| Name and Benefits | Involuntary Termination - No Change of Control ($) | Change of Control W/ Involuntary Termination ($) | Retirement ($)(1) | Death ($) | Disability ($) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Sherry Brice | Cash Severance | 600,000 | 1,280,000 | — | — | — | 280G Reduction (2) | — | — | — | — | — | 2023 Annual Incentive Earned | 308,265 | 308,265 | — | 308,265 | 308,265 | PSUs | — | — | — | — | — | RSUs | 1,103,581 | (3) | 1,134,978 | (5) | — | 97,073 | (6) | 97,073 | (6) | |||||||||||||||||||||||||||
| Outplacement | 11,138 | 11,138 | — | — | — | Health and Welfare Benefits (6) | 8,457 | 11,276 | — | — | — | Other Benefits and Perquisites (7) | — | 2,660 | — | — | — | Life Insurance and Executive Survivor Income Plan Benefits (8) | — | — | — | 400,000 | — | Retention Cash Award (9) | — | — | — | — | — | Total | 2,031,441 | 2,748,317 | — | 805,338 | 405,338 | ||||||||||||||||||||||||||
| Name and Benefits | Involuntary Termination - No Change of Control ($) | Change of Control W/ Involuntary Termination ($) | Retirement ($)(1) | Death ($) | Disability ($) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| David McKinstray | Cash Severance | 750,000 | 1,800,000 | — | — | — | 280G Reduction (2) | — | — | — | — | — | 2023 Annual Incentive Earned | 431,575 | 431,575 | — | 431,575 | 431,575 | PSUs | — | — | — | — | — | RSUs | 1,395,624 | (3) | 1,432,063 | (4) | — | 118,290 | (5) | 118,290 | (5) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Outplacement | 11,138 | 11,138 | — | — | — | Health and Welfare Benefits (6) | 24,470 | 32,626 | — | — | — | Other Benefits and Perquisites (7) | — | 10,039 | — | — | — | Life Insurance and Executive Survivor Income Plan Benefits (8) | — | — | — | 500,000 | — | Retention Cash Award (9) | — | — | — | — | — | Total | 2,612,807 | 3,717,441 | — | 1,049,865 | 549,865 | Douglas VanDeVelde | Cash Severance | 825,000 | 1,815,000 | — | — | — | 280G Reduction (2) | — | — | — | — | — | 2023 Annual Incentive Earned | 555,800 | 555,800 | 555,800 | 555,800 | 555,800 | PSUs | — | — | — | — | — | RSUs | 1,252,962 | (3) | 1,317,253 | (4) | 109,417 | 149,579 | (5) | 149,579 | (5) | |||||||||||||||||||||||||||||||||||
| Outplacement | 11,138 | 11,138 | — | — | — | Health and Welfare Benefits (6) | 24,144 | 32,192 | — | — | — | Other Benefits and Perquisites (7) | — | 48,972 | — | — | — | Life Insurance and Executive Survivor Income Plan Benefits (8) | — | — | — | 2,666,000 | --- | Retention Cash Award (9) | 239,000 | 239,000 | — | 179,168 | 179,168 | Total | 2,908,044 | 4,019,355 | 665,217 | 3,550,547 | 884,547 | Bruce Brown | Cash Severance | 682,500 | 1,501,500 | — | — | — | 280G Reduction (2) | — | (46,711) | — | — | — | 2023 Annual Incentive Earned | 358,696 | 358,696 | 358,696 | 358,696 | 358,696 | PSUs | — | — | — | — | — | RSUs | 1,131,954 | (3) | 1,169,594 | (4) | 66,882 | 107,045 | (5) | 107,045 | (5) | |||||||||||||||||||||||||||||||||||
| Outplacement | 11,138 | 11,138 | — | — | — | Health and Welfare Benefits (6) | 16,968 | 22,624 | — | — | — | Other Benefits and Perquisites (7) | — | 39,676 | — | — | — | Life Insurance and Executive Survivor Income Plan Benefits (8) | — | — | — | 2,065,000 | — | Retention Cash Award (9) | — | — | — | — | — | Total | 2,201,256 | 3,056,517 | 425,578 | 2,530,741 | 465,741 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Name and Benefits | Involuntary Termination - No Change of Control ($) | Change of Control W/ Involuntary Termination ($) | Retirement(1) ($) | Death ($) | Disability ($) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gary Pilnick | Cash Severance | 2,000,000 | 4,200,000 | — | — | — | 280G Reduction (2) | — | — | — | — | — | 2023 Annual Incentive Earned | 1,526,611 | 1,526,611 | 1,526,611 | 1,526,611 | 1,526,611 | PSUs | — | — | — | — | — | RSUs | 6,858,035 | (3) | 6,822,545 | (4) | 539,654 | 751,695 | (5) | 751,695 | (5) | |||||||||||||||||||||||||||
| Outplacement | 11,138 | 11,138 | — | — | — | Health and Welfare Benefits (6) | 31,614 | 31,614 | — | — | — | Other Benefits and Perquisites (7) | — | 105,080 | — | — | — | Life Insurance and Executive Survivor Income Plan Benefits (8) | — | — | — | 7,254,000 | — | Retention Cash Award (9) | — | — | — | — | — | Total | 10,427,398 | 12,696,988 | 2,066,265 | 9,532,306 | 2,278,306 | ||||||||||||||||||||||||||
| (millions) | 2023 | 2022 | 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Operating activities | Net income (loss) | $ | 110 | $ | (25) | $ | 162 | Adjustments to reconcile net income (loss) to operating cash flows: | Depreciation and amortization | 66 | 68 | 68 | (Gain) / loss on retirement of equipment | 14 | — | — | Pension and postretirement benefit plan expense (benefit) | (60) | 112 | (157) | Insurance recoveries | (4) | — | — | Deferred income taxes | (4) | (15) | 13 | Stock compensation | 8 | 3 | 2 | Other | — | 1 | — | Postretirement benefit plan contributions | — | (1) | (1) | Changes in operating assets and liabilities, net of acquisitions: | Trade receivables | (85) | (74) | 61 | Inventories | 86 | (102) | (50) | Accounts payable | 167 | 77 | (53) | Income taxes payable | 7 | — | — | Accrued advertising and promotion | 79 | 23 | (40) | Accrued salaries and wages | 25 | 7 | (4) | All other current assets and liabilities | 13 | (21) | 6 | Net cash provided by (used in) operating activities | $ | 422 | $ | 53 | $ | 7 | Investing activities | Additions to properties | (150) | (71) | (75) | Property damage recoveries from insurance proceeds | 4 | — | — | Net cash provided by (used in) investing activities | $ | (146) | $ | (71) | $ | (75) | Financing activities | Proceeds from borrowings under the Credit Agreement | 664 | — | — | Repayment of borrowings under the Credit Agreement | (164) | — | — | Payment of financing fees | (7) | — | — | Issuances of notes payable, with maturities less than 90 days | 4 | — | — | Dividend to Kellanova | (663) | — | — | All other net transfers (to) from Kellanova | (8) | 18 | 68 | Dividends paid | (14) | — | — | Net cash provided by (used in) financing activities | $ | (188) | $ | 18 | $ | 68 | Effect of exchange rate changes on cash and cash equivalents | 1 | — | — | Increase (decrease) in cash and cash equivalents | $ | 89 | $ | — | $ | — | Cash and cash equivalents at beginning of period | — | — | — | Cash and cash equivalents at end of period | $ | 89 | $ | — | $ | — | Supplemental cash flow disclosures: | Interest paid | $ | 10 | $ | — | $ | — | Income taxes paid | $ | 2 | $ | — | $ | — | Supplemental cash flow disclosures of non-cash investing activities: | Additions to properties included in accounts payable | $ | 12 | $ | 38 | $ | 13 | Supplemental cash flow disclosures of non-cash financing activities: | Contribution of certain assets and liabilities to WK Kellogg Co by Kellanova | $ | 190 | $ | — | $ | — | |||||||||||||||||||||||||||||||||||||||||||||
