Kraft food’s corporate headquarters are located in Northfield, Illinois. The Chief Executive Officer and Chairman is Irene Rosinfeld. Irene was inducted as Chairman of Kraft foods in March 2007 and C.E.O. in June 2006. She has been an avid employee for Kraft for over twenty years and has held many positions within the corporation. Kraft employs 127,000 people worldwide and has operations in more than 75 countries globally. These countries encompass North America, Latin America, Europe, Middles East and Africa (Kraft 2012). Additionally, Kraft has 223 manufacturing and processing facilities around the work and 15 research and development centers (Kraft 2012).
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Summary of Financial Statements
For the years which ended Dec 31, Kraft Foods generated $54,365 million in net revenues from goods sold to customers in 2011. This figure was a 21% increase from the previous year which had a net revenue of $49,207 million. In summary, sixty percent of net revenue was generated. The goods sold to produce revenue which is also called cost of sales was $35,350 million, the deduction of the cost of sales by the net revenue resulted in a gross profit of $19,015 million. There were a few operating expenses which were selling, general, and administrative expenses, these expenses accumulated to $12,140 million. In addition, to those expenses, there were also asset impairment charges and exit losses which costs -$6 million, and amortization of intangibles which ended up being $225 million. The operating income increased by 6,667 million. Interest and other expenses, net amounted $1,885 million, since interest expense is money borrowed it is considered as a non-operating expense. The difference of the operating income and the non-operating expense is the earnings from continuing operations before income taxes (EBIT) which was $4,772 million. After all the taxes and earnings were accounted for the net earnings attributable to Kraft Foods was $3,527 million. Balance Sheet
In a balance sheet there are two main categories under assets which are: current and non-current (long-term). The current assets of Kraft Foods for 2011 were cash and cash equivalents which was $1,974 million. Cash is the most liquid asset; these include money in unrestricted checking accounts, negotiable checks, etc. Due to the Kraft and Cadbury acquisition, there were many current and long term assets that were increased. Receivables and Inventories were some of a few. Receivables went up to $6,361 million and inventory also increased to $5,706 million. Next, listed are deferred income taxes totaling to $912 million and last but not least, other current assets which were $1,249 million. In summary, the total current assets amounted to $16,202 million. Subsequently following the current assets are the non-current or long-term assets. These are the tangible assets, investments, intangible assets, and other. Property, plant, and equipment includes land improvement, building and building equipment, machinery and equipment, in progress construction, and a deduction of accumulated depreciation. All of the property,...