Adjustments to Financial Statements

Adjustments to Current Assets
Adjustments to Total Assets
Adjustments to Total Liabilities
Adjustments to Stockholders’ Equity
Adjustments to Capitalization Table
Adjustments to Reported Income

Adjustments to Current Assets

Kraft Foods Group Inc., adjusted current assets

US$ in millions

	Dec 27, 2014	Dec 28, 2013	Dec 29, 2012
As Reported
Current assets	4,791)	4,908)	4,823)
Adjustments
Add: Allowances related to accounts receivable	21)	26)	28)
Less: Deferred income taxes¹	384)	360)	420)
After Adjustment
Adjusted current assets	4,428)	4,574)	4,431)

Based on: 10-K (reporting date: 2014-12-27), 10-K (reporting date: 2013-12-28), 10-K (reporting date: 2012-12-29).

¹ Deferred income taxes. See details »

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Adjustments to Total Assets

Kraft Foods Group Inc., adjusted total assets

US$ in millions

	Dec 27, 2014	Dec 28, 2013	Dec 29, 2012
As Reported
Total assets	22,947)	23,148)	23,329)
Adjustments
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)¹	369)	422)	382)
Add: Allowances related to accounts receivable	21)	26)	28)
Less: Deferred income taxes²	384)	360)	420)
After Adjustment
Adjusted total assets	22,953)	23,236)	23,319)

Based on: 10-K (reporting date: 2014-12-27), 10-K (reporting date: 2013-12-28), 10-K (reporting date: 2012-12-29).

¹ Operating lease right-of-use asset (before adoption of FASB Topic 842). See details »

² Deferred income taxes. See details »

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Adjustments to Total Liabilities

Kraft Foods Group Inc., adjusted total liabilities

US$ in millions

	Dec 27, 2014	Dec 28, 2013	Dec 29, 2012
As Reported
Total liabilities	18,582)	17,961)	19,757)
Adjustments
Add: Operating lease liability (before adoption of FASB Topic 842)¹	369)	422)	382)
Less: Deferred income taxes²	340)	662)	288)
Less: Restructuring costs liability	5)	19)	44)
After Adjustment
Adjusted total liabilities	18,606)	17,702)	19,807)

Based on: 10-K (reporting date: 2014-12-27), 10-K (reporting date: 2013-12-28), 10-K (reporting date: 2012-12-29).

¹ Operating lease liability (before adoption of FASB Topic 842). See details »

² Deferred income taxes. See details »

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Adjustments to Stockholders’ Equity

Kraft Foods Group Inc., adjusted equity

US$ in millions

	Dec 27, 2014	Dec 28, 2013	Dec 29, 2012
As Reported
Equity	4,365)	5,187)	3,572)
Adjustments
Less: Net deferred income tax assets (liabilities)¹	103)	(268)	285)
Add: Allowances related to accounts receivable	21)	26)	28)
Add: Restructuring costs liability	5)	19)	44)
After Adjustment
Adjusted equity	4,288)	5,500)	3,359)

Based on: 10-K (reporting date: 2014-12-27), 10-K (reporting date: 2013-12-28), 10-K (reporting date: 2012-12-29).

¹ Net deferred income tax assets (liabilities). See details »

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Adjustments to Capitalization Table

Kraft Foods Group Inc., adjusted capitalization table

US$ in millions

	Dec 27, 2014	Dec 28, 2013	Dec 29, 2012
As Reported
Current portion of long-term debt	1,405)	4)	5)
Long-term debt, excluding current portion	8,627)	9,976)	9,966)
Total reported debt	10,032)	9,980)	9,971)
Equity	4,365)	5,187)	3,572)
Total reported capital	14,397)	15,167)	13,543)
Adjustments to Debt
Add: Operating lease liability (before adoption of FASB Topic 842)¹	369)	422)	382)
Adjusted total debt	10,401)	10,402)	10,353)
Adjustments to Equity
Less: Net deferred income tax assets (liabilities)²	103)	(268)	285)
Add: Allowances related to accounts receivable	21)	26)	28)
Add: Restructuring costs liability	5)	19)	44)
Adjusted equity	4,288)	5,500)	3,359)
After Adjustment
Adjusted total capital	14,689)	15,902)	13,712)

Based on: 10-K (reporting date: 2014-12-27), 10-K (reporting date: 2013-12-28), 10-K (reporting date: 2012-12-29).

¹ Operating lease liability (before adoption of FASB Topic 842). See details »

² Net deferred income tax assets (liabilities). See details »

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Adjustments to Reported Income

Kraft Foods Group Inc., adjusted net earnings

US$ in millions

12 months ended:	Dec 27, 2014	Dec 28, 2013	Dec 29, 2012
As Reported
Net earnings	1,043)	2,715)	1,642)
Adjustments
Add: Deferred income tax expense (benefit)¹	(361)	708)	470)
Add: Increase (decrease) in allowances related to accounts receivable	(5)	(2)	5)
Add: Increase (decrease) in restructuring costs liability	(14)	(25)	44)
Add: Other comprehensive losses	(63)	(39)	(98)
After Adjustment
Adjusted net earnings	600)	3,357)	2,063)

Based on: 10-K (reporting date: 2014-12-27), 10-K (reporting date: 2013-12-28), 10-K (reporting date: 2012-12-29).

¹ Deferred income tax expense (benefit). See details »

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Kraft Foods Group Inc. (NASDAQ:KRFT)

Adjustments to Financial Statements

Adjustments to Current Assets

Adjustments to Total Assets

Adjustments to Total Liabilities

Adjustments to Stockholders’ Equity

Adjustments to Capitalization Table

Adjustments to Reported Income