underlying trade receivables that have already been securitized in these Programs) is classified as investing activities and presented as cash receipts on sold receivables on our condensed consolidated statements of cash flows. These cash receipts represent the consideration received for beneficial interest obtained for transferring trade receivables in securitization transactions. The carrying value of trade receivables removed from our condensed consolidated balance sheets in connection with the Programs was $1.1 billion at July 1, 2017 and $1.0 billion at December 31, 2016. The carrying value of the sold receivables, which approximated the fair value, was $521 million at July 1, 2017 and $129 million at December 31, 2016. See Note 14, Financing Arrangements , to our consolidated financial statements for the year ended December 31, 2016 in our Annual Report on Form 10-K for additional information on the Programs.

Venezuela - Foreign Currency an

Venezuela - Foreign Currency and Inflation (Notes)	6 Months Ended
	Jul. 01, 2017
Foreign Currency [Abstract]
Venezuela - Foreign Currency and Inflation	Venezuela - Foreign Currency and Inflation We apply highly inflationary accounting to the results of our Venezuelan subsidiary and include these results in our consolidated financial statements. Our results of operations in Venezuela reflect a controlled subsidiary. We continue to have sufficient currency liquidity and pricing flexibility to run our operations. However, the continuing economic uncertainty, strict labor laws, and evolving government controls over imports, prices, currency exchange, and payments present a challenging operating environment. Increased restrictions imposed by the Venezuelan government or further deterioration of the economic environment could impact our ability to control our Venezuelan operations and could lead us to deconsolidate our Venezuelan subsidiary in the future. At July 1, 2017 , there were two exchange rates legally available to us for converting Venezuelan bolivars to U.S. dollars, including: • the official exchange rate of BsF 10 per U.S. dollar available through the Sistema de Divisa Protegida (“DIPRO”), which is available for purchases and sales of essential items, including food products; and • an alternative exchange rate available through the Sistema de Divisa Complementaria (“DICOM”), which is available for all transactions not covered by DIPRO. We have had no settlements at the DIPRO rate of BsF 10 per U.S. dollar in 2017. At July 1, 2017 , we had outstanding requests of $26 million for payment of invoices for the purchase of ingredients and packaging materials for the years 2012 through 2015, all of which were requested for payment at BsF 6.30 per U.S. dollar (the official exchange rate until March 10, 2016). We have had access to U.S. dollars at DICOM rates in 2017. As of July 1, 2017 , we believe the DICOM rate is the most appropriate legally available rate at which to translate the results of our Venezuelan subsidiary. In the second quarter of 2017, the Venezuelan government implemented changes to move DICOM from a free-floating exchange format to an auction-based system. The first auction in May 2017 resulted in a new published exchange rate of BsF 2,010 per U.S. dollar. Since then, the DICOM rate has increasingly deteriorated and was BsF 2,640 at July 1, 2017 . Published DICOM rates averaged BsF 1,303 per U.S. dollar for the three months and BsF 1,013 per U.S. dollar for the six months ended July 1, 2017 . During the six months ended July 1, 2017 , we remeasured the monetary assets and liabilities, as well as the operating results, of our Venezuelan subsidiary at DICOM rates. This remeasurement resulted in a nonmonetary currency devaluation loss of $25 million for the three months and $33 million for the six months ended July 1, 2017 , which were recorded in other expense/(income), net, in the condensed consolidated statements of income for the periods then ended. In the second quarter of 2016, we assessed the nonmonetary assets of our Venezuelan subsidiary for impairment, resulting in a $53 million loss to write down property, plant and equipment, net, and prepaid spare parts, which was recorded within cost of products sold in the condensed consolidated statements of income for the periods then ended. We continue to monitor the DICOM rate, and the nonmonetary assets supported by the underlying operations in Venezuela, for impairment.

Commitments, Contingencies and

Commitments, Contingencies and Debt (Notes)	6 Months Ended
	Jul. 01, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments, Contingencies and Debt	Commitments, Contingencies and Debt Legal Proceedings We are routinely involved in legal proceedings, claims, and governmental inquiries, inspections or investigations (“Legal Matters”) arising in the ordinary course of our business. On April 1, 2015, the Commodity Futures Trading Commission (“CFTC”) filed a formal complaint against Mondelēz International (formerly known as Kraft Foods Inc.) and Kraft in the U.S. District Court for the Northern District of Illinois, Eastern Division, related to activities involving the trading of December 2011 wheat futures contracts. The complaint alleges that Mondelēz International and Kraft (1) manipulated or attempted to manipulate the wheat markets during the fall of 2011, (2) violated position limit levels for wheat futures, and (3) engaged in non-competitive trades by trading both sides of exchange-for-physical Chicago Board of Trade wheat contracts. As previously disclosed by Kraft, these activities arose prior to the October 1, 2012 spin-off of Kraft by Mondelēz International to its shareholders and involve the business now owned and operated by Mondelēz International or its affiliates. The Separation and Distribution Agreement between Kraft and Mondelēz International, dated as of September 27, 2012, governs the allocation of liabilities between Mondelēz International and Kraft and, accordingly, Mondelēz International will predominantly bear the costs of this matter and any monetary penalties or other payments that the CFTC may impose. We do not expect this matter to have a material adverse effect on our financial condition, results of operations, or business. While we cannot predict with certainty the results of Legal Matters in which we are currently involved or may in the future be involved, we do not expect that the ultimate costs to resolve any of the Legal Matters that are currently pending will have a material adverse effect on our financial condition or results of operations. Debt Borrowing Arrangements: We had commercial paper outstanding of $1.1 billion at July 1, 2017 and $642 million at December 31, 2016 . See Note 11, Debt , to our consolidated financial statements for the year ended December 31, 2016 in our Annual Report on Form 10-K for additional information on our borrowing arrangements. Long-Term Debt: We repaid $2.0 billion aggregate principal amount of senior notes that matured in the second quarter of 2017. We funded these long-term debt repayments primarily with cash on hand and our commercial paper programs. In the second quarter of 2016, we issued new long-term debt and used the proceeds to redeem all outstanding shares of our 9.00% cumulative compounding preferred stock, Series A (“Series A Preferred Stock”) on June 7, 2016. We incurred costs related to the issuance of our long-term debt of $52 million , which is reflected as a direct deduction of our long-term debt balance on the consolidated balance sheet at December 31, 2016 . Fair Value of Debt: At July 1, 2017 , the aggregate fair value of our total debt was $32.3 billion as compared with a carrying value of $31.1 billion . At December 31, 2016 , the aggregate fair value of our total debt was $33.2 billion as compared with a carrying value of $32.4 billion . Our short-term debt and commercial paper had carrying values that approximated their fair values at July 1, 2017 and December 31, 2016 . We determined the fair value of our long-term debt using Level 2 inputs. Fair values are generally estimated based on quoted market prices for identical or similar instruments. Series A Preferred Stock: As noted above, in the second quarter of 2016, we redeemed all outstanding shares of our Series A Preferred Stock. We funded this redemption primarily through the issuance of long-term debt, as well as other sources of liquidity, including our commercial paper program, U.S. securitization program, and cash on hand. In connection with the redemption, all Series A Preferred Stock was canceled and automatically retired, and we no longer pay any associated dividends.

Earnings Per Share (Notes)

Earnings Per Share (Notes)	6 Months Ended
	Jul. 01, 2017
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Our earnings per common share (“EPS”) were: For the Three Months Ended For the Six Months Ended July 1, July 3, July 1, July 3, (in millions, except per share amounts) Basic Earnings Per Common Share: Net income/(loss) attributable to common shareholders $ 1,159 $ 770 $ 2,052 $ 1,666 Weighted average shares of common stock outstanding 1,218 1,217 1,218 1,216 Net earnings/(loss) $ 0.95 $ 0.63 $ 1.69 $ 1.37 Diluted Earnings Per Common Share: Net income/(loss) attributable to common shareholders $ 1,159 $ 770 $ 2,052 $ 1,666 Weighted average shares of common stock outstanding 1,218 1,217 1,218 1,216 Effect of dilutive equity awards 11 10 11 10 Weighted average shares of common stock outstanding, including dilutive effect 1,229 1,227 1,229 1,226 Net earnings/(loss) $ 0.94 $ 0.63 $ 1.67 $ 1.36 We use the treasury stock method to calculate the dilutive effect of outstanding equity awards in the denominator for diluted EPS. Anti-dilutive shares were 1 million for the three months and 1 million for six months ended July 1, 2017 and were 3 million for the three months and 2 million for the six months ended July 3, 2016 .

Segment Reporting (Notes)

Segment Reporting (Notes)	6 Months Ended
	Jul. 01, 2017
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting We manufacture and market food and beverage products, including condiments and sauces, cheese and dairy, meals, meats, refreshment beverages, coffee, and other grocery products, throughout the world. We manage and report our operating results through four segments. We have three reportable segments defined by geographic region: United States, Canada, and Europe. Our remaining businesses are combined and disclosed as “Rest of World”. Rest of World is comprised of two operating segments: Latin America; and Asia Pacific, Middle East, and Africa (“AMEA”). In the fourth quarter of 2016, we reorganized our segments to reflect the following: • our Russia business moved from Rest of World to the Europe segment; and • management of our Global Procurement Office moved from one of our European subsidiaries to our global headquarters, which resulted in moving the related costs from the Europe segment to general corporate expenses. These changes are reflected in all historical periods presented and did not have a material impact on our condensed consolidated financial statements. See Note 18, Segment Reporting , to our consolidated financial statements for the year ended December 31, 2016 in our Annual Report on Form 10-K for additional information related to these changes. Management evaluates segment performance based on several factors, including net sales and segment adjusted earnings before interest, tax, depreciation, and amortization (“Segment Adjusted EBITDA”). Management uses Segment Adjusted EBITDA to evaluate segment performance and allocate resources. Segment Adjusted EBITDA is a tool that can assist management and investors in comparing our performance on a consistent basis by removing the impact of certain items that management believes do not directly reflect our underlying operations. These items include depreciation and amortization (including amortization of postretirement benefit plans prior service credits), equity award compensation expense, integration and restructuring expenses, merger costs, unrealized gains/(losses) on commodity hedges (the unrealized gains and losses are recorded in general corporate expenses until realized; once realized, the gains and losses are recorded in the applicable segment’s operating results), impairment losses, gains/(losses) on the sale of a business, and nonmonetary currency devaluation (e.g., remeasurement gains and losses). Management does not use assets by segment to evaluate performance or allocate resources. Therefore, we do not disclose assets by segment. Net sales by segment were (in millions): For the Three Months Ended For the Six Months Ended July 1, July 3, July 1, July 3, Net sales: United States $ 4,634 $ 4,692 $ 9,186 $ 9,407 Canada 597 638 1,040 1,142 Europe 595 625 1,138 1,208 Rest of World 851 838 1,677 1,606 Total net sales $ 6,677 $ 6,793 $ 13,041 $ 13,363 Segment Adjusted EBITDA was (in millions): For the Three Months Ended For the Six Months Ended July 1, July 3, July 1, July 3, Segment Adjusted EBITDA: United States $ 1,566 $ 1,518 $ 3,038 $ 3,011 Canada 189 192 315 343 Europe 202 221 372 401 Rest of World 180 202 326 368 General corporate expenses (36 ) (46 ) (65 ) (85 ) Depreciation and amortization (excluding integration and restructuring expenses) (137 ) (124 ) (269 ) (285 ) Integration and restructuring expenses 6 (284 ) (142 ) (544 ) Merger costs — (14 ) — (29 ) Unrealized gains/(losses) on commodity hedges 13 37 (29 ) 45 Impairment losses (48 ) (53 ) (48 ) (53 ) Nonmonetary currency devaluation — (2 ) — (3 ) Equity award compensation expense (excluding integration and restructuring expenses) (14 ) (11 ) (26 ) (20 ) Operating income 1,921 1,636 3,472 3,149 Interest expense 307 264 620 513 Other expense/(income), net 24 6 12 (2 ) Income/(loss) before income taxes $ 1,590 $ 1,366 $ 2,840 $ 2,638 In the first quarter of 2017, we reorganized the products within our product categories to reflect how we manage our business. We have reflected this change for all historical periods presented. Our net sales by product category were (in millions): For the Three Months Ended For the Six Months Ended July 1, July 3, July 1, July 3, Condiments and sauces $ 1,710 $ 1,760 $ 3,223 $ 3,324 Cheese and dairy 1,319 1,350 2,618 2,716 Ambient meals 541 559 1,124 1,149 Frozen and chilled meals 639 626 1,292 1,253 Meats and seafood 695 727 1,355 1,423 Refreshment beverages 437 442 809 850 Coffee 340 356 690 739 Infant and nutrition 211 216 399 406 Desserts, toppings and baking 233 235 429 445 Nuts and salted snacks 252 255 484 515 Other 300 267 618 543 Total net sales $ 6,677 $ 6,793 $ 13,041 $ 13,363

Supplemental Financial Informat

Supplemental Financial Information (Notes)	6 Months Ended
	Jul. 01, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Supplemental Financial Information	Supplemental Financial Information We fully and unconditionally guarantee the notes issued by our wholly owned operating subsidiary, Kraft Heinz Foods Company. See Note 11, Debt, to our consolidated financial statements for the year ended December 31, 2016 in our Annual Report on Form 10-K for additional descriptions of these guarantees. None of our other subsidiaries guarantee these notes. Set forth below are the condensed consolidating financial statements presenting the results of operations, financial position and cash flows of Kraft Heinz (as parent guarantor), Kraft Heinz Foods Company (as subsidiary issuer of the notes), and the non-guarantor subsidiaries on a combined basis and eliminations necessary to arrive at the total reported information on a consolidated basis. This condensed consolidating financial information has been prepared and presented pursuant to the SEC Regulation S-X Rule 3-10, “Financial Statements of Guarantors and Issuers of Guaranteed Securities Registered or being Registered.” This information is not intended to present the financial position, results of operations, and cash flows of the individual companies or groups of companies in accordance with U.S. GAAP. Eliminations represent adjustments to eliminate investments in subsidiaries and intercompany balances and transactions between or among the parent guarantor, subsidiary issuer, and the non-guarantor subsidiaries. The Kraft Heinz Company Condensed Consolidating Statements of Income For the Three Months Ended July 1, 2017 (in millions) (Unaudited) Parent Guarantor Subsidiary Issuer Non-Guarantor Subsidiaries Eliminations Consolidated Net sales $ — $ 4,411 $ 2,404 $ (138 ) $ 6,677 Cost of products sold — 2,510 1,624 (138 ) 3,996 Gross profit — 1,901 780 — 2,681 Selling, general and administrative expenses — 165 595 — 760 Intercompany service fees and other recharges — 1,321 (1,321 ) — — Operating income — 415 1,506 — 1,921 Interest expense — 296 11 — 307 Other expense/(income), net — (48 ) 72 — 24 Income/(loss) before income taxes — 167 1,423 — 1,590 Provision for/(benefit from) income taxes — (69 ) 499 — 430 Equity in earnings of subsidiaries 1,159 923 — (2,082 ) — Net income/(loss) 1,159 1,159 924 (2,082 ) 1,160 Net income/(loss) attributable to noncontrolling interest — — 1 — 1 Net income/(loss) excluding noncontrolling interest $ 1,159 $ 1,159 $ 923 $ (2,082 ) $ 1,159 Comprehensive income/(loss) excluding noncontrolling interest $ 1,300 $ 1,300 $ 1,344 $ (2,644 ) $ 1,300 The Kraft Heinz Company Condensed Consolidating Statements of Income For the Three Months Ended July 3, 2016 (in millions) (Unaudited) Parent Guarantor Subsidiary Issuer Non-Guarantor Subsidiaries Eliminations Consolidated Net sales $ — $ 4,479 $ 2,474 $ (160 ) $ 6,793 Cost of products sold — 2,741 1,681 (160 ) 4,262 Gross profit — 1,738 793 — 2,531 Selling, general and administrative expenses — 307 588 — 895 Intercompany service fees and other recharges — 1,311 (1,311 ) — — Operating income — 120 1,516 — 1,636 Interest expense — 253 11 — 264 Other expense/(income), net — 55 (49 ) — 6 Income/(loss) before income taxes — (188 ) 1,554 — 1,366 Provision for/(benefit from) income taxes — (92 ) 503 — 411 Equity in earnings of subsidiaries 950 1,046 — (1,996 ) — Net income/(loss) 950 950 1,051 (1,996 ) 955 Net income/(loss) attributable to noncontrolling interest — — 5 — 5 Net income/(loss) excluding noncontrolling interest $ 950 $ 950 $ 1,046 $ (1,996 ) $ 950 Comprehensive income/(loss) excluding noncontrolling interest $ 577 $ 577 $ 579 $ (1,156 ) $ 577 The Kraft Heinz Company Condensed Consolidating Statements of Income For the Six Months Ended July 1, 2017 (in millions) (Unaudited) Parent Guarantor Subsidiary Issuer Non-Guarantor Subsidiaries Eliminations Consolidated Net sales $ — $ 8,771 $ 4,570 $ (300 ) $ 13,041 Cost of products sold — 5,224 3,135 (300 ) 8,059 Gross profit — 3,547 1,435 — 4,982 Selling, general and administrative expenses — 349 1,161 — 1,510 Intercompany service fees and other recharges — 2,429 (2,429 ) — — Operating income — 769 2,703 — 3,472 Interest expense — 599 21 — 620 Other expense/(income), net — (31 ) 43 — 12 Income/(loss) before income taxes — 201 2,639 — 2,840 Provision for/(benefit from) income taxes — (81 ) 870 — 789 Equity in earnings of subsidiaries 2,052 1,770 — (3,822 ) — Net income/(loss) 2,052 2,052 1,769 (3,822 ) 2,051 Net income/(loss) attributable to noncontrolling interest — — (1 ) — (1 ) Net income/(loss) excluding noncontrolling interest $ 2,052 $ 2,052 $ 1,770 $ (3,822 ) $ 2,052 Comprehensive income/(loss) excluding noncontrolling interest $ 2,372 $ 2,372 $ 3,186 $ (5,558 ) $ 2,372 The Kraft Heinz Company Condensed Consolidating Statements of Income For the Six Months Ended July 3, 2016 (in millions) (Unaudited) Parent Guarantor Subsidiary Issuer Non-Guarantor Subsidiaries Eliminations Consolidated Net sales $ — $ 8,950 $ 4,715 $ (302 ) $ 13,363 Cost of products sold — 5,573 3,183 (302 ) 8,454 Gross profit — 3,377 1,532 — 4,909 Selling, general and administrative expenses — 584 1,176 — 1,760 Intercompany service fees and other recharges — 2,525 (2,525 ) — — Operating income — 268 2,881 — 3,149 Interest expense — 488 25 — 513 Other expense/(income), net — 86 (88 ) — (2 ) Income/(loss) before income taxes — (306 ) 2,944 — 2,638 Provision for/(benefit from) income taxes — (150 ) 933 — 783 Equity in earnings of subsidiaries 1,846 2,002 — (3,848 ) — Net income/(loss) 1,846 1,846 2,011 (3,848 ) 1,855 Net income/(loss) attributable to noncontrolling interest — — 9 — 9 Net income/(loss) excluding noncontrolling interest $ 1,846 $ 1,846 $ 2,002 $ (3,848 ) $ 1,846 Comprehensive income/(loss) excluding noncontrolling interest $ 1,584 $ 1,584 $ 1,728 $ (3,312 ) $ 1,584 The Kraft Heinz Company Condensed Consolidating Balance Sheets As of July 1, 2017 (in millions) (Unaudited) Parent Guarantor Subsidiary Issuer Non-Guarantor Subsidiaries Eliminations Consolidated ASSETS Cash and cash equivalents $ — $ 556 $ 889 $ — $ 1,445 Trade receivables — 20 893 — 913 Receivables due from affiliates — 775 210 (985 ) — Dividends due from affiliates 65 — — (65 ) — Sold receivables — — 521 — 521 Inventories — 2,001 1,064 — 3,065 Short-term lending due from affiliates — 1,874 3,443 (5,317 ) — Other current assets — 3,161 225 (2,222 ) 1,164 Total current assets 65 8,387 7,245 (8,589 ) 7,108 Property, plant and equipment, net — 4,473 2,335 — 6,808 Goodwill — 11,067 33,498 — 44,565 Investments in subsidiaries 58,333 71,228 — (129,561 ) — Intangible assets, net — 3,294 56,106 — 59,400 Long-term lending due from affiliates — 1,700 2,000 (3,700 ) — Other assets — 527 1,008 — 1,535 TOTAL ASSETS $ 58,398 $ 100,676 $ 102,192 $ (141,850 ) $ 119,416 LIABILITIES AND EQUITY Commercial paper and other short-term debt $ — $ 1,086 $ 4 $ — $ 1,090 Current portion of long-term debt — 9 10 — 19 Short-term lending due to affiliates — 3,443 1,874 (5,317 ) — Trade payables — 2,193 1,695 — 3,888 Payables due to affiliates — 210 775 (985 ) — Accrued marketing — 128 366 — 494 Accrued postemployment costs — 84 73 — 157 Income taxes payable — — 2,375 (2,222 ) 153 Interest payable — 397 9 — 406 Dividends due to affiliates — 65 — (65 ) — Other current liabilities 65 477 607 — 1,149 Total current liabilities 65 8,092 7,788 (8,589 ) 7,356 Long-term debt — 28,960 1,019 — 29,979 Long-term borrowings due to affiliates — 2,000 1,917 (3,917 ) — Deferred income taxes — 1,327 19,560 — 20,887 Accrued postemployment costs — 1,687 288 — 1,975 Other liabilities — 277 396 — 673 TOTAL LIABILITIES 65 42,343 30,968 (12,506 ) 60,870 Total shareholders’ equity 58,333 58,333 71,011 (129,344 ) 58,333 Noncontrolling interest — — 213 — 213 TOTAL EQUITY 58,333 58,333 71,224 (129,344 ) 58,546 TOTAL LIABILITIES AND EQUITY $ 58,398 $ 100,676 $ 102,192 $ (141,850 ) $ 119,416 The Kraft Heinz Company Condensed Consolidating Balance Sheets As of December 31, 2016 (in millions) (Unaudited) Parent Guarantor Subsidiary Issuer Non-Guarantor Subsidiaries Eliminations Consolidated ASSETS Cash and cash equivalents $ — $ 2,830 $ 1,374 $ — $ 4,204 Trade receivables — 12 757 — 769 Receivables due from affiliates — 712 111 (823 ) — Dividends due from affiliates 39 — — (39 ) — Sold receivables — — 129 — 129 Inventories — 1,759 925 — 2,684 Short-term lending due from affiliates — 1,722 2,956 (4,678 ) — Other current assets — 2,229 447 (1,709 ) 967 Total current assets 39 9,264 6,699 (7,249 ) 8,753 Property, plant and equipment, net — 4,447 2,241 — 6,688 Goodwill — 11,067 33,058 — 44,125 Investments in subsidiaries 57,358 70,877 — (128,235 ) — Intangible assets, net — 3,364 55,933 — 59,297 Long-term lending due from affiliates — 1,700 2,000 (3,700 ) — Other assets — 501 1,116 — 1,617 TOTAL ASSETS $ 57,397 $ 101,220 $ 101,047 $ (139,184 ) $ 120,480 LIABILITIES AND EQUITY Commercial paper and other short-term debt $ — $ 642 $ 3 $ — $ 645 Current portion of long-term debt — 2,032 14 — 2,046 Short-term lending due to affiliates — 2,956 1,722 (4,678 ) — Trade payables — 2,376 1,620 — 3,996 Payables due to affiliates — 111 712 (823 ) — Accrued marketing — 277 472 — 749 Accrued postemployment costs — 144 13 — 157 Income taxes payable — — 1,964 (1,709 ) 255 Interest payable — 401 14 — 415 Dividends due to affiliates — 39 — (39 ) — Other current liabilities 39 588 611 — 1,238 Total current liabilities 39 9,566 7,145 (7,249 ) 9,501 Long-term debt — 28,736 977 — 29,713 Long-term borrowings due to affiliates — 2,000 1,902 (3,902 ) — Deferred income taxes — 1,382 19,466 — 20,848 Accrued postemployment costs — 1,754 284 — 2,038 Other liabilities — 424 382 — 806 TOTAL LIABILITIES 39 43,862 30,156 (11,151 ) 62,906 Total shareholders’ equity 57,358 57,358 70,675 (128,033 ) 57,358 Noncontrolling interest — — 216 — 216 TOTAL EQUITY 57,358 57,358 70,891 (128,033 ) 57,574 TOTAL LIABILITIES AND EQUITY $ 57,397 $ 101,220 $ 101,047 $ (139,184 ) $ 120,480 The Kraft Heinz Company Condensed Consolidating Statements of Cash Flows For the Six Months Ended July 1, 2017 (in millions) (Unaudited) (As Restated) Parent Guarantor Subsidiary Issuer Non-Guarantor Subsidiaries Eliminations Consolidated CASH FLOWS FROM OPERATING ACTIVITIES Net cash provided by/(used for) operating activities $ 1,434 $ 812 $ (990 ) $ (1,434 ) $ (178 ) CASH FLOWS FROM INVESTING ACTIVITIES Cash receipts on sold receivables — — 1,069 — 1,069 Capital expenditures — (470 ) (220 ) — (690 ) Net proceeds from/(payments on) intercompany lending activities — 141 (237 ) 96 — Additional investments in subsidiaries (12 ) — — 12 — Other investing activities, net — 41 3 — 44 Net cash provided by/(used for) investing activities (12 ) (288 ) 615 108 423 CASH FLOWS FROM FINANCING ACTIVITIES Repayments of long-term debt — (2,023 ) (9 ) — (2,032 ) Proceeds from issuance of commercial paper — 4,213 — — 4,213 Repayments of commercial paper — (3,777 ) — — (3,777 ) Net proceeds from/(payments on) intercompany borrowing activities — 237 (141 ) (96 ) — Dividends paid-common stock (1,434 ) (1,434 ) — 1,434 (1,434 ) Other intercompany capital stock transactions — 12 — (12 ) — Other financing activities, net 12 — 7 — 19 Net cash provided by/(used for) financing activities (1,422 ) (2,772 ) (143 ) 1,326 (3,011 ) Effect of exchange rate changes on cash, cash equivalents, and restricted cash — — 29 — 29 Cash, cash equivalents, and restricted cash: Net increase/(decrease) — (2,248 ) (489 ) — (2,737 ) Balance at beginning of period — 2,869 1,386 — 4,255 Balance at end of period $ — $ 621 $ 897 $ — $ 1,518 The Kraft Heinz Company Condensed Consolidating Statements of Cash Flows For the Six Months Ended July 3, 2016 (in millions) (Unaudited) (As Restated) Parent Guarantor Subsidiary Issuer Non-Guarantor Subsidiaries Eliminations Consolidated CASH FLOWS FROM OPERATING ACTIVITIES Net cash provided by/(used for) operating activities $ 847 $ 1,520 $ (621 ) $ (847 ) $ 899 CASH FLOWS FROM INVESTING ACTIVITIES Cash receipts on sold receivables — — 1,205 — 1,205 Capital expenditures — (346 ) (168 ) — (514 ) Net proceeds from/(payments on) intercompany lending activities — 595 107 (702 ) — Additional investments in subsidiaries — (10 ) — 10 — Return of capital 8,987 — — (8,987 ) — Other investing activities, net — 86 (24 ) — 62 Net cash provided by/(used for) investing activities 8,987 325 1,120 (9,679 ) 753 CASH FLOWS FROM FINANCING ACTIVITIES Repayments of long-term debt — (8 ) (4 ) — (12 ) Proceeds from issuance of long-term debt — 6,980 2 — 6,982 Proceeds from issuance of commercial paper — 1,939 — — 1,939 Repayments of commercial paper — (1,307 ) — — (1,307 ) Net proceeds from/(payments on) intercompany borrowing activities — (107 ) (595 ) 702 — Dividends paid-Series A Preferred Stock (180 ) — — — (180 ) Dividends paid-common stock (1,334 ) (1,514 ) — 1,514 (1,334 ) Redemption of Series A Preferred Stock (8,320 ) — — — (8,320 ) Other intercompany capital stock transactions — (8,320 ) 10 8,310 — Other financing activities, net — 45 (2 ) — 43 Net cash provided by/(used for) financing activities (9,834 ) (2,292 ) (589 ) 10,526 (2,189 ) Effect of exchange rate changes on cash, cash equivalents, and restricted cash — — 1 — 1 Cash, cash equivalents, and restricted cash: Net increase/(decrease) — (447 ) (89 ) — (536 ) Balance at beginning of period — 3,253 1,659 — 4,912 Balance at end of period $ — $ 2,806 $ 1,570 $ — $ 4,376 The following tables provide a reconciliation of cash and cash equivalents, as reported on our unaudited condensed consolidating balance sheets, to cash, cash equivalents, and restricted cash, as reported on our unaudited condensed consolidating statements of cash flows (in millions): July 1, 2017 Parent Guarantor Subsidiary Issuer Non-Guarantor Subsidiaries Eliminations Consolidated Cash and cash equivalents $ — $ 556 $ 889 $ — $ 1,445 Restricted cash included in other assets (current) — 65 8 — 73 Restricted cash included in other assets (noncurrent) — — — — — Cash, cash equivalents, and restricted cash $ — $ 621 $ 897 $ — $ 1,518 December 31, 2016 Parent Guarantor Subsidiary Issuer Non-Guarantor Subsidiaries Eliminations Consolidated Cash and cash equivalents $ — $ 2,830 $ 1,374 $ — $ 4,204 Restricted cash included in other assets (current) — 39 3 — 42 Restricted cash included in other assets (noncurrent) — — 9 — 9 Cash, cash equivalents, and restricted cash $ — $ 2,869 $ 1,386 $ — $ 4,255

Background and Basis of Prese24

Background and Basis of Presentation (Policies)	6 Months Ended
	Jul. 01, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation: Our interim condensed consolidated financial statements are unaudited. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) have been omitted, in accordance with the rules of the Securities and Exchange Commission (the “SEC”). In management’s opinion, these interim financial statements include all adjustments (consisting only of normal recurring adjustments) and accruals necessary to fairly state our results for the periods presented. The condensed consolidated balance sheet data at December 31, 2016 was derived from audited financial statements, but does not include all disclosures required by U.S. GAAP. You should read these statements in conjunction with our audited consolidated financial statements and related notes in our Annual Report on Form 10-K for the year ended December 31, 2016 . The results for interim periods are not necessarily indicative of future or annual results.
New Accounting Pronouncements	Accounting Standards Adopted in the Current Year: In March 2016, the FASB issued ASU 2016-09 related to equity-based award accounting and presentation. Under this guidance, excess tax benefits upon the exercise of share- based payment awards are recognized in our tax provision rather than within equity. Cash flows related to excess tax benefits are classified as operating activities rather than financing activities. Additionally, cash flows related to employee tax withholdings on restricted share vesting are classified as financing activities. This ASU became effective in the first quarter of 2017. We adopted the guidance related to excess tax benefits on a prospective basis. As a result, we recognized a tax benefit in our condensed consolidated statement of income of $8 million for the three months and $16 million for the six months ended July 1, 2017 related to our excess tax benefits upon the exercise of share-based payment awards. We retrospectively adopted the guidance related to cash flow classification of employee tax withholdings on restricted share vesting. This guidance did not have a material impact on our condensed consolidated statement of cash flows for the six months ended July 3, 2016 or on our consolidated statement of cash flows for the year ended December 31, 2016. Our equity award compensation cost continues to reflect estimated forfeitures. In August 2016, the FASB issued ASU 2016-15 related to the classification of certain cash payments and cash receipts on the statement of cash flows. This ASU provided guidance on eight specific cash flow classification matters, which must be adopted in the same period using a retrospective transition method. We early adopted this ASU in the first quarter of 2017. We now classify consideration received for beneficial interest obtained for transferring trade receivables in securitization transactions as investing activities instead of operating activities. Accordingly, we reclassified $1.2 billion of cash receipts from the payments on sold receivables (which are cash receipts on the underlying trade receivables that have already been securitized) to cash provided by investing activities (from cash provided by operating activities) for the six months ended July 3, 2016. The related impact of the classification of cash receipts on sold receivables on our consolidated statement of cash flows for the year ended December 31, 2016 was $2.6 billion . Additionally, we now classify cash payments for debt prepayment and debt extinguishment costs as cash outflows from financing activities rather than cash outflows from operating activities, which had no impact on our condensed consolidated statements of cash flows for the six months ended July 3, 2016 or our consolidated statement of cash flows for the year ended December 31, 2016. In November 2016, the FASB issued ASU 2016-18 requiring the statement of cash flows to explain the change in restricted cash and restricted cash equivalents, in addition to cash and cash equivalents. We early adopted this ASU in the first quarter of 2017. Accordingly, we restated our cash and cash equivalents balances in the condensed consolidated statements of cash flows to include restricted cash of $51 million at December 31, 2016 , $140 million at July 3, 2016 , and $75 million at January 3, 2016 . Additionally, cash used for investing activities decreased by $64 million for the six months ended July 3, 2016 and increased by $24 million for the year ended December 31, 2016. As required by the ASU, we have provided a reconciliation from cash and cash equivalents as presented on our condensed consolidated balance sheets to cash, cash equivalents, and restricted cash as reported on our condensed consolidated statements of cash flows. See Note 3, Restricted Cash , for this reconciliation, as well as a discussion of the nature of our restricted cash balances. Recently Issued Accounting Standards: In May 2014, the FASB issued ASU 2014-09, which superseded previously existing revenue recognition guidance. Under this ASU, companies will apply a principles-based five step model to recognize revenue upon the transfer of promised goods or services to customers and in an amount that reflects the consideration for which the company expects to be entitled to in exchange for those goods or services. This ASU will be effective beginning in the first quarter of our fiscal year 2018. The ASU may be applied using a full retrospective method or a modified retrospective transition method, with a cumulative-effect adjustment as of the date of adoption. We are still evaluating the impact this ASU will have on our financial statements and related disclosures. At this time, we believe the potential impacts on our existing accounting policies may be associated with our customer allowances programs. We will adopt this ASU on the first day of our fiscal year 2018. We are also still evaluating our application method. Our ability to adopt using the full retrospective method is dependent on a number of factors, including finalizing our assessment of information necessary to restate prior period financial statements. In February 2016, the FASB issued ASU 2016-02, which superseded previously existing leasing guidance. The ASU is intended to establish the principles that lessees and lessors shall apply to report useful information to users of financial statements about the amount, timing, and uncertainty of cash flows arising from a lease. The new guidance requires lessees to reflect most leases on their balance sheets as assets and obligations. This ASU will be effective beginning in the first quarter of our fiscal year 2019. Early adoption is permitted. The new guidance must be adopted using a modified retrospective transition, and provides for certain practical expedients. While we are still evaluating the impact this ASU will have on our financial statements and related disclosures, we have completed our scoping reviews and have made progress in our assessment phase. We have identified our significant leases by geography and by asset type as well as our leasing processes which will be impacted by the new standard. We have also made progress in developing the policy elections we will make upon adoption. We expect that our financial statement disclosures will be expanded to present additional details of our leasing arrangements. At this time, we are unable to reasonably estimate the expected increase in assets and liabilities on our condensed consolidated balance sheets upon adoption. We will adopt this ASU on the first day of our fiscal year 2019. In October 2016, the FASB issued ASU 2016-16 related to the income tax accounting impacts of intra-entity transfers of assets other than inventory , such as intellectual property and property, plant and equipment. Under the new accounting guidance, current and deferred income taxes should be recognized upon transfer of the assets. Previously, recognition of current and deferred income taxes was prohibited until the asset was sold to an external third party. This ASU will be effective beginning in the first quarter of our fiscal year 2018. Early adoption is permitted but must be adopted in the first interim period of the annual period for which the ASU is adopted. The new guidance must be adopted on a modified retrospective basis through a cumulative-effect adjustment to retained earnings as of the beginning of the adoption period. We will adopt this ASU on the first day of our fiscal year 2018. We currently anticipate a cumulative effect adjustment to retained earnings of approximately $100 million upon adoption. In January 2017, the FASB issued ASU 2017-04 related to goodwill impairment testing. This ASU eliminates Step 2 from the goodwill impairment test. Under the new guidance, if a reporting unit’s carrying amount exceeds its fair value, the entity will record an impairment charge based on that difference. The impairment charge will be limited to the amount of goodwill allocated to that reporting unit. Previously, if the fair value of a reporting unit was lower than its carrying amount (Step 1), an entity was required to calculate any impairment charge by comparing the implied fair value of goodwill with its carrying amount (Step 2). Additionally, under the new standard, entities that have reporting units with zero or negative carrying amounts will no longer be required to perform the qualitative assessment to determine whether to perform Step 2 of the goodwill impairment test. As a result, reporting units with zero or negative carrying amounts will generally be expected to pass the simplified impairment test; however, additional disclosure will be required of those entities. This ASU will be effective beginning in the first quarter of our fiscal year 2020. Early adoption is permitted for annual and interim goodwill impairment testing dates after January 1, 2017. The new guidance must be adopted on a prospective basis. While we are still evaluating the timing of adoption, we currently do not expect this ASU to have a material impact on our financial statements and related disclosures. In March 2017, the FASB issued ASU 2017-07 related to the presentation of net periodic benefit cost (pension and postretirement cost) . This ASU will be effective in the first quarter of our fiscal year 2018. Under the new guidance, the service cost component of net periodic benefit cost must be presented in the same statement of income line item as other employee compensation costs arising from services rendered by employees during the period. Other components of net periodic benefit cost must be disaggregated from the service cost component in the statements of income and must be presented outside the operating income subtotal. Additionally, only the service cost component will be eligible for capitalization in assets. The new guidance must be applied retrospectively for the statement of income presentation of service cost components and other net periodic benefit cost components and prospectively for the capitalization of service cost components. We will adopt this ASU on the first day of our fiscal year 2018. We are still evaluating the impact this ASU will have on our financial statements and related disclosures.

Background and Basis of Prese25

Background and Basis of Presentation (Tables)	6 Months Ended
	Jul. 01, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Error Corrections and Prior Period Adjustments	The effects of the restatement on the net cash provided by/(used for) operating activities and net cash provided by/(used for) investing activities of our unaudited condensed consolidated statements of cash flows for the six months ended July 1, 2017 and July 3, 2016 are as follows (in millions): For the Six Months Ended July 1, 2017 July 3, 2016 As Reported Adjustment As Restated As Reported Adjustment As Restated Trade receivables $ (139 ) $ (1,459 ) $ (1,598 ) $ (226 ) $ (768 ) $ (994 ) Sold receivables (390 ) 390 — 437 (437 ) — Net cash provided by/(used for) operating activities 891 (1,069 ) (178 ) 2,104 (1,205 ) 899 Cash receipts on sold receivables $ — $ 1,069 $ 1,069 $ — $ 1,205 $ 1,205 Net cash provided by/(used for) investing activities (646 ) 1,069 423 (452 ) 1,205 753

Integration and Restructuring26

Integration and Restructuring Expenses (Tables)	6 Months Ended
	Jul. 01, 2017
Restructuring Cost and Reserve [Line Items]
Restructuring Costs by Type and Income Statement Location	Total expenses related to the Integration Program and restructuring activities recorded in cost of products sold and selling, general and administrative expenses (“SG&A”) for the years presented were (in millions): For the Three Months Ended For the Six Months Ended July 1, July 3, July 1, July 3, Severance and employee benefit costs - COGS $ (136 ) $ 23 $ (117 ) $ 29 Severance and employee benefit costs - SG&A 16 14 41 46 Asset-related costs - COGS 25 137 100 279 Asset-related costs - SG&A 6 12 13 26 Other costs - COGS 52 39 61 72 Other costs - SG&A 31 59 44 92 $ (6 ) $ 284 $ 142 $ 544
Restructuring Costs Excluded from Segments	The pre-tax impact of allocating such expenses to our segments would have been (in millions): For the Three Months Ended For the Six Months Ended July 1, July 3, July 1, July 3, United States $ (65 ) $ 247 $ 43 $ 446 Canada 14 9 24 27 Europe 25 13 39 28 Rest of World 11 — 11 — General corporate expenses 9 15 25 43 $ (6 ) $ 284 $ 142 $ 544
Integration Program
Restructuring Cost and Reserve [Line Items]
Schedule of Restructuring Reserve by Type of Cost	Our liability balance for Integration Program costs that qualify as exit and disposal costs under U.S. GAAP (i.e., severance and employee benefit costs and other exit costs), was (in millions): Severance and Employee Benefit Costs Other Exit Costs (a) Total Balance at December 31, 2016 $ 99 $ 10 $ 109 Charges/(credits) (105 ) 18 (87 ) Cash payments (47 ) (3 ) (50 ) Non-cash utilization 154 (4 ) 150 Balance at July 1, 2017 $ 101 $ 21 $ 122 (a) Other exit costs primarily consist of lease and contract terminations.
Restructuring Activities
Restructuring Cost and Reserve [Line Items]
Schedule of Restructuring Reserve by Type of Cost	Our liability balance for restructuring project costs that qualify as exit and disposal costs under U.S. GAAP (i.e., severance and employee benefit costs and other exit costs), was (in millions): Severance and Employee Benefit Costs Other Exit Costs (a) Total Balance at December 31, 2016 $ 12 $ 25 $ 37 Charges/(credits) 29 9 38 Cash payments (25 ) (4 ) (29 ) Non-cash utilization (6 ) 1 (5 ) Balance at July 1, 2017 $ 10 $ 31 $ 41 (a) Other exit costs primarily consist of lease and contract terminations.

Restricted Cash (Tables)

Restricted Cash (Tables)	6 Months Ended
	Jul. 01, 2017
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]
Reconciliation from Cash and Cash Equivalents to Cash, Cash Equivalents, and Restricted Cash	The following table provides a reconciliation of cash and cash equivalents, as reported on our condensed consolidated balance sheets, to cash, cash equivalents, and restricted cash, as reported on our condensed consolidated statements of cash flows (in millions): July 1, 2017 December 31, 2016 Cash and cash equivalents $ 1,445 $ 4,204 Restricted cash included in other assets (current) 73 42 Restricted cash included in other assets (noncurrent) — 9 Cash, cash equivalents, and restricted cash $ 1,518 $ 4,255 The following tables provide a reconciliation of cash and cash equivalents, as reported on our unaudited condensed consolidating balance sheets, to cash, cash equivalents, and restricted cash, as reported on our unaudited condensed consolidating statements of cash flows (in millions): July 1, 2017 Parent Guarantor Subsidiary Issuer Non-Guarantor Subsidiaries Eliminations Consolidated Cash and cash equivalents $ — $ 556 $ 889 $ — $ 1,445 Restricted cash included in other assets (current) — 65 8 — 73 Restricted cash included in other assets (noncurrent) — — — — — Cash, cash equivalents, and restricted cash $ — $ 621 $ 897 $ — $ 1,518 December 31, 2016 Parent Guarantor Subsidiary Issuer Non-Guarantor Subsidiaries Eliminations Consolidated Cash and cash equivalents $ — $ 2,830 $ 1,374 $ — $ 4,204 Restricted cash included in other assets (current) — 39 3 — 42 Restricted cash included in other assets (noncurrent) — — 9 — 9 Cash, cash equivalents, and restricted cash $ — $ 2,869 $ 1,386 $ — $ 4,255

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jul. 01, 2017
Inventory Disclosure [Abstract]
Inventories	Inventories at July 1, 2017 and December 31, 2016 were (in millions): July 1, 2017 December 31, 2016 Packaging and ingredients $ 678 $ 542 Work in process 495 388 Finished product 1,892 1,754 Inventories $ 3,065 $ 2,684

Goodwill and Intangible Asset29

Goodwill and Intangible Assets (Tables)	6 Months Ended
	Jul. 01, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Changes in the carrying amount of goodwill	Changes in the carrying amount of goodwill, by segment, were (in millions): United States Canada Europe Rest of World Total Balance at December 31, 2016 $ 33,696 $ 4,913 $ 2,778 $ 2,738 $ 44,125 Translation adjustments — 177 168 95 440 Balance at July 1, 2017 $ 33,696 $ 5,090 $ 2,946 $ 2,833 $ 44,565
Changes in the carrying amount of indefinite-lived intangible assets	Indefinite-lived intangible assets, which primarily consisted of trademarks, were (in millions): Balance at December 31, 2016 $ 53,307 Translation adjustments 237 Impairment losses on indefinite-lived intangible assets (48 ) Balance at July 1, 2017 $ 53,496
Schedule of definite-lived intangible assets by major asset class	Definite-lived intangible assets were (in millions): July 1, 2017 December 31, 2016 Gross Accumulated Amortization Net Gross Accumulated Amortization Net Trademarks $ 2,362 $ (226 ) $ 2,136 $ 2,337 $ (172 ) $ 2,165 Customer-related assets 4,216 (458 ) 3,758 4,184 (369 ) 3,815 Other 14 (4 ) 10 13 (3 ) 10 $ 6,592 $ (688 ) $ 5,904 $ 6,534 $ (544 ) $ 5,990

Employees' Stock Incentive Pl30

Employees' Stock Incentive Plans (Tables)	6 Months Ended
	Jul. 01, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Share-based Compensation, Stock Option Activity	Our stock option activity and related information was: Number of Stock Options Weighted Average Exercise Price Outstanding at December 31, 2016 20,560,140 $ 37.39 Granted 1,219,904 91.40 Forfeited (387,121 ) 51.18 Exercised (1,761,346 ) 32.65 Outstanding at July 1, 2017 19,631,577 40.91
Schedule of Share-based Compensation, RSU Activity	Our restricted stock unit (“RSU”) activity and related information was: Number of Units Weighted Average Grant Date Fair Value (per share) Outstanding at December 31, 2016 806,744 $ 71.95 Granted 1,670,051 85.03 Forfeited (146,922 ) 82.38 Vested (126,707 ) 72.96 Outstanding at July 1, 2017 2,203,166 81.37

Postemployment Benefits (Tables

Postemployment Benefits (Tables)	6 Months Ended
	Jul. 01, 2017
Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Components of Net Cost/(Benefit)	Net pension cost/(benefit) consisted of the following (in millions): For the Three Months Ended For the Six Months Ended U.S. Plans Non-U.S. Plans U.S. Plans Non-U.S. Plans July 1, July 3, July 1, July 3, July 1, July 3, July 1, July 3, Service cost $ 2 $ 4 $ 4 $ 6 $ 5 $ 7 $ 8 $ 12 Interest cost 46 53 16 22 91 106 32 43 Expected return on plan assets (66 ) (74 ) (43 ) (47 ) (131 ) (148 ) (86 ) (93 ) Amortization of unrecognized losses/(gains) — — 1 — — — 1 — Settlements — — — — — (6 ) — — Special/contractual termination benefits 6 — 2 — 13 — 8 — Other — — — — 2 — (9 ) — Net pension cost/(benefit) $ (12 ) $ (17 ) $ (20 ) $ (19 ) $ (20 ) $ (41 ) $ (46 ) $ (38 )
Postretirement Plans
Defined Benefit Plan Disclosure [Line Items]
Components of Net Cost/(Benefit)	Net postretirement cost/(benefit) consisted of the following (in millions): For the Three Months Ended For the Six Months Ended July 1, July 3, July 1, July 3, Service cost $ 3 $ 4 $ 5 $ 8 Interest cost 12 14 25 30 Amortization of prior service costs/(credits) (83 ) (80 ) (173 ) (162 ) Curtailments (168 ) — (168 ) — Net postretirement cost/(benefit) $ (236 ) $ (62 ) $ (311 ) $ (124 )

Accumulated Other Comprehensi32

Accumulated Other Comprehensive Income/(Losses) (Tables) - AOCI Attributable to Parent	6 Months Ended
	Jul. 01, 2017
Accumulated Other Comprehensive Income/(Losses) [Line Items]
Components of and Changes in Accumulated Other Comprehensive Income/(Losses)	The components of, and changes in, accumulated other comprehensive income/(losses), net of tax, were as follows (in millions): Foreign Currency Translation Adjustments Net Postemployment Benefit Plan Adjustments Net Cash Flow Hedge Adjustments Total Balance as of December 31, 2016 $ (2,412 ) $ 772 $ 12 $ (1,628 ) Foreign currency translation adjustments 760 — — 760 Net deferred gains/(losses) on net investment hedges (203 ) — — (203 ) Net postemployment benefit gains/(losses) arising during the period — (8 ) — (8 ) Reclassification of net postemployment benefit losses/(gains) — (209 ) — (209 ) Net deferred gains/(losses) on cash flow hedges — — (66 ) (66 ) Net deferred losses/(gains) on cash flow hedges reclassified to net income — — 46 46 Total other comprehensive income/(loss) 557 (217 ) (20 ) 320 Balance as of July 1, 2017 $ (1,855 ) $ 555 $ (8 ) $ (1,308 )
Gross Amount and Related Tax Benefit/(Expense) Recorded in and Associated with each Component of Other Comprehensive Income/(Loss)	The gross amount and related tax benefit/(expense) recorded in, and associated with, each component of other comprehensive income/(loss) were as follows (in millions): For the Three Months Ended July 1, July 3, Before Tax Amount Tax Net of Tax Amount Before Tax Amount Tax Net of Tax Amount Foreign currency translation adjustments $ 451 $ — $ 451 $ (418 ) $ — $ (418 ) Net deferred gains/(losses) on net investment hedges (290 ) 138 (152 ) 194 (89 ) 105 Net actuarial gains/(losses) arising during the period 2 (1 ) 1 — — — Prior service credits/(costs) arising during the period 2 (1 ) 1 — — — Reclassification of net postemployment benefit losses/(gains) (250 ) 96 (154 ) (80 ) 30 (50 ) Net deferred gains/(losses) on cash flow hedges (32 ) — (32 ) (17 ) 3 (14 ) Net deferred losses/(gains) on cash flow hedges reclassified to net income 28 (2 ) 26 6 (2 ) 4 For the Six Months Ended July 1, July 3, Before Tax Amount Tax Net of Tax Amount Before Tax Amount Tax Net of Tax Amount Foreign currency translation adjustments $ 760 $ — $ 760 $ (153 ) $ — $ (153 ) Net deferred gains/(losses) on net investment hedges (368 ) 165 (203 ) 110 (65 ) 45 Net actuarial gains/(losses) arising during the period (10 ) 1 (9 ) — — — Prior service credits/(costs) arising during the period 2 (1 ) 1 — — — Reclassification of net postemployment benefit losses/(gains) (340 ) 131 (209 ) (168 ) 64 (104 ) Net deferred gains/(losses) on cash flow hedges (71 ) 5 (66 ) (45 ) 13 (32 ) Net deferred losses/(gains) on cash flow hedges reclassified to net income 45 1 46 (20 ) 2 (18 )
Amounts Reclassified From Accumulated Other Comprehensive Income/(Losses)	The amounts reclassified from accumulated other comprehensive income/(losses) were as follows (in millions): Accumulated Other Comprehensive Income/(Losses) Component Reclassified from Accumulated Other Comprehensive Income/(Losses) Affected Line Item in the Statement Where Net Income/(Loss) is Presented For the Three Months Ended For the Six Months Ended July 1, July 3, July 1, July 3, Losses/(gains) on cash flow hedges: Foreign exchange contracts $ — $ (2 ) $ — $ (3 ) Net sales Foreign exchange contracts (4 ) (4 ) (3 ) (33 ) Cost of products sold Foreign exchange contracts 31 11 46 14 Other expense/(income), net Interest rate contracts 1 1 2 2 Interest expense Losses/(gains) on cash flow hedges before income taxes 28 6 45 (20 ) Losses/(gains) on cash flow hedges, income taxes (2 ) (2 ) 1 2 Losses/(gains) on cash flow hedges $ 26 $ 4 $ 46 $ (18 ) Losses/(gains) on postemployment benefits: Amortization of unrecognized losses/(gains) $ 1 $ — $ 1 $ — (a) Amortization of prior service costs/(credits) (83 ) (80 ) (173 ) (162 ) (a) Settlement and curtailments losses/(gains) (168 ) — (168 ) (6 ) (a) Losses/(gains) on postemployment benefits before income taxes (250 ) (80 ) (340 ) (168 ) Losses/(gains) on postemployment benefits, income taxes 96 30 131 64 Losses/(gains) on postemployment benefits $ (154 ) $ (50 ) $ (209 ) $ (104 ) (a) These components are included in the computation of net periodic postemployment benefit costs. See Note 8, Postemployment Benefits , for additional information.

Financial Instruments (Tables)

Financial Instruments (Tables)	6 Months Ended
	Jul. 01, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of notional amounts of outstanding derivative positions	The notional values of our derivative instruments were (in millions): Notional Amount July 1, 2017 December 31, 2016 Commodity contracts $ 473 $ 459 Foreign exchange contracts 3,676 2,997 Cross-currency contracts 2,950 3,173
Schedule of derivative fair values and levels within the fair value hierarchy on the balance sheets	The fair values and the levels within the fair value hierarchy of derivative instruments recorded on the consolidated balance sheets were (in millions): July 1, 2017 Quoted Prices in Active Markets for Identical Assets and Liabilities Significant Other Observable Inputs Significant Unobservable Inputs Total Fair Value Assets Liabilities Assets Liabilities Assets Liabilities Assets Liabilities Derivatives designated as hedging instruments: Foreign exchange contracts $ — $ — $ 12 $ 32 $ — $ — $ 12 $ 32 Cross-currency contracts — — 439 — — — 439 — Derivatives not designated as hedging instruments: Commodity contracts 15 26 1 1 — — 16 27 Foreign exchange contracts — — 21 1 — — 21 1 Cross-currency contracts — — — — — — — — Total fair value $ 15 $ 26 $ 473 $ 34 $ — $ — $ 488 $ 60 December 31, 2016 Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Fair Value Assets Liabilities Assets Liabilities Assets Liabilities Assets Liabilities Derivatives designated as hedging instruments: Foreign exchange contracts $ — $ — $ 69 $ 13 $ — $ — $ 69 $ 13 Cross-currency contracts — — 580 36 — — 580 36 Derivatives not designated as hedging instruments: Commodity contracts 28 7 — — — — 28 7 Foreign exchange contracts — — 35 30 — — 35 30 Cross-currency contracts — — 44 — — — 44 — Total fair value $ 28 $ 7 $ 728 $ 79 $ — $ — $ 756 $ 86
Schedule of cross-currency swap derivatives	At July 1, 2017 , our cross-currency swaps designated as net investment hedges consisted of: Instrument Notional (local) (in billions) Notional (USD) (in billions) Maturity Cross-currency swap £ 0.8 $ 1.4 October 2019 Cross-currency swap C$ 1.8 $ 1.6 December 2019
Derivative impact on the statements of income and statements of comprehensive income	The following tables present the pre-tax effect of derivative instruments on the consolidated statements of income and statements of comprehensive income: For the Three Months Ended July 1, July 3, Commodity Contracts Foreign Exchange Cross-Currency Contracts Interest Rate Contracts Commodity Contracts Foreign Exchange Cross-Currency Contracts Interest Rate (in millions) Derivatives designated as hedging instruments: Cash flow hedges: Gains/(losses) recognized in other comprehensive income/(loss) (effective portion) $ — $ (32 ) $ — $ — $ — $ (9 ) $ — $ (8 ) Net investment hedges: Gains/(losses) recognized in other comprehensive income/(loss) (effective portion) — (8 ) (66 ) — — 46 90 — Total gains/(losses) recognized in other comprehensive income/(loss) (effective portion) $ — $ (40 ) $ (66 ) $ — $ — $ 37 $ 90 $ (8 ) Cash flow hedges reclassified to net income/(loss): Net sales $ — $ — $ — $ — $ — $ 2 $ — $ — Cost of products sold (effective portion) — 4 — — — 4 — — Other expense/(income), net — (31 ) — — — (11 ) — — Interest expense — — — (1 ) — — — (1 ) — (27 ) — (1 ) — (5 ) — (1 ) Derivatives not designated as hedging instruments: Gains/(losses) on derivatives recognized in cost of products sold — — — — 29 — — — Gains/(losses) on derivatives recognized in other expense/(income), net — 26 (1 ) — — 18 (1 ) — — 26 (1 ) — 29 18 (1 ) — Total gains/(losses) recognized in statements of income $ — $ (1 ) $ (1 ) $ (1 ) $ 29 $ 13 $ (1 ) $ (1 ) For the Six Months Ended July 1, July 3, Commodity Contracts Foreign Exchange Contracts Cross-Currency Contracts Interest Rate Contracts Commodity Contracts Foreign Exchange Contracts Cross-Currency Contracts Interest Rate Contracts (in millions) Derivatives designated as hedging instruments: Cash flow hedges: Gains/(losses) recognized in other comprehensive income/(loss) (effective portion) $ — $ (71 ) $ — $ — $ — $ (37 ) $ — $ (8 ) Net investment hedges: Gains/(losses) recognized in other comprehensive income/(loss) (effective portion) — (12 ) (96 ) — — 46 25 — Total gains/(losses) recognized in other comprehensive income/(loss) (effective portion) $ — $ (83 ) $ (96 ) $ — $ — $ 9 $ 25 $ (8 ) Cash flow hedges reclassified to net income/(loss): Net sales $ — $ — $ — $ — $ — $ 3 $ — $ — Cost of products sold (effective portion) — 3 — — — 33 — — Other expense/(income), net — (46 ) — — — (14 ) — — Interest expense — — — (2 ) — — — (2 ) — (43 ) — (2 ) — 22 — (2 ) Derivatives not designated as hedging instruments: Gains/(losses) on derivatives recognized in cost of products sold (37 ) — — — 11 — — — Gains/(losses) on derivatives recognized in other expense/(income), net — 28 (2 ) — — (57 ) (8 ) — (37 ) 28 (2 ) — 11 (57 ) (8 ) — Total gains/(losses) recognized in statements of income $ (37 ) $ (15 ) $ (2 ) $ (2 ) $ 11 $ (35 ) $ (8 ) $ (2 )

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jul. 01, 2017
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	Our earnings per common share (“EPS”) were: For the Three Months Ended For the Six Months Ended July 1, July 3, July 1, July 3, (in millions, except per share amounts) Basic Earnings Per Common Share: Net income/(loss) attributable to common shareholders $ 1,159 $ 770 $ 2,052 $ 1,666 Weighted average shares of common stock outstanding 1,218 1,217 1,218 1,216 Net earnings/(loss) $ 0.95 $ 0.63 $ 1.69 $ 1.37 Diluted Earnings Per Common Share: Net income/(loss) attributable to common shareholders $ 1,159 $ 770 $ 2,052 $ 1,666 Weighted average shares of common stock outstanding 1,218 1,217 1,218 1,216 Effect of dilutive equity awards 11 10 11 10 Weighted average shares of common stock outstanding, including dilutive effect 1,229 1,227 1,229 1,226 Net earnings/(loss) $ 0.94 $ 0.63 $ 1.67 $ 1.36

Segment Reporting (Tables)

Segment Reporting (Tables)	6 Months Ended
	Jul. 01, 2017
Segment Reporting [Abstract]
Net Sales by Segment	Net sales by segment were (in millions): For the Three Months Ended For the Six Months Ended July 1, July 3, July 1, July 3, Net sales: United States $ 4,634 $ 4,692 $ 9,186 $ 9,407 Canada 597 638 1,040 1,142 Europe 595 625 1,138 1,208 Rest of World 851 838 1,677 1,606 Total net sales $ 6,677 $ 6,793 $ 13,041 $ 13,363
Segment Adjusted EBITDA	Segment Adjusted EBITDA was (in millions): For the Three Months Ended For the Six Months Ended July 1, July 3, July 1, July 3, Segment Adjusted EBITDA: United States $ 1,566 $ 1,518 $ 3,038 $ 3,011 Canada 189 192 315 343 Europe 202 221 372 401 Rest of World 180 202 326 368 General corporate expenses (36 ) (46 ) (65 ) (85 ) Depreciation and amortization (excluding integration and restructuring expenses) (137 ) (124 ) (269 ) (285 ) Integration and restructuring expenses 6 (284 ) (142 ) (544 ) Merger costs — (14 ) — (29 ) Unrealized gains/(losses) on commodity hedges 13 37 (29 ) 45 Impairment losses (48 ) (53 ) (48 ) (53 ) Nonmonetary currency devaluation — (2 ) — (3 ) Equity award compensation expense (excluding integration and restructuring expenses) (14 ) (11 ) (26 ) (20 ) Operating income 1,921 1,636 3,472 3,149 Interest expense 307 264 620 513 Other expense/(income), net 24 6 12 (2 ) Income/(loss) before income taxes $ 1,590 $ 1,366 $ 2,840 $ 2,638
Net Sales by Product	Our net sales by product category were (in millions): For the Three Months Ended For the Six Months Ended July 1, July 3, July 1, July 3, Condiments and sauces $ 1,710 $ 1,760 $ 3,223 $ 3,324 Cheese and dairy 1,319 1,350 2,618 2,716 Ambient meals 541 559 1,124 1,149 Frozen and chilled meals 639 626 1,292 1,253 Meats and seafood 695 727 1,355 1,423 Refreshment beverages 437 442 809 850 Coffee 340 356 690 739 Infant and nutrition 211 216 399 406 Desserts, toppings and baking 233 235 429 445 Nuts and salted snacks 252 255 484 515 Other 300 267 618 543 Total net sales $ 6,677 $ 6,793 $ 13,041 $ 13,363

Supplemental Financial Inform36

Supplemental Financial Information (Tables)	6 Months Ended
	Jul. 01, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Condensed Consolidating Statements of Income	The Kraft Heinz Company Condensed Consolidating Statements of Income For the Three Months Ended July 1, 2017 (in millions) (Unaudited) Parent Guarantor Subsidiary Issuer Non-Guarantor Subsidiaries Eliminations Consolidated Net sales $ — $ 4,411 $ 2,404 $ (138 ) $ 6,677 Cost of products sold — 2,510 1,624 (138 ) 3,996 Gross profit — 1,901 780 — 2,681 Selling, general and administrative expenses — 165 595 — 760 Intercompany service fees and other recharges — 1,321 (1,321 ) — — Operating income — 415 1,506 — 1,921 Interest expense — 296 11 — 307 Other expense/(income), net — (48 ) 72 — 24 Income/(loss) before income taxes — 167 1,423 — 1,590 Provision for/(benefit from) income taxes — (69 ) 499 — 430 Equity in earnings of subsidiaries 1,159 923 — (2,082 ) — Net income/(loss) 1,159 1,159 924 (2,082 ) 1,160 Net income/(loss) attributable to noncontrolling interest — — 1 — 1 Net income/(loss) excluding noncontrolling interest $ 1,159 $ 1,159 $ 923 $ (2,082 ) $ 1,159 Comprehensive income/(loss) excluding noncontrolling interest $ 1,300 $ 1,300 $ 1,344 $ (2,644 ) $ 1,300 The Kraft Heinz Company Condensed Consolidating Statements of Income For the Three Months Ended July 3, 2016 (in millions) (Unaudited) Parent Guarantor Subsidiary Issuer Non-Guarantor Subsidiaries Eliminations Consolidated Net sales $ — $ 4,479 $ 2,474 $ (160 ) $ 6,793 Cost of products sold — 2,741 1,681 (160 ) 4,262 Gross profit — 1,738 793 — 2,531 Selling, general and administrative expenses — 307 588 — 895 Intercompany service fees and other recharges — 1,311 (1,311 ) — — Operating income — 120 1,516 — 1,636 Interest expense — 253 11 — 264 Other expense/(income), net — 55 (49 ) — 6 Income/(loss) before income taxes — (188 ) 1,554 — 1,366 Provision for/(benefit from) income taxes — (92 ) 503 — 411 Equity in earnings of subsidiaries 950 1,046 — (1,996 ) — Net income/(loss) 950 950 1,051 (1,996 ) 955 Net income/(loss) attributable to noncontrolling interest — — 5 — 5 Net income/(loss) excluding noncontrolling interest $ 950 $ 950 $ 1,046 $ (1,996 ) $ 950 Comprehensive income/(loss) excluding noncontrolling interest $ 577 $ 577 $ 579 $ (1,156 ) $ 577 The Kraft Heinz Company Condensed Consolidating Statements of Income For the Six Months Ended July 1, 2017 (in millions) (Unaudited) Parent Guarantor Subsidiary Issuer Non-Guarantor Subsidiaries Eliminations Consolidated Net sales $ — $ 8,771 $ 4,570 $ (300 ) $ 13,041 Cost of products sold — 5,224 3,135 (300 ) 8,059 Gross profit — 3,547 1,435 — 4,982 Selling, general and administrative expenses — 349 1,161 — 1,510 Intercompany service fees and other recharges — 2,429 (2,429 ) — — Operating income — 769 2,703 — 3,472 Interest expense — 599 21 — 620 Other expense/(income), net — (31 ) 43 — 12 Income/(loss) before income taxes — 201 2,639 — 2,840 Provision for/(benefit from) income taxes — (81 ) 870 — 789 Equity in earnings of subsidiaries 2,052 1,770 — (3,822 ) — Net income/(loss) 2,052 2,052 1,769 (3,822 ) 2,051 Net income/(loss) attributable to noncontrolling interest — — (1 ) — (1 ) Net income/(loss) excluding noncontrolling interest $ 2,052 $ 2,052 $ 1,770 $ (3,822 ) $ 2,052 Comprehensive income/(loss) excluding noncontrolling interest $ 2,372 $ 2,372 $ 3,186 $ (5,558 ) $ 2,372 The Kraft Heinz Company Condensed Consolidating Statements of Income For the Six Months Ended July 3, 2016 (in millions) (Unaudited) Parent Guarantor Subsidiary Issuer Non-Guarantor Subsidiaries Eliminations Consolidated Net sales $ — $ 8,950 $ 4,715 $ (302 ) $ 13,363 Cost of products sold — 5,573 3,183 (302 ) 8,454 Gross profit — 3,377 1,532 — 4,909 Selling, general and administrative expenses — 584 1,176 — 1,760 Intercompany service fees and other recharges — 2,525 (2,525 ) — — Operating income — 268 2,881 — 3,149 Interest expense — 488 25 — 513 Other expense/(income), net — 86 (88 ) — (2 ) Income/(loss) before income taxes — (306 ) 2,944 — 2,638 Provision for/(benefit from) income taxes — (150 ) 933 — 783 Equity in earnings of subsidiaries 1,846 2,002 — (3,848 ) — Net income/(loss) 1,846 1,846 2,011 (3,848 ) 1,855 Net income/(loss) attributable to noncontrolling interest — — 9 — 9 Net income/(loss) excluding noncontrolling interest $ 1,846 $ 1,846 $ 2,002 $ (3,848 ) $ 1,846 Comprehensive income/(loss) excluding noncontrolling interest $ 1,584 $ 1,584 $ 1,728 $ (3,312 ) $ 1,584
Condensed Consolidating Balance Sheets	The Kraft Heinz Company Condensed Consolidating Balance Sheets As of July 1, 2017 (in millions) (Unaudited) Parent Guarantor Subsidiary Issuer Non-Guarantor Subsidiaries Eliminations Consolidated ASSETS Cash and cash equivalents $ — $ 556 $ 889 $ — $ 1,445 Trade receivables — 20 893 — 913 Receivables due from affiliates — 775 210 (985 ) — Dividends due from affiliates 65 — — (65 ) — Sold receivables — — 521 — 521 Inventories — 2,001 1,064 — 3,065 Short-term lending due from affiliates — 1,874 3,443 (5,317 ) — Other current assets — 3,161 225 (2,222 ) 1,164 Total current assets 65 8,387 7,245 (8,589 ) 7,108 Property, plant and equipment, net — 4,473 2,335 — 6,808 Goodwill — 11,067 33,498 — 44,565 Investments in subsidiaries 58,333 71,228 — (129,561 ) — Intangible assets, net — 3,294 56,106 — 59,400 Long-term lending due from affiliates — 1,700 2,000 (3,700 ) — Other assets — 527 1,008 — 1,535 TOTAL ASSETS $ 58,398 $ 100,676 $ 102,192 $ (141,850 ) $ 119,416 LIABILITIES AND EQUITY Commercial paper and other short-term debt $ — $ 1,086 $ 4 $ — $ 1,090 Current portion of long-term debt — 9 10 — 19 Short-term lending due to affiliates — 3,443 1,874 (5,317 ) — Trade payables — 2,193 1,695 — 3,888 Payables due to affiliates — 210 775 (985 ) — Accrued marketing — 128 366 — 494 Accrued postemployment costs — 84 73 — 157 Income taxes payable — — 2,375 (2,222 ) 153 Interest payable — 397 9 — 406 Dividends due to affiliates — 65 — (65 ) — Other current liabilities 65 477 607 — 1,149 Total current liabilities 65 8,092 7,788 (8,589 ) 7,356 Long-term debt — 28,960 1,019 — 29,979 Long-term borrowings due to affiliates — 2,000 1,917 (3,917 ) — Deferred income taxes — 1,327 19,560 — 20,887 Accrued postemployment costs — 1,687 288 — 1,975 Other liabilities — 277 396 — 673 TOTAL LIABILITIES 65 42,343 30,968 (12,506 ) 60,870 Total shareholders’ equity 58,333 58,333 71,011 (129,344 ) 58,333 Noncontrolling interest — — 213 — 213 TOTAL EQUITY 58,333 58,333 71,224 (129,344 ) 58,546 TOTAL LIABILITIES AND EQUITY $ 58,398 $ 100,676 $ 102,192 $ (141,850 ) $ 119,416 The Kraft Heinz Company Condensed Consolidating Balance Sheets As of December 31, 2016 (in millions) (Unaudited) Parent Guarantor Subsidiary Issuer Non-Guarantor Subsidiaries Eliminations Consolidated ASSETS Cash and cash equivalents $ — $ 2,830 $ 1,374 $ — $ 4,204 Trade receivables — 12 757 — 769 Receivables due from affiliates — 712 111 (823 ) — Dividends due from affiliates 39 — — (39 ) — Sold receivables — — 129 — 129 Inventories — 1,759 925 — 2,684 Short-term lending due from affiliates — 1,722 2,956 (4,678 ) — Other current assets — 2,229 447 (1,709 ) 967 Total current assets 39 9,264 6,699 (7,249 ) 8,753 Property, plant and equipment, net — 4,447 2,241 — 6,688 Goodwill — 11,067 33,058 — 44,125 Investments in subsidiaries 57,358 70,877 — (128,235 ) — Intangible assets, net — 3,364 55,933 — 59,297 Long-term lending due from affiliates — 1,700 2,000 (3,700 ) — Other assets — 501 1,116 — 1,617 TOTAL ASSETS $ 57,397 $ 101,220 $ 101,047 $ (139,184 ) $ 120,480 LIABILITIES AND EQUITY Commercial paper and other short-term debt $ — $ 642 $ 3 $ — $ 645 Current portion of long-term debt — 2,032 14 — 2,046 Short-term lending due to affiliates — 2,956 1,722 (4,678 ) — Trade payables — 2,376 1,620 — 3,996 Payables due to affiliates — 111 712 (823 ) — Accrued marketing — 277 472 — 749 Accrued postemployment costs — 144 13 — 157 Income taxes payable — — 1,964 (1,709 ) 255 Interest payable — 401 14 — 415 Dividends due to affiliates — 39 — (39 ) — Other current liabilities 39 588 611 — 1,238 Total current liabilities 39 9,566 7,145 (7,249 ) 9,501 Long-term debt — 28,736 977 — 29,713 Long-term borrowings due to affiliates — 2,000 1,902 (3,902 ) — Deferred income taxes — 1,382 19,466 — 20,848 Accrued postemployment costs — 1,754 284 — 2,038 Other liabilities — 424 382 — 806 TOTAL LIABILITIES 39 43,862 30,156 (11,151 ) 62,906 Total shareholders’ equity 57,358 57,358 70,675 (128,033 ) 57,358 Noncontrolling interest — — 216 — 216 TOTAL EQUITY 57,358 57,358 70,891 (128,033 ) 57,574 TOTAL LIABILITIES AND EQUITY $ 57,397 $ 101,220 $ 101,047 $ (139,184 ) $ 120,480
Condensed Consolidating Statements of Cash Flows	The Kraft Heinz Company Condensed Consolidating Statements of Cash Flows For the Six Months Ended July 1, 2017 (in millions) (Unaudited) (As Restated) Parent Guarantor Subsidiary Issuer Non-Guarantor Subsidiaries Eliminations Consolidated CASH FLOWS FROM OPERATING ACTIVITIES Net cash provided by/(used for) operating activities $ 1,434 $ 812 $ (990 ) $ (1,434 ) $ (178 ) CASH FLOWS FROM INVESTING ACTIVITIES Cash receipts on sold receivables — — 1,069 — 1,069 Capital expenditures — (470 ) (220 ) — (690 ) Net proceeds from/(payments on) intercompany lending activities — 141 (237 ) 96 — Additional investments in subsidiaries (12 ) — — 12 — Other investing activities, net — 41 3 — 44 Net cash provided by/(used for) investing activities (12 ) (288 ) 615 108 423 CASH FLOWS FROM FINANCING ACTIVITIES Repayments of long-term debt — (2,023 ) (9 ) — (2,032 ) Proceeds from issuance of commercial paper — 4,213 — — 4,213 Repayments of commercial paper — (3,777 ) — — (3,777 ) Net proceeds from/(payments on) intercompany borrowing activities — 237 (141 ) (96 ) — Dividends paid-common stock (1,434 ) (1,434 ) — 1,434 (1,434 ) Other intercompany capital stock transactions — 12 — (12 ) — Other financing activities, net 12 — 7 — 19 Net cash provided by/(used for) financing activities (1,422 ) (2,772 ) (143 ) 1,326 (3,011 ) Effect of exchange rate changes on cash, cash equivalents, and restricted cash — — 29 — 29 Cash, cash equivalents, and restricted cash: Net increase/(decrease) — (2,248 ) (489 ) — (2,737 ) Balance at beginning of period — 2,869 1,386 — 4,255 Balance at end of period $ — $ 621 $ 897 $ — $ 1,518 The Kraft Heinz Company Condensed Consolidating Statements of Cash Flows For the Six Months Ended July 3, 2016 (in millions) (Unaudited) (As Restated) Parent Guarantor Subsidiary Issuer Non-Guarantor Subsidiaries Eliminations Consolidated CASH FLOWS FROM OPERATING ACTIVITIES Net cash provided by/(used for) operating activities $ 847 $ 1,520 $ (621 ) $ (847 ) $ 899 CASH FLOWS FROM INVESTING ACTIVITIES Cash receipts on sold receivables — — 1,205 — 1,205 Capital expenditures — (346 ) (168 ) — (514 ) Net proceeds from/(payments on) intercompany lending activities — 595 107 (702 ) — Additional investments in subsidiaries — (10 ) — 10 — Return of capital 8,987 — — (8,987 ) — Other investing activities, net — 86 (24 ) — 62 Net cash provided by/(used for) investing activities 8,987 325 1,120 (9,679 ) 753 CASH FLOWS FROM FINANCING ACTIVITIES Repayments of long-term debt — (8 ) (4 ) — (12 ) Proceeds from issuance of long-term debt — 6,980 2 — 6,982 Proceeds from issuance of commercial paper — 1,939 — — 1,939 Repayments of commercial paper — (1,307 ) — — (1,307 ) Net proceeds from/(payments on) intercompany borrowing activities — (107 ) (595 ) 702 — Dividends paid-Series A Preferred Stock (180 ) — — — (180 ) Dividends paid-common stock (1,334 ) (1,514 ) — 1,514 (1,334 ) Redemption of Series A Preferred Stock (8,320 ) — — — (8,320 ) Other intercompany capital stock transactions — (8,320 ) 10 8,310 — Other financing activities, net — 45 (2 ) — 43 Net cash provided by/(used for) financing activities (9,834 ) (2,292 ) (589 ) 10,526 (2,189 ) Effect of exchange rate changes on cash, cash equivalents, and restricted cash — — 1 — 1 Cash, cash equivalents, and restricted cash: Net increase/(decrease) — (447 ) (89 ) — (536 ) Balance at beginning of period — 3,253 1,659 — 4,912 Balance at end of period $ — $ 2,806 $ 1,570 $ — $ 4,376
Reconciliation from Cash and Cash Equivalents to Cash, Cash Equivalents, and Restricted Cash	The following table provides a reconciliation of cash and cash equivalents, as reported on our condensed consolidated balance sheets, to cash, cash equivalents, and restricted cash, as reported on our condensed consolidated statements of cash flows (in millions): July 1, 2017 December 31, 2016 Cash and cash equivalents $ 1,445 $ 4,204 Restricted cash included in other assets (current) 73 42 Restricted cash included in other assets (noncurrent) — 9 Cash, cash equivalents, and restricted cash $ 1,518 $ 4,255 The following tables provide a reconciliation of cash and cash equivalents, as reported on our unaudited condensed consolidating balance sheets, to cash, cash equivalents, and restricted cash, as reported on our unaudited condensed consolidating statements of cash flows (in millions): July 1, 2017 Parent Guarantor Subsidiary Issuer Non-Guarantor Subsidiaries Eliminations Consolidated Cash and cash equivalents $ — $ 556 $ 889 $ — $ 1,445 Restricted cash included in other assets (current) — 65 8 — 73 Restricted cash included in other assets (noncurrent) — — — — — Cash, cash equivalents, and restricted cash $ — $ 621 $ 897 $ — $ 1,518 December 31, 2016 Parent Guarantor Subsidiary Issuer Non-Guarantor Subsidiaries Eliminations Consolidated Cash and cash equivalents $ — $ 2,830 $ 1,374 $ — $ 4,204 Restricted cash included in other assets (current) — 39 3 — 42 Restricted cash included in other assets (noncurrent) — — 9 — 9 Cash, cash equivalents, and restricted cash $ — $ 2,869 $ 1,386 $ — $ 4,255

Background and Basis of Prese37

Background and Basis of Presentation Schedule of Error Corrections and Prior Period Adjustments (Details) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Jul. 01, 2017	Jul. 03, 2016	Dec. 31, 2016
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Increase/(decrease) in trade receivables	$ (1,598)	$ (994)
Increase/(decrease) in sold receivables	0	0
Net cash provided by/(used for) operating activities	(178)	899
Cash receipts on sold receivables	1,069	1,205	$ 2,600
Net cash provided by/(used for) investing activities	423	753
Adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Increase/(decrease) in trade receivables	(1,459)	(768)
Increase/(decrease) in sold receivables	390	(437)
Net cash provided by/(used for) operating activities	(1,069)	(1,205)
Cash receipts on sold receivables	1,069	1,205
Net cash provided by/(used for) investing activities	1,069	1,205
As Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Increase/(decrease) in trade receivables	(139)	(226)
Increase/(decrease) in sold receivables	(390)	437
Net cash provided by/(used for) operating activities	891	2,104
Cash receipts on sold receivables	0	0
Net cash provided by/(used for) investing activities	$ (646)	$ (452)

Background and Basis of Prese38

Background and Basis of Presentation Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jul. 01, 2017	Jul. 03, 2016	Jul. 01, 2017	Jul. 03, 2016	Dec. 31, 2016	Dec. 31, 2017	Jan. 03, 2016
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Effective income tax rate reconciliation, share based compensation, excess tax benefit, amount	$ (430)	$ (411)	$ (789)	$ (783)
Cash receipts on sold receivables			1,069	1,205	$ 2,600
Dividends paid-Series A Preferred Stock			0	180
Accounting Standards Update 2016-09
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Effective income tax rate reconciliation, share based compensation, excess tax benefit, amount	$ 8		16
Accounting Standards Update 2016-18
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Restricted cash		$ 140		$ 140	51		$ 75
Dividends paid-Series A Preferred Stock			$ 64		$ 24
Forecast | Accounting Standards Update 2016-16
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Cumulative effect adjustment to retained earnings						$ 100

Integration and Restructuring39

Integration and Restructuring Expenses Additional Information (Details) $ in Millions	3 Months Ended		6 Months Ended		24 Months Ended
	Jul. 01, 2017USD ($)	Jul. 03, 2016USD ($)	Jul. 01, 2017USD ($)employee	Jul. 03, 2016USD ($)	Jul. 01, 2017USD ($)employeefactory
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	$ (6)	$ 284	$ 142	$ 544
Integration Program
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost	$ 2,000		$ 2,000		$ 2,000
Restructuring and Related Cost, Expected Cost, Classified as Costs of Products Sold, Percent	60.00%		60.00%		60.00%
Restructuring and Related Cost, Expected Number of Positions Eliminated | employee					5,150
Restructuring and Related Activities, Expected Number of Facilities Eliminated | factory					6
Restructuring and Related Cost, Number of Positions Eliminated | employee					4,100
Restructuring and Related Cost, Number of Facilities Eliminated | factory					5
Restructuring and Related Cost, Incurred Cost	$ (49)	259	$ 78	500
Restructuring and Related Cost, Cost Incurred to Date	$ 1,800		$ 1,800		$ 1,800
Restructuring and Related Cost, Expected Cost, Cash Expenditures, Percent	60.00%		60.00%		60.00%
Restructuring Activities
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Number of Positions Eliminated | employee			400
Restructuring and Related Cost, Incurred Cost	$ 43	25	$ 64	44
Organization Costs | Integration Program
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost	400		400		$ 400
Footprint Costs | Integration Program
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost	1,200		1,200		1,200
Other Costs | Integration Program
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost	400		400		400
Severance and Employee Benefit Costs | Integration Program
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date	576		576		576
Severance and Employee Benefit Costs | Restructuring Activities
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	19		29
Asset-Related Costs | Integration Program
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date	762		762		762
Asset-Related Costs | Restructuring Activities
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost			1
Other Implementation Costs | Integration Program
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date	343		343		343
Other Implementation Costs | Restructuring Activities
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	15		25
Other Exit Costs | Integration Program
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date	113		113		$ 113
Other Exit Costs | Restructuring Activities
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	9		9
Postretirement Plans
Restructuring Cost and Reserve [Line Items]
Curtailments	$ (168)	$ 0	$ (168)	$ 0

Integration and Restructuring40

Integration and Restructuring Expenses Integration Program Reserve Roll-forward (Details) - Integration Program $ in Millions	6 Months Ended
	Jul. 01, 2017USD ($)
Restructuring Reserve [Roll Forward]
Beginning Balance	$ 109
Charges	(87)
Cash payments	(50)
Non-cash utilization	150
Ending Balance	122
Severance and Employee Benefit Costs
Restructuring Reserve [Roll Forward]
Beginning Balance	99
Charges	(105)
Cash payments	(47)
Non-cash utilization	154
Ending Balance	101
Other Exit Costs
Restructuring Reserve [Roll Forward]
Beginning Balance	10
Charges	18
Cash payments	(3)
Non-cash utilization	(4)
Ending Balance	$ 21

Integration and Restructuring41

Integration and Restructuring Expenses Restructuring Reserve Roll-forward (Details) - Restructuring Activities $ in Millions	6 Months Ended
	Jul. 01, 2017USD ($)
Restructuring Reserve [Roll Forward]
Beginning Balance	$ 37
Charges	38
Cash payments	(29)
Non-cash utilization	(5)
Ending Balance	41
Severance and Employee Benefit Costs
Restructuring Reserve [Roll Forward]
Beginning Balance	12
Charges	29
Cash payments	(25)
Non-cash utilization	(6)
Ending Balance	10
Other Exit Costs
Restructuring Reserve [Roll Forward]
Beginning Balance	25
Charges	9
Cash payments	(4)
Non-cash utilization	1
Ending Balance	$ 31

Integration and Restructuring42

Integration and Restructuring Expenses Restructuring Costs by Type and Income Statement Location (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 01, 2017	Jul. 03, 2016	Jul. 01, 2017	Jul. 03, 2016
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	$ (6)	$ 284	$ 142	$ 544
Severance and Employee Benefit Costs | Cost of products sold
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	(136)	23	(117)	29
Severance and Employee Benefit Costs | Selling, general and administrative expenses
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	16	14	41	46
Asset-Related Costs | Cost of products sold
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	25	137	100	279
Asset-Related Costs | Selling, general and administrative expenses
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	6	12	13	26
Other Costs | Cost of products sold
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	52	39	61	72
Other Costs | Selling, general and administrative expenses
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	$ 31	$ 59	$ 44	$ 92

Integration and Restructuring43

Integration and Restructuring Expenses Restructuring Costs Excluded from Segments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 01, 2017	Jul. 03, 2016	Jul. 01, 2017	Jul. 03, 2016
Segment Reporting Information [Line Items]
Restructuring and Related Cost, Incurred Cost	$ (6)	$ 284	$ 142	$ 544
United States
Segment Reporting Information [Line Items]
Restructuring and Related Cost, Incurred Cost	(65)	247	43	446
Canada
Segment Reporting Information [Line Items]
Restructuring and Related Cost, Incurred Cost	14	9	24	27
Europe
Segment Reporting Information [Line Items]
Restructuring and Related Cost, Incurred Cost	25	13	39	28
Rest of World
Segment Reporting Information [Line Items]
Restructuring and Related Cost, Incurred Cost	11	0	11	0
General corporate expenses
Segment Reporting Information [Line Items]
Restructuring and Related Cost, Incurred Cost	$ 9	$ 15	$ 25	$ 43

Restricted Cash Reconciliation

Restricted Cash Reconciliation from Cash and Cash Equivalents to Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in Millions	Jul. 01, 2017	Dec. 31, 2016	Jul. 03, 2016	Jan. 03, 2016
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]
Cash and cash equivalents	$ 1,445	$ 4,204
Restricted cash included in other assets (current)	73	42
Restricted cash included in other assets (noncurrent)	0	9
Cash, cash equivalents, and restricted cash	$ 1,518	$ 4,255	$ 4,376	$ 4,912

Inventories Components of Inven

Inventories Components of Inventories (Details) - USD ($) $ in Millions	Jul. 01, 2017	Dec. 31, 2016
Inventory Disclosure [Abstract]
Packaging and ingredients	$ 678	$ 542
Work in process	495	388
Finished product	1,892	1,754
Inventories	$ 3,065	$ 2,684

Goodwill and Intangible Asset46

Goodwill and Intangible Assets Goodwill by Segment (Details) $ in Millions	6 Months Ended
	Jul. 01, 2017USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 44,125
Translation adjustments	440
Ending balance	44,565
United States
Goodwill [Roll Forward]
Beginning balance	33,696
Translation adjustments	0
Ending balance	33,696
Canada
Goodwill [Roll Forward]
Beginning balance	4,913
Translation adjustments	177
Ending balance	5,090
Europe
Goodwill [Roll Forward]
Beginning balance	2,778
Translation adjustments	168
Ending balance	2,946
Rest of World
Goodwill [Roll Forward]
Beginning balance	2,738
Translation adjustments	95
Ending balance	$ 2,833

Goodwill and Intangible Asset47

Goodwill and Intangible Assets Goodwill - Additional Information (Details)	Apr. 02, 2017USD ($)	Jul. 01, 2017USD ($)goodwill_reporting_unit	Dec. 31, 2016USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill, impairment loss	$ 0
Reporting Unit, Percentage of Fair Value in Excess of Carrying Amount	10.00%
Number of reporting units | goodwill_reporting_unit		18
Goodwill		$ 44,565,000,000	$ 44,125,000,000
Goodwill, impaired, accumulated impairment loss		$ 0

Goodwill and Intangible Asset48

Goodwill and Intangible Assets Indefinite-Lived Intangible Assets (Details) $ in Millions	6 Months Ended
	Jul. 01, 2017USD ($)
Indefinite-lived Intangible Assets [Roll Forward]
Beginning balance	$ 53,307
Translation adjustments	237
Impairment losses on indefinite-lived intangible assets	48
Ending balance	$ 53,496

Goodwill and Intangible Asset49

Goodwill and Intangible Assets Indefinite-Lived Intangible Assets - Additional Information (Details) - USD ($) $ in Millions	6 Months Ended
	Jul. 01, 2017	Apr. 02, 2017	Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Impairment losses on indefinite-lived intangible assets	$ (48)
Reporting Unit, Percentage of Fair Value in Excess of Carrying Amount		10.00%
Indefinite-lived intangible assets	$ 53,496		$ 53,307

Goodwill and Intangible Asset50

Goodwill and Intangible Assets Definite-Lived Intangible Assets (Details) - USD ($) $ in Millions	Jul. 01, 2017	Dec. 31, 2016
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Gross	$ 6,592	$ 6,534
Accumulated Amortization	(688)	(544)
Net	5,904	5,990
Trademarks
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Gross	2,362	2,337
Accumulated Amortization	(226)	(172)
Net	2,136	2,165
Customer-related assets
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Gross	4,216	4,184
Accumulated Amortization	(458)	(369)
Net	3,758	3,815
Other
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Gross	14	13
Accumulated Amortization	(4)	(3)
Net	$ 10	$ 10

Goodwill and Intangible Asset51

Goodwill and Intangible Assets Definite-Lived Intangible Assets - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 01, 2017	Jul. 03, 2016	Jul. 01, 2017	Jul. 03, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 77	$ 66	$ 144	$ 132
Amortization of intangible assets, next twelve months	270		270
Amortization of intangible assets, year two	270		270
Amortization of intangible assets, year three	270		270
Amortization of intangible assets, year four	270		270
Amortization of intangible assets, year five	$ 270		$ 270

Income Taxes Additional Informa

Income Taxes Additional Information (Details)	3 Months Ended		6 Months Ended
	Jul. 01, 2017	Jul. 03, 2016	Jul. 01, 2017	Jul. 03, 2016
Income Tax Disclosure [Abstract]
Effective tax rate	27.10%	30.10%	27.80%	29.70%

Employees' Stock Incentive Pl53

Employees' Stock Incentive Plans Schedule of Share-Based Compensation, Stock Option Activity (Details)	6 Months Ended
	Jul. 01, 2017$ / sharesshares
Roll-forward of Stock Option Activity (in shares)
Beginning balance | shares	20,560,140
Granted | shares	1,219,904
Forfeited | shares	(387,121)
Exercised | shares	(1,761,346)
Ending balance | shares	19,631,577
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Options outstanding at period start, weighted average exercise price (in dollars per share) | $ / shares	$ 37.39
Options granted, weighted average exercise price (in dollars per share) | $ / shares	91.40
Options forfeited, weighted average exercise price (in dollars per share) | $ / shares	51.18
Options exercised, weighted average exercise price (in dollars per share) | $ / shares	32.65
Options outstanding at period end, weighted average exercise price (in dollars per share) | $ / shares	$ 40.91

Employees' Stock Incentive Pl54

Employees' Stock Incentive Plans Additional Information (Details) $ in Millions	6 Months Ended
	Jul. 01, 2017USD ($)
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Options, exercises in period, intrinsic value	$ 103
RSUs vested during the period, fair value	$ 11

Employees' Stock Incentive Pl55

Employees' Stock Incentive Plans Schedule of Share-Based Compensation, RSU Activity (Details)	6 Months Ended
	Jul. 01, 2017$ / sharesshares
Roll-forward of RSU Activity (in shares)
Beginning balance | shares	806,744
Granted | shares	1,670,051
Forfeited | shares	(146,922)
Vested | shares	(126,707)
Ending balance | shares	2,203,166
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Weighted average grant date fair value (in dollars per share) | $ / shares	$ 71.95
Granted, weighted average exercise price (in dollars per share) | $ / shares	85.03
Forfeited, weighted average exercise price (in dollars per share) | $ / shares	82.38
Vested, weighted average exercise price (in dollars per share) | $ / shares	72.96
Weighted average grant date fair value (in dollars per share) | $ / shares	$ 81.37

Postemployment Benefits Pension

Postemployment Benefits Pension Plans - Components of Net Pension Cost/(Benefit) (Details) - Pension Plan - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 01, 2017	Jul. 03, 2016	Jul. 01, 2017	Jul. 03, 2016
Foreign Plan
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 4	$ 6	$ 8	$ 12
Interest cost	16	22	32	43
Expected return on plan assets	(43)	(47)	(86)	(93)
Amortization of unrecognized losses/(gains)	(1)	0	(1)	0
Settlements	0	0	0	0
Special/contractual termination benefits	2	0	8	0
Other	0	0	(9)	0
Net pension cost/(benefit)	(20)	(19)	(46)	(38)
Domestic Plan
Defined Benefit Plan Disclosure [Line Items]
Service cost	2	4	5	7
Interest cost	46	53	91	106
Expected return on plan assets	(66)	(74)	(131)	(148)
Amortization of unrecognized losses/(gains)	0	0	0	0
Settlements	0	0	0	(6)
Special/contractual termination benefits	6	0	13	0
Other	0	0	2	0
Net pension cost/(benefit)	$ (12)	$ (17)	$ (20)	$ (41)

Postemployment Benefits Postemp

Postemployment Benefits Postemployment Benefit Plans - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 01, 2017	Jul. 03, 2016	Jul. 01, 2017	Jul. 03, 2016
Postretirement Plans
Defined Benefit Plan Disclosure [Line Items]
Curtailments	$ (168)	$ 0	$ (168)	$ 0
Foreign Plan | Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Employer contribution			17
Estimated future employer contributions in 2017	40		40
Domestic Plan | Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Employer contribution			0
Estimated future employer contributions in 2017	$ 150		$ 150

Postemployment Benefits Postret

Postemployment Benefits Postretirement Plans - Components of Net Postretirement Cost/(Benefit) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 01, 2017	Jul. 03, 2016	Jul. 01, 2017	Jul. 03, 2016
Defined Benefit Plan Disclosure [Line Items]
Amortization of prior service costs/(credits)			$ (171)	$ (131)
Postretirement Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 3	$ 4	5	8
Interest cost	12	14	25	30
Amortization of prior service costs/(credits)	(83)	(80)	(173)	(162)
Curtailments	(168)	0	(168)	0
Net pension cost/(benefit)	$ (236)	$ (62)	$ (311)	$ (124)

Accumulated Other Comprehensi59

Accumulated Other Comprehensive Income/(Losses) Components of and Changes in Accumulated Other Comprehensive Income/(Losses) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 01, 2017	Jul. 03, 2016	Jul. 01, 2017	Jul. 03, 2016
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			$ (1,628)
Foreign currency translation adjustments	$ 451	$ (418)	758	$ (146)
Net deferred gains/(losses) on net investment hedges	(152)	105	(203)	45
Reclassification of net postemployment benefit losses/(gains)	(154)	(50)	(209)	(104)
Net deferred gains/(losses) on cash flow hedges	(32)	(14)	(66)	(32)
Net deferred losses/(gains) on cash flow hedges reclassified to net income	26	4	46	(18)
Ending balance	(1,308)		(1,308)
Foreign Currency Translation Adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			(2,412)
Foreign currency translation adjustments			760
Net deferred gains/(losses) on net investment hedges			(203)
Net postemployment benefit gains/(losses) arising during the period			0
Reclassification of net postemployment benefit losses/(gains)			0
Net deferred gains/(losses) on cash flow hedges			0
Net deferred losses/(gains) on cash flow hedges reclassified to net income			0
Total other comprehensive income/(loss)			557
Ending balance	(1,855)		(1,855)
Net Postemployment Benefit Plan Adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			772
Foreign currency translation adjustments			0
Net deferred gains/(losses) on net investment hedges			0
Net postemployment benefit gains/(losses) arising during the period			(8)
Reclassification of net postemployment benefit losses/(gains)			(209)
Net deferred gains/(losses) on cash flow hedges			0
Net deferred losses/(gains) on cash flow hedges reclassified to net income			0
Total other comprehensive income/(loss)			(217)
Ending balance	555		555
Net Cash Flow Hedge Adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			12
Foreign currency translation adjustments			0
Net deferred gains/(losses) on net investment hedges			0
Net postemployment benefit gains/(losses) arising during the period			0
Reclassification of net postemployment benefit losses/(gains)			0
Net deferred gains/(losses) on cash flow hedges			(66)
Net deferred losses/(gains) on cash flow hedges reclassified to net income			46
Total other comprehensive income/(loss)			(20)
Ending balance	(8)		(8)
AOCI Attributable to Parent
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			(1,628)
Foreign currency translation adjustments	451	(418)	760	(153)
Net deferred gains/(losses) on net investment hedges	(152)	105	(203)	45
Net postemployment benefit gains/(losses) arising during the period			(8)
Reclassification of net postemployment benefit losses/(gains)	(154)	(50)	(209)	(104)
Net deferred gains/(losses) on cash flow hedges	(32)	(14)	(66)	(32)
Net deferred losses/(gains) on cash flow hedges reclassified to net income	26	$ 4	46	$ (18)
Total other comprehensive income/(loss)			320
Ending balance	$ (1,308)		$ (1,308)

Accumulated Other Comprehensi60

Accumulated Other Comprehensive Income/(Losses) Gross Amount and Related Tax Benefit/(Expense) Recorded in and Associated with each Component of Other Comprehensive Income/(Loss) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 01, 2017	Jul. 03, 2016	Jul. 01, 2017	Jul. 03, 2016
Accumulated Other Comprehensive Income/(Losses) [Line Items]
Foreign currency translation adjustments, net of tax	$ 451	$ (418)	$ 758	$ (146)
Net deferred gains/(losses) on net investment hedges, net of tax	(152)	105	(203)	45
Net actuarial gains/(losses) arising during the period, net of tax	1	0	(9)	0
Prior service credits/(costs) arising during the period, net of tax	1	0	1	0
Reclassification of net postemployment benefit losses/(gains), net of tax	154	50	209	104
Net deferred gains/(losses) on cash flow hedges, net of tax	(32)	(14)	(66)	(32)
Net deferred losses/(gains) on cash flow hedges reclassified to net income, net of tax	26	4	46	(18)
AOCI Attributable to Parent
Accumulated Other Comprehensive Income/(Losses) [Line Items]
Foreign currency translation adjustments, before tax	451	(418)	760	(153)
Foreign currency translation adjustments, tax	0	0	0	0
Foreign currency translation adjustments, net of tax	451	(418)	760	(153)
Net deferred gains/(losses) on net investment hedges, before tax	(290)	194	(368)	110
Net deferred gains/(losses) on net investment hedges, tax	138	(89)	165	(65)
Net deferred gains/(losses) on net investment hedges, net of tax	(152)	105	(203)	45
Net actuarial gains/(losses) arising during the period, before tax	2	0	(10)	0
Net actuarial gains/(losses) arising during the period, tax	(1)	0	1	0
Net actuarial gains/(losses) arising during the period, net of tax	1	0	(9)	0
Prior service credits/(costs) arising during the period, before tax	2	0	2	0
Prior service credits/(costs) arising during the period, tax	1	0	1	0
Prior service credits/(costs) arising during the period, net of tax	1	0	1	0
Reclassification of net postemployment benefit losses/(gains), before tax	(250)	(80)	(340)	(168)
Reclassification of net postemployment benefit losses/(gains), tax	96	30	131	64
Reclassification of net postemployment benefit losses/(gains), net of tax	154	50	209	104
Net deferred gains/(losses) on cash flow hedges, before tax	(32)	(17)	(71)	(45)
Net deferred gains/(losses) on cash flow hedges, tax	0	3	5	13
Net deferred gains/(losses) on cash flow hedges, net of tax	(32)	(14)	(66)	(32)
Net deferred losses/(gains) on cash flow hedges reclassified to net income, before tax	28	6	45	(20)
Net deferred losses/(gains) on cash flow hedges reclassified to net income, tax	(2)	(2)	1	2
Net deferred losses/(gains) on cash flow hedges reclassified to net income, net of tax	$ 26	$ 4	$ 46	$ (18)

Accumulated Other Comprehensi61

Accumulated Other Comprehensive Income/(Losses) Amounts Reclassified from Accumulated Other Comprehensive Income/(Losses) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 01, 2017	Jul. 03, 2016	Jul. 01, 2017	Jul. 03, 2016
Reclassification Adjustment out of Accumulated Other Comprehensive Income/(Losses) [Line Items]
Net deferred losses/(gains) on cash flow hedges reclassified to net income, net of tax	$ 26	$ 4	$ 46	$ (18)
Reclassification of net postemployment benefit losses/(gains), net of tax	(154)	(50)	(209)	(104)
AOCI Attributable to Parent
Reclassification Adjustment out of Accumulated Other Comprehensive Income/(Losses) [Line Items]
Losses/(gains) on cash flow hedges before income taxes	28	6	45	(20)
Losses/(gains) on cash flow hedges, income taxes	(2)	(2)	1	2
Net deferred losses/(gains) on cash flow hedges reclassified to net income, net of tax	26	4	46	(18)
Amortization of unrecognized losses/(gains)	1	0	1	0
Amortization of prior service costs/(credits)	(83)	(80)	(173)	(162)
Settlement and curtailments losses/(gains)	(168)	0	(168)	(6)
Losses/(gains) on postemployment benefits before income taxes	(250)	(80)	(340)	(168)
Losses/(gains) on postemployment benefits, income taxes	96	30	131	64
Reclassification of net postemployment benefit losses/(gains), net of tax	(154)	(50)	(209)	(104)
AOCI Attributable to Parent | Foreign exchange contracts | Net sales
Reclassification Adjustment out of Accumulated Other Comprehensive Income/(Losses) [Line Items]
Losses/(gains) on cash flow hedges before income taxes	0	(2)	0	(3)
AOCI Attributable to Parent | Foreign exchange contracts | Cost of products sold
Reclassification Adjustment out of Accumulated Other Comprehensive Income/(Losses) [Line Items]
Losses/(gains) on cash flow hedges before income taxes	(4)	(4)	(3)	(33)
AOCI Attributable to Parent | Foreign exchange contracts | Other expense/(income), net
Reclassification Adjustment out of Accumulated Other Comprehensive Income/(Losses) [Line Items]
Losses/(gains) on cash flow hedges before income taxes	31	11	46	14
AOCI Attributable to Parent | Interest rate contracts | Interest expense
Reclassification Adjustment out of Accumulated Other Comprehensive Income/(Losses) [Line Items]
Losses/(gains) on cash flow hedges before income taxes	$ 1	$ 1	$ 2	$ 2

Financial Instruments Outstandi

Financial Instruments Outstanding Notional Amounts (Details) - USD ($) $ in Millions	Jul. 01, 2017	Dec. 31, 2016
Commodity contracts
Derivative [Line Items]
Derivative, notional amount	$ 473	$ 459
Foreign exchange contracts
Derivative [Line Items]
Derivative, notional amount	3,676	2,997
Cross-currency contracts
Derivative [Line Items]
Derivative, notional amount	$ 2,950	$ 3,173

Financial Instruments Fair Valu

Financial Instruments Fair Values (Details) - USD ($) $ in Millions	Jul. 01, 2017	Dec. 31, 2016
Derivatives Fair Value [Line Items]
Derivative asset, fair value, gross asset	$ 488	$ 756
Derivative liability, fair value, gross liability	60	86
Commodity contracts | Not designated as hedging instrument
Derivatives Fair Value [Line Items]
Derivative asset, fair value, gross asset	16	28
Derivative liability, fair value, gross liability	27	7
Foreign exchange contracts | Designated as hedging instrument
Derivatives Fair Value [Line Items]
Derivative asset, fair value, gross asset	12	69
Derivative liability, fair value, gross liability	32	13
Foreign exchange contracts | Not designated as hedging instrument
Derivatives Fair Value [Line Items]
Derivative asset, fair value, gross asset	21	35
Derivative liability, fair value, gross liability	1	30
Cross-currency contracts | Designated as hedging instrument
Derivatives Fair Value [Line Items]
Derivative asset, fair value, gross asset	439	580
Derivative liability, fair value, gross liability	0	36
Cross-currency contracts | Not designated as hedging instrument
Derivatives Fair Value [Line Items]
Derivative asset, fair value, gross asset	0	44
Derivative liability, fair value, gross liability	0	0
Level 1
Derivatives Fair Value [Line Items]
Derivative asset, fair value, gross asset	15	28
Derivative liability, fair value, gross liability	26	7
Level 1 | Commodity contracts | Not designated as hedging instrument
Derivatives Fair Value [Line Items]
Derivative asset, fair value, gross asset	15	28
Derivative liability, fair value, gross liability	26	7
Level 1 | Foreign exchange contracts | Designated as hedging instrument
Derivatives Fair Value [Line Items]
Derivative asset, fair value, gross asset	0	0
Derivative liability, fair value, gross liability	0	0
Level 1 | Foreign exchange contracts | Not designated as hedging instrument
Derivatives Fair Value [Line Items]
Derivative asset, fair value, gross asset	0	0
Derivative liability, fair value, gross liability	0	0
Level 1 | Cross-currency contracts | Designated as hedging instrument
Derivatives Fair Value [Line Items]
Derivative asset, fair value, gross asset	0	0
Derivative liability, fair value, gross liability	0	0
Level 1 | Cross-currency contracts | Not designated as hedging instrument
Derivatives Fair Value [Line Items]
Derivative asset, fair value, gross asset	0	0
Derivative liability, fair value, gross liability	0	0
Level 2
Derivatives Fair Value [Line Items]
Derivative asset, fair value, gross asset	473	728
Derivative liability, fair value, gross liability	34	79
Level 2 | Commodity contracts | Not designated as hedging instrument
Derivatives Fair Value [Line Items]
Derivative asset, fair value, gross asset	1	0
Derivative liability, fair value, gross liability	1	0
Level 2 | Foreign exchange contracts | Designated as hedging instrument
Derivatives Fair Value [Line Items]
Derivative asset, fair value, gross asset	12	69
Derivative liability, fair value, gross liability	32	13
Level 2 | Foreign exchange contracts | Not designated as hedging instrument
Derivatives Fair Value [Line Items]
Derivative asset, fair value, gross asset	21	35
Derivative liability, fair value, gross liability	1	30
Level 2 | Cross-currency contracts | Designated as hedging instrument
Derivatives Fair Value [Line Items]
Derivative asset, fair value, gross asset	439	580
Derivative liability, fair value, gross liability	0	36
Level 2 | Cross-currency contracts | Not designated as hedging instrument
Derivatives Fair Value [Line Items]
Derivative asset, fair value, gross asset	0	44
Derivative liability, fair value, gross liability	0	0
Level 3
Derivatives Fair Value [Line Items]
Derivative asset, fair value, gross asset	0	0
Derivative liability, fair value, gross liability	0	0
Level 3 | Commodity contracts | Not designated as hedging instrument
Derivatives Fair Value [Line Items]
Derivative asset, fair value, gross asset	0	0
Derivative liability, fair value, gross liability	0	0
Level 3 | Foreign exchange contracts | Designated as hedging instrument
Derivatives Fair Value [Line Items]
Derivative asset, fair value, gross asset	0	0
Derivative liability, fair value, gross liability	0	0
Level 3 | Foreign exchange contracts | Not designated as hedging instrument
Derivatives Fair Value [Line Items]
Derivative asset, fair value, gross asset	0	0
Derivative liability, fair value, gross liability	0	0
Level 3 | Cross-currency contracts | Designated as hedging instrument
Derivatives Fair Value [Line Items]
Derivative asset, fair value, gross asset	0	0
Derivative liability, fair value, gross liability	0	0
Level 3 | Cross-currency contracts | Not designated as hedging instrument
Derivatives Fair Value [Line Items]
Derivative asset, fair value, gross asset	0	0
Derivative liability, fair value, gross liability	$ 0	$ 0

Financial Instruments Additiona

Financial Instruments Additional Information (Details) € in Millions, £ in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jul. 01, 2017USD ($)	Jul. 03, 2016USD ($)	Jul. 01, 2017USD ($)	Jul. 03, 2016USD ($)	Jul. 01, 2017GBP (£)	Jul. 01, 2017EUR (€)	Dec. 31, 2016USD ($)
Derivative [Line Items]
Derivative, collateral, right to reclaim cash	$ 44		$ 44				$ 67
Derivative, collateral, obligation to return cash	44		$ 44				$ 67
Foreign exchange contracts | Designated as hedging instrument
Derivative [Line Items]
Derivative, term			14 months
Foreign exchange contracts | Not designated as hedging instrument
Derivative [Line Items]
Derivative, term			8 months
Cross-currency contracts | Designated as hedging instrument
Derivative [Line Items]
Derivative, term			3 years
Commodity contracts | Not designated as hedging instrument
Derivative [Line Items]
Derivative, term			15 months
Net Investment Hedging | Designated as hedging instrument
Derivative [Line Items]
Non-derivative instruments, gain/(loss) recognized in other comprehensive income (loss), net	$ 216	$ 58	$ 260	$ 39
Euro Member Countries, Euro | Net Investment Hedging | Debt | Designated as hedging instrument
Derivative [Line Items]
Derivative, amount of hedged item | €						€ 2,550
United Kingdom, Pounds | Net Investment Hedging | Debt | Designated as hedging instrument
Derivative [Line Items]
Derivative, amount of hedged item | £					£ 400

Financial Instruments Net Inves

Financial Instruments Net Investment Hedging (Details) - Jul. 01, 2017 € in Millions, £ in Millions, $ in Millions, CAD in Billions	USD ($)	GBP (£)	EUR (€)	CAD
United Kingdom, Pounds | Cross-currency contracts
Derivative [Line Items]
Derivative asset, notional amount	$ 1,400	£ 800
Canada, Dollars | Cross-currency contracts
Derivative [Line Items]
Derivative asset, notional amount	1,600			CAD 1.8
Net Investment Hedging | Designated as hedging instrument | Foreign exchange contracts
Derivative [Line Items]
Derivative liability, notional amount | $	$ 204
Net Investment Hedging | Designated as hedging instrument | Euro Member Countries, Euro | Debt
Derivative [Line Items]
Derivative, amount of hedged item | €			€ 2,550
Net Investment Hedging | Designated as hedging instrument | United Kingdom, Pounds | Debt
Derivative [Line Items]
Derivative, amount of hedged item | £		£ 400

Financial Instruments Derivativ

Financial Instruments Derivative Impact on the Statements of Income and Statements of Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 01, 2017	Jul. 03, 2016	Jul. 01, 2017	Jul. 03, 2016
Commodity contracts
Derivatives not designated as hedging instruments:
Total amount recognized in statements of income	$ 0	$ 29	$ (37)	$ 11
Foreign exchange contracts
Derivatives not designated as hedging instruments:
Total amount recognized in statements of income	(1)	13	(15)	(35)
Cross-currency contracts
Derivatives not designated as hedging instruments:
Total amount recognized in statements of income	(1)	(1)	(2)	(8)
Interest rate contracts
Derivatives not designated as hedging instruments:
Total amount recognized in statements of income	(1)	(1)	(2)	(2)
Designated as hedging instrument | Commodity contracts
Derivative Instruments Gain Loss [Line Items]
Net gains recognized in other comprehensive loss (effective portion)	0	0	0	0
Derivatives not designated as hedging instruments:
Total amount recognized in statements of income	0	0	0	0
Designated as hedging instrument | Foreign exchange contracts
Derivative Instruments Gain Loss [Line Items]
Net gains recognized in other comprehensive loss (effective portion)	(40)	37	(83)	9
Derivatives not designated as hedging instruments:
Total amount recognized in statements of income	(27)	(5)	(43)	22
Designated as hedging instrument | Cross-currency contracts
Derivative Instruments Gain Loss [Line Items]
Net gains recognized in other comprehensive loss (effective portion)	(66)	90	(96)	25
Derivatives not designated as hedging instruments:
Total amount recognized in statements of income	0	0	0	0
Designated as hedging instrument | Interest rate contracts
Derivative Instruments Gain Loss [Line Items]
Net gains recognized in other comprehensive loss (effective portion)	0	(8)	0	(8)
Derivatives not designated as hedging instruments:
Total amount recognized in statements of income	(1)	(1)	(2)	(2)
Not designated as hedging instrument | Commodity contracts
Derivatives not designated as hedging instruments:
Total amount recognized in statements of income	0	29	(37)	11
Not designated as hedging instrument | Foreign exchange contracts
Derivatives not designated as hedging instruments:
Total amount recognized in statements of income	26	18	28	(57)
Not designated as hedging instrument | Cross-currency contracts
Derivatives not designated as hedging instruments:
Total amount recognized in statements of income	(1)	(1)	(2)	(8)
Not designated as hedging instrument | Interest rate contracts
Derivatives not designated as hedging instruments:
Total amount recognized in statements of income	0	0	0	0
Not designated as hedging instrument | Cost of products sold | Commodity contracts
Derivatives not designated as hedging instruments:
Total amount recognized in statements of income	0	29	(37)	11
Not designated as hedging instrument | Cost of products sold | Foreign exchange contracts
Derivatives not designated as hedging instruments:
Total amount recognized in statements of income	0	0	0	0
Not designated as hedging instrument | Cost of products sold | Cross-currency contracts
Derivatives not designated as hedging instruments:
Total amount recognized in statements of income	0	0	0	0
Not designated as hedging instrument | Cost of products sold | Interest rate contracts
Derivatives not designated as hedging instruments:
Total amount recognized in statements of income	0	0	0	0
Not designated as hedging instrument | Other income/(expense), net | Commodity contracts
Derivatives not designated as hedging instruments:
Total amount recognized in statements of income	0	0	0	0
Not designated as hedging instrument | Other income/(expense), net | Foreign exchange contracts
Derivatives not designated as hedging instruments:
Total amount recognized in statements of income	26	18	28	(57)
Not designated as hedging instrument | Other income/(expense), net | Cross-currency contracts
Derivatives not designated as hedging instruments:
Total amount recognized in statements of income	(1)	(1)	(2)	(8)
Not designated as hedging instrument | Other income/(expense), net | Interest rate contracts
Derivatives not designated as hedging instruments:
Total amount recognized in statements of income	0	0	0	0
Cash Flow Hedging | Designated as hedging instrument | Commodity contracts
Derivative Instruments Gain Loss [Line Items]
Net gains recognized in other comprehensive loss (effective portion)	0	0	0	0
Cash Flow Hedging | Designated as hedging instrument | Foreign exchange contracts
Derivative Instruments Gain Loss [Line Items]
Net gains recognized in other comprehensive loss (effective portion)	(32)	(9)	(71)	(37)
Cash Flow Hedging | Designated as hedging instrument | Cross-currency contracts
Derivative Instruments Gain Loss [Line Items]
Net gains recognized in other comprehensive loss (effective portion)	0	0	0	0
Cash Flow Hedging | Designated as hedging instrument | Interest rate contracts
Derivative Instruments Gain Loss [Line Items]
Net gains recognized in other comprehensive loss (effective portion)	0	(8)	0	(8)
Cash Flow Hedging | Designated as hedging instrument | Net sales | Commodity contracts
Derivatives not designated as hedging instruments:
Total amount recognized in statements of income	0	0	0	0
Cash Flow Hedging | Designated as hedging instrument | Net sales | Foreign exchange contracts
Derivatives not designated as hedging instruments:
Total amount recognized in statements of income	0	2	0	3
Cash Flow Hedging | Designated as hedging instrument | Net sales | Cross-currency contracts
Derivatives not designated as hedging instruments:
Total amount recognized in statements of income	0	0	0	0
Cash Flow Hedging | Designated as hedging instrument | Net sales | Interest rate contracts
Derivatives not designated as hedging instruments:
Total amount recognized in statements of income	0	0	0	0
Cash Flow Hedging | Designated as hedging instrument | Cost of products sold | Commodity contracts
Derivative Instruments Gain Loss [Line Items]
Net gain/(loss) recognized in income (effective portion)	0	0	0	0
Cash Flow Hedging | Designated as hedging instrument | Cost of products sold | Foreign exchange contracts
Derivative Instruments Gain Loss [Line Items]
Net gain/(loss) recognized in income (effective portion)	4	4	3	33
Cash Flow Hedging | Designated as hedging instrument | Cost of products sold | Cross-currency contracts
Derivative Instruments Gain Loss [Line Items]
Net gain/(loss) recognized in income (effective portion)	0	0	0	0
Cash Flow Hedging | Designated as hedging instrument | Cost of products sold | Interest rate contracts
Derivative Instruments Gain Loss [Line Items]
Net gain/(loss) recognized in income (effective portion)	0	0	0	0
Cash Flow Hedging | Designated as hedging instrument | Other income/(expense), net | Commodity contracts
Derivatives not designated as hedging instruments:
Total amount recognized in statements of income	0	0	0	0
Cash Flow Hedging | Designated as hedging instrument | Other income/(expense), net | Foreign exchange contracts
Derivatives not designated as hedging instruments:
Total amount recognized in statements of income	(31)	(11)	(46)	(14)
Cash Flow Hedging | Designated as hedging instrument | Other income/(expense), net | Cross-currency contracts
Derivatives not designated as hedging instruments:
Total amount recognized in statements of income	0	0	0	0
Cash Flow Hedging | Designated as hedging instrument | Other income/(expense), net | Interest rate contracts
Derivatives not designated as hedging instruments:
Total amount recognized in statements of income	0	0	0	0
Cash Flow Hedging | Designated as hedging instrument | Interest expense | Commodity contracts
Derivatives not designated as hedging instruments:
Total amount recognized in statements of income	0	0	0	0
Cash Flow Hedging | Designated as hedging instrument | Interest expense | Foreign exchange contracts
Derivatives not designated as hedging instruments:
Total amount recognized in statements of income	0	0	0	0
Cash Flow Hedging | Designated as hedging instrument | Interest expense | Cross-currency contracts
Derivatives not designated as hedging instruments:
Total amount recognized in statements of income	0	0	0	0
Cash Flow Hedging | Designated as hedging instrument | Interest expense | Interest rate contracts
Derivatives not designated as hedging instruments:
Total amount recognized in statements of income	(1)	(1)	(2)	(2)
Net Investment Hedging | Designated as hedging instrument | Commodity contracts
Derivative Instruments Gain Loss [Line Items]
Net gains recognized in other comprehensive loss (effective portion)	0	0	0	0
Net Investment Hedging | Designated as hedging instrument | Foreign exchange contracts
Derivative Instruments Gain Loss [Line Items]
Net gains recognized in other comprehensive loss (effective portion)	(8)	46	(12)	46
Net Investment Hedging | Designated as hedging instrument | Cross-currency contracts
Derivative Instruments Gain Loss [Line Items]
Net gains recognized in other comprehensive loss (effective portion)	(66)	90	(96)	25
Net Investment Hedging | Designated as hedging instrument | Interest rate contracts
Derivative Instruments Gain Loss [Line Items]
Net gains recognized in other comprehensive loss (effective portion)	$ 0	$ 0	$ 0	$ 0

Financing Arrangements Addition

Financing Arrangements Additional Information (Details) - USD ($) $ in Millions	Jul. 01, 2017	Dec. 31, 2016
Transfers and Servicing [Abstract]
Receivables derecognized under accounts receivable factoring programs	$ 1,100	$ 1,000
Sold receivables	$ 521	$ 129

Venezuela - Foreign Currency 68

Venezuela - Foreign Currency and Inflation Additional Information (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 01, 2017USD ($)exchange_rateVEF / $	Jul. 03, 2016USD ($)	Jul. 01, 2017USD ($)exchange_rateVEF / $	May 30, 2017VEF / $	Mar. 09, 2016VEF / $
Foreign Currency [Line Items]
Number of exchange rates legally available to us in Venezuela | exchange_rate	2		2
Outstanding requests for currency settlements at the official exchange rate | $	$ 26		$ 26
Foreign currency translation loss/(gain) | $	$ 25		$ 33
Impairment of long-lived assets held-for-use | $		$ 53
Official CENCOEX BsF Rate
Foreign Currency [Line Items]
Foreign currency exchange rate, translation	10		10		6.30
Venezuelan BsF on DICOM Market, first auction spot rate
Foreign Currency [Line Items]
Foreign currency exchange rate, translation				2,010
Venezuelan BsF on DICOM market, quarter-to-date average
Foreign Currency [Line Items]
Foreign currency exchange rate, translation	1,303		1,303
Venezuelan BsF on DICOM market, year-to-date average
Foreign Currency [Line Items]
Foreign currency exchange rate, translation	1,013		1,013
Venezuelan BsF on DICOM market, period end spot
Foreign Currency [Line Items]
Foreign currency exchange rate, translation	2,640		2,640

Commitments, Contingencies an69

Commitments, Contingencies and Debt Borrowing Arrangements (Details) - USD ($) $ in Millions	Jul. 01, 2017	Dec. 31, 2016
Debt Disclosure [Abstract]
Commercial paper	$ 1,100	$ 642

Commitments, Contingencies an70

Commitments, Contingencies and Debt Long-Term Debt (Details) - USD ($) $ in Millions	Jun. 07, 2013	Jul. 01, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Repayments of aggregate principle amount of senior notes		$ 2,000
Debt issuance costs			$ 52
Nine point zero zero percent cumulative compounding preferred stock, Series A | Berkshire Hathaway
Debt Instrument [Line Items]
9.00% cumulative compounding preferred stock, Series A, dividend percentage	9.00%

Commitments, Contingencies an71

Commitments, Contingencies and Debt Fair Value of Debt (Details) - USD ($) $ in Billions	Jul. 01, 2017	Dec. 31, 2016
Debt Disclosure [Abstract]
Fair value of total debt	$ 32.3	$ 33.2
Carrying value of total debt	$ 31.1	$ 32.4

Earnings Per Share Basic and Di

Earnings Per Share Basic and Diluted Earnings Per Common Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jul. 01, 2017	Jul. 03, 2016	Jul. 01, 2017	Jul. 03, 2016
Basic EPS
Net income/(loss) attributable to common shareholders	$ 1,159	$ 770	$ 2,052	$ 1,666
Weighted average shares of common stock outstanding (in shares)	1,218	1,217	1,218	1,216
Basic earnings/(loss) per share (in dollars per share)	$ 0.95	$ 0.63	$ 1.69	$ 1.37
Diluted EPS
Net earnings/(loss) attributable to common shareholders	$ 1,159	$ 770	$ 2,052	$ 1,666
Effect of dilutive stock options on basic earnings/(loss) per common share (in shares)	11	10	11	10
Weighted average shares of common stock, including dilutive effect (in shares)	1,229	1,227	1,229	1,226
Diluted earnings/(loss) per share (in dollars per share)	$ 0.94	$ 0.63	$ 1.67	$ 1.36

Earnings Per Share Additional I

Earnings Per Share Additional Information (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Jul. 01, 2017	Jul. 03, 2016	Jul. 01, 2017	Jul. 03, 2016
Earnings Per Share [Abstract]
Anti-dilutive shares	1	3	1	2

Segment Reporting Additional In

Segment Reporting Additional Information (Details)	6 Months Ended
	Jul. 01, 2017segment
Segment Reporting [Abstract]
Number of segments	4
Number of reportable segments	3
Number of operating segments in Rest of World reportable segment	2

Segment Reporting Net Sales by

Segment Reporting Net Sales by Segment (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 01, 2017	Jul. 03, 2016	Jul. 01, 2017	Jul. 03, 2016
Segment Reporting Information [Line Items]
Net sales	$ 6,677	$ 6,793	$ 13,041	$ 13,363
United States
Segment Reporting Information [Line Items]
Net sales	4,634	4,692	9,186	9,407
Canada
Segment Reporting Information [Line Items]
Net sales	597	638	1,040	1,142
Europe
Segment Reporting Information [Line Items]
Net sales	595	625	1,138	1,208
Rest of World
Segment Reporting Information [Line Items]
Net sales	$ 851	$ 838	$ 1,677	$ 1,606

Segment Reporting Segment Adjus

Segment Reporting Segment Adjusted EBITDA (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 01, 2017	Jul. 03, 2016	Jul. 01, 2017	Jul. 03, 2016
Segment Reporting Information [Line Items]
General corporate expenses	$ (36)	$ (46)	$ (65)	$ (85)
Depreciation and amortization (excluding integration and restructuring expenses)	(137)	(124)	(269)	(285)
Integration and restructuring expenses	6	284	142	544
Merger costs	0	(14)	0	(29)
Unrealized gains/(losses) on commodity hedges	13	37	(29)	45
Impairment losses	(48)	(53)	(48)	(53)
Nonmonetary currency devaluation	0	(2)	0	(3)
Equity award compensation expense (excluding integration and restructuring expenses)	(14)	(11)	(26)	(20)
Operating income	1,921	1,636	3,472	3,149
Interest expense	307	264	620	513
Other expense/(income), net	24	6	12	(2)
Income/(loss) before income taxes	1,590	1,366	2,840	2,638
United States
Segment Reporting Information [Line Items]
Segment Adjusted EBITDA	1,566	1,518	3,038	3,011
Canada
Segment Reporting Information [Line Items]
Segment Adjusted EBITDA	189	192	315	343
Europe
Segment Reporting Information [Line Items]
Segment Adjusted EBITDA	202	221	372	401
Rest of World
Segment Reporting Information [Line Items]
Segment Adjusted EBITDA	$ 180	$ 202	$ 326	$ 368

Segment Reporting Net Sales b77

Segment Reporting Net Sales by Product (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 01, 2017	Jul. 03, 2016	Jul. 01, 2017	Jul. 03, 2016
Revenue from External Customer [Line Items]
Net sales	$ 6,677	$ 6,793	$ 13,041	$ 13,363
Condiments and sauces
Revenue from External Customer [Line Items]
Net sales	1,710	1,760	3,223	3,324
Cheese and dairy
Revenue from External Customer [Line Items]
Net sales	1,319	1,350	2,618	2,716
Ambient meals
Revenue from External Customer [Line Items]
Net sales	541	559	1,124	1,149
Frozen and chilled meals
Revenue from External Customer [Line Items]
Net sales	639	626	1,292	1,253
Meats and seafood
Revenue from External Customer [Line Items]
Net sales	695	727	1,355	1,423
Refreshment beverages
Revenue from External Customer [Line Items]
Net sales	437	442	809	850
Coffee
Revenue from External Customer [Line Items]
Net sales	340	356	690	739
Infant and nutrition
Revenue from External Customer [Line Items]
Net sales	211	216	399	406
Desserts, toppings and baking
Revenue from External Customer [Line Items]
Net sales	233	235	429	445
Nuts and salted snacks
Revenue from External Customer [Line Items]
Net sales	252	255	484	515
Other
Revenue from External Customer [Line Items]
Net sales	$ 300	$ 267	$ 618	$ 543

Supplemental Financial Inform78

Supplemental Financial Information Condensed Consolidating Statements of Operations (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 01, 2017	Jul. 03, 2016	Jul. 01, 2017	Jul. 03, 2016
Condensed Income Statements, Captions [Line Items]
Net sales	$ 6,677	$ 6,793	$ 13,041	$ 13,363
Cost of products sold	3,996	4,262	8,059	8,454
Gross profit	2,681	2,531	4,982	4,909
Selling, general and administrative expenses	760	895	1,510	1,760
Intercompany service fees and other recharges	0	0	0	0
Operating income	1,921	1,636	3,472	3,149
Interest expense	307	264	620	513
Other expense/(income), net	24	6	12	(2)
Income/(loss) before income taxes	1,590	1,366	2,840	2,638
Provision for/(benefit from) income taxes	430	411	789	783
Equity in earnings of subsidiaries	0	0	0	0
Net income/(loss)	1,160	955	2,051	1,855
Net income/(loss) attributable to noncontrolling interest	1	5	(1)	9
Net income/(loss) excluding noncontrolling interest	1,159	950	2,052	1,846
Comprehensive income/(loss) excluding noncontrolling interest	1,300	577	2,372	1,584
Eliminations
Condensed Income Statements, Captions [Line Items]
Net sales	(138)	(160)	(300)	(302)
Cost of products sold	(138)	(160)	(300)	(302)
Gross profit	0	0	0	0
Selling, general and administrative expenses	0	0	0	0
Intercompany service fees and other recharges	0	0	0	0
Operating income	0	0	0	0
Interest expense	0	0	0	0
Other expense/(income), net	0	0	0	0
Income/(loss) before income taxes	0	0	0	0
Provision for/(benefit from) income taxes	0	0	0	0
Equity in earnings of subsidiaries	(2,082)	(1,996)	(3,822)	(3,848)
Net income/(loss)	(2,082)	(1,996)	(3,822)	(3,848)
Net income/(loss) attributable to noncontrolling interest	0	0	0	0
Net income/(loss) excluding noncontrolling interest	(2,082)	(1,996)	(3,822)	(3,848)
Comprehensive income/(loss) excluding noncontrolling interest	(2,644)	(1,156)	(5,558)	(3,312)
Parent Guarantor | Reportable Legal Entities
Condensed Income Statements, Captions [Line Items]
Net sales	0	0	0	0
Cost of products sold	0	0	0	0
Gross profit	0	0	0	0
Selling, general and administrative expenses	0	0	0	0
Intercompany service fees and other recharges	0	0	0	0
Operating income	0	0	0	0
Interest expense	0	0	0	0
Other expense/(income), net	0	0	0	0
Income/(loss) before income taxes	0	0	0	0
Provision for/(benefit from) income taxes	0	0	0	0
Equity in earnings of subsidiaries	1,159	950	2,052	1,846
Net income/(loss)	1,159	950	2,052	1,846
Net income/(loss) attributable to noncontrolling interest	0	0	0	0
Net income/(loss) excluding noncontrolling interest	1,159	950	2,052	1,846
Comprehensive income/(loss) excluding noncontrolling interest	1,300	577	2,372	1,584
Subsidiary Issuer | Reportable Legal Entities
Condensed Income Statements, Captions [Line Items]
Net sales	4,411	4,479	8,771	8,950
Cost of products sold	2,510	2,741	5,224	5,573
Gross profit	1,901	1,738	3,547	3,377
Selling, general and administrative expenses	165	307	349	584
Intercompany service fees and other recharges	1,321	1,311	2,429	2,525
Operating income	415	120	769	268
Interest expense	296	253	599	488
Other expense/(income), net	(48)	55	(31)	86
Income/(loss) before income taxes	167	(188)	201	(306)
Provision for/(benefit from) income taxes	(69)	(92)	(81)	(150)
Equity in earnings of subsidiaries	923	1,046	1,770	2,002
Net income/(loss)	1,159	950	2,052	1,846
Net income/(loss) attributable to noncontrolling interest	0	0	0	0
Net income/(loss) excluding noncontrolling interest	1,159	950	2,052	1,846
Comprehensive income/(loss) excluding noncontrolling interest	1,300	577	2,372	1,584
Non-Guarantor Subsidiaries | Reportable Legal Entities
Condensed Income Statements, Captions [Line Items]
Net sales	2,404	2,474	4,570	4,715
Cost of products sold	1,624	1,681	3,135	3,183
Gross profit	780	793	1,435	1,532
Selling, general and administrative expenses	595	588	1,161	1,176
Intercompany service fees and other recharges	(1,321)	(1,311)	(2,429)	(2,525)
Operating income	1,506	1,516	2,703	2,881
Interest expense	11	11	21	25
Other expense/(income), net	72	(49)	43	(88)
Income/(loss) before income taxes	1,423	1,554	2,639	2,944
Provision for/(benefit from) income taxes	499	503	870	933
Equity in earnings of subsidiaries	0	0	0	0
Net income/(loss)	924	1,051	1,769	2,011
Net income/(loss) attributable to noncontrolling interest	1	5	(1)	9
Net income/(loss) excluding noncontrolling interest	923	1,046	1,770	2,002
Comprehensive income/(loss) excluding noncontrolling interest	$ 1,344	$ 579	$ 3,186	$ 1,728

Supplemental Financial Inform79

Supplemental Financial Information Condensed Consolidating Balance Sheets (Details) - USD ($) $ in Millions	Jul. 01, 2017	Dec. 31, 2016
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	$ 1,445	$ 4,204
Trade receivables	913	769
Receivables due from affiliates	0	0
Dividends due from affiliates	0	0
Sold receivables	521	129
Inventories	3,065	2,684
Short-term lending due from affiliates	0	0
Other current assets	1,164	967
Total current assets	7,108	8,753
Property, plant and equipment, net	6,808	6,688
Goodwill	44,565	44,125
Investments in subsidiaries	0	0
Intangible assets, net	59,400	59,297
Long-term lending due from affiliates	0	0
Other assets	1,535	1,617
TOTAL ASSETS	119,416	120,480
Commercial paper and other short-term debt	1,090	645
Current portion of long-term debt	19	2,046
Short-term lending due to affiliates	0	0
Trade payables	3,888	3,996
Payables due to affiliates	0	0
Accrued marketing	494	749
Accrued postemployment costs	157	157
Income taxes payable	153	255
Interest payable	406	415
Dividends due to affiliates	0	0
Other current liabilities	1,149	1,238
Total current liabilities	7,356	9,501
Long-term debt	29,979	29,713
Long-term borrowings due to affiliates	0	0
Deferred income taxes	20,887	20,848
Accrued postemployment costs	1,975	2,038
Other liabilities	673	806
TOTAL LIABILITIES	60,870	62,906
Total shareholders' equity	58,333	57,358
Noncontrolling interest	213	216
TOTAL EQUITY	58,546	57,574
TOTAL LIABILITIES AND EQUITY	119,416	120,480
Eliminations
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	0	0
Trade receivables	0	0
Receivables due from affiliates	(985)	(823)
Dividends due from affiliates	(65)	(39)
Sold receivables	0	0
Inventories	0	0
Short-term lending due from affiliates	(5,317)	(4,678)
Other current assets	(2,222)	(1,709)
Total current assets	(8,589)	(7,249)
Property, plant and equipment, net	0	0
Goodwill	0	0
Investments in subsidiaries	(129,561)	(128,235)
Intangible assets, net	0	0
Long-term lending due from affiliates	(3,700)	(3,700)
Other assets	0	0
TOTAL ASSETS	(141,850)	(139,184)
Commercial paper and other short-term debt	0	0
Current portion of long-term debt	0	0
Short-term lending due to affiliates	(5,317)	(4,678)
Trade payables	0	0
Payables due to affiliates	(985)	(823)
Accrued marketing	0	0
Accrued postemployment costs	0	0
Income taxes payable	(2,222)	(1,709)
Interest payable	0	0
Dividends due to affiliates	(65)	(39)
Other current liabilities	0	0
Total current liabilities	(8,589)	(7,249)
Long-term debt	0	0
Long-term borrowings due to affiliates	(3,917)	(3,902)
Deferred income taxes	0	0
Accrued postemployment costs	0	0
Other liabilities	0	0
TOTAL LIABILITIES	(12,506)	(11,151)
Total shareholders' equity	(129,344)	(128,033)
Noncontrolling interest	0	0
TOTAL EQUITY	(129,344)	(128,033)
TOTAL LIABILITIES AND EQUITY	(141,850)	(139,184)
Parent Guarantor | Reportable Legal Entities
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	0	0
Trade receivables	0	0
Receivables due from affiliates	0	0
Dividends due from affiliates	65	39
Sold receivables	0	0
Inventories	0	0
Short-term lending due from affiliates	0	0
Other current assets	0	0
Total current assets	65	39
Property, plant and equipment, net	0	0
Goodwill	0	0
Investments in subsidiaries	58,333	57,358
Intangible assets, net	0	0
Long-term lending due from affiliates	0	0
Other assets	0	0
TOTAL ASSETS	58,398	57,397
Commercial paper and other short-term debt	0	0
Current portion of long-term debt	0	0
Short-term lending due to affiliates	0	0
Trade payables	0	0
Payables due to affiliates	0	0
Accrued marketing	0	0
Accrued postemployment costs	0	0
Income taxes payable	0	0
Interest payable	0	0
Dividends due to affiliates	0	0
Other current liabilities	65	39
Total current liabilities	65	39
Long-term debt	0	0
Long-term borrowings due to affiliates	0	0
Deferred income taxes	0	0
Accrued postemployment costs	0	0
Other liabilities	0	0
TOTAL LIABILITIES	65	39
Total shareholders' equity	58,333	57,358
Noncontrolling interest	0	0
TOTAL EQUITY	58,333	57,358
TOTAL LIABILITIES AND EQUITY	58,398	57,397
Subsidiary Issuer | Reportable Legal Entities
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	556	2,830
Trade receivables	20	12
Receivables due from affiliates	775	712
Dividends due from affiliates	0	0
Sold receivables	0	0
Inventories	2,001	1,759
Short-term lending due from affiliates	1,874	1,722
Other current assets	3,161	2,229
Total current assets	8,387	9,264
Property, plant and equipment, net	4,473	4,447
Goodwill	11,067	11,067
Investments in subsidiaries	71,228	70,877
Intangible assets, net	3,294	3,364
Long-term lending due from affiliates	1,700	1,700
Other assets	527	501
TOTAL ASSETS	100,676	101,220
Commercial paper and other short-term debt	1,086	642
Current portion of long-term debt	9	2,032
Short-term lending due to affiliates	3,443	2,956
Trade payables	2,193	2,376
Payables due to affiliates	210	111
Accrued marketing	128	277
Accrued postemployment costs	84	144
Income taxes payable	0	0
Interest payable	397	401
Dividends due to affiliates	65	39
Other current liabilities	477	588
Total current liabilities	8,092	9,566
Long-term debt	28,960	28,736
Long-term borrowings due to affiliates	2,000	2,000
Deferred income taxes	1,327	1,382
Accrued postemployment costs	1,687	1,754
Other liabilities	277	424
TOTAL LIABILITIES	42,343	43,862
Total shareholders' equity	58,333	57,358
Noncontrolling interest	0	0
TOTAL EQUITY	58,333	57,358
TOTAL LIABILITIES AND EQUITY	100,676	101,220
Non-Guarantor Subsidiaries | Reportable Legal Entities
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	889	1,374
Trade receivables	893	757
Receivables due from affiliates	210	111
Dividends due from affiliates	0	0
Sold receivables	521	129
Inventories	1,064	925
Short-term lending due from affiliates	3,443	2,956
Other current assets	225	447
Total current assets	7,245	6,699
Property, plant and equipment, net	2,335	2,241
Goodwill	33,498	33,058
Investments in subsidiaries	0	0
Intangible assets, net	56,106	55,933
Long-term lending due from affiliates	2,000	2,000
Other assets	1,008	1,116
TOTAL ASSETS	102,192	101,047
Commercial paper and other short-term debt	4	3
Current portion of long-term debt	10	14
Short-term lending due to affiliates	1,874	1,722
Trade payables	1,695	1,620
Payables due to affiliates	775	712
Accrued marketing	366	472
Accrued postemployment costs	73	13
Income taxes payable	2,375	1,964
Interest payable	9	14
Dividends due to affiliates	0	0
Other current liabilities	607	611
Total current liabilities	7,788	7,145
Long-term debt	1,019	977
Long-term borrowings due to affiliates	1,917	1,902
Deferred income taxes	19,560	19,466
Accrued postemployment costs	288	284
Other liabilities	396	382
TOTAL LIABILITIES	30,968	30,156
Total shareholders' equity	71,011	70,675
Noncontrolling interest	213	216
TOTAL EQUITY	71,224	70,891
TOTAL LIABILITIES AND EQUITY	$ 102,192	$ 101,047

Supplemental Financial Inform80

Supplemental Financial Information Condensed Consolidating Statements of Cash Flows (As Restated) (Details) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Jul. 01, 2017	Jul. 03, 2016	Dec. 31, 2016
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by/(used for) operating activities	$ (178)	$ 899
Cash receipts on sold receivables	1,069	1,205	$ 2,600
Capital expenditures	(690)	(514)
Net proceeds from/(payments on) intercompany lending activities	0	0
Additional investments in subsidiaries	0	0
Return of capital		0
Other investing activities, net	44	62
Net cash provided by/(used for) investing activities	423	753
Repayments of long-term debt	(2,032)	(12)
Proceeds from issuance of long-term debt	0	6,982
Proceeds from issuance of commercial paper	4,213	1,939
Repayments of commercial paper	(3,777)	(1,307)
Net proceeds from/(payments on) intercompany borrowing activities	0	0
Dividends paid-Series A Preferred Stock	0	(180)
Dividends paid-common stock	(1,434)	(1,334)
Redemption of Series A Preferred Stock	0	(8,320)
Other intercompany capital stock transactions	0	0
Other financing activities, net	19	43
Net cash provided by/(used for) financing activities	(3,011)	(2,189)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	29	1
Net increase/(decrease)	(2,737)	(536)
Balance at beginning of period	4,255	4,912	4,912
Balance at end of period	1,518	4,376	4,255
Eliminations
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by/(used for) operating activities	(1,434)	(847)
Cash receipts on sold receivables	0	0
Capital expenditures	0	0
Net proceeds from/(payments on) intercompany lending activities	96	(702)
Additional investments in subsidiaries	12	10
Return of capital		(8,987)
Other investing activities, net	0	0
Net cash provided by/(used for) investing activities	108	(9,679)
Repayments of long-term debt	0	0
Proceeds from issuance of long-term debt		0
Proceeds from issuance of commercial paper	0	0
Repayments of commercial paper	0	0
Net proceeds from/(payments on) intercompany borrowing activities	(96)	702
Dividends paid-Series A Preferred Stock		0
Dividends paid-common stock	1,434	1,514
Redemption of Series A Preferred Stock		0
Other intercompany capital stock transactions	(12)	8,310
Other financing activities, net	0	0
Net cash provided by/(used for) financing activities	1,326	10,526
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	0	0
Net increase/(decrease)	0	0
Balance at beginning of period	0	0	0
Balance at end of period	0	0	0
Parent Guarantor | Reportable Legal Entities
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by/(used for) operating activities	1,434	847
Cash receipts on sold receivables	0	0
Capital expenditures	0	0
Net proceeds from/(payments on) intercompany lending activities	0	0
Additional investments in subsidiaries	(12)	0
Return of capital		8,987
Other investing activities, net	0	0
Net cash provided by/(used for) investing activities	(12)	8,987
Repayments of long-term debt	0	0
Proceeds from issuance of long-term debt		0
Proceeds from issuance of commercial paper	0	0
Repayments of commercial paper	0	0
Net proceeds from/(payments on) intercompany borrowing activities	0	0
Dividends paid-Series A Preferred Stock		(180)
Dividends paid-common stock	(1,434)	(1,334)
Redemption of Series A Preferred Stock		(8,320)
Other intercompany capital stock transactions	0	0
Other financing activities, net	12	0
Net cash provided by/(used for) financing activities	(1,422)	(9,834)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	0	0
Net increase/(decrease)	0	0
Balance at beginning of period	0	0	0
Balance at end of period	0	0	0
Subsidiary Issuer | Reportable Legal Entities
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by/(used for) operating activities	812	1,520
Cash receipts on sold receivables	0	0
Capital expenditures	(470)	(346)
Net proceeds from/(payments on) intercompany lending activities	141	595
Additional investments in subsidiaries	0	(10)
Return of capital		0
Other investing activities, net	41	86
Net cash provided by/(used for) investing activities	(288)	325
Repayments of long-term debt	(2,023)	(8)
Proceeds from issuance of long-term debt		6,980
Proceeds from issuance of commercial paper	4,213	1,939
Repayments of commercial paper	(3,777)	(1,307)
Net proceeds from/(payments on) intercompany borrowing activities	237	(107)
Dividends paid-Series A Preferred Stock		0
Dividends paid-common stock	(1,434)	(1,514)
Redemption of Series A Preferred Stock		0
Other intercompany capital stock transactions	12	(8,320)
Other financing activities, net	0	45
Net cash provided by/(used for) financing activities	(2,772)	(2,292)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	0	0
Net increase/(decrease)	(2,248)	(447)
Balance at beginning of period	2,869	3,253	3,253
Balance at end of period	621	2,806	2,869
Non-Guarantor Subsidiaries | Reportable Legal Entities
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by/(used for) operating activities	(990)	(621)
Cash receipts on sold receivables	1,069	1,205
Capital expenditures	(220)	(168)
Net proceeds from/(payments on) intercompany lending activities	(237)	107
Additional investments in subsidiaries	0	0
Return of capital		0
Other investing activities, net	3	(24)
Net cash provided by/(used for) investing activities	615	1,120
Repayments of long-term debt	(9)	(4)
Proceeds from issuance of long-term debt		2
Proceeds from issuance of commercial paper	0	0
Repayments of commercial paper	0	0
Net proceeds from/(payments on) intercompany borrowing activities	(141)	(595)
Dividends paid-Series A Preferred Stock		0
Dividends paid-common stock	0	0
Redemption of Series A Preferred Stock		0
Other intercompany capital stock transactions	0	10
Other financing activities, net	7	(2)
Net cash provided by/(used for) financing activities	(143)	(589)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	29	1
Net increase/(decrease)	(489)	(89)
Balance at beginning of period	1,386	1,659	1,659
Balance at end of period	$ 897	$ 1,570	$ 1,386

Supplemental Financial Inform81

Supplemental Financial Information Reconciliation From Cash and Cash Equivalents to Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in Millions	Jul. 01, 2017	Dec. 31, 2016	Jul. 03, 2016	Jan. 03, 2016
Schedule of Cash, Cash Equivalents, and Restricted Cash [Line Items]
Cash and cash equivalents	$ 1,445	$ 4,204
Restricted cash included in other assets (current)	73	42
Restricted cash included in other assets (noncurrent)	0	9
Cash, cash equivalents, and restricted cash	1,518	4,255	$ 4,376	$ 4,912
Eliminations
Schedule of Cash, Cash Equivalents, and Restricted Cash [Line Items]
Cash and cash equivalents	0	0
Restricted cash included in other assets (current)	0	0
Restricted cash included in other assets (noncurrent)	0	0
Cash, cash equivalents, and restricted cash	0	0	0	0
Parent Guarantor | Reportable Legal Entities
Schedule of Cash, Cash Equivalents, and Restricted Cash [Line Items]
Cash and cash equivalents	0	0
Restricted cash included in other assets (current)	0	0
Restricted cash included in other assets (noncurrent)	0	0
Cash, cash equivalents, and restricted cash	0	0	0	0
Subsidiary Issuer | Reportable Legal Entities
Schedule of Cash, Cash Equivalents, and Restricted Cash [Line Items]
Cash and cash equivalents	556	2,830
Restricted cash included in other assets (current)	65	39
Restricted cash included in other assets (noncurrent)	0	0
Cash, cash equivalents, and restricted cash	621	2,869	2,806	3,253
Non-Guarantor Subsidiaries | Reportable Legal Entities
Schedule of Cash, Cash Equivalents, and Restricted Cash [Line Items]
Cash and cash equivalents	889	1,374
Restricted cash included in other assets (current)	8	3
Restricted cash included in other assets (noncurrent)	0	9
Cash, cash equivalents, and restricted cash	$ 897	$ 1,386	$ 1,570	$ 1,659