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We present all non-service cost components of net pension cost/(benefit) within other expense/(income) on our consolidated statements of income. In 2023, we recognized settlement charges of $ 146 million and other related costs of $ 16 million related to the settlement of one of our U.K. defined benefit pension plans, which resulted in pre-tax losses of $ 162 million within other expense/(income). | text | 16 | monetaryItemType | text: <entity> 16 </entity> <entity type> monetaryItemType </entity type> <context> We present all non-service cost components of net pension cost/(benefit) within other expense/(income) on our consolidated statements of income. In 2023, we recognized settlement charges of $ 146 million and other related costs of $ 16 million related to the settlement of one of our U.K. defined benefit pension plans, which resulted in pre-tax losses of $ 162 million within other expense/(income). </context> | us-gaap:DefinedBenefitPlanOtherCosts |
Our pension investment strategy for the U.S. plan is designed to align our pension assets with our projected benefit obligation to reduce volatility. We target an investment of approximately 75 % of our U.S. plan assets in fixed-income securities, approximately 15 % in alternatives, primarily real assets and diversified credit, and approximately 10 % in return-seeking assets, primarily equity securities. | text | 75 | percentItemType | text: <entity> 75 </entity> <entity type> percentItemType </entity type> <context> Our pension investment strategy for the U.S. plan is designed to align our pension assets with our projected benefit obligation to reduce volatility. We target an investment of approximately 75 % of our U.S. plan assets in fixed-income securities, approximately 15 % in alternatives, primarily real assets and diversified credit, and approximately 10 % in return-seeking assets, primarily equity securities. </context> | us-gaap:DefinedBenefitPlanPlanAssetsTargetAllocationPercentage |
Our pension investment strategy for the U.S. plan is designed to align our pension assets with our projected benefit obligation to reduce volatility. We target an investment of approximately 75 % of our U.S. plan assets in fixed-income securities, approximately 15 % in alternatives, primarily real assets and diversified credit, and approximately 10 % in return-seeking assets, primarily equity securities. | text | 15 | percentItemType | text: <entity> 15 </entity> <entity type> percentItemType </entity type> <context> Our pension investment strategy for the U.S. plan is designed to align our pension assets with our projected benefit obligation to reduce volatility. We target an investment of approximately 75 % of our U.S. plan assets in fixed-income securities, approximately 15 % in alternatives, primarily real assets and diversified credit, and approximately 10 % in return-seeking assets, primarily equity securities. </context> | us-gaap:DefinedBenefitPlanPlanAssetsTargetAllocationPercentage |
Our pension investment strategy for the U.S. plan is designed to align our pension assets with our projected benefit obligation to reduce volatility. We target an investment of approximately 75 % of our U.S. plan assets in fixed-income securities, approximately 15 % in alternatives, primarily real assets and diversified credit, and approximately 10 % in return-seeking assets, primarily equity securities. | text | 10 | percentItemType | text: <entity> 10 </entity> <entity type> percentItemType </entity type> <context> Our pension investment strategy for the U.S. plan is designed to align our pension assets with our projected benefit obligation to reduce volatility. We target an investment of approximately 75 % of our U.S. plan assets in fixed-income securities, approximately 15 % in alternatives, primarily real assets and diversified credit, and approximately 10 % in return-seeking assets, primarily equity securities. </context> | us-gaap:DefinedBenefitPlanPlanAssetsTargetAllocationPercentage |
For pension plans outside the United States, our investment strategy is subject to local regulations and the asset/liability profiles of the plans in each individual country. In aggregate, the long-term asset allocation targets of our non-U.S. plans are broadly characterized as a mix of approximately 79 % fixed-income securities and certain insurance contracts, approximately 10 % in alternatives, primarily multi-asset credit, and approximately 11 % in return-seeking assets, primarily equity securities. | text | 79 | percentItemType | text: <entity> 79 </entity> <entity type> percentItemType </entity type> <context> For pension plans outside the United States, our investment strategy is subject to local regulations and the asset/liability profiles of the plans in each individual country. In aggregate, the long-term asset allocation targets of our non-U.S. plans are broadly characterized as a mix of approximately 79 % fixed-income securities and certain insurance contracts, approximately 10 % in alternatives, primarily multi-asset credit, and approximately 11 % in return-seeking assets, primarily equity securities. </context> | us-gaap:DefinedBenefitPlanPlanAssetsTargetAllocationPercentage |
For pension plans outside the United States, our investment strategy is subject to local regulations and the asset/liability profiles of the plans in each individual country. In aggregate, the long-term asset allocation targets of our non-U.S. plans are broadly characterized as a mix of approximately 79 % fixed-income securities and certain insurance contracts, approximately 10 % in alternatives, primarily multi-asset credit, and approximately 11 % in return-seeking assets, primarily equity securities. | text | 10 | percentItemType | text: <entity> 10 </entity> <entity type> percentItemType </entity type> <context> For pension plans outside the United States, our investment strategy is subject to local regulations and the asset/liability profiles of the plans in each individual country. In aggregate, the long-term asset allocation targets of our non-U.S. plans are broadly characterized as a mix of approximately 79 % fixed-income securities and certain insurance contracts, approximately 10 % in alternatives, primarily multi-asset credit, and approximately 11 % in return-seeking assets, primarily equity securities. </context> | us-gaap:DefinedBenefitPlanPlanAssetsTargetAllocationPercentage |
For pension plans outside the United States, our investment strategy is subject to local regulations and the asset/liability profiles of the plans in each individual country. In aggregate, the long-term asset allocation targets of our non-U.S. plans are broadly characterized as a mix of approximately 79 % fixed-income securities and certain insurance contracts, approximately 10 % in alternatives, primarily multi-asset credit, and approximately 11 % in return-seeking assets, primarily equity securities. | text | 11 | percentItemType | text: <entity> 11 </entity> <entity type> percentItemType </entity type> <context> For pension plans outside the United States, our investment strategy is subject to local regulations and the asset/liability profiles of the plans in each individual country. In aggregate, the long-term asset allocation targets of our non-U.S. plans are broadly characterized as a mix of approximately 79 % fixed-income securities and certain insurance contracts, approximately 10 % in alternatives, primarily multi-asset credit, and approximately 11 % in return-seeking assets, primarily equity securities. </context> | us-gaap:DefinedBenefitPlanPlanAssetsTargetAllocationPercentage |
Amount includes cash collateral of $ 164 million associated with our securities lending program, which is reflected as an asset, and a corresponding securities lending payable of $ 164 million, which is reflected as a liability. The net impact on total plan assets at fair value is zero . | text | 164 | monetaryItemType | text: <entity> 164 </entity> <entity type> monetaryItemType </entity type> <context> Amount includes cash collateral of $ 164 million associated with our securities lending program, which is reflected as an asset, and a corresponding securities lending payable of $ 164 million, which is reflected as a liability. The net impact on total plan assets at fair value is zero . </context> | us-gaap:SecuritiesLoanedCollateralRightToReclaimCash |
Amount includes cash collateral of $ 164 million associated with our securities lending program, which is reflected as an asset, and a corresponding securities lending payable of $ 164 million, which is reflected as a liability. The net impact on total plan assets at fair value is zero . | text | 164 | monetaryItemType | text: <entity> 164 </entity> <entity type> monetaryItemType </entity type> <context> Amount includes cash collateral of $ 164 million associated with our securities lending program, which is reflected as an asset, and a corresponding securities lending payable of $ 164 million, which is reflected as a liability. The net impact on total plan assets at fair value is zero . </context> | us-gaap:SecuritiesBorrowedCollateralObligationToReturnCash |
Amount includes cash collateral of $ 164 million associated with our securities lending program, which is reflected as an asset, and a corresponding securities lending payable of $ 164 million, which is reflected as a liability. The net impact on total plan assets at fair value is zero . | text | zero | monetaryItemType | text: <entity> zero </entity> <entity type> monetaryItemType </entity type> <context> Amount includes cash collateral of $ 164 million associated with our securities lending program, which is reflected as an asset, and a corresponding securities lending payable of $ 164 million, which is reflected as a liability. The net impact on total plan assets at fair value is zero . </context> | us-gaap:SecuritiesLoanedFairValueOfCollateral |
Amount includes cash collateral of $ 192 million associated with our securities lending program, which is reflected as an asset, and a corresponding securities lending payable of $ 192 million, which is reflected as a liability. The net impact on total plan assets at fair value is zero . | text | 192 | monetaryItemType | text: <entity> 192 </entity> <entity type> monetaryItemType </entity type> <context> Amount includes cash collateral of $ 192 million associated with our securities lending program, which is reflected as an asset, and a corresponding securities lending payable of $ 192 million, which is reflected as a liability. The net impact on total plan assets at fair value is zero . </context> | us-gaap:SecuritiesLoanedCollateralRightToReclaimCash |
Amount includes cash collateral of $ 192 million associated with our securities lending program, which is reflected as an asset, and a corresponding securities lending payable of $ 192 million, which is reflected as a liability. The net impact on total plan assets at fair value is zero . | text | 192 | monetaryItemType | text: <entity> 192 </entity> <entity type> monetaryItemType </entity type> <context> Amount includes cash collateral of $ 192 million associated with our securities lending program, which is reflected as an asset, and a corresponding securities lending payable of $ 192 million, which is reflected as a liability. The net impact on total plan assets at fair value is zero . </context> | us-gaap:SecuritiesBorrowedCollateralObligationToReturnCash |
Amount includes cash collateral of $ 192 million associated with our securities lending program, which is reflected as an asset, and a corresponding securities lending payable of $ 192 million, which is reflected as a liability. The net impact on total plan assets at fair value is zero . | text | zero | monetaryItemType | text: <entity> zero </entity> <entity type> monetaryItemType </entity type> <context> Amount includes cash collateral of $ 192 million associated with our securities lending program, which is reflected as an asset, and a corresponding securities lending payable of $ 192 million, which is reflected as a liability. The net impact on total plan assets at fair value is zero . </context> | us-gaap:SecuritiesLoanedFairValueOfCollateral |
In 2024, we contributed $ 7 million to our non-U.S. pension plans. We did no t contribute to our U.S. pension plan. We estimate that 2025 pension contributions will be approximately $ 6 million to our non-U.S. pension plans. We do no t plan to make contributions to our U.S. pension plan in 2025. Estimated future contributions take into consideration current economic conditions, which at this time are expected to have minimal impact on expected contributions for 2025. 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. | text | no | monetaryItemType | text: <entity> no </entity> <entity type> monetaryItemType </entity type> <context> In 2024, we contributed $ 7 million to our non-U.S. pension plans. We did no t contribute to our U.S. pension plan. We estimate that 2025 pension contributions will be approximately $ 6 million to our non-U.S. pension plans. We do no t plan to make contributions to our U.S. pension plan in 2025. Estimated future contributions take into consideration current economic conditions, which at this time are expected to have minimal impact on expected contributions for 2025. 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. </context> | us-gaap:DefinedBenefitPlanContributionsByEmployer |
In 2024, we contributed $ 7 million to our non-U.S. pension plans. We did no t contribute to our U.S. pension plan. We estimate that 2025 pension contributions will be approximately $ 6 million to our non-U.S. pension plans. We do no t plan to make contributions to our U.S. pension plan in 2025. Estimated future contributions take into consideration current economic conditions, which at this time are expected to have minimal impact on expected contributions for 2025. 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. | text | 6 | monetaryItemType | text: <entity> 6 </entity> <entity type> monetaryItemType </entity type> <context> In 2024, we contributed $ 7 million to our non-U.S. pension plans. We did no t contribute to our U.S. pension plan. We estimate that 2025 pension contributions will be approximately $ 6 million to our non-U.S. pension plans. We do no t plan to make contributions to our U.S. pension plan in 2025. Estimated future contributions take into consideration current economic conditions, which at this time are expected to have minimal impact on expected contributions for 2025. 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. </context> | us-gaap:DefinedBenefitPlanExpectedFutureEmployerContributionsNextFiscalYear |
In 2024, we contributed $ 7 million to our non-U.S. pension plans. We did no t contribute to our U.S. pension plan. We estimate that 2025 pension contributions will be approximately $ 6 million to our non-U.S. pension plans. We do no t plan to make contributions to our U.S. pension plan in 2025. Estimated future contributions take into consideration current economic conditions, which at this time are expected to have minimal impact on expected contributions for 2025. 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. | text | no | monetaryItemType | text: <entity> no </entity> <entity type> monetaryItemType </entity type> <context> In 2024, we contributed $ 7 million to our non-U.S. pension plans. We did no t contribute to our U.S. pension plan. We estimate that 2025 pension contributions will be approximately $ 6 million to our non-U.S. pension plans. We do no t plan to make contributions to our U.S. pension plan in 2025. Estimated future contributions take into consideration current economic conditions, which at this time are expected to have minimal impact on expected contributions for 2025. 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. </context> | us-gaap:DefinedBenefitPlanExpectedFutureEmployerContributionsNextFiscalYear |
In 2023, we settled one of our U.K. defined benefit pension plans, which resulted in a surplus asset. During the third quarter of 2024, the surplus asset was distributed to Kraft Heinz as a negative contribution in the amount of $ 29 million net of tax, which is shown as a cash inflow on the Consolidated Statements of Cash Flows. | text | 29 | monetaryItemType | text: <entity> 29 </entity> <entity type> monetaryItemType </entity type> <context> In 2023, we settled one of our U.K. defined benefit pension plans, which resulted in a surplus asset. During the third quarter of 2024, the surplus asset was distributed to Kraft Heinz as a negative contribution in the amount of $ 29 million net of tax, which is shown as a cash inflow on the Consolidated Statements of Cash Flows. </context> | us-gaap:DefinedBenefitPlanPensionPlanWithProjectedBenefitObligationInExcessOfPlanAssetsPlanAssets |
Our postretirement benefit plan investment strategy is subject to local regulations and the asset/liability profiles of the plans in each individual country. Our investment strategy is designed to align our postretirement benefit plan assets with our postretirement benefit obligation to reduce volatility. In aggregate, our long-term asset allocation targets are broadly characterized as a mix of approximately 76 % in fixed-income securities and approximately 24 % in return-seeking assets, primarily equity securities. | text | 76 | percentItemType | text: <entity> 76 </entity> <entity type> percentItemType </entity type> <context> Our postretirement benefit plan investment strategy is subject to local regulations and the asset/liability profiles of the plans in each individual country. Our investment strategy is designed to align our postretirement benefit plan assets with our postretirement benefit obligation to reduce volatility. In aggregate, our long-term asset allocation targets are broadly characterized as a mix of approximately 76 % in fixed-income securities and approximately 24 % in return-seeking assets, primarily equity securities. </context> | us-gaap:DefinedBenefitPlanPlanAssetsTargetAllocationPercentage |
Our postretirement benefit plan investment strategy is subject to local regulations and the asset/liability profiles of the plans in each individual country. Our investment strategy is designed to align our postretirement benefit plan assets with our postretirement benefit obligation to reduce volatility. In aggregate, our long-term asset allocation targets are broadly characterized as a mix of approximately 76 % in fixed-income securities and approximately 24 % in return-seeking assets, primarily equity securities. | text | 24 | percentItemType | text: <entity> 24 </entity> <entity type> percentItemType </entity type> <context> Our postretirement benefit plan investment strategy is subject to local regulations and the asset/liability profiles of the plans in each individual country. Our investment strategy is designed to align our postretirement benefit plan assets with our postretirement benefit obligation to reduce volatility. In aggregate, our long-term asset allocation targets are broadly characterized as a mix of approximately 76 % in fixed-income securities and approximately 24 % in return-seeking assets, primarily equity securities. </context> | us-gaap:DefinedBenefitPlanPlanAssetsTargetAllocationPercentage |
In 2024, we contributed $ 11 million to our postretirement benefit plans. We estimate that 2025 postretirement benefit plan contributions will be approximately $ 11 million. Estimated future contributions take into consideration current economic conditions, which at this time are expected to have minimal impact on expected contributions for 2025. 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. | text | 11 | monetaryItemType | text: <entity> 11 </entity> <entity type> monetaryItemType </entity type> <context> In 2024, we contributed $ 11 million to our postretirement benefit plans. We estimate that 2025 postretirement benefit plan contributions will be approximately $ 11 million. Estimated future contributions take into consideration current economic conditions, which at this time are expected to have minimal impact on expected contributions for 2025. 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. </context> | us-gaap:DefinedBenefitPlanExpectedFutureEmployerContributionsNextFiscalYear |
We sponsor and contribute to employee savings plans that cover eligible salaried, non-union, and union employees. Our contributions and costs are determined by the matching of employee contributions, as defined by the plans. Amounts charged to expense for defined contribution plans totaled $ 109 million in 2024, $ 103 million in 2023, and $ 98 million in 2022. | text | 109 | monetaryItemType | text: <entity> 109 </entity> <entity type> monetaryItemType </entity type> <context> We sponsor and contribute to employee savings plans that cover eligible salaried, non-union, and union employees. Our contributions and costs are determined by the matching of employee contributions, as defined by the plans. Amounts charged to expense for defined contribution plans totaled $ 109 million in 2024, $ 103 million in 2023, and $ 98 million in 2022. </context> | us-gaap:DefinedContributionPlanCostRecognized |
We sponsor and contribute to employee savings plans that cover eligible salaried, non-union, and union employees. Our contributions and costs are determined by the matching of employee contributions, as defined by the plans. Amounts charged to expense for defined contribution plans totaled $ 109 million in 2024, $ 103 million in 2023, and $ 98 million in 2022. | text | 103 | monetaryItemType | text: <entity> 103 </entity> <entity type> monetaryItemType </entity type> <context> We sponsor and contribute to employee savings plans that cover eligible salaried, non-union, and union employees. Our contributions and costs are determined by the matching of employee contributions, as defined by the plans. Amounts charged to expense for defined contribution plans totaled $ 109 million in 2024, $ 103 million in 2023, and $ 98 million in 2022. </context> | us-gaap:DefinedContributionPlanCostRecognized |
We sponsor and contribute to employee savings plans that cover eligible salaried, non-union, and union employees. Our contributions and costs are determined by the matching of employee contributions, as defined by the plans. Amounts charged to expense for defined contribution plans totaled $ 109 million in 2024, $ 103 million in 2023, and $ 98 million in 2022. | text | 98 | monetaryItemType | text: <entity> 98 </entity> <entity type> monetaryItemType </entity type> <context> We sponsor and contribute to employee savings plans that cover eligible salaried, non-union, and union employees. Our contributions and costs are determined by the matching of employee contributions, as defined by the plans. Amounts charged to expense for defined contribution plans totaled $ 109 million in 2024, $ 103 million in 2023, and $ 98 million in 2022. </context> | us-gaap:DefinedContributionPlanCostRecognized |
(a) At December 28, 2024, the fair value of our derivative assets was recorded in other current assets ($ 71 million) and other non-current assets ($ 7 million), and the fair value of our derivative liabilities was recorded in other current liabilities ($ 16 million) and other non-current liabilities ($ 1 million). | text | 71 | monetaryItemType | text: <entity> 71 </entity> <entity type> monetaryItemType </entity type> <context> (a) At December 28, 2024, the fair value of our derivative assets was recorded in other current assets ($ 71 million) and other non-current assets ($ 7 million), and the fair value of our derivative liabilities was recorded in other current liabilities ($ 16 million) and other non-current liabilities ($ 1 million). </context> | us-gaap:DerivativeFairValueOfDerivativeAsset |
(a) At December 28, 2024, the fair value of our derivative assets was recorded in other current assets ($ 71 million) and other non-current assets ($ 7 million), and the fair value of our derivative liabilities was recorded in other current liabilities ($ 16 million) and other non-current liabilities ($ 1 million). | text | 7 | monetaryItemType | text: <entity> 7 </entity> <entity type> monetaryItemType </entity type> <context> (a) At December 28, 2024, the fair value of our derivative assets was recorded in other current assets ($ 71 million) and other non-current assets ($ 7 million), and the fair value of our derivative liabilities was recorded in other current liabilities ($ 16 million) and other non-current liabilities ($ 1 million). </context> | us-gaap:DerivativeFairValueOfDerivativeAsset |
(a) At December 28, 2024, the fair value of our derivative assets was recorded in other current assets ($ 71 million) and other non-current assets ($ 7 million), and the fair value of our derivative liabilities was recorded in other current liabilities ($ 16 million) and other non-current liabilities ($ 1 million). | text | 16 | monetaryItemType | text: <entity> 16 </entity> <entity type> monetaryItemType </entity type> <context> (a) At December 28, 2024, the fair value of our derivative assets was recorded in other current assets ($ 71 million) and other non-current assets ($ 7 million), and the fair value of our derivative liabilities was recorded in other current liabilities ($ 16 million) and other non-current liabilities ($ 1 million). </context> | us-gaap:DerivativeFairValueOfDerivativeLiability |
(a) At December 28, 2024, the fair value of our derivative assets was recorded in other current assets ($ 71 million) and other non-current assets ($ 7 million), and the fair value of our derivative liabilities was recorded in other current liabilities ($ 16 million) and other non-current liabilities ($ 1 million). | text | 1 | monetaryItemType | text: <entity> 1 </entity> <entity type> monetaryItemType </entity type> <context> (a) At December 28, 2024, the fair value of our derivative assets was recorded in other current assets ($ 71 million) and other non-current assets ($ 7 million), and the fair value of our derivative liabilities was recorded in other current liabilities ($ 16 million) and other non-current liabilities ($ 1 million). </context> | us-gaap:DerivativeFairValueOfDerivativeLiability |
(b) At December 28, 2024, the fair value of our derivative assets was recorded in other current assets ($ 69 million) and other non-current assets ($ 68 million), and the fair value of our derivative liabilities was recorded in other current liabilities ($ 34 million) and other non-current liabilities ($ 138 million). | text | 69 | monetaryItemType | text: <entity> 69 </entity> <entity type> monetaryItemType </entity type> <context> (b) At December 28, 2024, the fair value of our derivative assets was recorded in other current assets ($ 69 million) and other non-current assets ($ 68 million), and the fair value of our derivative liabilities was recorded in other current liabilities ($ 34 million) and other non-current liabilities ($ 138 million). </context> | us-gaap:DerivativeFairValueOfDerivativeAsset |
(b) At December 28, 2024, the fair value of our derivative assets was recorded in other current assets ($ 69 million) and other non-current assets ($ 68 million), and the fair value of our derivative liabilities was recorded in other current liabilities ($ 34 million) and other non-current liabilities ($ 138 million). | text | 68 | monetaryItemType | text: <entity> 68 </entity> <entity type> monetaryItemType </entity type> <context> (b) At December 28, 2024, the fair value of our derivative assets was recorded in other current assets ($ 69 million) and other non-current assets ($ 68 million), and the fair value of our derivative liabilities was recorded in other current liabilities ($ 34 million) and other non-current liabilities ($ 138 million). </context> | us-gaap:DerivativeFairValueOfDerivativeAsset |
(b) At December 28, 2024, the fair value of our derivative assets was recorded in other current assets ($ 69 million) and other non-current assets ($ 68 million), and the fair value of our derivative liabilities was recorded in other current liabilities ($ 34 million) and other non-current liabilities ($ 138 million). | text | 34 | monetaryItemType | text: <entity> 34 </entity> <entity type> monetaryItemType </entity type> <context> (b) At December 28, 2024, the fair value of our derivative assets was recorded in other current assets ($ 69 million) and other non-current assets ($ 68 million), and the fair value of our derivative liabilities was recorded in other current liabilities ($ 34 million) and other non-current liabilities ($ 138 million). </context> | us-gaap:DerivativeFairValueOfDerivativeLiability |
(b) At December 28, 2024, the fair value of our derivative assets was recorded in other current assets ($ 69 million) and other non-current assets ($ 68 million), and the fair value of our derivative liabilities was recorded in other current liabilities ($ 34 million) and other non-current liabilities ($ 138 million). | text | 138 | monetaryItemType | text: <entity> 138 </entity> <entity type> monetaryItemType </entity type> <context> (b) At December 28, 2024, the fair value of our derivative assets was recorded in other current assets ($ 69 million) and other non-current assets ($ 68 million), and the fair value of our derivative liabilities was recorded in other current liabilities ($ 34 million) and other non-current liabilities ($ 138 million). </context> | us-gaap:DerivativeFairValueOfDerivativeLiability |
(c) At December 28, 2024, 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 ($ 55 million) and other non-current liabilities ($ 1 million). | text | 55 | monetaryItemType | text: <entity> 55 </entity> <entity type> monetaryItemType </entity type> <context> (c) At December 28, 2024, 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 ($ 55 million) and other non-current liabilities ($ 1 million). </context> | us-gaap:DerivativeLiabilityFairValueGrossLiabilityIncludingNotSubjectToMasterNettingArrangement |
(c) At December 28, 2024, 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 ($ 55 million) and other non-current liabilities ($ 1 million). | text | 1 | monetaryItemType | text: <entity> 1 </entity> <entity type> monetaryItemType </entity type> <context> (c) At December 28, 2024, 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 ($ 55 million) and other non-current liabilities ($ 1 million). </context> | us-gaap:DerivativeLiabilityFairValueGrossLiabilityIncludingNotSubjectToMasterNettingArrangement |
(a) At December 30, 2023, the fair value of our derivative assets was recorded in other current assets ($ 21 million) and other non-current assets ($ 8 million), and the fair value of our derivative liabilities was recorded in other current liabilities ($ 51 million) and other non-current liabilities ($ 14 million). | text | 21 | monetaryItemType | text: <entity> 21 </entity> <entity type> monetaryItemType </entity type> <context> (a) At December 30, 2023, the fair value of our derivative assets was recorded in other current assets ($ 21 million) and other non-current assets ($ 8 million), and the fair value of our derivative liabilities was recorded in other current liabilities ($ 51 million) and other non-current liabilities ($ 14 million). </context> | us-gaap:DerivativeFairValueOfDerivativeAsset |
(a) At December 30, 2023, the fair value of our derivative assets was recorded in other current assets ($ 21 million) and other non-current assets ($ 8 million), and the fair value of our derivative liabilities was recorded in other current liabilities ($ 51 million) and other non-current liabilities ($ 14 million). | text | 8 | monetaryItemType | text: <entity> 8 </entity> <entity type> monetaryItemType </entity type> <context> (a) At December 30, 2023, the fair value of our derivative assets was recorded in other current assets ($ 21 million) and other non-current assets ($ 8 million), and the fair value of our derivative liabilities was recorded in other current liabilities ($ 51 million) and other non-current liabilities ($ 14 million). </context> | us-gaap:DerivativeFairValueOfDerivativeAsset |
(a) At December 30, 2023, the fair value of our derivative assets was recorded in other current assets ($ 21 million) and other non-current assets ($ 8 million), and the fair value of our derivative liabilities was recorded in other current liabilities ($ 51 million) and other non-current liabilities ($ 14 million). | text | 51 | monetaryItemType | text: <entity> 51 </entity> <entity type> monetaryItemType </entity type> <context> (a) At December 30, 2023, the fair value of our derivative assets was recorded in other current assets ($ 21 million) and other non-current assets ($ 8 million), and the fair value of our derivative liabilities was recorded in other current liabilities ($ 51 million) and other non-current liabilities ($ 14 million). </context> | us-gaap:DerivativeFairValueOfDerivativeLiability |
(a) At December 30, 2023, the fair value of our derivative assets was recorded in other current assets ($ 21 million) and other non-current assets ($ 8 million), and the fair value of our derivative liabilities was recorded in other current liabilities ($ 51 million) and other non-current liabilities ($ 14 million). | text | 14 | monetaryItemType | text: <entity> 14 </entity> <entity type> monetaryItemType </entity type> <context> (a) At December 30, 2023, the fair value of our derivative assets was recorded in other current assets ($ 21 million) and other non-current assets ($ 8 million), and the fair value of our derivative liabilities was recorded in other current liabilities ($ 51 million) and other non-current liabilities ($ 14 million). </context> | us-gaap:DerivativeFairValueOfDerivativeLiability |
(b) At December 30, 2023, the fair value of our derivative assets was recorded in other current assets ($ 37 million) and other non-current assets ($ 103 million), and the fair value of our derivative liabilities was recorded in other current liabilities ($ 31 million) and other non-current liabilities ($ 134 million). | text | 37 | monetaryItemType | text: <entity> 37 </entity> <entity type> monetaryItemType </entity type> <context> (b) At December 30, 2023, the fair value of our derivative assets was recorded in other current assets ($ 37 million) and other non-current assets ($ 103 million), and the fair value of our derivative liabilities was recorded in other current liabilities ($ 31 million) and other non-current liabilities ($ 134 million). </context> | us-gaap:DerivativeFairValueOfDerivativeAsset |
(b) At December 30, 2023, the fair value of our derivative assets was recorded in other current assets ($ 37 million) and other non-current assets ($ 103 million), and the fair value of our derivative liabilities was recorded in other current liabilities ($ 31 million) and other non-current liabilities ($ 134 million). | text | 103 | monetaryItemType | text: <entity> 103 </entity> <entity type> monetaryItemType </entity type> <context> (b) At December 30, 2023, the fair value of our derivative assets was recorded in other current assets ($ 37 million) and other non-current assets ($ 103 million), and the fair value of our derivative liabilities was recorded in other current liabilities ($ 31 million) and other non-current liabilities ($ 134 million). </context> | us-gaap:DerivativeFairValueOfDerivativeAsset |
(b) At December 30, 2023, the fair value of our derivative assets was recorded in other current assets ($ 37 million) and other non-current assets ($ 103 million), and the fair value of our derivative liabilities was recorded in other current liabilities ($ 31 million) and other non-current liabilities ($ 134 million). | text | 31 | monetaryItemType | text: <entity> 31 </entity> <entity type> monetaryItemType </entity type> <context> (b) At December 30, 2023, the fair value of our derivative assets was recorded in other current assets ($ 37 million) and other non-current assets ($ 103 million), and the fair value of our derivative liabilities was recorded in other current liabilities ($ 31 million) and other non-current liabilities ($ 134 million). </context> | us-gaap:DerivativeFairValueOfDerivativeLiability |
(b) At December 30, 2023, the fair value of our derivative assets was recorded in other current assets ($ 37 million) and other non-current assets ($ 103 million), and the fair value of our derivative liabilities was recorded in other current liabilities ($ 31 million) and other non-current liabilities ($ 134 million). | text | 134 | monetaryItemType | text: <entity> 134 </entity> <entity type> monetaryItemType </entity type> <context> (b) At December 30, 2023, the fair value of our derivative assets was recorded in other current assets ($ 37 million) and other non-current assets ($ 103 million), and the fair value of our derivative liabilities was recorded in other current liabilities ($ 31 million) and other non-current liabilities ($ 134 million). </context> | us-gaap:DerivativeFairValueOfDerivativeLiability |
(c) At December 30, 2023, 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 ($ 64 million) and other non-current liabilities ($ 2 million). | text | 64 | monetaryItemType | text: <entity> 64 </entity> <entity type> monetaryItemType </entity type> <context> (c) At December 30, 2023, 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 ($ 64 million) and other non-current liabilities ($ 2 million). </context> | us-gaap:DerivativeLiabilityFairValueGrossLiabilityIncludingNotSubjectToMasterNettingArrangement |
(c) At December 30, 2023, 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 ($ 64 million) and other non-current liabilities ($ 2 million). | text | 2 | monetaryItemType | text: <entity> 2 </entity> <entity type> monetaryItemType </entity type> <context> (c) At December 30, 2023, 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 ($ 64 million) and other non-current liabilities ($ 2 million). </context> | us-gaap:DerivativeLiabilityFairValueGrossLiabilityIncludingNotSubjectToMasterNettingArrangement |
Non-derivative foreign currency denominated debt with principal amounts of € 300 million and £ 400 million; and | text | 300 | monetaryItemType | text: <entity> 300 </entity> <entity type> monetaryItemType </entity type> <context> Non-derivative foreign currency denominated debt with principal amounts of € 300 million and £ 400 million; and </context> | us-gaap:DerivativeAmountOfHedgedItem |
Non-derivative foreign currency denominated debt with principal amounts of € 300 million and £ 400 million; and | text | 400 | monetaryItemType | text: <entity> 400 </entity> <entity type> monetaryItemType </entity type> <context> Non-derivative foreign currency denominated debt with principal amounts of € 300 million and £ 400 million; and </context> | us-gaap:DerivativeAmountOfHedgedItem |
Cross-currency contracts with notional amounts of C$ 1.4 billion ($ 1.0 billion), € 2.8 billion ($ 3.0 billion), JPY 9.6 billion ($ 68 million), and CNY 2.5 billion ($ 344 million). | text | 1.4 | monetaryItemType | text: <entity> 1.4 </entity> <entity type> monetaryItemType </entity type> <context> Cross-currency contracts with notional amounts of C$ 1.4 billion ($ 1.0 billion), € 2.8 billion ($ 3.0 billion), JPY 9.6 billion ($ 68 million), and CNY 2.5 billion ($ 344 million). </context> | us-gaap:DerivativeLiabilityNotionalAmount |
Cross-currency contracts with notional amounts of C$ 1.4 billion ($ 1.0 billion), € 2.8 billion ($ 3.0 billion), JPY 9.6 billion ($ 68 million), and CNY 2.5 billion ($ 344 million). | text | 1.0 | monetaryItemType | text: <entity> 1.0 </entity> <entity type> monetaryItemType </entity type> <context> Cross-currency contracts with notional amounts of C$ 1.4 billion ($ 1.0 billion), € 2.8 billion ($ 3.0 billion), JPY 9.6 billion ($ 68 million), and CNY 2.5 billion ($ 344 million). </context> | us-gaap:DerivativeLiabilityNotionalAmount |
Cross-currency contracts with notional amounts of C$ 1.4 billion ($ 1.0 billion), € 2.8 billion ($ 3.0 billion), JPY 9.6 billion ($ 68 million), and CNY 2.5 billion ($ 344 million). | text | 2.8 | monetaryItemType | text: <entity> 2.8 </entity> <entity type> monetaryItemType </entity type> <context> Cross-currency contracts with notional amounts of C$ 1.4 billion ($ 1.0 billion), € 2.8 billion ($ 3.0 billion), JPY 9.6 billion ($ 68 million), and CNY 2.5 billion ($ 344 million). </context> | us-gaap:DerivativeAssetNotionalAmount |
Cross-currency contracts with notional amounts of C$ 1.4 billion ($ 1.0 billion), € 2.8 billion ($ 3.0 billion), JPY 9.6 billion ($ 68 million), and CNY 2.5 billion ($ 344 million). | text | 3.0 | monetaryItemType | text: <entity> 3.0 </entity> <entity type> monetaryItemType </entity type> <context> Cross-currency contracts with notional amounts of C$ 1.4 billion ($ 1.0 billion), € 2.8 billion ($ 3.0 billion), JPY 9.6 billion ($ 68 million), and CNY 2.5 billion ($ 344 million). </context> | us-gaap:DerivativeAssetNotionalAmount |
Cross-currency contracts with notional amounts of C$ 1.4 billion ($ 1.0 billion), € 2.8 billion ($ 3.0 billion), JPY 9.6 billion ($ 68 million), and CNY 2.5 billion ($ 344 million). | text | 9.6 | monetaryItemType | text: <entity> 9.6 </entity> <entity type> monetaryItemType </entity type> <context> Cross-currency contracts with notional amounts of C$ 1.4 billion ($ 1.0 billion), € 2.8 billion ($ 3.0 billion), JPY 9.6 billion ($ 68 million), and CNY 2.5 billion ($ 344 million). </context> | us-gaap:DerivativeLiabilityNotionalAmount |
Cross-currency contracts with notional amounts of C$ 1.4 billion ($ 1.0 billion), € 2.8 billion ($ 3.0 billion), JPY 9.6 billion ($ 68 million), and CNY 2.5 billion ($ 344 million). | text | 68 | monetaryItemType | text: <entity> 68 </entity> <entity type> monetaryItemType </entity type> <context> Cross-currency contracts with notional amounts of C$ 1.4 billion ($ 1.0 billion), € 2.8 billion ($ 3.0 billion), JPY 9.6 billion ($ 68 million), and CNY 2.5 billion ($ 344 million). </context> | us-gaap:DerivativeLiabilityNotionalAmount |
Cross-currency contracts with notional amounts of C$ 1.4 billion ($ 1.0 billion), € 2.8 billion ($ 3.0 billion), JPY 9.6 billion ($ 68 million), and CNY 2.5 billion ($ 344 million). | text | 2.5 | monetaryItemType | text: <entity> 2.5 </entity> <entity type> monetaryItemType </entity type> <context> Cross-currency contracts with notional amounts of C$ 1.4 billion ($ 1.0 billion), € 2.8 billion ($ 3.0 billion), JPY 9.6 billion ($ 68 million), and CNY 2.5 billion ($ 344 million). </context> | us-gaap:DerivativeLiabilityNotionalAmount |
Cross-currency contracts with notional amounts of C$ 1.4 billion ($ 1.0 billion), € 2.8 billion ($ 3.0 billion), JPY 9.6 billion ($ 68 million), and CNY 2.5 billion ($ 344 million). | text | 344 | monetaryItemType | text: <entity> 344 </entity> <entity type> monetaryItemType </entity type> <context> Cross-currency contracts with notional amounts of C$ 1.4 billion ($ 1.0 billion), € 2.8 billion ($ 3.0 billion), JPY 9.6 billion ($ 68 million), and CNY 2.5 billion ($ 344 million). </context> | us-gaap:DerivativeLiabilityNotionalAmount |
In 2024, we designated cross-currency contracts as fair value hedges of the foreign currency exposure of foreign currency denominated intercompany loans. At December 28, 2024, the notional amounts of the cross-currency contracts were £ 683 million ($ 864 million) and MXN 4.8 billion ($ 251 million) and the carrying value of the hedged items was $ 1.1 billion. The gains/(losses) on the hedged items, driven by changes in foreign exchange rates, are economically offset by fair value movements on the effective portion of our cross-currency contract, which is reported in the same income statement line item in the same period. The amounts excluded from the assessment of effectiveness are recognized in earnings over the life of the hedge on a systematic and rational basis in the same line item as the hedged items. | text | 683 | monetaryItemType | text: <entity> 683 </entity> <entity type> monetaryItemType </entity type> <context> In 2024, we designated cross-currency contracts as fair value hedges of the foreign currency exposure of foreign currency denominated intercompany loans. At December 28, 2024, the notional amounts of the cross-currency contracts were £ 683 million ($ 864 million) and MXN 4.8 billion ($ 251 million) and the carrying value of the hedged items was $ 1.1 billion. The gains/(losses) on the hedged items, driven by changes in foreign exchange rates, are economically offset by fair value movements on the effective portion of our cross-currency contract, which is reported in the same income statement line item in the same period. The amounts excluded from the assessment of effectiveness are recognized in earnings over the life of the hedge on a systematic and rational basis in the same line item as the hedged items. </context> | us-gaap:DerivativeLiabilityNotionalAmount |
In 2024, we designated cross-currency contracts as fair value hedges of the foreign currency exposure of foreign currency denominated intercompany loans. At December 28, 2024, the notional amounts of the cross-currency contracts were £ 683 million ($ 864 million) and MXN 4.8 billion ($ 251 million) and the carrying value of the hedged items was $ 1.1 billion. The gains/(losses) on the hedged items, driven by changes in foreign exchange rates, are economically offset by fair value movements on the effective portion of our cross-currency contract, which is reported in the same income statement line item in the same period. The amounts excluded from the assessment of effectiveness are recognized in earnings over the life of the hedge on a systematic and rational basis in the same line item as the hedged items. | text | 864 | monetaryItemType | text: <entity> 864 </entity> <entity type> monetaryItemType </entity type> <context> In 2024, we designated cross-currency contracts as fair value hedges of the foreign currency exposure of foreign currency denominated intercompany loans. At December 28, 2024, the notional amounts of the cross-currency contracts were £ 683 million ($ 864 million) and MXN 4.8 billion ($ 251 million) and the carrying value of the hedged items was $ 1.1 billion. The gains/(losses) on the hedged items, driven by changes in foreign exchange rates, are economically offset by fair value movements on the effective portion of our cross-currency contract, which is reported in the same income statement line item in the same period. The amounts excluded from the assessment of effectiveness are recognized in earnings over the life of the hedge on a systematic and rational basis in the same line item as the hedged items. </context> | us-gaap:DerivativeLiabilityNotionalAmount |
In 2024, we designated cross-currency contracts as fair value hedges of the foreign currency exposure of foreign currency denominated intercompany loans. At December 28, 2024, the notional amounts of the cross-currency contracts were £ 683 million ($ 864 million) and MXN 4.8 billion ($ 251 million) and the carrying value of the hedged items was $ 1.1 billion. The gains/(losses) on the hedged items, driven by changes in foreign exchange rates, are economically offset by fair value movements on the effective portion of our cross-currency contract, which is reported in the same income statement line item in the same period. The amounts excluded from the assessment of effectiveness are recognized in earnings over the life of the hedge on a systematic and rational basis in the same line item as the hedged items. | text | 4.8 | monetaryItemType | text: <entity> 4.8 </entity> <entity type> monetaryItemType </entity type> <context> In 2024, we designated cross-currency contracts as fair value hedges of the foreign currency exposure of foreign currency denominated intercompany loans. At December 28, 2024, the notional amounts of the cross-currency contracts were £ 683 million ($ 864 million) and MXN 4.8 billion ($ 251 million) and the carrying value of the hedged items was $ 1.1 billion. The gains/(losses) on the hedged items, driven by changes in foreign exchange rates, are economically offset by fair value movements on the effective portion of our cross-currency contract, which is reported in the same income statement line item in the same period. The amounts excluded from the assessment of effectiveness are recognized in earnings over the life of the hedge on a systematic and rational basis in the same line item as the hedged items. </context> | us-gaap:DerivativeLiabilityNotionalAmount |
In 2024, we designated cross-currency contracts as fair value hedges of the foreign currency exposure of foreign currency denominated intercompany loans. At December 28, 2024, the notional amounts of the cross-currency contracts were £ 683 million ($ 864 million) and MXN 4.8 billion ($ 251 million) and the carrying value of the hedged items was $ 1.1 billion. The gains/(losses) on the hedged items, driven by changes in foreign exchange rates, are economically offset by fair value movements on the effective portion of our cross-currency contract, which is reported in the same income statement line item in the same period. The amounts excluded from the assessment of effectiveness are recognized in earnings over the life of the hedge on a systematic and rational basis in the same line item as the hedged items. | text | 251 | monetaryItemType | text: <entity> 251 </entity> <entity type> monetaryItemType </entity type> <context> In 2024, we designated cross-currency contracts as fair value hedges of the foreign currency exposure of foreign currency denominated intercompany loans. At December 28, 2024, the notional amounts of the cross-currency contracts were £ 683 million ($ 864 million) and MXN 4.8 billion ($ 251 million) and the carrying value of the hedged items was $ 1.1 billion. The gains/(losses) on the hedged items, driven by changes in foreign exchange rates, are economically offset by fair value movements on the effective portion of our cross-currency contract, which is reported in the same income statement line item in the same period. The amounts excluded from the assessment of effectiveness are recognized in earnings over the life of the hedge on a systematic and rational basis in the same line item as the hedged items. </context> | us-gaap:DerivativeLiabilityNotionalAmount |
In 2024, we designated cross-currency contracts as fair value hedges of the foreign currency exposure of foreign currency denominated intercompany loans. At December 28, 2024, the notional amounts of the cross-currency contracts were £ 683 million ($ 864 million) and MXN 4.8 billion ($ 251 million) and the carrying value of the hedged items was $ 1.1 billion. The gains/(losses) on the hedged items, driven by changes in foreign exchange rates, are economically offset by fair value movements on the effective portion of our cross-currency contract, which is reported in the same income statement line item in the same period. The amounts excluded from the assessment of effectiveness are recognized in earnings over the life of the hedge on a systematic and rational basis in the same line item as the hedged items. | text | 1.1 | monetaryItemType | text: <entity> 1.1 </entity> <entity type> monetaryItemType </entity type> <context> In 2024, we designated cross-currency contracts as fair value hedges of the foreign currency exposure of foreign currency denominated intercompany loans. At December 28, 2024, the notional amounts of the cross-currency contracts were £ 683 million ($ 864 million) and MXN 4.8 billion ($ 251 million) and the carrying value of the hedged items was $ 1.1 billion. The gains/(losses) on the hedged items, driven by changes in foreign exchange rates, are economically offset by fair value movements on the effective portion of our cross-currency contract, which is reported in the same income statement line item in the same period. The amounts excluded from the assessment of effectiveness are recognized in earnings over the life of the hedge on a systematic and rational basis in the same line item as the hedged items. </context> | us-gaap:DerivativeAmountOfHedgedItem |
Based on our valuation at December 28, 2024 and assuming market rates remain constant through contract maturities, we expect transfers to net income/(loss) of the existing losses reported in accumulated other comprehensive income/(losses) on interest rate cash flow hedges and cross-currency fair value hedges during the next 12 months to be insignificant. Additionally, we expect transfers to net income/(loss) of the existing gains reported in accumulated other comprehensive income/(losses) during the next 12 months on foreign-currency cash flow hedges to be approximately $ 26 million and on cross-currency cash flow hedges to be insignificant. | text | 26 | monetaryItemType | text: <entity> 26 </entity> <entity type> monetaryItemType </entity type> <context> Based on our valuation at December 28, 2024 and assuming market rates remain constant through contract maturities, we expect transfers to net income/(loss) of the existing losses reported in accumulated other comprehensive income/(losses) on interest rate cash flow hedges and cross-currency fair value hedges during the next 12 months to be insignificant. Additionally, we expect transfers to net income/(loss) of the existing gains reported in accumulated other comprehensive income/(losses) during the next 12 months on foreign-currency cash flow hedges to be approximately $ 26 million and on cross-currency cash flow hedges to be insignificant. </context> | us-gaap:DerivativeGainLossOnDerivativeNet |
We entered into foreign exchange derivative contracts to economically hedge the foreign currency exposure related to the cash consideration for the Hemmer Acquisition. These derivative contracts settled in our second quarter of 2022. The related derivative gains were $ 38 million, and were recorded within other expense/(income). These gains are classified as other losses/ | text | 38 | monetaryItemType | text: <entity> 38 </entity> <entity type> monetaryItemType </entity type> <context> We entered into foreign exchange derivative contracts to economically hedge the foreign currency exposure related to the cash consideration for the Hemmer Acquisition. These derivative contracts settled in our second quarter of 2022. The related derivative gains were $ 38 million, and were recorded within other expense/(income). These gains are classified as other losses/ </context> | us-gaap:DerivativeGainLossOnDerivativeNet |
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 consolidated balance sheet. The accounts receivable factoring program was not utilized in 2024 as there were no receivables sold under the program during 2024, and no amounts were outstanding as of December 28, 2024. There were no incremental costs of factoring receivables under this arrangement for the year ended December 28, 2024. Receivables sold under this accounts receivable factoring program were approximately $ 863 million during 2023, with no amounts outstanding as of December 30, 2023. The incremental costs of factoring receivables under this arrangement were insignificant for the year ended December 30, 2023. Receivables sold under this accounts receivable factoring program were approximately $ 197 million during 2022, with an insignificant amount outstanding as of December 31, 2022. The incremental costs of factoring receivables under this arrangement were insignificant for the year ended December 31, 2022. The proceeds from the sales of receivables are included in cash from operating activities in the consolidated statement of cash flows. As of December 28, 2024, the Company has elected not to renew the accounts receivable factoring program. There were no outstanding obligations at the time the program was terminated. | text | no | monetaryItemType | text: <entity> no </entity> <entity type> monetaryItemType </entity type> <context> 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 consolidated balance sheet. The accounts receivable factoring program was not utilized in 2024 as there were no receivables sold under the program during 2024, and no amounts were outstanding as of December 28, 2024. There were no incremental costs of factoring receivables under this arrangement for the year ended December 28, 2024. Receivables sold under this accounts receivable factoring program were approximately $ 863 million during 2023, with no amounts outstanding as of December 30, 2023. The incremental costs of factoring receivables under this arrangement were insignificant for the year ended December 30, 2023. Receivables sold under this accounts receivable factoring program were approximately $ 197 million during 2022, with an insignificant amount outstanding as of December 31, 2022. The incremental costs of factoring receivables under this arrangement were insignificant for the year ended December 31, 2022. The proceeds from the sales of receivables are included in cash from operating activities in the consolidated statement of cash flows. As of December 28, 2024, the Company has elected not to renew the accounts receivable factoring program. There were no outstanding obligations at the time the program was terminated. </context> | us-gaap:TransferOfFinancialAssetsAccountedForAsSalesCashProceedsReceivedForAssetsDerecognizedAmount |
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 consolidated balance sheet. The accounts receivable factoring program was not utilized in 2024 as there were no receivables sold under the program during 2024, and no amounts were outstanding as of December 28, 2024. There were no incremental costs of factoring receivables under this arrangement for the year ended December 28, 2024. Receivables sold under this accounts receivable factoring program were approximately $ 863 million during 2023, with no amounts outstanding as of December 30, 2023. The incremental costs of factoring receivables under this arrangement were insignificant for the year ended December 30, 2023. Receivables sold under this accounts receivable factoring program were approximately $ 197 million during 2022, with an insignificant amount outstanding as of December 31, 2022. The incremental costs of factoring receivables under this arrangement were insignificant for the year ended December 31, 2022. The proceeds from the sales of receivables are included in cash from operating activities in the consolidated statement of cash flows. As of December 28, 2024, the Company has elected not to renew the accounts receivable factoring program. There were no outstanding obligations at the time the program was terminated. | text | 863 | monetaryItemType | text: <entity> 863 </entity> <entity type> monetaryItemType </entity type> <context> 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 consolidated balance sheet. The accounts receivable factoring program was not utilized in 2024 as there were no receivables sold under the program during 2024, and no amounts were outstanding as of December 28, 2024. There were no incremental costs of factoring receivables under this arrangement for the year ended December 28, 2024. Receivables sold under this accounts receivable factoring program were approximately $ 863 million during 2023, with no amounts outstanding as of December 30, 2023. The incremental costs of factoring receivables under this arrangement were insignificant for the year ended December 30, 2023. Receivables sold under this accounts receivable factoring program were approximately $ 197 million during 2022, with an insignificant amount outstanding as of December 31, 2022. The incremental costs of factoring receivables under this arrangement were insignificant for the year ended December 31, 2022. The proceeds from the sales of receivables are included in cash from operating activities in the consolidated statement of cash flows. As of December 28, 2024, the Company has elected not to renew the accounts receivable factoring program. There were no outstanding obligations at the time the program was terminated. </context> | us-gaap:TransferOfFinancialAssetsAccountedForAsSalesCashProceedsReceivedForAssetsDerecognizedAmount |
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 consolidated balance sheet. The accounts receivable factoring program was not utilized in 2024 as there were no receivables sold under the program during 2024, and no amounts were outstanding as of December 28, 2024. There were no incremental costs of factoring receivables under this arrangement for the year ended December 28, 2024. Receivables sold under this accounts receivable factoring program were approximately $ 863 million during 2023, with no amounts outstanding as of December 30, 2023. The incremental costs of factoring receivables under this arrangement were insignificant for the year ended December 30, 2023. Receivables sold under this accounts receivable factoring program were approximately $ 197 million during 2022, with an insignificant amount outstanding as of December 31, 2022. The incremental costs of factoring receivables under this arrangement were insignificant for the year ended December 31, 2022. The proceeds from the sales of receivables are included in cash from operating activities in the consolidated statement of cash flows. As of December 28, 2024, the Company has elected not to renew the accounts receivable factoring program. There were no outstanding obligations at the time the program was terminated. | text | 197 | monetaryItemType | text: <entity> 197 </entity> <entity type> monetaryItemType </entity type> <context> 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 consolidated balance sheet. The accounts receivable factoring program was not utilized in 2024 as there were no receivables sold under the program during 2024, and no amounts were outstanding as of December 28, 2024. There were no incremental costs of factoring receivables under this arrangement for the year ended December 28, 2024. Receivables sold under this accounts receivable factoring program were approximately $ 863 million during 2023, with no amounts outstanding as of December 30, 2023. The incremental costs of factoring receivables under this arrangement were insignificant for the year ended December 30, 2023. Receivables sold under this accounts receivable factoring program were approximately $ 197 million during 2022, with an insignificant amount outstanding as of December 31, 2022. The incremental costs of factoring receivables under this arrangement were insignificant for the year ended December 31, 2022. The proceeds from the sales of receivables are included in cash from operating activities in the consolidated statement of cash flows. As of December 28, 2024, the Company has elected not to renew the accounts receivable factoring program. There were no outstanding obligations at the time the program was terminated. </context> | us-gaap:TransferOfFinancialAssetsAccountedForAsSalesCashProceedsReceivedForAssetsDerecognizedAmount |
We maintain agreements with third-party administrators that allow participating suppliers to track payment obligations from us, and, at the sole discretion of the supplier, sell one or more of those payment obligations to participating financial institutions. We have no economic interest in a supplier’s decision to enter into these agreements and no direct financial relationship with the financial institutions related to these programs. We pledged no assets or other forms of guarantees in connection with our trade payable programs. Our obligations to our suppliers, including amounts due and scheduled payment terms, are not impacted. Our current payment terms with our suppliers, which we deem to be commercially reasonable, generally range from 0 to 250 days. All amounts due to participating suppliers are paid to the third party on the original invoice due dates, regardless of whether a particular invoice was sold. Supplier participation in these agreements is voluntary. The amounts confirmed outstanding under these programs were $ 745 million at December 28, 2024 and $ 819 million at December 30, 2023. The amounts were included in trade payables on our consolidated balance sheets. During 2024, we added $ 2,669 million of obligations to these programs and settled $ 2,743 million of obligations. | text | 2669 | monetaryItemType | text: <entity> 2669 </entity> <entity type> monetaryItemType </entity type> <context> We maintain agreements with third-party administrators that allow participating suppliers to track payment obligations from us, and, at the sole discretion of the supplier, sell one or more of those payment obligations to participating financial institutions. We have no economic interest in a supplier’s decision to enter into these agreements and no direct financial relationship with the financial institutions related to these programs. We pledged no assets or other forms of guarantees in connection with our trade payable programs. Our obligations to our suppliers, including amounts due and scheduled payment terms, are not impacted. Our current payment terms with our suppliers, which we deem to be commercially reasonable, generally range from 0 to 250 days. All amounts due to participating suppliers are paid to the third party on the original invoice due dates, regardless of whether a particular invoice was sold. Supplier participation in these agreements is voluntary. The amounts confirmed outstanding under these programs were $ 745 million at December 28, 2024 and $ 819 million at December 30, 2023. The amounts were included in trade payables on our consolidated balance sheets. During 2024, we added $ 2,669 million of obligations to these programs and settled $ 2,743 million of obligations. </context> | us-gaap:IncreaseDecreaseInAccountsPayableTrade |
We maintain agreements with third-party administrators that allow participating suppliers to track payment obligations from us, and, at the sole discretion of the supplier, sell one or more of those payment obligations to participating financial institutions. We have no economic interest in a supplier’s decision to enter into these agreements and no direct financial relationship with the financial institutions related to these programs. We pledged no assets or other forms of guarantees in connection with our trade payable programs. Our obligations to our suppliers, including amounts due and scheduled payment terms, are not impacted. Our current payment terms with our suppliers, which we deem to be commercially reasonable, generally range from 0 to 250 days. All amounts due to participating suppliers are paid to the third party on the original invoice due dates, regardless of whether a particular invoice was sold. Supplier participation in these agreements is voluntary. The amounts confirmed outstanding under these programs were $ 745 million at December 28, 2024 and $ 819 million at December 30, 2023. The amounts were included in trade payables on our consolidated balance sheets. During 2024, we added $ 2,669 million of obligations to these programs and settled $ 2,743 million of obligations. | text | 2743 | monetaryItemType | text: <entity> 2743 </entity> <entity type> monetaryItemType </entity type> <context> We maintain agreements with third-party administrators that allow participating suppliers to track payment obligations from us, and, at the sole discretion of the supplier, sell one or more of those payment obligations to participating financial institutions. We have no economic interest in a supplier’s decision to enter into these agreements and no direct financial relationship with the financial institutions related to these programs. We pledged no assets or other forms of guarantees in connection with our trade payable programs. Our obligations to our suppliers, including amounts due and scheduled payment terms, are not impacted. Our current payment terms with our suppliers, which we deem to be commercially reasonable, generally range from 0 to 250 days. All amounts due to participating suppliers are paid to the third party on the original invoice due dates, regardless of whether a particular invoice was sold. Supplier participation in these agreements is voluntary. The amounts confirmed outstanding under these programs were $ 745 million at December 28, 2024 and $ 819 million at December 30, 2023. The amounts were included in trade payables on our consolidated balance sheets. During 2024, we added $ 2,669 million of obligations to these programs and settled $ 2,743 million of obligations. </context> | us-gaap:IncreaseDecreaseInAccountsPayableTrade |
The consolidated amended class action complaint, which was filed on August 14, 2020 and also named 3G Capital, Inc. and several of its subsidiaries and affiliates (the “3G Entities”) as defendants, asserted 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 alleged the 3G Entities engaged in insider trading and misappropriated the Company’s material, non-public information. In February 2023, the parties to the litigation reached a preliminary class settlement agreement. Related to that agreement, we recorded a net expense of $ 210 million within SG&A in our consolidated statements of income for the fourth quarter of 2022, representative of the Company’s then-estimated liability after insurance recoveries and contributions from other defendants. The Company’s then-estimated liability and the insurance recoveries are reflected in current liabilities and current assets on the consolidated balance sheets at December 31, 2022. In the third quarter of 2023, we paid our remaining liability after insurance recoveries. On September 12, 2023, the United States District Court for the Northern District of Illinois issued a Judgment Approving Class Action Settlement, wherein it granted final approval of the class settlement and dismissed the lawsuit with prejudice. | text | 210 | monetaryItemType | text: <entity> 210 </entity> <entity type> monetaryItemType </entity type> <context> The consolidated amended class action complaint, which was filed on August 14, 2020 and also named 3G Capital, Inc. and several of its subsidiaries and affiliates (the “3G Entities”) as defendants, asserted 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 alleged the 3G Entities engaged in insider trading and misappropriated the Company’s material, non-public information. In February 2023, the parties to the litigation reached a preliminary class settlement agreement. Related to that agreement, we recorded a net expense of $ 210 million within SG&A in our consolidated statements of income for the fourth quarter of 2022, representative of the Company’s then-estimated liability after insurance recoveries and contributions from other defendants. The Company’s then-estimated liability and the insurance recoveries are reflected in current liabilities and current assets on the consolidated balance sheets at December 31, 2022. In the third quarter of 2023, we paid our remaining liability after insurance recoveries. On September 12, 2023, the United States District Court for the Northern District of Illinois issued a Judgment Approving Class Action Settlement, wherein it granted final approval of the class settlement and dismissed the lawsuit with prejudice. </context> | us-gaap:PaymentsForLegalSettlements |
Together with Kraft Heinz Foods Company (“KHFC”), our 100% owned operating subsidiary, we have a credit agreement (the “Credit Agreement”), which provides for a five-year senior unsecured revolving credit facility in an aggregate amount of $ 4.0 billion (the “Senior Credit Facility”). On September 27, 2024, we entered into an agreement to extend the maturity date of our Senior Credit Facility from July 8, 2028 to July 8, 2029. | text | 4.0 | monetaryItemType | text: <entity> 4.0 </entity> <entity type> monetaryItemType </entity type> <context> Together with Kraft Heinz Foods Company (“KHFC”), our 100% owned operating subsidiary, we have a credit agreement (the “Credit Agreement”), which provides for a five-year senior unsecured revolving credit facility in an aggregate amount of $ 4.0 billion (the “Senior Credit Facility”). On September 27, 2024, we entered into an agreement to extend the maturity date of our Senior Credit Facility from July 8, 2028 to July 8, 2029. </context> | us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity |
The Credit Agreement includes a $ 1.0 billion sublimit for borrowings in Canadian dollars, euro, or British pound sterling, as well as a swingline sub-facility of up to $ 400 million, and a letter of credit sub-facility of up to $ 300 million. Additionally, and subject to certain conditions, we may increase the amount of revolving commitments and/or add tranches of term loans in a combined aggregate amount of up to $ 1.0 billion. | text | 1.0 | monetaryItemType | text: <entity> 1.0 </entity> <entity type> monetaryItemType </entity type> <context> The Credit Agreement includes a $ 1.0 billion sublimit for borrowings in Canadian dollars, euro, or British pound sterling, as well as a swingline sub-facility of up to $ 400 million, and a letter of credit sub-facility of up to $ 300 million. Additionally, and subject to certain conditions, we may increase the amount of revolving commitments and/or add tranches of term loans in a combined aggregate amount of up to $ 1.0 billion. </context> | us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity |
The Credit Agreement includes a $ 1.0 billion sublimit for borrowings in Canadian dollars, euro, or British pound sterling, as well as a swingline sub-facility of up to $ 400 million, and a letter of credit sub-facility of up to $ 300 million. Additionally, and subject to certain conditions, we may increase the amount of revolving commitments and/or add tranches of term loans in a combined aggregate amount of up to $ 1.0 billion. | text | 400 | monetaryItemType | text: <entity> 400 </entity> <entity type> monetaryItemType </entity type> <context> The Credit Agreement includes a $ 1.0 billion sublimit for borrowings in Canadian dollars, euro, or British pound sterling, as well as a swingline sub-facility of up to $ 400 million, and a letter of credit sub-facility of up to $ 300 million. Additionally, and subject to certain conditions, we may increase the amount of revolving commitments and/or add tranches of term loans in a combined aggregate amount of up to $ 1.0 billion. </context> | us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity |
The Credit Agreement includes a $ 1.0 billion sublimit for borrowings in Canadian dollars, euro, or British pound sterling, as well as a swingline sub-facility of up to $ 400 million, and a letter of credit sub-facility of up to $ 300 million. Additionally, and subject to certain conditions, we may increase the amount of revolving commitments and/or add tranches of term loans in a combined aggregate amount of up to $ 1.0 billion. | text | 300 | monetaryItemType | text: <entity> 300 </entity> <entity type> monetaryItemType </entity type> <context> The Credit Agreement includes a $ 1.0 billion sublimit for borrowings in Canadian dollars, euro, or British pound sterling, as well as a swingline sub-facility of up to $ 400 million, and a letter of credit sub-facility of up to $ 300 million. Additionally, and subject to certain conditions, we may increase the amount of revolving commitments and/or add tranches of term loans in a combined aggregate amount of up to $ 1.0 billion. </context> | us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity |
From time to time, we obtain funding through our commercial paper programs. We had no commercial paper outstanding at December 28, 2024 or at December 30, 2023. We had no commercial paper outstanding during the year ended December 28, 2024, and the maximum amount of commercial paper outstanding was $ 150 million during the year ended and December 30, 2023. | text | no | monetaryItemType | text: <entity> no </entity> <entity type> monetaryItemType </entity type> <context> From time to time, we obtain funding through our commercial paper programs. We had no commercial paper outstanding at December 28, 2024 or at December 30, 2023. We had no commercial paper outstanding during the year ended December 28, 2024, and the maximum amount of commercial paper outstanding was $ 150 million during the year ended and December 30, 2023. </context> | us-gaap:LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod |
From time to time, we obtain funding through our commercial paper programs. We had no commercial paper outstanding at December 28, 2024 or at December 30, 2023. We had no commercial paper outstanding during the year ended December 28, 2024, and the maximum amount of commercial paper outstanding was $ 150 million during the year ended and December 30, 2023. | text | 150 | monetaryItemType | text: <entity> 150 </entity> <entity type> monetaryItemType </entity type> <context> From time to time, we obtain funding through our commercial paper programs. We had no commercial paper outstanding at December 28, 2024 or at December 30, 2023. We had no commercial paper outstanding during the year ended December 28, 2024, and the maximum amount of commercial paper outstanding was $ 150 million during the year ended and December 30, 2023. </context> | us-gaap:LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod |
(d) The 6.250 % Pound Sterling Senior Notes due February 18, 2030 (the “2030 Notes”) were issued by H.J. Heinz Finance UK Plc. Kraft Heinz and KHFC fully and unconditionally guarantee the 2030 Notes. The 2030 Notes rank | text | 6.250 | percentItemType | text: <entity> 6.250 </entity> <entity type> percentItemType </entity type> <context> (d) The 6.250 % Pound Sterling Senior Notes due February 18, 2030 (the “2030 Notes”) were issued by H.J. Heinz Finance UK Plc. Kraft Heinz and KHFC fully and unconditionally guarantee the 2030 Notes. The 2030 Notes rank </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
In 2022, we repurchased approximately $ 755 million of certain of our senior notes under Rule 10b5-1 plans, including $ 268 million in the second quarter of 2022 (the “Q2 2022 Repurchases”), $ 180 million in the third quarter of 2022 (the “Q3 2022 Repurchases”), and $ 307 million in the fourth quarter of 2022 (the “Q4 2022 Repurchases” and, together with the Q2 2022 Repurchases and the Q3 2022 Repurchases, the “2022 Repurchases”). | text | 755 | monetaryItemType | text: <entity> 755 </entity> <entity type> monetaryItemType </entity type> <context> In 2022, we repurchased approximately $ 755 million of certain of our senior notes under Rule 10b5-1 plans, including $ 268 million in the second quarter of 2022 (the “Q2 2022 Repurchases”), $ 180 million in the third quarter of 2022 (the “Q3 2022 Repurchases”), and $ 307 million in the fourth quarter of 2022 (the “Q4 2022 Repurchases” and, together with the Q2 2022 Repurchases and the Q3 2022 Repurchases, the “2022 Repurchases”). </context> | us-gaap:EarlyRepaymentOfSeniorDebt |
In 2022, we repurchased approximately $ 755 million of certain of our senior notes under Rule 10b5-1 plans, including $ 268 million in the second quarter of 2022 (the “Q2 2022 Repurchases”), $ 180 million in the third quarter of 2022 (the “Q3 2022 Repurchases”), and $ 307 million in the fourth quarter of 2022 (the “Q4 2022 Repurchases” and, together with the Q2 2022 Repurchases and the Q3 2022 Repurchases, the “2022 Repurchases”). | text | 268 | monetaryItemType | text: <entity> 268 </entity> <entity type> monetaryItemType </entity type> <context> In 2022, we repurchased approximately $ 755 million of certain of our senior notes under Rule 10b5-1 plans, including $ 268 million in the second quarter of 2022 (the “Q2 2022 Repurchases”), $ 180 million in the third quarter of 2022 (the “Q3 2022 Repurchases”), and $ 307 million in the fourth quarter of 2022 (the “Q4 2022 Repurchases” and, together with the Q2 2022 Repurchases and the Q3 2022 Repurchases, the “2022 Repurchases”). </context> | us-gaap:EarlyRepaymentOfSeniorDebt |
In 2022, we repurchased approximately $ 755 million of certain of our senior notes under Rule 10b5-1 plans, including $ 268 million in the second quarter of 2022 (the “Q2 2022 Repurchases”), $ 180 million in the third quarter of 2022 (the “Q3 2022 Repurchases”), and $ 307 million in the fourth quarter of 2022 (the “Q4 2022 Repurchases” and, together with the Q2 2022 Repurchases and the Q3 2022 Repurchases, the “2022 Repurchases”). | text | 180 | monetaryItemType | text: <entity> 180 </entity> <entity type> monetaryItemType </entity type> <context> In 2022, we repurchased approximately $ 755 million of certain of our senior notes under Rule 10b5-1 plans, including $ 268 million in the second quarter of 2022 (the “Q2 2022 Repurchases”), $ 180 million in the third quarter of 2022 (the “Q3 2022 Repurchases”), and $ 307 million in the fourth quarter of 2022 (the “Q4 2022 Repurchases” and, together with the Q2 2022 Repurchases and the Q3 2022 Repurchases, the “2022 Repurchases”). </context> | us-gaap:EarlyRepaymentOfSeniorDebt |
In 2022, we repurchased approximately $ 755 million of certain of our senior notes under Rule 10b5-1 plans, including $ 268 million in the second quarter of 2022 (the “Q2 2022 Repurchases”), $ 180 million in the third quarter of 2022 (the “Q3 2022 Repurchases”), and $ 307 million in the fourth quarter of 2022 (the “Q4 2022 Repurchases” and, together with the Q2 2022 Repurchases and the Q3 2022 Repurchases, the “2022 Repurchases”). | text | 307 | monetaryItemType | text: <entity> 307 </entity> <entity type> monetaryItemType </entity type> <context> In 2022, we repurchased approximately $ 755 million of certain of our senior notes under Rule 10b5-1 plans, including $ 268 million in the second quarter of 2022 (the “Q2 2022 Repurchases”), $ 180 million in the third quarter of 2022 (the “Q3 2022 Repurchases”), and $ 307 million in the fourth quarter of 2022 (the “Q4 2022 Repurchases” and, together with the Q2 2022 Repurchases and the Q3 2022 Repurchases, the “2022 Repurchases”). </context> | us-gaap:EarlyRepaymentOfSeniorDebt |
In connection with the 2022 Repurchases, we recognized a net gain on extinguishment of debt of approximately $ 38 million within interest expense on the consolidated statement of income for the year ended December 31, 2022, which included a net gain of $ 9 million in the second quarter of 2022 related to the Q2 2022 Repurchases, a net gain of $ 3 million in the third quarter of 2022 related to the Q3 2022 Repurchases, and a net gain of $ 26 million in the fourth quarter related to the Q4 2022 Repurchases. This gain primarily reflects the write-off of unamortized premiums and a net discount associated with the 2022 Repurchases. Related to the 2022 Repurchases, we recognized a debt prepayment and extinguishment benefit of $ 10 million on the consolidated statement of cash flows for the year ended December 31, 2022, which reflect the $ 38 million net gain on extinguishment of debt adjusted for the non-cash write-off of unamortized premiums of $ 33 million, unamortized debt issuance costs of $ 3 million, and unamortized discounts of $ 2 million. | text | 38 | monetaryItemType | text: <entity> 38 </entity> <entity type> monetaryItemType </entity type> <context> In connection with the 2022 Repurchases, we recognized a net gain on extinguishment of debt of approximately $ 38 million within interest expense on the consolidated statement of income for the year ended December 31, 2022, which included a net gain of $ 9 million in the second quarter of 2022 related to the Q2 2022 Repurchases, a net gain of $ 3 million in the third quarter of 2022 related to the Q3 2022 Repurchases, and a net gain of $ 26 million in the fourth quarter related to the Q4 2022 Repurchases. This gain primarily reflects the write-off of unamortized premiums and a net discount associated with the 2022 Repurchases. Related to the 2022 Repurchases, we recognized a debt prepayment and extinguishment benefit of $ 10 million on the consolidated statement of cash flows for the year ended December 31, 2022, which reflect the $ 38 million net gain on extinguishment of debt adjusted for the non-cash write-off of unamortized premiums of $ 33 million, unamortized debt issuance costs of $ 3 million, and unamortized discounts of $ 2 million. </context> | us-gaap:GainsLossesOnExtinguishmentOfDebt |
In connection with the 2022 Repurchases, we recognized a net gain on extinguishment of debt of approximately $ 38 million within interest expense on the consolidated statement of income for the year ended December 31, 2022, which included a net gain of $ 9 million in the second quarter of 2022 related to the Q2 2022 Repurchases, a net gain of $ 3 million in the third quarter of 2022 related to the Q3 2022 Repurchases, and a net gain of $ 26 million in the fourth quarter related to the Q4 2022 Repurchases. This gain primarily reflects the write-off of unamortized premiums and a net discount associated with the 2022 Repurchases. Related to the 2022 Repurchases, we recognized a debt prepayment and extinguishment benefit of $ 10 million on the consolidated statement of cash flows for the year ended December 31, 2022, which reflect the $ 38 million net gain on extinguishment of debt adjusted for the non-cash write-off of unamortized premiums of $ 33 million, unamortized debt issuance costs of $ 3 million, and unamortized discounts of $ 2 million. | text | 9 | monetaryItemType | text: <entity> 9 </entity> <entity type> monetaryItemType </entity type> <context> In connection with the 2022 Repurchases, we recognized a net gain on extinguishment of debt of approximately $ 38 million within interest expense on the consolidated statement of income for the year ended December 31, 2022, which included a net gain of $ 9 million in the second quarter of 2022 related to the Q2 2022 Repurchases, a net gain of $ 3 million in the third quarter of 2022 related to the Q3 2022 Repurchases, and a net gain of $ 26 million in the fourth quarter related to the Q4 2022 Repurchases. This gain primarily reflects the write-off of unamortized premiums and a net discount associated with the 2022 Repurchases. Related to the 2022 Repurchases, we recognized a debt prepayment and extinguishment benefit of $ 10 million on the consolidated statement of cash flows for the year ended December 31, 2022, which reflect the $ 38 million net gain on extinguishment of debt adjusted for the non-cash write-off of unamortized premiums of $ 33 million, unamortized debt issuance costs of $ 3 million, and unamortized discounts of $ 2 million. </context> | us-gaap:GainsLossesOnExtinguishmentOfDebt |
In connection with the 2022 Repurchases, we recognized a net gain on extinguishment of debt of approximately $ 38 million within interest expense on the consolidated statement of income for the year ended December 31, 2022, which included a net gain of $ 9 million in the second quarter of 2022 related to the Q2 2022 Repurchases, a net gain of $ 3 million in the third quarter of 2022 related to the Q3 2022 Repurchases, and a net gain of $ 26 million in the fourth quarter related to the Q4 2022 Repurchases. This gain primarily reflects the write-off of unamortized premiums and a net discount associated with the 2022 Repurchases. Related to the 2022 Repurchases, we recognized a debt prepayment and extinguishment benefit of $ 10 million on the consolidated statement of cash flows for the year ended December 31, 2022, which reflect the $ 38 million net gain on extinguishment of debt adjusted for the non-cash write-off of unamortized premiums of $ 33 million, unamortized debt issuance costs of $ 3 million, and unamortized discounts of $ 2 million. | text | 3 | monetaryItemType | text: <entity> 3 </entity> <entity type> monetaryItemType </entity type> <context> In connection with the 2022 Repurchases, we recognized a net gain on extinguishment of debt of approximately $ 38 million within interest expense on the consolidated statement of income for the year ended December 31, 2022, which included a net gain of $ 9 million in the second quarter of 2022 related to the Q2 2022 Repurchases, a net gain of $ 3 million in the third quarter of 2022 related to the Q3 2022 Repurchases, and a net gain of $ 26 million in the fourth quarter related to the Q4 2022 Repurchases. This gain primarily reflects the write-off of unamortized premiums and a net discount associated with the 2022 Repurchases. Related to the 2022 Repurchases, we recognized a debt prepayment and extinguishment benefit of $ 10 million on the consolidated statement of cash flows for the year ended December 31, 2022, which reflect the $ 38 million net gain on extinguishment of debt adjusted for the non-cash write-off of unamortized premiums of $ 33 million, unamortized debt issuance costs of $ 3 million, and unamortized discounts of $ 2 million. </context> | us-gaap:GainsLossesOnExtinguishmentOfDebt |
In connection with the 2022 Repurchases, we recognized a net gain on extinguishment of debt of approximately $ 38 million within interest expense on the consolidated statement of income for the year ended December 31, 2022, which included a net gain of $ 9 million in the second quarter of 2022 related to the Q2 2022 Repurchases, a net gain of $ 3 million in the third quarter of 2022 related to the Q3 2022 Repurchases, and a net gain of $ 26 million in the fourth quarter related to the Q4 2022 Repurchases. This gain primarily reflects the write-off of unamortized premiums and a net discount associated with the 2022 Repurchases. Related to the 2022 Repurchases, we recognized a debt prepayment and extinguishment benefit of $ 10 million on the consolidated statement of cash flows for the year ended December 31, 2022, which reflect the $ 38 million net gain on extinguishment of debt adjusted for the non-cash write-off of unamortized premiums of $ 33 million, unamortized debt issuance costs of $ 3 million, and unamortized discounts of $ 2 million. | text | 26 | monetaryItemType | text: <entity> 26 </entity> <entity type> monetaryItemType </entity type> <context> In connection with the 2022 Repurchases, we recognized a net gain on extinguishment of debt of approximately $ 38 million within interest expense on the consolidated statement of income for the year ended December 31, 2022, which included a net gain of $ 9 million in the second quarter of 2022 related to the Q2 2022 Repurchases, a net gain of $ 3 million in the third quarter of 2022 related to the Q3 2022 Repurchases, and a net gain of $ 26 million in the fourth quarter related to the Q4 2022 Repurchases. This gain primarily reflects the write-off of unamortized premiums and a net discount associated with the 2022 Repurchases. Related to the 2022 Repurchases, we recognized a debt prepayment and extinguishment benefit of $ 10 million on the consolidated statement of cash flows for the year ended December 31, 2022, which reflect the $ 38 million net gain on extinguishment of debt adjusted for the non-cash write-off of unamortized premiums of $ 33 million, unamortized debt issuance costs of $ 3 million, and unamortized discounts of $ 2 million. </context> | us-gaap:GainsLossesOnExtinguishmentOfDebt |
In connection with the 2022 Repurchases, we recognized a net gain on extinguishment of debt of approximately $ 38 million within interest expense on the consolidated statement of income for the year ended December 31, 2022, which included a net gain of $ 9 million in the second quarter of 2022 related to the Q2 2022 Repurchases, a net gain of $ 3 million in the third quarter of 2022 related to the Q3 2022 Repurchases, and a net gain of $ 26 million in the fourth quarter related to the Q4 2022 Repurchases. This gain primarily reflects the write-off of unamortized premiums and a net discount associated with the 2022 Repurchases. Related to the 2022 Repurchases, we recognized a debt prepayment and extinguishment benefit of $ 10 million on the consolidated statement of cash flows for the year ended December 31, 2022, which reflect the $ 38 million net gain on extinguishment of debt adjusted for the non-cash write-off of unamortized premiums of $ 33 million, unamortized debt issuance costs of $ 3 million, and unamortized discounts of $ 2 million. | text | 10 | monetaryItemType | text: <entity> 10 </entity> <entity type> monetaryItemType </entity type> <context> In connection with the 2022 Repurchases, we recognized a net gain on extinguishment of debt of approximately $ 38 million within interest expense on the consolidated statement of income for the year ended December 31, 2022, which included a net gain of $ 9 million in the second quarter of 2022 related to the Q2 2022 Repurchases, a net gain of $ 3 million in the third quarter of 2022 related to the Q3 2022 Repurchases, and a net gain of $ 26 million in the fourth quarter related to the Q4 2022 Repurchases. This gain primarily reflects the write-off of unamortized premiums and a net discount associated with the 2022 Repurchases. Related to the 2022 Repurchases, we recognized a debt prepayment and extinguishment benefit of $ 10 million on the consolidated statement of cash flows for the year ended December 31, 2022, which reflect the $ 38 million net gain on extinguishment of debt adjusted for the non-cash write-off of unamortized premiums of $ 33 million, unamortized debt issuance costs of $ 3 million, and unamortized discounts of $ 2 million. </context> | us-gaap:PaymentsOfDebtExtinguishmentCosts |
In connection with the 2022 Repurchases, we recognized a net gain on extinguishment of debt of approximately $ 38 million within interest expense on the consolidated statement of income for the year ended December 31, 2022, which included a net gain of $ 9 million in the second quarter of 2022 related to the Q2 2022 Repurchases, a net gain of $ 3 million in the third quarter of 2022 related to the Q3 2022 Repurchases, and a net gain of $ 26 million in the fourth quarter related to the Q4 2022 Repurchases. This gain primarily reflects the write-off of unamortized premiums and a net discount associated with the 2022 Repurchases. Related to the 2022 Repurchases, we recognized a debt prepayment and extinguishment benefit of $ 10 million on the consolidated statement of cash flows for the year ended December 31, 2022, which reflect the $ 38 million net gain on extinguishment of debt adjusted for the non-cash write-off of unamortized premiums of $ 33 million, unamortized debt issuance costs of $ 3 million, and unamortized discounts of $ 2 million. | text | 3 | monetaryItemType | text: <entity> 3 </entity> <entity type> monetaryItemType </entity type> <context> In connection with the 2022 Repurchases, we recognized a net gain on extinguishment of debt of approximately $ 38 million within interest expense on the consolidated statement of income for the year ended December 31, 2022, which included a net gain of $ 9 million in the second quarter of 2022 related to the Q2 2022 Repurchases, a net gain of $ 3 million in the third quarter of 2022 related to the Q3 2022 Repurchases, and a net gain of $ 26 million in the fourth quarter related to the Q4 2022 Repurchases. This gain primarily reflects the write-off of unamortized premiums and a net discount associated with the 2022 Repurchases. Related to the 2022 Repurchases, we recognized a debt prepayment and extinguishment benefit of $ 10 million on the consolidated statement of cash flows for the year ended December 31, 2022, which reflect the $ 38 million net gain on extinguishment of debt adjusted for the non-cash write-off of unamortized premiums of $ 33 million, unamortized debt issuance costs of $ 3 million, and unamortized discounts of $ 2 million. </context> | us-gaap:WriteOffOfDeferredDebtIssuanceCost |
In the first quarter of 2024, KHFC issued 550 million euro aggregate principal amount of 3.500 % senior notes due March 2029 (the “2024 Notes”). The 2024 Notes are fully and unconditionally guaranteed by The Kraft Heinz Company as to payment of principal, premium, and interest on a senior unsecured basis. We used the net proceeds from the 2024 Notes for general corporate purposes, including to fund the repayment of our 550 million euro senior notes that matured in May 2024. | text | 550 | monetaryItemType | text: <entity> 550 </entity> <entity type> monetaryItemType </entity type> <context> In the first quarter of 2024, KHFC issued 550 million euro aggregate principal amount of 3.500 % senior notes due March 2029 (the “2024 Notes”). The 2024 Notes are fully and unconditionally guaranteed by The Kraft Heinz Company as to payment of principal, premium, and interest on a senior unsecured basis. We used the net proceeds from the 2024 Notes for general corporate purposes, including to fund the repayment of our 550 million euro senior notes that matured in May 2024. </context> | us-gaap:DebtInstrumentFaceAmount |
In the first quarter of 2024, KHFC issued 550 million euro aggregate principal amount of 3.500 % senior notes due March 2029 (the “2024 Notes”). The 2024 Notes are fully and unconditionally guaranteed by The Kraft Heinz Company as to payment of principal, premium, and interest on a senior unsecured basis. We used the net proceeds from the 2024 Notes for general corporate purposes, including to fund the repayment of our 550 million euro senior notes that matured in May 2024. | text | 3.500 | percentItemType | text: <entity> 3.500 </entity> <entity type> percentItemType </entity type> <context> In the first quarter of 2024, KHFC issued 550 million euro aggregate principal amount of 3.500 % senior notes due March 2029 (the “2024 Notes”). The 2024 Notes are fully and unconditionally guaranteed by The Kraft Heinz Company as to payment of principal, premium, and interest on a senior unsecured basis. We used the net proceeds from the 2024 Notes for general corporate purposes, including to fund the repayment of our 550 million euro senior notes that matured in May 2024. </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
In the first quarter of 2024, KHFC issued 550 million euro aggregate principal amount of 3.500 % senior notes due March 2029 (the “2024 Notes”). The 2024 Notes are fully and unconditionally guaranteed by The Kraft Heinz Company as to payment of principal, premium, and interest on a senior unsecured basis. We used the net proceeds from the 2024 Notes for general corporate purposes, including to fund the repayment of our 550 million euro senior notes that matured in May 2024. | text | 550 | monetaryItemType | text: <entity> 550 </entity> <entity type> monetaryItemType </entity type> <context> In the first quarter of 2024, KHFC issued 550 million euro aggregate principal amount of 3.500 % senior notes due March 2029 (the “2024 Notes”). The 2024 Notes are fully and unconditionally guaranteed by The Kraft Heinz Company as to payment of principal, premium, and interest on a senior unsecured basis. We used the net proceeds from the 2024 Notes for general corporate purposes, including to fund the repayment of our 550 million euro senior notes that matured in May 2024. </context> | us-gaap:RepaymentsOfLongTermDebt |
In May 2023, KHFC issued 600 million euro aggregate principal amount of floating rate senior notes due May 2025 (the “2023 Notes”). The 2023 Notes are fully and unconditionally guaranteed by The Kraft Heinz Company as to payment of principal and interest on a senior unsecured basis. We used the proceeds from the 2023 Notes for general corporate purposes, including to partially fund the repayment of our 750 million euro senior notes that matured in June 2023. | text | 600 | monetaryItemType | text: <entity> 600 </entity> <entity type> monetaryItemType </entity type> <context> In May 2023, KHFC issued 600 million euro aggregate principal amount of floating rate senior notes due May 2025 (the “2023 Notes”). The 2023 Notes are fully and unconditionally guaranteed by The Kraft Heinz Company as to payment of principal and interest on a senior unsecured basis. We used the proceeds from the 2023 Notes for general corporate purposes, including to partially fund the repayment of our 750 million euro senior notes that matured in June 2023. </context> | us-gaap:DebtInstrumentFaceAmount |
In May 2023, KHFC issued 600 million euro aggregate principal amount of floating rate senior notes due May 2025 (the “2023 Notes”). The 2023 Notes are fully and unconditionally guaranteed by The Kraft Heinz Company as to payment of principal and interest on a senior unsecured basis. We used the proceeds from the 2023 Notes for general corporate purposes, including to partially fund the repayment of our 750 million euro senior notes that matured in June 2023. | text | 750 | monetaryItemType | text: <entity> 750 </entity> <entity type> monetaryItemType </entity type> <context> In May 2023, KHFC issued 600 million euro aggregate principal amount of floating rate senior notes due May 2025 (the “2023 Notes”). The 2023 Notes are fully and unconditionally guaranteed by The Kraft Heinz Company as to payment of principal and interest on a senior unsecured basis. We used the proceeds from the 2023 Notes for general corporate purposes, including to partially fund the repayment of our 750 million euro senior notes that matured in June 2023. </context> | us-gaap:RepaymentsOfLongTermDebt |
Debt issuance costs are reflected as a direct deduction of our current portion of long-term debt and long-term debt balances on the consolidated balance sheets. We incurred an insignificant amount of debt issuance costs in 2024, 2023, and 2022. Unamortized debt issuance costs were $ 75 million at December 28, 2024 and $ 81 million at December 30, 2023. Amortization of debt issuance costs was $ 12 million in 2024 and $ 11 million in 2023 and 2022. | text | 75 | monetaryItemType | text: <entity> 75 </entity> <entity type> monetaryItemType </entity type> <context> Debt issuance costs are reflected as a direct deduction of our current portion of long-term debt and long-term debt balances on the consolidated balance sheets. We incurred an insignificant amount of debt issuance costs in 2024, 2023, and 2022. Unamortized debt issuance costs were $ 75 million at December 28, 2024 and $ 81 million at December 30, 2023. Amortization of debt issuance costs was $ 12 million in 2024 and $ 11 million in 2023 and 2022. </context> | us-gaap:UnamortizedDebtIssuanceExpense |
Debt issuance costs are reflected as a direct deduction of our current portion of long-term debt and long-term debt balances on the consolidated balance sheets. We incurred an insignificant amount of debt issuance costs in 2024, 2023, and 2022. Unamortized debt issuance costs were $ 75 million at December 28, 2024 and $ 81 million at December 30, 2023. Amortization of debt issuance costs was $ 12 million in 2024 and $ 11 million in 2023 and 2022. | text | 81 | monetaryItemType | text: <entity> 81 </entity> <entity type> monetaryItemType </entity type> <context> Debt issuance costs are reflected as a direct deduction of our current portion of long-term debt and long-term debt balances on the consolidated balance sheets. We incurred an insignificant amount of debt issuance costs in 2024, 2023, and 2022. Unamortized debt issuance costs were $ 75 million at December 28, 2024 and $ 81 million at December 30, 2023. Amortization of debt issuance costs was $ 12 million in 2024 and $ 11 million in 2023 and 2022. </context> | us-gaap:UnamortizedDebtIssuanceExpense |
Debt issuance costs are reflected as a direct deduction of our current portion of long-term debt and long-term debt balances on the consolidated balance sheets. We incurred an insignificant amount of debt issuance costs in 2024, 2023, and 2022. Unamortized debt issuance costs were $ 75 million at December 28, 2024 and $ 81 million at December 30, 2023. Amortization of debt issuance costs was $ 12 million in 2024 and $ 11 million in 2023 and 2022. | text | 12 | monetaryItemType | text: <entity> 12 </entity> <entity type> monetaryItemType </entity type> <context> Debt issuance costs are reflected as a direct deduction of our current portion of long-term debt and long-term debt balances on the consolidated balance sheets. We incurred an insignificant amount of debt issuance costs in 2024, 2023, and 2022. Unamortized debt issuance costs were $ 75 million at December 28, 2024 and $ 81 million at December 30, 2023. Amortization of debt issuance costs was $ 12 million in 2024 and $ 11 million in 2023 and 2022. </context> | us-gaap:AmortizationOfFinancingCosts |
Unamortized debt premiums are presented on the consolidated balance sheets as a direct addition to the carrying amount of debt. Unamortized debt premium, net, was $ 217 million at December 28, 2024 and $ 234 million at December 30, 2023. Amortization of our debt premium, net, was $ 16 million in 2024 and 2023, and $ 17 million in 2022. | text | 217 | monetaryItemType | text: <entity> 217 </entity> <entity type> monetaryItemType </entity type> <context> Unamortized debt premiums are presented on the consolidated balance sheets as a direct addition to the carrying amount of debt. Unamortized debt premium, net, was $ 217 million at December 28, 2024 and $ 234 million at December 30, 2023. Amortization of our debt premium, net, was $ 16 million in 2024 and 2023, and $ 17 million in 2022. </context> | us-gaap:DebtInstrumentUnamortizedDiscountPremiumNet |
Unamortized debt premiums are presented on the consolidated balance sheets as a direct addition to the carrying amount of debt. Unamortized debt premium, net, was $ 217 million at December 28, 2024 and $ 234 million at December 30, 2023. Amortization of our debt premium, net, was $ 16 million in 2024 and 2023, and $ 17 million in 2022. | text | 234 | monetaryItemType | text: <entity> 234 </entity> <entity type> monetaryItemType </entity type> <context> Unamortized debt premiums are presented on the consolidated balance sheets as a direct addition to the carrying amount of debt. Unamortized debt premium, net, was $ 217 million at December 28, 2024 and $ 234 million at December 30, 2023. Amortization of our debt premium, net, was $ 16 million in 2024 and 2023, and $ 17 million in 2022. </context> | us-gaap:DebtInstrumentUnamortizedDiscountPremiumNet |
Unamortized debt premiums are presented on the consolidated balance sheets as a direct addition to the carrying amount of debt. Unamortized debt premium, net, was $ 217 million at December 28, 2024 and $ 234 million at December 30, 2023. Amortization of our debt premium, net, was $ 16 million in 2024 and 2023, and $ 17 million in 2022. | text | 17 | monetaryItemType | text: <entity> 17 </entity> <entity type> monetaryItemType </entity type> <context> Unamortized debt premiums are presented on the consolidated balance sheets as a direct addition to the carrying amount of debt. Unamortized debt premium, net, was $ 217 million at December 28, 2024 and $ 234 million at December 30, 2023. Amortization of our debt premium, net, was $ 16 million in 2024 and 2023, and $ 17 million in 2022. </context> | us-gaap:AmortizationOfDebtDiscountPremium |
In May 2024, we repaid 550 million euro aggregate principal amount of senior notes that matured in the period. | text | 550 | monetaryItemType | text: <entity> 550 </entity> <entity type> monetaryItemType </entity type> <context> In May 2024, we repaid 550 million euro aggregate principal amount of senior notes that matured in the period. </context> | us-gaap:RepaymentsOfLongTermDebt |
In June 2023, we repaid 750 million euro aggregate principal amount of senior notes that matured in the period. | text | 750 | monetaryItemType | text: <entity> 750 </entity> <entity type> monetaryItemType </entity type> <context> In June 2023, we repaid 750 million euro aggregate principal amount of senior notes that matured in the period. </context> | us-gaap:RepaymentsOfLongTermDebt |
In March 2022, we repaid $ 6 million aggregate principal amount of senior notes that matured in the period. | text | 6 | monetaryItemType | text: <entity> 6 </entity> <entity type> monetaryItemType </entity type> <context> In March 2022, we repaid $ 6 million aggregate principal amount of senior notes that matured in the period. </context> | us-gaap:RepaymentsOfLongTermDebt |
In June 2022, we repaid $ 381 million aggregate principal amount of senior notes that matured in the period. | text | 381 | monetaryItemType | text: <entity> 381 </entity> <entity type> monetaryItemType </entity type> <context> In June 2022, we repaid $ 381 million aggregate principal amount of senior notes that matured in the period. </context> | us-gaap:RepaymentsOfLongTermDebt |
In August 2022, we repaid $ 315 million aggregate principal amount of floating rate senior notes that matured in the period. | text | 315 | monetaryItemType | text: <entity> 315 </entity> <entity type> monetaryItemType </entity type> <context> In August 2022, we repaid $ 315 million aggregate principal amount of floating rate senior notes that matured in the period. </context> | us-gaap:RepaymentsOfLongTermDebt |
In June 2023, we entered into a non-cancellable synthetic lease for a distribution facility, for which we are the construction agent, that we now anticipate the estimated construction cost to be approximately $ 625 million. The lease will commence upon completion of construction of the facility which is now expected to be in the later part of 2027. The term of the lease is five years after commencement. At the end of the lease term, we will be required to either purchase the facility or, in the event that option is not elected, to remarket the facility. Upon lease commencement, the lease classification, right-of-use asset, and lease liability will be determined and recorded. The lease arrangement contains a residual value guarantee of approximately 85 % of the total construction cost. The construction agreement and lease contain covenants that are consistent with our Senior Credit Facility as disclosed in Note 16, | text | 625 | monetaryItemType | text: <entity> 625 </entity> <entity type> monetaryItemType </entity type> <context> In June 2023, we entered into a non-cancellable synthetic lease for a distribution facility, for which we are the construction agent, that we now anticipate the estimated construction cost to be approximately $ 625 million. The lease will commence upon completion of construction of the facility which is now expected to be in the later part of 2027. The term of the lease is five years after commencement. At the end of the lease term, we will be required to either purchase the facility or, in the event that option is not elected, to remarket the facility. Upon lease commencement, the lease classification, right-of-use asset, and lease liability will be determined and recorded. The lease arrangement contains a residual value guarantee of approximately 85 % of the total construction cost. The construction agreement and lease contain covenants that are consistent with our Senior Credit Facility as disclosed in Note 16, </context> | us-gaap:ConstructionInProgressGross |
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