The Kraft Heinz Company (KHC) 10-Q 28 Apr 22 2022 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 26, 2022	Apr. 23, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 26, 2022
Document Transition Report	false
Entity File Number	001-37482
Entity Registrant Name	Kraft Heinz Co
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	46-2078182
Entity Address, Address Line One	One PPG Place,
Entity Address, City or Town	Pittsburgh,
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	15222
City Area Code	412
Local Phone Number	456-5700
Title of 12(b) Security	Common stock, $0.01 par value
Trading Symbol	KHC
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		1,223,951,939
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Entity Central Index Key	0001637459
Current Fiscal Year End Date	--12-31

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($) $ in Millions	3 Months Ended
	Mar. 26, 2022	Mar. 27, 2021
Income Statement [Abstract]
Net sales	$ 6,045	$ 6,394
Cost of products sold	4,114	4,193
Gross profit	1,931	2,201
Selling, general and administrative expenses, excluding impairment losses	827	882
Goodwill impairment losses	(11)	230
Selling, general and administrative expenses	816	1,112
Operating income/(loss)	1,115	1,089
Interest expense	242	415
Other expense/(income)	(98)	(30)
Income/(loss) before income taxes	971	704
Provision for/(benefit from) income taxes	190	136
Net income/(loss)	781	568
Net income/(loss) attributable to noncontrolling interest	5	5
Net income/(loss) attributable to common shareholders	$ 776	$ 563
Per share data applicable to common shareholders:
Basic earnings/(loss) per share (in dollars per share)	$ 0.63	$ 0.46
Diluted earnings/(loss) per share (in dollars per share)	$ 0.63	$ 0.46

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Mar. 26, 2022	Mar. 27, 2021
Statement of Comprehensive Income [Abstract]
Net income/(loss)	$ 781	$ 568
Other comprehensive income/(loss), net of tax:
Foreign currency translation adjustments	(33)	59
Net deferred gains/(losses) on net investment hedges	52	5
Amounts excluded from the effectiveness assessment of net investment hedges	9	5
Net deferred losses/(gains) on net investment hedges reclassified to net income/(loss)	(8)	(3)
Net deferred gains/(losses) on cash flow hedges	(34)	(29)
Amounts excluded from the effectiveness assessment of cash flow hedges	7	7
Net deferred losses/(gains) on cash flow hedges reclassified to net income/(loss)	22	27
Net actuarial gains/(losses) arising during the period	0	2
Net postemployment benefit losses/(gains) reclassified to net income/(loss)	(4)	(6)
Total other comprehensive income/(loss)	11	67
Total comprehensive income/(loss)	792	635
Comprehensive income/(loss) attributable to noncontrolling interest	4	3
Comprehensive income/(loss) attributable to common shareholders	$ 788	$ 632

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 26, 2022	Dec. 25, 2021
ASSETS
Cash and cash equivalents	$ 2,978	$ 3,445
Trade receivables (net of allowances of $50 at March 26, 2022 and $48 at December 25, 2021)	2,067	1,957
Inventories	3,093	2,729
Prepaid expenses	179	136
Other current assets	869	716
Assets held for sale	89	11
Total current assets	9,275	8,994
Property, plant and equipment, net	6,602	6,806
Goodwill	31,440	31,296
Intangible assets, net	43,640	43,542
Other non-current assets	2,907	2,756
TOTAL ASSETS	93,864	93,394
LIABILITIES AND EQUITY
Commercial paper and other short-term debt	50	14
Current portion of long-term debt	730	740
Trade payables	4,610	4,753
Accrued marketing	874	804
Interest payable	315	268
Other current liabilities	2,485	2,485
Total current liabilities	9,064	9,064
Long-term debt	20,970	21,061
Deferred income taxes	10,609	10,536
Accrued postemployment costs	209	205
Long-term deferred income	1,525	1,534
Other non-current liabilities	1,643	1,542
TOTAL LIABILITIES	44,020	43,942
Commitments and Contingencies (Note 15)
Redeemable noncontrolling interest	47	4
Equity:
Common stock, $0.01 par value (5,000 shares authorized; 1,237 shares issued and 1,225 shares outstanding at March 26, 2022; 1,235 shares issued and 1,224 shares outstanding at December 25, 2021)	12	12
Additional paid-in capital	52,954	53,379
Retained earnings/(deficit)	(905)	(1,682)
Accumulated other comprehensive income/(losses)	(1,812)	(1,824)
Treasury stock, at cost (12 shares at March 26, 2022 and 11 shares at December 25, 2021)	(605)	(587)
Total shareholders' equity	49,644	49,298
Noncontrolling interest	153	150
TOTAL EQUITY	49,797	49,448
TOTAL LIABILITIES AND EQUITY	$ 93,864	$ 93,394

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Mar. 26, 2022	Dec. 25, 2021
Statement of Financial Position [Abstract]
Accounts Receivable, Allowance for Credit Loss	$ 50	$ 48
Common Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Common Stock, Shares Authorized	5,000,000,000	5,000,000,000
Common Stock, Shares, Issued	1,237,000,000	1,235,000,000
Common Stock, Shares, Outstanding	1,225,000,000	1,224,000,000
Treasury Stock, Common, Shares	12,000,000	11,000,000

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Equity - USD ($) $ in Millions	Total	Common Stock	Additional Paid-in Capital	Retained Earnings/(Deficit)	Accumulated Other Comprehensive Income/(Losses)	Treasury Stock, at Cost	Noncontrolling Interest
Beginning balance at Dec. 26, 2020	$ 50,243	$ 12	$ 55,096	$ (2,694)	$ (1,967)	$ (344)	$ 140
Total Shareholders' Equity [Roll forward]
Net income/(loss) excluding redeemable noncontrolling interest	568			563			5
Other comprehensive income/(loss)	67				69		(2)
Dividends declared-common stock	(495)		(495)
Exercise of stock options, issuance of other stock awards, and other	48		77	0		(29)
Ending balance at Mar. 27, 2021	50,431	12	54,678	(2,131)	(1,898)	(373)	143
Beginning balance at Dec. 25, 2021	49,448	12	53,379	(1,682)	(1,824)	(587)	150
Total Shareholders' Equity [Roll forward]
Net income/(loss) excluding redeemable noncontrolling interest	780			776			4
Other comprehensive income/(loss)	11				12		(1)
Dividends declared-common stock	(492)		(492)
Exercise of stock options, issuance of other stock awards, and other	50		67	1		(18)
Ending balance at Mar. 26, 2022	$ 49,797	$ 12	$ 52,954	$ (905)	$ (1,812)	$ (605)	$ 153

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Equity (Parenthetical) - $ / shares	3 Months Ended
	Mar. 26, 2022	Mar. 27, 2021
Statement of Stockholders' Equity [Abstract]
Common stock dividends declared (in dollars per share)	$ 0.40	$ 0.40

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 26, 2022	Mar. 27, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income/(loss)	$ 781	$ 568
Adjustments to reconcile net income/(loss) to operating cash flows:
Depreciation and amortization	220	222
Amortization of postemployment benefit plans prior service costs/(credits)	(4)	(2)
Divestiture-related license income	(14)	0
Equity award compensation expense	34	51
Deferred income tax provision/(benefit)	23	127
Postemployment benefit plan contributions	(7)	(9)
Goodwill and intangible asset impairment losses	(11)	230
Nonmonetary currency devaluation	4	4
Loss/(gain) on sale of business	1	19
Other items, net	(69)	30
Changes in current assets and liabilities:
Trade receivables	(123)	(34)
Inventories	(382)	(101)
Accounts payable	6	(11)
Other current assets	(91)	(54)
Other current liabilities	118	(230)
Net cash provided by/(used for) operating activities	486	810
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(214)	(227)
Payments to acquire business, net of cash acquired	(241)	0
Proceeds from sale of business, net of cash disposed and working capital adjustments	(20)	0
Other investing activities, net	6	11
Net cash provided by/(used for) investing activities	(469)	(216)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments of long-term debt	(9)	(1,014)
Debt prepayment and extinguishment costs	0	(103)
Dividends paid	(490)	(489)
Other financing activities, net	14	(37)
Net cash provided by/(used for) financing activities	(485)	(1,643)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	2	(8)
Cash, cash equivalents, and restricted cash
Net increase/(decrease)	(466)	(1,057)
Balance at beginning of period	3,446	3,418
Balance at end of period	$ 2,980	$ 2,361

Basis of Presentation (Notes)

Basis of Presentation (Notes)	3 Months Ended
	Mar. 26, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation 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. We operate on a 52- or 53-week fiscal year ending on the last Saturday in December in each calendar year. Unless the context requires otherwise, references to years and quarters contained herein pertain to our fiscal years and fiscal quarters. Our 2022 fiscal year is scheduled to be a 53-week period ending on December 31, 2022, and our 2021 fiscal year was a 52-week period that ended on December 25, 2021. The condensed consolidated balance sheet data at December 25, 2021 was derived from audited financial statements, but does not include all disclosures required by U.S. GAAP. These statements should be read in conjunction with our audited consolidated financial statements and related notes in our Annual Report on Form 10-K for the year ended December 25, 2021. The results for interim periods are not necessarily indicative of future or annual results. Principles of Consolidation The condensed consolidated financial statements include The Kraft Heinz Company and all of our controlled subsidiaries. All intercompany transactions are eliminated. Reportable Segments We manage and report our operating results through three reportable segments defined by geographic region: United States, International, and Canada. During the fourth quarter of 2021, certain organizational changes were announced that will impact our future internal reporting and reportable segments. As a result of these changes, we plan to combine our United States and Canada zones to form the North America zone and expect to have two reportable segments, North America and International. We expect that any change to our reportable segments will be effective in the second quarter of 2022. Considerations Related to COVID-19 The ongoing spread of COVID-19 throughout the United States and internationally, as well as measures implemented by governmental authorities and private businesses in an attempt to minimize transmission of the virus (including social distancing mandates, shelter-in-place orders, vaccine mandates, and business restrictions and shutdowns) and consumer responses to such measures and the pandemic have had and continue to have negative and positive implications for portions of our business. Though many areas have relaxed restrictions, varying levels remain throughout the world, are continuously evolving, and may be increased, including as a result of further outbreaks, resurgences, or the emergence of new variants. In the preparation of these financial statements and related disclosures we have assessed the impact that COVID-19 has had on our estimates, assumptions, forecasts, and accounting policies and made additional disclosures, as necessary. As COVID-19 and its impacts are unprecedented and ever evolving, future events and effects related to the pandemic cannot be determined with precision and actual results could significantly differ from estimates or forecasts. See Note 8, Goodwill and Intangible Assets , for further discussion of COVID-19 considerations. Use of Estimates We prepare our condensed consolidated financial statements in accordance with U.S. GAAP, which requires us to make accounting policy elections, estimates, and assumptions that affect the reported amount of assets, liabilities, reserves, and expenses. These accounting policy elections, estimates, and assumptions are based on our best estimates and judgments. We evaluate our policy elections, estimates, and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment. We believe these estimates to be reasonable given the current facts available. We adjust our policy elections, estimates, and assumptions when facts and circumstances dictate. Market volatility, including foreign currency exchange rates, increases the uncertainty inherent in our estimates and assumptions. As future events and their effects cannot be determined with precision, actual results could differ significantly from estimates. If actual amounts differ from estimates, we include the revisions in our consolidated results of operations in the period the actual amounts become known. Historically, the aggregate differences, if any, between our estimates and actual amounts in any year have not had a material effect on our condensed consolidated financial statements. Reclassifications We made reclassifications and adjustments to certain previously reported financial information to conform to our current period presentation. Held for Sale At March 26, 2022, we classified certain assets as held for sale in our condensed consolidated balance sheet, including certain property, plant and equipment, net in our United States segment related to the sale of a manufacturing facility, inventory in our International segment, and certain manufacturing equipment and land use rights across the globe. At December 25, 2021, we classified certain assets as held for sale in our condensed consolidated balance sheet, including inventory in our International segment and certain manufacturing equipment and land use rights across the globe. See Note 4, Acquisitions and Divestitures , for additional information.

Significant Accounting Policies

Significant Accounting Policies (Notes)	3 Months Ended
	Mar. 26, 2022
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting PoliciesThere were no significant changes to our accounting policies from those disclosed in our Annual Report on Form 10-K for the year ended December 25, 2021.

New Accounting Standards (Notes

New Accounting Standards (Notes)	3 Months Ended
	Mar. 26, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
New Accounting Standards	New Accounting Standards Accounting Standards Not Yet Adopted Accounting for Contract Assets and Contract Liabilities from Contracts with Customers: In October 2021, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2021-08 to amend the accounting for contract assets and contract liabilities acquired in a business combination under Accounting Standards Codification (“ASC”) 805, Business Combinations . The guidance requires entities engaged in a business combination to recognize and measure contract assets acquired and contract liabilities assumed in accordance with ASC 606, Revenue from Contracts with Customers , rather than at fair value on the acquisition date. The amendments also apply to other contracts such as contract liabilities arising from nonfinancial assets under ASC 610-20, Other Income – Gains and Losses from the Derecognition of Nonfinancial Assets . The ASU will be effective beginning in the first quarter of 2023. Early adoption is permitted, including in an interim period. We currently expect to adopt ASU 2021-08 in the first quarter of 2023 on a prospective basis. While the impact of these amendments is dependent on the nature of any future transactions, we currently do not expect this ASU to have a significant impact on our financial statements and related disclosures. Reference Rate Reform (Topic 848) - Facilitation of the Effects of Reference Rate Reform on Financial Reporting: In March 2020, the FASB issued ASU 2020-04 to provide temporary optional expedients and exceptions to the U.S. GAAP guidance for accounting for contracts, hedging relationships, and other transactions affected by the transition from discontinued reference rates, such as the London Interbank Offered Rate (LIBOR), to alternative reference rates. The new accounting requirements can be applied from March 12, 2020 through December 31, 2022. While we currently do not expect this new guidance to have a significant impact on our financial statements or related disclosures, we continue to evaluate our contracts and the optional expedients provided by the new standard.

Acquisitions and Divestitures (

Acquisitions and Divestitures (Notes)	3 Months Ended
	Mar. 26, 2022
Business Combination and Asset Acquisition [Abstract]
Acquisitions and Divestitures	Acquisitions and Divestitures Acquisitions Just Spices Acquisition: On January 18, 2022 (the “Just Spices Acquisition Date”), we acquired 85% of the shares of Just Spices GmbH (“Just Spices”), a German-based company focused on direct-to-consumer sales of premium spice blends, from certain third-party shareholders (the “Just Spices Acquisition”). The Just Spices Acquisition was accounted for under the acquisition method of accounting for business combinations. Total cash consideration related to the Just Spices Acquisition was approximately 214 million euros (approximately $243 million at the Just Spices Acquisition Date). A noncontrolling interest was recognized at fair value, which was determined to be the noncontrolling interest’s proportionate share of the acquiree’s identifiable net assets, as of the Just Spices Acquisition Date. Under the terms of certain transaction agreements, Just Spices’ other equity holders each have a put option to require us to purchase the remaining equity interests beginning three years after the Just Spices Acquisition Date. If the put option is not exercised, we have a call option to acquire the remaining equity interests of Just Spices. Considering the contractual terms related to the noncontrolling interest, it is classified as redeemable noncontrolling interest on our condensed consolidated balance sheet. Subsequent to the Just Spices Acquisition, the redeemable noncontrolling interest will be measured at the greater of the amount that would be paid if settlement occurred as of the balance sheet date based on the contractually defined redemption value and its carrying amount adjusted for the net income/(loss) attributable to the noncontrolling interest. We utilized fair values at the Just Spices Acquisition Date to allocate the total consideration exchanged to the net tangible and intangible assets acquired and liabilities assumed. The purchase price allocation for the Just Spices Acquisition is preliminary and subject to adjustment. The fair value estimates of the assets acquired are subject to adjustment during the measurement period (up to one year from the Just Spices Acquisition Date). The primary areas of accounting for the Just Spices Acquisition that are not yet finalized relate to the fair value of certain intangible assets and tangible net assets acquired, residual goodwill, and any related tax impact. The fair values of these net assets acquired are based on management’s estimates and assumptions, as well as other information compiled by management, including valuations that utilize customary valuation procedures and techniques. While we believe that such preliminary estimates provide a reasonable basis for estimating the fair value of assets acquired and liabilities assumed, we will evaluate any additional information prior to finalization of the fair value. During the measurement period, we will adjust preliminary valuations assigned to assets and liabilities if new information is obtained about facts and circumstances that existed as of the Just Spices Acquisition Date, that, if known, would have resulted in revised values for these items as of that date. The impact of all changes, if any, that do not qualify as measurement period adjustments will be included in current period earnings. The preliminary purchase price allocation to assets acquired and liabilities assumed in the Just Spices Acquisition was (in millions): Initial Allocation Cash $ 2 Trade receivables 4 Inventories 7 Other current assets 9 Property, plant and equipment, net 1 Identifiable intangible assets 172 Trade payables (10) Other current liabilities (12) Other non-current liabilities (54) Net assets acquired 119 Redeemable noncontrolling interest (43) Goodwill on acquisition 167 Total consideration $ 243 The Just Spices Acquisition preliminarily resulted in $167 million of non-tax deductible goodwill relating principally to Just Spices’ social media presence. This goodwill was assigned to the Continental Europe reporting unit within our International segment. See Note 8, Goodwill and Intangible Assets , for additional information. The preliminary purchase price allocation to identifiable intangible assets acquired in the Just Spices Acquisition was: Fair Value Weighted Average Life Definite-lived trademarks $ 72 10 Customer-related assets 100 15 Total $ 172 We valued trademarks using the relief from royalty method and customer-related assets using the distributor method. Some of the more significant assumptions inherent in developing the valuations included the estimated annual net cash flows for each definite-lived intangible asset (including net sales, cost of products sold, selling and marketing costs, and working capital/contributory asset charges), the discount rate that appropriately reflects the risk inherent in each future cash flow stream, the assessment of each asset’s life cycle, and competitive trends, as well as other factors. We determined the assumptions used in the financial forecasts using historical data, supplemented by current and anticipated market conditions, estimated product category growth rates, management’s plans, and market comparables. We used carrying values as of the Just Spices Acquisition Date to value certain current and non-current assets and liabilities, as we determined that they represented the fair value of those items at such date. Assan Foods Acquisition: On October 1, 2021 (the “Assan Foods Acquisition Date”), we acquired all of the outstanding equity interests in Assan Gıda Sanayi ve Ticaret A.Ş. (“Assan Foods”), a condiments and sauces manufacturer based in Turkey, from third parties Kibar Holding Anonim Şirketi and a holder of registered shares of Assan Foods (the “Assan Foods Acquisition”). The Assan Foods Acquisition was accounted for under the acquisition method of accounting for business combinations. Total consideration related to the Assan Foods Acquisition was approximately $79 million, including cash consideration of $70 million and contingent consideration of approximately $9 million. We utilized fair values at the Assan Foods Acquisition Date to allocate the total consideration exchanged to the net tangible and intangible assets acquired and liabilities assumed. The purchase price allocation for the Assan Foods Acquisition is preliminary and subject to adjustment. The fair value estimates of the assets acquired are subject to adjustment during the measurement period (up to one year from the Assan Foods Acquisition Date). The primary areas of accounting for the Assan Foods Acquisition that are not yet finalized relate to the fair value of certain tangible net assets acquired and the related impact on residual goodwill. The fair values of these net assets acquired are based on management’s estimates and assumptions, as well as other information compiled by management, including valuations that utilize customary valuation procedures and techniques. While we believe that such preliminary estimates provide a reasonable basis for estimating the fair value of assets acquired and liabilities assumed, we will evaluate any additional information prior to finalization of the fair value. During the measurement period, we will adjust preliminary valuations assigned to assets and liabilities if new information is obtained about facts and circumstances that existed as of the Assan Foods Acquisition Date, that, if known, would have resulted in revised values for these items as of that date. The impact of all changes, if any, that do not qualify as measurement period adjustments will be included in current period earnings. The preliminary purchase price allocation to assets acquired and liabilities assumed in the Assan Foods Acquisition was (in millions): Initial Allocation (a) Adjustments Updated Allocation Cash $ 4 $ — $ 4 Trade receivables 24 — 24 Inventories 26 — 26 Other current assets 2 — 2 Property, plant and equipment, net 12 — 12 Identifiable intangible assets — 16 16 Other non-current assets 4 1 5 Short-term debt (21) — (21) Current portion of long-term debt (5) — (5) Trade payables (25) — (25) Other current liabilities (2) — (2) Long-term debt (4) — (4) Other non-current liabilities — (4) (4) Net assets acquired 15 13 28 Goodwill on acquisition 64 (13) 51 Total consideration $ 79 $ — $ 79 (a) As reported in Note 4, Acquisitions and Divestitures , to our consolidated financial statements in our Annual Report on Form 10-K for the year ended December 25, 2021. The measurement period adjustments to the initial allocation are based on more detailed information obtained about the specific assets acquired. In the fourth quarter of 2021, the Assan Foods Acquisition preliminarily resulted in $64 million of non-tax deductible goodwill relating principally to additional capacity that the Assan Foods manufacturing facilities will provide for our brands in the EMEA East region. This goodwill was assigned to the EMEA East reporting unit within our International segment. Following the measurement period adjustments made in the first quarter of 2022, the preliminarily amount of goodwill has been adjusted to $51 million as of March 26, 2022. See Note 8, Goodwill and Intangible Assets , in this Quarterly Report on Form 10-Q as well as Note 9, Goodwill and Intangible Assets , to our consolidated financial statements in our Annual Report on Form 10-K for the year ended December 25, 2021 for additional information. The preliminary purchase price allocation to identifiable intangible assets acquired in the Assan Foods Acquisition was: Fair Value Weighted Average Life Definite-lived trademarks $ 13 10 Customer-related assets 3 10 Total 16 We valued trademarks using the relief from royalty method and customer-related assets using the distributor method. Some of the more significant assumptions inherent in developing the valuations included the estimated annual net cash flows for each definite-lived intangible asset (including net sales, cost of products sold, selling and marketing costs, and working capital/contributory asset charges), the discount rate that appropriately reflects the risk inherent in each future cash flow stream, the assessment of each asset’s life cycle, and competitive trends, as well as other factors. We determined the assumptions used in the financial forecasts using historical data, supplemented by current and anticipated market conditions, estimated product category growth rates, management’s plans, and market comparables. We used carrying values as of the Assan Foods Acquisition Date to value certain current and non-current assets and liabilities, as we determined that they represented the fair value of those items at such date. Hemmer Acquisition: In September 2021, we entered into a definitive agreement with certain third-party shareholders of Companhia Hemmer Indústria e Comércio (“Hemmer”) to acquire a majority of the outstanding equity interests of Hemmer, a Brazilian food and beverage manufacturing company focused on the condiments and sauces category (the “Hemmer Acquisition”). The Hemmer Acquisition closed on March 31, 2022 (the “Hemmer Acquisition Date”), in the second quarter of 2022, for preliminary cash consideration of approximately 1.2 billion Brazilian reais (approximately $252 million at the Hemmer Acquisition Date). The initial accounting for the transaction is incomplete as of the date of this Quarterly Report on Form 10-Q, as the information necessary to complete such evaluation is in the process of being obtained and more thoroughly evaluated. We have not yet determined the purchase price allocation, including the fair value of the acquired assets and assumed liabilities. We entered into foreign exchange derivative contracts to economically hedge the foreign currency exposure related to the cash consideration for the Hemmer Acquisition. See Note 12, Financial Instruments , for additional information. Deal Costs: Related to our acquisitions, we incurred insignificant deal costs for the three months ended March 26, 2022. We recognized these deal costs in selling, general and administrative expenses (“SG&A”). There were no deal costs related to acquisitions for the three months ended March 27, 2021. Divestitures Cheese Transaction: In September 2020, we entered into a definitive agreement with a third party, an affiliate of Groupe Lactalis (“Lactalis”), to sell certain assets in our global cheese business, as well as to license certain trademarks, for total consideration of approximately $3.3 billion, including approximately $3.2 billion of cash consideration and approximately $141 million related to a perpetual license for the Cracker Barrel brand that Lactalis granted to us for certain products (the “Cheese Transaction”). The Cheese Transaction had two primary components. The first component related to the perpetual licenses for the Kraft and Velveeta brands that we granted to Lactalis for certain cheese products (the “ Kraft and Velveeta Licenses”), along with a three-year transitional license that we granted to Lactalis for the Philadelphia brand (the “ Philadelphia License” and collectively, the “Cheese Divestiture Licenses”). The second component related to the net assets transferred to Lactalis. The Cheese Transaction closed on November 29, 2021 (the “Cheese Transaction Closing Date”). Of the $3.3 billion total consideration, approximately $1.6 billion was attributed to the Cheese Divestiture Licenses based on the estimated fair value of the licensed portion of each brand. As of the Cheese Transaction Closing Date, the license income related to the Kraft and Velveeta Licenses will be recognized over approximately 30 years, and the license income related to the Philadelphia License will be recognized over approximately three years. Related to the Cheese Divestiture Licenses, we recognized approximately $14 million of license income for the three months ended March 26, 2022, which was recorded as a reduction to SG&A and classified as divestiture-related license income. Additionally, at March 26, 2022, we have recorded approximately $1.5 billion in long-term deferred income and $56 million in other current liabilities on the condensed consolidated balance sheet related to the Cheese Divestiture Licenses. In the first quarter of 2022, we reimbursed Lactalis approximately $20 million following a final inventory count performed after the Cheese Transaction closed. This amount reflects the difference between the estimated and actual value of inventory transferred, which was primarily driven by seasonal fluctuations in finished goods. The payment to Lactalis was recognized in our condensed consolidated statement of cash flows for the three months ended March 26, 2022 as a cash outflow from investing activities in proceeds from sale of business, net of cash disposed and working capital adjustments. See Note 4, Acquisitions and Divestitures , to the consolidated financial statements in our Annual Report on Form 10-K for the year ended December 25, 2021 for additional information related to the Cheese Transaction. Nuts Transaction: In February 2021, we entered into a definitive agreement with a third party, Hormel Foods Corporation, to sell certain assets in our global nuts business for total consideration of approximately $3.4 billion (the “Nuts Transaction”). The net assets transferred in the Nuts Transaction included, among other things, our intellectual property rights to the Planters brand and to the Corn Nuts brand, three manufacturing facilities in the U.S., and the associated inventories (collectively, the “Nuts Disposal Group”). As of February 10, 2021, the date the Nuts Disposal Group was determined to be held for sale, we tested the individual assets included within the Nuts Disposal Group for impairment. The net assets of the Nuts Disposal Group had an aggregate carrying amount above their $3.4 billion estimated fair value. We determined that the goodwill within the Nuts Disposal Group was partially impaired. As a result, we recorded a non-cash goodwill impairment loss of $230 million, which was recognized in SG&A, in the first quarter of 2021. Additionally, we recorded an estimated pre-tax loss on sale of business of $19 million in the first quarter of 2021 primarily related to estimated costs to sell, which was recognized in other expense/(income). The Nuts Transaction closed in the second quarter of 2021. See Note 4, Acquisitions and Divestitures , to the consolidated financial statements in our Annual Report on Form 10-K for the year ended December 25, 2021 for additional information related to the Nuts Transaction. Heinz India Transaction: On January 30, 2019 (the “Heinz India Closing Date”), we sold 100% of our equity interests in Heinz India Private Limited (“Heinz India”) to two third-parties, Zydus Wellness Limited and Cadila Healthcare Limited (collectively, the “Buyers”) for approximately 46 billion Indian rupees (approximately $655 million at the Heinz India Closing Date) (the “Heinz India Transaction”). In connection with the Heinz India Transaction, we agreed to indemnify the Buyers from and against any tax losses for any taxable period prior to the Heinz India Closing Date, including taxes for which we are liable as a result of any transaction that occurred on or before such date. To determine the fair value of our tax indemnity we made various assumptions, including the range of potential dates the tax matters will be resolved, the range of potential future cash flows, the probabilities associated with potential resolution dates and potential future cash flows, and the discount rate. We recorded tax indemnity liabilities related to the Heinz India Transaction totaling approximately $48 million at the Heinz India Closing Date. We also recorded a corresponding $48 million reduction of the pre-tax gain on the Heinz India Transaction within other expense/(income) in our condensed consolidated statement of income in the first quarter of 2019. Future changes to the fair value of these tax indemnity liabilities will continue to impact other expense/(income) throughout the life of the exposures as a component of the gain on sale of business for the Heinz India Transaction. As of March 26, 2022, the tax indemnity liabilities were $41 million, including $14 million included within other current liabilities and $27 million in other non-current liabilities on our condensed consolidated balance sheet. There was no impact to the gain/(loss) on sale of business related to the tax indemnity liabilities for the three months ended March 26, 2022 or the three months ended March 27, 2021. We recognized an insignificant pre-tax loss on sale of business related to the Heinz India Transaction for the three months ended March 26, 2022. Deal Costs: Related to our divestitures, we incurred insignificant deal costs for the three months ended March 26, 2022 and the three months ended March 27, 2021. We recognized these deal costs in SG&A. Held for Sale Our assets held for sale, by major class, were (in millions): March 26, 2022 December 25, 2021 ASSETS Inventories $ 3 $ 5 Property, plant and equipment, net 85 5 Intangible assets, net 1 1 Total assets held for sale $ 89 $ 11 The balances held for sale at March 26, 2022 primarily included certain property, plant and equipment, net in our United States segment related to the sale of a manufacturing facility, as well as inventory in our International segment related to the Cheese Transaction and certain manufacturing equipment and land use rights across the globe. At December 25, 2021, balances held for sale included inventory in our International segment related to the Cheese Transaction and certain manufacturing equipment and land use rights across the globe. For the three months ended March 26, 2022, related to the manufacturing facility held for sale in the United States segment, we recorded an impairment loss of approximately $66 million to cost of products sold on our condensed consolidated statement of income. This impairment loss, which was recorded at the time the assets were determined to be held for sale, reflects the difference between the fair value and carrying value of the related asset disposal group, which primarily includes buildings and improvements, machinery and equipment, and land. The fair value of the asset disposal group was determined using the cost and market approaches.

Restructuring Activities (Notes

Restructuring Activities (Notes)	3 Months Ended
	Mar. 26, 2022
Restructuring and Related Activities [Abstract]
Restructuring Activities	Restructuring ActivitiesSee our consolidated financial statements and related notes in our Annual Report on Form 10-K for the year ended December 25, 2021 for additional information on our restructuring activities. Restructuring Activities: We have restructuring programs globally, which are focused primarily on workforce reduction and factory closure and consolidation. For the three months ended March 26, 2022, we eliminated approximately 330 positions related to these programs. As of March 26, 2022, we expect to eliminate approximately 200 additional positions during the remainder of 2022. For the three months ended March 26, 2022, restructuring activities resulted in expenses of $19 million and included $10 million of severance and employee benefit costs, $4 million of asset-related costs, and $5 million of other implementation costs. Restructuring activities resulted in expenses of $18 million for the three months ended March 27, 2021. Our net liability balance for restructuring project costs that qualify as exit and disposal costs under U.S. GAAP was (in millions): Severance and Employee Benefit Costs Other Exit Costs Total Balance at December 25, 2021 $ 27 $ 16 $ 43 Charges/(credits) 10 — 10 Cash payments (14) (1) (15) Balance at March 26, 2022 $ 23 $ 15 $ 38 We expect the majority of the liability for severance and employee benefit costs as of March 26, 2022 to be paid by the end of 2022. The liability for other exit costs primarily relates to lease obligations. The cash impact of these obligations will continue for the duration of the lease terms, which expire between 2022 and 2026. Total Expenses/(Income): Total expense/(income) related to restructuring activities, by income statement caption, were (in millions): For the Three Months Ended March 26, 2022 March 27, 2021 Severance and employee benefit costs - Cost of products sold $ (3) $ 3 Severance and employee benefit costs - SG&A 13 1 Asset-related costs - Cost of products sold 4 — Other costs - Cost of products sold 3 — Other costs - SG&A 2 14 $ 19 $ 18 We do not include our restructuring activities within Segment Adjusted EBITDA (as defined in Note 17, Segment Reporting ). The pre-tax impact of allocating such expenses/(income) to our segments would have been (in millions): For the Three Months Ended March 26, 2022 March 27, 2021 United States $ 18 $ 1 International (2) 4 Canada 2 — General corporate expenses 1 13 $ 19 $ 18

Restricted Cash (Notes)

Restricted Cash (Notes)	3 Months Ended
	Mar. 26, 2022
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): March 26, 2022 December 25, 2021 Cash and cash equivalents $ 2,978 $ 3,445 Restricted cash included in other current assets 1 — Restricted cash included in other non-current assets 1 1 Cash, cash equivalents, and restricted cash $ 2,980 $ 3,446

Inventories (Notes)

Inventories (Notes)	3 Months Ended
	Mar. 26, 2022
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories consisted of the following (in millions): March 26, 2022 December 25, 2021 Packaging and ingredients $ 671 $ 571 Spare parts 211 208 Work in process 270 268 Finished products 1,941 1,682 Inventories $ 3,093 $ 2,729 At March 26, 2022 and December 25, 2021, inventories excluded amounts classified as held for sale. See Note 4, Acquisitions and Divestitures , for additional information.

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Notes)	3 Months Ended
	Mar. 26, 2022
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 International Canada Total Balance at December 25, 2021 $ 26,745 $ 3,054 $ 1,497 $ 31,296 Acquisitions — 167 — 167 Measurement period adjustments — (4) — (4) Translation adjustments and other — (60) 41 (19) Balance at March 26, 2022 $ 26,745 $ 3,157 $ 1,538 $ 31,440 In the first quarter of 2022, we closed the Just Spices Acquisition in our International segment, which resulted in preliminary goodwill of $167 million. Additionally, we recorded measurement period adjustments primarily related to the Assan Foods Acquisition that impacted goodwill. The Assan Foods Acquisition closed in the fourth quarter of 2021 and was in our International segment. These measurement period adjustments resulted in a net decrease to goodwill on acquisitions of approximately $15 million in the first quarter of 2022. However, as each of the affected reporting units (EMEA East and Latin America) have no goodwill balance remaining, we recorded a reduction of the $53 million non-cash impairment loss recorded to SG&A in the fourth quarter of 2021 that fully impaired the goodwill related to each of these acquisitions and their respective reporting units. The impairment reduction of $11 million, which reflects the measurement period adjustment of $15 million adjusted for the impact of foreign currency, was recorded in SG&A in our International segment in the first quarter of 2022. Following these measurement period adjustments, there continues to be no goodwill in the EMEA East or Latin America reporting units. See Note 9, Goodwill and Intangible Assets , to our consolidated financial statements in our Annual Report on Form 10-K for the year ended December 25, 2021 for additional information related to the impairment losses recorded in the fourth quarter of 2021. See Note 4, Acquisitions and Divestitures, for additional information related to these transactions and the related financial statement impacts. As of March 26, 2022, we maintain 14 reporting units, nine of which comprise our goodwill balance. These nine reporting units had an aggregate goodwill carrying amount of $31.4 billion at March 26, 2022. As of their latest 2021 impairment testing date, six reporting units had 20% or less fair value over carrying amount and an aggregate goodwill carrying amount of $28.3 billion, two reporting units had between 20-50% fair value over carrying amount and a goodwill carrying amount of $2.2 billion, and one reporting unit had over 50% fair value over carrying amount and a goodwill carrying amount of $961 million. Accumulated impairment losses to goodwill were $10.9 billion as of March 26, 2022 and $10.9 billion at December 25, 2021. 2022 Year-to-Date Goodwill Impairment Testing We test our reporting units for impairment annually as of the first day of our second quarter, or more frequently if events or circumstances indicate it is more likely than not that the fair value of a reporting unit is less than its carrying amount. No events occurred during the period ended March 26, 2022 that indicated it was more likely than not that our goodwill was impaired. As discussed in Note 1, Basis of Presentation , during the fourth quarter of 2021, certain organizational changes were announced that will impact our future internal reporting and reportable segments. As a result of these changes, we plan to combine our United States and Canada zones to form the North America zone and expect to have two reportable segments, North America and International. We expect that any change to our reportable segments will be effective in the second quarter of 2022. These changes are also expected to affect our reporting unit structure and will require an interim impairment test (or transition test) in the second quarter of 2022. 2021 Year-to-Date Goodwill Impairment Testing In the first quarter of 2021, we announced the Nuts Transaction and determined that the Nuts Disposal Group was held for sale. Accordingly, based on a relative fair value allocation, we reclassified $1.7 billion of goodwill to assets held for sale, which included a portion of goodwill from four of our reporting units. The Nuts Transaction primarily affected our Kids, Snacks, and Beverages (KSB) reporting unit but also affected, to a lesser extent, our Enhancers, Specialty, and Away From Home (ESA), Canada Foodservice, and Puerto Rico reporting units. These reporting units were evaluated for impairment prior to their representative inclusion in the Nuts Disposal Group as well as on a post-reclassification basis. The fair value of all reporting units was determined to be in excess of their carrying amounts in both scenarios and, therefore, no impairment was recorded. Additional Goodwill Considerations Fair value determinations require considerable judgment and are sensitive to changes in underlying assumptions, estimates, and market factors. Estimating the fair value of individual reporting units requires us to make assumptions and estimates regarding our future plans, as well as industry, economic, and regulatory conditions. These assumptions and estimates include estimated future annual net cash flows, income tax rates, discount rates, growth rates, and other market factors. If current expectations of future growth rates and margins are not met, if market factors outside of our control, such as discount rates, income tax rates, foreign currency exchange rates, or any factors that could be affected by COVID-19, change, or if management’s expectations or plans otherwise change, including updates to our long-term operating plans, then one or more of our reporting units might become impaired in the future. Additionally, any decisions to divest certain non-strategic assets has led and could in the future lead to goodwill impairments. Since its onset in early 2020, the COVID-19 pandemic has produced a beneficial financial impact to our consolidated results. Retail sales have increased compared to pre-pandemic periods due to higher than anticipated consumer demand for our products. The foodservice channel, however, has experienced a negative impact from prolonged social distancing mandates limiting access to and capacity at away-from-home establishments for a longer period of time than was expected when they were originally put in place. Our Canada Foodservice reporting unit, which maintains an aggregate goodwill carrying amount of approximately $158 million as of March 26, 2022, is the most exposed of our reporting units to the impacts to away-from-home establishments as it is our only standalone foodservice reporting unit. While our other reporting units have varying levels of exposure to the foodservice channel, they also have exposure to the retail channel, which offsets some of the risk associated with the potential long-term impacts of shifts in net sales between retail and away-from-home establishments. Our Canada Foodservice reporting unit was impaired during our 2020 annual impairment test, reflecting our best estimate at that time of the future outlook and risks of this business. A number of factors could result in further future impairments of our foodservice (or away-from-home) businesses, including but not limited to: mandates around closures of dining rooms in restaurants, distancing of people within establishments resulting in fewer customers, the total number of restaurant closures, changes in consumer preferences or regulatory requirements over product formats (e.g., table top packaging vs. single serve packaging), and consumer trends of dining-in versus dining-out. Given the evolving nature of, and uncertainty driven by, the COVID-19 pandemic, we will continue to evaluate the impact on our reporting units as adverse changes to these assumptions could result in future impairments. Our reporting units that were impaired in 2021 were written down to their respective fair values resulting in zero excess fair value over carrying amount as of the applicable impairment test dates. Accordingly, these and other reporting units that have 20% or less excess fair value over carrying amount as of their latest 2021 impairment testing date have a heightened risk of future impairments if any assumptions, estimates, or market factors change in the future. Although the remaining reporting units have more than 20% excess fair value over carrying amount as of their latest 2021 impairment testing date, these amounts are also primarily associated with the acquisition of H. J. Heinz Company in 2013 by Berkshire Hathaway Inc. and 3G Global Food Holdings, LP (the “2013 Heinz Acquisition”) and the merger of Kraft Foods Group, Inc. with and into H.J. Heinz Holding Corporation in 2015 (the “2015 Merger”) and are recorded on our condensed consolidated balance sheet at their estimated acquisition date fair values. Therefore, if any assumptions, estimates, or market factors change in the future, these amounts are also susceptible to impairments. Indefinite-lived intangible assets: Changes in the carrying amount of indefinite-lived intangible assets, which primarily consisted of trademarks, were (in millions): Balance at December 25, 2021 $ 39,419 Translation adjustments (20) Balance at March 26, 2022 $ 39,399 Our indefinite-lived intangible asset balance primarily consists of a number of individual brands, which had an aggregate carrying amount of $39.4 billion at March 26, 2022. As of their latest 2021 impairment testing date, brands with 20% or less fair value over carrying amount had an aggregate carrying amount after impairment of $21.3 billion, brands with between 20-50% fair value over carrying amount had an aggregate carrying amount of $6.5 billion, and brands that had over 50% fair value over carrying amount had an aggregate carrying amount of $11.8 billion. We test our brands for impairment annually as of the first day of our second quarter, or more frequently if events or circumstances indicate it is more likely than not that the fair value of a brand is less than its carrying amount. No events occurred during the period ended March 26, 2022 that indicated it was more likely than not that any brand was impaired. Additional Indefinite-Lived Intangible Asset Considerations Fair value determinations require considerable judgment and are sensitive to changes in underlying assumptions, estimates, and market factors. Estimating the fair value of individual brands requires us to make assumptions and estimates regarding our future plans, as well as industry, economic, and regulatory conditions. These assumptions and estimates include estimated future annual net cash flows, income tax considerations, discount rates, growth rates, royalty rates, contributory asset charges, and other market factors. If current expectations of future growth rates and margins are not met, if market factors outside of our control, such as discount rates, income tax rates, foreign currency exchange rates, or any factors that could be affected by COVID-19, change, or if management’s expectations or plans otherwise change, including updates to our long-term operating plans, then one or more of our brands might become impaired in the future. Additionally, any decisions to divest certain non-strategic assets has led and could in the future lead to intangible asset impairments. Our brands that were impaired in 2021 were written down to their respective fair values resulting in zero excess fair value over carrying amount as of the applicable impairment test dates. Accordingly, these and other individual brands that have 20% or less excess fair value over carrying amount as of their latest 2021 impairment testing date have a heightened risk of future impairments if any assumptions, estimates, or market factors change in the future. Although the remaining brands have more than 20% excess fair value over carrying amount as of their latest 2021 impairment testing date, these amounts are also associated with the 2013 Heinz Acquisition and the 2015 Merger and are recorded on our condensed consolidated balance sheet at their estimated acquisition date fair values. Therefore, if any assumptions, estimates, or market factors change in the future, these amounts are also susceptible to impairments. Definite-lived intangible assets: Definite-lived intangible assets were (in millions): March 26, 2022 December 25, 2021 Gross Accumulated Net Gross Accumulated Net Trademarks $ 2,172 $ (581) $ 1,591 $ 2,091 $ (556) $ 1,535 Customer-related assets 3,718 (1,079) 2,639 3,617 (1,040) 2,577 Other 14 (3) 11 17 (6) 11 $ 5,904 $ (1,663) $ 4,241 $ 5,725 $ (1,602) $ 4,123 At March 26, 2022 and December 25, 2021, definite-lived intangible assets excluded amounts classified as held for sale. See Note 4, Acquisitions and Divestitures , for additional information on amounts held for sale. Amortization expense for definite-lived intangible assets was $64 million for the three months ended March 26, 2022 and $61 million for the three months ended March 27, 2021. Aside from amortization expense, the change in definite-lived intangible assets from December 25, 2021 to March 26, 2022 primarily reflects $193 million of additions, which are largely related to the Just Spices Acquisition and the Assan Foods Acquisition, and the impact of foreign currency. See Note 4, Acquisitions and Divestitures , for additional information on these acquisitions. We estimate that amortization expense related to definite-lived intangible assets will be approximately $260 million in 2022 and 2023 and $250 million in each of the following four years.

Income Taxes (Notes)

Income Taxes (Notes)	3 Months Ended
	Mar. 26, 2022
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, the calculation of the percentage point impact of goodwill impairment and other items on the effective tax rate are affected by income/(loss) before income taxes. Further, small movements in tax rates due to a change in tax law or a change in tax rates that causes us to revalue our deferred tax balances produces volatility in our effective tax rate. 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 for the three months ended March 26, 2022 was an expense of 19.6% on pre-tax income. Our effective tax rate was favorably impacted by the geographic mix of pre-tax income in various non-U.S. jurisdictions and the impact of certain net discrete items, primarily the reversal of uncertain tax position reserves in certain foreign jurisdictions. Our effective tax rate for the three months ended March 27, 2021 was an expense of 19.3% on pre-tax income. Our effective tax rate was favorably impacted by the geographic mix of pre-tax income and the impact of certain net discrete items, including the reversal of uncertain tax position reserves in certain U.S. state and foreign jurisdictions, favorable changes in estimates of certain foreign taxes, and the revaluation of our deferred tax balances due to changes in U.S. state tax rates. These impacts were partially offset by the unfavorable impact of certain net discrete items, primarily due to non-deductible goodwill impairment (8.2%) related to the Nuts Transaction. Other Income Tax Matters: In the second quarter of 2022, we expect to pay cash taxes of approximately $620 million related to the Cheese Transaction.

Employees' Stock Incentive Plan

Employees' Stock Incentive Plans (Notes)	3 Months Ended
	Mar. 26, 2022
Share-based Payment Arrangement [Abstract]
Employees' Stock Incentive Plans	Employees’ Stock Incentive Plans Stock Options: Our stock option activity and related information was: Number of Stock Options Weighted Average Exercise Price Outstanding at December 25, 2021 11,778,068 $ 45.43 Granted 940,822 38.68 Forfeited (322,764) 58.96 Exercised (1,154,021) 26.60 Outstanding at March 26, 2022 11,242,105 46.41 The aggregate intrinsic value of stock options exercised during the period was $13 million for the three months ended March 26, 2022 . Restricted Stock Units: Our restricted stock unit (“RSU”) activity and related information was: Number of Units Weighted Average Grant Date Fair Value Outstanding at December 25, 2021 12,476,390 $ 33.08 Granted 2,706,762 38.00 Forfeited (723,457) 32.36 Vested (428,928) 74.86 Outstanding at March 26, 2022 14,030,767 32.88 The aggregate fair value of RSUs that vested during the period was $16 million for the three months ended March 26, 2022. Performance Share Units: Our performance share unit (“PSU”) activity and related information was: Number of Units Weighted Average Grant Date Fair Value Outstanding at December 25, 2021 5,319,980 $ 27.24 Granted 1,736,551 34.43 Forfeited (246,420) 30.13 Vested (95,896) 23.46 Outstanding at March 26, 2022 6,714,215 28.70 The aggregate fair value of PSUs that vested during the period was insignificant for the three months ended March 26, 2022.

Postemployment Benefits (Notes)

Postemployment Benefits (Notes)	3 Months Ended
	Mar. 26, 2022
Retirement Benefits [Abstract]
Postemployment Benefits	Postemployment Benefits See our consolidated financial statements and related notes in our Annual Report on Form 10-K for the year ended December 25, 2021 for additional information on our postemployment-related accounting policies. Pension Plans Components of Net Pension Cost/(Benefit): Net pension cost/(benefit) consisted of the following (in millions): For the Three Months Ended U.S. Plans Non-U.S. Plans March 26, 2022 March 27, 2021 March 26, 2022 March 27, 2021 Service cost $ 1 $ 2 $ 4 $ 4 Interest cost 24 22 10 7 Expected return on plan assets (48) (45) (19) (23) Special/contractual termination benefits — 4 — — Net pension cost/(benefit) $ (23) $ (17) $ (5) $ (12) We present all non-service cost components of net pension cost/(benefit) within other expense/(income) on our condensed consolidated statements of income. In the first quarter of 2021, we recognized $4 million of special/contractual termination benefits related to the Nuts Transaction. These special/contractual termination benefits are recorded in other expense/(income) as a component of our pre-tax loss/(gain) on sale of business on the condensed consolidated statement of income for the three months ended March 27, 2021. Employer Contributions: Related to our non-U.S. pension plans, we contributed $3 million during the three months ended March 26, 2022 and plan to make further contributions of approximately $9 million during the remainder of 2022. We did not contribute to our U.S. pension plans during the three months ended March 26, 2022 and do not plan to make contributions during the remainder of 2022. Estimated future contributions take into consideration current economic conditions, which at this time are expected to have minimal impact on expected contributions for the remainder of 2022. Our actual contributions and plans may change due to many factors, including changes in tax, employee benefit, or other laws and regulations, 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 March 26, 2022 March 27, 2021 Service cost $ 1 $ 1 Interest cost 5 5 Expected return on plan assets (14) (12) Amortization of prior service costs/(credits) (4) (2) Amortization of unrecognized losses/(gains) (4) (4) Net postretirement cost/(benefit) $ (16) $ (12) We present all non-service cost components of net postretirement cost/(benefit) within other expense/(income) on our condensed consolidated statements of income. Employer Contributions: During the three months ended March 26, 2022, we contributed $4 million to our postretirement benefit plans. We plan to make further contributions of approximately $9 million to our postretirement benefit plans during the remainder of 2022. Estimated future contributions take into consideration current economic conditions, which at this time are expected to have minimal impact on expected contributions for the remainder of 2022. Our actual contributions and plans may change due to many factors, including changes in tax, employee benefit, or other laws and regulations, tax deductibility, significant differences between expected and actual postretirement plan asset performance or interest rates, or other factors.

Financial Instruments (Notes)

Financial Instruments (Notes)	3 Months Ended
	Mar. 26, 2022
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 25, 2021 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 outstanding derivative instruments were (in millions): Notional Amount March 26, 2022 December 25, 2021 Commodity contracts $ 562 $ 592 Foreign exchange contracts 4,352 3,359 Cross-currency contracts 7,239 7,239 Fair Value of Derivative Instruments: The fair values and the levels within the fair value hierarchy of derivative instruments recorded on the condensed consolidated balance sheets were (in millions): March 26, 2022 Quoted Prices in Active Markets for Identical Assets and Liabilities Significant Other Observable Inputs Total Fair Value Assets Liabilities Assets Liabilities Assets Liabilities Derivatives designated as hedging instruments: Foreign exchange contracts (a) $ — $ — $ 24 $ 26 $ 24 $ 26 Cross-currency contracts (b) — — 342 318 342 318 Derivatives not designated as hedging instruments: Commodity contracts (c) 125 17 7 — 132 17 Foreign exchange contracts (a) — — 54 27 54 27 Total fair value $ 125 $ 17 $ 427 $ 371 $ 552 $ 388 (a) At March 26, 2022, the fair value of our derivative assets was recorded in other current assets ($69 million) and other non-current assets ($9 million), and the fair value of our derivative liabilities was recorded in other current liabilities ($46 million) and other non-current liabilities ($7 million). (b) At March 26, 2022, the fair value of our derivative assets was recorded in other current assets ($83 million) and other non-current assets ($259 million), and the fair value of our derivative liabilities was recorded in other current liabilities ($61 million) and other non-current liabilities ($257 million). (c) At March 26, 2022, the fair value of our derivative assets was recorded in other current assets and the fair value of derivative liabilities was recorded in other current liabilities. December 25, 2021 Quoted Prices in Active Markets for Identical Assets and Liabilities Significant Other Observable Inputs Total Fair Value Assets Liabilities Assets Liabilities Assets Liabilities Derivatives designated as hedging instruments: Foreign exchange contracts (a) $ — $ — $ 24 $ 19 $ 24 $ 19 Cross-currency contracts (b) — — 247 212 247 212 Derivatives not designated as hedging instruments: Commodity contracts (c) 41 17 2 5 43 22 Foreign exchange contracts (a) — — 15 18 15 18 Total fair value $ 41 $ 17 $ 288 $ 254 $ 329 $ 271 (a) At December 25, 2021, the fair value of our derivative assets was recorded in other current assets ($31 million) and other non-current assets ($8 million), and the fair value of our derivative liabilities was recorded in other current liabilities ($33 million) and other non-current liabilities ($4 million). (b) At December 25, 2021, the fair value of our derivative assets was recorded in other current assets ($74 million) and other non-current assets ($173 million), and the fair value of our derivative liabilities was recorded in other current liabilities ($42 million) and other non-current liabilities ($170 million). (c) At December 25, 2021, the fair value of our derivative assets was recorded in other current assets, and the fair value of our derivative liabilities was recorded in other current liabilities. Our derivative financial instruments are subject to master netting arrangements that allow for the offset of assets and liabilities in the event of default or early termination of the contract. We elect to record the gross assets and liabilities of our derivative financial instruments on the condensed consolidated balance sheets. If the derivative financial instruments had been netted on the condensed consolidated balance sheets, the asset and liability positions each would have been reduced by $119 million at March 26, 2022 and $155 million at December 25, 2021. We had collected collateral related to commodity derivative margin requirements of $72 million at March 26, 2022 and $12 million at December 25, 2021, which was included in other current liabilities on our condensed consolidated balance sheets. 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 swaps, foreign exchange forwards, options, and swaps, and cross-currency swaps. Commodity swaps 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 and swaps are valued using an income approach based on observable market forward rates less the contract rate multiplied by the notional amount. Foreign exchange options are valued using an income approach based on a Black-Scholes-Merton formula. This formula uses present value techniques and reflects the time value and intrinsic value based on observable market rates. Cross-currency swaps are valued based on observable market spot and swap rates. We did not have any Level 3 financial assets or liabilities in any period presented. Our calculation of the fair value of financial instruments takes into consideration the risk of nonperformance, including counterparty credit risk. Net Investment Hedging: At March 26, 2022, we had the following items designated as net investment hedges: • Non-derivative foreign-denominated debt with principal amounts of €650 million and £400 million; • Cross-currency contracts with notional amounts of £677 million ($900 million), C$1.4 billion ($1.1 billion), €1.9 billion ($2.1 billion), and ¥9.6 billion ($85 million); and • Foreign exchange contracts denominated in Chinese renminbi with an aggregate notional amount of $116 million and in euro with an aggregate notional amount of $82 million. We periodically use non-derivative instruments such as non-U.S. dollar financing transactions or non-U.S. dollar assets or liabilities, including intercompany loans, to hedge the exposure of changes in underlying foreign currency denominated subsidiary net assets, and they are designated as net investment hedges. At March 26, 2022, we had Chinese renminbi intercompany loans with an aggregate notional amount of $98 million and euro intercompany loans with an aggregate notional amount of $43 million designated as net investment hedges. The component of the gains and losses on our net investment in these designated foreign operations, driven by changes in foreign exchange rates, are economically offset by fair value movements on the effective portion of our cross-currency contracts and foreign exchange contracts and remeasurements of our foreign-denominated debt. Cash Flow Hedge Coverage: At March 26, 2022, we had entered into foreign exchange contracts designated as cash flow hedges for periods not exceeding the next two years and into cross-currency contracts designated as cash flow hedges for periods not exceeding the next seven years. Deferred Hedging Gains and Losses on Cash Flow Hedges: Based on our valuation at March 26, 2022 and assuming market rates remain constant through contract maturities, we expect transfers to net income/(loss) of unrealized losses on foreign currency cash flow hedges during the next 12 months to be insignificant. Additionally, we expect transfers to net income/(loss) of unrealized gains on cross-currency cash flow hedges during the next 12 months to each be insignificant. Acquisition Hedging: We entered into foreign exchange derivative contracts to economically hedge the foreign currency exposure related to the cash consideration for the Hemmer Acquisition. For the three months ended March 26, 2022, the related derivative gains were $38 million, which were recorded within other expense/(income). These gains are classified as other losses/(gains) related to acquisitions and divestitures. See Note 4, Acquisitions and Divestitures , for additional information related to the Hemmer Acquisition. Derivative Impact on the Statements of Comprehensive Income: The following table presents the pre-tax amounts of derivative gains/(losses) deferred into accumulated other comprehensive income/(losses) and the income statement line item that will be affected when reclassified to net income/(loss) (in millions): Accumulated Other Comprehensive Income/(Losses) Component Gains/(Losses) Recognized in Other Comprehensive Income/(Losses) Related to Derivatives Designated as Hedging Instruments Location of Gains/(Losses) When Reclassified to Net Income/(Loss) For the Three Months Ended March 26, 2022 March 27, 2021 Cash flow hedges: Foreign exchange contracts $ — $ (1) Net sales Foreign exchange contracts (9) (23) Cost of products sold Cross-currency contracts (31) (15) Other expense/(income) Cross-currency contracts (excluded component) 8 7 Other expense/(income) Cross-currency contracts (7) (6) Interest expense Net investment hedges: Foreign exchange contracts (1) 1 Other expense/(income) Cross-currency contracts 35 (14) Other expense/(income) Cross-currency contracts (excluded component) 11 6 Interest expense Total gains/(losses) recognized in statements of comprehensive income $ 6 $ (45) Derivative Impact on the Statements of Income: The following tables present the pre-tax amounts of derivative gains/(losses) reclassified from accumulated other comprehensive income/(losses) to net income/(loss) and the affected income statement line items (in millions): For the Three Months Ended March 26, 2022 March 27, 2021 Cost of products sold Interest expense Other expense/(income) Cost of products sold Interest expense Other expense/(income) Total amounts presented in the condensed consolidated statements of income in which the following effects were recorded $ 4,114 $ 242 $ (98) $ 4,193 $ 415 $ (30) Gains/(losses) related to derivatives designated as hedging instruments: Cash flow hedges: Foreign exchange contracts $ (6) $ — $ — $ (7) $ — $ — Foreign exchange contracts (excluded component) (1) — — — — — Cross-currency contracts — (7) (35) — (6) (43) Cross-currency contracts (excluded component) — — 8 — — 6 Net investment hedges: Foreign exchange contracts (excluded component) — 1 — — — — Cross-currency contracts (excluded component) — 9 — — 4 — Gains/(losses) related to derivatives not designated as hedging instruments: Commodity contracts 139 — — 50 — — Foreign exchange contracts — — 38 — — (5) Total gains/(losses) recognized in statements of income $ 132 $ 3 $ 11 $ 43 $ (2) $ (42) Non-Derivative Impact on Statements of Comprehensive Income: Related to our non-derivative foreign-denominated debt instruments designated as net investment hedges, we recognized pre-tax gains of $32 million for the three months ended March 26, 2022 and $18 million for the three months ended March 27, 2021. These amounts were recognized in other comprehensive income/(loss).

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income/(Losses) (Notes)	3 Months Ended
	Mar. 26, 2022
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 25, 2021 $ (2,285) $ 364 $ 97 $ (1,824) Foreign currency translation adjustments (32) — — (32) Net deferred gains/(losses) on net investment hedges 52 — — 52 Amounts excluded from the effectiveness assessment of net investment hedges 9 — — 9 Net deferred losses/(gains) on net investment hedges reclassified to net income/(loss) (8) — — (8) Net deferred gains/(losses) on cash flow hedges — — (34) (34) Amounts excluded from the effectiveness assessment of cash flow hedges — — 7 7 Net deferred losses/(gains) on cash flow hedges reclassified to net income/(loss) — — 22 22 Net postemployment benefit losses/(gains) reclassified to net income/(loss) — (4) — (4) Total other comprehensive income/(loss) 21 (4) (5) 12 Balance as of March 26, 2022 $ (2,264) $ 360 $ 92 $ (1,812) 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 March 26, 2022 March 27, 2021 Before Tax Amount Tax Net of Tax Amount Before Tax Amount Tax Net of Tax Amount Foreign currency translation adjustments $ (32) $ — $ (32) $ 61 $ — $ 61 Net deferred gains/(losses) on net investment hedges 66 (14) 52 5 — 5 Amounts excluded from the effectiveness assessment of net investment hedges 11 (2) 9 6 (1) 5 Net deferred losses/(gains) on net investment hedges reclassified to net income/(loss) (10) 2 (8) (4) 1 (3) Net deferred gains/(losses) on cash flow hedges (47) 13 (34) (45) 16 (29) Amounts excluded from the effectiveness assessment of cash flow hedges 8 (1) 7 7 — 7 Net deferred losses/(gains) on cash flow hedges reclassified to net income/(loss) 41 (19) 22 50 (23) 27 Net actuarial gains/(losses) arising during the period — — — 2 — 2 Net postemployment benefit losses/(gains) reclassified to net income/(loss) (8) 4 (4) (7) 1 (6) 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) to Net Income/(Loss) Affected Line Item in the Statements of Income For the Three Months Ended March 26, 2022 March 27, 2021 Losses/(gains) on net investment hedges: Foreign exchange contracts (a) $ (1) $ — Interest expense Cross-currency contracts (a) (9) (4) Interest expense Losses/(gains) on cash flow hedges: Foreign exchange contracts (b) 7 7 Cost of products sold Cross-currency contracts (b) 27 37 Other expense/(income) Cross-currency contracts (b) 7 6 Interest expense Losses/(gains) on hedges before income taxes 31 46 Losses/(gains) on hedges, income taxes (17) (22) Losses/(gains) on hedges $ 14 $ 24 Losses/(gains) on postemployment benefits: Amortization of unrecognized losses/(gains) (c) $ (4) $ (4) Amortization of prior service costs/(credits) (c) (4) (2) Settlement and curtailment losses/(gains) (c) — (1) Losses/(gains) on postemployment benefits before income taxes (8) (7) Losses/(gains) on postemployment benefits, income taxes 4 1 Losses/(gains) on postemployment benefits $ (4) $ (6) (a) Represents recognition of the excluded component in net income/(loss). (b) Includes amortization of the excluded component and the effective portion of the related hedges. (c) These components are included in the computation of net periodic postemployment benefit costs. See Note 11, Postemployment Benefits , for additional information. In this note we have excluded activity and balances related to noncontrolling interest due to their insignificance. This activity was primarily related to foreign currency translation adjustments.

Financing Arrangements (Notes)

Financing Arrangements (Notes)	3 Months Ended
	Mar. 26, 2022
Transfers and Servicing [Abstract]
Financing Arrangements	Financing Arrangements We enter into various product financing arrangements to facilitate supply from our vendors. Balance sheet classification is based on the nature of the arrangements. We have concluded that our obligations to our suppliers, including amounts due and scheduled payment terms, are impacted by their participation in the program and therefore we classify amounts outstanding within other current liabilities on our condensed consolidated balance sheets. We had approximately $221 million at March 26, 2022 and approximately $215 million at December 25, 2021 on our condensed consolidated balance sheets related to these arrangements. Transfers of Financial Assets: Since 2020, we have had a nonrecourse accounts receivable factoring program whereby certain eligible receivables are sold to third party financial institutions in exchange for cash. The program provides us with an additional means for managing liquidity. Under the terms of the arrangement, we act as the collecting agent on behalf of the financial institutions to collect amounts due from customers for the receivables sold. We account for the transfer of receivables as a true sale at the point control is transferred through derecognition of the receivable on our condensed consolidated balance sheet. No receivables were sold under this accounts receivable factoring program during the three months ended March 26, 2022 or the three months ended March 27, 2021, and there were no amounts outstanding as of March 26, 2022 or December 25, 2021. Any proceeds from the sales of receivables are included in cash from operating activities in the condensed consolidated statements of cash flows.

Commitments, Contingencies and

Commitments, Contingencies and Debt (Notes)	3 Months Ended
	Mar. 26, 2022
Debt Disclosure [Abstract]
Commitments, Contingencies and Debt	Commitments, Contingencies, and Debt Legal Proceedings We are involved in legal proceedings, claims, and governmental inquiries, inspections, or investigations (“Legal Matters”) arising in the ordinary course of our 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 the Legal Matters that are currently pending will have a material adverse effect on our financial condition, results of operations, or cash flows. Class Actions and Stockholder Derivative Actions: The Kraft Heinz Company and certain of our current and former officers and directors are currently defendants in a consolidated securities class action lawsuit pending in the United States District Court for the Northern District of Illinois, Union Asset Management Holding AG, et al. v. The Kraft Heinz Company, et al . The consolidated amended class action complaint, which was filed on August 14, 2020 and also names 3G Capital, Inc. and several of its subsidiaries and affiliates (the “3G Entities”) as defendants, asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and Rule 10b-5 promulgated thereunder, based on allegedly materially false or misleading statements and omissions in public statements, press releases, investor presentations, earnings calls, Company documents, and SEC filings regarding the Company’s business, financial results, and internal controls, and further alleges the 3G Entities engaged in insider trading and misappropriated the Company’s material, non-public information. The plaintiffs seek damages in an unspecified amount, attorneys’ fees, and other relief. The Company filed a motion to dismiss the consolidated amended class action complaint, which motion the court denied in an order dated August 11, 2021. Plaintiffs filed a motion for class certification on March 28, 2022. Certain of The Kraft Heinz Company’s current and former officers and directors and the 3G Entities are also named as defendants in a stockholder derivative action, In re Kraft Heinz Shareholder Derivative Litigation , which had been previously consolidated in the United States District Court for the Western District of Pennsylvania, and is now pending in the United States District Court for the Northern District of Illinois. The court appointed lead plaintiffs and plaintiffs’ counsel on October 21, 2021, and lead plaintiffs filed a consolidated amended complaint on November 22, 2021. The consolidated amended complaint asserts state law claims for alleged breaches of fiduciary duties and unjust enrichment, as well as federal claims for contribution for alleged violations of Sections 10(b) and 21D of the Exchange Act and Rule 10b-5 promulgated thereunder, based on allegedly materially false or misleading statements and omissions in public statements and SEC filings, and for implementing cost cutting measures that allegedly damaged the Company. The plaintiffs seek damages in an unspecified amount, attorneys’ fees, and other relief. Certain of The Kraft Heinz Company’s current and former officers and directors and the 3G Entities are also named as defendants in a consolidated stockholder derivative action, In re Kraft Heinz Company Derivative Litigation , which was filed in the Delaware Court of Chancery. The consolidated amended complaint, which was filed on April 27, 2020, alleges state law claims, contending that the 3G Entities were controlling stockholders who owed fiduciary duties to the Company, and that they breached those duties by allegedly engaging in insider trading and misappropriating the Company’s material, non-public information. The complaint further alleges that certain of The Kraft Heinz Company’s current and former officers and directors breached their fiduciary duties to the Company by purportedly making materially misleading statements and omissions regarding the Company’s financial performance and the impairment of its goodwill and intangible assets, and by supposedly approving or allowing the 3G Entities’ alleged insider trading. The complaint seeks relief against the defendants in the form of damages, disgorgement of all profits obtained from the alleged insider trading, contribution and indemnification, and an award of attorneys’ fees and costs. The defendants filed a motion to dismiss the consolidated amended complaint, which motion the court granted in an order dated December 15, 2021. The plaintiffs filed a notice of appeal on January 13, 2022. We intend to vigorously defend against these lawsuits; however, we cannot reasonably estimate the potential range of loss, if any, due to the early stage of these proceedings. Debt We may from time to time seek to retire or purchase our outstanding debt through redemptions, tender offers, cash purchases, prepayments, refinancing, exchange offers, open market or privately negotiated transactions, Rule 10b5-1 plans, or otherwise. Cash payments related to debt extinguishment are classified as cash outflows from financing activities on the condensed consolidated statements of cash flows. Any gains or losses on extinguishment of debt are recognized in interest expense on the condensed consolidated statements of income. Borrowing Arrangements: See Note 17, Debt , to our consolidated financial statements in our Annual Report on Form 10-K for the year ended December 25, 2021 for information on our borrowing arrangements. Our long-term debt contains customary representations, covenants, and events of default. We were in compliance with all financial covenants as of March 26, 2022. 2021 Tender Offer: In February 2021, Kraft Heinz Foods Company (“KHFC”) commenced a cash tender offer to purchase up to the maximum combined aggregate purchase price of $1.0 billion, including principal and premium but excluding accrued and unpaid interest (the “2021 Maximum Tender Amount”), of its outstanding 3.950% senior notes due July 2025, 3.000% senior notes due June 2026, 4.000% senior notes due June 2023, and 3.500% senior notes due June 2022 (the “Q1 2021 Tender Offer”), listed in order of priority. Based on participation, KHFC elected to settle the Q1 2021 Tender Offer on the early settlement date, March 9, 2021. Since the aggregate purchase price of the senior notes validly tendered and not validly withdrawn as of the early tender time exceeded the 2021 Maximum Tender Amount, we did not accept for purchase any of the 3.500% senior notes due June 2022 or the 4.000% senior notes due June 2023. The aggregate principal amount of senior notes validly tendered and accepted was approximately $900 million. See Note 17, Debt , to our consolidated financial statements in our Annual Report on Form 10-K for the year ended December 25, 2021 for the amount extinguished by senior notes in the Q1 2021 Tender Offer. In connection with the Q1 2021 Tender Offer, we recognized a loss on extinguishment of debt of $106 million within interest expense on the condensed consolidated statement of income for the three months ended March 27, 2021. This loss primarily reflects the payment of early tender premiums and fees associated with the Q1 2021 Tender Offer as well as the write-off of unamortized debt issuance costs and discounts. Related to the Q1 2021 Tender Offer, we recognized debt prepayment and extinguishment costs of $103 million on the condensed consolidated statement of cash flows for the three months ended March 27, 2021, which reflects the $106 million loss on extinguishment of debt adjusted for the non-cash write-off of unamortized debt issuance costs of $2 million and unamortized discounts of $1 million. Debt Repayments: In March 2022, we repaid $6 million aggregate principal amount of senior notes that matured in the period. In February 2021, we repaid $111 million aggregate principal amount of senior notes that matured in the period. Fair Value of Debt: At March 26, 2022, the aggregate fair value of our total debt was $22.5 billion as compared with a carrying value of $21.8 billion. At December 25, 2021, the aggregate fair value of our total debt was $25.7 billion as compared with a carrying value of $21.8 billion. Our short-term debt had a carrying value that approximated its fair value at March 26, 2022 and December 25, 2021. 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.

Earnings Per Share (Notes)

Earnings Per Share (Notes)	3 Months Ended
	Mar. 26, 2022
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Our earnings per common share (“EPS”) were: For the Three Months Ended March 26, 2022 March 27, 2021 (in millions, except per share data) Basic Earnings Per Common Share: Net income/(loss) attributable to common shareholders $ 776 $ 563 Weighted average shares of common stock outstanding 1,225 1,223 Net earnings/(loss) $ 0.63 $ 0.46 Diluted Earnings Per Common Share: Net income/(loss) attributable to common shareholders $ 776 $ 563 Weighted average shares of common stock outstanding 1,225 1,223 Effect of dilutive equity awards 9 9 Weighted average shares of common stock outstanding, including dilutive effect 1,234 1,232 Net earnings/(loss) $ 0.63 $ 0.46 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 8 million for the three months ended March 26, 2022 and 8 million for the three months ended March 27, 2021.

Segment Reporting (Notes)

Segment Reporting (Notes)	3 Months Ended
	Mar. 26, 2022
Segment Reporting [Abstract]
Segment Reporting	Segment ReportingWe manage and report our operating results through three reportable segments defined by geographic region: United States, International, and Canada. Management evaluates segment performance based on several factors, including net sales and Segment Adjusted EBITDA. Segment Adjusted EBITDA is defined as net income/(loss) from continuing operations before interest expense, other expense/(income), provision for/(benefit from) income taxes, and depreciation and amortization (excluding restructuring activities); in addition to these adjustments, we exclude, when they occur, the impacts of divestiture-related license income (e.g., income related to the sale of licenses in connection with the Cheese Transaction), restructuring activities, deal 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, certain non-ordinary course legal and regulatory matters, and equity award compensation expense (excluding restructuring activities). 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. Management uses Segment Adjusted EBITDA to evaluate segment performance and allocate resources. 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 March 26, 2022 March 27, 2021 Net sales: United States $ 4,214 $ 4,608 International 1,444 1,394 Canada 387 392 Total net sales $ 6,045 $ 6,394 Segment Adjusted EBITDA was (in millions): For the Three Months Ended March 26, 2022 March 27, 2021 Segment Adjusted EBITDA: United States $ 1,091 $ 1,280 International 242 283 Canada 82 87 General corporate expenses (73) (70) Depreciation and amortization (excluding restructuring activities) (217) (222) Divestiture-related license income 14 — Restructuring activities (19) (18) Deal costs (8) (7) Unrealized gains/(losses) on commodity hedges 92 37 Impairment losses (55) (230) Equity award compensation expense (excluding restructuring activities) (34) (51) Operating income/(loss) 1,115 1,089 Interest expense 242 415 Other expense/(income) (98) (30) Income/(loss) before income taxes $ 971 $ 704 Net sales by platform were (in millions): For the Three Months Ended March 26, 2022 March 27, 2021 Taste Elevation $ 1,830 $ 1,692 Fast Fresh Meals 1,358 1,625 Easy Meals Made Better 1,238 1,201 Real Food Snacking 315 581 Flavorful Hydration 455 411 Easy Indulgent Desserts 217 212 Other 632 672 Total net sales $ 6,045 $ 6,394 In the fourth quarter of 2021, following the divestiture of certain of our global cheese businesses, we reorganized certain products within our platforms to reflect how we plan to manage our business going forward, including the role assigned to these products and platforms within our business. We have reflected these changes in all historical periods presented. Net sales by product category were (in millions): For the Three Months Ended March 26, 2022 March 27, 2021 Condiments and sauces $ 1,827 $ 1,682 Cheese and dairy 885 1,233 Ambient foods 722 698 Frozen and chilled foods 674 674 Meats and seafood 628 611 Refreshment beverages 456 411 Coffee 214 210 Infant and nutrition 104 107 Desserts, toppings, and baking 246 242 Nuts and salted snacks — 251 Other 289 275 Total net sales $ 6,045 $ 6,394

Other Financial Data (Notes)

Other Financial Data (Notes)	3 Months Ended
	Mar. 26, 2022
Other Income and Expenses [Abstract]
Other Financial Data	Other Financial Data Condensed Consolidated Statements of Income Information Other expense/(income) consists of the following (in millions): For the Three Months Ended March 26, 2022 March 27, 2021 Amortization of postemployment benefit plans prior service costs/(credits) $ (4) $ (2) Net pension and postretirement non-service cost/(benefit) (a) (46) (50) Loss/(gain) on sale of business 1 19 Interest income (5) (5) Foreign exchange losses/(gains) (32) (36) Derivative losses/(gains) (11) 42 Other miscellaneous expense/(income) (1) 2 Other expense/(income) $ (98) $ (30) (a) Excludes amortization of prior service costs/(credits). We present all non-service cost components of net pension cost/(benefit) and net postretirement cost/(benefit) within other expense/(income) on our condensed consolidated statements of income. See Note 11, Postemployment Benefits , for additional information on these components, including any curtailments and settlements, as well as information on our prior service credit amortization. See Note 4, Acquisitions and Divestitures , for additional information related to our loss/(gain) on sale of business. See Note 12, Financial Instruments , for information related to our derivative impacts.

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Mar. 26, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Fiscal Period, Policy	We operate on a 52- or 53-week fiscal year ending on the last Saturday in December in each calendar year. Unless the context requires otherwise, references to years and quarters contained herein pertain to our fiscal years and fiscal quarters. Our 2022 fiscal year is scheduled to be a 53-week period ending on December 31, 2022, and our 2021 fiscal year was a 52-week period that ended on December 25, 2021.
Principles of Consolidation, Policy	Principles of Consolidation The condensed consolidated financial statements include The Kraft Heinz Company and all of our controlled subsidiaries. All intercompany transactions are eliminated.
Reportable Segments, Policy	Reportable Segments We manage and report our operating results through three reportable segments defined by geographic region: United States, International, and Canada.
Use of Estimates, Policy	Use of Estimates We prepare our condensed consolidated financial statements in accordance with U.S. GAAP, which requires us to make accounting policy elections, estimates, and assumptions that affect the reported amount of assets, liabilities, reserves, and expenses. These accounting policy elections, estimates, and assumptions are based on our best estimates and judgments. We evaluate our policy elections, estimates, and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment. We believe these estimates to be reasonable given the current facts available. We adjust our policy elections, estimates, and assumptions when facts and circumstances dictate. Market volatility, including foreign currency exchange rates, increases the uncertainty inherent in our estimates and assumptions. As future events and their effects cannot be determined with precision, actual results could differ significantly from estimates. If actual amounts differ from estimates, we include the revisions in our consolidated results of operations in the period the actual amounts become known. Historically, the aggregate differences, if any, between our estimates and actual amounts in any year have not had a material effect on our condensed consolidated financial statements.
Reclassifications, Policy	Reclassifications We made reclassifications and adjustments to certain previously reported financial information to conform to our current period presentation.

New Accounting Standards (Polic

New Accounting Standards (Policies)	3 Months Ended
	Mar. 26, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
New Accounting Standards	Accounting Standards Not Yet Adopted Accounting for Contract Assets and Contract Liabilities from Contracts with Customers: In October 2021, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2021-08 to amend the accounting for contract assets and contract liabilities acquired in a business combination under Accounting Standards Codification (“ASC”) 805, Business Combinations . The guidance requires entities engaged in a business combination to recognize and measure contract assets acquired and contract liabilities assumed in accordance with ASC 606, Revenue from Contracts with Customers , rather than at fair value on the acquisition date. The amendments also apply to other contracts such as contract liabilities arising from nonfinancial assets under ASC 610-20, Other Income – Gains and Losses from the Derecognition of Nonfinancial Assets . The ASU will be effective beginning in the first quarter of 2023. Early adoption is permitted, including in an interim period. We currently expect to adopt ASU 2021-08 in the first quarter of 2023 on a prospective basis. While the impact of these amendments is dependent on the nature of any future transactions, we currently do not expect this ASU to have a significant impact on our financial statements and related disclosures. Reference Rate Reform (Topic 848) - Facilitation of the Effects of Reference Rate Reform on Financial Reporting: In March 2020, the FASB issued ASU 2020-04 to provide temporary optional expedients and exceptions to the U.S. GAAP guidance for accounting for contracts, hedging relationships, and other transactions affected by the transition from discontinued reference rates, such as the London Interbank Offered Rate (LIBOR), to alternative reference rates. The new accounting requirements can be applied from March 12, 2020 through December 31, 2022. While we currently do not expect this new guidance to have a significant impact on our financial statements or related disclosures, we continue to evaluate our contracts and the optional expedients provided by the new standard.

Acquisitions and Divestitures_2

Acquisitions and Divestitures (Tables)	3 Months Ended
	Mar. 26, 2022
Business Acquisition [Line Items]
Assets and Liabilities Held for Sale by Major Class	Our assets held for sale, by major class, were (in millions): March 26, 2022 December 25, 2021 ASSETS Inventories $ 3 $ 5 Property, plant and equipment, net 85 5 Intangible assets, net 1 1 Total assets held for sale $ 89 $ 11
Just Spices Acquisition
Business Acquisition [Line Items]
Purchase Price Allocation to Assets Acquired and Liabilities Assumed	The preliminary purchase price allocation to assets acquired and liabilities assumed in the Just Spices Acquisition was (in millions): Initial Allocation Cash $ 2 Trade receivables 4 Inventories 7 Other current assets 9 Property, plant and equipment, net 1 Identifiable intangible assets 172 Trade payables (10) Other current liabilities (12) Other non-current liabilities (54) Net assets acquired 119 Redeemable noncontrolling interest (43) Goodwill on acquisition 167 Total consideration $ 243
Purchase Price Allocation to Identifiable Intangible Assets Acquired	The preliminary purchase price allocation to identifiable intangible assets acquired in the Just Spices Acquisition was: Fair Value Weighted Average Life Definite-lived trademarks $ 72 10 Customer-related assets 100 15 Total $ 172
Assan Foods Acquisition
Business Acquisition [Line Items]
Purchase Price Allocation to Assets Acquired and Liabilities Assumed	The preliminary purchase price allocation to assets acquired and liabilities assumed in the Assan Foods Acquisition was (in millions): Initial Allocation (a) Adjustments Updated Allocation Cash $ 4 $ — $ 4 Trade receivables 24 — 24 Inventories 26 — 26 Other current assets 2 — 2 Property, plant and equipment, net 12 — 12 Identifiable intangible assets — 16 16 Other non-current assets 4 1 5 Short-term debt (21) — (21) Current portion of long-term debt (5) — (5) Trade payables (25) — (25) Other current liabilities (2) — (2) Long-term debt (4) — (4) Other non-current liabilities — (4) (4) Net assets acquired 15 13 28 Goodwill on acquisition 64 (13) 51 Total consideration $ 79 $ — $ 79 (a) As reported in Note 4, Acquisitions and Divestitures , to our consolidated financial statements in our Annual Report on Form 10-K for the year ended December 25, 2021.
Purchase Price Allocation to Identifiable Intangible Assets Acquired	The preliminary purchase price allocation to identifiable intangible assets acquired in the Assan Foods Acquisition was: Fair Value Weighted Average Life Definite-lived trademarks $ 13 10 Customer-related assets 3 10 Total 16

Restructuring Activities (Table

Restructuring Activities (Tables)	3 Months Ended
	Mar. 26, 2022
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Reserve by Type of Cost	Our net liability balance for restructuring project costs that qualify as exit and disposal costs under U.S. GAAP was (in millions): Severance and Employee Benefit Costs Other Exit Costs Total Balance at December 25, 2021 $ 27 $ 16 $ 43 Charges/(credits) 10 — 10 Cash payments (14) (1) (15) Balance at March 26, 2022 $ 23 $ 15 $ 38
Restructuring Costs by Type and Income Statement Location	Total expense/(income) related to restructuring activities, by income statement caption, were (in millions): For the Three Months Ended March 26, 2022 March 27, 2021 Severance and employee benefit costs - Cost of products sold $ (3) $ 3 Severance and employee benefit costs - SG&A 13 1 Asset-related costs - Cost of products sold 4 — Other costs - Cost of products sold 3 — Other costs - SG&A 2 14 $ 19 $ 18
Restructuring Costs Excluded from Segments	The pre-tax impact of allocating such expenses/(income) to our segments would have been (in millions): For the Three Months Ended March 26, 2022 March 27, 2021 United States $ 18 $ 1 International (2) 4 Canada 2 — General corporate expenses 1 13 $ 19 $ 18

Restricted Cash (Tables)

Restricted Cash (Tables)	3 Months Ended
	Mar. 26, 2022
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): March 26, 2022 December 25, 2021 Cash and cash equivalents $ 2,978 $ 3,445 Restricted cash included in other current assets 1 — Restricted cash included in other non-current assets 1 1 Cash, cash equivalents, and restricted cash $ 2,980 $ 3,446

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 26, 2022
Inventory Disclosure [Abstract]
Inventories	Inventories consisted of the following (in millions): March 26, 2022 December 25, 2021 Packaging and ingredients $ 671 $ 571 Spare parts 211 208 Work in process 270 268 Finished products 1,941 1,682 Inventories $ 3,093 $ 2,729

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets (Tables)	3 Months Ended
	Mar. 26, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Changes in the Carrying Amount of Goodwill by Segment	Changes in the carrying amount of goodwill, by segment, were (in millions): United States International Canada Total Balance at December 25, 2021 $ 26,745 $ 3,054 $ 1,497 $ 31,296 Acquisitions — 167 — 167 Measurement period adjustments — (4) — (4) Translation adjustments and other — (60) 41 (19) Balance at March 26, 2022 $ 26,745 $ 3,157 $ 1,538 $ 31,440
Changes in the Carrying Amount of Indefinite-Lived Intangible Assets	Changes in the carrying amount of indefinite-lived intangible assets, which primarily consisted of trademarks, were (in millions): Balance at December 25, 2021 $ 39,419 Translation adjustments (20) Balance at March 26, 2022 $ 39,399
Schedule of Definite-Lived Intangible Assets By Major Asset Class	Definite-lived intangible assets were (in millions): March 26, 2022 December 25, 2021 Gross Accumulated Net Gross Accumulated Net Trademarks $ 2,172 $ (581) $ 1,591 $ 2,091 $ (556) $ 1,535 Customer-related assets 3,718 (1,079) 2,639 3,617 (1,040) 2,577 Other 14 (3) 11 17 (6) 11 $ 5,904 $ (1,663) $ 4,241 $ 5,725 $ (1,602) $ 4,123

Employees' Stock Incentive Pl_2

Employees' Stock Incentive Plans (Tables)	3 Months Ended
	Mar. 26, 2022
Share-based Payment Arrangement [Abstract]
Schedule of Stock Option Activity and Related Information	Our stock option activity and related information was: Number of Stock Options Weighted Average Exercise Price Outstanding at December 25, 2021 11,778,068 $ 45.43 Granted 940,822 38.68 Forfeited (322,764) 58.96 Exercised (1,154,021) 26.60 Outstanding at March 26, 2022 11,242,105 46.41
Schedule of RSU Activity and Related Information	Our restricted stock unit (“RSU”) activity and related information was: Number of Units Weighted Average Grant Date Fair Value Outstanding at December 25, 2021 12,476,390 $ 33.08 Granted 2,706,762 38.00 Forfeited (723,457) 32.36 Vested (428,928) 74.86 Outstanding at March 26, 2022 14,030,767 32.88
Schedule of PSU Activity and Related Information	Our performance share unit (“PSU”) activity and related information was: Number of Units Weighted Average Grant Date Fair Value Outstanding at December 25, 2021 5,319,980 $ 27.24 Granted 1,736,551 34.43 Forfeited (246,420) 30.13 Vested (95,896) 23.46 Outstanding at March 26, 2022 6,714,215 28.70

Postemployment Benefits (Tables

Postemployment Benefits (Tables)	3 Months Ended
	Mar. 26, 2022
Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Net Cost/(Benefit)	Net pension cost/(benefit) consisted of the following (in millions): For the Three Months Ended U.S. Plans Non-U.S. Plans March 26, 2022 March 27, 2021 March 26, 2022 March 27, 2021 Service cost $ 1 $ 2 $ 4 $ 4 Interest cost 24 22 10 7 Expected return on plan assets (48) (45) (19) (23) Special/contractual termination benefits — 4 — — Net pension cost/(benefit) $ (23) $ (17) $ (5) $ (12)
Postretirement Plans
Defined Benefit Plan Disclosure [Line Items]
Net Cost/(Benefit)	Net postretirement cost/(benefit) consisted of the following (in millions): For the Three Months Ended March 26, 2022 March 27, 2021 Service cost $ 1 $ 1 Interest cost 5 5 Expected return on plan assets (14) (12) Amortization of prior service costs/(credits) (4) (2) Amortization of unrecognized losses/(gains) (4) (4) Net postretirement cost/(benefit) $ (16) $ (12)

Financial Instruments (Tables)

Financial Instruments (Tables)	3 Months Ended
	Mar. 26, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Notional Values of Outstanding Derivatives	The notional values of our outstanding derivative instruments were (in millions): Notional Amount March 26, 2022 December 25, 2021 Commodity contracts $ 562 $ 592 Foreign exchange contracts 4,352 3,359 Cross-currency contracts 7,239 7,239
Schedule of Derivative Fair Values	The fair values and the levels within the fair value hierarchy of derivative instruments recorded on the condensed consolidated balance sheets were (in millions): March 26, 2022 Quoted Prices in Active Markets for Identical Assets and Liabilities Significant Other Observable Inputs Total Fair Value Assets Liabilities Assets Liabilities Assets Liabilities Derivatives designated as hedging instruments: Foreign exchange contracts (a) $ — $ — $ 24 $ 26 $ 24 $ 26 Cross-currency contracts (b) — — 342 318 342 318 Derivatives not designated as hedging instruments: Commodity contracts (c) 125 17 7 — 132 17 Foreign exchange contracts (a) — — 54 27 54 27 Total fair value $ 125 $ 17 $ 427 $ 371 $ 552 $ 388 (a) At March 26, 2022, the fair value of our derivative assets was recorded in other current assets ($69 million) and other non-current assets ($9 million), and the fair value of our derivative liabilities was recorded in other current liabilities ($46 million) and other non-current liabilities ($7 million). (b) At March 26, 2022, the fair value of our derivative assets was recorded in other current assets ($83 million) and other non-current assets ($259 million), and the fair value of our derivative liabilities was recorded in other current liabilities ($61 million) and other non-current liabilities ($257 million). (c) At March 26, 2022, the fair value of our derivative assets was recorded in other current assets and the fair value of derivative liabilities was recorded in other current liabilities. December 25, 2021 Quoted Prices in Active Markets for Identical Assets and Liabilities Significant Other Observable Inputs Total Fair Value Assets Liabilities Assets Liabilities Assets Liabilities Derivatives designated as hedging instruments: Foreign exchange contracts (a) $ — $ — $ 24 $ 19 $ 24 $ 19 Cross-currency contracts (b) — — 247 212 247 212 Derivatives not designated as hedging instruments: Commodity contracts (c) 41 17 2 5 43 22 Foreign exchange contracts (a) — — 15 18 15 18 Total fair value $ 41 $ 17 $ 288 $ 254 $ 329 $ 271 (a) At December 25, 2021, the fair value of our derivative assets was recorded in other current assets ($31 million) and other non-current assets ($8 million), and the fair value of our derivative liabilities was recorded in other current liabilities ($33 million) and other non-current liabilities ($4 million). (b) At December 25, 2021, the fair value of our derivative assets was recorded in other current assets ($74 million) and other non-current assets ($173 million), and the fair value of our derivative liabilities was recorded in other current liabilities ($42 million) and other non-current liabilities ($170 million). (c) At December 25, 2021, the fair value of our derivative assets was recorded in other current assets, and the fair value of our derivative liabilities was recorded in other current liabilities.
Derivative Impact on Statements of Other Comprehensive Income	The following table presents the pre-tax amounts of derivative gains/(losses) deferred into accumulated other comprehensive income/(losses) and the income statement line item that will be affected when reclassified to net income/(loss) (in millions): Accumulated Other Comprehensive Income/(Losses) Component Gains/(Losses) Recognized in Other Comprehensive Income/(Losses) Related to Derivatives Designated as Hedging Instruments Location of Gains/(Losses) When Reclassified to Net Income/(Loss) For the Three Months Ended March 26, 2022 March 27, 2021 Cash flow hedges: Foreign exchange contracts $ — $ (1) Net sales Foreign exchange contracts (9) (23) Cost of products sold Cross-currency contracts (31) (15) Other expense/(income) Cross-currency contracts (excluded component) 8 7 Other expense/(income) Cross-currency contracts (7) (6) Interest expense Net investment hedges: Foreign exchange contracts (1) 1 Other expense/(income) Cross-currency contracts 35 (14) Other expense/(income) Cross-currency contracts (excluded component) 11 6 Interest expense Total gains/(losses) recognized in statements of comprehensive income $ 6 $ (45)
Derivative Impact on Statements of Income	The following tables present the pre-tax amounts of derivative gains/(losses) reclassified from accumulated other comprehensive income/(losses) to net income/(loss) and the affected income statement line items (in millions): For the Three Months Ended March 26, 2022 March 27, 2021 Cost of products sold Interest expense Other expense/(income) Cost of products sold Interest expense Other expense/(income) Total amounts presented in the condensed consolidated statements of income in which the following effects were recorded $ 4,114 $ 242 $ (98) $ 4,193 $ 415 $ (30) Gains/(losses) related to derivatives designated as hedging instruments: Cash flow hedges: Foreign exchange contracts $ (6) $ — $ — $ (7) $ — $ — Foreign exchange contracts (excluded component) (1) — — — — — Cross-currency contracts — (7) (35) — (6) (43) Cross-currency contracts (excluded component) — — 8 — — 6 Net investment hedges: Foreign exchange contracts (excluded component) — 1 — — — — Cross-currency contracts (excluded component) — 9 — — 4 — Gains/(losses) related to derivatives not designated as hedging instruments: Commodity contracts 139 — — 50 — — Foreign exchange contracts — — 38 — — (5) Total gains/(losses) recognized in statements of income $ 132 $ 3 $ 11 $ 43 $ (2) $ (42)

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income/(Losses) (Tables) - AOCI Attributable to Parent	3 Months Ended
	Mar. 26, 2022
Accumulated Other Comprehensive Income/(Loss) [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 25, 2021 $ (2,285) $ 364 $ 97 $ (1,824) Foreign currency translation adjustments (32) — — (32) Net deferred gains/(losses) on net investment hedges 52 — — 52 Amounts excluded from the effectiveness assessment of net investment hedges 9 — — 9 Net deferred losses/(gains) on net investment hedges reclassified to net income/(loss) (8) — — (8) Net deferred gains/(losses) on cash flow hedges — — (34) (34) Amounts excluded from the effectiveness assessment of cash flow hedges — — 7 7 Net deferred losses/(gains) on cash flow hedges reclassified to net income/(loss) — — 22 22 Net postemployment benefit losses/(gains) reclassified to net income/(loss) — (4) — (4) Total other comprehensive income/(loss) 21 (4) (5) 12 Balance as of March 26, 2022 $ (2,264) $ 360 $ 92 $ (1,812)
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 March 26, 2022 March 27, 2021 Before Tax Amount Tax Net of Tax Amount Before Tax Amount Tax Net of Tax Amount Foreign currency translation adjustments $ (32) $ — $ (32) $ 61 $ — $ 61 Net deferred gains/(losses) on net investment hedges 66 (14) 52 5 — 5 Amounts excluded from the effectiveness assessment of net investment hedges 11 (2) 9 6 (1) 5 Net deferred losses/(gains) on net investment hedges reclassified to net income/(loss) (10) 2 (8) (4) 1 (3) Net deferred gains/(losses) on cash flow hedges (47) 13 (34) (45) 16 (29) Amounts excluded from the effectiveness assessment of cash flow hedges 8 (1) 7 7 — 7 Net deferred losses/(gains) on cash flow hedges reclassified to net income/(loss) 41 (19) 22 50 (23) 27 Net actuarial gains/(losses) arising during the period — — — 2 — 2 Net postemployment benefit losses/(gains) reclassified to net income/(loss) (8) 4 (4) (7) 1 (6)
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) to Net Income/(Loss) Affected Line Item in the Statements of Income For the Three Months Ended March 26, 2022 March 27, 2021 Losses/(gains) on net investment hedges: Foreign exchange contracts (a) $ (1) $ — Interest expense Cross-currency contracts (a) (9) (4) Interest expense Losses/(gains) on cash flow hedges: Foreign exchange contracts (b) 7 7 Cost of products sold Cross-currency contracts (b) 27 37 Other expense/(income) Cross-currency contracts (b) 7 6 Interest expense Losses/(gains) on hedges before income taxes 31 46 Losses/(gains) on hedges, income taxes (17) (22) Losses/(gains) on hedges $ 14 $ 24 Losses/(gains) on postemployment benefits: Amortization of unrecognized losses/(gains) (c) $ (4) $ (4) Amortization of prior service costs/(credits) (c) (4) (2) Settlement and curtailment losses/(gains) (c) — (1) Losses/(gains) on postemployment benefits before income taxes (8) (7) Losses/(gains) on postemployment benefits, income taxes 4 1 Losses/(gains) on postemployment benefits $ (4) $ (6) (a) Represents recognition of the excluded component in net income/(loss). (b) Includes amortization of the excluded component and the effective portion of the related hedges. (c) These components are included in the computation of net periodic postemployment benefit costs. See Note 11, Postemployment Benefits , for additional information.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 26, 2022
Earnings Per Share [Abstract]
Schedule of Earnings Per Common Share, Basic and Diluted	Our earnings per common share (“EPS”) were: For the Three Months Ended March 26, 2022 March 27, 2021 (in millions, except per share data) Basic Earnings Per Common Share: Net income/(loss) attributable to common shareholders $ 776 $ 563 Weighted average shares of common stock outstanding 1,225 1,223 Net earnings/(loss) $ 0.63 $ 0.46 Diluted Earnings Per Common Share: Net income/(loss) attributable to common shareholders $ 776 $ 563 Weighted average shares of common stock outstanding 1,225 1,223 Effect of dilutive equity awards 9 9 Weighted average shares of common stock outstanding, including dilutive effect 1,234 1,232 Net earnings/(loss) $ 0.63 $ 0.46

Segment Reporting (Tables)

Segment Reporting (Tables)	3 Months Ended
	Mar. 26, 2022
Segment Reporting [Abstract]
Net Sales by Segment	Net sales by segment were (in millions): For the Three Months Ended March 26, 2022 March 27, 2021 Net sales: United States $ 4,214 $ 4,608 International 1,444 1,394 Canada 387 392 Total net sales $ 6,045 $ 6,394
Segment Adjusted EBITDA	Segment Adjusted EBITDA was (in millions): For the Three Months Ended March 26, 2022 March 27, 2021 Segment Adjusted EBITDA: United States $ 1,091 $ 1,280 International 242 283 Canada 82 87 General corporate expenses (73) (70) Depreciation and amortization (excluding restructuring activities) (217) (222) Divestiture-related license income 14 — Restructuring activities (19) (18) Deal costs (8) (7) Unrealized gains/(losses) on commodity hedges 92 37 Impairment losses (55) (230) Equity award compensation expense (excluding restructuring activities) (34) (51) Operating income/(loss) 1,115 1,089 Interest expense 242 415 Other expense/(income) (98) (30) Income/(loss) before income taxes $ 971 $ 704
Net Sales by Platform	Net sales by platform were (in millions): For the Three Months Ended March 26, 2022 March 27, 2021 Taste Elevation $ 1,830 $ 1,692 Fast Fresh Meals 1,358 1,625 Easy Meals Made Better 1,238 1,201 Real Food Snacking 315 581 Flavorful Hydration 455 411 Easy Indulgent Desserts 217 212 Other 632 672 Total net sales $ 6,045 $ 6,394 In the fourth quarter of 2021, following the divestiture of certain of our global cheese businesses, we reorganized certain products within our platforms to reflect how we plan to manage our business going forward, including the role assigned to these products and platforms within our business. We have reflected these changes in all historical periods presented.
Net Sales by Product Category	Net sales by product category were (in millions): For the Three Months Ended March 26, 2022 March 27, 2021 Condiments and sauces $ 1,827 $ 1,682 Cheese and dairy 885 1,233 Ambient foods 722 698 Frozen and chilled foods 674 674 Meats and seafood 628 611 Refreshment beverages 456 411 Coffee 214 210 Infant and nutrition 104 107 Desserts, toppings, and baking 246 242 Nuts and salted snacks — 251 Other 289 275 Total net sales $ 6,045 $ 6,394

Other Financial Data (Tables)

Other Financial Data (Tables)	3 Months Ended
	Mar. 26, 2022
Other Income and Expenses [Abstract]
Schedule of Other Expense/(Income)	Other expense/(income) consists of the following (in millions): For the Three Months Ended March 26, 2022 March 27, 2021 Amortization of postemployment benefit plans prior service costs/(credits) $ (4) $ (2) Net pension and postretirement non-service cost/(benefit) (a) (46) (50) Loss/(gain) on sale of business 1 19 Interest income (5) (5) Foreign exchange losses/(gains) (32) (36) Derivative losses/(gains) (11) 42 Other miscellaneous expense/(income) (1) 2 Other expense/(income) $ (98) $ (30) (a) Excludes amortization of prior service costs/(credits).

Basis of Presentation (Details)

Basis of Presentation (Details) - segment	3 Months Ended
	Jun. 25, 2022	Mar. 26, 2022
Segment Reporting Information [Line Items]
Number of reportable segments		3
Forecast
Segment Reporting Information [Line Items]
Number of reportable segments	2

Acquisitions and Divestitures -

Acquisitions and Divestitures - Additional Information (Details) € in Millions, R$ in Millions, ₨ in Billions

Nov. 29, 2021USD ($)

Oct. 01, 2021BRL (R$)

Jan. 30, 2019USD ($)third-party

Jan. 30, 2019INR (₨)third-party

Jun. 25, 2022USD ($)

Jun. 25, 2022BRL (R$)

Mar. 26, 2022USD ($)

Mar. 26, 2022EUR (€)

Dec. 25, 2021USD ($)

Mar. 27, 2021USD ($)

Mar. 30, 2019USD ($)

Jan. 18, 2022USD ($)

Oct. 01, 2021USD ($)

Feb. 10, 2021USD ($)manufacturingFacilities

Business Acquisition [Line Items]

Goodwill

$ 31,440,000,000

$ 31,296,000,000

Deal costs

8,000,000

$ 7,000,000

Consideration related to perpetual licenses

1,000,000

1,000,000

Divestiture-related license income

14,000,000

0

Long-term deferred income

1,525,000,000

1,534,000,000

Other current liabilities

2,485,000,000

2,485,000,000

Proceeds from sale of business, net of cash disposed and working capital adjustments

20,000,000

0

Goodwill impairment losses

(11,000,000)

$ 53,000,000

230,000,000

Pre-tax gain (loss) on disposition of business

(1,000,000)

(19,000,000)

Impairment loss

55,000,000

230,000,000

Cost of products sold

Business Acquisition [Line Items]

Impairment loss

66,000,000

Cheese Divestiture Licenses

Business Acquisition [Line Items]

Long-term deferred income

1,500,000,000

Other current liabilities

56,000,000

Cheese Transaction | Kraft And Velveeta | License

Business Acquisition [Line Items]

Disposal group, including discontinued operation, revenue recognition term

30 years

Cheese Transaction | Philadelphia | License

Business Acquisition [Line Items]

Disposal group, including discontinued operation, revenue recognition term

3 years

Cheese Transaction | Disposal Group, held-for-sale, not discontinued operations

Business Acquisition [Line Items]

Consideration received on sale of assets

$ 3,300,000,000

Proceeds from sale of business

3,200,000,000

Cheese Transaction | Disposal Group, Disposed of by Sale, Not Discontinued Operations

Business Acquisition [Line Items]

Consideration related to perpetual licenses

1,600,000,000

Cheese Transaction, Disposal Group | Disposal Group, held-for-sale, not discontinued operations

Business Acquisition [Line Items]

Consideration related to perpetual licenses

$ 141,000,000

Nuts Transaction | Disposal Group, held-for-sale, not discontinued operations

Business Acquisition [Line Items]

Consideration received on sale of assets

$ 3,400,000,000

Number of manufacturing facilities | manufacturingFacilities

3

Net assets of disposal group

$ 3,400,000,000

Goodwill impairment losses

230,000,000

Pre-tax gain (loss) on disposition of business

(19,000,000)

Heinz India

Business Acquisition [Line Items]

Proceeds from sale of business

$ 655,000,000

₨ 46

Sale of stock, percentage of ownership before transaction

100.00%

100.00%

Number of third-parties | third-party

2

2

Tax indemnity liabilities

$ 48,000,000

41,000,000

Heinz India | Other current liabilities

Business Acquisition [Line Items]

Tax indemnity liabilities

14,000,000

Heinz India | Other non-current liabilities

Business Acquisition [Line Items]

Tax indemnity liabilities

27,000,000

Heinz India | Other expense/(income)

Business Acquisition [Line Items]

Pre-tax gain (loss) on disposition of business

$ (48,000,000)

Just Spices Acquisition

Business Acquisition [Line Items]

Percent acquired

85.00%

Total consideration paid

243,000,000

€ 214

Goodwill

$ 167,000,000

Assan Foods Acquisition

Business Acquisition [Line Items]

Total consideration paid | R$

R$ 70

Goodwill

$ 51,000,000

$ 64,000,000

Business combination, consideration transferred | R$

R$ 79

Business combination, contingent consideration, liability

$ 9,000,000

Hemmer Acquisition | Forecast

Business Acquisition [Line Items]

Total consideration paid

$ 252,000,000

R$ 1200

Acquisitions

Business Acquisition [Line Items]

Deal costs

$ 0

Acquisition and Divestitures -

Acquisition and Divestitures - Just Spices Purchase Price Allocation to Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Millions	Mar. 26, 2022	Jan. 18, 2022	Dec. 25, 2021
Business Acquisition [Line Items]
Goodwill	$ 31,440		$ 31,296
Just Spices Acquisition
Business Acquisition [Line Items]
Cash		$ 2
Trade receivables		4
Inventories		7
Other current assets		9
Property, plant and equipment, net		1
Identifiable intangible assets		172
Trade payables		(10)
Other current liabilities		(12)
Other non-current liabilities		(54)
Net assets acquired		119
Redeemable noncontrolling interest		(43)
Goodwill		167
Total consideration		$ 243

Acquisitions and Divestitures_3

Acquisitions and Divestitures - Just Spices Purchase Price Allocation to Identifiable Intangible Assets Acquired (Details) - Just Spices Acquisition $ in Millions	Jan. 18, 2022USD ($)
Business Acquisition [Line Items]
Identifiable intangible assets	$ 172
Definite-lived trademarks
Business Acquisition [Line Items]
Identifiable intangible assets	$ 72
Definite-lived intangible asset, weighted average life	10 years
Customer-related assets
Business Acquisition [Line Items]
Identifiable intangible assets	$ 100
Definite-lived intangible asset, weighted average life	15 years

Acquisitions and Divestitures_4

Acquisitions and Divestitures - Assan Foods Purchase Price Allocation to Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 26, 2022	Dec. 25, 2021	Oct. 01, 2021
Business Acquisition [Line Items]
Goodwill	$ 31,440	$ 31,296
Assan Foods Acquisition
Business Acquisition [Line Items]
Cash	4		$ 4
Adjustments, cash	0
Trade receivables	24		24
Adjustments, trade receivables	0
Inventories	26		26
Adjustments, inventory	0
Other current assets	2		2
Adjustments, other current assets	0
Property, plant and equipment, net	12		12
Adjustments, property, plant, and equipment	0
Identifiable intangible assets	16		0
Adjustments, intangibles	16
Other non-current assets	5		4
Adjustments, other non-current assets	1
Short-term debt	(21)		(21)
Adjustments, short-term debt	0
Current portion of long-term debt	(5)		(5)
Adjustments, current portion of long-term debt	0
Trade payables	(25)		(25)
Adjustments, trade payables	0
Other current liabilities	(2)		(2)
Adjustments, other current liabilities	0
Long-term debt	(4)		(4)
Adjustments, long-term debt	0
Other non-current liabilities	(4)		0
Adjustments, other non-current liabilities	(4)
Net assets acquired	28		15
Adjustments, net assets acquired	13
Goodwill	51		64
Adjustments, goodwill	(13)
Total consideration	79		$ 79
Adjustments, consideration transferred	$ 0

Acquisitions and Divestitures_5

Acquisitions and Divestitures - Assan Foods Purchase Price Allocation to Identifiable Intangible Assets Acquired (Details) - Assan Foods Acquisition - USD ($) $ in Millions	Mar. 26, 2022	Oct. 01, 2021
Business Acquisition [Line Items]
Identifiable intangible assets	$ 16	$ 0
Definite-lived trademarks
Business Acquisition [Line Items]
Identifiable intangible assets	$ 13
Definite-lived intangible asset, weighted average life	10 years
Customer-related assets
Business Acquisition [Line Items]
Identifiable intangible assets	$ 3
Definite-lived intangible asset, weighted average life	10 years

Acquisitions and Divestitures_6

Acquisitions and Divestitures - Assets and Liabilities Held for Sale by Major Class (Details) - USD ($) $ in Millions	Mar. 26, 2022	Dec. 25, 2021
Business Combination and Asset Acquisition [Abstract]
Inventories	$ 3	$ 5
Property, plant and equipment, net	85	5
Intangible assets, net	1	1
Total assets held for sale	$ 89	$ 11

Restructuring Activities - Addi

Restructuring Activities - Additional Information (Details) $ in Millions	3 Months Ended
	Mar. 26, 2022USD ($)employee	Mar. 27, 2021USD ($)
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, incurred cost (credit)	$ 19	$ 18
Restructuring Activities
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, number of positions eliminated | employee	330
Restructuring and related cost, expected number of positions eliminated | employee	200
Restructuring and related cost, incurred cost (credit)	$ 19	$ 18
Restructuring Activities | Severance and Employee Benefit Costs
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, incurred cost (credit)	10
Restructuring Activities | Asset-Related Costs
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, incurred cost (credit)	4
Restructuring Activities | Other Implementation Costs
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, incurred cost (credit)	$ 5

Restructuring Activities - Rest

Restructuring Activities - Restructuring Reserve Roll-forward (Details) - Restructuring Activities $ in Millions	3 Months Ended
	Mar. 26, 2022USD ($)
Restructuring Reserve [Roll Forward]
Beginning balance	$ 43
Charges/(credits)	10
Cash payments	(15)
Ending balance	38
Severance and Employee Benefit Costs
Restructuring Reserve [Roll Forward]
Beginning balance	27
Charges/(credits)	10
Cash payments	(14)
Ending balance	23
Other Exit Costs
Restructuring Reserve [Roll Forward]
Beginning balance	16
Charges/(credits)	0
Cash payments	(1)
Ending balance	$ 15

Restructuring Activities - Re_2

Restructuring Activities - Restructuring Costs by Type and Income Statement Location (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 26, 2022	Mar. 27, 2021
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, incurred cost (credit)	$ 19	$ 18
Severance and Employee Benefit Costs | Cost of products sold
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, incurred cost (credit)	(3)	3
Severance and Employee Benefit Costs | SG&A
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, incurred cost (credit)	13	1
Asset-Related Costs | Cost of products sold
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, incurred cost (credit)	4	0
Other Costs | Cost of products sold
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, incurred cost (credit)	3	0
Other Costs | SG&A
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, incurred cost (credit)	$ 2	$ 14

Restructuring Activities - Re_3

Restructuring Activities - Restructuring Costs Excluded from Segments (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 26, 2022	Mar. 27, 2021
Segment Reporting Information [Line Items]
Restructuring and related cost, incurred cost (credit)	$ 19	$ 18
General corporate expenses
Segment Reporting Information [Line Items]
Restructuring and related cost, incurred cost (credit)	1	13
United States | Operating Segments
Segment Reporting Information [Line Items]
Restructuring and related cost, incurred cost (credit)	18	1
International | Operating Segments
Segment Reporting Information [Line Items]
Restructuring and related cost, incurred cost (credit)	(2)	4
Canada | Operating Segments
Segment Reporting Information [Line Items]
Restructuring and related cost, incurred cost (credit)	$ 2	$ 0

Restricted Cash - Reconciliatio

Restricted Cash - Reconciliation from Cash and Cash Equivalents to Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in Millions	Mar. 26, 2022	Dec. 25, 2021	Mar. 27, 2021	Dec. 26, 2020
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]
Cash and cash equivalents	$ 2,978	$ 3,445
Restricted cash included in other current assets	1	0
Restricted cash included in other non-current assets	1	1
Cash, cash equivalents, and restricted cash	$ 2,980	$ 3,446	$ 2,361	$ 3,418

Inventories Components of Inven

Inventories Components of Inventories (Details) - USD ($) $ in Millions	Mar. 26, 2022	Dec. 25, 2021
Inventory Disclosure [Abstract]
Packaging and ingredients	$ 671	$ 571
Spare parts	211	208
Work in process	270	268
Finished products	1,941	1,682
Inventories	$ 3,093	$ 2,729

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Changes in the Carrying Amount of Goodwill by Segment (Details) $ in Millions	3 Months Ended
	Mar. 26, 2022USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 31,296
Acquisitions	167
Measurement period adjustments	(4)
Translation adjustments and other	(19)
Ending balance	31,440
Assan Foods Acquisition and BR Spices Acquisition
Goodwill [Roll Forward]
Measurement period adjustments	15
United States
Goodwill [Roll Forward]
Beginning balance	26,745
Acquisitions	0
Measurement period adjustments	0
Translation adjustments and other	0
Ending balance	26,745
International
Goodwill [Roll Forward]
Beginning balance	3,054
Acquisitions	167
Measurement period adjustments	(4)
Translation adjustments and other	(60)
Ending balance	3,157
Canada
Goodwill [Roll Forward]
Beginning balance	1,497
Acquisitions	0
Measurement period adjustments	0
Translation adjustments and other	41
Ending balance	$ 1,538

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Goodwill Additional Information (Details) $ in Millions	3 Months Ended			12 Months Ended
	Mar. 26, 2022USD ($)goodwill_reporting_unit	Dec. 25, 2021USD ($)	Mar. 27, 2021USD ($)goodwill_reporting_unit	Dec. 25, 2021USD ($)goodwill_reporting_unit	Jan. 18, 2022USD ($)
Goodwill [Line Items]
Goodwill	$ 31,440	$ 31,296		$ 31,296
Goodwill, measurement period adjustments	(4)
Goodwill impairment losses	$ (11)	53	$ 230
Number of reporting units | goodwill_reporting_unit	14
Goodwill, impaired, accumulated impairment loss	$ (10,900)	(10,900)		(10,900)
Just Spices Acquisition
Goodwill [Line Items]
Goodwill					$ 167
Assan Foods Acquisition and BR Spices Acquisition
Goodwill [Line Items]
Goodwill, measurement period adjustments	15
United States
Goodwill [Line Items]
Goodwill	26,745	26,745		26,745
Goodwill, measurement period adjustments	0
Reclassified to assets held for sale			$ (1,700)
Canada
Goodwill [Line Items]
Goodwill	1,538	1,497		1,497
Goodwill, measurement period adjustments	$ 0
Reporting unit, goodwill balance held
Goodwill [Line Items]
Number of reporting units | goodwill_reporting_unit	9
Reporting unit, goodwill balance held | 20% or less
Goodwill [Line Items]
Goodwill		28,300		$ 28,300
Number of reporting units | goodwill_reporting_unit				6
Reporting unit, goodwill balance held | 20 to 50%
Goodwill [Line Items]
Goodwill		2,200		$ 2,200
Number of reporting units | goodwill_reporting_unit				2
Reporting unit, goodwill balance held | In Excess of 50%
Goodwill [Line Items]
Goodwill		$ 961		$ 961
Number of reporting units | goodwill_reporting_unit				1
Four Reporting Units
Goodwill [Line Items]
Number of reporting units | goodwill_reporting_unit			4
Four Reporting Units | 20% or less
Goodwill [Line Items]
Percentage of fair value in excess of carrying amount		20.00%		20.00%
Four Reporting Units | 20 to 50% | Minimum
Goodwill [Line Items]
Percentage of fair value in excess of carrying amount		20.00%		20.00%
Four Reporting Units | 20 to 50% | Maximum
Goodwill [Line Items]
Percentage of fair value in excess of carrying amount		50.00%		50.00%
Reporting Unit Nine | In Excess of 50%
Goodwill [Line Items]
Percentage of fair value in excess of carrying amount		50.00%		50.00%
Canada Foodservice | Canada
Goodwill [Line Items]
Goodwill	$ 158
Reporting Units With 20% Or Less Excess Fair Value Over Carrying Amount
Goodwill [Line Items]
Percentage of fair value in excess of carrying amount		20.00%		20.00%
Reporting Units With More Than 20% Excess Fair Value Over Carrying Amount
Goodwill [Line Items]
Percentage of fair value in excess of carrying amount		20.00%		20.00%

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets - Changes in the Carrying Amount of Indefinite-Lived Intangible Assets (Details) $ in Millions	3 Months Ended
	Mar. 26, 2022USD ($)
Indefinite-lived Intangible Assets [Roll Forward]
Beginning balance	$ 39,419
Translation adjustments	(20)
Ending balance	$ 39,399

Goodwill and Intangible Asset_6

Goodwill and Intangible Assets - Indefinite-Lived Intangible Assets Additional Information (Details) - USD ($) $ in Millions	Mar. 26, 2022	Dec. 25, 2021
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	$ 39,399	$ 39,419
Brand, percentage of fair value in excess of carrying value		20.00%
Impaired Brands | 20% or less
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets		$ 21,300
Percentage of fair value in excess of carrying amount		20.00%
Impaired Brands | 20 to 50%
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets		$ 6,500
Impaired Brands | In Excess of 50%
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets		$ 11,800
Percentage of fair value in excess of carrying amount		50.00%
Impaired Brands | Minimum | 20 to 50%
Indefinite-lived Intangible Assets [Line Items]
Percentage of fair value in excess of carrying amount		20.00%
Impaired Brands | Maximum | 20 to 50%
Indefinite-lived Intangible Assets [Line Items]
Percentage of fair value in excess of carrying amount		50.00%

Goodwill and Intangible Asset_7

Goodwill and Intangible Assets - Summary of Definite-Lived Intangible Assets (Details) - USD ($) $ in Millions	Mar. 26, 2022	Dec. 25, 2021
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Gross	$ 5,904	$ 5,725
Accumulated Amortization	(1,663)	(1,602)
Net	4,241	4,123
Definite-lived trademarks
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Gross	2,172	2,091
Accumulated Amortization	(581)	(556)
Net	1,591	1,535
Customer-related assets
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Gross	3,718	3,617
Accumulated Amortization	(1,079)	(1,040)
Net	2,639	2,577
Other
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Gross	14	17
Accumulated Amortization	(3)	(6)
Net	$ 11	$ 11

Goodwill and Intangible Asset_8

Goodwill and Intangible Assets - Definite Lived Intangible Assets Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 26, 2022	Mar. 27, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 64	$ 61
Finite-lived Intangible Assets Acquired	193
Amortization of definite-lived intangible assets, current year	260
Amortization of definite-lived intangible assets, year one	260
Amortization of definite-lived intangible assets, year two	250
Amortization of definite-lived intangible assets, year four	250
Amortization of definite-lived intangible assets, year three	250
Amortization of definite-lived intangible assets, year five	$ 250

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 25, 2022	Mar. 26, 2022	Mar. 27, 2021
Income Tax Contingency [Line Items]
Effective tax rate		19.60%	19.30%
Effective tax rate, non-deductible goodwill impairments, percent			8.20%
Provision for/(benefit from) income taxes		$ 190	$ 136
Cheese Transaction, Disposal Group | Forecast
Income Tax Contingency [Line Items]
Provision for/(benefit from) income taxes	$ 620

Employees' Stock Incentive Pl_3

Employees' Stock Incentive Plans - Schedule of Stock Option Activity and Related Information (Details)	3 Months Ended
	Mar. 26, 2022$ / sharesshares
Number of Stock Options
Beginning balance (in shares) | shares	11,778,068
Granted (in shares) | shares	940,822
Forfeited (in shares) | shares	(322,764)
Exercised (in shares) | shares	(1,154,021)
Ending balance (in shares) | shares	11,242,105
Weighted Average Exercise Price (per share)
Options outstanding at period start, weighted average exercise price (in dollars per share) | $ / shares	$ 45.43
Options granted, weighted average exercise price (in dollars per share) | $ / shares	38.68
Options forfeited, weighted average exercise price (in dollars per share) | $ / shares	58.96
Options exercised, weighted average exercise price (in dollars per share) | $ / shares	26.60
Options outstanding at period end, weighted average exercise price (in dollars per share) | $ / shares	$ 46.41

Employees' Stock Incentive Pl_4

Employees' Stock Incentive Plans - Additional Information (Details) $ in Millions	3 Months Ended
	Mar. 26, 2022USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options, exercises in period, intrinsic value	$ 13
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity instruments other than options, vested in period, fair value	$ 16

Employees' Stock Incentive Pl_5

Employees' Stock Incentive Plans - Schedule of RSU Activity and Related Information (Details) - RSUs	3 Months Ended
	Mar. 26, 2022$ / sharesshares
Number of Units
Beginning balance (in shares) | shares	12,476,390
Granted (in shares) | shares	2,706,762
Forfeited (in shares) | shares	(723,457)
Vested (in shares) | shares	(428,928)
Ending balance (in shares) | shares	14,030,767
Weighted Average Grant Date Fair Value (per share)
Outstanding at period start, weighted average grant date fair value (in dollars per share) | $ / shares	$ 33.08
Granted, weighted average grant date fair value (in dollars per share) | $ / shares	38
Forfeited, weighted average grant date fair value (in dollars per share) | $ / shares	32.36
Vested, weighted average grant date fair value (in dollars per share) | $ / shares	74.86
Outstanding at period end, weighted average grant date fair value (in dollars per share) | $ / shares	$ 32.88

Employees' Stock Incentive Pl_6

Employees' Stock Incentive Plans - Schedule of PSU Activity and Related Information (Details) - PSUs	3 Months Ended
	Mar. 26, 2022$ / sharesshares
Number of Units
Beginning balance (in shares) | shares	5,319,980
Granted (in shares) | shares	1,736,551
Forfeited (in shares) | shares	(246,420)
Vested (in shares) | shares	(95,896)
Ending balance (in shares) | shares	6,714,215
Weighted Average Grant Date Fair Value (per share)
Outstanding at period start, weighted average grant date fair value (in dollars per share) | $ / shares	$ 27.24
Granted, weighted average grant date fair value (in dollars per share) | $ / shares	34.43
Forfeited, weighted average grant date fair value (in dollars per share) | $ / shares	30.13
Vested, weighted average grant date fair value (in dollars per share) | $ / shares	23.46
Outstanding at period end, weighted average grant date fair value (in dollars per share) | $ / shares	$ 28.70

Postemployment Benefits Pension

Postemployment Benefits Pension Plans - Net Cost/(Benefit) (Details) - Pension Plans - USD ($) $ in Millions	3 Months Ended
	Mar. 26, 2022	Mar. 27, 2021
U.S. Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 1	$ 2
Interest cost	24	22
Expected return on plan assets	(48)	(45)
Special/contractual termination benefits	0	4
Net postretirement cost/(benefit)	(23)	(17)
Non-U.S. Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	4	4
Interest cost	10	7
Expected return on plan assets	(19)	(23)
Special/contractual termination benefits	0	0
Net postretirement cost/(benefit)	$ (5)	$ (12)

Postemployment Benefits - Addit

Postemployment Benefits - Additional Information (Details) - USD ($)	3 Months Ended
	Mar. 26, 2022	Mar. 27, 2021
Pension Plans | U.S. Plans
Defined Benefit Plan Disclosure [Line Items]
Special/contractual termination benefits		$ 4,000,000
Employer contributions	$ 0
Estimated future employer contributions	0
Pension Plans | Non-U.S. Plans
Defined Benefit Plan Disclosure [Line Items]
Employer contributions	3,000,000
Estimated future employer contributions	9,000,000
Postretirement Plans
Defined Benefit Plan Disclosure [Line Items]
Employer contributions	4,000,000
Estimated future employer contributions	$ 9,000,000

Postemployment Benefits - Postr

Postemployment Benefits - Postretirement Benefit Plans Net Cost/(Benefit) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 26, 2022	Mar. 27, 2021
Defined Benefit Plan Disclosure [Line Items]
Amortization of postemployment benefit plans prior service costs/(credits)	$ (4)	$ (2)
Postretirement Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	1	1
Interest cost	5	5
Expected return on plan assets	(14)	(12)
Amortization of postemployment benefit plans prior service costs/(credits)	(4)	(2)
Amortization of unrecognized losses/(gains)	(4)	(4)
Net postretirement cost/(benefit)	$ (16)	$ (12)

Financial Instruments - Schedul

Financial Instruments - Schedule of Notional Values of Outstanding Derivatives (Details) - USD ($) $ in Millions	Mar. 26, 2022	Dec. 25, 2021
Commodity contracts
Derivative [Line Items]
Derivative, notional amount	$ 562	$ 592
Foreign exchange contracts
Derivative [Line Items]
Derivative, notional amount	4,352	3,359
Cross-currency contracts
Derivative [Line Items]
Derivative, notional amount	$ 7,239	$ 7,239

Financial Instruments - Sched_2

Financial Instruments - Schedule of Derivative Fair Values (Details) - USD ($) $ in Millions	Mar. 26, 2022	Dec. 25, 2021
Derivatives Fair Value [Line Items]
Assets	$ 552	$ 329
Liabilities	388	271
Foreign exchange contracts | Designated as hedging instrument
Derivatives Fair Value [Line Items]
Assets	24	24
Liabilities	26	19
Foreign exchange contracts | Not designated as hedging instrument
Derivatives Fair Value [Line Items]
Assets	54	15
Liabilities	27	18
Cross-currency contracts | Designated as hedging instrument
Derivatives Fair Value [Line Items]
Assets	342	247
Liabilities	318	212
Commodity contracts | Not designated as hedging instrument
Derivatives Fair Value [Line Items]
Assets	132	43
Liabilities	17	22
Level 1
Derivatives Fair Value [Line Items]
Assets	125	41
Liabilities	17	17
Level 1 | Foreign exchange contracts | Designated as hedging instrument
Derivatives Fair Value [Line Items]
Assets	0	0
Liabilities	0	0
Level 1 | Foreign exchange contracts | Not designated as hedging instrument
Derivatives Fair Value [Line Items]
Assets	0	0
Liabilities	0	0
Level 1 | Cross-currency contracts | Designated as hedging instrument
Derivatives Fair Value [Line Items]
Assets	0	0
Liabilities	0	0
Level 1 | Commodity contracts | Not designated as hedging instrument
Derivatives Fair Value [Line Items]
Assets	125	41
Liabilities	17	17
Level 2
Derivatives Fair Value [Line Items]
Assets	427	288
Liabilities	371	254
Level 2 | Foreign exchange contracts | Other current assets
Derivatives Fair Value [Line Items]
Assets	69	31
Level 2 | Foreign exchange contracts | Other non-current assets
Derivatives Fair Value [Line Items]
Assets	9	8
Level 2 | Foreign exchange contracts | Other current liabilities
Derivatives Fair Value [Line Items]
Liabilities	46	33
Level 2 | Foreign exchange contracts | Other non-current liabilities
Derivatives Fair Value [Line Items]
Liabilities	7	4
Level 2 | Foreign exchange contracts | Designated as hedging instrument
Derivatives Fair Value [Line Items]
Assets	24	24
Liabilities	26	19
Level 2 | Foreign exchange contracts | Not designated as hedging instrument
Derivatives Fair Value [Line Items]
Assets	54	15
Liabilities	27	18
Level 2 | Cross-currency contracts | Other current assets
Derivatives Fair Value [Line Items]
Assets	83	74
Level 2 | Cross-currency contracts | Other non-current assets
Derivatives Fair Value [Line Items]
Assets	259	173
Level 2 | Cross-currency contracts | Other current liabilities
Derivatives Fair Value [Line Items]
Liabilities	61	42
Level 2 | Cross-currency contracts | Other non-current liabilities
Derivatives Fair Value [Line Items]
Liabilities	257	170
Level 2 | Cross-currency contracts | Designated as hedging instrument
Derivatives Fair Value [Line Items]
Assets	342	247
Liabilities	318	212
Level 2 | Commodity contracts | Not designated as hedging instrument
Derivatives Fair Value [Line Items]
Assets	7	2
Liabilities	$ 0	$ 5

Financial Instruments - Additio

Financial Instruments - Additional Information (Details) € in Millions, £ in Millions, $ in Millions, ¥ in Billions, $ in Billions	3 Months Ended
	Mar. 26, 2022USD ($)	Mar. 27, 2021USD ($)	Mar. 26, 2022EUR (€)	Mar. 26, 2022GBP (£)	Mar. 26, 2022CAD ($)	Mar. 26, 2022JPY (¥)	Dec. 25, 2021USD ($)
Derivative [Line Items]
Derivative, collateral, obligation to return cash	$ 119						$ 155
Derivative, collateral, right to reclaim cash	119						155
Collateral posted related to commodity derivative margin requirements, liability	$ 72						$ 12
Cross-currency contracts
Derivative [Line Items]
Maximum length of time hedged in cash flow hedge	7 years
Foreign exchange contracts
Derivative [Line Items]
Maximum length of time hedged in cash flow hedge	2 years
Designated as hedging instrument | Debt | Net Investment Hedging
Derivative [Line Items]
Non-derivative instruments, loss (gain) recognized in other comprehensive income (loss), net	$ (32)	$ (18)
Designated as hedging instrument | Debt | Euro Member Countries, Euro | Net Investment Hedging
Derivative [Line Items]
Derivative, amount of hedged item | €			€ 650
Designated as hedging instrument | Debt | United Kingdom, Pounds | Net Investment Hedging
Derivative [Line Items]
Derivative, amount of hedged item | £				£ 400
Designated as hedging instrument | Cross-currency contracts | Euro Member Countries, Euro | Net Investment Hedging
Derivative [Line Items]
Derivative asset, notional amount	2,100		€ 1,900
Designated as hedging instrument | Cross-currency contracts | United Kingdom, Pounds | Net Investment Hedging
Derivative [Line Items]
Derivative liability, notional amount	900			£ 677
Designated as hedging instrument | Cross-currency contracts | Canada, Dollars | Net Investment Hedging
Derivative [Line Items]
Derivative liability, notional amount	1,100				$ 1.4
Designated as hedging instrument | Cross-currency contracts | Japan, Yen | Net Investment Hedging
Derivative [Line Items]
Derivative asset, notional amount	85					¥ 9.6
Designated as hedging instrument | Foreign exchange contracts | Euro Member Countries, Euro | Net Investment Hedging
Derivative [Line Items]
Derivative liability, notional amount	82
Designated as hedging instrument | Foreign exchange contracts | China, Yuan Renminbi | Net Investment Hedging
Derivative [Line Items]
Derivative liability, notional amount	116
Designated as hedging instrument | Other contract | Euro Member Countries, Euro | Net Investment Hedging
Derivative [Line Items]
Derivative, amount of hedged item	43
Designated as hedging instrument | Other contract | China, Yuan Renminbi | Net Investment Hedging
Derivative [Line Items]
Derivative, amount of hedged item	98
Not designated as hedging instrument | Foreign exchange contracts | Hemmer Acquisition
Derivative [Line Items]
Net gains/(losses) on derivatives, reclassified to net income	$ 38

Financial Instruments - Derivat

Financial Instruments - Derivative Impact on Statements of Other Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 26, 2022	Mar. 27, 2021
Derivative [Line Items]
Other comprehensive income (loss), derivatives, gain (loss), before reclassification and tax	$ 6	$ (45)
Cash Flow Hedging | Net sales | Foreign exchange contracts
Derivative [Line Items]
Gains/(losses) recognized in other comprehensive income (loss) on cash flow hedges, before tax	0	(1)
Cash Flow Hedging | Cost of products sold | Foreign exchange contracts
Derivative [Line Items]
Gains/(losses) recognized in other comprehensive income (loss) on cash flow hedges, before tax	(9)	(23)
Cash Flow Hedging | Other expense/(income) | Cross-currency contracts
Derivative [Line Items]
Gains/(losses) recognized in other comprehensive income (loss) on cash flow hedges, before tax	(31)	(15)
Amounts excluded from the effectiveness assessment of cash flow hedges, before tax	8	7
Cash Flow Hedging | Interest expense | Cross-currency contracts
Derivative [Line Items]
Gains/(losses) recognized in other comprehensive income (loss) on cash flow hedges, before tax	(7)	(6)
Net Investment Hedging | Other expense/(income) | Foreign exchange contracts
Derivative [Line Items]
Gains/(losses) recognized in other comprehensive income (loss) on net investment hedges, before tax	(1)	1
Net Investment Hedging | Other expense/(income) | Cross-currency contracts
Derivative [Line Items]
Gains/(losses) recognized in other comprehensive income (loss) on net investment hedges, before tax	35	(14)
Net Investment Hedging | Interest expense | Cross-currency contracts
Derivative [Line Items]
Amounts excluded from the effectiveness assessment of net investment hedges, before tax	$ 11	$ 6

Financial Instruments - Deriv_2

Financial Instruments - Derivative Impact on Statements of Income (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 26, 2022	Mar. 27, 2021
Total amounts presented in the condensed consolidated statements of income in which the following effects were recorded
Cost of products sold	$ 4,114	$ 4,193
Interest expense	242	415
Other expense/(income)	(98)	(30)
Cost of products sold
Derivatives designated as hedging instruments:
Net gains/(losses) on derivatives, reclassified to net income	132	43
Derivatives not designated as hedging instruments:
Net gains/(losses) on derivatives, reclassified to net income	132	43
Interest expense
Derivatives designated as hedging instruments:
Net gains/(losses) on derivatives, reclassified to net income	3	(2)
Derivatives not designated as hedging instruments:
Net gains/(losses) on derivatives, reclassified to net income	3	(2)
Other expense/(income)
Derivatives designated as hedging instruments:
Net gains/(losses) on derivatives, reclassified to net income	11	(42)
Derivatives not designated as hedging instruments:
Net gains/(losses) on derivatives, reclassified to net income	11	(42)
Not designated as hedging instrument | Cost of products sold | Foreign exchange contracts
Derivatives designated as hedging instruments:
Net gains/(losses) on derivatives, reclassified to net income	0	0
Derivatives not designated as hedging instruments:
Net gains/(losses) on derivatives, reclassified to net income	0	0
Not designated as hedging instrument | Cost of products sold | Commodity contracts
Derivatives designated as hedging instruments:
Net gains/(losses) on derivatives, reclassified to net income	139	50
Derivatives not designated as hedging instruments:
Net gains/(losses) on derivatives, reclassified to net income	139	50
Not designated as hedging instrument | Interest expense | Foreign exchange contracts
Derivatives designated as hedging instruments:
Net gains/(losses) on derivatives, reclassified to net income	0	0
Derivatives not designated as hedging instruments:
Net gains/(losses) on derivatives, reclassified to net income	0	0
Not designated as hedging instrument | Interest expense | Commodity contracts
Derivatives designated as hedging instruments:
Net gains/(losses) on derivatives, reclassified to net income	0	0
Derivatives not designated as hedging instruments:
Net gains/(losses) on derivatives, reclassified to net income	0	0
Not designated as hedging instrument | Other expense/(income) | Foreign exchange contracts
Derivatives designated as hedging instruments:
Net gains/(losses) on derivatives, reclassified to net income	38	(5)
Derivatives not designated as hedging instruments:
Net gains/(losses) on derivatives, reclassified to net income	38	(5)
Not designated as hedging instrument | Other expense/(income) | Commodity contracts
Derivatives designated as hedging instruments:
Net gains/(losses) on derivatives, reclassified to net income	0	0
Derivatives not designated as hedging instruments:
Net gains/(losses) on derivatives, reclassified to net income	0	0
Cash Flow Hedging | Designated as hedging instrument | Cost of products sold | Foreign exchange contracts
Derivatives designated as hedging instruments:
Net gains/(losses) on derivatives, reclassified to net income	(6)	(7)
Net gain/(loss) on derivatives, excluded component, reclassified to net income	(1)	0
Derivatives not designated as hedging instruments:
Net gains/(losses) on derivatives, reclassified to net income	(6)	(7)
Cash Flow Hedging | Designated as hedging instrument | Cost of products sold | Cross-currency contracts
Derivatives designated as hedging instruments:
Net gains/(losses) on derivatives, reclassified to net income	0	0
Net gain/(loss) on derivatives, excluded component, reclassified to net income	0	0
Derivatives not designated as hedging instruments:
Net gains/(losses) on derivatives, reclassified to net income	0	0
Cash Flow Hedging | Designated as hedging instrument | Interest expense | Foreign exchange contracts
Derivatives designated as hedging instruments:
Net gains/(losses) on derivatives, reclassified to net income	0	0
Net gain/(loss) on derivatives, excluded component, reclassified to net income	0	0
Derivatives not designated as hedging instruments:
Net gains/(losses) on derivatives, reclassified to net income	0	0
Cash Flow Hedging | Designated as hedging instrument | Interest expense | Cross-currency contracts
Derivatives designated as hedging instruments:
Net gains/(losses) on derivatives, reclassified to net income	(7)	(6)
Net gain/(loss) on derivatives, excluded component, reclassified to net income	0	0
Derivatives not designated as hedging instruments:
Net gains/(losses) on derivatives, reclassified to net income	(7)	(6)
Cash Flow Hedging | Designated as hedging instrument | Other expense/(income) | Foreign exchange contracts
Derivatives designated as hedging instruments:
Net gains/(losses) on derivatives, reclassified to net income	0	0
Net gain/(loss) on derivatives, excluded component, reclassified to net income	0	0
Derivatives not designated as hedging instruments:
Net gains/(losses) on derivatives, reclassified to net income	0	0
Cash Flow Hedging | Designated as hedging instrument | Other expense/(income) | Cross-currency contracts
Derivatives designated as hedging instruments:
Net gains/(losses) on derivatives, reclassified to net income	(35)	(43)
Net gain/(loss) on derivatives, excluded component, reclassified to net income	8	6
Derivatives not designated as hedging instruments:
Net gains/(losses) on derivatives, reclassified to net income	(35)	(43)
Net Investment Hedging | Designated as hedging instrument | Cost of products sold | Foreign exchange contracts
Derivatives designated as hedging instruments:
Net gain/(loss) on derivatives, excluded component, reclassified to net income	0	0
Net Investment Hedging | Designated as hedging instrument | Cost of products sold | Cross-currency contracts
Derivatives designated as hedging instruments:
Net gain/(loss) on derivatives, excluded component, reclassified to net income	0	0
Net Investment Hedging | Designated as hedging instrument | Interest expense | Foreign exchange contracts
Derivatives designated as hedging instruments:
Net gain/(loss) on derivatives, excluded component, reclassified to net income	1	0
Net Investment Hedging | Designated as hedging instrument | Interest expense | Cross-currency contracts
Derivatives designated as hedging instruments:
Net gain/(loss) on derivatives, excluded component, reclassified to net income	9	4
Net Investment Hedging | Designated as hedging instrument | Other expense/(income) | Foreign exchange contracts
Derivatives designated as hedging instruments:
Net gain/(loss) on derivatives, excluded component, reclassified to net income	0	0
Net Investment Hedging | Designated as hedging instrument | Other expense/(income) | Cross-currency contracts
Derivatives designated as hedging instruments:
Net gain/(loss) on derivatives, excluded component, reclassified to net income	$ 0	$ 0

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income/(Losses) - Components of and Changes in Accumulated Other Comprehensive Income/(Losses) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 26, 2022	Mar. 27, 2021
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 49,298
Total other comprehensive income/(loss)	12
Ending balance	49,644
Foreign currency translation adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(2,285)
Other comprehensive income/(loss) before reclassifications	(32)	$ 61
Total other comprehensive income/(loss)	21
Ending balance	(2,264)
Net investment hedge adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Other comprehensive income/(loss) before reclassifications	52	5
Amounts excluded from effectiveness assessment	9	5
Reclassifications from AOCI	(8)	(3)
Net postemployment benefit plan adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	364
Other comprehensive income/(loss) before reclassifications	0	2
Reclassifications from AOCI	(4)	(6)
Total other comprehensive income/(loss)	(4)
Ending balance	360
Net cash flow hedge adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	97
Other comprehensive income/(loss) before reclassifications	(34)	(29)
Amounts excluded from effectiveness assessment	7	7
Reclassifications from AOCI	22	$ 27
Total other comprehensive income/(loss)	(5)
Ending balance	92
AOCI Attributable to Parent
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(1,824)
Ending balance	$ (1,812)

Accumulated Other Comprehensi_4

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
	Mar. 26, 2022	Mar. 27, 2021
Foreign currency translation adjustments
OCI Before Reclassifications
Before Tax Amount	$ (32)	$ 61
Tax	0	0
Net of Tax Amount	(32)	61
Net investment hedge adjustments
OCI Before Reclassifications
Before Tax Amount	66	5
Tax	(14)	0
Net of Tax Amount	52	5
Amounts Excluded from Effectiveness Assessment
Before Tax Amount	11	6
Tax	(2)	(1)
Net of Tax Amount	9	5
Reclassifications
Before Tax Amount	(10)	(4)
Tax	2	1
Net of Tax Amount	(8)	(3)
Net cash flow hedge adjustments
OCI Before Reclassifications
Before Tax Amount	(47)	(45)
Tax	13	16
Net of Tax Amount	(34)	(29)
Amounts Excluded from Effectiveness Assessment
Before Tax Amount	8	7
Tax	(1)	0
Net of Tax Amount	7	7
Reclassifications
Before Tax Amount	41	50
Tax	(19)	(23)
Net of Tax Amount	22	27
Net postemployment benefit plan adjustments
OCI Before Reclassifications
Before Tax Amount	0	2
Tax	0	0
Net of Tax Amount	0	2
Reclassifications
Before Tax Amount	(8)	(7)
Tax	4	1
Net of Tax Amount	$ (4)	$ (6)

Accumulated Other Comprehensi_5

Accumulated Other Comprehensive Income/(Losses) - Amounts Reclassified from Accumulated Other Comprehensive Income/(Losses) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 26, 2022	Mar. 27, 2021
Reclassification Adjustment out of Accumulated Other Comprehensive Income/(Losses) [Line Items]
Interest expense	$ 242	$ 415
Cost of products sold	4,114	4,193
Other expense/(income)	(98)	(30)
Income/(loss) before income taxes	971	704
Provision for/(benefit from) income taxes	190	136
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	(781)	(568)
Reclassification out of Accumulated Other Comprehensive Income | Net investment hedge adjustments | Foreign exchange contracts
Reclassification Adjustment out of Accumulated Other Comprehensive Income/(Losses) [Line Items]
Interest expense	(1)	0
Reclassification out of Accumulated Other Comprehensive Income | Net investment hedge adjustments | Cross-currency contracts
Reclassification Adjustment out of Accumulated Other Comprehensive Income/(Losses) [Line Items]
Interest expense	(9)	(4)
Reclassification out of Accumulated Other Comprehensive Income | Net cash flow hedge adjustments | Foreign exchange contracts
Reclassification Adjustment out of Accumulated Other Comprehensive Income/(Losses) [Line Items]
Cost of products sold	7	7
Reclassification out of Accumulated Other Comprehensive Income | Net cash flow hedge adjustments | Cross-currency contracts
Reclassification Adjustment out of Accumulated Other Comprehensive Income/(Losses) [Line Items]
Interest expense	7	6
Other expense/(income)	27	37
Reclassification out of Accumulated Other Comprehensive Income | Hedge adjustments
Reclassification Adjustment out of Accumulated Other Comprehensive Income/(Losses) [Line Items]
Income/(loss) before income taxes	(31)	(46)
Provision for/(benefit from) income taxes	(17)	(22)
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	14	24
Reclassification out of Accumulated Other Comprehensive Income | Net postemployment benefit plan adjustments
Reclassification Adjustment out of Accumulated Other Comprehensive Income/(Losses) [Line Items]
Income/(loss) before income taxes	8	7
Provision for/(benefit from) income taxes	4	1
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	(4)	(6)
Reclassification out of Accumulated Other Comprehensive Income | Amortization of unrecognized losses/(gains)
Reclassification Adjustment out of Accumulated Other Comprehensive Income/(Losses) [Line Items]
Other expense/(income)	(4)	(4)
Reclassification out of Accumulated Other Comprehensive Income | Amortization of prior service costs/(credits)
Reclassification Adjustment out of Accumulated Other Comprehensive Income/(Losses) [Line Items]
Other expense/(income)	(4)	(2)
Reclassification out of Accumulated Other Comprehensive Income | Settlement and curtailment losses/(gains)
Reclassification Adjustment out of Accumulated Other Comprehensive Income/(Losses) [Line Items]
Other expense/(income)	$ 0	$ (1)

Financing Arrangements - Additi

Financing Arrangements - Additional Information (Details) - USD ($) $ in Millions	Mar. 26, 2022	Dec. 25, 2021
Transfers and Servicing [Abstract]
Other liabilities, structured payables, current	$ 221	$ 215

Commitments, Contingencies an_2

Commitments, Contingencies and Debt - Debt Narrative (Details) - USD ($) $ in Millions	Mar. 09, 2021	Mar. 26, 2022	Feb. 28, 2021	Mar. 26, 2022	Mar. 27, 2021	Dec. 25, 2021
Debt Instrument [Line Items]
Debt prepayment and extinguishment costs				$ 0	$ 103
Repayments of long-term debt				9	1,014
Fair value of total debt		$ 22,500		22,500		$ 25,700
Carrying value of total debt		21,800		$ 21,800		$ 21,800
2021 Tender Offers, Senior Notes
Debt Instrument [Line Items]
Gain (loss) on extinguishment of debt					(106)
Debt prepayment and extinguishment costs					103
Write off of deferred debt issuance costs					2
Write off of unamortized debt discounts					$ 1
Senior Notes | Senior Notes Due July 2025
Debt Instrument [Line Items]
Interest rate	3.95%
Senior Notes | Senior Notes Due June 2026
Debt Instrument [Line Items]
Interest rate	3.00%
Senior Notes | Senior Notes Due June 2023
Debt Instrument [Line Items]
Interest rate	4.00%
Senior Notes | Senior Notes Due June 2022
Debt Instrument [Line Items]
Interest rate	3.50%
Senior Notes | Senior notes due in March 2022
Debt Instrument [Line Items]
Repayments of long-term debt		$ 6
Senior Notes | Senior notes due in February 2021
Debt Instrument [Line Items]
Repayments of long-term debt			$ 111
Senior Notes | Q1 2021 Tender Offer, Senior Notes
Debt Instrument [Line Items]
Amount repurchased	$ 900
Senior Notes | Maximum | Q1 2021 Tender Offer, Senior Notes
Debt Instrument [Line Items]
Amount repurchased	$ 1,000

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Earnings Per Common Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 26, 2022	Mar. 27, 2021
Basic EPS
Net income/(loss) attributable to common shareholders	$ 776	$ 563
Weighted average shares of common stock outstanding (in shares)	1,225	1,223
Basic earnings/(loss) per common share (in dollars per share)	$ 0.63	$ 0.46
Diluted EPS
Net income/(loss) attributable to common shareholders	$ 776	$ 563
Weighted average shares of common stock outstanding (in shares)	1,225	1,223
Effect of dilutive equity awards (in shares)	9	9
Weighted average shares of common stock outstanding, including dilutive effect (in shares)	1,234	1,232
Diluted earnings/(loss) per common share (in dollars per share)	$ 0.63	$ 0.46

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Details) - shares shares in Millions	3 Months Ended
	Mar. 26, 2022	Mar. 27, 2021
Earnings Per Share [Abstract]
Anti-dilutive shares	8	8

Segment Reporting - Additional

Segment Reporting - Additional Information (Details)	3 Months Ended
	Mar. 26, 2022segment
Segment Reporting [Abstract]
Number of reportable segments	3

Segment Reporting - Net Sales b

Segment Reporting - Net Sales by Segment (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 26, 2022	Mar. 27, 2021
Segment Reporting, Revenue Reconciling Item [Line Items]
Net sales	$ 6,045	$ 6,394
United States
Segment Reporting, Revenue Reconciling Item [Line Items]
Net sales	4,214	4,608
International
Segment Reporting, Revenue Reconciling Item [Line Items]
Net sales	1,444	1,394
Canada
Segment Reporting, Revenue Reconciling Item [Line Items]
Net sales	$ 387	$ 392

Segment Reporting - Segment Adj

Segment Reporting - Segment Adjusted EBITDA (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 26, 2022	Mar. 27, 2021
Segment Reporting Information [Line Items]
Depreciation and amortization (excluding restructuring activities)	$ (217)	$ (222)
Divestiture-related license income	14	0
Restructuring activities	(19)	(18)
Deal costs	(8)	(7)
Unrealized gains/(losses) on commodity hedges	92	37
Impairment losses	(55)	(230)
Equity award compensation expense (excluding restructuring activities)	(34)	(51)
Operating income/(loss)	1,115	1,089
Interest expense	242	415
Other expense/(income)	(98)	(30)
Income/(loss) before income taxes	971	704
General corporate expenses
Segment Reporting Information [Line Items]
Segment Adjusted EBITDA	(73)	(70)
United States | Operating Segments
Segment Reporting Information [Line Items]
Segment Adjusted EBITDA	1,091	1,280
International | Operating Segments
Segment Reporting Information [Line Items]
Segment Adjusted EBITDA	242	283
Canada | Operating Segments
Segment Reporting Information [Line Items]
Segment Adjusted EBITDA	$ 82	$ 87

Segment Reporting - Net Sales_2

Segment Reporting - Net Sales by Platform (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 26, 2022	Mar. 27, 2021
Revenue from External Customer [Line Items]
Net sales	$ 6,045	$ 6,394
Taste Elevation
Revenue from External Customer [Line Items]
Net sales	1,830	1,692
Fast Fresh Meals
Revenue from External Customer [Line Items]
Net sales	1,358	1,625
Easy Meals Made Better
Revenue from External Customer [Line Items]
Net sales	1,238	1,201
Real Food Snacking
Revenue from External Customer [Line Items]
Net sales	315	581
Flavorful Hydration
Revenue from External Customer [Line Items]
Net sales	455	411
Easy Indulgent Desserts
Revenue from External Customer [Line Items]
Net sales	217	212
Other
Revenue from External Customer [Line Items]
Net sales	$ 632	$ 672

Segment Reporting - Net Sales_3

Segment Reporting - Net Sales by Product Category (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 26, 2022	Mar. 27, 2021
Revenue from External Customer [Line Items]
Net sales	$ 6,045	$ 6,394
Condiments and sauces
Revenue from External Customer [Line Items]
Net sales	1,827	1,682
Cheese and dairy
Revenue from External Customer [Line Items]
Net sales	885	1,233
Ambient foods
Revenue from External Customer [Line Items]
Net sales	722	698
Frozen and chilled foods
Revenue from External Customer [Line Items]
Net sales	674	674
Meats and seafood
Revenue from External Customer [Line Items]
Net sales	628	611
Refreshment beverages
Revenue from External Customer [Line Items]
Net sales	456	411
Coffee
Revenue from External Customer [Line Items]
Net sales	214	210
Infant and nutrition
Revenue from External Customer [Line Items]
Net sales	104	107
Desserts, toppings, and baking
Revenue from External Customer [Line Items]
Net sales	246	242
Nuts and salted snacks
Revenue from External Customer [Line Items]
Net sales	0	251
Other
Revenue from External Customer [Line Items]
Net sales	$ 289	$ 275

Other Financial Data - Schedule

Other Financial Data - Schedule of Other Expense/(Income) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 26, 2022	Mar. 27, 2021
Other Income and Expenses [Abstract]
Amortization of postemployment benefit plans prior service costs/(credits)	$ (4)	$ (2)
Net pension and postretirement non-service cost/(benefit)(a)	(46)	(50)
Loss/(gain) on sale of business	1	19
Interest income	5	5
Foreign exchange losses/(gains)	(32)	(36)
Derivative losses/(gains)	(11)	42
Other miscellaneous expense/(income)	(1)	2
Other expense/(income)	$ 98	$ 30

Other Financial Data - Addition

Other Financial Data - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 26, 2022	Mar. 27, 2021
Other Income and Expenses [Abstract]
Other expense/(income)	$ 98	$ 30
Derivative losses/(gains)	(11)	42
Loss/(gain) on sale of business	$ (1)	$ (19)